Read the latest India business news 28th December 2018:
– The government is planning to introduce a new e-comm policy within the next few weeks, which would boost the sector, promote exports and ensure fair play.
– Lemon Tree Hotels has entered into a JV with Warburg Pincus, the global private equity firm, to jointly invest around Rs.3,000 crore in developing student housing and other co-living spaces in India.
– Sebi has refused to stop forensic audit of Inter Globe Finance, suspected to be a shell company. It had directed stock exchanges to appoint a forensic audit to verify any misrepresentation of financials and business of the firm in March.
– RPG Ventures is planning to raise around Rs.50-60 Crores for Seniority, its senior citizen-care product startup.
– The government has decided to infuse Rs.2,159 crore in Union Bank of India as part of Rs 28,615 crore capital infusion to be done in around 6-7 banks.
– Jayant Sinha has said that the government has prepared a revival plan for Air India focusing on building a competitive and profitable airline including transfer of non-core debt and assets to a SPV.
– The government has said that automobile sector is expected to attract $8-10 billion more in local and foreign investments by 2023. The sector got $16.5 billion in FDI between April 2000 and December 2016.
– SBQ Steels’ lenders have shown preference to take liquidation route and expressed reservations over Liberty House’s capability to take the process ahead. The total debt of SBQ Steels stands at Rs 36.40 billion.
– FSSAI has revised guidelines impacting directly the online food and grocery operators. The guidelines include anytime sampling, indicative images on platforms, only fresh food to be delivered with shelf life of 45 days.
– Cleartrip has said that after its tie-up with Digit, there’s an increase of around 7% in the customers now opting for travel insurance.
– Delhivery’s net loss during fy2018 increased to Rs.684 Crore from Rs.630 in fy 2017, although the firm posted an increased revenue of around 42% (Rs.1070 Crore).
– DGCA has issued an advisory stating that airlines may consider using local language for in-flight announcements. Also, the pilots can also announce about important monuments or sites en-route the flight.
– Hindustan Construction Company has raised Rs.497.6 crore through a rights issue.
News credit: Livemint, Economic Times, Business Standard