Today's Sector News – 03.07.2019

Today's Sector News – 03.07.2019 
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* AVIATION: The Directorate General of Civil Aviation has released a set of guidelines for airlines to ensure safe operations after several passenger planes skidded off runways at various airports in the midst of the ongoing monsoon season.

* BANKING: The government is considering shifting the regulation of housing finance companies from the National Housing Board to the Reserve Bank of India.

* ENERGY: The Organization of the Petroleum Exporting Countries and its allies have formally agreed to extend their production cuts till March to support oil prices.

* FUNDS: The Employees' Provident Fund Organisation has rejected a request from portfolio managers to withdraw the newly-introduced clause in its tender document barring them from investing retirement fund body's corpus in group companies, a senior government official said.

* STEEL: Essar Steel has signed a memorandum of understanding with Posco Steel to supply the Korean steel maker's Indian arm 1 mln tn hot rolled products worth close to 50 bln rupees, a senior Posco executive said.

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