News Digest: Ola raises $1 bn, GST rates relaxed for fuel sector, and more

From EAC-PM batting for fiscal consolidation to Aditya Birla Group set to exit from fertilizer business, BS brings you up to date with latest news

Ola raises $1.1 bn from Tencent, SoftBank; to boost business, take on Uber
 
With this money, it intends to beef up its technology investments, expand supply, and ensure it maintains a lead over rival Uber. Read more
 
E-commerce fund-raise may take a break now as firms prepare for payback
 

The next mega round of fund-raising in the Indian e-commerce sector is unlikely anytime before the second half of 2019, industry watchers are suggesting. Read more
 
PM Modi's economic panel bats for fiscal consolidation
 
The newly constituted Economic Advisory Council to the Prime Minister (EAC-PM) on Wednesday batted for sticking to fiscal consolidation at a time when there was demand for fiscal stimulus to boost sagging economic growth. Read more

 
Aditya Birla group set to exit fertiliser business this year
 
The Aditya Birla group is set to exit the fertiliser business, with two players valuing the division at around Rs 3,000 crore. Read more
 
Oil & gas, infra firms to be hit by PE norms
 
Oil and gas, power and other infra sector companies will be the most impacted by the change in norms of permanent establishment (PE), post-India’s recent signing of the multilateral instrument (MLI) as part of measures to prevent base erosion and profit shifting. Read more