Hyundai-Kia’s $300 Mn investment in Ola finally receives CCI nod

Hyundai and Kia Motors’ $300 million investment plan in ride-hailing juggernaut Ola has finally received a green signal from the Competition Commission of India (CCI). The antitrust watchdog has approved the acquisition of shares in Ola’s parent entity, ANI Technologies & Ola Electric by Hyundai Motor and its affiliate Kia Motors subjected to compliance of modifications. With the collaboration, most of the new investment will be infused into ANI Technologies. Furthermore, Hyundai and Kia will take a minority stake in Ola Electric. This investment round may also witness participation from Microsoft and…

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SC panel declares public health emergency in Delhi-NCR, bans construction till Nov 5

A Supreme Court mandated panel on Friday declared a public health emergency in the Delhi-NCR region and banned construction activity till November 5. As pollution level in the region entered the “severe plus” category, the Environment Pollution (Prevention and Control) Authority also banned the bursting of crackers during the winter season. The air quality in Delhi-NCR deteriorated further Thursday night and is now at the severe plus level, EPCA chairperson Bhure Lal said in a letter to the chief secretaries of Uttar Pradesh, Haryana and Delhi. “We have to take…

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CCI clears Advent International investment in Aditya Birla Capital

NEW DELHI : The Competition Commission of India (CCI) has approved indirect acquisition of 4.15% stake in Aditya Birla Capital Ltd. by private equity firm Advent International Corp., said an official release. The investment is being made by Jomei Investments Limited (JIL) which is wholly-owned by a fund managed by Advent International Corp. CCI did not specify the amount of investment coming into Aditya Birla Capital, but the company had said in September that its board had approved mobilising Rs2,100 crore investments including Rs1,000 crore of equity investments from Jomei Investments Ltd, an affiliate…

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Foreign investment or grassroots growth – the future of mining in Rwanda

It is one of the smallest countries in Africa with a total area estimated at around 26,000km² and a population of roughly 12 million people. You can drive across its winding, smoothly paved roads in a matter of hours. But Rwanda, a mountainous country known locally as le Mille Collines – the land of a thousand hills – punches well above its weight: it is one of Africa’s fastest-growing economies despite experiencing a civil war just two and a half decades ago. Among the countries most promising industries is the mining sector,…

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Entrepreneurs’ tax break fails to boost investment, finds IFS

Sajid Javid has been told that low rates of capital gains tax give an unfair advantage and fail to boost investment. Photograph: Tolga Akmen/AFP via Getty Images The chancellor, Sajid Javid, has been told by Britain’s foremost tax and spending thinktank that tax breaks for business owners give the rich an unfair advantage and fail to boost investment in the UK. Before Javid’s first budget next month, the Institute for Fiscal Studies (IFS) said low rates of capital gains tax on business income did not encourage companies to invest more in the…

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Mental health days for students: An increasingly accepted reason to stay home from school

Public school students would be allowed to cite the need for a mental health day as an excuse to miss school, under a bill filed in the Florida Legislature for the 2020 session. The proposal is part of a growing movement in multiple states aimed at improving students’ mental well-being. Rep. Susan Valdes, D-Tampa, says she wants to elevate mental and behavior health issues to the same level as the flu, colds and dental appointments as a legitimate reason for students to call in sick. “It is time for us to take mental…

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