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Top Headlines: Flipkart challenges CCI probe, Trump trade talks, and more

Flipkart's legal filing was aimed at signalling the company is aggrieved by the CCI's probe order, a person familiar with the matter said

BS Web Team  |  New Delhi 


1. After Amazon, Walmart's Flipkart challenges India antitrust probe

Walmart's Flipkart has filed a legal challenge against an antitrust investigation ordered against the company in India, a court filing seen by Reuters showed, following a similar petition by its rival Inc.

The Competition Commission of India (CCI) in January ordered a probe into alleged violations of competition law and certain discounting practices by the two e-commerce giants, but a state court put the investigation on hold last week following a challenge by Amazon. Read on...

2. India hitting US 'very hard' on trade; will 'talk business' with PM Modi: Trump

India has been hitting the US "very hard" on trade with high tariffs for many years, Donald Trump complained ahead of his first visit to the country during which the President said he will "talk business" with Prime Minister Narendra Modi to promote American products.

President Trump and First Lady Melania are scheduled to travel to Ahmedabad, Agra, and New Delhi on February 24 and 25. Read more...

3. Efforts on to include G-Secs in global indices soon, says Shaktikanta Das

Reserve Bank of India Governor Shaktikanta Das has said the central bank has already initiated discussions with some institutions and efforts are on for inclusion of government bonds in global indices as quickly as possible.

The development would attract higher foreign flows as many overseas funds are mandated to track global indices. Read on...

4. Pakistan likely to get four-month breather to fulfil FATF obligations

Pakistan is likely to get four months to fulfil requirements of the Financial Action Task Force (FATF) and secure an exit from its grey list.

A decision to this effect was likely to be taken by the FATF on Friday after the conclusion of the February 16-21 group meetings and plenary in Paris. The Pakistani delegation to the meetings was led by Revenue Minister Hammad Azhar. Read more...

5. Ahead of IPO, SBI Cards sees fintechs, UPI as formidable competition

SBI Cards and Payment Services has stated new-age fintech-led payments mode, including Unified Payments Interface (UPI), as formidable competitors, in a filing of prospectus for its upcoming initial public offering (IPO).

Before going for an IPO, it is mandatory for a company to list out its risk factors so that the public is able to make an informed decision. Read on...

6. CIL's coal supply to power sector declines 7% in April-January period

State-owned CIL's coal supply to the power sector registered a decline of 6.8 per cent to 377.86 million tonnes (MT) in the the April-January period of the ongoing fiscal. The commodity despatch by Coal India (CIL) to the power sector in the year-ago period was 405.61 MT, according to official data. Read more...

7. Daughter Ivanka and son-in-law Kushner to accompany Trump to India

US President Donald Trump's daughter Ivanka and son-in-law Jared Kushner will be part of the high-level delegation accompanying him during his visit to India on February 24 and 25, official sources said on Friday. Trump's wife Melania Trump is also part of the delegation, which includes Treasury Secretary Steven Mnuchin and Commerce Secretary Wilbur Ross. Read on...

8. Dewan Housing chairman Kapil Wadhawan gets bail in Iqbal Mirchi case

A special court here on Friday granted bail to Kapil Wadhawan, chairman and MD of Dewan Housing Finance (DHFL) arrested in connection with a money laundering case also involving the late gangster Iqbal Mirchi. Wadhawan (46) was arrested on January 27 by the Enforcement Directorate under the Prevention of Money Laundering Act (PMLA). Read more ...

First Published: Fri, February 21 2020. 15:47 IST