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 Indian Economy
Apr-Oct trade deficit soars 60% to $88 billion: Report
Trade deficit has ballooned to USD 88 billion between April and October, up 60 per cent from the comparable period a year ago due to weak exports and a sharp rise in imports, says a report."The problem is two-fold; weak export growth of 9 per cent year-on-year, coupled with a sharp 23 per cent rise ...

Modi's Make in India may get $6 billion cheque from Lotte, Peugeot
South Korean conglomerate Lotte Group and French automotive group Peugeot SA have discussed proposals to invest as much as $6 billion combined in India, a move that would boost Prime Minister Narendra Modi’s attempts to attract foreign capital in Asia’s third-largest economy, a person with direct kn...

Economy slowdown bottomed out, recovery rests on government steps:Report
The slowdown in the economy has bottomed out, and going forward, the pace of recovery will depend on initiatives the government takes to boost growth momentum, especially private investment, says a report."There has been improvement on some parameters in the recent period, and we hope that the rebou...

Coal-based plants: ‘Stranded power unit debts may touch Rs 5L cr if left unaddressed’
Debt of coal-based power plants may nearly treble in three years to Rs 5 lakh crore if the issue of stranded electricity generation units is not addressed urgently, NITI Aayog chief executive officer Amitabh Kant said on Wednesday. Inaugurating the 20th India power forum here, Kant said the industry...

India GDP growth rate in Q2 likely at 6.2-6.3 pct: NITI Aayog VC Rajiv Kumar
The Budget for 2018-19 should focus on the social sector and an attempt should be made to provide universal health insurance cover to citizens. In an interview with Prasanta Sahu and Saurabh Kumar, NITI Aayog vice-chairman Rajiv Kumar says the think-tank can play a role similar to the GST Council fo...

 Global Economy
Zimbabwe's economic situation 'very difficult': IMF mission chief
Zimbabwe’s economic growth is threatened by high government spending, an untenable foreign exchange regime and inadequate reforms, a senior International Monetary Fund (IMF) official said.Zimbabwe was once one of Africa’s most promising economies but suffered decades of decline as former President R...

Singapore Q3 GDP growth quickest in almost four years, raises tightening prospects
Singapore’s economy grew at its quickest pace in nearly four years in the third quarter, thanks to a boom in manufacturing that some analysts say will encourage tighter monetary policy next year.Thursday’s revised official numbers beat the market’s already buoyant expectations, and prompted the gove...

Fed policymakers say rate increase likely warranted soon - minutes
Many Federal Reserve policymakers expect that interest rates will have to be raised in the “near term,” according to the minutes of the U.S. central bank’s last policy meeting released on Wednesday.The readout from the Oct. 31-Nov. 1 meeting, at which the Fed kept rates unchanged, also showed polic...

Euro zone business roars as Germany leads the pride
Euro zone business growth is roaring ahead as the year draws to a close, surveys showed on Thursday, supporting the European Central Bank’s move last month to announce a throttling back of its monetary stimulus.Surveys covering both the services and manufacturing industries outshone even the most op...

 Market & Finance
Retail investors push equity mutual fund inflow to Rs 16,000 crore in October
Equity mutual funds registered an inflow of over Rs 16,000 crore in October, buoyed by strong participation from retail investors, latest data with industry body Amfi showed.This has taken the total inflow into such funds to over Rs 96,000 crore in the first seven months of the ongoing financial yea...

Moody’s upgrades outlook on India Inc
Rating agency Moody’s sees an improvement in the credit profiles of India Inc next year, driven by better sales as it expects GST-related disruptions to wane,leading to an all over recovery in economic activities.It can be recalled that for the first time in almost 14 years, over the past weekend, M...

 Commercial Laws
Insolvency code tweaked: Here’s what it means for loan cheats
With President Ram Nath Kovind giving nod to the ordinance to amend the Insolvency and Bankruptcy code, India’s mighty law to deal with bank defaults, wilful defaulters, like Vijay Mallya, will be barred from bidding for stressed assets. “The Ordinance aims at putting in place safeguards to prevent ...

 Direct Tax
Govt sets up task force to review income tax laws
After overhauling indirect taxes, the government today formed a task force to draft a new direct tax law to replace the existing Income Tax Act, which has been in force since 1961.Eight years after he first helped draft a new direct tax code for India, top taxman Arbind Modi has been asked to do the...

IT, ITeS companies jittery over Rs 10,000 crore tax demand
The tax department has raised service tax demand of about Rs 10,000 crore from information technology and IT-enabled services companies in the country, sending a shock wave through an industry already reeling under tighter US immigration laws and increasing automation.In its notices sent to about 20...

RBI's Forex Book Holds Clues to Fate of Open-Market Bond Sales
Is the Reserve Bank of India done with its open-market bond sales to suck out liquidity?The biggest decline in benchmark yields in a year on Monday in reaction to the RBI canceling a debt sale would seem to suggest that, but traders should keep an eye on the central bank’s forward dollar book for cl...

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Trade Facilitation Notice No. 01/2017
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 Indian Corporate
Indian Companies Remain Stressed But Ability To Service Debt Improves
Corporate balancesheets in India remains stressed but the ability of companies to pay interest on loans improved slightly in the quarter ended September.According to Credit Suisse’s Corporate Health Tracker report dated November 17 , the share of debt held by companies with interest coverage ratio o...

Quikr valuation hits $1 bn see what caused this whopping surge
The valuation of online classifieds portal Quikr has surged to $1 billion for the quarter ended September, according to the quarterly financial report published by its Swedish investor Kinnevik AB. The bounce back in terms of valuation is largely due to the platform generating 12.4 million responses...

Everstone acquires Malaysia-based Chemopharm
The corporate affairs ministry has approved filing of prosecution cases by the SFIO against defaulter businessman Vijay Mallya and others in the Kingfisher Airlines matter, a senior government official said on Wednesday. In its detailed report on the matter submitted to the ministry recently, the Se...

Hike, Airtel Payments Bank tie-up for mobile wallet
Messaging app Hike today said it has tied up with Airtel Payments Bank to power its mobile wallet product.Hike users will have access to the bank’s vast product line including merchant and utility payments, it added.The SoftBank-backed app, which has over 100 million registered users, saw over 30 pe...

Apex court restrains Jaypee directors from alienating properties
The Supreme Court today directed 13 directors, including five promoters of embattled Jaiprakash Associate Limited, not to alienate their personal properties and asked the firm to deposit Rs. 150 crore and Rs. 125 crore by December 14 and December 31 respectively.The bench accepted a demand draft of ...

 Global Corporate
German industrial giant Thyssenkrupp posts huge loss
German industrial giant Thyssenkrupp today posted an annual loss of 649 million euros (USD 768 million) for the year ending September, due mainly to a one- off charge related to the sale of Brazilian steel mill CSA. Thyssenkrupp, which makes products ranging from submarines to car parts to elevator...

Iraq, GE Sign $400 Million Deal for Power Infrastructure
Iraq and General Electric have signed a deal to develop Iraq's power infrastructure, which would help bring much-needed electricity to areas facing significant shortages across the country.GE says in a statement released Wednesday that the more than $400 million contract will help building 14 electr...

Huawei trails Xiaomi, Oppo, Vivo, but makes this big statement on India gameplan
Though Huawei’s smartphone brand Honor lags its peers, especially Chinese brands such as Xiaomi, Oppo and Vivo, in India, its president of consumer business group (India) Peter Zhai is confident about the group’s growth trajectory in the Indian market. Huawei, the third-largest smartphone vendor glo...


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