Global technology groups Tencent, eBay and Microsoft have injected $14bn into Indian e-commerce group Flipkart to face a battle with Amazon. The fundraising comes ahead of proposed deal for Flipkart to take over its biggest domestic rival Snapdeal, a plan backed by Japan’s Softbank, Snapdeal’s biggest investor. Forrester Research, which predicted that Indian e-commerce sales…
A 4.5 meter deep (15 ft), 5 meters long and 2 meters wide, a sinkhole at Chennai’s Anna Salai Road, near Church Park school, India, trapping a car and passenger bus, around 2 pm on Sunday. This could be natural sinkhole caused over hundreds of years from water forging a cavity in the chalk and then…
China HNA Group, headquartered in Haikou, Hainan, China, a large tourism and domestic airline operator chaired by Chen Feng, has struck £32.4bn ($40bn) of deals in the last two years announcing plans to buy Singapore logistics provider CWT for $1bn. CWT provides warehousing and logistics services to the commodities industry. With the acquisition of CWT,…
India’s two biggest e-commerce groups Snapdeal and Flipkart are attempting a merger engineered by Japan’s Softbank, in a bid to compete with Amazon, which is planning spend over £4.05bn ($5bn) to become India’s dominant internet retailer. SoftBank owns a 35 per cent stake in Jasper Infotech, Snapdeal’s parent company, is also in advanced talks with…