The crackdown on Ola is likely to impact Ola's business in its home city and its largest market, Bengaluru, but also impact thousands of drivers on the platform (Mint)
The crackdown on Ola is likely to impact Ola's business in its home city and its largest market, Bengaluru, but also impact thousands of drivers on the platform (Mint)

Karnataka transport department suspends Ola’s licence for six months  

  • Ola's license was suspended for operating two wheeler taxis in violation of existing provisions of the act
  • Both Ola and Uber had run into trouble with the transport department when it began offering two wheeler taxi services in 2016

Finance minister Arun Jaitley (PTI)
A file photo of Piramal Group's executive director Anand Piramal.
A file photo of Piramal Group's executive director Anand Piramal.

Property distress in India has Piramal prowling for acquisitions

  • Piramal Realty's sales have quadrupled this year to 30 billion, fueled by new projects in the south of Mumbai
  • Anand Piramal says more land will become available in the next six to nine months as some distressed developers are forced into bankruptcy

SpiceJet said last week it operated with 94% capacity utilisation in February (Reuters)
Economic affairs secretary Subhash Chandra Garg (Bloomberg)
Economic affairs secretary Subhash Chandra Garg (Bloomberg)

Economic affairs secretary SC Garg defends data revisions amid controversy

  • Revisions to economic statistics are a fact and the revisions themselves are based on facts, says Subhash Chandra Garg
  • 108 economists last week accused the Centre of deliberately revising or withholding statistics that show the government in poor light

US President Donald Trump (AP)
Indian markets closed largely unchanged on Wednesday and were closed on Thursday
Indian markets closed largely unchanged on Wednesday and were closed on Thursday

Sensex falls over 200 points; RIL, banking shares drag

  • Bank Nifty today hit 30,000 but later erased early gains
  • Reliance Industries shares fell over 2%

(Image for representation purposes only) (Photo: Bloomberg)
 (Photo: Reuters)
 (Photo: Reuters)
(Photo: Reuters)

RIL denies sidestepping US sanctions on Venezuela

  • RIL's denial comes after a report said that the company has sidestepped US sanctions on Venezuela by selling fuel from India and Europe to Venezuela
  • RIL has been in continuous communication with the US Department of State regarding its activities in Venezuela

 (Photo: Reuters)
In its annual report, Nokia said certain practices at the former Alcatel-Lucent business had raised its concerns during the integration process and it had informed relevant regulatory authorities, without elaborating. (Reuters)
In its annual report, Nokia said certain practices at the former Alcatel-Lucent business had raised its concerns during the integration process and it had informed relevant regulatory authorities, without elaborating. (Reuters)

Nokia plays down compliance issues after shares drop

  • Nokia sought to play down the risks of an investigation into compliance issues at its Alcatel-Lucent business after its shares fell sharply
  • Nokia flagged the issue in its annual report which was released late on Thursday to the US Securities and Exchange Commission

PM Narendra Modi.  (Photo: Mint)
 (Photo: Pradeep Gaur/Mint)
(Photo: Pradeep Gaur/Mint)

Sterling Biotech case: Hitesh Patel held in Albania

  • Patel, wanted by the ED, was detained by law enforcement officials of Albania in the capital city of Tirana on Wednesday
  • Patel is an accused in a 5,000 crore money laundering case -- as part of the 8,100 crore bank loan fraud allegedly perpetrated by the Sterling Biotech Group

The detailed rationale for deviation from the price post haircuts or the price provided by the valuation agencies should be recorded by the AMC
The detailed rationale for deviation from the price post haircuts or the price provided by the valuation agencies should be recorded by the AMC

Sebi issues valuation of debt securities rated below investment grade

  • Sebi said all money market and debt securities which are rated below investment grade shall be valued at the price provided by valuation agencies
  • Till the agencies compute the valuations, such securities would be valued on the basis of indicative haircuts provided by the agencies

A file photo of Election Commission building in Delhi (Photo: Mint)
A file photo of Election Commission building in Delhi (Photo: Mint)

