The business wrap: Reliance Comm-Aircel merger aims to raise $1 billion, and six other top stories
Tata Steel said it wants to hire 5,500 women by 2020, and Finance Minister Arun Jaitley conducted a performance review of public sector banks.
A look at the headlines in the sector right now:
- Reliance Communications, Aircel look to raise $1 billion for expansion after merger: The new entity will begin with a debt of $4.2 billion, according to executives from the Anil Ambani-owned company.
- With just 6% women on its rolls, Tata Steel wants to hire 5,500 more by 2020: The company is also planning to hire 100 candidates with disabilities every year.
- State-run banks need greater initiative to check NPAs, says Arun Jaitley after holding performance review: The finance minister, who met the heads of public sector banks, said they had taken measures to improve the state of non-performing assets.
- Petrol prices up by 58 paise, diesel cheaper by 31 paise a litre: This means petrol will cost Rs 64.21 a litre and diesel Rs 52.59 a litre in Delhi.
- Chinese government permits formation of trade body to promote investments in India: The China India Business Council will also set up offices in New Delhi and Hyderabad.
- Lenovo trolls Apple in promotional video for Moto Z, tells users to ‘skip the sevens’: The Chinese company is using the campaign to promote the modular features of its newly-released range of smartphones.
- US announces formal recall of 1 million Samsung Galaxy Note7 phones: The agency found that there have been 92 cases of battery explosion in the country, besides 26 incidents of burns and 55 reports of property damage.