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  Route Mobile Limited (Route Mobile), a cloud-communication platform service provider and a member of Oracle Partner Network (OPN) announced the collaboration with Oracle Marketing Cloud, part of Oracle Customer Experience (CX) Cloud Suite, which empowers organizations to take a smarter approach to customer experience management and business transformation initiatives. This collaboration between Route Mobile and Oracle Marketing Cloud enables companies to leverage Route Mobile’s quality connections for mobile customer engagement over SMS.
Source- ANI News

   Noida-based IT major HCL Technologies will acquire seven IBM products by mid-2019 for $1.8 billion (over Rs 12,700 crore) in its biggest ever acquisition so far. The all-cash deal entails software in areas including security, marketing, collaboration solutions, and represents a total addressable market of over $50 billion. The deal includes the transfer of some IBM employees as well.
Source: The Hindu, India’s largest online marketplace for financial products has launched an industry-first feature that will help loan applicants choose their most-suited lender on its platform. Named ‘Chance of Approval’, this advanced predictive algorithm has been created by by using the last four years of lending data. While this is the first such initiative in India, globally a few leading players, like Credit Karma in the US, have developed similar features to improve the acceptance rate on their platforms.
Source: The Business Standard

 FMCG major Hindustan Unilever Limited (HUL) announced that its board has approved the merger with GlaxoSmithKline Consumer Healthcare (GSKCH India)through an-all equity deal, valuing the total business of the latter at Rs31,700 crore. The transaction is an all-equity merger with 4.39 shares of HUL being allotted for every share in GSKCH India, which sells consumer healthcare products, including popular drink brand Horlicks. Post the acquisition, the turnover of the company’s Foods and Refreshment (F&R) business will exceed Rs10,000 crore.
Source- The Hindu

 Naval exercise between India and the United Kingdom, KONKAN held in Goa this year. Both Navies have, over the years, undertaken bilateral activities such as training exchanges and technical cooperation. The Bilateral KONKAN exercise provides a platform for the two Navies to periodically exercise at sea and in harbour, so as to build interoperability and share best practices.  The KONKAN series of exercises commenced in 2004, and since then has grown in scale. The Royal Navy will be represented by HMS Dragon, a Type 45 Class Destroyer equipped with an integral Wildcat helicopter. The Indian Navy will field INS Kolkata, the first ship of latest Kolkata class destroyers, equipped with integral Seaking and an IN submarine. In addition, IN maritime patrol aircraft, Dornier will also participate in the exercise.
Source: Press Information Bureau

 Paytm (One 97 Communications Limited) has partnered with the Life Insurance Corporation of India (LIC) to offer online insurance premium payments on its platform. Softbank-backed Paytm will provide premium payment solutions from over 30 insurance companies including LIC, ICICI Prudential Life, Reliance Life, and Max Life Insurance among others.
Source: The Economic Times

 Online fashion retailer Myntra will integrate its sister firm Jabong with itself and the integrated firm will continue to be led by Myntra CEO Ananth Narayanan. The two will, however, continue to operate as separate brands. Flipkart had acquired Myntra in 2014 and Myntra had acquired Jabong in 2016. The company said since Myntra’s purchase of Jabong, the two brands have been steadily integrating key business functions and streamlining processes.
Source- The Livemint

  The Reserve Bank has liberalised the norms governing foreign borrowings for infrastructure creation “in consultation with the Government”. As per the notification, the minimum average maturity requirement for ECBs (external commercial borrowings) in the infrastructure space raised by eligible borrowers has been reduced to three years from earlier five years. Additionally, the average maturity requirement for mandatory hedging has been reduced to five years from earlier ten years. The move comes amid concerns surrounding the availability of funds following a liquidity squeeze and the difficulties being faced by non-bank lenders, especially those facing asset liability issues due to heavy reliance on short-term funding for long-term assets.
Source- The Hindu Business Line

 In a first for India, HSBC Holdings Plc has executed a trade finance transaction using blockchain for an export by Reliance Industries Ltd (RIL) to US-based Tricon Energy. The blockchain-enabled letter of credit (LC) transaction substantially reduced the time taken for such deals. The use of blockchain offers significant potential to reduce the timelines involved in the exchange of export documentation from the extant 7-10 days to less than a day. The transaction allowed a digital transfer of the title of goods from the seller to the buyer.
Source- The Livemint 

NIIF Acquires IDFC Infrastructure Finance  The National Investment and Infrastructure Fund (NIIF) has acquired IDFC Infrastructure Finance (IDFC-IFL), an infrastructure debt fund. This acquisition is the first investment from NIIF’s strategic fund. The acquisition is subject to approval from RBI. IDFs are investment vehicles for channelling investment into India’s infrastructure sector. IDFC-IFL, with a loan book of Rs 4500 crore, lends to operating infrastructure projects, helping original project financiers to recycle their capital following the commencement of operations.
Source- The Economic Times 


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