Today Sector News – 20.07.2018
* AUTOMOBILE: Honda Cars India has launched Jazz with advanced features, in both petrol and diesel variants with manual transmission. Suzuki Motorcycle India said it will invest around 6 bln rupees to build a second plant in two years.
* AVIATION: Air India has realised 7.24 bln rupees by monetising some of its assets and the proceeds are being used to reduce the airline's debt, Minister of State for Civil Aviation Jayant Sinha told Lok Sabha in a written reply.
* BANKING: Chief Economic Adviser Arvind Subramanian said there was a period in the recent past when the Reserve Bank of India should have cut interest rates.
* CEMENT: JSW Cement will invest $150 mln to set up a clinker unit and a captive power plant at Fujairah in the United Arab Emirates.
* COMMODITIES: The farm ministry has asked Directorate General of Foreign Trade to increase export incentives on milk, milk products, and casein to 20% from 10% to boost exports and support domestic prices, Farm Minister Radha Mohan Singh said. The strike by Swabhimani Shetkari Sanghatana that had cut milk supplies to Mumbai, Pune and other cities from Monday is likely to end after the state government agreed to some demand of the farmers' union.
* EXCHANGES: Brokers on equity derivatives markets are locked in combat with the National Stock Exchange over levy of securities transaction tax following the introduction of physical settlement of trades.
* INFRASTRUCTURE: Construction giant Shapoorji Pallonji Group and global insurance major Allianz are jointly set to acquire WaveRock, a 2.3-mln-sq ft office park in Hyderabad, from New York-based Tishman Speyer and Singapore's GIC for over 18 bln rupees.
* RAILWAYS: The Railway Board has put a proposal by the Prime Minister's Office to install CCTVs at all stations and in train coaches on the slow track as it figures out how to fund the 30-bln-rupee project.
* REALTY: Developers met officials from banks and the finance and housing ministries, and sought rationalisation of goods and services tax rate for the sector. Canada-based private equity firm Brookfield Capital Partners has invested $100 mln in two residential projects of Incor Infrastructure in Hyderabad.
* REGULATORY: SEBI has told the Mauritius government that it will not come out with a list of "high-risk jurisdictions".
* TAXATION: The Central Board of Direct Taxes has chalked out a programme of clearing by Dec-end all high-level disputes, involving an income tax demand of 500 mln rupees or more.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India made it mandatory for telemarketers to seek explicit consent of phone users for making commercial calls and sending text messages. The telecom regulator has asked operators to adopt blockchain technology to ensure only registered telemarketers have access to phone databases and that user consent to receive such communication is explicitly recorded.
* TRADE: Commerce secretary Rita Teaotia said there was a "real" possibility that India could lose the trade dispute that the US had filed in the WTO on export subsidies.
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* AVIATION: Air India has realised 7.24 bln rupees by monetising some of its assets and the proceeds are being used to reduce the airline's debt, Minister of State for Civil Aviation Jayant Sinha told Lok Sabha in a written reply.
* BANKING: Chief Economic Adviser Arvind Subramanian said there was a period in the recent past when the Reserve Bank of India should have cut interest rates.
* CEMENT: JSW Cement will invest $150 mln to set up a clinker unit and a captive power plant at Fujairah in the United Arab Emirates.
* COMMODITIES: The farm ministry has asked Directorate General of Foreign Trade to increase export incentives on milk, milk products, and casein to 20% from 10% to boost exports and support domestic prices, Farm Minister Radha Mohan Singh said. The strike by Swabhimani Shetkari Sanghatana that had cut milk supplies to Mumbai, Pune and other cities from Monday is likely to end after the state government agreed to some demand of the farmers' union.
* EXCHANGES: Brokers on equity derivatives markets are locked in combat with the National Stock Exchange over levy of securities transaction tax following the introduction of physical settlement of trades.
* INFRASTRUCTURE: Construction giant Shapoorji Pallonji Group and global insurance major Allianz are jointly set to acquire WaveRock, a 2.3-mln-sq ft office park in Hyderabad, from New York-based Tishman Speyer and Singapore's GIC for over 18 bln rupees.
* RAILWAYS: The Railway Board has put a proposal by the Prime Minister's Office to install CCTVs at all stations and in train coaches on the slow track as it figures out how to fund the 30-bln-rupee project.
* REALTY: Developers met officials from banks and the finance and housing ministries, and sought rationalisation of goods and services tax rate for the sector. Canada-based private equity firm Brookfield Capital Partners has invested $100 mln in two residential projects of Incor Infrastructure in Hyderabad.
* REGULATORY: SEBI has told the Mauritius government that it will not come out with a list of "high-risk jurisdictions".
* TAXATION: The Central Board of Direct Taxes has chalked out a programme of clearing by Dec-end all high-level disputes, involving an income tax demand of 500 mln rupees or more.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India made it mandatory for telemarketers to seek explicit consent of phone users for making commercial calls and sending text messages. The telecom regulator has asked operators to adopt blockchain technology to ensure only registered telemarketers have access to phone databases and that user consent to receive such communication is explicitly recorded.
* TRADE: Commerce secretary Rita Teaotia said there was a "real" possibility that India could lose the trade dispute that the US had filed in the WTO on export subsidies.
