Latest India business news headlines 27th April 2018

Here’re the latest India business news headlines 27th April 2018 :

India business news headlines 27th April 2018

 

  • Amazon is setting up five more warehouses in Gurgaon, Mumbai, Bangalore, Kolkata and Vijayawada. With the addition of these fulfillment centres, Amazon will have a total of 67 fulfillment centres in 13 states. FCs are warehouses where sellers can stock their inventory.

  • CBI has filed a case against Axcel Sunshine and Win Wind Oy, controlled by C. Sivasankaran, former Aircel promoter, for allegedly defaulting on loans worth Rs.600 crore from IDBI Bank. Searches are being done at 50 places across various cities in India.

  • National Pharmaceutical Pricing Authority has permitted Abbott Healthcare to discontinue selling its premium metallic stent, Xience Alpine Premium, from the Indian market. Due to regulatory intervention on stent prices, Abbott had applied for withdrawal of its high-end stents last year.

  • National Highways Authority of India has signed its first toll-operate-transfer agreement with Sydney-based Macquarie Group. Under the agreement, Macquarie will make an upfront payment of Rs9,681.5 crore within 120 days of the signing the contract. This is one of the largest foreign investments in India’s public infrastructure.

  • The government is likely to release a draft of new National Telecom Policy on 1st May to seek public comments.

  • Alphabet, the parent company of Google, is likely to buy a minority stock in Flipkart after the Walmart deal, which is expected to be announced soon.

  • Future Group is set to launch an app like Amazon Prime and will use Easyday stores for delivery of groceries. They will be competing with players like Amazon, Grofers and BigBasket.

  • Shopclues will open its first offline store in Lucknow next month to showcase private labels and products across various categories like fashion, accessories, smartphones etc.

  • Google is launching a three month India focussed mentoring programme for startups which are building solutions using technologies like AI and machine learning. It will select 8 to 10 startups for the program.

  • Fortis case : Fortis Healthcare has invited Suvalaxmi Chakraborty, Indrajit Banerjee and Ravi Rajagopal to join its board as independent directors before a board meeting on Friday. These were recommended shareholders of the National Westminster Bank Plc, East Bridge Capital Master Fund and East Bridge Capital Master Fund which together hold 12.04% in Fortis Healthcare.

*News as published in Business Standard, Live Mint and Economic Times.
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