ENS Economic Bureau

Ansal U-turn on loss of cheques: PDCs issued, regret error

The Indian Express has also accessed the Debenture Trust Deed signed between IL&FS Trust Company Ltd, Ansal Hi-Tech Townships Ltd, Ansal Properties and Infrastructure Ltd and Sushil Ansal and Pranav Ansal (promoters of Ansal Group) among others on June 18, 2014.

Air India regional director suspended for ‘shoplifting’ at Sydney duty free outlet

As per reports, the suspended commander has been flying with Air India for over three decades and comes from a family of pilots.

Many nations offer India GSP benefits, but US move will affect competitiveness

Within the group of countries that provided GSP benefit to India, exports to EU nations were highest, followed by the US, Japan, Russia and Australia, respectively.

Ahead of Budget, PM Modi meets economists & industry experts

The theme of the meeting, organised by government think-tank NITI Aayog, was ‘Economic Policy — The Road Ahead’.

Puri inaugurates central command centre for air traffic flow management

The minister said the defense forces will also use this system. “All platforms in the air, whether they are fixed wing or rotor craft, etc., are all part of this safety and integrated airflow management system,” he added.

Indian carriers to avoid flying in affected areas of Iran airspace

Air India’s Chairman and Managing Director Ashwani Lohani said that there will be no substantial effect of this on the flag-carrier’s flights but the airline was assessing the rerouting of incoming flights.

Sensex plunges 407 pts on US-Iran tension; gold surges to 6-yr high

Gold prices rose to a six-year high of $1,415.40 in August futures in overnight trading. Silver prices hit a nearly three-month high overnight. Safe-haven demand heading into a very uncertain weekend is featured in the precious metals markets.

No goals can be achieved if states and Centre don’t work in cohesion: FM

Delhi Finance Minister Manish Sisodia on Friday said the Capital has been getting only Rs 325 crore for the last 18 years from central taxes, whereas the share should be at Rs 6,000 crore. He sought a rise in the grant to and creation of a separate fund for Delhi municipal corporations on the lines of other state civic bodies.

GST Council meet: Extension to NAA, annual return filing deadline

The Council also approved allowing Aadhaar as a document for registration under GST, while referring the legal view regarding levy of taxation on lottery to the Attorney General (AG) since some cases disputing the levy are pending in courts.

NCLT okays common RP for RCom, two arms

According to the proceedings, the majority of the committee of creditors (CoC) across the three firms independently voted to appoint Anish Nanavati as the RP to replace the existing interim resolution professionals (IRP).

M&M Fin sells 49% in AMC arm to Canada firm for $35 mn

“Currently, our market share in the mutual fund business is nearly 4 per cent and we look to grow and add new segment of investors,” said Ashutosh Bishnoi, managing director and CEO, Mahindra AMC.

Apart from ban, IFIN auditors may also face asset freeze

Apart from the assets of the two audit firms, the petition also seeks to freeze the assets of the individual auditors of the team who worked on the IFIN accounts — Udayan Sen, Kalpesh Mehta, and Sampath Ganesh. The petition also seeks to freeze the assets of IFIN’s chartered accountant, AP Shah & Associates.

Stop giving advice which is not in spirit of law: Goyal to industry

The minister’s statement assumes significance as brick-and-mortar stores have for long accused e-tailers like Amazon and Flipkart for violating the FDI rules through predatory discounts, even though the FDI policies on e-commerce strictly bar online market places from offering discounts themselves.

Etihad conditions for Jet Airways not feasible: SBI

“Subsequent to the closure of the bidding, as no binding bids were received, discussions were held with Etihad (EY) and other prospective investors to find a way for infusion of funds. Etihad had sought certain relaxations viz. waiver of open offer, assurance of flying slots etc,” it said.

Clear evidence of economic activity losing traction: Shaktikanta Das

According to Das, CPI inflation in April 2019 remained unchanged at the previous month’s level of 2.9 per cent, though there were significant compositional shifts.

NCLT admits insolvency plea against Jet Airways; shares zoom over 137% intra-day

The stock spurted 186 per cent to hit an intraday high of Rs 77.35 after hitting a record low of Rs 27 (down 33.1 per cent intra-day) in the morning session on the BSE. The stock ended the day at Rs 64.00, up Rs 30.90 or 93.35 percent on the BSE.

L&T gets 3 seats on Mindtree’s board

Proposal cleared by nomination and remuneration committee and the board will now be put to vote for shareholders at the firm’s annual general meeting.

Amid JLR woes, Moody’s downgrades Tata Motors

The ratings agency downgraded the CFR of TML and the company’s senior unsecured instruments rating has been downgraded to Ba3 from Ba2 and stated that the outlook remains negative

Sensex soars 489 points as dovish Fed lifts global markets

Hopes of a breakthrough in US-China trade talks also boosted the sentiment.

Lacks rigour, simplistic: PM advisory team rejects ex-CEA GDP downgrade

The EAC note states that the former CEA used 17 indicators and a majority of these were taken directly from Centre for Monitoring Indian Economy (CMIE), a private agency that is not a primary source of information but collects it from different sources.