Oil Search and Santos to close a buyout deal worth A$8.4 billion

Oil Search and Santos to close a buyout deal worth A$8.4 billion

Published: 16 hours agoAuthor: Pankaj Singh

Oil Search Ltd. has reportedly revealed its intention to recommend an updated buyout offer worth A$8.4 billion (USD 6.2 billion) from Santos Ltd. This deal will result in the creation of a top-20 global oil and gas company. The merged entity would....

Delhivery inks USD 200 million deal to acquire Spoton Logistics

Delhivery inks USD 200 million deal to acquire Spoton Logistics

Date: 2021-08-02Author: Pankaj Singh

Delhivery, an IPO bound contemporary domestic logistics and supply chain company, has reportedly signed an acquisition agreement with rivals Spoton Logistics, through a USD 200 million deal. The deal is backed by major investors like Tiger Global Man....

Ashok Leyland plans USD 200 million investment in electric vehicles

Ashok Leyland plans USD 200 million investment in electric vehicles

Date: 2021-07-30Author: Pankaj Singh

Ashok Leyland, the flagship firm of the Hinduja Group, has reportedly planned to invest around USD 200 million in electric vehicle ventures through Switch Mobility Ltd., the company’s UK-based arm, over the next few years. Switch Mobility wi....

Vir Biotechnology and GSK sign joint procurement agreement with the EU

Vir Biotechnology and GSK sign joint procurement agreement with the EU

Date: 2021-07-29Author: Pankaj Singh

Vir Biotechnology Inc. and GlaxoSmithKline plc. have reportedly announced a Joint Procurement agreement with the European Commission to provide around 220,000 doses of sotrovimab. The investigational single-dose monoclonal antibody against the SARS-C....

Grofers forays into instant deliveries following $120Mn Zomato funding

Grofers forays into instant deliveries following $120Mn Zomato funding

Date: 2021-07-28Author: Pankaj Singh

Grofers, the online grocery delivery company, has reportedly delivered to around 7,000 households in under 15 minutes on July 26, according to Chief Executive Officer and Co-Founder Albinder Dhindsa. This development comes along the heels of the comp....

BDR Pharma signs agreement with DRDO to produce COVID-19 drug 2-DG

BDR Pharma signs agreement with DRDO to produce COVID-19 drug 2-DG

Date: 2021-07-27Author: Pankaj Singh

BDR Pharma has reportedly signed a licensing agreement with the DRDO (Defence Research and Development Organisation) to produce, distribute, and promote COVID-19 drug 2-DG (2-Deoxy-D-Glucose) in India. The Mumbai-based company has inked an agreeme....

IFC loans $250 million to HDFC to promote green housing in India

IFC loans $250 million to HDFC to promote green housing in India

Date: 2021-07-26Author: Pankaj Singh

HDFC Limited, an Indian financial services company, has reportedly received a loan worth $250 million from IFC (International Finance Corporation), a member of the World Bank Group. This loan has been provided with an aim to help the finance company ....

BIAL inks partnership with IBM to furnish ‘Airport in a Box’ platform

BIAL inks partnership with IBM to furnish ‘Airport in a Box’ platform

Date: 2021-07-23Author: Pankaj Singh

IBM Hybrid Cloud capabilities, Kyndryl, and Red Hat Automation services would potentially help BIAL improve the airport productivity One of the leading technology companies, IBM has made it to the news headlines yet again, for entering into a 10-y....

Swiggy’s funding appetite increases the overall valuation to $5.5 billion

Swiggy’s funding appetite increases the overall valuation to $5.5 billion

Date: 2021-07-22Author: Pankaj Singh

With more on the plate now, one of the leading food delivery firms, Swiggy, has recently announced concluding its $1.25 billion funding round headed by SoftBank Vision Fund 2 and Prosus Swiggy has recently declared closing down its recent $1.25 bi....

AMC to take over leases of two of LA’s most lucrative theatres

AMC to take over leases of two of LA’s most lucrative theatres

Date: 2021-07-21Author: Pankaj Singh

World’s largest cinema chain, AMC Entertainment, has reportedly added two more locations to its portfolio. The company has apparently revealed that it would be signing a deal to lease The Grove shopping complex’s 14-screen cinema in th....

Samsung introduces a 1,000-inch MicroLED display for commercial use

Samsung introduces a 1,000-inch MicroLED display for commercial use

Date: 2021-07-20Author: Pankaj Singh

Samsung Electronics Co. Ltd. has reportedly launched a new version of The Wall, a giant MicroLED display, which is approximately 1,000 inches in size. The new display will probably be used for commercial and business applications, as showcased by the....

