Ola to raise $500 million to fuel expansion
New Delhi
Taxi aggregator Ola is in talks with investors to raise over $500 million (about Rs 3,320 crore) to drive growth across smaller cities and compete head-on with rivals such as US-based Uber and home-grown Meru. In April this year, Ola had raised $400 million (about Rs 2,500 crore) from a clutch of investors led by DST Global. PTI
FM to embark on 4-day visit to Hong Kong, Singapore
Finance Minister Arun Jaitley will embark on a four-day visit to Singapore and Hong Kong on Thursday to address investor meets and participate in the Singapore Summit. Jaitley will deliver the keynote address at the Singapore Summit on September 18, which will deliberate on tensions in global economics, implications of the drop in energy prices, and the need for new business models. During his two-day visit to Hong Kong on September 20-21, the FM will meet investors and pitch for investment in various sectors, including smart cities. TNS
Bengaluru
Snapdeal’s FreeCharge launches e-wallet
Utility payments platform FreeCharge on Tuesday launched a digital wallet in partnership with Mumbai-based private lender Yes Bank. Online e-commerce player Snapdeal had acquired FreeCharge in a deal believed to be worth around Rs 2,800 crore earlier this year and the launch of the new wallet could be seen as a challenge to digital payments player Paytm. IANS
Mumbai/Chandigarh
ICICI Bank to offer financial services in Sewa Kendras
ICICI Bank will offer financial services in Sewa Kendras of Punjab. It has also agreed to become partners in setting up of skill development centres. This was stated after ICICI managing director and CEO Chanda Kochar met Deputy CM Sukhbir Singh Badal in Mumbai. TNS
