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Aug 24, 2015

Heineken eyes control of Kingfisher beer maker – sources

MUMBAI (Reuters) – Heineken NV (HEIN.AS: Quote, Profile, Research, Stock Buzz) is seeking to raise its stake in India’s largest brewer, United Breweries Ltd (UBBW.NS: Quote, Profile, Research, Stock Buzz), to gain full management control as it bets on the country’s growing thirst for beer, sources with direct knowledge of the matter said.

Dutch brewer Heineken is the single-largest shareholder in United Breweries, maker of Kingfisher beer, with a 42.07 percent stake. It now plans to take that holding beyond 50 percent by buying shares from indebted liquor baron Vijay Mallya.

Aug 24, 2015

Heineken eyes control of Indian maker of Kingfisher beer – sources

MUMBAI, Aug 24 (Reuters) – Heineken NV is seeking
to raise its stake in India’s largest brewer, United Breweries
Ltd, to gain full management control as it bets on the
country’s growing thirst for beer, sources with direct knowledge
of the matter said.

Dutch brewer Heineken is the single-largest shareholder in
United Breweries, maker of Kingfisher beer, with a 42.07 percent
stake. It now plans to take that holding beyond 50 percent by
buying shares from indebted liquor baron Vijay Mallya.

Aug 19, 2015

Corrected – Uber aims at a mln rides a day in India, gets funds from Tata Group

MUMBAI (Reuters) – Taxi hailing service Uber Technologies Inc [UBER.UL] has received fresh investment from Tata Opportunities Fund, a private equity fund advised by India’s Tata Capital, as it expands its business, the companies said.

The companies did not disclose the amount of investment but a source close to the matter said it was between $75 million and $100 million.

Aug 19, 2015

Uber India aims for a million rides a day, parent gets funding from Tata

MUMBAI (Reuters) – Taxi-hailing service Uber Technologies Inc [UBER.UL] said it plans to average more than 1 million rides a day in India over the next six to nine months, as it steps up investment in its business to take on local rival Ola.

The company currently averages about 200,000 trips a day in India, according to industry sources. By comparison, rival Ola, backed by Japan’s Softbank, says it clocks more than 750,000 a day and expects to hit 1 million this month.

Aug 18, 2015

Alibaba, Foxconn and SoftBank invest in Snapdeal

MUMBAI/TAIPEI (Reuters) – China’s Alibaba Group Holding (BABA.N: Quote, Profile, Research, Stock Buzz), Japan’s SoftBank Group Corp (9984.T: Quote, Profile, Research, Stock Buzz) and Foxconn will lead an investment of $500 million in India’s Snapdeal, the online marketplace said on Tuesday, as it seeks to expand in the country’s fast growing ecommerce sector.

The move is a vote of confidence from three of the world’s biggest technology companies in Snapdeal, which in October got a $627 million investment from SoftBank, also an early backer of Alibaba.

Aug 18, 2015

Alibaba, Foxconn and SoftBank invest in India’s Snapdeal

MUMBAI/TAIPEI, Aug 18 (Reuters) – China’s Alibaba Group
Holding, Japan’s SoftBank Group Corp and
Foxconn will lead an investment of $500 million in India’s
Snapdeal, the online marketplace said on Tuesday, as it seeks to
expand in the country’s fast growing ecommerce sector.

The move is a vote of confidence from three of the world’s
biggest technology companies in Snapdeal, which in October got a
$627 million investment from SoftBank, also an early backer of
Alibaba.

Aug 14, 2015

Trident-toting “god woman” Radhe Ma questioned by police

MUMBAI (Reuters) – A trident-toting Indian “god woman” worshipped as a miracle worker was questioned by police on Friday over accusations that she tried to extort dowry money from brides, the latest in a long line of popular gurus to run into legal problems.

Named after Hindu god Lord Krishna’s consort, Radhe Ma, 50, is one of modern India’s many self-styled “god people” who command legions of followers including politicians and Bollywood personalities.

Aug 14, 2015

Trident-toting Indian “god woman” questioned by police

MUMBAI, Aug 13 (Reuters) – A trident-toting Indian “god
woman” worshipped as a miracle worker was questioned by police
on Friday over accusations that she tried to extort dowry money
from brides, the latest in a long line of popular gurus to run
into legal problems.

Named after Hindu god Lord Krishna’s consort, Radhe Ma, 50,
is one of modern India’s many self-styled “god people” who
command legions of followers including politicians and Bollywood
personalities.

Aug 13, 2015

Bombay High Court scraps Maggi recall order, but demands tests

MUMBAI (Reuters) – The Bombay High Court on Thursday ruled in favour of Nestle(NESN.VX: Quote, Profile, Research, Stock Buzz) in its battle to overturn a nationwide ban of its Maggi instant noodles, but demanded the popular snack be tested again for safety before it can go on sale again.

The ruling marks a partial victory for the Swiss food giant, which withdrew the noodles from Indian stores in June after the Food Safety and Standards Authority of India (FSSAI) said they contained unsafe levels of lead.

Aug 13, 2015

India court scraps Nestle noodle recall order, but demands tests

MUMBAI (Reuters) – An Indian court on Thursday ruled in favor of Nestle in its battle to overturn a nationwide ban of its Maggi instant noodles, but demanded the popular snack be tested again for safety before it can go on sale again.

The ruling marks a partial victory for the Swiss food giant, which withdrew the noodles from Indian stores in June after the Food Safety and Standards Authority of India (FSSAI) said they contained unsafe levels of lead.

    • About Nivedita

      "Think all things tech and telecoms. Currently in Mumbai. Previously in Chicago, covering retail, transport and airlines. Joined Reuters in 2008."
      Joined Reuters:
      2008
      Languages:
      English, Hindi, Bengali
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