NEW DELHI (TIP): Flipkart has raised an estimated $2.5 billion from SoftBank Vision Fund, making the fund created by Japanese conglomerate SoftBank one of the biggest shareholders of India’s largest ecommerce player. “This is the biggest ever private investment in an Indian […]
Deal dynamics ? The sale price is huge markdown for Snapdeal, which acquired payment wallet FreeCharge for $400 m in 2015 ? The deal will help the third largest private sector lender to double the customer base and address the digitally savvy people ? FreeCharge clocked revenues of Rs 80 […]
NEW DELHI (TIP): Country’s largest telecom company, Bharti Airtel today posted 74.89% decline in consolidated net profit to Rs 367 crore for the June quarter of the current fiscal, hit hard by the disruptive pricing of newcomer Reliance […]
LONDON/NEW DELHI (TIP): British liquor giant Diageo said it had asked beleaguered businessman Vijay Mallya to return $40 million paid to him as part of the $75 million (Rs 515 crore) sweetheart deal for his exit from United […]
NEW DELHI (TIP): The security agencies, including the Intelligence Bureau (IB), have raised concerns over the Centre’s decision to allow 100% foreign direct investment (FDI) in domestic airlines’ operations. Recently, Union Home Secretary Rajiv Mehrishi chaired a meeting to […]
NEW DELHI (TIP): E-commerce major Flipkart is expected to make a revised offer of USD 900-950 million for buying rival Snapdeal, according to sources. The new offer almost matches the initial asking price of USD 1 billion for […]
‘First-time-ever’ records continue to tumble as rally continues on BSE and NSE Mumbai, July 13: The Sensex today went past the 32,000- mark for the first time ever, soaring over 232 points, and the Nifty closed at a […]
WASHINGTON (TIP): The board of the US-India Business Council comprising CEOs of some top American companies has voted to sever ties with the powerful US Chamber of Commerce, laying bare years of simmering tensions, including over clashing policy priorities. […]
SINGAPORE (TIP): Oil prices fell by more than 1 percent early on Friday, with U.S. crude futures dipping below $45 per barrel as news of a rise in U.S. production added to earlier reports that OPEC output was also on […]
HAMBURG (TIP): As the world debates use of big data and analytics to improve financial inclusion, India’s Aadhaar system has come in for praise by a global body on financial reforms for expanding banking reach and lesser use of cash. In a progress […]
NEW DELHI (TIP): The Modi government’s Goods and Services Tax (GST) is “very, very imperfect” and cannot be called “one nation, one tax” as it has seven or more rates, senior Congress leader P Chidambaram has said. The Congress will press for […]
NEW DELHI (TIP): Global e-tailing giant Amazon has invested over Rs 2,000 crore (over $310 million) in India in the past two months as it looks to consolidate its position in the country and fend off local rivals like Flipkart. […]
BENGALURU (TIP): Infosys president and head of Americas Sandeep Dadlani has resigned, a sudden development that some attributed to growing pressures on the company’s top executives to deliver, following a series of unimpressive quarterly performances. Dadlani, who has been […]
NEW YORK (TIP): Takata Corp , the Japanese company facing billions in liabilities stemming from its defective air bag inflators, is preparing to file for bankruptcy as early as next week as it works toward a deal for financial backing from US […]
NEW YORK (TIP): Amazon.com Inc said on June 17 (Friday) it would buy US organic supermarket chain Whole Foods Market Inc for $13.7 billion, including debt, marking the internet retailer’s largest deal and biggest foray into the brick-and-mortar retail sector. The deal, which puts a 27% premium on Whole […]
First set of data in 2019 ? Switzerland has been long perceived as one of the safest havens for the illicit wealth allegedly stashed abroad by Indians ? The exchange of information will be carried out based on the Multilateral Competent Authority Agreement on the Automatic […]
HIGHLIGHTS ? Aadhaar card has been made mandatory for opening bank accounts and conducting financial transactions of Rs 50,000 and above. ? Those with existing accounts will also have to submit their unique identification number by the end of December. ? Not […]
BCB Bancorp, Inc. to Acquire IA Bancorp, Inc. The merger is expected to close in the fourth quarter of 2017 EDISON, NJ (TIP): BCB Bancorp, Inc., based in Bayonne, the holding company for BCB Community Bank, has announced it has entered into a definitive […]
NEW DELHI (TIP): Telecom operator Bharti Airtel today said it has received the approval of the SEBI, BSE and NSE for the proposed scheme of merger between Airtel and Telenor (India) Communications Private Limited. The Sunil Bharti Mittal-owned company in February had […]
MELBOURNE (TIP): Indian conglomerate Adani Group today agreed to pay royalties on coal produced from its $16.5 billion Carmichael coal project in Australia after it struck an agreement with the Queensland government to help the controversy-hit project move forward. […]
SEOUL (TIP): Oil prices dropped on Friday amid worries that U.S. President Donald Trump’s decision to abandon a global climate pact could spark more crude drilling in the United States, stoking a persistent glut in global supply. Global benchmark Brent […]
NEW DELHI (TIP): Finance Minister Arun Jaitley has said demonetisation alone was not responsible for the fall in the GDP growth in the fourth quarter and said 7-8% growth in the current global context is “reasonable by Indian standards”. The Finance Minister blamed cumulative factors […]
NEW DELHI (TIP): Indian factory growth cooled in May as new orders expanded at a more modest pace, but manufacturers were able to raise prices slightly, according to a private survey. The Nikkei Manufacturing Purchasing Managers’ Index, compiled by IHS Markit, […]
VIENNA (TIP): OPEC decided on May 25 (Thursday) to extend cuts in oil output by nine months to March 2018, OPEC delegates said, as the producer group battles a global glut of crude after seeing prices halve and revenues drop […]
NEW DELHI (TIP): International credit ratings agency, Moody’s Investors Service today downgraded state-owned IDBI Bank’s rating citing asset quality concerns and extremely weak capitalisation. The rating actions reflect the significant deterioration in IDBI’s financial profile, driven by asset quality […]
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