China and India, the world’s two largest greenhouse gas emitters, are keen on joint ventures in manufacturing electric vehicles as companies from both countries held talks at a three-day event in Beijing...
After WealthTrust buyout, digital platform space may see more consolidation
The buyout of Mumbai-based mutual fund (MF) digital platform Wealth Trust, which recently got a lease of life after Orowealth acquired it, indicates more consolidation in the direct platform space. According to experts...
Bharti Airtel to give Tanzania bigger stake in local telecoms company
Bharti Airtel has agreed to give part of its stake in Airtel Tanzania to the government, raising the East African nation’s holding in the mobile phone operator to 49 percent from 40 percent, the president’s...
BHEL moves NCLAT against Monnet Ispat’s CoC, bats for operational creditors
Government-owned Bharat Heavy Enterprises Limited (BHEL) has moved the National Company Law Appellate Tribunal (NCLAT) challenging the decision of the Committee of Creditors (CoC) of Monnet Ispat & Energy to assign...
T-Systems to sell mainframe unit to IBM in $986-million deal: Report
Deutsche Telekom’s struggling IT services and consulting business T-Systems is selling its mainframe service business to U.S. firm IBM, a newspaper reported on Sunday. The Handelsblatt daily cited an internal memo...
AGC Networks completes acquisition of Black Box Corp; stock rises 10%
Shares of AGC Networks locked in upper circuit of 10 per cent at Rs 115 on BSE after the company announced that its wholly-owned subsidiary has completed the acquisition of Black Box Corporation, a leading digital...
Prabhat Dairy to enter animal nutrition business, partners Danish firm
Prabhat Dairy is entering the animal nutrition business, which includes cattle feed, nutrition supplements and animal genetics, in association with the Denmark-based DLG which is into high-quality vitamin- mineral feeds...
Ola raises Rs 520 crore from HK-based hedge fund Steadview Capital
Ride-hailing company Ola has raised Rs 520.79 crore ($74 million) in a funding round from Hong Kong-based hedge fund Steadview Capital, an existing investor in the Bengaluru-based company. This raises Ola’s valuation to...
Lampert submits new $5-bn takeover bid to save Sears Holdings: Sources
Sears Holdings Corp Chairman Eddie Lampert submitted a revised roughly $5 billion takeover bid for the company on Wednesday, people familiar with the matter said, boosting the chances that the US department store...
IDBI Federal Life expects flat growth as stake-sale uncertainties fade
IDBI Federal Life Insurance is expecting a flat growth in its new business premium in FY19 on the back of a revival in the last quarter. This comes after witnessing contraction for the most part of the fiscal due to the...
Shell completes acquisition of Total’s 26% stake in Hazira LNG in Gujarat
Royal Dutch Shell on Wednesday said it has completed the acquisition of French oil major Total SA’s 26 per cent stake in the company that operates 5 million tonnes per annum-Hazira LNG terminal in Gujarat...
Not necessary to start insolvency against principal borrower first: NCLAT
A financial creditor can seek to first initiate insolvency proceedings against a corporate guarantor of a company, instead of the company itself, in case the guarantee fails, the National Company Law Appellate...