Statistical Institute submits report on paper trail count to Election Commission

  • Refusing to divulge much, sources in the poll panel claimed the ISI was of the view that "5%" match would be sufficient to enhance voters' faith in the EVM
  • There have been demands by parties to increase the number of polling stations where VVPAT slips are matched with EVM results

C S Shivalli.
President of India Ram Nath Kovind. (Photo: AP)
President of India Ram Nath Kovind. (Photo: AP)

President Ram Nath Kovind to visit Croatia, Bolivia and Chile next week

  • Kovind will first visit Croatia from March 25-28 in what would be the first visit by an Indian president to the European country
  • Kovind will head to Bolivia on March 28 for a three-day visit, the first high-level visit to the country since the establishment of diplomatic ties

A Reserve Bank of India (RBI) logo. (Photo: Reuters)
A Reserve Bank of India (RBI) logo. (Photo: Reuters)

RBI again defers Indian Accounting Standards implementation by banks

  • RBI had postponed the implementation of the Indian Accounting Standards (Ind AS) by the banks by one year
  • The RBI in February 2016 had proposed implementation of new accounting standards for banks for both standalone financial statements and consolidated financial statements

Garuda Indonesia has sent a letter to Boeing last week requesting to cancel the order worth $4.9 billion (Photo: Bloomberg)
Garuda Indonesia has sent a letter to Boeing last week requesting to cancel the order worth $4.9 billion (Photo: Bloomberg)

Garuda Indonesia seeks to cancel order for 49 Boeing Max 8s

  • It is the first announcement of a cancellation since Boeing's new model aircraft were grounded following fatal crashes
  • Garuda joined other airlines worldwide in grounding its one Max 8 jet after the crash of an Ethiopian Airlines flight this month

 (Photo: PTI)
BJP Karnataka President BS Yeddyurappa addresses a press conference ahead of Lok Sabha Elections 2019. (Photo: PTI)
BJP Karnataka President BS Yeddyurappa addresses a press conference ahead of Lok Sabha Elections 2019. (Photo: PTI)

Congress seeks probe into Yeddyurappa’s alleged payouts to top BJP leaders

  • Yeddyurappa was reacting to statements made by the Congress based on an article published on Friday by the Caravan magazine
  • The allegations against Yeddyurappa come weeks before the country heads to polls in which Prime Minister Narendra Modi is seeking another term

 (Photo: istockphoto)
(Photo: istockphoto)

NSEIT acquires cybersecurity company Aujas

  • Founded in 2008, Aujas has operations in India, the Middle East and North America
  • NSEIT currently provides technology solutions across industries such as capital markets, financial markets, banking and insurance

The company has declared an interim dividend of  ₹5.83 per equity share of  ₹10 each for 2018-19 (Photo: Photo: Pradeep Gaur / Mint)
The company has declared an interim dividend of 5.83 per equity share of 10 each for 2018-19 (Photo: Photo: Pradeep Gaur / Mint)

Power Grid Corporation pays 1,600 crore interim dividend to govt for 2018-19

  • The total interim dividend disbursed was 3,050.02 crore for 2018-19 to about 5.91 lakh shareholders of the company
  • Power Grid Corporation handed over electronic payment remittance advice for payment of 1,629.62 crore for 2018-19 to the Government of India

Cash-strapped airline Jet Airways advanced 3.60 % to settle at  ₹225.85. It had touched an intra-day high of  ₹230 (Photo: Ramesh Pathania/Mint)
Cash-strapped airline Jet Airways advanced 3.60 % to settle at 225.85. It had touched an intra-day high of 230 (Photo: Ramesh Pathania/Mint)

Aviation stocks up 7% even as DGCA report shows slow passenger growth

  • Stock of SpiceJet zoomed 7.04 % to 98.10. Intra-day, it rose 14.23 % to touch a high of 104.70.
  • InterGlobe Aviation closed the counter with 0.28 % gains at 1,426.85. During the day, it was trading at 1,459.30, up 2.56 %

The strategy is offering lenders extra returns of about 100 basis points. Photo: Mint
The strategy is offering lenders extra returns of about 100 basis points. Photo: Mint

