18 July 2019 News of the Day- Ebix to Buy Yatra for $239 m

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Here we are providing News of the Day 18 July 2019 on a daily basis. We cover the information that related to National, international. It includes news headlines, Breaking News and Today’s Top stories. It will be very helpful to the Exam aspirants to prepare the notes.

News of the Day 18 July 2019

It will be useful to Crack the exams such as Civil Service Exam, Bank exams (IBPS, SBI), SSC Recruitment Exams (CGL, CHSL), Railway Recruitment Exams, Entrance Exams and other competitive Exams conducted by state Public service commission.

GIC in Talks to Buy GVK Power’s Stake in Hotel Venture with Taj

  • Government of Singapore Investment Corp (GIC) is in preliminary talks with GVK Power and Infrastructure to acquire its stake in Taj-GVK Hotels and Resorts.
  • GIC, which already has an investment platform with Indian Hotels, a Tata Group firm, and owner of the Taj, is expected to mandate the Indian partner to run the operations.
  • Taj-GVK has a market capitalization of ₹1,182.86 crore as on Wednesday’s closing price and GVK’s stake in the firm is worth around ₹307.5 crore.

 

Ebix to Buy Yatra for $239 m

  • US software services firm Ebix has agreed to acquire Yatra Online for $239 million (₹1,645 crore) in an all-stock deal.
  • Which the companies said will offer them opportunities to expand both internationally and in India.
  • On an enterprise basis, which includes Gurgaon-based Yatra’s indebtedness and outstanding warrants, the deal values the travel services company at $337.8 million.
  • Ebix chairman Robin Raina said the acquisition would allow the company to be a market leader in providing travel services.

 

eBay Gets Back to India with 5.5% Paytm Mall Stake

  • eBay has picked up a 5.5% stake in Paytm Mall, as the San Jose-based online marketplace makes another attempt to get a slice of the Indian e-commerce market.
  • eBay said its global inventory will be available to over 130 million active users on Paytm Mall and Paytm’s app ecosystem as part of the deal.
  • This deal will also allow shopkeepers on our platform to source over a million unique international products from eBay’s global base,” Sharma said.

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Jalan Panel Wants Transfer of RBI’s Surplus Reserves Over 3-5 Years

  • A high-level committee set up by the Reserve Bank of India (RBI) on its economic capital framework (ECF) has recommended.
  •  That surplus reserves held by the central bank be transferred to the government in tranches over three to five years.
  • The government has been seeking the transfer of a substantial chunk of RBI’s ₹9.6 lakh crore reserves built up over the years.

ICJ Stays Jadhav’s Execution, Asks Pak to Review Order

  • In a major diplomatic and legal victory for India in the Kulbhushan Jadhav case, the International Court of Justice (ICJ).
  • On Wednesday directed Pakistan to review his conviction and, until then, put his death sentence on hold.
  • PM Narendra Modi welcomed the order. “We welcome today’s verdict in the @CIJ_ICJ. Truth and justice have prevailed.
  • Congratulations to the ICJ for a verdict based on extensive study of facts. I am sure Kulbhushan Jadhav will get justice. Our government will always work for the safety and welfare of every Indian,” he tweeted.

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