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India's Paytm to buy back shares after 75% stock rout
India's Paytm to buy back shares after 75% stock rout
by  AFP

Indian mobile payments giant Paytm will launch a share buyback, it said Tuesday, offering investors little more than a third of what they paid just over a year ago in the country's then-biggest IPO. Paytm's shares have nosedived 75 percent since its $2.5 billion flotation in November 2021, demonstrating the risks of overpriced share offers in loss-making tech firms.

Fed opens meeting with smaller rate hike in the cards
Fed opens meeting with smaller rate hike in the cards
by  AFP

US central bankers started a two-day policy meeting Tuesday, with all eyes searching for clear signs that decades-high inflation in the world's biggest economy is definitively slowing. A Fed spokesperson confirmed the policy-setting Federal Open Market Committee (FOMC) started its meeting as scheduled on Tuesday, and it is scheduled to announce its decision on Wednesday afternoon.

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