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Mar 12, 2018 07:00 PM IST | Source: Moneycontrol.com
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highlights
January IIP at 7.5 percent vs 7.1 percent in December.
February CPI inflation at 4.44 percent vs 5.07 percent in January.
DGCA grounds Airbus A320neos of IndiGo and GoAir
Jammu and Kashmir Finance Minister Haseeb Drabu has been removed from the state’s Cabinet for remark that Kashmir is not a political issue, CNBC TV18 has reported.
Bill on chit funds sector introduced in Lok Sabha
Parliament proceedings disrupted by protests, economic offenders bill introduced amid din
Japan's Coincheck to start repaying customers after digital money heist
Govt tables Fugitive Economic Offenders Bill to impound, sell assets of absconding fraudsters
INX Media case: Karti Chidambaram sent to jail till March 24
Cryptocurrency scammers run off with over $2m after ditching investors
SC to auction Unitech properties to refund homebuyers
Crypto exch Binance offers a $250,000 bounty for hacker tip-offs
Excl: I-T Dept uncovers Rs 5,200cr fake diamond receipts; Mehul Choksi, Nirav Modi may be party to scam
Passenger vehicle sales rise 7.77% in Feb, car sales up 3.7%
Kim Jong Un wants a peace treaty from Trump, says report
Exclusive: Bike cos offer cheaper mini clones of superbikes
Deutsche Bank values asset management up to $9bn in IPO
How Blackstone turned India into its most profitable market
China, Hong Kong, Canada at risk of banking crisis, says BIS
Xiaomi to launch six smartphones in India in 2018
Elon Musk says Mars spaceship will be ready for short trips by H1 2019
JSW Steel may raise $1bn via overseas bonds to acquire distressed assets
Foreign investors pull out about Rs 6,000cr in March so far
'No deal' Brexit could cost UK, EU companies $80bn
55K farmers to lay siege to Vidhan Bhavan, SSC students asked to reach exams centres early
Stepping up the heat on former finance minister P Chidambaram, the government today said it will take action against the persons who relaxed gold import norms for private trading houses during the dying days of the UPA regime resulting in a windfall of Rs 4,500 crore to 13 such entities in just six months.
The ruling BJP had earlier this month accused Chidambaram of aiding jewellers Mehul Choksi and Nirav Modi -- main accused in the country's biggest bank fraud case -- through an 80:20 gold import scheme.
Without naming any of the jewellers who may have benefited from the scheme, the government said in a statement that it had taken the "bold" step to scrap the scheme within months of coming to power to end all discrimination in the favour of private gold importers.
Around 50 people died after the US-Bangla Airlines plane they were travelling in crashed while landing at the international airport in Kathmandu, Nepal on Monday afternoon.
There were 71 people on board the plane arriving from Dhaka when it clipped the fence at the airport and burst into flames, said Raj Kumar Chettri, general manager of the hill-ringed airport.
Those aboard included 33 Nepali passengers, 32 Bangladeshis, one passenger from China and one from the Maldives.
"We have recovered 50 dead bodies so far," said army spokesman Gokul Bhandari. Although several people had been rescued from the wreckage of the Bombardier Q400 series aircraft, nine people were still unaccounted for, he added.
Infosys to voluntarily delist from Euronext Paris and Euronext London exchanges
Infosys has said that it will voluntarily delist from Euronext Paris and Euronext London exchanges.
The company has said that the primary reason for seeking delisting is low average daily trading volume.
Infosys has said that the average daily trading volume at these exchanges are significantly lower than the New York Stock Exchange (NYSE), CNBC TV18 has reported.
The company has also said that it would continue to be listed on the NYSE.
EU hits out at trade 'bullies' as Trump row deepens
The EU's top trade official today said Europe would stand up to intimidation by protectionists, as a row with US President Donald Trump over controversial steel and aluminium tariffs heated up.
"In some places trade has been to blame for the pains of globalisation or they used it as a scapegoat or they think we can live behind walls and borders," European Trade Commissioner Cecilia Malmstroem said at a conference in Brussels.
January IIP at 7.5 percent vs 7.1 percent in December.
February CPI inflation at 4.44 percent vs 5.07 percent in January.
