Here are the India Business News Headlines as on 25th July 2017:
- HPCL will retain its cultural uniqueness and brand identity even after the strategic sale of 51.11 per cent government equity in the company to ONGC. The proposed acquisition in the oil sector will create a vertically integrated public sector oil-major company.
- Westinghouse Electric Corporation, US appliances brand ranking among top 10 globally, has entered into an exclusive brand licensing arrangement with Delhi-based Amerex Private to launch its products in India in August end. Westinghouse will initially launch about 70 home appliances.
- Alibaba, Paytm have entered into a joint venture for online gaming. Paytm would hold 55% stake. JV would develop and operate platforms for users to participate and play in various games.
- Microsoft is planning to invest $50-100 million (Rs320-640 crore) for a small stake in ANI Technologies Pvt. Ltd, which runs Ola. As a part of this deal Ola could switch to Microsoft’s Azure cloud platform from Amazon Web Services.
- Google CEO Sundar Pichai has joined Alphabet board of directors, which includes founders Larry Page and Sergey Brin, and chairman Eric Schmidt. Alphabet Inc. is the parent company of Google.
- Wipro Ventures, the $100 million corporate venture arm of Wipro, has invested an undisclosed sum in a New York-based venture capital fund, Work-Bench. This is the second investment by Wipro Ventures after it invested in Israel-based TLV Partners last year.
- The proposed merger deal between Aditya Birla Group firm Idea Cellular and Vodafone India has received approval from Competition Commission of India. The merger will create India’s largest telecom firm, overtaking Airtel, and pose a stronger challenge to disrupt Reliance Jio.
- Yatra Online has acquired Air Travel Bureau, India’s largest Corporate travel services provider for $28 million.
- Uber has initiated talks with various State Governments to allow bike-taxis under its brand UberMOTO. UberMOTO is already operational in seven cities and is set to launch in Punjab within this week.
- Intellect and Infibeam have bagged contact for Government Marketplace. The five year contract is estimated to be around Rs.1000 Crore.
*News as published in Business Standard, Live Mint and Economic Times.