 "News digest")
After Walmart deal, Flipkart plans expansion into other categories
It took a $16-billion stake sale, a change in the top management, and an entry of the largest retail giant in the world for Flipkart to alter its game plan. Read more
Higher crude prices threaten govt's dividend income from oil PSUs
Rising crude oil prices are not only bad for India's currency and current account deficit, but could also negatively impact the government’s income from central public sector enterprises by drying up the dividend bonanza from oil companies. Read more
Govt may relax clause that dissuaded foreign firms from taking part in OALP
The government is likely to relax a controversial clause that kept foreign companies from taking part in the first round of the Open Acreage Licensing Programme (OALP), launched last year. Under this clause, firms had to seek the government’s permission for divesting in a firm that got the licence to an acreage (an area identified for exploring and producing oil and gas). Read more
Manipal-TPG extends validity of new Fortis Healthcare offer to June 6
Manipal-TPG combine has said it has extended the validity of its modified offer for Fortis Healthcare to June 6, 2018. Read more
US President Donald Trump cancels meeting with North Korea's Kim Jong Un
In a surprise move, US President Donald Trump on Thursday cancelled his proposed summit meeting with North Korean leader Kim Jong Un on June 12 in Singapore and blamed Pyongyang’s “tremendous anger” and “open hostility” for his decision. Read more
