Daily Sector News Today – 22.08.2017
keerthiga (10:21:58 AM):
* CORPORATE: McDonald's on Monday snapped its franchise agreement with Connaught
Plaza Restaurants, its equally-owned joint venture with Vikram Bakshi, that operated the US
chain's restaurants in northern and eastern India.
* ECONOMY: NITI Aayog's two-day meeting for chief executive officers of various
companies, dubbed "Champions of Change", began on Monday, with more than 200 senior
officials in attendance.
- Iran has sought a firm commitment from India that the construction of the $1.6-bln rail
link from Chabahar port will be taken up expeditiously.
- As much as 420 bln rupees has already come in as taxes so far in the first monthly filing
under the new goods and services tax regime.
* EXCHANGE: The BSE will introduce a facility on index options and stock options
contracts, wherein trading members can opt for a "do not exercise" instruction on certain inthe-money
options contract on expiry day.
* FINANCE: Finance Minister Arun Jaitley will chair a meeting of the Financial Stability and
Development Council with financial sector regulators today, to assess the current
macroeconomic situation.
* FMCG: Sri Sri Ravi Shankar, founder of the Art of Living Foundation, will open about
1,000 retail stores to sell ayurvedic toothpastes and soaps, which may compete with Patanjali.
* HEALTHCARE: Top hospitals have approached the GST Council and have urged it to
lower the tax rates for inputs such as medical equipment, diagnostics, reagents, labour and
maintenance of medical equipment.
* OIL AND GAS: Iraq has informed its customers that it plans to switch its price benchmark
for Basra crude in Asia to DME Oman futures from January, dropping the average of Platts'
Oman-Dubai quotes.
* PHARMACEUTICALS: The Department of Health and Family Welfare and Indian Council
of Medical Research signed a tripartite agreement with the International Vaccine Institute for
collaboration on vaccine research and development.
* REGULATORY: BSE has said that shares of 200 companies that have remained suspended
for over 10 years will be compulsorily de-listed, effective Wednesday.
- The Securities and Exchange Board of India and the income tax department are
investigating the role of around 100 brokerages that they believe may have helped shell
companies launder as much as 160 bln rupees.
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* CORPORATE: McDonald's on Monday snapped its franchise agreement with Connaught
Plaza Restaurants, its equally-owned joint venture with Vikram Bakshi, that operated the US
chain's restaurants in northern and eastern India.
* ECONOMY: NITI Aayog's two-day meeting for chief executive officers of various
companies, dubbed "Champions of Change", began on Monday, with more than 200 senior
officials in attendance.
- Iran has sought a firm commitment from India that the construction of the $1.6-bln rail
link from Chabahar port will be taken up expeditiously.
- As much as 420 bln rupees has already come in as taxes so far in the first monthly filing
under the new goods and services tax regime.
* EXCHANGE: The BSE will introduce a facility on index options and stock options
contracts, wherein trading members can opt for a "do not exercise" instruction on certain inthe-money
options contract on expiry day.
* FINANCE: Finance Minister Arun Jaitley will chair a meeting of the Financial Stability and
Development Council with financial sector regulators today, to assess the current
macroeconomic situation.
* FMCG: Sri Sri Ravi Shankar, founder of the Art of Living Foundation, will open about
1,000 retail stores to sell ayurvedic toothpastes and soaps, which may compete with Patanjali.
* HEALTHCARE: Top hospitals have approached the GST Council and have urged it to
lower the tax rates for inputs such as medical equipment, diagnostics, reagents, labour and
maintenance of medical equipment.
* OIL AND GAS: Iraq has informed its customers that it plans to switch its price benchmark
for Basra crude in Asia to DME Oman futures from January, dropping the average of Platts'
Oman-Dubai quotes.
* PHARMACEUTICALS: The Department of Health and Family Welfare and Indian Council
of Medical Research signed a tripartite agreement with the International Vaccine Institute for
collaboration on vaccine research and development.
* REGULATORY: BSE has said that shares of 200 companies that have remained suspended
for over 10 years will be compulsorily de-listed, effective Wednesday.
- The Securities and Exchange Board of India and the income tax department are
investigating the role of around 100 brokerages that they believe may have helped shell
companies launder as much as 160 bln rupees.
