Slowdown grounds business jets as the rich tighten purse strings

NEW DELHI : Indian industrialists looking to tighten their belts amid the economic slowdown are giving up business jets as they cut the flab. Anil Ambani’s Reliance Transport and Travels has leased one of its three business jets, a 13-seater Global 5000, to a global charter company that has stationed the aircraft in Bengaluru. “This is the […]

Business as unusual: Mumbai and new regime

MUMBAI : On the eve of Uddhav Thackeray’s swearing-in as Maharashtra chief minister on 29 November, his son and newly-minted MLA (member of the legislative assembly) of Shiv Sena Aaditya took a chartered flight for a lightning trip to New Delhi. His sole purpose was to invite Sonia Gandhi and Manmohan Singh of the Congress party to the […]

Why Trump Is Bad for Business

Within moments of Donald Trump’s upset victory in the 2016 election, investors began stampeding into the shares of America’s steelmakers. After all, this was a business he had explicitly pledged to rescue. “Your steel industry—we’re bringing it back, bringing it back, folks!” he had promised a wildly cheering crowd in Pittsburgh the previous April. So when trading […]

IL&FS gets creditors’ approval for sale of education business

IL&FS Group, on November 12, said it has received approval from creditors for sale of education business to Career Point Publications (CPPPL). Schoolnet India Ltd (erstwhile IL&FS Education & Technology Service) would be sold to CPPPL. The Committee of Creditors (CoC) represents all the financial creditors to IL&FS Ltd, the holding company of the IL&FS […]

What India needs to do to better ease of doing business score

A perceptible improvement to India’s ranking in the World Bank’s ‘ease of doing business’ (EDB) index is welcome news. It provides scores for a set of 10 distinct areas of business regulation, and it’s significant that India’s position has now moved 14 places to 63rd among 190 economies. We could do much better. It is […]

Writing crop business does not make economic sense right now, says ICICI Lombard CEO

The crop insurance business is not making business sense for the largest private sector general insurer ICICI Lombard General Insurance. In the post results earnings call, Bhargav Dasgupta, MD and CEO, ICICI Lombard General Insurance, said that they have not been able to write any new crop business in H1FY20 due to the prevailing rates. “On the […]

Clash of business models as war for the grocery basket escalates

Online grocery seems like a simple enough business of delivering fruit and vegetables, staples and toiletries to homes, saving customers the hassle of going to a supermarket or kirana store. But as it turns out, it’s complicated to get a customer what he or she needs in time—and that’s why every e-tailer has evolved its […]

With Lakshmi Vilas Bank deal behind us, it is business as usual with more agility: Indiabulls

MUMBAI: A day after the RBI rejected merger proposal with Lakshmi Vilas BankNSE -4.87 %, Indiabulls Housing FinanceNSE 0.50 % on Thursday said the “uncertainty” about the deal is over and that the company has a stronger balance sheet after the massive cleaning up of its stable. On Wednesday, the Reserve Bank had rejected a proposal to merge Indiabulls Housing […]

Marico business update: Takeaways for consumer sentiment stay bleak

Marico’s business update does not paint an optimistic picture for the FMCG sector. In its Q2 FY20 update, the company said consumption demand has weakened progressively during the quarter. Further, liquidity issues remain challenging for partners in the distribution channel. We believe that this sets up a sombre context for the upcoming result season where market […]