Asian stocks subdued in morning trade
Asian markets outside Japan opened in green. Markets in Japan dropped in morning trade, tracking stronger yen. Overnight, the US stocks closed mostly lower. S&P 500 at 2,652 points is down 0.4%.
ITC to launch milk-based drinks from new Punjab plant
ITC Ltd is planning to launch a range of ready-to-drink milk-based beverages and frozen desserts from its new plant in Punjab to accelerate its dairy business, reports Mint.
Glenmark to file first specialty product with USFDA in March quarter
Glenmark Pharmaceuticals Ltd will file a new drug application for its first specialty product, a nasal spray to treat seasonal allergic rhinitis, with the US Food and Drug Administration (FDA) in the quarter ending March, reports Mint.
Centre to soon sanction sewage treatment units along Ganga tributaries
The government is expected to sanction sewage treatment plants (STPs) along some tributaries of the Ganga—Hindon, Ramganga, Gomti and Kali (East)—by the end of this month. Also, a 20 million litres a day (MLD) common effluent treatment plant (CETP) in Kanpur, reports Business Standard.
Hike in Karnataka iron ore mining cap to aid steel firms
The hike in iron ore mining cap in Karnataka will bring relief for the state’s steelmakers such as JSW Steel Ltd, smaller steel producers and pipe manufacturers, as they stand to benefit from increased availability of the raw material, reports Business Standard.
The Supreme Court on Thursday accepted the recommendations of the Central Empowered Committee for increasing the iron ore mining cap in three districts of Karnataka—Bellary, Tumkur and Chitradurga.
Tata group, GE partner to make aircraft engine components
Tata group and General Electric Co. (GE) have signed an agreement to build a new factory in Hyderabad to make engine parts for passenger jets, reports Mint.
Kerosene subsidy likely to be phased out by 2020
With the Centre’s flagship energy schemes Pradhan Mantri Ujjwala Yojana and Saubhagya set to achieve their targets in the next two years, the subsidy on kerosene is likely to be phased out by 2020, reports Business Standard.
Jaitley flags infrastructure, bank clean-up as priorities for govt
The government will boost spending on building infrastructure next year even as it continues to strengthen state-run banks, widen the tax base and rationalize taxes, said finance minister Arun Jaitley, reports Mint.
Exit polls project a BJP win in Gujarat, Himachal Pradesh
Lastly, exit polls on the Gujarat and Himachal Pradesh assembly elections project a saffron win in both the states. Counting of votes is scheduled to take place on 18 December. Read more