Supply of essential goods could take a hit if truckers flock to their villages
Moody's cut its outlook for the aerospace and defence industry to negative from stable and warned that even when markets recover, the damaged balance sheets of most airlines would hurt demand for new aircraft.
The monthly poll, which tracks the Bank of Japan's key tankan quarterly survey, found business confidence across the sectors remained weak over the next three months, as the coronavirus added to uncertainty over the global outlook and the October national sales tax hike.
The headline index for big manufacturers' sentiment stood at zero in December, versus plus 5 in September, the closely watched survey showed on Friday. It compared with economists' median estimate of plus 2 in a Reuters poll. It was the fourth straight quarter of declines.
Manufacturers were the most pessimistic since 2013 in the November survey and the service sector mood was at three-year lows, as the world's third-largest economy weathered a global slowdown, natural disasters and a national sales tax hike.
In order to reopen, tanneries would have to acquire a no objection certificate (NOC) from the UPPCB
The Reuters Tankan, which tracks the Bank of Japan's closely-watched tankan quarterly survey, also found service-sector firms' sentiment edging up, a further sign of broadening recovery.
Demand for cars, sport utility vehicles and pickup trucks in February dipped to an annualised pace of 17.6 million vehicles, compared with a robust 17.7 million a year earlier, according to Autodata Corp.
The month-on-month fall compared with a median market forecast of a 0.3 percent rise and a revised 0.7 percent gain in December, data by the Ministry of Economy, Trade and Industry (METI) showed.
The national drug pricing regulator NPPA has asked manufacturers and importers of coronary stents to submit details, including price list of their products, before March 1.
There are nine undertakings under the ministry of steel and together they plan to spend Rs. 12637.71 crores in 2017-18, higher by nearly 9 percent from the Rs. 11604.94 crores they see themselves spending in the year that ends next month.
IHS Markit's final 2016 manufacturing Purchasing Managers' Index for the euro zone registered 54.9 in December, in line with an earlier flash estimate and its highest since April 2011.
The two men are in talks with the government about a plea agreement, according to a source close to the negotiations who was not authorized to discuss the matter.
The adverse impact of the demonetisation on disposable incomes and hence consumer spending has resulted in a slowdown in domestic demand for apparels and other end-products of textile industry in the immediate term.
Industrial output rose 0.1 percent in October, increasing for the third consecutive month. The result slightly beat the median forecast of a 0.1 percent fall in a Reuters poll of economists, and followed a 0.6 percent increase in September.
Fertiliser subsidy arrears are likely to be around Rs 40,000 crore at the end of current fiscal due to lower allocation in the Budget, industry body FAI has said while seeking early disbursal of pending dues of manufacturers.
The Madurai Bench of the high court gave the interim injunction on a PIL filed by Prabakar, Secretary of Tirunelveli Consumer Protection Association.
In conversation with CNBC-TV18, AK Bajoria, President & Director of the company, said the JK Tyre has shown a 5 percent growth. It has achieved reasonable results and going forward he hopes the company does better.
The company has been selected by the USPS for NGDV prototype for testing as a result of a competitive Request for Proposal (RFP) issued in October last year, M&M said in a statement.
In a move that is expected to lead to lower rates for housing EMIs, car loans and corporate borrowing, the Reserve Bank reduced the short term lending rate (repo rate) by 0.25 percent to 6-year low of 6.25 percent in the fourth bi-monthly monetary policy statement.
The minister also sought support from Indian Electrical and Electronics Manufacturers Association (IEMMA) for "exposing those who use second-grade sheets, recycled copper or any of these products which damage the life, quality or accuracy of electrical equipment, and bring bad name to country."
The matter along with others was discussed between Minister of State for Agriculture and Farmers Welfare S S Ahluwalia and a delegation headed by Thai Vice Minister of Commerce Winichi Chaemchaeng here.
"Currently the sector enjoys almost zero tax structure in most of the states with VAT reimbursement by the state governments and other tax relaxation on solar power plants," said Surender Pal Singh, Chairman, Solar Energy Equipment Manufacturers' Association of Telangana.
"TVS Srichakra Ltd and Sastra University have signed a MoU that aims to enhance the employability level of the unemployed engineering graduates living in Tier II and III cities in Tamil Nadu through a Finishing School Certificate Course", a company statement said.
The firm, which had forayed into two-wheeler segment in March, is also likely to start "discussing and debating" sometime next year on whether to start manufacturing the tyres on its own. It currently outsources manufacturing of two-wheeler tyres from a third party.