Firstsource Solutions UK to acquire Pastdue Credit Solutions
Upon completion of the transaction, PDC will become a subsidiary of FSL UK and in turn a step-down subsidiary of the Company.
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Mint
7 hours ago
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Sterling inches up against euro, dollar but remains near multi-week lows
LONDON, July 21 (Reuters) - The British pound edged higher against the dollar and euro on Monday, but remained close to the multi-week lows it reached against both currencies last week as investor attention remains on Bank of England policy and the deteriorating fiscal picture. The pound was up 0.3% against the dollar at $1.3452, just above last week's eight-week low of $1.33655. Britain's economic data was mixed on balance last week - the labour market showed signs of a further cooling, while consumer price inflation unexpectedly rose to its highest in more than a year. A quarter-point rate cut from the Bank of England at its meeting on August 7 remained almost fully priced after the data, with about 50 basis points of easing priced in by the end of the year. The pound was also up about 0.2% at 86.575 pence per euro , having touched a 14-week low last week. "We think a rising fiscal risk premium is the main driver of the recent outperformance of EUR/GBP," said Goldman Sachs FX strategists in a note. Britain remains in a precarious fiscal position, exacerbated earlier this month after the government suffered a major rebellion against welfare reforms which fed doubts about its ability to cut spending. Many economists and analysts believe the government will have to raise billions of pounds in taxes later this year to meet its fiscal rules as growth remains elusive. "The pound's struggle to keep pace with the euro this year reflects a shift in market optimism in favour of Germany and the euro zone," said Rabobank senior FX strategist Jane Foley. "In view of the UK's fiscal concerns, we continue to favour buying EUR/GBP on dips," Foley added. Deloitte on Monday said its consumer confidence index dropped to its lowest since the first quarter of 2024, reflecting increased worries about job security and income growth. Retail sales data due on Friday could give a clearer picture on the state of the consumer, while a preliminary survey of purchasing managers on business activity is set for release on Thursday. (Reporting by Samuel Indyk; Editing by David Holmes)
Time of India
12 hours ago
- Time of India
Saudi ‘Sleeping Prince' Alwaleed bin Khalid laid to rest; funeral prayer held in Riyadh
Mourners gather in Riyadh for the funeral of Prince Alwaleed bin Khalid, known as the 'Sleeping Prince'/ Image Composite: SPA/ File TL;DR Prince Alwaleed bin Khalid bin Talal passed away on July 19 after being in a coma since 2005. The funeral was held on July 20 in Riyadh, attended by senior royals and officials. Condolences poured in from UAE leaders and others across the region. Prince Alwaleed bin Khalid bin Talal Al Saud has passed away, closing a chapter marked by hope, uncertainty, and quiet resilience. For nearly two decades, he lived in a coma after a car crash in London changed the course of his life at just 15 years old. The Saudi royal, who had once been a young cadet at a military college, spent the rest of his life under intensive care in Riyadh, watched over by his family and remembered by many in the kingdom. His death was confirmed by the Saudi Royal Court on July 19, and funeral prayers were held a day later, on Sunday, July 20, at Riyadh's Imam Turki bin Abdullah Mosque, as reported by SPA. The moment marked the end of a long, deeply personal journey for his family, especially for his father, Prince Khaled bin Talal, who had stayed by his side and held on to the possibility of recovery. Who Was Prince Alwaleed bin Khalid, the 'Sleeping Prince'? Born in 1990, Prince Alwaleed was the son of Prince Khaled bin Talal Al Saud and the nephew of prominent businessman Prince Alwaleed bin Talal. In 2005, while attending military college in London, a car accident left him with a severe brain injury that resulted in a long-lasting coma. The injury caused a brain hemorrhage, and despite medical efforts, he never regained full consciousness. He returned to Saudi Arabia soon after and was kept under round-the-clock care. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Dubai villas | search ads Get Deals Undo Over the years, short clips occasionally surfaced online showing slight movements, flickers of response that his father believed were signs of hope. These moments kept the prince in the public eye and became symbols of faith and patience for many Saudis. A Funeral Marked by Quiet Respect On Sunday, July 20, mourners gathered at one of Riyadh's oldest and most prominent mosques to offer funeral prayers. Prince Mohammed bin Abdulrahman bin Abdulaziz, Deputy Governor of Riyadh, led the prayer. Members of the royal family stood together, joined by high-ranking officials and ordinary citizens alike. Among those present were the prince's father, his two brothers, and his uncle Prince Alwaleed bin Talal. Their presence marked both the closeness of the family and the weight of the loss they had carried privately for years. There was no official ceremony beyond the prayer, just a collective acknowledgment of a quiet life and the people who never left his side. UAE Leaders Share Their Condolences Following the announcement of his death, condolences began arriving from across the region. According to SPA, UAE President Sheikh Mohamed bin Zayed Al Nahyan sent a message to King Salman bin Abdulaziz, offering sympathy on behalf of the Emirati leadership. Similar messages came from Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, and Sheikh Mansour bin Zayed, Deputy Prime Minister and head of the Presidential Court. Their responses reflected more than diplomatic protocol, they showed the deep personal and political ties that link the leadership of Gulf nations. Prince Alwaleed's passing, though quiet, stirred real emotion across borders. Family, Faith, and a Long Wait for a Miracle Throughout the years, Prince Khaled bin Talal often spoke publicly about his son's condition. He remained hopeful, even sharing rare footage where the prince appeared to move a hand or blink in response to sound. Many in the kingdom saw this long vigil as an act of love and faith. The story of the Sleeping Prince wasn't just about tragedy, it became a symbol of endurance. His father's refusal to give up was both admired and deeply human. Though Prince Alwaleed never recovered, his story stayed alive. And in that way, he was never entirely gone. FAQ 1. Who was Prince Alwaleed bin Khalid bin Talal Al Saud? He was a Saudi royal born in 1990, the son of Prince Khaled bin Talal and nephew of businessman Prince Alwaleed bin Talal. He fell into a coma in 2005 after a car accident and remained in that state for nearly 20 years. 2. What caused the coma? He suffered a brain hemorrhage after a severe car crash while studying at a military college in London. 3. When and where was the funeral held? The funeral prayer was held on Sunday, July 20, 2025, at Imam Turki bin Abdullah Mosque in Riyadh, Saudi Arabia
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12 hours ago
- Business Standard
Stock Alert: Reliance Industries, HDFC Bank, ICICI Bank, Yes Bank, Dr Reddys Lab
Securities In F&O Ban: Angel One, Bandhan Bank, Hindustan Copper and RBL Bank shares are banned from F&O trading on 21 July 2025. Upcoming Results: Agi Greenpac, CIE Automotive India, CRISIL, DCM Shriram, Dodla Dairy, Eternal, Ganesh Housing Corporation, Havells India, IDBI Bank, Latent View Analytics, Mahindra Logistics, Oberoi Realty, Parag Milk Foods, PNB Housing Finance, Rajratan Global Wire, Sagar Cements, UCO Bank, UltraTech Cement will announce their result later today. Stocks to Watch: Reliance Industries' (RIL) profit after tax and share of profit/(loss) of associates & JVs increased by 76.5% year-on-year (Y-o-Y) to Rs 30,783 crore in Q1 June 2025. The company's gross revenue increased by 6% Y-o-Y to Rs 273,252 crore in Q1 June 2025. Yes Bank reported 59.43% surge in standalone net profit to Rs 801.07 crore in Q1 FY26 as against Rs 502.43 ecrore posted in Q1 FY25. The banks total income rose 4.82% YoY to Rs 9,348.11 crore in the quarter ended 30 June 2025. ICICI Bank reported a standalone net profit of Rs 12,768.21 crore in Q1 FY26, up 15.45% as against Rs 11,059.11 crore posted in Q1 FY25. Total income increased 11.85% year on year (YoY) to Rs 51,451.81 crore in Q1 FY26. HDFC Bank's profit after tax (PAT) for the quarter ended June 2025 was at Rs 18,155.21 crore, a growth of 12.24% over the quarter ended June 2024. Net interest income (interest earned less interest expended) for the quarter ended June 2025 grew by 5.4% to Rs 31,440 crore from Rs 29,840 crore for the quarter ended June 2024. RBL Banks standalone net profit tumbled 46.07% to Rs 200.33 crore in Q1 FY26 as against Rs 371.52 crore posted in Q1 FY25. However, total income increased 4.85% year on year (YoY) to Rs 4,510.57 crore in the quarter ended 30 June 2025. Firstsource Solutions wholly owned subsidiary, Firstsource Solutions UK has executed a share purchase agreement with Pastdue Credit Solutions (PDC) to acquire 100% stake in PDC for a consideration of GBP 22 million, including upfront payment & earnouts. Dr Reddys Laboratories announced that United States Food & Drug Administration (USFDA) completed a GMP and a Pre-Approval Inspection (PAI) at its formulations manufacturing facility FTO 11 in Srikakulam, Andhra Pradesh, India. USFDA issued a Form 483 with 7 observations.
