Tuesday , 20 November 2018
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Business

ECONOMIC SCAN

The Muthoot Group flags from Mount Everest PANAJI: The Muthoot Group, one of India’s leading business conglomerates, proudly waved its flag on Mount Everest, world’s highest mountain above sea level. The expedition was led by famous mountaineer and expedition leader, Philip James Crampton, along with his group of 5 members and 6 sherpas. The flag carried the message “Always On ... Read More »

Sorry state of state finances

Dr D M Deshpande Generally speaking, lesser attention is paid to the fiscal performance of states. Actually, states collectively spend more than the Central Government. States’ expenditure over and above their revenues, add up to the consolidated deficit with the centre. Sometimes, despite centre’s fiscal prudence, the overall fiscal deficit goes out of control essentially because the States have not ... Read More »

Hotel prices globally may rise 3.7%, airfares 2.6% in 2019

PTI   MUMBAI Cost of travelling is likely to rise sharply in 2019 globally, with hotel prices expected to go up by 3.7 per cent and airfares by 2.6 per cent, driven by growing economy and rising oil prices, a report said on Tuesday. “Prices are expected to spike in many global markets even as inflation remains subdued,” said Kurt ... Read More »

Plan to align SEZ rules with GST laws in final stage

UNI   NEW DELHI The centre will come out with amendments to Special Economic Zones (SEZ) Rules, 2006 to synchronise it with Goods and Services Tax (GST) laws by the end of this month, a top official in the Union Ministry of Commerce and Industry said. “We have been working for a few months on the amendment of SEZ Rules, ... Read More »

Sensex, Nifty scale new peaks on earnings optimism

PTI   MUMBAI Benchmark indices Sensex and Nifty closed at life-time high levels today after robust buying in metal, realty and capital goods stocks on the back of encouraging earnings. The BSE Sensex continued its record setting spree for a second day as it gained 106.50 points to close at fresh peak of 36,825.10. The 30-share index also bettered its ... Read More »

Bank finance to jewellery sector drops by 10%: GJEPC

PTI MUMBAI Bank finance to the gem and jewellery sector has declined by at least 10 per cent, which will adversely impact exports, GJEPC cautioned in a report. The apex body of the gems and jewellery trade in its report on Tuesday also estimated that the exports in the current fiscal year will see a drastic drop of 10 per ... Read More »

Banks, FIs sign inter-creditor pact: Goyal

PTI   NEW DELHI Banks and FIs, including SBI and LIC, Monday entered into an overarching inter-creditor agreement (ICA) to fast track the resolution of stressed assets, with Finance Minister Piyush Goyal describing the move as a ‘huge step forward’ in addressing the banking industry’s problems. The ICA is being signed by 22 public sector banks (including India Post Payments ... Read More »

Iran 2nd largest oil supplier to oil PSUs in April-June: Pradhan

PTI   NEW DELHI Iran overtook Saudi Arabia to be the second largest supplier of crude oil to Indian public sector firms during the first three months of current fiscal, Oil Minister Dharmendra Pradhan said Monday. Indian PSUs, which last fiscal cut oil imports from Iran by a quarter, bought 5.67 million tonnes of crude oil from the Persian Gulf ... Read More »

India, B’desh to set up 6 more border haats

IANS AGARTALA To improve the livelihood of people on the border, India and Bangladesh will set up six more “border haats” (markets) in addition to the existing four, a top official said here on Monday after a series of official-level meetings. A 13-member Indian delegation led by Commerce Ministry’s Joint Secretary Bhupinder Singh Bhalla and an eight-member team of Bangladesh ... Read More »

Banks, FIs sign inter-creditor pact: Goyal

PTI   NEW DELHI Banks and FIs, including SBI and LIC, Monday entered into an overarching inter-creditor agreement (ICA) to fast track the resolution of stressed assets, with Finance Minister Piyush Goyal describing the move as a ‘huge step forward’ in addressing the banking industry’s problems. The ICA is being signed by 22 public sector banks (including India Post Payments ... Read More »