India tops domestic air traffic demand at 16.4% in November: IATA
India's domestic air passenger traffic grew by 16.4 percent in November last year, topping the growth chart worldwide, global aviation body, the International Air Transport Association (IATA) said on Thursday.
The IATA, comprising major air carriers, said India continued to witness double-digit growth for the 39th consecutive month.
Globally, the total revenue passenger kilometres (RPK) increased 8 percent compared to November 2016 — the fastest growth rate in five months.
The available seat kilometeres (ASKs) or capacity grew by 6.3 percent.
FDI reforms against BJP line, says Yashwant Sinha
Veteran BJP leader Yashwant Sinha on Thursday termed the latest round of Foreign Direct Investment (FDI) reforms as a deviation from the party's stand, and said 100 percent FDI in single-brand retail will hit small traders.
Sinha, who has been critical of the Narendra Modi government for its handling of economy among other issues, was here to take part in a farmers' protest against an upcoming power project in Gadarwara town of Narsinghpur district.
Talking to the reporters here, Sinha said, "As an opposition party, the BJP opposed 100 percent FDI in retail. But after coming to power, the union government headed by the BJP decided to implement it. This is not good for the country. 100 percent FDI in single-brand retail would create problems for small traders.
SBI to raise Rs 20,000 crore via bonds for affordable housing
Country's largest lender State Bank of India (SBI) plans to raise Rs 20,000 crore through long term bonds to fund affordable housing.
SBI had earlier proposed to raise Rs 5,000 crore for the purpose.
"A proposal will be submitted to Executive Committee of Central Board (ECCB)... for approval for issuance of long term bonds of Rs 20,000 crore for financing of infrastructure and affordable housing in domestic and overseas market instead of Rs 5,000 crore intimated earlier," SBI said in a filing to the stock exchanges.
Indian Oil Corp buys third shipload of US crude oil
Indian Oil Corp (IOC) today bought its third shipload or cargo of US crude oil as it looks at cheaper alternatives that have emerged due to the global supply glut.
IOC bought 2 million barrels of light Louisiana sweet crude oil in a tender today, official sources said.
The oil is for delivery at its Paradip refinery in Odisha during April 11-20.
IOC’s Paradip refinery had in October last year received India’s first ever shipment of US crude oil when it imported a 1.6 million barrels parcel.
Trade setup for Friday: Top 15 things you should know before Opening Bell
Investors are advised to stay light and don't be in a hurry to create fresh long positions on the index and wait for a breakout.
JNU makes minimum 75% attendance compulsory for students
Jawaharlal Nehru University administration has made minimum 75 percent attendance compulsory for all students.
However, if a student is absent on valid medical grounds then 60 percent attendance will suffice.
The circular issued by Assistant Registrar(Evaluation) Sajjan Singh, based on recommendations of the compulsory attendance committee, said, for students of BA, MA, MSc, MTech, PG diploma, MPhil, Phd and all part-time programmes a minimum of 75 percent attendance in a course in mandatory for appearing in the end-semester examination.
FSSAI working on safer ‘prasad’ at temples
Food regulator FSSAI has expanded its programme for training officials of renowned temples like Iskcon and Somnath temple to ensure the ‘prasad’ served to devotees is safe and hygienic.
The Food Safety and Standards Authority of India (FSSAI), which launched a programme called BHOG in 2016, organised a workshop in the national capital today which was attended by representatives of all major temples including Chintapurni Shakti Peeth, Meenakshi temple and Somnath temple.
It also released a guidance manual to facilitate voluntary implementation of food safety at places of worship.
Panel examining cryptocurrency-related issues submits report
A committee appointed by the government last year to examine issues related to cryptocurrency has submitted its report, a senior law ministry official said on Thursday.
The panel is also examining pros and cons including launching an own cryptocurrency.
Addressing the '2nd Global Summit P2P Digital Asset System,' organised by ASSOCHAM, Additional Secretary in the Department of Legal Affairs Anadee Nath Mishra said the government is also looking into the allegations that people who had black money had diverted the same to cryptocurrencies in India during demonetisation.
