Jet Airways crisis: Lenders keen on non-IBC resolution if bidding fails

Ola in talks with Audi, Mercedes, BMW for subscription-based self-drive service

Homegrown ride-hailing app Ola is in talks with luxury carmakers such as Audi, Mercedes and BMW to launch a subscription-based self-driving service. According to agency reports, Ola is trying to bring a subscription-based model in India, where users can get access to luxury cars for a subscription fee. The company has also earmarked $500 million as investments for the self-drive service. However, Ola, Audi, Mercedes and BMW did not respond to queries sent in by PTI.

At least 5 Indians killed in Sri Lanka blasts: Sushma Swaraj

Three Indians were among 207 people killed in multiple bomb blasts in Sri Lanka, External Affairs Minister Sushma Swaraj said Sunday.The external affairs minister said she spoke to Sri Lankan Foreign Minister Tilak Marapana who confirmed that 207 people were killed and more than 450 were injured in the blasts.  A string of eight devastating blasts, including suicide attacks, struck churches and luxury hotels frequented by foreigners in Sri Lanka on Easter Sunday.

India must complete its reform process in the coming five years, says economist Arvind Panagariya

India must focus on growth of labour-intensive sectors to create decent jobs for the masses as well as give "serious thought" to privatising the public sector banks (PSBs), eminent economist Arvind Panagariya has said, emphasising that the reform process must be completed in the coming five years.

Jet Airways crisis: Lenders keen on non-IBC resolution if bidding fails

As they explore ways to recover debt, lenders of Jet Airways are in favour of a resolution outside the insolvency law framework in case the ongoing bidding process fails to take off, sources said. Recovery on the basis of existing security and tangible assets would be a preferred option, they added.

Over 200 delayed railway projects face cost overrun of Rs 2.21 lakh crore

National transporter Indian Railways account for nearly three-fifths of 344 central sector projects that are facing huge cost overrun due to delay in implementation for various reasons.According to the report, the total original cost of these 205 projects was Rs 1.68 lakh crore up to December 2018. The total anticipated cost of these projects is estimated at Rs 3.89 lakh crore, which indicates overall cost escalation by 131.83 per cent.

Despite TikTok ban, parent Bytedance plans $1 billion investment in India

TikTok's parent company Bytedance has revealed plans to invest $1 billion in India over the next three years. The Chinese IT major will reportedly increase its workforce in India to 1,000 people by the end of this year. Bytedance's plans for India come close on the heels of a court-imposed ban on TikTok over allegations of sharing inappropriate content.