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Wipro to buy BPaaS provider Viteos Group for $130 million

Indian multinational IT Consulting Company, Wipro, has announced that it has signed a definitive agreement to acquire Viteos Group, a BPaaS provider for the Alternative Investment Management Industry for $130 million.


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RCom, Aircel Discuss India Wireless Business Merger

Reliance Communications (RCom) is in talks with the promoters of Aircel about the possibility of merging the India wireless business. The potential combination will exclude RCom's towers and optical fibre infrastructure...


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Brick-and-mortar retailers attack Amazon over its Rs 200 gift offer for Indian

Earlier this month, Amazon founder and CEO Jeff Bezos sent offers of Rs 200 gift cards to millions of Indian customers as part of a marketing ploy that did not go down well with the country's brick-and-mortar...


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Accel Sells $100M Stake in Flipkart

Venture capital firm Accel Partners has retailed a small stake in Indian e-commerce firm Flipkart to sovereign wealth fund Qatar Investment Authority (QIA) for $100 million, said a report in the Economic Times citing two...


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AI flight reverts over windshield crack

Around 150 passengers in a Lucknow-bound Air India flight from New Delhi thanked God for their narrow escape after the windshield of the cockpit developed a crack mid-air on Sunday.


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US Feds first rate hike in 9 years after crisis may benefit India

In a widely anticipated move, Federal Reserve Chair Janet Yellen raised US interest rates on Wednesday. On Wednesday, during a press conference after the Fed decision was announced Yellen promised markets that the...


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SC stays class suit action against Nestle

The Supreme Court on Thursday stayed proceedings against Nestle India, maker of the Maggi brand of instant noodles, in the National Consumer Disputes Redressal Commission (NCDRC).


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Air India Technician Gets Sucked Into Aircraft Engine, Dies

An Air India service engineer was killed after he got sucked into the live engine of an A-319 aircraft at Mumbai airport on Wednesday evening. The body of the engineer, identified as Ravi Subramanium was yet to be recovered...


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Government makes PAN mandatory for Rs 50000 hotel bills in cash, foreign travels

In an effort to check generation of domestic black money, the government has tightened disclosure norms and made furnishing PAN number compulsory from 1 January for cash payment made to settle hotels bills or for buying...


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Dr Reddy's issues clarification to USFDA's warning letter for its 2 units

Dr Reddy's Laboratories (DRL) submits a response to the US health regulator on a warning letter it had received last month. In November, Dr Reddy's had received a warning letter from the USFDA relating to two of its API...


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Vodafone enters 4G fray after Airtel; Reliance lags behind

India's second-largest mobile operator, Vodafone introduced its high-speed 4G service in Kochi in Kerala on Tuesday, making it the country's second 4G service provider after market leader Bharti Airtel, which had rolled...


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Japan set to win India's bullet train deal, offers loan at just 0.5% for 50

Japan is likely to win the right to construct India's first bullet train, after failing to bag an Indonesian high-speed rail deal, the Nikkei business daily reported on Tuesday.


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Kaher Kazem to head India unit from Jan. 1: GM

General Motors Co (GM.N) on Monday stated that Kaher Kazem will become head of its India unit from Jan. 1 after the current chief; Arvind Saxena retires as general manager at year-end.


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Vodafone invests Rs 500 crore in Apr-Nov to improve services in New Delhi, NCR

Vodafone India has financed nearly Rs 500 crore this fiscal to upgrade the quality of its services in New Delhi and in the National Capital Region.


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Amazon rules Cyber Monday with 36% of all online sales

Online retail giant Amazon continued to dominate sales on Cyber Monday 2015 generating an estimated 36.1% of all online sales on Monday, according to Slice Intelligence.


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Cyber Monday breaks sales record again, but for how long?

The online shopping event this holiday season reached $3 billion in sales, up by 12 percent from last year, software giant Adobe stated late Monday, making it the largest online sales day in the US ever.


