Latest India Business – Bharti Airtel and Zee Entertainment are entering into a strategic content partnership with a plan to “drive the over-the-top video streaming ecosystem in India”. Partnership with Zee will give Airtel to expand and enrich its library.
The UK has confirmed the presence of Nirav Modi in the country. The CBI has now sent an extradition request papers to the home ministry. CBI has also requested the UK authorities to detain Nirav Modi since a red corner notice exists against him.
Facebook and Coca-Cola have been battling the IRS through strategies related to transfer pricing. After Medtronic Plc suffered a legal setback for avoiding $1.4 billion US tax bill, Coca-Cola and Facebook might be next.
The National Green Tribunal said that an independent judicial committee will decide in six weeks whether allow the reopening of Vedanta Ltd. It was previously shut down permanently by the Tamil Nadu Government on the grounds of causing environmental hazards.
PNB update- The former MD and CEO of Allahabad Bank, was granted bail by a special CBI court, in connection with the Rs 14,000 crore fraud at PNB. Three months ago she was relieved from all her powers at Allahabad bank due to her failure to exercise proper control over PNB bank while being the Managing Director.
Must Read: Events and Festivals in August 2018 India
Traders have called for a Bharat Bandh on 28th August as a protest to the acquisition of Flipkart by Walmart alleging that it is designed to control and dominate the retail trade through e-commerce.
NCLAT has granted an interim stay on the liquidation orders of Jyoti Structures. Earlier in July, the Mumbai bench of NCLAT had ordered the liquidation of the company after it had rejected the resolution plan submitted by a resolution professional.
The domestic unit of Coca-Cola has appointed Chandrasekar Radhakrishnan as vice-president, strategy, and insights, for the company’s India operations, and Sundeep Bajoria as vice president for its south-west Asia operations. They are expected to optimize marketing efficiencies and build the foundation for e-commerce competency for the company.
Flipkart is in talks with an artificial intelligence company Liv.ai and may shell out $40 million to acquire the company. It is seen as a bid to compete with Amazon Alexa and Google Assistant.