IFC will invest $30 million (approximately Rs. 240 crore) to acquire a 5.6% stake in JK Tyre & Industries Ltd. The investment will be used to finance the growth of manufacturing capacities and the integration of advanced, resource-efficient technologies in the production of commercial and passenger car radial tyres, which offer improved safety and durability, according to a regulatory filing.
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Bitcoin climbed above $28,000 on Wednesday in Asia, as the top 10 non-stablecoin cryptocurrencies rebounded. XRP saw the biggest gain, rising over 20% on expectations of a positive ruling in an SEC lawsuit. Meanwhile, US equities rallied on Tuesday after Treasury Secretary Janet Yellen reaffirmed support for troubled banks.
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