Top Headlines: Battle for IPL rights, India's ties with Islamic nations

Two of the world's richet men, Jeff Bezos and Mukesh Ambani are set to clash over media rights of the Indian Premier League, which has a brand value of almost $6 billion. While, India's leading broadcasters, including Disney-Star, Zee Entertainment, Viacom-18,  have urged Trai to deregulate broadcast tariff and remove restrictions on channel bundling. Read more on these in our top headlines.

Jeff Bezos, Mukesh Ambani set to battle over $7.7 bn IPL broadcast rights

Jeff Bezos and Mukesh Ambani, two of the world’s richest men, are set for another clash. This time the fight is over media rights to the Super Bowl of cricket, one of the world’s fastest-growing sporting events that draws 600 million viewers and has a brand value of almost $6 billion. The billionaires’ companies are expected to be the top two contenders at a June 12 Indian Premier League auction, which is likely to lure several bidders. Read more
 

Remove price cap and channel bundling restrictions: Broadcasters tell TRAI

The country’s leading broadcasters, including Disney-Star, Zee Entertainment, Viacom-18, Sun TV and Sony Pictures Networks India, have urged the Telecom Regulatory Authority of India (Trai) to deregulate broadcast tariff and remove restrictions on channel bundling. The broadcasters said they should be allowed to offer discounts on both a-la-carte and bouquet offerings rather than operating under a price cap on channels. Read more

Remarks on Prophet threaten to fray India's energy ties with Islamic world

Decades of energy harmony between India and Islamic nations is at stake after senior Bharatiya Janata Party (BJP) functionaries passed controversial comments on Prophet Mohammed. Perhaps what seems “unimportant” to BJP functionaries or a governor may be important for Saudi Arabia, Qatar, Iraq or Indonesia, which are the big­gest suppliers of key commodities to India. Read more 

Abu Dhabi's ADIA invests Rs 2,200 cr in IIFL Home Finance for 20% stake

Leading NBFC IIFL Finance Limited on Thursday said that its wholly-owned subsidiary, IIFL Home Finance Limited, has entered into definitive agreements for raising Rs 2,200 crore for a 20% stake from a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA). The deal completion is subject to regulatory approvals. Read more

Volkswagen plans to sell its first electric car in India in 2023

Volkswagen AG is looking to sell its first electric car, the ID.4 sports utility vehicle, in India in limited quantities next year as the South Asian nation pushes for faster adoption of cleaner vehicles. The German carmaker will begin testing the ID.4 around September for its technical capabilities and if any adaptations are needed for local weather conditions, Ashish Gupta, brand director at Volkswagen’s passenger cars division in India, said. Read more