Latest India Business News 22nd August 2019 – Tentaran

Read Latest India Business News 22nd August 2019:

  • As per an estimate by media buyers, despite a slump in consumer spending and slow down, advertising during the festive season is expected to grow at a rate of 10-12 percent over 2018 to touch around Rs.20,000 crores in 2019.
  • Due to pressure from NRAI to end steep discounting on dine-in offers, Zomato agreed to make some changes in its Gold program. The suggestions, however, have not been accepted by NRAI.

latest india business news 22nd august

  • As per a Trai report, in the last five years, prices of mobile data have fallen drastically by about 95 percent but the cumulative revenue of telecom operators has risen by approx. 2.5 times to Rs.54,671 crores.
  • Nazara Technologies, a mobile gaming platform, has acquired a 67 percent stake in Sportskeeda, a sports content website, for Rs.44 Crores. Sportskeeda reportedly has a monthly user base of 45 Million.
  • Amazon has opened its largest campus in the world in Hyderabad, spread over 9.5 acres which will house over 15000 employees. Interestingly it’s been reported that measured by weight, the building contains over 2.5 times more steel than the Eiffel Tower.

Must Read: India monthly roundup of M&As and tie-ups in July

Latest India Business News 22nd August 2019

  • ITC Ltd. is reportedly considering a bid to buy a stake in Coffee Day Enterprises.
  • Parle Products may reportedly be forced to lay off around 10,000 workers if consumption slowdown persists.
  • Khadi and Village Industries Commission had a turnover of over Rs.74,323 crores in 2018-19, a growth of over 145% since 2014-15.
  • Microsoft Research India has announced the launch of a center for Societal impact through Cloud and AI. The center will focus on creating and nurturing projects that can have a real-world and large-scale societal impact in collaboration with a number of partners, like academia, startups, and NGOs.
  • Google and the Telangana government have signed an MOU to improve and get more local language content online using Navlekha, Google’s digital publishing tool.

Must Read:  India monthly roundup of Start-up world in July, funds, funding and investments

Latest India Business News 22nd August 2019

  • BCCI announced that Paytm has retained title sponsorship rights for all domestic and international cricket matches played in India for five years for Rs.326.80 Crores to be paid between 2019 and 2023.
  • Zolostays, backed by Nexus Venture Partners, is in advanced talks with new investors to raise up to $100 million.
  • From 1 October 2019, SpiceJet will shift its entire Mumbai operations to Terminal 2 of Chhatrapati Shivaji International Airport.
  • Vietjet, Vietnam budget carrier, will start direct flight operations between Delhi and Ho Chi Minh, four times a week, from 6 December 2019.
  • In line with layoffs at HSBC globally, HSBC India has laid off around 200 employees engaged in tech functions in Pune and Hyderabad.

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