Amazon CEO Jeff Bezos, the world's wealthiest person, has purchased a Beverly Hills mansion known as the Warner Estate from media mogul David Geffen for $165 million, a source familiar with the deal said on Wednesday. The sale price is believed to be the highest in a Los Angeles-area residential real estate transaction; India Ratings and Research (Ind-Ra), a part of Fitch Group, on Wednesday downgraded YES Bank's long-term issuer rating, while maintaining it on 'Rating Watch Negative' (RWN). The rating downgrade was attributed to continued delay and inconclusive quantum of the anticipated equity infusion in YES Bank; Microsoft Corp Chief Executive Officer Satya Nadella is planning to visit India later this month according to Reuters. Nadella is planning to be in India between Feb 24 and Feb 26 and will likely visit New Delhi. Watch this and more on News Blast.Also read: Ratan Tata had nearly married, but 1962 Indo-China war changed thingsAlso read: Coronavirus scare: 'Help us, we want to go home,' 3 Indians isolated on British cruise ship in Japan tell PM Modi  

Following the update, shares of YES Bank opened with a gain of 4.97% today touched an intraday high of Rs 37.2, rising 5.68% against the last close of Rs 35.20 on BSE.

Pay taxes for India's development, says PM ModiWhile the previous governments had hesitated to touch the country's taxation system, the current BJP-led dispensation was making it more citizen centric, Prime Minister Narendra Modi said on Wednesday, urging people to pay their dues for the development of India. He lamented that when a number of people did not pay tax and found ways to evade it, \"the burden falls on those who honestly pay their dues\".WhatsApp garners 2 billion user...

Share Market Update: BSE 30-share S&P Sensex ended 106 points lower at 41,459 and NSE 50-share index Nifty50 ended 22 points lower at 12,178.

Indian firms raised $3.6 billion in January, and $2 billion so far in February, the data showed.

YES Bank continues to remain in discussions with various potential investors, but it failed to reach a final decision on potential investors

New disclosed data on extra-budgetary resources shows the government expects to raise Rs 1.86 lakh crore through extra budgetary resources in 2020-21 compared to Rs 1.73 lakh crore in 2019-20

Ind-Ra believes with states' capital expenditure bearing the brunt of the economic slowdown and lower growth in revenue receipts in FY20, the situation is unlikely to change significantly in FY21

Nirmala Sitharaman, in her maiden budget, broke the long-standing tradition of carrying a budget briefcase, used by all the finance ministers before her. She was seen carrying a red cloth bag instead. Here is why she broke the tradition. Watch the video to know more.Also read: India Ratings projects country's FY21 GDP growth at 5.5%Also watch: Davos 2020: Khan seeks help from Trump over Kashmir issue  

The selected agencies will be responsible for assisting the regulator 'in valuation of attached assets and sale thereof to prospective buyers on behalf of Sebi'

Putting forward a cautious figure, India Ratings and Research has pegged the Indian economy to grow at a 5.5% rate in FY21 (2020-21), which is marginally higher than the 5% GDP growth rate estimate for FY20 (2019-20)

Share Market Update: In terms of sector, except private banking, all the other indices traded higher today, with metal and realty indices gaining 1% each.

While GVA growth improved, the report said the economy was still not out of bounds and showed no sign of recovery in the first two halves of the fiscal year

Share Market Update: Domestic indices BSE Sensex and NSE Nifty traded on a bearish note and closed lower on Monday.

Fitch said growth will gradually recover to 5.6 per cent in FY21 and 6.5 per cent in the following year with support from easing monetary and fiscal policy and structural measures

Fitch said growth will gradually recover to 5.6 per cent in FY21 and 6.5 per cent in the following year

The offshore route will allow better-placed NBFCs to further diversify funding sources after fairly volatile domestic liquidity conditions over the past year

The rating action comes days after India's GDP growth hit a six-and-half-year low of 4.5 per cent in the second quarter of the current fiscal

Ind-Ra said that even GDP growth of 5.6 per cent will \"require heavy lifting by the government\". It warned that sticking to the fiscal deficit target of 3.3 per cent could push GDP growth even below 5.6 per cent

Armaco said it plans to sell 1.5% or about 3 billion shares, at an indicative price range of 30 riyals ($8.00) to 32 riyals, valuing the initial public offer (IPO), at 96 billion riyals ($25.60 billion) at the top end of the range.