New Delhi

Single brand FDI rules eased ahead of Modi’s Davos visit

Prime minister Narandra Modi is set to steal the show when he debuts at the global investor jamboree at Davos later this month. Just a week before the global annual meet of world industry and political leaders, Modi allowed 100 per cent FDI in single brand retail through automatic route, opening the door wide open to international players keen on entering the fast growing Indian market.

Film are not charity or NGO: Anurag Kashyap

Films loaded with social message may be the trend in the industry but Anurag Kashyap believes filmmakers should not be expected to deliver a message through their movies. The director, whose upcoming film “Mukkabaaz” promotes sports in its own way, said as a filmmaker his aim is never to address a social issue.

Fruit-based aerated drinks to be cheaper

Fruit-based aerated drinks could become cheaper soon as the government is actively considering a proposal from the food ministry to remove 12 per cent cess levied on them. Fruit-based aerated drinks attract 28 per cent GST with an additional 12 per cent cess, taking the total levy to 40 per cent.

Besides giving relief to consumers, the move is set to help fruit growers get better price for their produce. Beverage manufacturers like Parle Agro, Dabur and Del Monte Foods are set to gain from the proposed move as a price cut will boost consumption.

Govt's 'gross economic mismanagement' responsible for economic slowdown: Cong

The Congress said today that the government's "gross economic mismanagement" was responsible for slowdown in India's economy as it took a swipe at Prime Minister Narendra Modi, saying "innate wisdom of Modinomics needs no counsel".

Congress communications incharge Randeep Surjewala said the Economic Advisory Council (EAC) was "virtually non- functional" to assess the economy.

"The Modi government cannot shirk from the responsibility of gross economic mismanagement that it inflicted upon the country's robust economy," he said.

Business of Brands

Own a hotel and use a big brand to run it, is what SAMHI does and based on the upcycle or downcycle of the market, branding or rebranding is done in the world of hospitality. 

Taking cues from Host Hotels US, the largest publicly traded Real Estate Investment Trusts (REIT), SAMHI, a privately owned hotel asset company that develops, acquires and owns branded hotels and sees big opportunity in Indian market despite a downcycle in hospitality sector.

South Indian Bank Q3 net rises 3% to Rs 115 crore

Private sector South Indian Bank on Tuesday posted a 3.25 per cent rise in net profit at Rs 115 crore for the third quarter ended December 2017. The bank had posted a net profit of Rs 111.38 crore in the year-ago quarter.

Total income decreased to Rs 1,735.77 crore during the quarter against Rs 1,737.47 crore in the year-ago period, the banks said in a stock exchange filing.

The gross non-performing assets (NPAs) of the bank declined to 3.4 per cent of the total advances from 3.98 per cent.

Rs 6,000 cr Bharat-22 ETF round II fund raising likely in Feb

Buoyed by success of the first tranche of receipts, the finance ministry is finalising plans to launch another round of fund raising thro­ugh the exchange-traded fund (ETF) Bharat-22.

It plans to raise about Rs 6,000 crore and bridge the shortfall in government revenues to tide over the fiscal deficit. The second round is likely to be launched by the middle of February and the government is hopeful about a similar response as in the first tranche, sources said.

Rs 6,000 cr Bharat-22 ETF round II fund raising likely in Feb

Buoyed by success of the first tranche of receipts, the finance ministry is finalising plans to launch another round of fund raising thro­ugh the exchange-traded fund (ETF) Bharat-22.

It plans to raise about Rs 6,000 crore and bridge the shortfall in government revenues to tide over the fiscal deficit. The second round is likely to be launched by the middle of February and the government is hopeful about a similar response as in the first tranche, sources said.

DoT relaxes curbs on spectrum trade, holdings

The Department of Telecom (DoT) on Tuesday approved regulator Trai’s recommendations on relaxing the spectrum caps in a circle or in bands, a decision that would facilitate smooth consolidation and spectrum trading in the highly competitive telecom sector.

Govt asks CPSEs to consider taking over stressed infra assets under IBC

The government is improving the terms of endearment as far as stressed assets are concerned.

It has asked infrastructure sector public sector enterprises such as SAIL, NTPC, NMDC to consider taking over stressed power and steel assets brought up for bidding by resolution professions under the terms of Insolvency and Bankruptcy Code (IBC).

Sources said the Centre is pushing for PSUs’ participation in resolution process after public sector banks (PSBs) nudged it to get their active involvement to prevent them from taking deep haircuts on outstanding loans.

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