Biggest India bond holders ditch government paper for state debt

  • Banks are buying state bonds and moving them to the so-called held-to-maturity group
  • India’s $807 billion sovereign-debt market is battling poor demand and increased volatility ahead of Lok Sabha polls

Gautam Gambhir being welcomed into the BJP. (Ramesh Pathania/Mint)
Photo: Mint
Mayawati has ruled herself out keeping the interest of the nation in mind (AFP)
Users from Brazil, Argentina, and France also confirmed the availability of WhatsApp Business for iOS devices in their countries.
Users from Brazil, Argentina, and France also confirmed the availability of WhatsApp Business for iOS devices in their countries.

WhatsApp Business now available on iOS: well, almost

  • The company has not officially announced the rolling out of its Business app, but some users from Mexico, Brazil and Argentina confirmed the availability
  • WhatsApp Business was announced back in September 2017 and launched for Android in January 2018

 (Reuters)
Punjab National Bank maintains the $2 billion PNB fraud, perpetrated by Nirav Modi at the bank's Brady House branch in Mumbai, was not the result of a systemic problem. (Abhijit Bhatlekar/ Mint)
Punjab National Bank maintains the $2 billion PNB fraud, perpetrated by Nirav Modi at the bank's Brady House branch in Mumbai, was not the result of a systemic problem. (Abhijit Bhatlekar/ Mint)

How PNB fraud exposed chinks in India's banking industry

  • Nirav Modi's arrest seen as a milestone in India's efforts to deal with those attempting to dupe the banking industry
  • An increasing number of bank frauds has led to bankers becoming very cautious in making lending decisions

The board of the IT company had met on Wednesday too, but no decision was taken on the agenda item at hand. (Mint)
The board of the IT company had met on Wednesday too, but no decision was taken on the agenda item at hand. (Mint)

Mindtree board to meet again on 26 March

  • L&T has entered into a deal to buy Cafe Coffee Day owner V G Siddhartha's 20.32 % stake in Mindtree
  • Mindtree CEO and promoter Rostow Ravanan said the company's board would deliberate on the buyback or the open offer within the framework of the law

Facebook logo.  (AFP )
SBI chairman Rajnish Kumar. (PTI)
Elections 2019
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Nifty jumped 0.50% to 11,566. (Reuters)
A file photo of Reserve Bank of India (RBI) Governor Shaktikanta Das. (AFP)
A likely leadership churn at Mindtree is seen as a key risk to L&T’s hostile takeover bid.
A likely leadership churn at Mindtree is seen as a key risk to L&T’s hostile takeover bid.

A culture shock awaits Mindtree employees under L&T

  • Mindtree has an informal work culture: many of its employees call members of the founding team by their first names
  • In contrast, Larsen and Toubro's (L&T) work culture is based on command-and-control and top-down management

 Nirav Modi.
Nirav Modi.

Not a very Happy Holi for Nirav Modi in UK jail

  • Nirav Modi, one of India's richest men accustomed to the high-life and celebrity circles around the world, will be faced with some harsh conditions at the prison
  • The living conditions will certainly be in stark contrast to the luxury apartment at Centre Point in the West End of London where Modi has been living over the past year

At present, Pierer Industrie AG holds approximately 62% of the shares of KTM Industries AG.  (Mint)
At present, Pierer Industrie AG holds approximately 62% of the shares of KTM Industries AG.  (Mint)

Pierer Industrie in talks with Bajaj Auto for 48% stake in KTM

  • Bajaj Auto and Pierer Industrie AG have started discussions to assess the possibility of transferring Bajaj's 48% stake in KTM AG to KTM Industries AG
  • The transaction decision is targeted to be made in the second quarter of 2019

Kesari is the third Hindi war film this year after Uri and Manikarnika
 (Bloomberg)
The Netflix logo. (Reuters)
The Indian market is crucial for Venezuela's economy because it has historically been the second-largest cash-paying customer for the OPEC country's crude, behind the United States. (AFP)
The Indian market is crucial for Venezuela's economy because it has historically been the second-largest cash-paying customer for the OPEC country's crude, behind the United States. (AFP)

