Latest India Business News Headlines 14th August 2018

Read latest India business news headlines 14th August 2018:

India business news headlines 14th August 2018

  • Amazon has invested another ₹2,700 crores in its Indian arm which brings its total investment in India to approx. $4 billion in five years. Amazon had committed to invest at least $5 billion in India.


  • Energy Infrastructure (India) has been selected by the Gujarat government to set up an LPG terminal project at Okha for an investment of Rs.700 crores. The project had been held up for almost two decades due to various reasons.


  • Infosys shall build a software development center in West Bengal with an investment of approx. ₹100 crores. In the first phase of construction, the facility will be able to accommodate 1,000 employees.


  • Edelweiss Alternative Asset Advisors will acquire two funds from Milestone Capital Advisors, registered with Sebi having combined assets of over Rs 150 crores.


  • PNB update – The central government has given go-ahead to RBI and CBI to prosecute and initiate criminal charges against former PNB MD & CEO Usha Ananthasubramanian, former ED Sanjiv Sharan and Ram Sangapure – another ED of PNB in the ₹14,356 crore scam.


  • Nykaa has ventured into premium Indian designer wear and has launched Nykaa Design Studio, which now showcases pret and daily wear collections of designers including ASAL By Abu Jani Sandeep Khosla, Masaba, Abraham & Thakore and Label by Ritu Kumar.


  • Cadila Healthcare shall buy a 51% stake in Windlass for ₹155.55 crore to expand pharma manufacturing footprint. The deal shall be completed by the end of Sept 2018.


  • Vogo, a scooter and bike sharing start-up, has raised around $6-7 million in Series A round of funding led by ANI Technologies and Pawan Munjal. Vogo lets customers rent scooters for short one-way trips at various locations in Bengaluru and Hyderabad.


  • Publicis Media India has appointed Sejal Shah as managing partner and head of its media-trading arm Publicis Media Exchange. Sejal was serving with Mindshare as trading head South Asia.


  • The finance ministry may not accept RBI’s demand for greater regulatory and supervisory powers over state-run banks.


  • In order to make Mutual funds more attractive for investors, Sebi will take several measures including promoting go green for cost-effectiveness, examining existing expense ratio applicable.


  • IOC is planning to invest Rs 20,000 crore in city gas distribution projects in the next 5-8years. IOC is hoping to net licenses to retail CNG to automobiles and piped natural gas to households and industries in around 20 cities.

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