Sources say GST being evaded via black marketing, undervaluing imports
Less than nine months into the GST regime, revenue authorities have detected rampant tax evasion through black market and under-valuing of imports.
Big data analytics by the authorities has revealed that although importers are paying GST, they are supplying the goods without bill, sources told PTI.
Rise in home sales, dip in QTS indicate market recovery: ICRA
In what can be seen as a possible recovery in the housing market, sales improved by 29.3 percent year-on-year during the April to December period last year, while the time taken to clear the inventory went down to 12 quarters, according to an ICRA report.
Real estate companies sold 17.26 million sq ft during the nine months, against 13.35 million sq ft in the year-ago period, according to rating agency, which considered a sample size of 11 listed entities.
No data maintained of fake education boards: HRD Ministry
The HRD Ministry today said it does not maintain any data of fake education boards found functioning in the country.
The minister of State for HRD, Upendra Kushwaha, said in a written response to a question in Lok Sabha that "some instances of functioning of fake education boards have come to the notice of the Ministry".
DGCA grounds IndiGo and GoAir Airbus A320neos
The DGCA has grounded few Airbus A320neos. DGCA has grounded eight A320neos belonging to IndiGo and three of GoAir, fitted with Pratt & Whitney engines. DGCA has asks both airlines to ground planes till further notice, according to a report by CNBC TV18.
DGCA has said that the planes have been grounded in light of 'occurrences of aborted take-off and in flight shutdown' on A320neo's powered by Pratt & Whitney engines.
The civil aviation authority has said that no concrete proposal has been given by Pratt & Whitney yet on when the engine woes will be resolved.
Senior Samajwadi Party (SP) leader Naresh Agrawal has joined the Bharatiya Janata Party (BJP) in presence of Union Minister Piyush Goyal at the BJP headquarters in Delhi.
Vodafone likely to launch VoLTE in Tamil Nadu this year
Telecom service provider Vodafone today indicated of launching the Voice over LTE (VoLTE) service in Tamil Nadu during this year, according to a top official.
Asked whether roll out of VoLTE service would happen this year, Vodafone, Tamil Nadu, Business-Head, S Murali said, "(we) should be (launching it)".
"You will get to know (once we launch VoLTE service). We have launched it (VoLTE service) in many parts of the country", he said declining to elaborate.
Some of the cities Vodafone offers VoLTE services include Mumbai, Gujarat, Delhi, Karnataka and Kolkata. (PTI)
Kathmandu plane crash update: The Associated Press has reported Nepal police official as saying that at least 38 have been killed and 23 have been injured in the plane crash in Kathmandu. The police added that 10 people are still unaccounted for.
Jammu and Kashmir Finance Minister Haseeb Drabu has been removed from the state’s Cabinet for remark that Kashmir is not a political issue, CNBC TV18 has reported.
Bill on chit funds sector introduced in Lok Sabha
A Bill to streamline and strengthen the chit fund sector was introduced in the Lok Sabha today which mandates video conferencing while the opening of bids and seeks to hike commission of foremen from 5 percent to 7 percent.
The Chit Funds (Amendment) Bill, 2018 is based on the recommendations of the Parliamentary Standing Committee on Finance and the Advisory Groups on Chit Funds set up by the central government.
The Amendment Bill provides for allowing the mandatory presence of two subscribers, as required either in person or through video conferencing duly recorded by the foreman, while the bids are being opened. (PTI)
Here are the top headlines at 4 pm from Moneycontrol News' Sakshi Batra
Parliament proceedings disrupted by protests, economic offenders bill introduced amid din
The proceedings in both Houses of Parliament were stalled for the sixth day today with no let-up in protests by opposition parties and NDA ally TDP over various issues including the banking scam, special status to Andhra Pradesh and the Cauvery water dispute.
The Aam Aadmi Party too joined the protests in Rajya Sabha, demanding an end to the sealing drive in Delhi.
Amid the din in Lok Sabha, Minister of State for Finance Shiv Pratap Shukla introduced The Fugitive Economic Offenders Bill 2018 that seeks to confiscate all assets of absconding fraudsters and loan defaulters for recovering dues from them. (PTI)
The Sensex spurts 610.80 points to close at 33,917.94, logging its biggest single-day gain since March 2016. The Nifty rose 194.55 points to 10,421.40.
