Top 10 biz headlines: ITC-Hotel Leela case, Jet Airways crisis, and more

From ITC-Hotel Leela case to Amazon India's plan to take on Alibaba, Business Standard brings you top 10 business stories that made news on Tuesday

ITC takes Hotel Leela to NCLT over 'oppression' in JM ARC, Brookfield deals

Barely a month after Canadian private equity player Brookfield closed a deal to buy four hotels and a property of Hotel Leelaventure, ITC, which has a 8.72 per cent stake in the hospitality firm, has filed a petition in the NCLT, accusing the company of oppression and mismanagement. Read on...

Saudi, Iraq and UAE may fill in Iran gap as US ends sanctions waiver

India’s crude oil imports from Iran during 2018-19 increased by 4.4 per cent to 23.6 million tonnes (mt), compared to 22.6 mt during the previous financial year. This is likely to be replaced in 2019-20 by oil imports from countries like Saudi Arabia, Iraq, and the United Arab Emirates. Read on...

Flipkart may invest Rs 5,000 cr in logistics parks, generate 50,000 jobs

Flipkart is acquiring 300 acres in Karnataka, Gurugram and West Bengal to set up logistics parks as the e-commerce major looks at tapping the next wave of e-commerce opportunity in the country. Read on...

It is nice to be number one, but not at any cost: Mercedes-Benz India CEO

Martin Schwenk, the newly appointed chief executive officer (CEO) at Mercedes-Benz, talks to Pavan Lall about the struggle to grow the luxury car market, its increased sales through digital marketing, and how the company aims to tap product niches. Read on...

Air cargo market in a tizzy as Jet grounding drives up delivery costs

Grounding of Jet Airways has hit the entire air cargo market, leading to logistics players running helter-skelter to get their cargo consignments delivered, although at a higher cost. Read on...

Amazon India charts out B2B plan to take on global rival Alibaba

Amazon India is on a massive drive to increase its reach and services of business to business (B2B) arm in the country in a bid to take on global rival Alibaba. Read on...

US move on Iran oil to see inflation rise, RBI holding rates in June

An increase in global crude oil prices following the US’ decision to end relief to India and others on purchase of the commodity from Iran would slightly raise the inflation rates in the country, besides increasing the government’s import bill and subsidy burden. Read on...

British entrepreneur offers to take control of Jet Airways

The founder of Atmosphere Intercontinental Airlines has written to Jet Airways CEO Vinay Dube, reports Moneycontrol.

‘We need to invest in understanding, leveraging the new technologies’

‘We need to invest in understanding, leveraging the new technologies’, S Gopalakrishnan, co-founder, Infosys, and chairman, Axilor Ventures tells Hindu BusinessLine.

Reliance prepares the ground for e-commerce launch

Reliance Retail is testing a food and grocery app among employees before the commercial launch of its e-commerce platform, reports Mint.