RIL buys 25% stake in Balaji Telefilms for Rs413 crore
Reliance Industries Ltd (RIL), India’s biggest company by market value, on Thursday acquired a 24.92% stake in film and television production house Balaji Telefilms Ltd in a deal worth Rs413.28 crore. The board of Balaji Telefilms approved the investment by RIL, which will buy 25.2 million equity shares at Rs164 each, subject to shareholder and other approvals.
Jet debt concerns: Airline asks junior pilots to take 30% cut or leave
Jet Airways has asked its junior pilots to take 30 per cent salary cut or leave the organisation in a cost-saving exercise. Jet, which is facing pressure on profitability, is implementing a new work pattern for 150 juniormost pilots who joined the airline last July. Under this, the pilots will be offered 10 days’ leave and will be paid for 20 days only in a month. This will be implemented on an interim basis from August 1, the airline informed its pilots.
RIL AGM: After tapping smartphone users, Jio may launch 4G feature phones
As Reliance Jio sets the next stage of a market share war in telecom with plans to launch a 4G feature phone, all eyes are set on what Mukesh Ambani will unravel at the group’s annual general meeting in Mumbai on Friday. The question on everyone’s mind is: Will the launch be as disruptive as its pricing strategy when it began operations last year? And will it have any serious impact on the existing players? The answer is buried in the current market scenario. With a mobile density of over 92 per cent, the country is a mature telecom market.
Three consortia led by Alstom, Siemens and Stadler Bussnang eye Rs 2,000 crore coach factory project
NEW DELHI: Three consortia led by multinational transportation giants Alstom, Siemens and Stadler Bussnang AG are in the race to set up an electric rail coach factory in West Bengal. The proposed rail coach factory that would produce coaches with aircraft-type interiors is expected to come up on railway land in Kanchrapara near Kolkata on a public-private partnership basis and will involve a total investment of Rs 2,000 crore.
Every English, regional government advertisement to have Hindi version
The Centre has asked all its 88 ministries and departments to have a Hindi version of every advertisement that they release either in English or in a regional language. This follows the President approving recommendations of the Parliamentary Committee on Official Languages in March. At present, as per the Print Media Advertisement Policy of the I&B ministry, ministries and departments are supposed to spend 30% of their advertisement budget on advertisements in English newspaper.
Ola kidnapping case: Cab firms likely to make hiring of drivers stricter
The kidnapping of an Ola rider by one of the drivers on its platform is prompting ride-hailing companies to implement more stringent processes while signing up new drivers and may force the companies to curb expansion to ensure passenger safety, say analysts and company executives. The incident is seen as the biggest threat to the expansion of cab-hailing services in India after the rape of a woman Uber rider in December 2014 forced the company and Ola (ANI Technologies Pvt. Ltd) to be stricter about their driver verification processes, add an SOS button on their apps and generally pay more attention to passenger safety.
Linkin Park lead singer Chester Bennington commits suicide: Report
Chester Bennington, the lead singer of Linkin Park, was found dead on Thursday of apparent suicide a week before the California alt-rock band was due to embark on a US tour. Bennington, 41, known for his powerful, belting vocals, died at his Palos Verdes home near Los Angeles, the Los Angeles County Coroner’s office said. Spokesman Brian Elias said the death was being handled as an apparent suicide, and celebrity website TMZ, citing law enforcement sources, said Bennington had hung himself while alone at the house when his family was out of town.
About the Author
