Top headlines: SpiceJet scouting for funds; markets may fund road projects

Govt to approach capital mkt next month to raise funds for 4 road projects

Road Transport Minister Nitin Gadkari on Tuesday said the government will approach the capital market next month to raise funds for four road projects. The money will be raised through Infrastructure Investment Trusts (InvITs), and there will be an investment limit of Rs 10 lakh for retail investors, he added. Read more

SpiceJet exploring stake sale to raise Rs 2,000 cr, says CMD Ajay Singh

SpiceJet is currently exploring multiple options, including stake sale to other airlines, to raise up to Rs 2,000 crore, its CMD Ajay Singh said on Tuesday. The airline is looking to raise “investments from external parties, including airlines”, he said on the sidelines of an event of industry body ASSOCHAM. Read more

Apple planning for 'made in India' iPhone 14 by Diwali 2022: Details here

Apple Inc. plans to begin manufacturing the iPhone 14 in India about two months after the product’s initial release out of China, narrowing the gap between the two countries but not closing it completely as some had anticipated. The company has been working with suppliers to ramp up manufacturing in India and shorten the lag in production of the new iPhone from the typical six to nine months for previous launches, according to people familiar with the matter. Read more

Supreme Court rules that benami law cannot be applied retrospectively

The Supreme Court (SC) on Tuesday ruled that the Benami law can only be applied prospectively and not retrospectively, and held section 3(2) of the Act “unconstitutional”. Several businesses have been awaiting this verdict on the Benami Transactions (Prohibition) Amendment Act, which came into effect on November 1, 2016. Read more