Latest India Business News headlines 6th May 2019 that are making a buzz in India today:
- Alibaba Group is reportedly reviewing its India investment strategy to make more e-com investments and smaller early-stage deals. The potential strategy shift is said to be the result of Alibaba’s disappointments at some of its large e-comm investments like Snapdeal and Paytm Mall.
- India has informed WTO about the EU’s proposal for e-comm rules. India has opposed on the grounds that it will impact the domestic industry and job creation. EU’s proposal will be discussed at Geneva between 13-15 May.
- KKR is reportedly in discussions with Altico Capital to buy a controlling stake in the real estate-focussed NBFC.
- As per sources, the government sees little hope of a bidder emerging for Jet Airways.
- To meet the high demand and raise its market share, Air India has earmarked Rs.500 crores to get 19 of its grounded passenger jets back into operations which are grounded for various reasons.
- Dunzo, an on-demand delivery startup, is in talks with new investors to raise around $50 million to remain competitive with the likes of Swiggy. Google had invested $12 million in Dunzo, which was Google’s first direct investment in India.
- Promoters of Vodafone Idea have contributed Rs.17,920 crores to its Rs.25000 crore rights issue.
- Tata Motors may phase out small diesel cars as the demand for these are expected to slow down due to upcoming BS-VI emission norms. Maruti Suzuki has already announced to discontinue diesel models from 1st April 2020.
More in Latest India Business News headlines 6th May 2019
- InfiBeam, India’s first listed e-comm company, has terminated its contract with SRBC, an arm of Ernst & Young for allegedly passing on unpublished price sensitive information. SRBC has denied the allegations.
- Amazon has reportedly infused Rs.1380 crores in its local data centre arm to beef up its cloud services business in India.
- RBI is said to be working on a plan to incentivise Banks to take default borrowers to IBC.
- Medlife has acquired Myra, a medicine-delivery startup, in an all-stock deal. The acquisition will help Medlife gain access to express delivery services of Myra in 22 cities.
- BigBasket Parent firm, Supermarket Grocery Supplies, has closed $150 million round of funding led by Mirae Asset-Naver Asia Growth Fund.
- Reliance group has rebutted Rahul Gandhi’s allegations against Anil Ambani in which he said that Anil Ambani is a crony capitalist. Reliance Group has said that the group got contracts of over Rs.1 lakh crore during the UPA rule and the Congress president is continuing his campaign of “calumny, disinformation, distortion and malicious lies”.
- As part of its customer retention plan, Bharti Airtel has revised its ‘Airtel Thanks’ plan to offer a free subscription to Amazon Prime and Netflix for its customers. All Airtel postpaid customers with a plan of Rs.499 or above and broadband customers with a plan of Rs.1,099 or above can enjoy Netflix membership for up to 3 months.
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