Read Latest India business news headlines 23rd January 2019:
– As per a KPMG report, VC investments worldwide crossed the $250-billion mark in 2018.
– TrueBil, an online marketplace for used vehicles, has raised Rs.100 crores in a Series-B round of funding from Japanese investor Joe Hirao. It has so far raised Rs.160 Crores in funding.
– Country Delight has raised around $7-10 million in a Series B round of funding led by Matrix Partners. The online milk delivery industry is said to have an addressable market of $1.2 billion, out of which only 8-10% is currently online.
– Titan is considering both inside and outside candidates to be a successor to the current MD Bhaskar Bhat. Bhat is set to retire by the end of 2019.
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– Anticipating a shortfall in revenue collection, the tax department has reportedly issued notices to around 12 asset management companies which have announced dividends but are yet to pay the tax.
– NCLAT is planning to take action against firms like Liberty House which successfully bid for companies under insolvency resolution but later withdraw giving excuses.
– Anushress Jindal has launched a microfinance firm which will be headed by Kiran Kumar, formerly with PwC and Capital One. The firm will be focussing on women entrepreneurs with a ticket size between Rs.16000-25000.
– Sun Pharma has denied giving any loan to Suraksha Realty, owned by Sudhir Valia, brother-in-law of the main promoter of Sun Pharma, Dilip Shanghvi.
– December saw the highest ever domestic flyers at 1.3 Crores. Around 14 Crore flew on the domestic sector in 2018.
– As per media reports, advertising spends on social media platforms during elections are expected to be around Rs.12,000 Crores. Facebook is expected to lead with the most spends.
– Ahmedabad hotels and restaurants continue to boycott Swiggy and Zomato over high commissions charged. They have refused to agree to the suggestion by aggregators of increasing the food prices to absorb the high commissions.
– IAMAI has opposed the suggestions that OTT services be licensed and regulated.
– As per a RedSeer report, India’s beauty and personal care products market is expected to cross $1 billion mark in 2019.
– Google is set to introduce a searchable Political Ads library in India in March 2019. It will also have country-specific political ad transparency report.
– Amul has launched camel milk in select Gujarat markets on trial basis. The company said that camel milk is high in an insulin-like protein which is beneficial for diabetic people.
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News credit: Livemint, Economic Times, Business Standard