India Business News Headlines 15th December 2017 – Tentaran.com

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Here are the India Business News Headlines 15th December 2017:

• Walt Disney Co. has agreed to buy Rupert Murdoch’s 21st Century Fox Inc. for about $52.4 billion in stock. The deal will have a huge impact on the entertainment business globally. For Indian industry, the deal would mean that Murdoch-owned Star India’s businesses, including 49 entertainment channels, 10 sports channels, Hotstar and TataSky would be absorbed by Disney platform.

• HomeLane, an online home furnishings provider, has raised $10 million in a funding round led by Accel Partners along with RB Investments and Sequoia Capital. With this round of funding, the total investment raised by HomeLane till now is $25 million.

• Airports are set to install e-gates for Aadhaar-based travel from 2018. Once the new system gets operational, airport entry would be based on biometrics. Currently the passengers have to show printed or mobile air tickets and an ID card to enter airports.

• The Supreme Court has allowed Vodafone Group to initiate a second arbitration process under the India-UK bilateral treaty in connection with a Rs.11,000 crore tax dispute with the Indian government. However, the arbitration proceedings will not start before 10 January i.e. until completion of hearing of the case in Delhi high court.

• Competition Commission of India has approved Alibaba’s stake buy in BigBasket. The deal size is expected to be around $300 million.

• As per an Intel India commissioned report undertaken by IDC, nearly 1 in 5 organizations (22.2%) across the four verticals – TMT, BFSI, retail and healthcare have implemented AI in some way. The number is anticipated to rise considerably by mid-2019 with nearly 68.8% firms adopting AI.

• Real estate firm K Raheja is under IT lens for tax evasion. I-T department is examining books of Hypercity and other group companies to find out any discrepancy in the transactions of about Rs.150 Crores.

• Tata group and General Electric Co. have signed an agreement to build a new factory in Hyderabad for making engine parts for passenger jets.

• Jaiprakash Associates have deposited Rs150 crore in the Supreme Court registry as per its direction to protect the interests of hassled home buyers. The firm also moved an application before a bench headed by chief justice Dipak Misra seeking extension of time to deposit remaining Rs125 crore within a month, which was refused by the SC.

• ITC is set to launch milk-based drinks from its new plant in Kapurthala, Punjab. The new plant would also produce atta, noodles, wafers, fruit juices and other fruit-based beverages.

*News as published in Business Standard, Live Mint and Economic Times.
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