Headlines: Voda Idea Also Raises Tariffs; NoBroker becomes a unicorn

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India to release 5 million barrels of crude oil from strategic reserves

India plans to release around 5 million barrels of crude oil from its emergency stockpile in tandem with the United States, Japan and other major economies to cool prices, a senior government official said on Tuesday.

India stores around 38 million barrels of crude oil in underground caverns at three locations on the east and west coasts. Read more

IKEA Shopping Center Business to Build India’s First Shopping Center in Gurugram

IKEA’s shopping center company, one of the world’s largest, said on Tuesday it had bought land in Gurugram near New Delhi for a mall that will be the first to open in India.

Ingka Centers, which has 47 malls, themselves called “meeting places,” anchored by IKEA stores in Europe, Russia and China and considering entering North America and India, said the The estimated investment for the project was around 400 million euros ($ 450 million). ) and that construction would begin in early 2022. Read more

Vodafone Idea to increase tariffs by 20-25% from November 25, Airtel tracks

Vodafone Idea announced on Tuesday that it would increase its telecommunications tariffs by at least 20% from November 25, following the announcement made yesterday by its biggest rival Bharti Airtel.

Vodafone Idea (Vi) increases prepaid rates by 20-25% and top-up plan rates by 19-21%. The new pricing plans “will start the process of improving ARPU (Average Revenue Per User) and help deal with the financial stress facing the industry,” the company said in a press release. Find out more

Startup Proptech NoBroker Joins Unicorn Club with $ 210 Million Funding

Real estate tech startup NoBroker has raised $ 210 million in its Series E funding round led by General Atlantic, Tiger Global Management and Moore Strategic Ventures, the company said on Tuesday. This round of funding brings the total funding raised by NoBroker to $ 361 million. Read more

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