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IST | Source: Moneycontrol.com

News highlights of the day: Privatisation can bring Air India back to its past glory, says Jayant Sinha

This blog will keep track of key global and local developments impacting business and markets through the day. Important local and global political developments will also find resonance here.

  • Dec 29, 09:01 PM (IST)

    That's all for today, readers. Thanks for staying on with our coverage of the day's action. Your enthusiasm encourages us to better our coverage every day. Do come back tomorrow for more news, views and insights.

  • Dec 29, 08:41 PM (IST)

    Moderate intensity quake jolts Andaman and Nicobar islands

    An earthquake of moderate intensity shook the Andaman and Nicobar Islands today.

    The quake measuring 5.2 on the Richter Scale hit the Nicobar Islands region around 5pm, a statement from the Indian Meteorological Department said.

    The epicentre of the quake, at a depth of around 10 km, was located at latitude 8.6 degree North and longitude 92.4 degree East. (PTI)

  • Dec 29, 08:15 PM (IST)

    Privatisation can bring Air India back to its past glory, says Jayant Sinha

    Defending government decision to privatise national carrier Air India and its subsidiaries, junior aviation minister Jayant Sinha on Friday said the private sector can run airlines business "far better" than government.

    Sinha also expressed hope of getting a winning bid for the national carrier in the next six to eight months.

    To revive the loss-making national carrier, government is working on the modalities for its strategic disinvestment.

  • Dec 29, 07:42 PM (IST)
  • Dec 29, 07:39 PM (IST)

    ISRO to launch 31 satellites in a single mission on board Polar Satellite Launch Vehicle

    ISRO today announced that it would launch 31 satellites, including India's Cartosat-2 series earth observation spacecraft, in a single mission onboard its Polar rocket on January 10.

    The mission will be the first Polar Satellite Launch Vehicle (PSLV) mission after the unsuccessful launch of navigation satellite IRNSS-1H in August.  "The launch is tentatively scheduled for January 10," a senior Indian Space Research Organisation (ISRO) official told PTI. The mission's main payload would be India's Cartosat-2 series earth observation satellite.

  • Dec 29, 07:14 PM (IST)

    No cylinder at our facility, all guests safe: Mojo's Bistro Mumbai

    Mojo's Bistro, the pub in the central Mumbai building that caught fire shortly after midnight on Friday said that its guests were escorted out safely and denied that it had any cylinders on its premises.

    Fourteen people were killed in the fire that started after 12:30 am in the 1 Above pub on the terrace of the building in Lower Parel and spread to Mojo's Bistro on the third floor, one level below.

  • Dec 29, 06:52 PM (IST)

    Government extends deadline for filing of final sales GST returns till January 10

    Government extends deadline for filing of final sales GST returns till January 10

    The government has extended the last date for filing of final sales return GSTR-1 by 10 days, until January 10 under the Goods and Services Tax.

  • Dec 29, 06:46 PM (IST)

    SoftBank to buy 15% stake in Uber, pump in $1 billion in early 2018

    Japanese conglomerate SoftBank will pick up 15 percent stake in Uber and pump in USD 1 billion as a primary investment in the US-based ride-hailing app in early 2018, according to multiple sources.

    The fresh capital infusion comes at a time when the company is looking at moving beyond the controversies it was mired in 2017 and further scaling up operations.

  • Dec 29, 06:31 PM (IST)

    Note-ban, GST became possible due to PM Modi's leadership: Manohar Parrikar

    Goa Chief Minister Manohar Parrikar today said decisions such as demonetisation and the roll-out of the Goods and Services Tax could be implemented because of the "bold leadership" of Prime Minister Narendra Modi.

    "These decisions have the capacity to make India an economic giant in the years to come. Difficulties in their implementation were overcome because of Modi's bold leadership," Parrikar said, speaking at the Indian Institute of Technology (IIT) Mumbai.

  • Dec 29, 06:18 PM (IST)

    Update from the parliament: Lok Sabha has been adjourned till 11 am on January 2, 2018.

  • Dec 29, 06:03 PM (IST)

    Hotstar dominates the OTT video streaming market in India: Counterpoint Research

    Counterpoint research released a report for December 2017 analysing the OTT video streaming market and the key players. It has seen a 35 percent year-over-year increase in the market, currently valued at USD 280 million with nearly 100 million subscribers.

    Read the full report here.

  • Dec 29, 05:41 PM (IST)

    Markets In 2017 - 10 Factors That Drove Indian Indices This Year

    Markets In 2017 - 10 Factors That Drove Indian Indices This Year

    The Indian stock market had a healthy 2017, returning upto 29%.

  • Dec 29, 05:26 PM (IST)
  • Dec 29, 05:07 PM (IST)

    Students, teachers oppose move to make attendance mandatory at JNU

    Students and teachers have come up opposing the move to make attendance mandatory at the Jawaharlal Nehru University (JNU).  Both the students' union and the teachers' body in the university claimed that the decision was made without proper consultation.

    The entire issue started after a circular was issued by the university authorities on 22nd December making attendance mandatory for all students from the beginning of the winter semester next year. The circular which was issued following an Academic Council meeting earlier in the month has also given detailed guidelines including the minimum percentage of attendance required for different graduate, post-graduate and research level courses.

  • Dec 29, 04:39 PM (IST)

    Govt extends deadline for filing final GST returns till Jan 10

    The government has extended by 10 days the last date for filing of final sales return GSTR-1 till January 10 under the Goods and Services Tax, sources said.

    Businesses with turnover of up to Rs 1.5 crore will have to file GSTR-1 for July-September by January 10, 2018, as against December 31, 2017 earlier.

    For businesses with turnover of more than Rs 1.5 crore GSTR-1 has to be filed for the period July-November by January 10. 

