Business News | Page 173
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20 Aug 2016
IndiaOla to shut down TaxiForSure; lays off several employees
ANI Technologies that runs app-based cab service provider Ola has announced that it would close TaxiForSure (TFS), which it had acquired in Mar'15.
19 Aug 2016
NigeriaNigeria: A major hub for African e-commerce start ups
Even 3 years ago, online payment systems in Nigeria were inefficient and often led to failure of payments.
19 Aug 2016
LondonNorway's sovereign wealth fund uncertain about UK property prices
Norway's sovereign wealth fund (SWF), one of the Britain's biggest foreign investors, said that it was uncertain about the value of its property investments in the UK.
19 Aug 2016
SnapdealMerging talks explored by Snapdeal, Flipkart, Amazon
According to sources aware of the development, Snapdeal has initiated preliminary talks with rivals Flipkart and Amazon with regards to probing a potential merger.
18 Aug 2016
IndiaCisco to cut 7% global workforce in fiscal year 2017
On Wednesday, Cisco announced that it will cut 5,500 jobs by the end of October which will affect about 7% of its global workforce.
17 Aug 2016
Reserve Bank Of India (RBI)Government to bear debit, credit card payment transaction costs
On Tuesday, a memorandum issued by the finance ministry stated that the Government will bear the transaction cost for all payments made to it through debit or credit cards and net banking.
17 Aug 2016
Quentin TarantinoUnivision wins auction for Gawker Media
At the auction on 16th August, 2016, Gawker Media was sold to Univision for $135 million.
17 Aug 2016
IndiaSoftBank invests $62 million in OYO
OYO raised over $62 million in a new round of funding led by existing SoftBank Group Corp.
16 Aug 2016
IndiaBaba Ramdev accused for 'Misusing' the Cross in Patanjali ad
Baba Ramdev's Patanjali displays a cross which showcases the East India Company as a symbol of foreign companies.
16 Aug 2016
BusinessHike from India raises $175 million
Indian instant messaging app, Hike, announced that it closed its funding round with $175 million.
16 Aug 2016
Quentin TarantinoGawker Media's bankruptcy auction: Possible Buyers
Gawker Media, an online media company, is up for sale, and here are its potential buyers.
16 Aug 2016
United States of AmericaPwC sued for $5.5billion for negligence in mortgage fraud case
The bankruptcy trustee for Taylor, Bean & Whitaker sued PricewaterhouseCooper as the auditor of Colonial Bank, seeking $5.5 billion in damages.
14 Aug 2016
IndiaCipla boss calls Subhanu Saxena quits; cites family reasons
Cipla chief executive Subhanu Saxena confirmed that he would no longer be serving as the head of the company.
13 Aug 2016
FlipkartFlipkart launches office in Palo Alto
On 12th August, 2016, Indian e-commerce giant Flipkart established an office in the United States of America.
12 Aug 2016
IndiaIKEA laying the foundation for first Indian store
After over 3 years of dealing with the Indian Government, the world's largest furniture retailer, IKEA has started work on its first store in India which is expected to open by mid-2017.
11 Aug 2016
iOSHeyBnb launches in India across 17 cities
HeyBnb made its foray into the Indian hospitality market targeting travellers seeking accommodation across various Indian cities.
11 Aug 2016
IndiaPigeon Express to acquire GoJavas
E-commerce and logistics firm GoJavas has been in talks with courier service provider Pigeon Express, over a possible acquisition deal.
11 Aug 2016
BusinessCourt asks Delhi Government to tame app-based cab pricing
The Arvind Kejriwal-led AAP Government was asked by the Delhi High Court to draft a plan for app-based taxi services like Ola and Uber.
10 Aug 2016
Google SearchNow, use Google to order food
Now, you will be able to order your food or book a table in restaurant just through Google.
10 Aug 2016
North AmericaTata Chemicals sells urea business to Yara India
Tata Chemicals urea business has been sold to Yara India for Rs.2670 crores on a 'slump sale' basis.
10 Aug 2016
IndiaNo operating losses for Air India this year, says minister
Civil Aviation Minister Ashok Gajapathi Raju said the state-run Air India had made no operating loss this year despite its precarious financial condition.
