A judge ordered Uber Technologies Inc.’s operation in Colombia to suspend its ride-hailing business after a technology platform presented a lawsuit claiming the company was providing the service through unfair competition.

A judge at the Superintendency of Industry and Commerce, which regulates the market, ruled that Uber’s app violated competition norms, the regulator said Friday in a statement. Cotech SA, a taxi-service platform, filed the lawsuit against Uber.

The five phase polling for the 81-seat Jharkhand Assembly concluded on Friday evening with exit polls indicating a hung assembly. Exit polls predicted the Jharkhand Mukti Morcha (JMM)-led alliance in the lead, and incumbent Raghubar Das-led Bharatiya Janata Party (BJP) likely to fall significantly short of the majority mark.

The fifth and final phase of polling in 16 assembly constituencies of Jharkhand passed off peacefully, Election Commission officials said in Ranchi. An estimated 70.83 per cent of the total 40.05 lakh voters exercised their franchise till 5 pm when the polling ended, they said.

Expelled BJP MLA Kuldeep Singh Sengar will remain in jail for life for raping a woman in Unnao in 2017, a Delhi court said on Friday while sentencing him to life imprisonment.

District Judge Dharmesh Sharma also imposed an exemplary fine of Rs 25 lakh in the case and has to be paid within a month.

Bank unions have decided to join the national general strike which has been called on January 8, 2020. The strike has been called in protest against the central govt's labour policies and banking reforms, said the unions.

Central Trade Unions viz. INTUC, AITUC, HMS, CITU, AIUTUC, TUCC, SEWA, AICCTU, LPF and UTUC along with various independent Federations and Unions in different Sectors have given the call for national general strike on January 8, 2020 to protest against labour policies of the government.

Hardselling his administration's pro-business approach, Prime Minister Narendra Modi on Friday said the government is working to decriminalise provision of Companies Act to make it easier to do business in the country.

Speaking at an Assocham event, he said the recent cut in corporate tax has brought rates to all-time low for businesses.

Banking stocks, especially public sector banks including Syndicate Bank, Indian Bank, and State Bnak of India (SBI), added up to 6.2 per cent on the National Stock Exchange (NSE) on Friday after the Reserve Bank of India (RBI) decided to buy and sell bonds worth Rs 10,000 crore via open market operations.

In a statement on Thursday, the RBI said it will simultaneously buy and sell government bonds worth Rs 10,000 crore each on December 23, through Open Market Operations (OMOs).

Ratings agency ICRA expects just nine states to need Rs 70,000 crore as compensation for the shortfall in goods and services tax (GST) collection in FY20, on account of a severe dip in growth of state GST (SGST) revenues amid the slowdown.

Karnataka, Kerala, Tamil Nadu, Gujarat, Maharashtra, Haryana, Punjab, Rajasthan, and West Bengal are the nine states. The requirement for all states could be much higher.

Private sector lender IDBI Bank plans to raise up to Rs 2,000 crore in capital through tier-II bonds to enhance capital adequacy. In September, Life Insurance Corporation (LIC) of India and the Government of India (GoI) together infused Rs 9,300 crore as equity capital into the bank.

After the capital infusion, the bank has shown improvement in all prompt corrective action (PCA) criteria except profitability.

Fraud-hit CG Power and Industrial Solutions Ltd on Friday said it has appointed former Chief Justice of India T S Thakur as head of investigation to monitor the ongoing forensic investigation.

"The proposal of the Company to appoint Hon'ble Justice T S Thakur (Retd) as Head of Investigation to monitor the ongoing forensic investigation commenced by the company was accepted by Justice Thakur (Retd)," the company said in a regulatory filing.

Australian cricketer Pat Cummins became the second-most expensive player in the history of the Indian Premier League (IPL) after he was picked up by Kolkata Knight Riders (KKR) for Rs 15.5 crore during an auction held in Kolkata on Thursday. A total of 62 players were sold in the auction. This was out of a pool of 332 players in the race for 73 slots in eight IPL teams. The total money spent was Rs 140.3 crore.

Cummins, co-vice-captain of the Australian national cricket team in all formats, found himself at the centre of a bidding war involving Delhi Capitals, Royal Challengers Bangalore, and KKR.

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