Rossari Biotech to announce the acquisition of Tristar Intermediates

Rossari Biotech to announce the acquisition of Tristar Intermediates

Date: 2021-07-19Author: Pankaj Singh

Specialty chemicals manufacturer, Rossari Biotech Ltd., has reportedly declared the acquisition of Tristar Intermediates for a stipulated value of Rs. 120 crore. This acquisition was approved by the company’s board and will help Rossari to w....

Reliance plans to acquire JustDial to reinforce local commerce

Reliance plans to acquire JustDial to reinforce local commerce

Date: 2021-07-16Author: Pankaj Singh

Reliance Industries has reportedly planned to take control of JustDial, a local platform for business listings. The agreement could be secured at a price of around USD 800 million to USD 900 million. Currently, JustDial is valued at around Rs. 6,9....

Reserve Bank of India bans Mastercard from adding new customers

Reserve Bank of India bans Mastercard from adding new customers

Date: 2021-07-15Author: Pankaj Singh

Mastercard has reportedly been barred indefinitely by the Reserve Bank of India (RBI) from issuing new credit, debit, or prepaid cards to customers. This ban has been raised owing to Mastercard’s non-compliance with local data storage rules. ....

Carmaker Maruti Suzuki to raise price for Swift and all CNG models

Carmaker Maruti Suzuki to raise price for Swift and all CNG models

Date: 2021-07-14Author: Pankaj Singh

Maruti Suzuki India Ltd. has reportedly announced that it has hiked prices of Swift and all CNG variants owing to increasing input costs. The price hike, which is set to be about INR 15,000 for these models, was put into effect from July 12. The c....

Indian e-commerce giant Flipkart raises funding of USD 3.6 billion

Indian e-commerce giant Flipkart raises funding of USD 3.6 billion

Date: 2021-07-13Author: Pankaj Singh

Flipkart, the Indian e-commerce company, reportedly raised fresh funds of USD 3.6 billion from global investors. This includes private equity, sovereign funds, and financial assistance from Walmart, Flipkart’s parent company. GIC, a Singapor....

Online travelling platform EaseMyTrip eyes 100% growth in 2021

Online travelling platform EaseMyTrip eyes 100% growth in 2021

Date: 2021-07-12Author: Pankaj Singh

EaseMyTrip, an online travel solutions provider, is reportedly aiming for 100 percent growth in 2021. This comes along the heels of a gradual demand recovery for tourism in India. The Chief Executive Officer and Co-Founder of EaseMyTrip, Nishant P....

NHS Hospitals forced to cease operations due to impending third wave

NHS Hospitals forced to cease operations due to impending third wave

Date: 2021-07-09Author: Pankaj Singh

Hospitals in the U.K. are reportedly being forced to cancel operations, like cancer surgeries, with a surging number of COVID-19 patients and loss of hospital staff due to self-isolation. Leeds Teaching Hospitals, one of the biggest NHS trusts in ....

Visa confirms consumer spending worth $1 bn via crypto-linked cards

Visa confirms consumer spending worth $1 bn via crypto-linked cards

Date: 2021-07-08Author: Pankaj Singh

Financial services company Visa has reportedly affirmed that consumers have spent around USD 1 billion worth of cryptocurrency on goods and services across the globe, using their crypto-linked cards in the first half of 2021. However, the company has....

Sumitomo Mitsui plans to acquire Fullerton India Credit Company

Sumitomo Mitsui plans to acquire Fullerton India Credit Company

Date: 2021-07-07Author: Pankaj Singh

Japan-based Sumitomo Mitsui Financial Group (SMFG) has reportedly announced plans to acquire the NBFC arm of Fullerton Financial Holdings (FFH), Fullerton India Credit Company (FICC). Sumitomo Mitsui is set to obtain a 74.9% stake in the NBFC arm,....

Paytm partners with Aditya Birla Finance to launch Postpaid Mini

Paytm partners with Aditya Birla Finance to launch Postpaid Mini

Date: 2021-07-06Author: Pankaj Singh

Fintech company Paytm has reportedly collaborated with Aditya Birla Finance Ltd. to launch Postpaid Mini. This will be an extension of its ‘Buy Now Pay Later’ service to make the credit system affordable for new users. The company supp....