Top 10 business headlines: IL&FS case, 5G trials, Air India deal, and more

From Airtel Africa IPO to IL&FS crisis, Business Standard brings to you stories that made the headlines on Tuesday

SC allows SFIO to reopen and recast IL&FS accounts for last five years

The Supreme Court on Tuesday allowed the Serious Fraud Investigation Office (SFIO) to reopen and recast the accounts of Infrastructure Leasing & Financial Services (IL&FS) and two of its key subsidiaries of five years starting 2012-13 (FY13). Read on...

Huawei India CEO Jack Chen demands level playing field for 5G trials

Huawei India CEO Jack Chen has demanded that the government provide a “level playing field” instead of using “country of origin” as the basis for giving permission to companies for the much-awaited 5G trials in the country. Read on...

High real interest rates make India uncompetitive, says Ajay Piramal

The ailing non-banking financial sector needs immediate support from the central bank, says Ajay Piramal, chairman, Piramal Enterprises. The government must also address woes of the real estate sector on a priority basis for growth and job creation, he tells Abhijit Lele and Sohini Das. Read on...

Big automobile firms should put money where the mouth is: Rajiv Bajaj

Bajaj Auto will start selling the Husqvarna, KTM and Bajaj-badged electric two-wheelers – including scooters, step-thrus and mopeds – beginning 2022 from its Pune plant as part of a partnership with its Austrian partner, KTM. Read on...

Hinduja group wants to steer clear of grounded Jet Airways' past

The Hinduja group, which has expressed interest in buying a stake in Jet Airways, is learnt to have sought an assurance from the Union government that the investigation linked to the Naresh Goyal-led airline would be fast-tracked so that the potential of its aviation business is not hampered once it decides to invest. Read on...

Bharti Airtel's African arm to raise at least $750 million through IPO

Bharti Airtel on Tuesday said its Africa subsidiary Airtel Africa would raise at least $750 million (around Rs 5,189 crore) through an initial public offering (IPO). Read on...

Airbus got Rs 1,000-crore undue benefits in Air India deal: ED

The Enforcement Directorate’s (ED) money laundering probe into an Air India deal with Airbus to supply 43 passenger planes has revealed fraudulent benefit of Rs 1,000 crore to the European aviation firm. Read on...

Govt makes highest-ever expenditure cut of Rs 1.4 trillion for FY19

The government has resorted to an unprecedented expenditure cut of Rs 1.45 trillion for the financial year 2018-19 (FY19) to meet its fiscal deficit target of 3.4 per cent of the gross domestic product, official data shows. Read on...

SoftBank may serve up fresh funds to the tune of $300-500 million for Swiggy

Food delivery startup Swiggy is in advanced talks to raise as much as $1 billion from investors, including $300-500 million from SoftBank Group, stealing a march on rival Zomato, which was also wooing the Japanese firm for a mega investment, four people familiar with the development said, reports Livemint.

Forget transmission, some banks have raised lending rates since last repo cut

In recent weeks, there has been a growing clamour for rate cuts by the RBI. Low inflation reading and disappointing GDP growth numbers for the March 2019 quarter have strengthened the case for sharper rate cuts, reports The Hindu BusinessLine.