Parliament proceedings disrupted by protests, Economic Offenders Bill introduced amid din
The proceedings in both Houses of Parliament were stalled for the sixth day today with no let up in protests by opposition parties and NDA ally TDP over various issues including the banking scam, special status to Andhra Pradesh and the Cauvery water dispute, reports PTI. The Aam Aadmi Party too joined the protests in Rajya Sabha, demanding an end to the sealing drive in Delhi.
Amid the din in Lok Sabha, Minister of State for Finance Shiv Pratap Shukla introduced The Fugitive Economic Offenders Bill 2018, that seeks to confiscate all assets of absconding fraudsters and loan defaulters for recovering dues from them. The Minister also introduced the The Chit Funds (Amendment) Bill 2018.
A Metro train moves across the new Majlis Park and Durgabai Deshmukh South Campus Metro section during a media preview in New Delhi on Monday. Majlis Park-Shiv Vihar corridor (Line 7) of the metro network, also known as the Pink Line, is part of the Phase-III project. PTI
Syria war has killed more than 350,000 in 7 years: monitor
Seven years of conflict in Syria have left 353,395 people dead since March 15, 2011, according to an updated overall death toll released today by the Syrian Observatory for Human Rights. (AFP)
Airtel to raise Rs 16,500 cr for refinancing debt, spectrum payment
Telecom major Bharti Airtel received approval from the board to raise up to Rs 16,500 crore for refinancing debt and paying for spectrum liabilities. The board approved "issuance of non-convertible debentures (NCDs) of up to Rs 10,000 crore on a private placement basis" and "issuance of foreign currency bonds up to a limit of $1 billion or equivalent in one or more tranches", Airtel said in a regulatory filing.
Japan's Coincheck to start repaying customers after digital money heist
Japanese cryptocurrency exchange Coincheck, reeling from government reprimands over lax standards after $530 million dollar theft of digital money, said it would from Monday start repaying customers affected by the heist, reports Reuters. Coincheck also plans to lift curbs from Monday on the trading and withdrawal of some cryptocurrencies, including bitcoin, that it had imposed as it investigated the late-January heist.
Here are the top headlines at 3 pm from Moneycontrol News' Sakshi Batra
L&T JV bags Rs 442cr order for supply of forgings for nuclear steam generators
Larsen & Toubro (L&T) said its joint venture with Nuclear Power Corporation of India (NPCIL), had received Rs 442 crore order for supply of forgings for nuclear steam generators. These forgings will be used in the manufacturing of the critical equipment for six new indigenous pressurised heavy water reactors, it said in a regulatory filing.
A Bangladeshi passenger plane with 78 on board has crashed in Kathmandu after becoming unstable while descending. Several casualties are feared. In news just in, 17 passengers have been rescued.
Govt tables Fugitive Economic Offenders Bill to impound, sell assets of absconding fraudsters
The government tabled a bill that seeks to confiscate all the assets of absconding fraudsters and loan defaulters for recovering dues from them, reports PTI. The Fugitive Economic Offenders Bill 2018 aims to impound and sell assets of fugitives such as Nirav Modi, who is alleged to be behind the nearly Rs 12,700 crore fraud at Punjab National Bank.
The law will apply to defaulters who have an outstanding of Rs 100 crore or more and have escaped from the country. The Bill tabled in the Lok Sabha provides for "measures to deter fugitive economic offenders from evading the process of law in India by staying outside the jurisdiction of Indian courts, to preserve the sanctity of the rule of law in India and for matters connected therewith or incidental thereto".
Meena, Yadav, Saini are BJP candidates for RS polls from Rajasthan
Tribal leader and MLA Kirori Meena, sitting Rajya Sabha MP Bhupendra Yadav and veteran party leader Madan Lal Saini filed nominations as the BJP candidates for the biennial Rajya Sabha elections from Rajasthan, reports PTI. Meena, who had separated from the BJP in 2008 , re-joined the party on Sunday along with his two National People’s Party (NPP) MLAs. He, as the state president of NPP, which he had joined in 2013, also merged his party with the BJP.