  • Dec 29, 04:34 PM (IST)

    Medal prospects will not face funding hurdles, says Sports Minister Rajyavardhan Rathore

    Sports Minister Rajyavardhan Singh Rathore today said genuine medal prospects will not face any problem in getting financial support from the government but also emphasised on the need to use the taxpayers' money judiciously.

    Rathore said athletes under the Target Olympic Podium (TOP) scheme will face no hurdle in their preparation for next year's Commonwealth and Asian Games and the 2020 Tokyo Olympics.

    "It is taxpayers' money so the should be utilised in the right place. Concentration of effort is very important," Rathore said.

  • Dec 29, 04:00 PM (IST)

    RCom-Reliance Jio deal protects lenders' interest: SBI chief

    The mega telecom deal involving acquisition of wireless assets of debt-laden Reliance Communications by Reliance Jio is a "good and welcome development" that fully protects lenders' interest, SBI Chairman Rajnish Kumar said on Friday.

    At the same time, the deal also sets a great example for promoters of other stressed companies, Kumar told BTVi.

    The two companies, last evening, announced a blockbuster deal under which Reliance Jio, promoted by Mukesh Ambani, will acquire the wireless assets of the troubled RCom, a company owned by younger sibling Anil Ambani. 

  • Dec 29, 03:57 PM (IST)

    Sources say govt likely to extend deadline for filing GSTR-1 from Dec 31 To Jan 10 (CNBC TV-18)

  • Dec 29, 03:45 PM (IST)

    Here’s what FM Jaitley had to say about IBC amendments:

    - Most loans under IBC were given before 2014

    - Banks were window dressing, granting loans despite stress

    - Clear picture on NPAs came only after RBI asset quality review

    - Percentage of NPAs rose because RBI forced banks to assess stressed accounts                    

  • Dec 29, 03:29 PM (IST)

    JUST IN: Lok Sabha passes bill to amend Insolvency & Bankruptcy Code  

  • Dec 29, 03:27 PM (IST)

    RBI cancels sale of 2 bonds scheduled for today; bonds surge

  • Dec 29, 02:58 PM (IST)

    Indian economy slowed down in 2016-17, says government

    The Indian economy slowed down in 2016-17, with the gross domestic product declining drastically from 8 per cent in 2015-16 to 7.1 per cent the next year, government said today.

    Finance Minister Arun Jaitley said the slower economic growth reflected lower growth in the industry and the services sectors, due to a number of factors including structural, external, fiscal and monetary factors.

    He said in the Lok Sabha that the lower rate of global economic growth in 2016, along with a reduction in gross fixed investment to GDP ratio, stressed balance sheets of the corporate sector, lower credit growth in industry sector were some of the reasons for the low growth rate in 2016-17.

  • Dec 29, 02:53 PM (IST)

    Government bringing a new bill on consumer protection

    Consumer Affairs Minister Ramvilas Pawan on Friday asked members in Rajya Sabha not to delay the approval of a proposed bill on consumer protection after one of them raised the issue of misleading advertisments.

    As SP member Naresh Agrawal raised the issue, Paswan said the cabinet has approved a new bill and urged the lawmakers not to refer it to the Standing Committee and delay the approval process after it is introduced in Parliament.

  • Dec 29, 02:34 PM (IST)

    Here are the top headlines at 2 pm from Moneycontrol News' Anchal Pathak

  • Dec 29, 02:23 PM (IST)

    JUST IN: TTV Dinakaran takes oath as MLA from RK Nagar constituency

  • Dec 29, 02:19 PM (IST)

    India hatching conspiracies against CPEC, alleges Pakistan

    Pakistan has accused India of using Afghanistan for hatching conspiracies against China- Pakistan Economic Corridor (CPEC).

    Interior Minister Ahsan Iqbal said the "enemies of Pakistan" were using different tactics and propaganda to fail the the USD 50 billion CPEC economically, the Dawn reported.

    "India is hatching conspiracies against CPEC but Pakistan will foil them with the support of the people," he told journalists yesterday after inaugurating an executive passport office in Quetta.

  • Dec 29, 02:15 PM (IST)

    Pakistani journalists condemn fellow mediapersons who heckled Jadhav's mother and wife

    A section of Pakistani journalists have come forward to condemn the mistreatment meted out against the mother and wife of Kulbhushan Jadhav. The scribes have openly spoken up against the conduct by local journalists who verbally harassed the women after they met Jadhav. 

  • Dec 29, 01:56 PM (IST)

    India facing huge challenges in gender justice: UN Women

    India is facing "very very big" challenges in gender justice, a top UN Women official has said, adding that the government has "prioritised" women's issues in its policies and programmes but there is need for greater momentum.

    Lakshmi Puri, assistant secretary-general of the United Nations and deputy executive director of UN Women, called for setting up special courts for hearing cases of violence against women, and providing gender responsive training to police.

  • Dec 29, 01:51 PM (IST)

    1,200 offers at the end of phase-I placement at IIT Kharagpur

    The placement session 2017-18 at IIT Kharagpur reached a remarkable milestone with offers made to 1,200 students of the institute at the end of its phase-I.

    This session started with 2,054 students enrolled for the placement process, which was the maximum at any individual IIT, said Prof Debasis Deb, Chairman, Career Development Centre (CDC), IIT Kharagpur. 

  • Dec 29, 01:32 PM (IST)

    Govt says April-Nov receipts at Rs 8.67 lakh cr Vs Rs 8.29 lakh cr (YoY); April-Nov spending at Rs 14.79 lakh cr Vs Rs 12.87 lakh cr (YoY); April-Nov capital spend at Rs 1.84 lakh cr Vs Rs 1.42 lakh cr (YoY)

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