Hyundai-Kia’s $300 Mn investment in Ola faces CCI roadblock

Hyundai and Kia Motors’ $300 million investment plan in ride-hailing juggernaut Ola may not go smoothly as Competition Commission of India(CCI) has reportedly put a question mark on the nature of the deal. According to a report, the antitrust watchdog had asked Ola’s parent, ANI Technologies, to define the company’s competitive landscape. However, the company […]

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IIFL fund leads $130 mn investment in Northern Arc Capital

Non-banking financial company Northern Arc Capital Ltd said on Tuesday that it has secured a fresh investment of Rs 910 crore (around $130 million) from a clutch of institutional investors. IIFL Special Opportunities Fund and Standard Chartered Private Equity (SCPE) — both existing investors — along with Affirma Capital contributed to the round, Northern Arc […]

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Centre to clear Amazon’s $500 mn investment proposal

The Centre has decided to approve US retail giant Amazon’s proposal to invest $500 million in food retail sector in India. The Department of Industrial Policy & Promotion (DIPP) — the nodal body for the retail sector — at a recent meeting decided to give its nod for Amazon’s proposal, a government official told BusinessLine. “A […]

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Bangladesh heist: Philippine central bank imposes $21 mn fine on bank

A security guard stands guard outside a branch of Rizal Commercial Banking Corporation (RCBC) in Paranaque city, Metro Manila, Philippines. The Philippine central bank said the action affirms its “strong commitment to ensure the stability of the country’s financial system” through strong regulation of local banks. Photo: Reuters Manila: The Philippines central bank on Saturday […]

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MobiKwik receives $50 mn funding from strategic buyers

mobile payments community MobiKwik on Tuesday stated it had received $50 million investment from Japan’s payment gateway GMO and semiconductor enterprise Mediatek. The contemporary round of investment can be used for speedy product innovation, ramping up the teamand user growth, MobiKwik said in a announcement right here. examine greater from our unique insurance on “MOBIKWIK” […]

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Omron eyes $50 mn revenue by way of 2020 from tamper detection biz

Sensing and manage technologies firm Omron nowadays stated it objectives garner sales of $50 million (around Rs 330 crore) from its new included tamper detection answer. the solution, conceptualised in association with Tata energy Delhi Distribution Ltd (TPDDL), will assistutilities hit upon and lessen the losses due to energy robbery. “this is international‘s first of […]

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