Business & Finance - Current Affairs for April, 2015

The iGate acquisition will help the combined entity to compete on par with the other US-based and Indian-based companies, which have a large of number of their employees based in India.

The Paradip refinery is the most sophisticated of Indian Oil's 11 plants. With the commissioning of the Paradip refinery, IOC's overall refining capacity has been increased to 1.61 million bpd, about 35 percent of the country's 4.6 million bpd capacity.

Ratan Tata becomes the first Indian to pick up a stake in China's largest smartphone maker Xiaomi. He has already made personal investments in homegrown e-commerce players like Snapdeal, Urban Ladder, Bluestone and Cardekho.com. In March this year, he also invested in mobile commerce firm Paytm.

The MoU provides for export of petroleum products from NRL’s Marketing Terminal in Siliguri to Bangladesh Petroleum’s Depot at Parbatipur in Bangladesh through the proposed ‘Indo-Bangla Friendship Pipeline.

The Tamil Nadu Government today cancelled the permission granted to Coca-Cola to set up a beverages plant at Perundruai in Erode district. The Managing Director of the state owned industries promotion corporation issued an order cancelling permission to the company, after it failed to start construction in the stipulated six months time.

Mobile Application titled WatchBanking, the move makes HDFC the first bank, and also the first Indian company to launch an app for the Apple Watch, due to launch in India later this month.

Inflation measured on Wholesale Price Index, WPI, was at minus 2.06 percent in February and minus 0.39 percent in January. It was at 6 percent in March 2014. Deflation was also visible in the manufactured products category where the rate of price rise dropped to a record low of minus 0.19 percent.

The Competition Commissioner said she had issued a statement of objection, stating that the firm's promotion of its own shopping links amounted to an abuse of its dominance in search.

Flipkart took the decision following a massive public campaign to support net neutrality in India. CEO of Flipkart said that Airtel could have compromised net neutrality in the future and company will not take part in any deal that jeopardises internet freedom.

As per MoU, Paytm will offer a virtual marketplace platform for NCTI members and will extend its services and enable them to sell online. In this regard, Paytm will set up payment gateways platform for online ticketing and membership fees for NCTI.