Moneycontrol Selects: Top stories this evening

Here is a collection of the most important stories this evening:

Facebook parent Meta sacks over 11,000 employees

Meta Platforms Inc, the parent entity of social media platform Facebook, has sacked over 11,000 employees and is set to extend the freeze it has imposed on new hiring. This is 13 percent of the company’s workforce. More here.

Nirav Modi loses appeal as UK High Court orders extradition to India to face the law

The High Court in London on Wednesday ordered diamond merchant Nirav Modi’s extradition to India to face charges of fraud and money laundering, amounting to an estimated USD 2 billion in the Punjab National Bank (PNB) loan scam case. More here.

Centre allows rupee settlement in export promotion schemes

The central government has made changes to the Foreign Trade Policy to allow for rupee settlement of international trade for export promotion schemes, the commerce ministry said on November 9. More here.

Tata Motors Q2 consolidated net loss narrows to Rs. 944.6 crore

Tata Motors Limited on November 9 reported a consolidated net loss of Rs 944.61crore for the quarter ended September (Q2FY23). The homegrown multinational automotive manufacturing firm had posted a net loss of Rs. 4,441.57 crore in the year-ago period (Q2FY22).

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Centre releases Green Bonds framework

The Centre on November 9 released the framework for its proposed sovereign Green Bonds, with a committee headed by the Chief Economic Adviser being put in place to select eligible projects for financing, which do not include large hydropower plants.

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Pakistan enter T20 World Cup final with 7 wicket win over New Zealand

Batting first, New Zealand managed 152 for 4, riding on Daryl Mitchell’s unbeaten 34-ball 53 and skipper Kane Williamson’s 46 off 42 balls. More here.

Adani Ports acquires 49.38% stake in Indian Oiltanking for Rs 1,050 crore

Adani Ports and Special Economic Zone Ltd (APSEZ) has entered into a definitive agreement for the acquisition of Oiltanking India GmbH’s 49.38 percent equity stake in Indian Oiltanking Ltd (IOTL), which is one of India’s largest developer and operator of liquid storage facilities. More here.