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Friday, May 29, 2020
Business

Business

Umar Kamani sells his stake in Pretty Little Thing to his dad for £324million

JUST weeks after furloughing dozens of staff, Pretty Little Thing founder Umar Kamani has sold his stake in the company to his father Mahmud...

COVID-19: EU to borrow $8.5 billion

THE European Commission on Wednesday (27) proposed borrowing €7.7 billion ($8.49 billion) on financial markets to fund extra spending on vaccines, drugs and healthcare...

India’s ITC to acquire Sunrise Foods

INDIAN conglomerate ITC has entered into a Share Purchase Agreement (SPA) to acquire 100 per cent of the equity share capital of West Bengal-based...

Bharti Telecom to raise $1 billion

Bharti Telecom, the promoter firm of Bharti Airtel, plans to raise $1 billion through equity sale to become debt free. The firm plans to dilute 2.75...

Virus-hit Hertz declares bankruptcy in US and Canada

GLOBAL car rental company Hertz became the latest economic casualty of the coronavirus pandemic Friday, filing for bankruptcy in the US and Canada after...

India central bank slashes rates, warns of contraction

India's central bank slashed interest rates on Friday (22) in an effort to contain the economic fallout of the world's largest COVID-19 lockdown and...
Anil Agarwal

Anil Agarwal in talks with banks to raise $2.5 billion

BILLIONAIRE Anil Agarwal is in talks with several banks for loans worth $2.5 billion to help finance the delisting offer of Vedanta. On 12 May, Vedanta...

HSBC Bangladesh launches COVID-19 relief campaign

HSBC in Bangladesh has launched a corporate sustainability campaign, Joy of Giving, in partnership with the Ministry of Civil Aviation and Tourism (MoCAT), government...
Mobile internet usage in India

US fund General Atlantic invests $870 million in India’s Reliance Jio

INDIA’s Reliance Industries has announced that the US fund General Atlantic will invest $870 million in Jio Platforms, a fourth deal that takes investment...

Accenture acquires Indian firm Byte Prophecy to boost AI, digital analytics capabilities

Accenture acquired Ahmedabad-based IT company Byte Prophecy on Monday (18) for an undisclosed amount to meet the growing demand for enterprise-scale artificial intelligence (AI)...