Business

To participate in stake sale process, IFC may underwrite Air India debt

New Delhi: International Finance Corporation (IFC) has evinced interest to participate in the Air India sale process. The World Bank's private investment arm is assessing potential investment opportunity in the state-owned airline and is willing underwrite the entire debt amount for the successful bidder.

'IFC has had rounds of discussion with transaction advisor EY for the Air India deal and have said they would explore opportunity to work with a successful bidder by underwriting the debt amount,' a person aware of the developments said.

Centre has called for bids to sell 76% in Air India along with 100% in low-cost arm Air India Express and 50% stake in joint venture AISATS, which is into ground handling business.

Indian cities 149% more congested than Asian counterparts

New Delhi : Indian cites are 149 percent more congested than other Asian cities, said Uber commissioned BCG report on Wednesday.According to the Bosto...

IT Dept employees directed to follow dress code

New Delhi: The Income Tax (IT) department issued an order to its employees directing them to adhere to the prescribed dress code imposed through the r...

'Temporary shortage' of cash is being tackled quickly, assures FM Jaitley

New Delhi: Union Finance Minister Arun Jaitley on Tuesday called the cash crunch in the country as a 'temporary shortage' and assured that the situati...

Healthcare startup PregBuddy secures undisclosed seed funding from Indian Angel Network

New Delhi : Focused on creating prominence in care for expecting mothers, Bengaluru based startup PregBuddy on Monday announced that it has raised an ...