Google under U.S. antitrust scanner for Android operating system


The U.S. Federal Trade Commission is investigating whether Google Inc stifled competitors’ access to its Android mobile-operating system, Bloomberg reported. FTC officials have met with representatives of technology companies who said Google gives priority to its own services on the Android platform, while restricting others, Bloomberg reported, citing people familiar… Read more »

India: L&T IDPL seeks govt help to tide over financial downturn

L&T Infrastructure Development Projects Ltd (IDPL), a subsidiary of India’s largest engineering and construction company Larsen and Toubro Ltd (L&T), is seeking help from the central and state governments to prevent further financial deterioration in two of its projects, said chief financial officer (CFO) Karthikeyan T.V. Delays in land acquisition… Read more »

India’s IDFC Bank eyes $2b rural banking portfolio in five years

IDFC Bank, soon to become the 91st scheduled commercial bank in India, will scale up its rural banking portfolio to a size of about $1.5- $2 billion (Rs.10,000-15,000 crore) in five years, Rajiv Lall, executive vice chairman and managing director, said on Thursday. Home loans will be the main focus… Read more »

Uber introduces new safety feature in India that disguises phone numbers

Uber Technologies Inc. on Thursday introduced a new safety feature in India that allows the riders using its app to connect with drivers without identifying each others’ phone numbers. The new feature has been tested with hundreds of drivers across India and will soon be rolled out, the company said…. Read more »

PayU Global names Aakash Moondhra as CFO

Online payment services firm PayU Global has appointed former Snapdeal executive Aakash Moondhra as chief financial officer, the company said on Thursday. PayU, backed by Internet and media group Naspers has operations in 18 countries including Latin America, India, Central Eastern Europe, and Middle East and Africa. Apart from acting… Read more »

India Dealbook: Amigobulls raises seed funding; TravelKhana secures funds from Astarc Ventures, others

The robust Indian startup space continues to draw increased investors’ attention. Stock market news platform Amigobulls has raised seed funding from Sharad Sharma of iSpirit and Vijay Anand of Intuit India to strengthen its existing network, while TravelKhana, an online food delivery service for railway passengers, has raised funds in… Read more »

India hostile takeover case: Tide Water extends olive branch to Standard Grease

Faced with a hostile takeover bid, the management of lubricant maker Tide Water Oil Co. (India) Ltd extended an olive branch to Standard Greases and Specialties Pvt. Ltd, saying the Mumbai-based predator could have a say in its management. Not to be seen as a sign of capitulation, chairman Kallol… Read more »

Vendor scheme may address Amazon tax troubles in Indian state

Amazon India is testing a plan to replicate its warehousing practices around inventory management, quality control, packaging and shipping at the facilities of its third-party sellers. If successful, the programme, called Seller Flex, may help the company build loyalty with sellers and potentially offer the e-commerce giant an option to… Read more »

India: Malaysian investment scarred Ballarpur Industries, and it has done well to exit

At first look, it seems Ballarpur Industries Ltd (Bilt) has emerged unscathed from its troubled investment in Sabah Forest Industries Sdn Bhd Malaysia. According to Mint’s calculations, it ended up losing about $110 million on its Sabah investments, although a sharp depreciation in the rupee since the time of its… Read more »

Standard Chartered PE ups stake in India’s Prime Focus as Reliance MediaWorks sells shares

Reliance MediaWorks Ltd, the media and entertainment arm of the Reliance Group, has sold nearly 10% stake in Prime Focus Ltd. Reliance MediaWorks sold 29.1 million shares (9.74%) in Prime Focus for Rs.151.3 crore through open market transactions, according to data available on the BSE. The shares have been bought… Read more »