Govt plans mechanism to address iron ore price volatility
The steel ministry is contemplating a mechanism to moderate the volatile prices of iron ore, the main raw material of steel.
“We have formed a task-force to come out with a report in this regard,” Union Steel Minister Chaudhary Birender Singh said here today.
The minister said though it is a free market for iron ore, the government wanted some price predictability, at least for three to four months.
ED issues fresh summons to Karti Chidambaram in INX Media case
The Enforcement Directorate today issued fresh summons to Karti Chidambaram, the son of senior Congress leader P Chidambaram, after he skipped his appearance before it in connection with the INX Media money laundering case probe.
Official sources said he has now been called by the agency on January 16.
The investigating officer (IO) of the case had earlier this month summoned him for appearance today, which he skipped.
Health Assure to invest $15 mn to strengthen biz
Health Assure, a health-tech platform, today said it will invest USD 15 million (over Rs 95 crore) over the next three years to strengthen its primary care network in the country.
Started in 2011, Health Assure provides access to 3,100 primary care centres across 1,000 cities and connects insurers and corporates through its platform.
“We plan to invest USD 15 million over the next three years. This will go towards network enrichment, creation of more products, strengthening IT infrastructure and distribution,” Health Assure founder and CEO Varun Gera told PTI.
Roads accident deaths have come down in 2017 in Tamil Nadu: Official
Various steps taken by the Tamil Nadu government has brought down the number of deaths and road accidents in 2017 as compared to 2016, a top official today said.
There were 1,061 lesser deaths and 5,869 lesser accidents in the the state in 2017 when compared to 2016 due to various measures, Transport and Road Safety Commissioner Dayanand Kattaria said without elaborating at a review meeting on road safety with senior officials of departments including Transport and police here.
However, steps should be taken to bring down the accident rate to nil in due course as there were increased incidents of drunk driving, driving while speaking over cell phone, rash driving and riding without helmets, which lead to mishaps and deaths, he said.
Fingerprint, iris data in Aadhaar are safe, secure: Ravi Shankar Prasad
Law and IT Minister Ravi Shankar Prasad said today that finger print and iris data stored in the Aadhaar system are safe and secure and cannot be breached even by “billions of efforts”.
Speaking at an event of Delhi School of Economics, he showed his Aadhaar card to audiences and said, “The (Aadhaar) system contains my finger print and iris kept in safe and secure encrypted form which cannot be broken even by billions of efforts. That is an Indian technology.”
The comments from Prasad come at a time when there have been reports of alleged data breach of Aadhaar subscribers.
Kerala to use robots to clean sewers, end manual-scavenging
Robots will soon replace men in cleaning up sewer holes in Kerala, ending the age-old practice of manual scavenging in the southern state. ‘Bandicoot’, the robot developed by the startup firm Genrobotics, will be used for cleaning sewer holes.
The Kerala Water Authority (KWA) and Kerala Startup Mission (KSUM) today signed an MoU for transfer of technology and products, including use of the robots for the purpose. The MoU was signed between Kerala Water Innovation Zone under KWA and KSUM at the Chief Minister’s office here, a statement said here.
‘Bandicoot’ will start its work, so far mostly done manually, by cleaning sewer holes in the city during the coming famed Attukal Pongala festival in Thiruvananthapuram in March, it said.
Crimes in Delhi increased by 12 percent in 2017: Police
Crimes in the national capital increased by 12 per cent in 2017, with the police saying that factors like economic disparity, consumerism and slack family control have a bearing on the rising figures, according to Delhi Police data.
However, records show that crimes in the city under major heads like rapes, murders have declined. The increase in motor vehicle thefts continues to be an area of concern for the police. (PTI)
Budget 2018: Pressure on Finance Minister to fulfil promise of cutting corporate tax rate, say experts
Finance Minister Arun Jaitley will be under pressure to moderate tax rate for the industry which was promised a lower levy of 25 percent by the government three years ago, experts said.
