Business Briefs

Business Briefs

ICICI sells asset New Delhi, Dec. 24: ICICI Bank has sold its points-of-sale terminals that accept the debit and credit card payment to First Data Corporation for $80 million (about Rs 400 crore). “First Data Corp has bought an 81 per cent stake in the POS terminal business and the total deal value is about $80 million,” according to sources in the bank. Lyondell move New York, Dec. 24: Lyondell Basell has received creditors’ support for its restructuring plan, which will help the company come out of bankruptcy. Reliance Industries is bidding for a majority stake in the firm and both companies had entered into a preliminary non-binding offer. Steel price New Delhi, Dec. 24: Tata Steel has jacked up prices by Rs 2,000 a tonne, while state-run SAIL has discontinued the discounts on steel with immediate effect on the back of rising demand. JSW Steel is also considering a similar action tomorrow. Mobile banking Mumbai, Dec. 24: The Reserve Bank of India today substantially increased the limit for mobile-banking, making it easy to transfer funds or shop for up to Rs 50,000. Meanwhile, the RBI said it would come out with its third quarter review of the monetary policy for this fiscal on January 29.