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BusinessToday.in
New Delhi, July 10, 2018
China agrees to cut tariffs on Indian cancer drugsChina said on Monday it had reached an agreement with India to reduce tariffs and increase imports of Indian medicines, particularly anti-cancer drugs. The decision was part of its efforts to broaden trade relations amid its on-going spat with the United States. Both India and China slashed import tariffs of a range of products starting July 1, following the fourth round of negotiations under the Asia Pacific Trade Agreement (APTA), which also includes Bangladesh, Laos, South Korea and Sri Lanka.Income Tax dept sells Cairn Energy shares in Vedanta for $216 millionCairn Energy said it would write down the value of its investment in Vedanta Ltd after Indian tax authorities sold $216 million worth of its shares in the Indian mining company to recover a part of Rs 10,247-crore demanded as retrospective tax. The UK company said it still holds about 3 per cent in Vedanta Ltd after the sale, while warning that it was possible that the Indian tax department might make further sales.Department of Telecom conditionally approves Idea-Vodafone merger dealThe Department of Telecom (DoT) gave its nod to the Vodafone India-Idea Cellular deal to form the biggest telecom entity in India, but with some riders. An official told PTI that DoT has cleared the Vodafone-Idea merger. They will have to meet conditions for final approval. Earlier, it was reported the DoT was looking to raise a fresh demand of around Rs 4,700 crore ahead of the merger deal between Vodafone India and Idea Cellular over one-time spectrum charges on Vodafone.Mark Zuckerberg overtakes Warren Buffet to emerge world's third-richest man with $81.6 bn net worthFacebook's stock has not only recovered from the hammering it took in the wake of the Cambridge Analytica privacy scandal earlier this year, but spiked 2.4 per cent to hit an all-time high on Friday. And in the bargain, it has propelled its co-founder and CEO Mark Zuckerberg into the Top 3 list of billionaires. He is now the world's third-richest man after Amazon's Jeff Bezos and Microsoft co-founder Bill Gates.Malaysia's IHH Healthcare Berhad outbids TPG-Manipal in the battle for Fortis: ReportIn its second round of bidding, cash-strapped Fortis Healthcare received only two binding bids, from Malaysia's IHH Healthcare Berhad and TPG-backed Manipal Health Enterprises Ltd. And the buzz is that the former has an edge over FHL's earliest suitor. According to Mint, IHH is likely to acquire control of India's second-largest private hospital chain with a binding offer for a stake of at least 51 per cent for Rs 4,700-5,400 crore.Yahoo Japan buys back $2 billion of shares in three-way deal with SoftBank, AltabaYahoo Japan Corp is buying back around $2 billion worth of its shares from SoftBank Group Corp as part of a three-way deal with its top shareholders, U.S. investment firm Altaba Inc and SoftBank.The deal will see Altaba, which was formerly the internet giant Yahoo! Inc, sell down its stake in Yahoo Japan by around $2 billion and SoftBank raise its stake slightly in Yahoo Japan to around 48 percent.


BusinessToday.In
July 9, 2018
Paytm said that it has witnessed a tremendous increase in adoption of digital payments in tier II and tier III cities that constitute 50 per cent of its total user base.


BusinessToday.In
June 26, 2018
The stock closed at 1208 level, higher by 32.50 points on the BSE. It rose up to 9.5% in early trade, hitting an intra day high of 1288.35 level on the BSE.


BusinessToday.in
New Delhi, June 26, 2018
GlaxoSmithKline shares rise as Coca Cola enters race to buy its consumer nutrition businessThe GlaxoSmithKline Consumer Healthcare stock rose in early trade amid a report that global soft drinks behemoth Coca Cola was planning to buy the former's consumer nutrition business. Nestle, Danone and HUL among other firms are also eyeing GlaxoSmithKline's consumer nutrition business.The maker of Thums Up, Minute Maid juice and Kinley water has moved its focus to launches in the 'healthier' space including no-sugar variants of Coke, Sprite and Thums UpPolicyBazaar raises $238 mn funding from SoftBankPolicyBazaar, along with PaisaBazaar, has secured $238 million (Rs 1,600 crore) in equity financing led by SoftBank, the world's largest technology investor, as reported by the Economic Times. It has joined the once-elusive Unicorn club. The announcement comes after about six months of negotiations between SoftBank and Gurgaon-based ETechAces Marketing and Consulting, which owns and operates insurance policy aggregator PolicyBazaarVideo makers want YouTube to change subscription toolVideo makers with millions of subscribers on YouTube expressed frustration at a trade show last week that the service notifies only a portion of their followers about new posts, causing declines in viewership and their revenue. The gap between viewership and subscribers, which is akin to followers on Twitter or page likes on Facebook, emerged as the latest rallying point for YouTube creators gathered at Viacom Inc's VidCon, an annual online video industry annual gathering. YouTube, which is part of Alphabet Inc's Google, last year faced backlash from creators whose ad revenue on the service declined because of shifting policies. But the lack of subscriber alerts affects many more creators.India offers huge opportunity for US energy sector: PerryIndia offers an \"amazing opportunity\" for US energy sector as it is a huge market for the American energy products including clean coal technology, Energy Secretary Rick Perry has said. Perry, who visited India in April this year as part of the Trump administration's move to enhance bilateral energy cooperation, said he had \"very good conversations\" with his Indian counterpart on clean coal and carbon capture utilisation. During the first meeting of the US-India Strategic Energy Partnership in April, the two countries decided to increase its co-operation in oil and gas, power, renewable energy and coal sectors.ED moves court for Nirav Modi's extradition from multiple countries, including UK, Hong KongThe Enforcement Directorate has moved a special court in Mumbai seeking extradition of diamond jeweller Nirav Modi in connection with the billion-dollar Punjab National Bank fraud. According to a PTI report, the extradition has been sought by the agency from the UK, Belgium and a few other countries. The request has been made on the basis of a recent charge sheet filed by the ED against Nirav Modi and his family under the Prevention of Money Laundering Act.Bank of Baroda plans to raise Rs 6,000 crorePublic sector lender Bank of Baroda plans to raise up to Rs 6,000 crore through various instruments, including preference issue of shares, rights issue or a follow-on public offer. The board of the bank will seek approval from the shareholders in its annual general meeting to be held on July 13. The allotment of equity share will be in \"such a way that the central government shall at all times hold not less than 52 per cent of the total paid-up equity capital of the bank,\" Bank of Baroda said in its annual report for 2017-18. The bank suffered a net loss of about Rs 2,432 crore in 2017-18, mainly on account of higher provisions for bad loans, coupled with lower investment income.