With the US substantially cutting corporate tax, the minister will also need to keep India's tax rate globally competitive, they added. (PTI)
UAE confident world oil market will balance out in 2018
UAE Energy Minister and OPEC president Suheil al-Mazrouei insisted today that oil producers can balance out supply and demand this year as they stick to a production cut deal. (PTI)
Global solar sector attracts USD 12.8 billion corporate funding in 2017
Total global corporate funding into the solar sector amounted to USD 12.8 billion in 2017, registering a 41 percent jump over last year, a report says.
This is a 41 percent increase compared to USD 9.1 billion raised in 2016, according to global clean energy communications and consulting firm Mercom Capital Group.
Total global corporate funding into the solar sector - including venture capital/ private equity, debt financing and public market financing -- stood at USD 12.8 billion last year. (PTI)
Dept of Telecom to take view on TRAI's pending proposals by March 31
The Department of Telecommunications (DoT) will seek to move quickly and take a view on most of sector regulator TRAI's recommendations pending with it, including on net neutrality and internet telephony, by March 31, a senior government official said today. (PTI)
Israeli Prime Minister Benjamin Netanyahu will be visiting India from January 14 to January 19. Netanyahu will be visiting Delhi, Agra, Ahmedabad and Mumbai, according to the Ministry of External Affairs.
TCS Q3 dollar revenue grows 1%, EBIT margin misses estimates
Tata Consultancy Services kicked off IT sector earnings on Thursday. The IT major has revenue at Rs 30,904 crore and dollar revenue at USD 4,787 million for the quarter.
TCS Q3 Earnings | TCS reports Q3 Rupee revenue at Rs 30,904 crore. Dollar revenue at USD 4,787 million and EBIT margin at 25.2 percent.
RBI sets rupee reference rate at 63.7364 against US dollar
The Reserve Bank of India today fixed the reference rate of the rupee at 63.7364 against the US dollar and 76.1395 for the euro.
The corresponding rates were 63.8264 and 76.1385, yesterday. (PTI)
Passenger vehicle sales zoom past record 30 lakh mark in 2017
Passenger vehicle sales in India crossed 30 lakh mark for the first time in 2017, growing at a five-year high of 8.85 percent on the back of robust demand for utility vehicles.
According to the data released by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales in 2017 stood at 32,29,109 units as against 29,66,603 units in 2016, a growth of 8.85 percent. (PTI)
Honda launches special editions of City, Amaze, WR-V
Honda Cars India Ltd (HCIL) today launched special editions of its three models City, Amaze and WR-V.
Honda City 20th Anniversary Edition petrol automatic is priced at Rs 13,74,532 while the diesel trim with manual transmission is tagged at Rs 13,82,382, HCIL said in a statement. (PTI)
Oil minister Dharmendra Pradhan rules out upstream oil and gas regulator
Oil minister Dharmendra Pradhan today virtually ruled out giving statutory powers to upstream oil and gas regulator DGH, saying the sector has not fully developed and needs government support.
There are two regulatory bodies in the oil and gas sector - the Petroleum and Natural Gas Regulatory Board, which is a regulator for the downstream activities like laying of pipelines and fuel marketing but without powers to review pricing. (PTI)
We are working with partners to secure India's Nuclear Suppliers Group membership: US Ambassador to India Kenneth I. Juster pic.twitter.com/lqmNma71tP— ANI (@ANI) January 11, 2018
'No deal' Brexit could cost Britain about 5,00,000 jobs, says London mayor
Britain could lose almost 500,000 jobs and 50 billion pounds ($67.41 billion) investment over the next 12 years if it fails to agree a trade deal with the European Union, according a report commissioned by London Mayor Sadiq Khan.
Cambridge Econometrics, an economics consultancy, looked at five different Brexit scenarios, from the hardest to the softest form of Brexit, and broke down the economic impact on nine industries, from construction to finance. (Reuters)
Here are the top headlines at 4 pm from Moneycontrol News' Sakshi Batra