Latest India Business News Headlines 17th August 2018

Latest India Business News Headlines – Pratt & Whitney Co. Inc. and Lockheed Martin Corp. executive Anand Stanley has been appointed as the President and Managing director of its Airbus SE in its India Unit and will join on 1st October 2018.

 

Latest India Business News Headlines

 

Vivo ramped up its manufacturing capacity at its Greater Noida facility and invested about ₹200 crore. It has earlier invested ₹300 crore in the plant and added surface-mount technology lines to the unit.

 

Must Read: Latest India Business News Headlines 16th August 2018

 

Kiran Koteshwar, the CFO of Spicejet says that airline industry is suffering from high costs on the back of a falling rupee and high oil price and it tries to pass on the increasing cost to its customers but there is a limit to which prices can be increased in India.

 

Religare Enterprises, which has recently acquired Chokhani Securities, an NBFC has raised ₹112 crore through a qualified institutional placement. Chokhani securities is targetting small and medium enterprises and plan to start its lending operation from January 2019.

 

JSW steel made an offer of ₹19,700 crore to the committee of creditors of Bhushan Power and Steel Ltd, which owes about ₹45,000 crore to its lenders.

 

Dara Khosrowshahi, the CEO of Uber, called India “high potential market”, and said that the company is “cementing its leadership position” in India and the Middle East. Earlier this year, Uber has sold its operation to its rival, Grab, in the South East and is focusing on the regions like India and Middle East Africa, where it believes it can win.

 

The former Prime Minister of India, Atal Bihari Vajpayee, passed away at 5.05pm in AIIMS Delhi, at the age of 93, after being admitted in the hospital for more than two months.

 

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