Companies

Oman Air seeks more seat entitlement from India

Oman received 3.21 lakh Indian visitors in 2017. Photo: Bloomberg Mumbai: Gulf carrier Oman Air Tuesday said it is in discussions with the Indian government for increasing the weekly seat entitlement to enable expansion of its services in the rapidly growing aviation market. The Oman’s flagship carrier, which has completed 25 years into the business, …

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Printing cost of currency notes rose to Rs 8,000 crore after demonetisation

On casualty incidents at all public sector banks during the note ban period, Arun Jaitley said only State Bank of India (SBI) had reported that three staffers and one customer died during the demonetisation drive. Photo: Mint New Delhi: The cost of printing currency notes escalated to Rs 7,965 crore in 2016-17, the year when …

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Elon Musk says he personally spent $40 million on Boring Company

Lights illuminate tunnel boring equipment and the tunnel pit entrance during an unveiling event for the Boring Company Hawthorne test tunnel in Hawthorne, California. Photo: AFP Elon Musk took the wraps off his Boring Co.’s first completed test tunnel on Tuesday, with a lot of razzle-dazzle, the admission he had spent $40 million of his …

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Capital First merges with IDFC Bank to create IDFC First Bank. 5 things to know

As part of the merger agreement, shareholders will receive 139 shares of IDFC Bank for each 10 shares held of Warburg Pincus-backed Capital First. Photo: Aniruddha Chowdhury/Mint New Delhi: IDFC Bank and non-banking financial company (NBFC) Capital First have announced completion of their merger, creating a combined loan asset book of Rs 1.03 lakh crore …

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Milkbasket gets $7 million funding from Mayfield, others

Milkbasket co-founders (from left) Anant Goel, Anurag Jain, Ashish Goel and Yatish Talvadia. Bengaluru: Micro-delivery startup, Milkbasket, has raised $7 million as part of its Series A funding round led by Mayfield Advisors, the company said on Tuesday. Existing investors, including Kalaari Capital, Unilever Ventures and Beenext Pte Ltd, also participated in the round. US-based …

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Edtech startup Toppr raises $35 million in fresh funding

Although Byju’s is bigger, Toppr founder Zishaan Hayath claimed students spend 110 minutes a day on the Toppr app, almost three times as much as Byju’s. Mumbai: Toppr Technologies Pvt. Ltd, an education technology (edtech) startup, has raised $35 million in a Series C round led by education-focused investor Kaizen Private Equity, venture debt firm …

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Ola to invest $100 million in mobility startup Vogo

Vogo founders (from left) Padmanabhan Balakrishnan , Anand Ayyadurai and Sanchit Mittal. Bengaluru: India’s leading cab-hailing service Ola (ANI Technologies Pvt. Ltd) has agreed to invest an additional $100 million in scooter-sharing startup Vogo as part of a new strategic alliance that effectively signals Ola’s entry into the scooter sharing space. Separately, Vogo is also …

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Petrol price back to January levels, diesel tracking April rates. Today’s fuel prices in top cities

From its October 4 highs, petrol prices are down Rs 14-15 a litre while diesel prices are off Rs 11-12 a litre. This month alone, petrol and diesel prices are down by Rs 2-3 per litre. Photo: Mint New Delhi: As international crude oil prices struggle to come out of a bearish market, the price …

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Ola to invest $100 million in scooter-sharing firm Vogo

Ola co-founder and CEO Bhavish Aggarwal Bengaluru: India’s leading cab-hailing service Ola (ANI Technologies Pvt. Ltd) has agreed to invest an additional $100 million in scooter-sharing start-up Vogo as part of a new strategic alliance that effectively signals Ola’s entry into the scooter sharing space. Separately, Vogo is also in advanced talks to raise an …

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Why independent directors are rushing for the exit door

The number of independent directors exiting without adequate reasons has been growing year on year. Photo:istock Mumbai: Independent directors, the ‘protectors’ of minority shareholders’ rights, have been quick to jump ship at the slightest sign of trouble. The recent exit of three independent directors from Yes Bank Ltd—the chairman, and two from JM Financial Asset …

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