Airtel sells 25% stake to US-based Carlyle for Rs 1,780 crore : Bulletin: Business Today
Business Today

Airtel sells 25% stake to US-based Carlyle for Rs 1,780 crore

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BusinessToday.In | July 1, 2020

Airtel sells 25% stake in data centre business to US-based Carlyle for Rs 1,780 crore

US-based private equity firm, Carlyle Group announced on Wednesday that it will buy a 25% stake in Bharti Airtel's data centre business, Nxtra Data for $235 million (around Rs 1,780 crore). Airtel will continue to hold the remaining 75% stake in the business. Nxtra will use the proceeds from the stake sale to scale up its infrastructure across the country.

Govt orders internet service providers to block 59 Chinese apps with immediate effect

Government has directed all internet service providers to block 59 Chinese applications, including TikTok, Shareit, CamScanner under the emergency clause of the IT Act. The government has issued web link along with the IP addresses that will make internet service providers easily block access to Chinese apps.

Coronavirus crisis: EU reopens borders to 14 countries; excludes India, US, Russia, Brazil

The European Union announced Tuesday that it will reopen its borders to travellers from 14 countries, but most Americans have been refused entry for at least another two weeks due to soaring coronavirus infections in the US. Travelers from other big countries like Russia, Brazil and India will also miss out. As Europe's economies reel from the impact of the coronavirus, southern EU countries like Greece, Italy and Spain are desperate to entice back sun-loving visitors and breathe life into their damaged tourism industries.

GST collection jumps 46% to Rs 90,917 crore in June compared to May; declines 9% YoY

IndiGo, Vistara, other airlines announce fresh salary cuts, leave without pay

India's aviation industry continues to brave the impact of coronavirus pandemic despite restoration of its operations. Several domestic airlines, including IndiGo, Vistara have opted for fresh salary cuts for July in order to trim cost due to low demand and battered profits.

India reports first quarterly current account surplus in 13 years

India's current account turned positive in the last quarter of the 2019/20 fiscal year as a result of a lower trade deficit and a sharp rise in net invisible receipts, the Reserve Bank of India said on Tuesday, the first quarterly surplus in 13 years. The current account recorded a surplus of $600 million or 0.1% of Indian gross domestic product in the three months to March 2020 compared to a deficit of 0.7% in the same period a year ago, RBI data showed.

Amazon Pantry available in over 300 cities in India; to deliver to over 10,000 pin codes

Amazon Pantry, the marketplace for shopping everyday essentials and groceries is now available in over 300 cities across the country. In May last year, Amazon has expanded its Pantry service to 110 cities. Offering the convenience of ordering groceries online, Amazon also claims offers saving of up to 35 per cent on monthly groceries of tables and branded FMCG products.

Coronavirus fallout: India's factory activity plummets for third month straight in June

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