Sikri takes over as new CCI chairman.
Former Gujarat cadre IAS officer Devender Kumar Sikri has taken oath as the Chairman of Competition Commission of India, an official statement said. Mr. Sikri, a 1975 batch IAS officer, replaces Ashok Chawla who demitted office on January 7 and will be the third chairman of the CCI.
Government to amend mining law.
The government will amend the mining law in order to facilitate transfer of mines allotted for captive use to end-user industries and to unlock thousands of crore worth of investments stuck in debt-laden minerals and commodities sector, according to the Mines Ministry.
Electrolux CEO to step down after failed deal with GE.
Swedish home appliance maker Electrolux said its CEO, Keith McLoughlin, would retire and be replaced by Senior Executive Jonas Samuelson, just a month after the biggest deal in the company’s history collapsed.
Mohandas Pai, Ranjan Pai-backed fund invests in SavvyMob.
Aarin Capital, run by former Infosys Director TV Mohandas Pai and Manipal Group scion Ranjan Pai, has led a seed investment round in SavvyMob, which offers an app to book hotels. Angel investors from online funding raising platform LetsVenture also participated in this round.
SEBI lowers MF exposure limits.
As part of its attempts to make mutual funds reduce their exposure to one issuer or a sector in the debt schemes, the capital markets regulator Securities and Exchange Board of India (SEBI) has lowered the exposure cap for such investments by mutual funds.
E-governance: Transactions double in 2015.
Transactions related to e-governance in the country almost doubled in 2015, Telecom Minister Ravi Shankar Prasad said. “According to the government website, electronic transaction aggregation and analysis layer (eTaal), 3.53 billion transactions took place in 2014 which almost doubled in 2015 to 6.95 billion…this shows Indians’ drive for technology,” the Minister said at a conference organised by industry body FICCI.
China’s Wanda buys ‘Batman’ trilogy production house.
Wanda Group said it is buying Hollywood’s Legendary Entertainment, the maker of films such as Batman, for $3.5 billion in the first Chinese acquisition of a major U.S. film company.
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