Today Sector News – 18.01.2018
* BANKING: The 300-bln-rupee cut in the government's additional market borrowing for 2017-18 (Apr-Mar) announced could be explained by the possibility that the Reserve Bank of India may transfer extra surplus this year. The government is considering allowing 100% foreign direct investment in the banking sector.
* COMMODITIES: The Multi Commodity Exchange of India has received the Securities and Exchange Board of India's approval to launch the world's first brass futures contracts.
* DISINVESTMENT: The government is expected to sharply increase its asset sale target for the next financial year with about 36 companies lined up for strategic disinvestment.
* ECONOMY: Commerce and Industry Minister Suresh Prabhu said various countries were keen to invest in India. He added that chief executive officers from many nations are expected to meet Prime Minister Narendra Modi during the annual meeting of the World Economic Forum in Davos later this month.
- Finance ministers from the Congress-ruled states will push to include petroleum products and real estate sector in the goods and services tax during the GST Council meeting today.
* E-COMMERCE: The Delhi High Court has restrained Flipkart Internet from selling counterfeit Cosco goods on its ecommerce portal.
* INFORMATION TECHNOLOGY: Maharashtra has become the first state in India to put in place a cloud infrastructure policy, S.V.R. Srinivas, the state's principal secretary information technology, said.
* PHARMACEUTICALS: National Pharmaceutical Pricing Authority has fixed the retail price for 30 drug formulations, including those used for treatment of diabetes, bacterial infections and high blood pressure.
* REAL ESTATE: The Maharashtra Real Estate Regulatory Authority has formed a forum of 33 conciliators to set up 15 teams to take care of matters related to homebuyers from the Mumbai Metropolitan Region.
* REGULATORY: Price Waterhouse has moved the Securities Appellate Tribunal against the SEBI order barring firms in its network from auditing listed entities for two years.
* STEEL: ArcelorMittal USA, a subsidiary of ArcelorMittal, is seeking the enforcement of a $1.38-bln arbitration award against Essar Steel over a failed contract for supplying iron-ore pellets. The price of steel-making intermediaries such as sponge iron and pig iron have seen a sharp upward swing after a recent spurt in rates of iron ore and coal, two key inputs for these products.
* TELECOMMUNICATION: The Department of Telecommunications will be ready with the draft of the New Telecom Policy by Feb 15, the department's secretary, Aruna Sundararajan, said. Telecom Regulatory Authority of India will hold a meeting with the officials of telecom firms on Jan 23 to discuss issues that would be taken up during the year. Vodafone India added 1.50 mln users in December.
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* COMMODITIES: The Multi Commodity Exchange of India has received the Securities and Exchange Board of India's approval to launch the world's first brass futures contracts.
* DISINVESTMENT: The government is expected to sharply increase its asset sale target for the next financial year with about 36 companies lined up for strategic disinvestment.
* ECONOMY: Commerce and Industry Minister Suresh Prabhu said various countries were keen to invest in India. He added that chief executive officers from many nations are expected to meet Prime Minister Narendra Modi during the annual meeting of the World Economic Forum in Davos later this month.
- Finance ministers from the Congress-ruled states will push to include petroleum products and real estate sector in the goods and services tax during the GST Council meeting today.
* E-COMMERCE: The Delhi High Court has restrained Flipkart Internet from selling counterfeit Cosco goods on its ecommerce portal.
* INFORMATION TECHNOLOGY: Maharashtra has become the first state in India to put in place a cloud infrastructure policy, S.V.R. Srinivas, the state's principal secretary information technology, said.
* PHARMACEUTICALS: National Pharmaceutical Pricing Authority has fixed the retail price for 30 drug formulations, including those used for treatment of diabetes, bacterial infections and high blood pressure.
* REAL ESTATE: The Maharashtra Real Estate Regulatory Authority has formed a forum of 33 conciliators to set up 15 teams to take care of matters related to homebuyers from the Mumbai Metropolitan Region.
* REGULATORY: Price Waterhouse has moved the Securities Appellate Tribunal against the SEBI order barring firms in its network from auditing listed entities for two years.
* STEEL: ArcelorMittal USA, a subsidiary of ArcelorMittal, is seeking the enforcement of a $1.38-bln arbitration award against Essar Steel over a failed contract for supplying iron-ore pellets. The price of steel-making intermediaries such as sponge iron and pig iron have seen a sharp upward swing after a recent spurt in rates of iron ore and coal, two key inputs for these products.
* TELECOMMUNICATION: The Department of Telecommunications will be ready with the draft of the New Telecom Policy by Feb 15, the department's secretary, Aruna Sundararajan, said. Telecom Regulatory Authority of India will hold a meeting with the officials of telecom firms on Jan 23 to discuss issues that would be taken up during the year. Vodafone India added 1.50 mln users in December.