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RBI keeps key rates unchanged, urges better supply management of food items

RBI governor Raghuram Rajan on Tuesday kept the key policy rate unaffected but asserted the central bank's commitment to ease it.


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Vodafone moves Delhi HC challenging TRAI's telecommunication interconnect

Telecom major Vodafone Mobile Service Ltd and its group companies today approached the Delhi High Court challenging TRAI's Telecommunication Interconnect Usage Charges Regulations, 2015 by which it has fixed termination charges...


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SpiceJet stake sale back on table; Gulf airlines reportedly interested

Indian budget airline SpiceJet Ltd, which has surged more than 280 percent in 2015, said it's received interest from Gulf airlines looking to acquire a stake.


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HSBC shuts private banking business in India

Hong Kong and Shanghai Banking Corp. Ltd (HSBC) on Friday said it will shut its private banking business in India through which it provides asset-management services to customers with a net worth of over $1 million (Rs 6.7 crore).


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Aamir Khan 'intolerance' row: Flipkart backs rival Snapdeal

As Snapdeal was condemned on social media over comments by its brand ambassador Aamir Khan about growing intolerance in the country, Flipkart came out in support of its online rival. Snapdeal dissociated itself...


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Idea Cellular to buy Videocon spectrum in Gujarat, UP for Rs 3,310 cr

Idea Cellular Ltd, India's third-biggest mobile phone operator, has decided to buy radio airwaves in two services areas from smaller competitor Videocon Telecommunications for Rs 3,310 crore to strengthen its high...


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SC to Vodafone: Pay Rs 2,000 crore ahead of merger approval

The Supreme Court on Monday asked Vodafone Mobile Services Ltd (VMSL) to pay Rs. 2,000 crore to the union government in pursuance of a proposed merger of four entities into itself. Vodafone India wants to merge...


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SBI declares Vijay Mallya, Kingfisher Airlines, UBL wilful defaulters

After a stretched legal battle, State Bank of India (SBI) has declared industrialist Vijay Mallya a 'wilful defaulter' for defaults on nearly Rs 7,000 crore loans to the Kingfisher Airlines. After the Bombay High...


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8 Anil Ambani group cos get conditional approval for defence units

The Department of Industrial Policy and Promotion (DIPP) has conditionally approved 11 industrial licenses for 8 subsidiaries of Reliance Defence. As many as 32 proposals were cleared by a high-powered panel...


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7th Pay Commission proposes drastic changes, favors merit over seniority for

The 7th Pay Commission headed by Justice AK Mathur on Thursday submitted its report to Finance Minister Arun Jaitley, suggesting 23.55 percent hike in pay and allowances of central government employees.


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Pfizer-Allergan Rs 9.91 lakh crore deal talks advance

American pharmaceutical company Pfizer is nearing a deal to buy Allergan, a rival drug maker that has its headquarters in Ireland, for as much as $150 billion (Rs 9.91 lakh crore), potentially helping the company move its corporate citizenship overseas and reduce its tax bill.


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Jet Airways, IndiGo and SpiceJet to challenge CCI order

Indian carriers SpiceJet, Jet Airways and IndiGo today said they would pursue legal steps against Competition Commission of India (CCI) order imposing penalties totaling Rs 258 crore on them for anti-competitive practices related to air cargo.


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Ola Raises $500 Million From SoftBank, Didi Kuaidi, and More

The online taxi aggregator Ola has raised $500 million (roughly Rs. 3,299 crores) from Baillie Gifford, Tiger Global, SoftBank Group and others to intensify capacity building and drive new use cases as it raised the stakes to compete with rivals like US-based Uber and homegrown Meru.


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Sensex drops over 250 points, Nifty below 7,750 on weak IIP data

The S&P BSE Sensex slid over 250 points in morning trade on Friday following muted trends seen in other Asian markets as commodity slump drew the markets lower.


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