10 Aug 2016
BusinessRandstad Holdings acquires US rival Monster.com
World's second largest human resources and recruitment firm, Amsterdam-based Randstad Holdings has announced it would acquire its US-based rival Monster.com.
10 Aug 2016
BusinessSwiggy to don the chef's hat soon
Swiggy is planning to foray into the world of in-house cooking and will not just be restricted to delivering food.
10 Aug 2016
IndiaHDFC and Max to merge their life insurance businesses
HDFC and Max Group announced the merger deal of their life insurance businesses.
09 Aug 2016
Indian Premier League (IPL)Sony all set to buy Ten sports
The owner of Zee Entertainment Enterprises Subhash Chandra is all set to sell Ten Sports to Sony Pictures Network in a deal which will be announced in the next three to four weeks.
09 Aug 2016
IndiaGoJavas suspends operations temporarily; cites technical issues
Snapdeal-backed logistics firm GoJavas has, citing technical problems, temporarily suspended its operations.
09 Aug 2016
Alibaba GroupJet.com to be acquired by Walmart for $3bn in cash
Walmart will be acquiring Jet.com — an online-only shopping site for $3 billion in cash, plus up to $300 million in shares.
08 Aug 2016
National Green Tribunal (NGT)Now, convert Diesel/Petrol cars into Hybrid Electric ones
The bans on diesel vehicles imposed by the National Green Tribunal (NGT) has mostly received vehement reactions.
08 Aug 2016
IndiaNaspers set to buy payments platform Citrus Pay
South African media group Naspers will buy India-based payment service provider Citrus Pay, in a deal that will value the payment platform at around Rs.1,000 to Rs.1,200 crore.
07 Aug 2016
Kishore BiyaniBig Bazaar goes online with Future Group and Paytm Partnership
Retail company Future Group tied up with Paytm, an e-commerce mobile payment and commerce platform this month.
07 Aug 2016
IndiaIRDA issues remuneration guidelines; caps CEO's salary at Rs.1.5 cr
In a first, the Insurance Regulatory and Development Authority (IRDA) of India issued remuneration guidelines for non-executive and managing directors at insurance companies.
07 Aug 2016
Mukesh AmbaniRIL seeks to commission $35 billion worth projects in 2016-17
The Annual Report 2015-16 stated that the company seeks commissioning of projects with investment of $35 billion in 2016-17.
06 Aug 2016
San FranciscoMayogate: Hampton Creek accused of buying back its vegan mayo
Food tech start-up Hampton Creek is facing the music for buying back its own vegan "Just Mayo" under a large-scale undercover operation.
06 Aug 2016
BusinessForeign exchange reserves soar by $3 bn
According to an RBI statement, foreign exchange (FE) reserves in India went up by nearly $3 billion for week ending July 29, 2016.
06 Aug 2016
IndiaPatanjali, HUL, PepsiCo face regulators for misleading advertisements
India's advertising regulator Advertising Standards Council of India (ASCI) hauled up a fleet of consumer goods companies for broadcasting misleading advertisements to the public.
05 Aug 2016
IndiaOrkut Founder's New App
In 2016, ex-Google employee and Orkut founder, Orkut Büyükkökten, released a new social media app called Hello.
05 Aug 2016
BusinessBank consolidation may be stalled due to Non-Performing Assets
Until the problem of Non-Performing Assets (NPAs) is solved by the public sector banks, the consolidation of banks is likely to be kept on hold.
05 Aug 2016
Saudi ArabiaSharp drop in foreign remittances
A steady drop in crude oil prices and a subsequent decline in remittances from Gulf countries is raising the hackles of the Indian Government.
04 Aug 2016
Union CabinetGreen signal for mega spectrum auction
The Union Cabinet has approved spectrum usage charges (SUC) to be calculated at a minimum of 3% of adjusted gross revenues.
03 Aug 2016
IndiaHealthKart raises over Rs.80 crore from Sequoia, Kae Capital
HealthKart reportedly raised Rs.80 crore from existing investors Sequoia Capital and Kae Capital, along with other investors in a Series E funding round, according to documents with the Registrar of Companies.