The Beijing city administration unveiled a two-year metaverse innovation and development plan (2022-2024), mandating that all districts follow the recently issued Web3 innovation plan. The action plan stipulates that different municipalities must develop technology infrastructure at the city level and encourage its adoption in a number of industries, including tourism and education.

Benchmark Brent oil logged a spike today and climbed above $100 a barrel on Wednesday. The aforementioned spike came after Saudi Arabia suggested this week that OPEC could mull over slashing output in response to poor liquidity in the crude futures market and fears about a global economic downturn. Brent for October settlement reached a three-week high, trading up $1.30.

As part of Qatar's support for the cash-strapped South Asian country, the gas-rich Gulf state wants to invest $3 billion in Pakistan's main economic sectors. The nation's two primary airports in Islamabad and Karachi, as well as investments in the renewable energy, power, and hotel industries, are all being considered by the $445 billion Qatar Investment Authority.

According to government and industry sources, India may offer incentives to exporters who settle transactions in rupees to raise the currency's acceptance and bolster the country's declining sales to Russia as a result of western sanctions. The action is intended to increase Russian commerce after the RBI established a system for rupee-based international trade settlements last month.

The shares of Syrma SGS Technology, an Electronics manufacturing services company, were available at more than a 20 percent premium in the grey market on August 24. This premium indicates towards a strong debut for the stock on August 26. The grey market premium (GMP) for Syrma was found to be around Rs 50-55, or 22-25 percent, over the final issue price of Rs 220 per share.

TVS Motor Company announced that it has bought a 48% share for ₹85 Cr in Narain Karthikeyan's used two-wheeler venture, DriveX. TVS would make 1st and 2nd investments to acquire a 48.27% share in NKars Mobility Millennial Solutions Pvt Ltd, which trades as DriveX. DriveX deals in both the leasing of motorbikes and scooters as well as the buying, selling, and distribution of used two-wheelers.

Parag Milk Foods Ltd on Wednesday revealed that it has successfully garnered a total of Rs 131 crore through preferential allotment from marquee investors and promoters. According to a regulatory filing, the company affirmed that investors have invested Rs 113 crore and promoters about Rs 18.75 crore looking at the promising growth strategy.

The Enforcement Directorate (ED) has unearthed more than INR 800 Cr as proceeds of crime in a money laundering investigation that has been launched into 365 loan apps and their non-banking financial companies (NBFCs) partners. As per reports, the probe revealed that more than INR 4,000 Cr were disbursed by these fintech companies as loans.

The shares of Aurobindo Pharma Limited logged a small spike during trading today. This spike came after the company announced that Eugia Pharma Specialties Limited, its wholly owned subsidiary has secured the final FDA clearance to manufacture and commercialize Medroxyprogesterone Acetate Injectable Suspension USP, 150 mg/mL, 1 mL single dose Vial.

The Indian Navy placed an order with Avantel Limited for the supply of Satcom equipment worth ₹11.28 crore on Wednesday. The share price of the company started the day at ₹254 per equity share and has since reached a high and low of ₹260.50 and ₹251.90, respectively. The company's current market capitalization is ₹413.40 crore.

The shares of Glenmark Pharmaceuticals Limited logged a spike today. This surge came after the company revealed that it has received a communication from the US FDA. The aforesaid communication has indicated that the inspection classification as “Official Action Indicated” (OAI). According to the OAI classification, the USFDA may suspend approval of any pending product applications.

In the next five years, German luxury automaker Mercedes-Benz anticipates that electric vehicles will account for 25% of its sales in India. As part of a plan to quicken the company's transition to electric mobility in India, Mercedes-Benz India will introduce three electric vehicles in the next four months. As per the strategy, the company will debut electric AMG EQS 53 4MATIC, EQS 580 and EQB.

📢 Benchmark indices CLOSED on a positive note after the volatile session on August 24. 📊 At 3:30 PM, the Sensex improved by 54.13 points or 0.092% at 59,085.43, and the Nifty was up 29.90 points or 0.17% at 17,607.40. 👉 Nifty NIFTY BANK (🔼0.88%) appeared as the best performing sectoral index while Nifty IT (🔻0.34%) saw considerable selling.

AMG Media Networks, a wholly owned subsidiary of Adani Enterprises Limited, has completed the acquisition of a 100% equity stake in Vishvapradhan Commercial Private Limited (VCPL). The company has affirmed that the acquisition is in accordance with the terms contemplated under the purchase agreement dated August 23, 2022.

China's unemployment insurance payouts reached a record high in June, adding to indications of a labour market that is failing as a result of the severe economic impact of COVID-19 outbreaks and a real estate crisis. Payments by China's unemployment insurance fund increased by 256.6% in June compared to a year earlier to 37.19 billion yuan ($5.42 billion).