Top 10 biz headlines: ArcelorMittal bags Essar Steel, Feb car sales, more

From ArcelorMittal's big win to UDAN scheme, Business Standard brings you top 10 business headlines that made news on Friday

NCLT okays ArcelorMittal's Rs 42,000-crore offer to take over Essar Steel

In a major win for L N Mittal-led ArcelorMittal, the National Company Law Tribunal (NCLT) Ahmedabad on Friday approved its Rs 42,000-crore takeover bid for debt-laden Essar Steel India Ltd. Read on...

After FDI prick, Amazon back in the ring with record number of merchants

Amazon India seems to be back on track after adding over 50,000 sellers since January. Their numbers are at an all-time high, at 450,000 merchants. Read on...

SBI links pricing of loans, deposits to repo rate; new rate effective May 1

In a first-of-its-kind initiative, the nation's largest lender State Bank Friday announced linking of its savings deposits rates and short-term loans to an external benchmark--the repo rate of the Reserve Bank. Read on...

Govt sells 73% stake in DCI to consortium of four ports for Rs 1,050 crore

The central government on Friday concluded the strategic sale of Dredging Corporation of India (DCI) to a consortium of four ports, a move that would help it meet the Rs 80,000-crore disinvestment target set for the current financial year. Read on...

Indian start-ups mopped up $7 bn from PEs, VCs in 2018, says EY report

E-commerce and consumer internet companies raised over $7 billion in private equity and venture capital in 2018, according to a latest EY report. Read on...

February car sales down 1.11% on high interest rates, cost of insurance

The automobile industry continued losing customers in February as all the segments saw significant decline in sales due to high interest rates, subdued market sentiments and high cost of insurance. Read on...

NCLT nod for ICICI Bank plea to start insolvency process against Punj Lloyd

In a setback to engineering and construction firm Punj Lloyd, the National Company Law Tribunal (NCLT) has admitted an insolvency plea against the company filed by ICICI Bank. Read on...

Sub-500 sq ft houses in Mumbai get 100% property-tax waiver

Residential units between 501 sq ft and 700 sq ft will see a 60 per cent reduction in the tax rate, reports Hindu Business Line.

HFCs in a quandary after new NHB norms, but some look safe

The latest round of tweaking of norms proposed by the National Housing Bank (NHB) may hit housing finance companies (HFCs) at the core, but analysts say not all of them are going to take a big knock, reports Economic Times.

UDAN scheme: 4 airlines to link Ghaziabad to 8 small towns from mid May

Come 15 May, people will be able to fly from Delhi NCR to eight small towns, with four airlines scheduled to start operations under the government’s subsidized regional connectivity scheme, reports Livemint.