The mega-merger deal of Idea Cellular and Vodafone India may not meet the expected June 30 timeline as the telecom department is looking to raise a fresh demand of around Rs 4,700 crore, a source said.

The demand will be raised from Vodafone India before its merger with Idea Cellular.

China, India and South Korea, which are the three biggest Asian markets, excluding Japan, have seen erosion in market capitalisation of $1.4 trillion this year, so far. On the other hand, developed markets such as the US, the UK and France have fared much better, signalling global funds could be shifting their preference away from riskier emerging markets.

While the bulk of the erosion in the Asian markets is on account of China, India and South Korea too have lost significant ground, particularly in dollar terms.

The government on Saturday appointed Arijit Basu as managing director of the country’s largest lender State Bank of India. He will fill the position that fell vacant following the elevation of Rajnish Kumar as the chairman. Now, after this, the SBI will have four managing directors. As per the SBI Act, the bank can have four managing directors.

Joining the likes of Google and Apple, Microsoft has launched Microsoft News – a news engine that curates articles from across the web and delivers them to the users’ Microsoft feed, the media reported. The newly redesigned app for iOS and Android platforms would also power news on “Microsoft Edge”, the News app in Windows 10, Skype, Xbox and Outlook.com.

Nearly two dozen Air India flights were delayed across its network including at IGI Airport here today after a technical glitch in the check-in software hampered operations, an airline spokesperson said. The departure timings of as many as 23 flights were affected and the delays owing to the software malfunction stretched from 15-30 minutes, the spokesperson said.

Riding on strong financial performance and disruptive technologies, global software major Infosys is betting on digital strategy to spur growth in the exciting times, said its co-founder and Chairman Nandan M Nilekani on Saturday.

"We are at an exciting juncture in the journey of our industry. I have never seen as many possibilities to partner with and grow along with our clients as I see today.

Volvo Cars has announced that, from 2025 onwards, at least 25% of the plastics used in every newly launched Volvo car will be made from recycled material. The company has also urged auto industry suppliers to work closely with car-makers to develop next-gen components that are as sustainable as possible, especially with regards to containing more recycled plastics.

Lenders led by Axis Bank have put on sale Lanco Kondapalli’s 1476-megawatt (MW) gas power plant in Andhra Pradesh, according to sources. The plant’s debt to lenders stood at Rs 3,503 crore at the end of FY16.

Emails sent to spokespersons at Axis Bank and the Lanco Group did not elicit responses till the time of going to press.

The Securities Appellate Tribunal (SAT) has directed the Securities and Exchange Board of India (Sebi) to conduct a fresh probe into the acquisition of Network18 Media & Investments by Reliance Industries Ltd (RIL) through its subsidiary Independent Media Trust (IMT).

In a 19-page order released on Friday, the tribunal pulled up Sebi for not following the instructions it gave on this in an order dated April 13, 2016.

In a step that is beneficial to India, the Organization of Petroleum Exporting Countries (Opec) decided to raise its output at a meeting held in Vienna on Friday.

Though the producer group did not specify the increase, it may be in the range of 1 million barrels per day (bpd), or 1 per cent of the global supply.

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