Reliance selling fuels from India to Venezuela to avoid US sanctions

  • At least three vessels chartered by Reliance supplied refined products to Venezuela in recent weeks
  • In a statement last week, Reliance said its US unit has completely stopped all business with PDVSA

The new management of Religare Enterprises has carved out a well-defined business strategy, which will help capitalize the existing ecosystem under a new brand. (Pradeep Gaur/Mint)
The new management of Religare Enterprises has carved out a well-defined business strategy, which will help capitalize the existing ecosystem under a new brand. (Pradeep Gaur/Mint)

Religare Enterprises rebranding Finvest after Singh brothers exit

  • Religare Enterprises is looking to spruce up Religare Finvest under a new brand and investment of 600 crore to 're-orient' the business
  • Religare Enterprises is in advanced talks with two marque domestic equity investors for growth capital for Religare Finvest

Facebook. (AP)
Facebook. (AP)

Facebook admits storing passwords in plain text

  • The blunder was uncovered during a routine security review early this year, according to Canahuati
  • The exact number had yet to be determined, but archives with unencrypted user passwords were found dating back to the year 2012

The logo of IndiGo Airlines. (Reuters )
The logo of IndiGo Airlines. (Reuters )

IndiGo continues to recruit expat and 'out-of-job' pilots

  • Shortage of trained and experienced pilots has been an issue for domestic airlines amid capacity expansion
  • IndiGo is facing acute shortage of commanders amid aggressive expansion of its fleet. The carrier has more than 210 planes in its fleet

Facebook CEO Mark Zuckerberg. Facebook has made over 50 acquisitions, the biggest among of them being Instagram and WhatsApp. (AP)
Facebook CEO Mark Zuckerberg. Facebook has made over 50 acquisitions, the biggest among of them being Instagram and WhatsApp. (AP)

Facebook eyeing investments in content startups in India

  • Facebook is in early-stage talks with several content startups, including PoPXo for potential investments
  • Any startup funding would also be a departure from Facebook’s usual strategy of buying companies outright

Stone will report to Chief Executive Jim Hackett (AP)
Stone will report to Chief Executive Jim Hackett (AP)

Ford names Amazon veteran Tim Stone as CFO

  • Tim Stone, 52, replaces Bob Shanks, who will retire at the end of 2019 after serving the company for 42 years
  • Tim Stone will take over as CFO on 1 June

Union Minister and BJP leader JP Nadda shows the first list of candidates for the upcoming Lok Sabha elections, at party office in New Delhi.  (PTI)
Interest due for the period between 1 March to 17 March, 2019 and was not paid. (Mint)
Tata Steel.  (Reuters )
PNB fraud accused Nirav Modi. (HT)
The Maruti Suzuki Vitara Brezza. Suzuki and Toyota are expanding their alliance to the global level—from India to Africa and also Europe. (Ramesh Pathania/Mint)
The Maruti Suzuki Vitara Brezza. Suzuki and Toyota are expanding their alliance to the global level—from India to Africa and also Europe. (Ramesh Pathania/Mint)

Maruti Suzuki Vitara Brezza to be made at a Toyota India plant from 2022

  • Toyota and Suzuki will also jointly develop a Toyota minivan that will be supplied to Suzuki in India
  • Toyota and Suzuki seek to popularize hybrid-electric vehicles in India by sourcing of systems, engines and batteries locally

Jet pilots along with engineers and senior management have not been paid for more than three months. (Abhijit Bhatlekar/Mint)
Naresh Goyal-led Jet Airways is facing the worst financial crisis of its 25-year existence with more than one billion dollars of debt. (Photo: Reuters)
Naresh Goyal-led Jet Airways is facing the worst financial crisis of its 25-year existence with more than one billion dollars of debt. (Photo: Reuters)

Jet Airways' pilots write to PM on non-payment of salaries

  • While the airline is going through a tough financial phase, all employees except for pilots and engineers are getting paid on time: National Aviators Guild
  • Two days ago, the Jet Airways' pilots had threatened to stop flying from 1 April if their pending salaries are not cleared by 31 March