Zee Entertainment Enterprises (ZEEL) announced on Friday that nearly 100 percent of its shareholders have approved the proposed merger with Sony Pictures Networks (SPN) India. India has allowed export-oriented entities and firms located in special economic zones to export flour made from imported wheat, a government regulation said. Read more about it in our top headlines.
99.99% of Zee Entertainment shareholders vote to merge with Sony
Zee Entertainment Enterprises (ZEEL) announced on Friday that nearly 100 percent of its shareholders have approved the proposed merger with Sony Pictures Networks (SPN) India. Zee had called a shareholders’ meeting on Friday after complying with orders from the National Company Law Tribunal (NCLT) in Mumbai in August. Continue reading
India allows the export of wheat flour processed from imported grain
India has allowed export-oriented entities and firms based in special economic zones to export flour made from imported wheat, a government regulation said on Friday, responding to demands from food processors to allow shipments of value-added products. India will allow food processors to import duty-free wheat in exchange for an obligation to export flour, the order said. Continue reading
Aditya Birla Capital joins race to acquire life insurer Reliance Nippon
Aditya Birla Capital, the financial services company of Aditya Birla Group, has joined the race to acquire a 51 percent stake in Reliance Nippon Life Insurance Company (RNLIC), a unit of bankrupt Reliance Capital. Ahmedabad-based Torrent Group is also in the fray. Continue reading
Rupert Murdoch wants to put his media empire back together after the 2013 split
Rupert Murdoch is exploring opportunities to sell his Fox Corp. businesses. and News Corp. to recombine and rebuild a media empire he had divided in 2013. Both companies have set up special committees of independent directors to investigate a potential deal and evaluate possible terms on statements they released late Friday. Continue reading
Exports rose 4.8% to $35.45 billion days after initial data showed a decline
India’s goods exports rose 4.8 percent year on year to $35.45 billion in September, according to revised data released by the Commerce Ministry on Friday, reversing its earlier estimate of a contraction for the first time in 19 months. Meanwhile, September imports rose 8.66 percent year-on-year to $61.16 billion. Continue reading
