Israeli Prime Minister Benjamin Netanyahu criticizes Turkish President Erdogan’s Hitler remarks and accuses him of committing genocide against Kurds and imprisoning journalists. He defends Israel Defense Forces (IDF) as the most moral army in the world and condemns Erdogan for supporting Hamas-ISIS. Erdogan labels Israel a terrorist state and vows to take steps in international courts. Cancelation of Erdogan’s visit to Israel and denial of Hamas as a terrorist organization.
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Radio Mirchi, part of Entertainment Network India Limited (ENIL), and Radio Orange have placed a bid of Rs 251 crore to acquire BIG FM Radio network. Sapphire FM, a Haryana-based company, has also made the same bid. Lenders are likely to ask both bidders to revise their bids. The lenders will also receive Rs 60 crore cash from the company’s accounts. The total recovery for lenders could be as high as 55 to 60 per cent against the total admitted claims of Rs 578 crore. BIG FM is the largest radio network in the country with 58 stations and coverage in over 1,200 towns and 50,000 villages.
Investment bank Jefferies predicts that international investors will now compare HDFC Bank with global banks, not just for emerging market portfolios, but also for global portfolios. HDFC Bank’s market value of $140 billion makes it the seventh-largest global large-cap bank, offering a strong case for consideration in large-cap bank and global portfolios. HDFC Bank is the only Indian bank with a market cap exceeding $100 billion.
