Latest India Business News 26th August 2019 – Tentaran

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Read Latest India Business News 26th August 2019:

  • Reliance Retail may launch its “new commerce” venture around Diwali, on which it has been working on for around two years. It’s an offline-to-online initiative, which would link producers, traders, small merchants, brands and consumers through technology.
  • Alibaba Group is reportedly temporarily halting fresh investments in India to review its India strategy. Alibaba is one of the biggest investors in various Indian startups like Zomato and Paytm.

latest india business news 26th august

  • A senior Australian minister is likely to meet Gautam Adani during his trip to India to discuss Adani’s Rs10,000 crore Carmichael coal project. Australian authorities may try to persuade Adanis to start construction asap.
  • Toyota is planning to continue selling diesel models in India even as their prices are expected to very high due to the implementation of upcoming BS-VI emission norms from April 1, 2020.
  • NRAI has said that it will soon initiate a movement against online delivery aggregators which are affecting the sustainability and growth of the restaurant industry. More than 2,500 restaurants across India have reportedly logged out against deep discounting practices of online food aggregators.
  • IndiGo shall seek reappointment of M Damodaran, its chairman for five years at the AGM to be held on August 27.
  • Embassy Buildcon, the holding company of WeWork India, is pledging its shares in WeWork, approx. 26 percent, for a ₹200 crore financing facility from ICICI Bank.

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

Latest India Business News 26th August 2019

  • Due to a lack of consistent returns and high management fees in PE and VC funds, various Indian family offices are coming together to form a consortium to make investments on their own. The proposed ‘Family Office Consortium’ is the brainchild of Waterfield Advisors, a multi-family office.
  • SoftBank is reportedly in advanced discussions to invest $400 Million in Lenskart and around $150 million in Dailyhunt.
  • BharatPe has raised $50 Million in a fresh round of funding led by Ribbit Capital.
  • From 1 September 2019 Bank of Maharashtra shall link interest rate on its retail loans with repo rate which will make loans cheaper.
  • NCLT has initiated insolvency proceedings against Today Homes Noida, a real estate firm on homebuyers’ plea.

Must Read: Pakistan has been blacklisted by Financial Action Task Force for terror funding

Latest India Business News 26th August 2019

  • Nitin Gadkari has instructed railways to make use of kulhad mandatory at 100 railway stations. He has also suggested making use of kulhads mandatory on tea stalls at bus depots. The move is aimed to provide work for local potters as also environment conservation.
  • During the last week, seven out of the 10 most valued Indian companies, including RIL, HDFC Bank, HDFC, ITC, ICICI Bank, SBI and Kotak Mahindra Bank cumulatively lost around Rs.86,879 Crores in market valuation, ITC taking the biggest hit.
  • RCom has asked Ericsson to refund Rs.579.74 Crores as the insolvency process initiated by Ericsson against RCom has resumed.
  • IKEA is set to lease space in a retail mall in Mumbai to open its store. This is the first time ever across the world that IKEA is making such a move.
  • Lenders and investors of CG Power want Gautam Thapar to be removed as the Chairman of the firm. The demand comes after an investigation revealed multi-crore scam in the firm.

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

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One thought on “Latest India Business News 26th August 2019 – Tentaran

  • August 26, 2019 at 2:17 am

    Very good ji Ram Ram ji


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