BusinessToday.In
New Delhi, June 26, 2018
Founded in 2008, PolicyBazaar has raised a total of $366 million through half a dozen funding rounds, excluding the seed funding round, added the spokesperson.


BusinessToday.In
New Delhi, June 22, 2018
The online food delivery market in India totalled $0.3 billion in 2016. A CAGR of 90 per cent is expected to take the segment to $4 billion by 2020.


Goutam Das
New Delhi, June 19, 2018
May 2018 recorded 52 PE investments totalling $4 billion, or about Rs 27,230 crore; in May 2017, 54 investments totalled $2.8 billion.


BusinessToday.in
New Delhi, June 15, 2018
Indian-American Dhivya Suryadevara was named the CFO of General Motors. She became the first woman CFO in the auto industry. Suryadevara is currently vice president, Corporate Finance. Watch BusinessToday.In to know more about Dhivya who began her career at PricewaterhouseCoopers.


Reuters
June 15, 2018
The company is expected to make the investment through a fund backed by Saudi Arabia's government, NHK said. Saudi Arabia is the largest investor in SoftBank's Vision Fund, which raised over $93 billion last year.


BusinessToday.In
New Delhi, June 14, 2018
Dhivya Suryadevara has been serving in the Detroit-based company for 13 years now. With Suryadevara's elevation, General Motors has become the first major auto company to have two women as top executives - the other being its CEO, Mary Barra - at its helm.


Anilesh S. Mahajan
New Delhi, June 11, 2018
Indian solar equipment makers are being squeezed out of the market by global players.


BusinessToday.In
June 6, 2018
Nikesh Arora is hogging the headlines for the fat pay packet worth about $128 million that he has bagged in his new job as CEO Palo Alto Networks Inc, reportedly making him one of the highest-paid US executives.


BusinessToday.In
June 4, 2018
Rajeev Misra is currently at the helm of SoftBank Investment Advisers as CEO, leading its $100 billion SoftBank Vision Fund.


PTI
New Delhi, June 3, 2018
The tax department is currently studying the details received from Flipkart, said an official, adding that they can issue notices seeking details of taxes withheld once the transactions are completed.


Joe C Mathew
New Delhi, June 1, 2018
The Ministry of Commerce has roped in the ED, RBI, CCI and Income Tax department to examine the allegations raised by RSS affiliate Swadeshi Jagran Manch (SJM) against the Walmart-Flipkart deal.


BusinessToday.In
New Delhi, May 31, 2018
The deal is getting heightened scrutiny because of the different types of taxes applicable on it as well as the ambiguity created by last year's changes to applicable bilateral tax treaties.


BusinessToday.In
May 30, 2018
The Bangalore-based etailer aims to launch grocery services in five cities by July, beginning with Hyderabad and followed by Chennai, Mumbai, Delhi-NCR and Pune. This follows the company's soft launch for the groceries category in Bangalore last November under a tab called Supermart.


Dipak Mondal
New Delhi, May 28, 2018
The Walmart-Flipkart deal is a possible nightmare for the tax department given the complex holding structure of the Indian e-commerce giant.


Prosenjit Datta
New Delhi, May 28, 2018
The US-based retail giant Walmart is paying $16 billion to take a 77 per cent stake in Indian online retailer Flipkart.


BusinessToday.In
May 25, 2018
Wednesday was a historic day for Uber Technologies Inc, the ride-hailing giant: At long last it was able to declare a quarterly profit.


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