Snapdeal offer

New Delhi, July 18: Online retailing major Flipkart is believed to have sent a revised offer of $900-950 million to buy smaller rival Snapdeal, according to sources. The Bangalore-based firm has offered to pay the said amount for buying Snapdeal's online marketplace and Unicommerce, two people privy to the development said.

Panna-Mukta

Mumbai, July 18: The Centre has informed RIL, as a part of the Panna Mukta and Tapti production sharing contracts, of its share of profit petroleum and royalty to be paid to it. However, RIL feels the demand notice is premature, a spokesperson said. The liabilities arising out of the partial award dated October 12, 2016 have to be determined by the arbitration tribunal after the parties have made their submissions on quantification. 

Daimler recall

Frankfurt, July 18: German auto-maker Daimler says it is voluntarily recalling three million diesel cars in Europe to improve their emissions performance. The recall will cover nearly all vehicles made under the EU5 and EU6 emissions standards and start in the next few weeks. The company said the recall would cost 220 million euros ($254.21 million), but that customers wouldn't pay anything. 

Telecom fee

New Delhi, July 18: Bharti Airtel and Idea Cellular today sought doubling of interconnection usage charge (IUC), a key input for mobile rates, saying that incoming calls to their networks cost 30-35 paise per minute to complete.