Transfin.
HomeNewsGuidesReadsPodcastsTRANSFIN. EOD
  1. News
  2. Explained

Axis Bank CEO Sikha Sharma To Resign In December et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Apr 10, 2018 12:51 PM 2 min read
Editorial

End of Day Wrap-up (Tuesday / April 09, 2018) #AxisBank #CEO #ShikhaSharma #Ola #Foodpanda #JetAirways #AirIndia #SaudiArabia #Tadawul #Aramco #JackMa #China #tariff #automobile #Transfin

Editor's comment: Axis Bank CEO Shikha Sharma to resign in December cutting short her 4th term to six months. This is after RBI asked Bank’s board to reconsider three-year extension given to Sharma. She will leave office in December 2018 now, instead of May 2021.

 

Ola after its purchase of food ordering app Foodpanda, has held talks to buy private label food firms. Ola is seeking to set-up an independent food technology company.

 

Jet Airways decides not to participate in the bid for a stake in Air India. The move comes four days after IndiGo’s decision to back out of bidding. Although Jet Airways never really announced its interest in Air India, but had held discussions with its alliance partners.

 

Saudi Arabia’s stock exchange Tadawul experiences influx of foreign funds prior to listing of state energy company Aramco. Tadawul is enabling itself to host Aramco as the local market’s total capitalization is just USD500 billion and Riyadh eyes Aramco IPO proceeds of USD100 billion.

 

Jack Ma’s Ant Financial Services Group, carved out of Alibaba Group Holding Ltd. is preparing to raise USD9 bn in a private funding round. The latest funding round could value Ant at close to USD150 billion.

 

Chinese President Xi Jinping promises to open country’s economy further and lower import tariffs on automobile and some other products. This comes amid rising trade tensions between China and the United States.