FedEx will acquire AFL, an integrated logistics services provider in Mumbai, through its subsidiary FedEx Express. Blue Dart currently leads the Rs 3,000-crore Indian air cargo market with around 45% market share. However, the cargo market is seeing intense competition with the entry of players such as Reliance. The acquisition of AFL will help FedEx step up its presence in the growing Indian market.
2. Over 10,000 autos to go off Delhi roads
from 15th Nov.
Autorickshaw in
the city were
told in
November last
year to apply
for smart card-
based permits
.
As part of the
government's
efforts to
maintain proper
records of the
three-wheelers.
Over 10,491
permit holders
failed to apply
for the same
following which
the Transport
Depart. has
decided to
cancel their
permits.
5. Tata Steel to raise $ 1 bn via DVR share
sale in December
6. FedEx to acquire AFL to step up India
play
Fedex will acquire Mumbai-based
integrated logistics services provider AFL
through its subsidiary, FedEx Express .
Blue Dart is leading the Rs 3,000-crore
Indian air cargo market with a market
share of nearly 45%.
The cargo market is seeing intense
competition with the entry of players
such as Reliance.
7. Bharti Airtel to re-brand 'Airtel'
Sunil Mittal's Bharti Airtel is
going in for a mega brand
change of Airtel for which
the company will spend Rs
300 crores globally.
The new look of the brand is
expected to have a swoosh
locked with the word Airtel.
The red colour, though, will
still be dominant in the new
brand.
Zain will be re-branded as
Airtel, but, this will be part
of a bigger brand to give a
fresh image to Airtel.