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Biz EOD: Tata to raise stake in AirAsia; COAI condemns attacks on Jio's towers; India slips in internet freedom

Catch top stories from the world of business and economy with BusinessToday.In's Biz EOD report

twitter-logoBusinessToday.In | December 30, 2020 | Updated 00:41 IST
Biz EOD: Tata to raise stake in AirAsia; COAI condemns attacks on Jio's towers; India slips in internet freedom
Top stories from the world of business and economy

COAI condemned the attack on Reliance Jio's tower infrastructure in Punjab by farmers protesting against the recently passed farm laws. Malaysia's flagship budget carrier AirAsia Berhad will reduce its stake AirAsia India, its joint venture with Tata Group. Internet in India, with an Internet Freedom score of 51, four lower than last year's 55, has been rated as partly free. Read for more top stories from the world of business and economy:

1. India Inc saw 568.5% jump in profit but still fired employees: CMIE

While companies' income declined 6.9 per cent, costs on raw materials and purchase of finished goods -- biggest expense head -- declined by a much bigger margin at 18.9 per cent. In view of Covid curbs, expenses on salaries grew 3.4 per cent but other expenses fell 9 per cent.

2. COAI condemns attack on Reliance Jio's towers amid farmers' protest in Punjab

The COAI in a statement said that it respects people's right to protest on any issue, but sabotaging the telecom network infrastructure and disrupting telecom services as a form of protest by anyone is strongly condemned.

3. Tata Sons to raise stake in AirAsia India to 83.67%

AirAsia India is a joint venture with Tata Sons holding 51 per cent shares in the airline and AirAsia Investment Limited (Malaysia) holding the remaining stake.

4. Future Retail urges Sebi to approve Reliance Retail deal, cites Delhi HC order

Delhi HC recently said Kishore-Biyani-led Future Group's deal to merge listed companies with RIL is "valid". The court, however, rejected Future Retail's plea for an interim injunction restricting Amazon from approaching statutory authorities, SEBI, CII, and other regulators, about arbitral order.

5. India's internet freedom at stake

India with a score of 51, four lower than last year's 55 has been rated as partly free. India's rating fall is the sharpest after Myanmar and Kyrgyzstan which were down five points each.

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