Monday, June 13, 2016

Weekly Digest #1

Starting this week, this blog shall initiate 'Weekly Digest'. For this, we shall be posting a brief summary of news that affected the business world during the week. Main events will be picked from Monday-Friday and their summary will be posted on the weekend. The news events that occurred during the weekend will be covered in the next digest, The basic rules that will be followed will be-

1.) No news item shall exceed 50 words.
2.) No more than 5 highlight news for a particular day. 

We hope to attract more viewers to this blog by this initiative and hope it will be a successful one.
Suggestions are always welcome.

Monday- 13th June 2016

  • Reliance Communication and Aircel merger expected to finalise in early July. Reliance Communications will turn its wireless business into an arm, which will be absorbed by Aircel. Merger entity to have new brand entity later, with both partners having equal ownership.
  • Tata Power to buy Welspun's renewable energy assets fo Rs. 10,000 crores ($1.4 billion). This will be the largest solar sector Mergers & Acquisitions in Asia.
  • In a meeting with RBI, bankers said that there could be a delay in the delivery of dollars by banks with whom RBI has entered into forward contracts. This is due to the likely outflow of $20 billion of foreign currency deposit between Sep-Nov this year.

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