Daily Sector News Today – 01.08.2017
* AVIATION: Boeing has forecast demand for 2,100 new airplanes in India over the next 20 years, at an estimated value of $290 bln. Air India's current business is "not sustainable" as it is neither able to
generate enough cash flow nor start repaying even the principal amount on its debt, the government has told a parliamentary panel.
* BANKING: The Reserve Bank of India has revised portfolios of three deputy governors, following the retirement of S.S. Mundra, effective Monday.
* COMMODITY: The government plans to lift a decade-long ban on export of pulses in order to address the glut and support prices in the domestic market. The government has declined the proposal to lower the import duty on natural rubber, Commerce Minister Nirmala Sitharaman said.
* E-COMMERCE: The proposed merger between Snapdeal and Flipkart has come to an end with the
former calling off talks.
* OIL AND GAS: The government has authorised state-owned oil marketing companies to increase the price of subsidised cooking gas by 4 rupees per 14.2-kg cylinder with effect from Jun 1 until March 2018, in a bid to end subsidy on the fuel.
* PHARMACEUTICALS: The Cabinet Committee on Economic Affairs has decided to block China's Shanghai Fosun Pharmaceutical Group Co's proposed $1.3 bln takeover of Gland Pharma, sources said.
* TAXATION: The government has extended the deadline to e-file income tax returns for 2016-17 (AprMar) by five days to Aug 5.
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generate enough cash flow nor start repaying even the principal amount on its debt, the government has told a parliamentary panel.
* BANKING: The Reserve Bank of India has revised portfolios of three deputy governors, following the retirement of S.S. Mundra, effective Monday.
* COMMODITY: The government plans to lift a decade-long ban on export of pulses in order to address the glut and support prices in the domestic market. The government has declined the proposal to lower the import duty on natural rubber, Commerce Minister Nirmala Sitharaman said.
* E-COMMERCE: The proposed merger between Snapdeal and Flipkart has come to an end with the
former calling off talks.
* OIL AND GAS: The government has authorised state-owned oil marketing companies to increase the price of subsidised cooking gas by 4 rupees per 14.2-kg cylinder with effect from Jun 1 until March 2018, in a bid to end subsidy on the fuel.
* PHARMACEUTICALS: The Cabinet Committee on Economic Affairs has decided to block China's Shanghai Fosun Pharmaceutical Group Co's proposed $1.3 bln takeover of Gland Pharma, sources said.
* TAXATION: The government has extended the deadline to e-file income tax returns for 2016-17 (AprMar) by five days to Aug 5.
