Top 10 biz headlines: Amazon joins food delivery business, SoftBank crisis

Amazon is now piloting its much-anticipated project of delivering on-demand food to select localities in Bengaluru
Investor sentiment not dampened by Delhi violence, anti-CAA protests: FM

Addressing a press conference, she said the investors she met in her recent visit to Saudi Arabia had expressed willingness to invest more in the country. When asked about the Delhi violence and anti-CAA protests, Sitharaman said: “The sentiment of foreign investors has not been dampened.” Read more

DCC may discuss telcos' AGR issue on Friday; COAI presses for relief

The Digital Communications Commission, the apex decision-making body in the telecom sector, is expected to meet on Friday to deliberate on a relief package for the financially stressed industry. Read more

AGR: Voda Idea seeks hike in mobile data to Rs 35 per GB, calls to 6p a min

Vodafone Idea has demanded fixing minimum tariffs for mobile data at Rs 35 per GB, around 7-8 times of current prices, and for calls at 6 paise per minute along with monthly charges from April 1 to enable it pay statutory dues and make its business sustainable. Read more

Taking the fight to Swiggy & Zomato, Amazon joins food delivery business in Bengaluru

With its already huge investments in a two-hour delivery supply chain for Amazon Now portfolio, the US ecommerce retailer is now piloting its much-anticipated project of delivering on-demand food to select localities in Bengaluru. This comes at a time when Swiggy and Zomato have cut discounts and tightened cost structures, and as ride hailing firm Uber backed out of the food delivery business in India altogether, having sold UberEats India to Zomato last month in return for a 10% stake, keeping a foot in the door nevertheless, reported The Economic Times

ONGC, HPCL buy 34.56% of bankers' stake in Petronet MHB for Rs 371 cr

State-owned Oil and Natural Gas Corp (ONGC) and its subsidiary Hindustan Petroleum Corp Ltd (HPCL) have bought out lenders in Petronet MHB Ltd, the firm that owns a petroleum product pipeline in Mangalore, for about Rs 371 crore. Read more

Temasek Holdings eyes controlling stake in cash-strapped Lakshmi Vilas Bank

According to persons aware of the development, Temasek has approached the corporate affairs and finance ministries for their approval to buy a 51 per cent stake, which will give it controlling rights in LVB. Read more

Tax thorns haunt Walmart-Flipkart deal, foreign shareholders want clarity

A clutch of foreign firms who were shareholders in Sachin Bansal and Binny Bansal-founded Flipkart have moved the Authority of Advance Rulings (AAR) to seek clarity on the taxability of the capital gains arising out of the $16-billion deal struck in May 2018. Read more

Coronavirus outbreak: Govt to fast-track manufacturing of tech goods

The Union Cabinet is soon expected to take up for consideration a scheme that will aim at boosting the manufacturing of smart phones, semi-conductors, and other high-value tech goods. This proposal is likely to replace existing schemes like the Modified Special Incentive Package Scheme (MSIPS), Electronic Manufacturing Clusters (EMC), and Electronics Development Fund (EDF), Business Standard has learnt. Read more

Sumant Kathpalia succeeds Romesh Sobti as IndusInd Bank MD & CEO

Private sector lender IndusInd Bank said on Thursday that it had appointed Sumant Kathpalia (pictured) the next managing director (MD) and chief executive officer (CEO) from March 24, for a three-year term. Read more

No-holds-barred Rajeev Misra vs Nikesh Arora fight rocks SoftBank

SoftBank Group was battered by a new crisis after The Wall Street Journal reported that Rajeev Misra, the head of its $100-billion Vision Fund, orchestrated the exit of its top executives Nikesh Arora and Alok Sama. The Japanese company, already under fire for its expensive bets in WeWork and Uber, said it is reviewing the charges against Misra, a company director and close associate of SoftBank founder and chief executive officer (CEO) Masayoshi Son, reported

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel