India business news headlines 2nd April 2019
Zomato has added 17 more cities to its service areas taking the total number of cities it serves to 213.
Airbnb Inc. has invested an undisclosed amount in Oyo. The investment is said to be around $150-200 million. The deal will allow Oyo’s villas and homes in India, Dubai and other markets to be listed on Airbnb.
RBI shall launch an auction on 23rd April to buy dollars worth around 5 billion from banks to infuse liquidity into the system.
Pacific Alliance Group, a leading Asian PE Manager, is set to open an office in India and has roped in Nikhil Srivastava, Director KKR as head of its India PE operations. PAG manages assets amounting to over $20 billion.
Trai has issued a show-cause notice to BARC India for not complying with its direction to release TV viewership data on the website.
Vinod Dasari has taken over as CEO of Royal Enfield, just after one day of ending his term with Ashok Leyland. He will also join the board of Eicher Motors as ED.
Facebook has said to have taken down over 1100 pages, groups and accounts from its platform as also from Instagram linked with Congress, BJP and Pakistan as part of its attempt to curb the spread of misinformation during elections.
Ajay Piramal-led Piramal Group has roped in Canada Pension Plan Investment Board, largest pension fund manager of Canada, as an anchor investor for a total commitment of around $2 billion to acquire operating renewable energy and roads assets.
Everstone will sell its entire stake of 70% in Rubicon Research for Rs.1,000 crore which it had bought in 2016 for Rs.220 crores. Rubicon is into R&D and manufacturing of branded and specialty generic and OTC products.
Jet Airways – DGCA has approved the summer schedule of Jet Airways flights only till the 25th April only while the flight schedule of all other domestic airlines have been approved till 26 October.
Citibank N.A. has settled a case with Sebi for Rs.4.5 Crores regarding the bank’s alleged failure to adequately supervise an employee who carried out an unregistered portfolio investment scheme.
Flipkart is almost doubling its tech base in Israel after acquiring Upstream, an analytics startup.
IL&FS case – Serious Fraud Investigation Office has arrested Hari Sankaran, former MD & and vice-chairman of IL&FS.