Top 10 biz headlines: Airport privatisation on hold, gains for Jio and BSNL

Govt wary of Adani-like bidding streak, puts airport privatisation on hold

The second round of privatising six airports in Amritsar, Varanasi, Bhubaneswar, Indore, Raipur and Trichy has been put on the back burner as different arms of the government are debating whether to cap the number of airports an entity can bid for. Read more

Vodafone Idea, Bharti Airtel losses were gains for Jio and BSNL in December

Bharat Sanchar Nigam (BSNL) and Reliance Jio were the two companies which added mobile subscribers in December, according to the data released by the Telecom Regulatory Authority of India (Trai). Vodafone Idea and Bharti Airtel lost a substantial chunk of users after a hike in tariffs. Read more

Sebi probe finds undisclosed related party transactions at IndiGo: Report

A preliminary probe by the Securities and Exchange Board of India (Sebi) has suggested prima facie violations of corporate governance and listing disclosure norms in certain related-party transactions involving budget carrier IndiGo’s parent firm, InterGlobe Aviation, sources said. Read more

Coronavirus impact: BPCL snaps up 500 mn barrels of distress crude

Since the outbreak of the epidemic, crude prices have plunged over USD 15 a barrel to around USD 50 now as large parts of China, the largest importer and consumer of crude, are under Beijing-ordered lockdown and millions of factories are closed. Read more

JSW Steel's $2.7-billion buy of Bhushan Power & Steel faces legal test

JSW Steel’s $2.7-billion purchase of a bankrupt steel mill is facing a fresh hurdle after a former chairman of Bhushan Power & Steel challenged the deal in the country’s top court. Read more 

Air France, Virgin Atlantic add India flights, fill gap left by Jet Airways

On Tuesday, Air France announced Paris-Chennai service from June 14 while Virgin Atlantic Airways will begin Manchester-Delhi flights from October 26. Both Air France and Virgin Atlantic are part of Delta-led joint venture which controls around 23 per cent of passenger and cargo capacity between Europe and the US. Read more 

Donald Trump's India visit: Indian CEOs laud relaxed regulations in US

Close to a dozen chiefs of India Inc who met the United States President Donald Trump lauded him for relaxing regulations that improved the business environment. The President at the same time talked about his achievements during his Presidential term and pitched for his re-election. Read more

ONGC seeks new petroleum exploration licence for PMT oil, gas fields

State-run Oil and Natural Gas Corporation (ONGC) has lined up a plan to revive the Tapti field near Mumbai. Towards this end, the country’s largest hydrocarbon producer has approached the government for a fresh petroleum exploration licence spanning 10 years, said multiple sources close to the development. Read more

Corporate India seeks to barricade brass from frauds, bankruptcy concerns

Demand for Directors and Officers (D&O) insurance is on the rise as corporate India seeks to barricade its brass from the increasing number of corporate frauds and bankruptcy-related concerns. Read more 

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