Daily Sector News Today – 02.11.2017
* AUTOMOBILES: Hyundai Motor India, domestic vehicle sales were down 0.9% on year at 49,588 units in October.
* AVIATION: The Directorate General of Civil Aviation has floated draft regulations on civilian use of remotely piloted aircraft systems, or drones.
* BANKING: The government has formed a three-member panel, led by Finance Minister Arun Jaitley, to examine and clear merger proposals of public sector banks.
* COMMODITIES: The government may raise import duty on edible oils, allow exports of chana and masur, and impose customs duty on yellow peas to support prices of farm commodities in the domestic market.
* ECONOMY: A group of ministers constituted by the GST Council has suggested a uniform tax rate of 1% for traders, manufacturers, and restaurant services.
* ENERGY: The Global Environment Facility will provide $454 mln in funding for energy-
efficiency projects run by Energy Efficiency Services.
* FERTILISER: The Cabinet Committee on Economic Affairs has given retrospective approval to 100-bln-rupee loan arrangements for payment of fertiliser subsidy for 2016-17 (Apr-Mar).
* INFORMATION TECHNOLOGY: Cognizant Technology Solutions Corp has raised the lower end of its 2017 sales guidance range to $14.78 bln, from $14.70 bln.
* MANUFACTURING: The Punjab government plans to focus on manufacturing complex technological products such as electric vehicles and medical equipment to diversify the state's economy, currently dependent largely on agriculture.
* MEDIA: Television broadcasters have called for faster single window approvals for multi-system operator or local cable operator licences to improve the ease of doing business for broadcasting sector in the country.
* OIL & GAS: IL&FS is exploring a sale of its oil storage terminal located in the emirate of Fujairah due to the diplomatic standoff between the United Arab Emirates and Qatar. The price of cooking gas has been increased by 4.50 rupees per cylinder to 495.69 rupees.
The price of jet fuel or aviation turbine fuel has also been increased by 2% on rising international rates.
* PHARMACEUTICALS: DR REDDY'S LABORATORIES, GLENMARK PHARMACEUTICALS, SUN PHARMACEUTICAL INDUSTRIES, and Emcure Pharmaceuticals are facing allegations of a price-fixing conspiracy in the US.
* POWER: The power ministry has written to the Ministry of Environment, Forest and Climate Change, saying that the prescribed norms for cutting down emissions of sulphur dioxide and nitrogen oxide from power plants can be met only in phases.
* REAL ESTATE: The Allianz Group-Shapoorji Pallonji Group's joint platform for commercial properties has identified three assets spread over total 6 mln sq ft for investment across the country.
* REGULATORY: The Pension Fund Regulatory and Development Authority has raised the upper age limit for National Pension System to 65 years from 60 years earlier.
CLICK HERE
*********************************************************************************
* AVIATION: The Directorate General of Civil Aviation has floated draft regulations on civilian use of remotely piloted aircraft systems, or drones.
* BANKING: The government has formed a three-member panel, led by Finance Minister Arun Jaitley, to examine and clear merger proposals of public sector banks.
* COMMODITIES: The government may raise import duty on edible oils, allow exports of chana and masur, and impose customs duty on yellow peas to support prices of farm commodities in the domestic market.
* ECONOMY: A group of ministers constituted by the GST Council has suggested a uniform tax rate of 1% for traders, manufacturers, and restaurant services.
* ENERGY: The Global Environment Facility will provide $454 mln in funding for energy-
efficiency projects run by Energy Efficiency Services.
* FERTILISER: The Cabinet Committee on Economic Affairs has given retrospective approval to 100-bln-rupee loan arrangements for payment of fertiliser subsidy for 2016-17 (Apr-Mar).
* INFORMATION TECHNOLOGY: Cognizant Technology Solutions Corp has raised the lower end of its 2017 sales guidance range to $14.78 bln, from $14.70 bln.
* MANUFACTURING: The Punjab government plans to focus on manufacturing complex technological products such as electric vehicles and medical equipment to diversify the state's economy, currently dependent largely on agriculture.
* MEDIA: Television broadcasters have called for faster single window approvals for multi-system operator or local cable operator licences to improve the ease of doing business for broadcasting sector in the country.
* OIL & GAS: IL&FS is exploring a sale of its oil storage terminal located in the emirate of Fujairah due to the diplomatic standoff between the United Arab Emirates and Qatar. The price of cooking gas has been increased by 4.50 rupees per cylinder to 495.69 rupees.
The price of jet fuel or aviation turbine fuel has also been increased by 2% on rising international rates.
* PHARMACEUTICALS: DR REDDY'S LABORATORIES, GLENMARK PHARMACEUTICALS, SUN PHARMACEUTICAL INDUSTRIES, and Emcure Pharmaceuticals are facing allegations of a price-fixing conspiracy in the US.
* POWER: The power ministry has written to the Ministry of Environment, Forest and Climate Change, saying that the prescribed norms for cutting down emissions of sulphur dioxide and nitrogen oxide from power plants can be met only in phases.
* REAL ESTATE: The Allianz Group-Shapoorji Pallonji Group's joint platform for commercial properties has identified three assets spread over total 6 mln sq ft for investment across the country.
* REGULATORY: The Pension Fund Regulatory and Development Authority has raised the upper age limit for National Pension System to 65 years from 60 years earlier.
