Latest India Business News Headlines 24th August 2018

Read latest India business news headlines 24th August 2018:


Reliance Jio has completed the sale of its media convergence nodes and related infrastructure assets which was worth ₹ 2,000 crores. Earlier in August, RCom had reinstated bank guarantees worth ₹ 774 crores with the department of telecommunications.

Mindshare has bagged the digital media mandate of fast moving consumer goods HUL. HUL has appointed Mindshare Fulcrum to be responsible for planning and buying of digital media, along with other responsibilities.

Ajay Tyagi, the Chairman of SEBI said that India will soon come up with policies on close-ended funds. Close-ended schemes are the ones where the money is locked in for a specific period.

A panel under retired justice B. N. Srikrishna had been set up by ICICI bank to probe the allegations against Chanda Kochhar, the Managing Director and the chief executive officer and they are expected to submit the report in the next three months.

Digitas India, Publicis Groupe-owned digital agency has announced Himani Kapadia as the Chief executive of Digitas after SapientRazorfish stepped down.

Chanda Kochhar who is currently on indefinite leave due to a pending probe against her in an alleged quid pro quo in loan sanctioning case is set to retire from the Board of ICICI Securities. She has offered herself to be reappointed on the Board.

Volkswagen is working towards invested around $4 billion by 2025 to build a new software operating system known as  “vw.OS” which will be introduced in the VW brand electric cars from 2020 onwards. They are trying to build digital businesses and products including a cloud computing-based platform which will connect the vehicles and help the customers in vehicle sharing.

Goldman Sachs is shutting down two hedge funds which are run by partners Ryan Thall and Hideki Kinuhata based on Asia. The two funds combined, manage about $1.4 billion in assets.

New Delhi Municipal Council has put a relaxation in the eligibility criteria for bidders of  Taj Mansingh hotel. After two failed attempts to auction the hotel, this decision was taken at a council meeting presided over by Chief Minister Arvind Kejriwal. Now the minimum number of bids has been reduced from three to two. Other details shall be notified soon.

WhatsApp feels that it’s payment service is getting unfair Government treatment under India’s regulatory regime while Google and other payment services are getting an unfair advantage. Now WhatsApp is looking at other countries for a full-scale launch.

Ajay Singh, the Chairman of Spicejet is in advance talks with JetBlue Technology Ventures, to invest in the silicon valley. SpiceJet is looking to tie up with the startups so that it can contribute to low-cost carrier’s operation.

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