Top biz headlines: Jio to charge for calls, Airtel raises $750 mn, and more

From Reliance Jio charging for calls to other networks to Airtel raising $750 million, here are the top 10 business headlines on Thursday

Uncertain over IUC regime, Jio to charge for calls to other networks

Reliance Jio on Wednesday said it would charge 6 paise per minute for voice calls made by customer to other networks such as Airtel and Vodafone Idea after indications that call connect charges may not end on December 31 as proposed earlier. Read More

Shares of HDIL hit lower circuit; have lost over 50% in 17 trading sessions

Shares of Housing Development and Infrastructure Ltd (HDIL) extended losses on Wednesday falling nearly 5 per cent to hit the lower circuit limit amid reports that auditors of the realty firm may be included in the ongoing PMC Bank scam probe. Read More

Tata Steel scripts a new consumer story with its digital marketplace

With Rs 100 crore as revenue within a year of inception, Aashiyana, the digital platform for home solutions by Tata Steel has sprung a surprise on the century-old steel giant, not just in terms of the commercial potential it has unlocked but also by opening up new trails for customer engagement with a younger demographic. Read More

Bharti Airtel raises $750 mn from investors based in Asia, Europe and US

Telecom operator Bharti Airtel on Wednesday said it has raised $ 750 million (about Rs 5,330 crore) from investors based in Asia, Europe and the US through a hybrid financial instrument. Bharti Airtel said in a statement that "its wholly-owned subsidiary Network i2i Limited, has priced ... offering of $ 750 million 5.650 per cent subordinated perpetual securities." Read More

No slowdown blues for AC makers as double-digit sales growth continues

Shares of air conditioning (AC) equipment makers such as Voltas, Blue Star and Johnson Controls-Hitachi Air Conditioning India, are trading 18-28 per cent higher from their July-August lows, with some even near 52-week highs. Read More

India slips down 10 places to 68th rank on global competitiveness index

India has moved down 10 places to rank 68th in a global index that measures competitiveness, as it fared poorly in most parameters such as infrastructure, the adoption of information, communications and technology (ICT), financial markets, skills, and innovation capability, compared to last year. Read More

OECD proposes plan to tax Google, Netflix among other tech giants

The Organisation of Economic Co-operation and Development (OECD) has proposed an overhaul in the taxation system for multinational companies. This move could force entities, including digital giants Google, Netflix, Facebook, and Amazon, to shell out taxes in countries where they do not have physical presence. Read More
 

MakeMyTrip announces tie-up with TripAdvisor for outbound travel space

MakeMyTrip, an online travel company, announced a sourcing tie-up with travel website TripAdvisor, offering its customers tours and activities in over 100 places abroad. Read More

CARE Orders Forensic Audit of its Rating Calls 

CARE Ratings has ordered a forensic audit into its rating decisions to ascertain whether there was management interference in assessing the creditworthiness of companies after a whistleblower complaint led to regulatory scrutiny of the firm, two people familiar with the matter told Economic Times. EY has been hired by the homegrown rating agency to examine whether there were lapses on its part in assigning ratings, not only to Infrastructure Leasing & Financial Services (IL&FS) but also to a larger universe of companies.

Altico Capital looks to raise Rs 2,000 crore 

Altico Capital India Ltd, the real estate-focused lender that defaulted on interest payments in September, has proposed to sell loans worth around Rs 2,000 crore as part of its debt resolution plan, two people directly aware of the development said, according to Mint report. The resolution plan is expected to be submitted to Altico’s lenders and investors by the end of next week, the people cited above said on condition of anonymity.