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19-November-2018
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 Indian Economy
 
SnapFact: India’s green reforms may have hurt environment
Across the world, and especially in India, mining is a controversial industry. Mines damage environment and displace people. To quell these costs, the centre has established an environmental clearance process where mining projects require approval. In 2006, to strengthen this process and make rules ...

Government should stick to fiscal deficit target, continue reforms: Arvind Panagariya
The Centre should stick to the fiscal deficit target for 2018-19 and continue with the reforms undertaken during the over four years of the Narendra Modi-led government, former Niti Aayog Vice Chairman Arvind Panagariya said Sunday. The present government, Panagariya said, has made a huge progress i...

Officials restricting supply of domestic goods for public procurement to face action
To promote made in India goods in public procurement, the government will take action against officials who would be held responsible for including restrictive or discriminatory norms against domestic suppliers in bid documents, an official said. Amending the Public Procurement (Preference of Make i...

The financial closure of projects is tough now, says Nitin Gadkari
The tough policy stance taken by the RBI is making it difficult for investors to secure funding for major infrastructure projects, said road transport and highways minister Nitin Gadkari. In an interaction with ET’s Bodhisatva Ganguli at the ET Awards for Corporate Excellence, Gadkari said that arou...

358 infra projects show cost overruns of over Rs 3.37 lakh crore
As many as 358 infrastructure projects, each worth Rs 150 crore or above, have shown cost overruns to the tune of over Rs 3.37 lakh crore owing to delays and other reasons, a report said. The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and ...

 
 Global Economy
 
Israeli Economy Grows 2.3%, Reflecting Global Deceleration
Israel’s economy grew 2.3 percent in the third quarter of the year, far slower than the strong expansion seen in the second half of 2017 but more in line with its long-term potential, economists said.The data came in below the median expectation for 3 percent growth in a Bloomberg survey, and the f...

UK to introduce 2-year accelerated degree courses at British universities
Two-year accelerated degree courses are to be introduced at British universities, Universities Minister Sam Gyimah announced on Sunday. The move will mean hundreds of thousands of prospective students being handed more choice than ever before over what they can study at a university with the expansi...

Technology investors fear increased regulation of US tech companies
Increased regulation of US technology companies is one of the biggest risks to a sector that has led stocks higher, potentially derailing the market's near-decade-long bull run if it suffers a sustained sell-off. The S&P 500 tech sector has risen 5 per cent in price terms this year, outpacing the S&...

Putin says oil at $70 suits Russia, will cooperate with Saudi on output cut
Russian President Vladimir Putin said on Thursday that the price of oil at $70 per barrel "suits" Moscow, while promising to "cooperate" with Saudi Arabia's call to cut output in an effort to bolster prices. "The situation as it is now, at around $70 (per barrel), suits us completely," Putin said a...

 
 Market & Finance
 
India’s return is partly a story of currency recovery: Adrian Mowat
This really goes back to what happened in the bond markets in September. We had a big move up in bond yields in September. This sort of volatility shock went through risk assets and that is still playing out with some heavily owned positions like tech. We have also had some very specific issues in t...

Bitcoin sinks to new 13-month low
Bitcoin slumped to a new 13-month low on Monday, with the biggest cryptocurrency touching $5173.23 on the Bitstamp platform BTC=BTSP. Bitcoin was last down 5.2 percent at $5270. The cryptocurrency, and other lesser coins including ethereum and XRP, endured a sell-off last week, with some blaming fea...

Bonds Face Barrier in India as Banks Sell Into Every Rally
India’s sovereign bonds face a conundrum. Every rally hits a wall of selling as the nation’s state-owned lenders, the biggest holders of debt, head for the exit. Public-sector banks have cut holdings by a net 290 billion rupees ($4 billion) this quarter, even as sovereign bonds are poised for their ...

Asia shares edge ahead, Fed caution drags on dollar
Asian shares inched cautiously higher on Monday amid conflicting signals on the chance of a truce in the Sino-U.S. trade dispute, while a new-found air of concern on the global outlook at the Federal Reserve undermined the dollar....

FPIs invest over $1 bn in Nov so far on easing oil prices, rupee recovery
Foreign investors have pumped in nearly Rs 82.85 billion into the Indian capital markets so far this month, after pulling out hefty funds in October, due to fall in crude oil prices, recovery in rupee and improvement in the liquidity situation. The recent infusion comes following a net outflow of mo...

Investment via P-notes hits over 9-year low in Sept
Investments in the Indian capital market through participatory notes (P-notes) hit a nearly nine-and-a-half year low of Rs 79,548 crore till September after registering a rise in such fund infusion in the preceding month. P-notes are issued by registered foreign portfolio investors (FPIs) to oversea...

 
 Commercial Laws
 
CIA findings premature, report by Tuesday, says Trump
US President Donald Trump has said he had spoken with the CIA chief on the agency’s assessment of the killing of Jamal Khashoggi and that there will be a “very full report” by Tuesday, amid reports that the CIA had held powerful the Saudi crown prince responsible for the murder of the dissident jour...

 
 
 
 RBI
 
RBI net sells $18.66 billion between April-September
The Reserve Bank of India (RBI) net sold $18.662 billion of the greenback in the spot market, during the first seven months of the current financial year, according to RBI data. In the same period last year, RBI was a net purchaser of the greenback, as it had bought $16.301 billion. In September, 20...

 
 SEBI
 
SEBI seeks RoC stamp for IPO prospectus
In a bid to cut down on the time taken for listing of shares via an Initial Public Offering, SEBI is in discussions with the Ministry of Corporate Affairs to make it mandatory for the Registrar of Companies (RoC) to approve or reject the prospectus filed by companies within a specific time period. C...

 
 
 
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 Indian Corporate
 
Spectrum sharing may help telecom firms shift to 5G in India
The much-anticipated fifth generation (5G) networks are expected to roll out across the world by 2020, and are expected to offer faster speeds and more reliable connections, thus powering Internet of Things (IoT) devices. Some estimates peg 5G data rates to reach a peak of 20Gbps (gigabits per secon...

JSW Steel to invest over Rs 5,000 cr on strengthening downstream manufacturing capacity
JSW Steel plans to pump in over Rs 5,000 crore to strengthen its downstream manufacturing capacity and is also keen to pursue stressed downstream assets that will come up for bidding in the next round. JSW Steel, which announced a capex investment programme of nearly Rs 45,000 crore to expand its ca...

SpiceJet turnaround comes apart as oil prices rise
While SpiceJet’s managing director Ajay Singh has been credited with turning around SpiceJet, which he took over from the Marans in January 2015, the September quarter has been one of the worst for the low-cost carrier. SpiceJet reported a stinging loss of Rs 389 crore in Q2FY19, following from a lo...

India Inc profit forecasts cut on weak Q2 results; these two blue-chip firms take the biggest hit
Following India Inc’s less-than-ordinary performance in the three months to September, earnings for both 2018-19 and 2019-20 have seen downgrades. Analysts have lowered their forecasts for the Nifty earnings by about 4-5% with the biggest cuts for Tata Motors and Vedanta. Only a handful of companies...

 
 Global Corporate
 
Cognizant says growth will accelerate to 7-11% in midterm
Cognizant said midterm growth will accelerate to 7-11% in constant currency terms and the US-listed company expanded its buyback authorisation to $5 billion. The Teaneck, New Jersey-headquartered company held its first investor day last Friday, spelling out its goals for the next three to five years...

 

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