Business

State Pension Fund Recovers $211.75 Million from $423.5 Million Homeplus Investment

Published

11 months ago

March 10, 2025

South Korea’s National Pension Service (NPS) has announced that it has recovered approximately half of its investment in Homeplus Co., totaling 612.1 billion won ($423.5 million). This comes as the major retailer has begun a court-led rehabilitation process due to liquidity concerns.

The NPS initially invested in Homeplus through a fund in 2015, which included 582.6 billion won in redeemable convertible preferred stock (RCPS). This investment was made during the acquisition of the retail chain by the private equity firm MBK Partners.

RCPS is a type of financial instrument that allows investors to receive fixed dividends, with the option to convert their shares into ordinary stock. It also permits the issuing company to buy back the shares at a predetermined price or date, as reported by Yonhap news agency.

To date, the NPS has retrieved 313.1 billion won through refinancing and dividends related to the RCPS. The NPS has confirmed that it has not agreed to any modifications regarding the issuance terms of the RCPS, which remain unchanged since the original investment. The organization is committed to recovering the remaining portion of its investment.

Homeplus initiated the rehabilitation process this week after a Seoul court approved MBK Partners’ request. This decision followed downgrades to the company’s rating by several local credit agencies.

Some suppliers have paused or are contemplating suspending their deliveries to Homeplus, which was forced to seek court-led rehabilitation amid signs of liquidity issues. While many businesses continue to supply products to Homeplus, as there is no definitive evidence of an immediate liquidity crisis, some vendors are exercising caution due to fears that Homeplus may struggle to fulfill payment obligations for received goods. Notably, LG Electronics has halted shipments to Homeplus due to increasing financial risks, while Samsung Electronics is reportedly considering similar actions.

Business

India May Buy More Oil From Venezuela Instead of Russia

Published

2 weeks ago

January 31, 2026

Namma Kudla

Business : The United States has told India that it can soon resume buying oil from Venezuela.The suggestion is part of a U.S. effort to reduce India’s dependence on Russian crude oil.

This pitch comes as India plans to cut Russian oil imports by several hundred thousand barrels per day in the coming months. Under the Trump administration, the United States had imposed a 25 % tariff on countries that bought Venezuelan oil, including India.

Now, the U.S. wants India to resume Venezuelan oil purchases to help diversify India’s energy sources. The United States is also trying to reshape energy ties with India as part of broader diplomatic engagement.

Venezuela’s interim president Delcy Rodríguez said she agreed with India on energy cooperation in a recent phone call with Prime Minister Narendra Modi. PM Modi said both sides agreed to deepen their partnership and expand cooperation in all areas.

Venezuela has the world’s largest proven oil reserves. Recently, Venezuela opened its oil sector to private investment to attract foreign capital and boost production.

India was one of the major buyers of Russian crude after the Ukraine war began in 2022. But India is now seeking alternative suppliers as part of its energy strategy.

Business

Chicken Prices Remain Stable in Local Markets

Published

2 weeks ago

January 27, 2026

Namma Kudla

Chicken prices remained stable in local markets today.Traders said there was no major change in rates.Consumers continued to make regular purchases.

Boneless chicken is priced at ₹210 per kilogram.Regular chicken is available at ₹160 per kilogram.Chicken liver is being sold at ₹120 per kilogram.

Country chicken is priced higher due to demand.It is selling at ₹360 per kilogram.Live chicken is available at ₹130 per kilogram.

Skinless chicken is priced at ₹200 per kilogram.Vendors said supply is sufficient in the market.They expect prices to remain steady in the coming days.

Customers expressed satisfaction with the current rates.Market officials said there is no shortage of chicken.

Business

Gold Prices Edge Up in India on January 19, 2026

Published

3 weeks ago

January 19, 2026

Namma Kudla

Gold prices in India recorded a slight increase on January 19, 2026, supported by global market trends, local demand, and movements in the rupee-dollar exchange rate.

As per market estimates, 24-carat gold, which is considered pure gold, is priced at ₹14,569 per gram, or ₹1,45,690 per 10 grams. 22-carat gold, commonly used for jewellery, is trading at around ₹13,355 per gram, or ₹1,33,550 per 10 grams.

The prices have risen marginally compared to the previous day. The increase is mainly linked to a weaker Indian rupee against the US dollar, which makes imported gold more expensive.

Gold rates vary slightly across cities such as Mangalore and other parts of the country. These differences depend on local taxes, transportation costs, jeweller margins, and regional demand.

Demand for gold remains strong due to the wedding season and festive buying, which continues to support higher prices. Investors also turn to gold during uncertain economic conditions, as it is seen as a safe-haven asset.

Experts say that global geopolitical developments, inflation concerns, and central bank policies are also influencing international gold prices, which in turn affect domestic rates.

Market participants expect gold prices to remain firm in the near term if the rupee stays weak and demand continues at current levels.