Business Standard - November 03, 2022

In this issue

November 03, 2022

Acting prematurely would have hurt economy, says Das

RBI'S SLIPPAGE IN INFLATION TARGETING

3 mins

BANKS NOT KEEN TO SHARE JET AIRWAYS" LIABILITY

Lenders to Jet Airways are not keen to share the additional liability

1 min

FMCG distributors offer more credit to retailers

AS DEMAND WEAKENS IN RURAL AREAS...

2 mins

Abuse of LRS for offshore betting under CBIC lens

Aseparate investigation indicates tax evasion of up to ₹80,000 crore by home-grown online gaming firms

2 mins

Indian iPhone users may get to use 5G services from next week

Beta testing set to begin ahead of final software roll-out in December

3 mins

PM WO0S GLOBAL INC: INDIA BEST PLACE FOR INVESTMENTS"

JSW, Adani committo spending 1 trillion each in Karnataka over 5-7 years

2 mins

‘Sun Pharma open to taking more risks in R&D and investing more

India's largest drugmaker by market share, Sun Pharmaceutical Industries (Sun Pharma) has seen its specialty products pay off. It derives 32 per cent of its business from India, over 30 per cent of consolidated sales from the US. Its specialty portfolio grew 11 per cent YoY in the second quarter to $201 million. Its Chief Executive Officer of North America ABHAY GANDHI and group Chief Financial Officer CS MURALIDHARAN tell Sohini Das about their plans.

3 mins

Won't shut Kerala centre: Byju’s chief after talks with CM

Following a detailed discussion between Kerala Chief Minister Pinarayi Vijayan and Byju's founder Byju Raveendran, the edtech giant has decided to continue operations of its Thiruvananthapuram product development centre.

1 min

Tatas now own 100% in AirAsia India

Merger with Air India Express to be completed in 12 months

1 min

‘NPAs peaked a few quarters ago’

Fincare Small Finance Bank revived its plans to hit the capital market and has now refiled Initial public offering IPO) papers with the market regulator. RAJEEV YADAV, managing director chief executive officer of Fincare Small Finance Bank, told Manojit Saha in an interview that tapping the capital market is both due to regulatory requirements and funding growth. Edited excerpts:

3 mins

Centre raises ethanol purchase price; okays ₹52,000-cr subsidy for non-urea fertilisers

The Union cabinet on Wednesday raised the prices of all three categories of ethanol that oil-marketing companies use for blending with petrol.

2 mins

Retail e-₹ pilot in Nov, no rush to launch: Das

‘Will introduce ina manner thatthe whole process is non-disruptive’

2 mins

RuPay credit card UPI to succeed if small transactions under 10%: Asbe

NO WORRIES, INDIA HAS UPI AUTOPAY (7 MN NEW APPROVED COLLECTION MANDATES/ MONTH) TO COLLECT EVERY ANYTIME/MONTH/QUARTER OR YEARLY AS YOU WISH DEAR TWITTER DILIP ASBE, NPCI chairman

1 min

PNB totransfer 62 bad loans worth ₹20K cr to NARCL

Punjab National Bank (PNB) has identified bad loans worth ₹20,008 crore from accounts the National Asset Reconstruction Company (NARCL) for resolution in a phased manner, Atul Kumar Goel, its managing director (MD), said on Wednesday.

1 min

Actual cash loss on diesel ₹3-4 per litre, says Puri

PSU oil firms are losing a net ₹4 per litre on diesel while their margins have turned positive on petrol, Oil Minister Hardeep Singh Puri said on Wednesday on talks of a price reduction in the offing as international rates have softened.

1 min

200 Rupee Bank staffers stare at job loss; liquidator hired

The Maharashtra registrar of co-operative societies (RCS) has appointed D Doiphode as liquidator to wind up the crisis-laden Rupee Co-operative Bank. The liquidator will focus on recoveries and repayment to depositors of up to ₹300 crore.

1 min

Banks not keento share Jet’s ₹200-crore liability

The consortium had won the bid for Jet Airways in October 2020

2 mins

UK FTA: Leaked draft IP chapter shows stringent patent rule

Negotiations for a trade deal between India and the UK have run into fresh controversy, after the proposals under a leaked chapter of the deal on intellectual property (IP) are believed to put access to affordable, lifesaving generic medicines from India at risk.

1 min

ED summons Soren in money laundering case

Hemant Soren hit out at the BJP, alleging it was 'misusing' institutions

2 mins

Himachal’s high debt-GSDP ratio makes poll freebies a tough ask

Though more prosperous than other states, it has high debt-GSDP ratio

3 mins

Food prices are soaring, and so are companies’ profits

Some firms and restaurants have continued to raise prices for consumers even after their own inflation-related costs have been covered

3 mins

Russia blinks, says it will rejoin grain deal

RUSSIAN LEADERS DISCUSSED USE OF NUCLEAR WEAPONS: US OFFICIALS. Moscow calls vote on unfounded Ukraine bio weapons claims

1 min

China, Pakagree tolaunch $10-bn railroad project

China will support Pakistan to stabilise its financial situation, said China's Xi Jinping. Pakistan PM is on a two-day official visit to Beijing

1 min

Opioid case: CVS, Walmart, Walgreens to pay $13.8 bn

This resolves thousands of US state, local and tribal govt lawsuits accusing them of mishandling opioid painkillers

1 min

Empowering Gati Shakti

Done the right way, the smart platform for infrastructure planning and execution could lead to tremendous productivity benefits

4 mins

The existential crisis at RRBs

They are mostly loss-making, with growing bad assets, so the agriculture sector prefers commercial banks

2 mins

‘Switch Mobility aims to be in EV markets worldwide’

Switch Mobility expects the market for electric buses to double next year, says MAHESH BABU, chief executive officer, India, and chief operating officer of the start-up owned by Ashok Leyland. The big advantage” for the company is its synergy with Ashok Leyland, he tells Shine Jacob.

4 mins

Jimmy's prelude: Hits that became protest anthems

Thousands of Chinese social media users have taken to dancing to the 80s' Hindi superhit as they brandish empty bowls and pans ...

3 mins

Amid stiff goals, Earth loses Ireland-sized green cover

Assessment report says COP26 deforestation targets by 2030 might not be met, 2021 saw gross deforestation of 6.8 million hectares

2 mins

Sunak decides to attend COP27

British Prime Minister Rishi Sunak announced on Wednesday that he will attend the COP27 climate summit in Egypt next week, reversing his previous decision to skip the meeting to focus on domestic issues and the economic crisis in the UK.

1 min

Trading activity dips in Oct despite market buoyancy

Cash market turnover falls almost 20% as rally takes traders by surprise

2 mins

‘India’s decoupling fromglobal capital markets surprising’

The domestic market has outperformed all major global markets over the past one year. There are quite a few reasons for India’s outperformance but the extent creates concern, says MUKUL KOCHHAR, head of institutional equities, Investec India. In an interview with SAMIE MODAK, Kochhar explains the reasons for India's outperformance and why investors should temper their mid-term return

2 mins

80% SIP investments go into equity funds

Hybrid and passive funds gained a lot of traction during the past two years owing to their advantage, vis-a-vis active equity schemes.

2 mins

LIC Housing under pressure on weak results

Improvement in interest income and margins crucial for investor sentiment to revive

2 mins

DCX IPO: Issue subscribed 69.7 times on last day

The initial public offering (IPO) of DCX Systems was subscribed to 69.7 times on Wednesday, the concluding day of the issue.

1 min

Presumptive tax scheme can reduce compliance burden

Simplifies ITR filing, but can be taxing ifincome is below 8% of turnover

2 mins

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