Current Affairs Business

  The Securities and Exchange Board of India has announced a new mechanism to reward insider trading informants to uncover insider trading cases. The reward would be 10 per cent of the money collected, subject to a maximum amount of Rs 1 crore. These benefits would only be available to individuals and corporates. This is not applicable for professionals like auditors who are duty-bound to report any wrongdoing. The above announcement is a part of the detailed set of rules for the new ‘Informant Mechanism’ under Prohibition of Insider Trading Regulations that has been approved by the SEBI board. SEBI will also establish an Office of Informant Protection, which will be responsible for the receipt, registration and processing of the disclosure form and also for ascertaining its authenticity.
Source: The Hindu

  Bengaluru based Housing startup “Grexter Living” which is a co-living provider, has acquired i2Stay. It has also taken over some built-to-suit projects which i2stay has been working on. Post the acquisition, CEO of i2stay, Rajasekhar Gowreneni, will join Grexter Living as the managing partner for South India.
Source: The Economic Times

  Securities and Exchange Board of India has approved Singapore Stock Exchange and National Stock Exchange of India Ltd to operate jointly in Gujarat International Finance Tec-City, Gandhinagar. The two entities will create a new platform for trading called NSE International Financial Service Centre (IFSC)-SGX Connect. The new platform will allow trading in Nifty index derivatives, as well as single-stock derivatives of Nifty’s 50 constituent.
Source: The Live Mint

  Microsoft has acquired data privacy, governance service firm BlueTalon. BlueTalon helps enterprises set policies for how their employees can access their data. BlueTalon works with leading Fortune 100 companies to eliminate data security blind spots and gain visibility and control of data.
Source: The Times Now

  Apple has announced the acquisition of chip-maker Intel”s smartphone modem business for $1 billion. This agreement enables to focus on developing technology for the 5G network while retaining critical intellectual property and modem technology. Intel had been working on a chipset for the iPhone maker, with the chip expected to be part of iPhones by 2020.
Source: The DD News

 The Digital Communications Commission (DCC) approved the cumulative penalty of Rs 3,050 crore on Bharti Airtel and Vodafone Idea. The penalty was imposed byTelecom Regulatory Authority of India (TRAI) for not providing points of interconnection to Reliance Jio when it entered the market.
Source: The Hindu

  International Business Machines Corp acquired a software company Red Hat Inc in $34 billion for ramp up its cloud computing business. This is company’s biggest acquisition in its more than 100-year.
Source: The Times of India

 The Institute of Company Secretaries of India has rolled out an initiative a Unique Document Identification Number to pursue heightened sense of self-governance and strengthen the practising side of company secretaries. UDIN will provide ease of maintaining register of attestation and certification services. The ICSI functions under the Ministry of Corporate Affairs.
Source: The Economics Times

  Walmart Labs has acqui-hired health tech startup FloCare and B2B wholesale trading platform BigTrade. The aim of acqui-hiring is to strengthen its customer service. As per the process, some founders and team members of the two companies will join Walmart Labs in the customer and supply chain technology teams. Acqui-hires are typically made for the skills of the team, rather than for the product.
Source: The Live Mint

 Online grocery delivery platform Milkbasket has acquired Bengaluru-based e-grocery distributor PSR Supply Chain. Founded in early 2015, Milkbasket has built a new-age technology platform to enable a smooth grocery buying experience online.
Source: The Live Mint

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