Business news headlines: Latest India business news today 28 January 2021
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Read the latest India business news today 28 January 2021.
- Hero MotoCorp will soon commence operations in Mexico. The firm has entered into a distribution agreement with Grupo Salinas, a group founded by Mexican entrepreneur Ricardo Salinas.
- Pine Labs has launched its ‘AllTap App’ solution, for micro-merchants, home entrepreneurs, street vendors and cab drivers to accept card-based digital payments. It has partnered with various card networks and is planning to onboard around 1 million merchants over the next year.
- Stride Ventures, the venture debt firm, has closed its first India fund and raised Rs.350 crores. The fund is planning to launch another fund later in 2021.
- ByteDance, the promoter of TikTok app, has decided to cut down on its India team after the Indian government decided to retain the ban on the app.
- Trident Group has decided to give ESOPs worth Rs.200 crores through Trident Welfare Trust in the financial year 2021-22.
- HUL has appointed Ritesh Tiwari as executive director, finance, CFO, and a member of the board.
- Aditya Birla Fashion and Retail has signed a definitive agreement to acquire a 51% stake in luxury designer label Sabyasachi, for Rs.398 crores.
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Latest India business news today 28 January 2021 – business news headlines today
- PVR Limited has started work on raising around Rs.800 crores by selling shares to institutional investors.
- GMR Group-operated Hyderabad International Airport Limited has entered into an agreement to raise $300 million from the international bond market.
- Reliance Group has signed a US$15 million deal with Breath of Health, an Israeli company, to distribute the firm’s swift COVID-19 breath testing system that gives results within seconds.
- Swaminathan Janakiraman and Ashwini Kumar Tewari have been appointed as the new managing directors of SBI for three years. Swaminathan Janakiraman is currently Dy.MD (Finance) while Ashwini Kumar Tewari is MD & CEO of SBI Card.
- Google Maps has enhanced support for ten Indian languages. Maps will now be able to ‘transliterate’ names into native language with more ease.
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Latest India business news today 28 January 2021 – business news headlines today
- As per the new order of the Ministry of Home Affairs, the cinema halls will be able to operate with a higher seating capacity, around 75% up from above currently permissible 50%, subject to a revised SOP to be issued by I&B Ministry.
- India has signed an MoU with IEA for global energy security, sustainability.
- British drugmaker GSK has decided to shift production of the world’s first effective malaria vaccine to Bharat Biotech.
- Samara Capital and Amazon have invested Rs.275 crores into their Indian JV, Witzig Advisory Services, that owns and operates the food and grocery retail chain ‘More’.
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