Saudi stock exchange approves listing of $1.5bn government debt

Saudi stock exchange approves listing of $1.5bn government debt
Saudi stock exchange approves listing of $1.5bn government debt

Thank you for reading the news about Saudi stock exchange approves listing of $1.5bn government debt and now with the details

Jeddah - Yasmine El Tohamy - India In-Focus — Shares buck a broader downturn; probe underway in Tata Motors EV fire incident

MUMBAI: Indian shares bucked a broader downturn on Thursday as weak metal and oil prices drove beaten-down automakers to their best day since April 2020.

The NSE Nifty 50 index rose 0.93 percent to 15,556.65, while the S&P BSE Sensex climbed 0.86 percent to 52,265.72.

The indexes have added around 1.7 percent so far this week, after two consecutive weeks of decline fueled by concerns over interest rate hikes and growth.

Tata Motors EV fire incident

India has ordered an investigation into a fire incident involving a Tata Motors’ electric vehicle, a government official said on Thursday, after the automaker described it as an “isolated thermal incident.”

A video on social media, which has gone viral, showed one of the company’s electric cars engulfed in flames. The video showed firefighters trying to extinguish the fire in a Nexon model electric vehicle in a suburb of Mumbai. 

Defense Research and Development Organization, a government agency, will lead the investigation, the official said.

“A detailed investigation is currently being conducted to ascertain the facts of the recent isolated thermal incident that is doing the rounds on social media. We will share a detailed response after our complete investigation,” India’s biggest manufacturer of electric cars said in a statement.

The company said this was the first such incident, having sold more than 30,000 EVs, the bulk of which are its Nexon model.

The incident follows a spate of e-scooter fires that have triggered an investigation by the Indian government.

India to support Lanka

India’s top diplomat held talks with Sri Lanka’s president and prime minister on Thursday as India signaled its willingness to go beyond the $4 billion in loans, swaps and aid that it has already provided its cash-strapped neighbor.

Sri Lanka is facing its worst economic crisis in seven decades, with a severe foreign exchange shortage hampering the import of essentials, including food, fuel and medicines.

The island nation off the tip of southern India needs about $5 billion in the next six months to cover basic necessities for its 22 million people, who have been struggling with long queues for basic items, worsening shortages and power cuts.

Indian Foreign Secretary Vinay Kwatra, accompanied by other officials, held talks with President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe on providing further financial assistance to the country, the president’s office said in a statement.

“Indian Foreign Secretary Vinay Kwatra has said that the government of India will extend its fullest support to Sri Lanka in overcoming the current difficult situation as a close friend,” the statement said.

“The Indian delegation stated that the government of India and the political authorities are committed to provide continued support to Sri Lanka,” it added.

 

These were the details of the news Saudi stock exchange approves listing of $1.5bn government debt for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Arab News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Saudis reportedly in talks over stake in luxury car manufacturer Aston Martin

Author Information

I am Joshua Kelly and I focus on breaking news stories and ensuring we (“Al-KhaleejToday.NET”) offer timely reporting on some of the most recent stories released through market wires about “Services” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Al-KhaleejToday.NET specializing in quicker moving active shares with a short term view on investment opportunities and trends. Address: 838 Emily Drive Hampton, SC 29924, USA Phone: (+1) 803-887-5567 Email: [email protected]