COURT DENIES CARLOS GHOSN’S LATEST BAIL APPLICATION

TOKYO: Carlos Ghosn’s latest bid to be released on bail was rejected by a Tokyo court, leaving the fallen car titan behind bars for at least another two months as prosecutors continue to build their case against him for financial crimes. Ghosn’s lawyers had submitted the bail application last week after the former Nissan Motor Co. chairman was indicted for a second time, over allegations he transferred personal trading losses to the carmaker. Prosecutors have said his current period of detention lasts until March 10, but Ghosn’s chief lawyer, Motonari Otsuru, flagged last week that the executive could remain behind bars until his trial, which could be six months away. Tuesday’s court rejection is a win for the Japanese prosecutors pursuing the case, who want to keep questioning Ghosn as they firm up their case against him for an eventual trial.

Waycool raises ₹120 crore from Caspian, others

MUMBAI: Waycool Foods and Products Pvt. Ltd, which supplies food and agricultural produce, has raised ₹120 crore in equity and debt from impact investors such as Uk-based LGT Impact Ventures, Caspian Impact Investment Advisor Pvt. Ltd and Northern Arc Capital Ltd. Some angel investors also participated in the round, the Chennai-based company said in a statement on Tuesday. Waycool runs a tech-enabled supply chain platform supplying fresh produce, staples and dairy to more than 4,000 clients. The fundraise comes at a time when agriculture and food related startups are raising bigger rounds as they seek to use the latest technology and tap bigger user bases. In the last five years, these startups have raised $1.66 billion across 558 deals, according to a report by Agfunder, a Us-based farm investor, and agri-tech-focused investor Omnivore.

Indian Oil looks to raise $900 million via bonds

NEW DELHI: State-owned Indian Oil Corp (IOC) Tuesday said it will raise $900 million through an overseas bonds issue to meet its working capital requirements. In a regulatory filing, IOC said it has launched an international bonds issue of $900 million, carrying a coupon of 4.75%. The Notes are expected to be settled by January 16, 2019. “The Notes carry a coupon of 4.75% per annum payable semi-annually. The Notes will mature in 2024 and all the principal and interest payments will be made in US Dollars,” it said. IOC said the proceeds of the issue will be used to fund working capital requirements for the normal course of business.

Exports up 0.34% in Dec, trade deficit narrows

NEW DELHI: India’s exports grew marginally by 0.34% to $27.93 billion in December 2018 on account of negative growth in sectors such as engineering and gems & jewellery, according to a commerce ministry data. Imports, however, dipped by 2.44% to $41 billion during the last month, narrowing the trade deficit to $13 billion. The trade deficit stood at $14.2 billion in December 2017. Gold imports declined by 24.33% to $2.56 billion in December last year as against $3.39 billion in the same month of 2017. During April-december this fiscal, exports grew by 10.18% to $245.44 billion. Imports rose by 12.61% to $386.65 billion.

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