NewsBites Issue 70.pdf - NEWSBITES 70 TH SEPT 8 The week's...

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Unformatted text preview: NEWSBITES 70, TH SEPT 8 The week's top headlines at a quick glance. MARKET TRENDS NIFTY SENSEX CURRENT RATES 10,946.2 36,981.77 Crude Oil 4,053 Gold (10g of 24K) FOREX 1 USD = GDP growth rate for 18-19 Statutory Liquid Ratio (SLR) Cash Reserve Ratio (CRR) 38,566 Repo Rate ₹ 71.73 Reverse Repo Rate As on Friday, 3:30 pm 6.8% 18.75% 4% 5.4% 5.15% NATIONAL ISRO has said that 90-95% of Chandrayaan2 mission's objectives have been accomplished despite the loss of PM inaugurates India's first greenfield industrial smart city AURIC communication with Vikram lander. The orbiter inaugurated has already been placed in its intended orbit Industrial City (AURIC), India's first greenfield and the industrial smart city. The utilities in the city will will be shall Moon's enrich our evolution. understanding The orbiter of camera Prime Minister the managed Centre, useful to global scientific community. administrative has pushed foundries to the brink. which AURIC city the is on housed part Saturday Aurangabad Command building is Modi 10,000-acre by provide high resolution images which will be Forging industry on the brink as slowdown bites. The slowdown gripping the auto sector Narendra and Control in the five-storey called the Auric of the Hall. Delhi-Mumbai Industrial Corridor. Declining auto sales have resulted in a deterioration in demand for forgings, which could impact jobs unless things improve BUSINESS Reliance Industries Ltd is looking to buy fashion and child-focused retailers abroad and partner with global sports & beauty brands Homegrown auto major Mahindra & Mahindra has deferred ₹1,000 crore of its as part of its expansion into consumer markets planned wrapped up its first international acquisition in capex to slowdown in does return not the cope auto to with the sector. positive If prolonged the growth where it so far does not have a presence.It also industry May, buying Hamleys, for $88.5 million. Reliance for the Brands already runs high-end stores in India the with some 40 foreign partners, including British sector may see more layoffs as almost every label Burberry , shoemaker Steve Madden and carmaker is overstaffed, based on the current New level of production. through joint ventures and franchises. remaining months in the current fiscal, York-based Iconix Brand Group Canara Bank, on Friday said that the bank is ESFB cannot be acceded to'. The Reserve Bank seeking of India (RBI) has turned down a proposal by expressions of interest from prospective buyers to purchase 30% stake in Homes exchanges, the Ltd. bank In a said notice that it to the intends to divest 3.9 lakh equity shares of the face value of Rs. 21 each. Equitas Holdings seeking extension of the listing deadline for its subsidiary Equitas Small Finance Bank (ESFB) and ordered freezing of the small finance bank's chief executive’s remuneration at the existing level. cleared crore with a PNB. capital by the allotment of Besides, infusion shares the of government equity is resulting expanding in longer its flights content.The footprint for its globally passengers calling for the need to provide entertainment content onboard. The airline top brass says that 50% of its new destinations in 2019 will be international ones. PNB up for of Rs 12,000 crore to boost their capital base and meet regulatory norms due to their weak struggling financial to conditions. maintain their They solvency are ratio, which is a key financial metric to decide its debt obligations. As against the Insurance Regulatory and Development Authority's (IRDA) solvency ratio norm of 1.5, National Insurance has a solvency ratio of 1.5, while United India's infusion, to become the largest insurance company in the country board RBI asked banks to link all new floating-rate loans for housing, personal and MSMEs to preferential the worth capital 18,000 to funds insurance companies will be merged after the of Oriental Bank of Commerce and United Bank India airline entertainment level is comparatively lower at 1.21. The three The board of Punjab National Bank (PNB) has given in-principle approval for amalgamation of passengers National Insurance, Oriental Insurance and United India Insurance are to be infused with Canara Bank seeking EOIs from prospective RBI told Equitas that 'its request for buyers. extension of timeline for listing of share of Fin offer Inc, BANKING Can IndiGo announced its partnership with online video streaming service SonyLIV to bank at a external benchmark based interest rate from 1 price determined in terms of SEBI regulations.T October. It has also asked banks to link all new floating-rate loans for housing, personal and MSMEs to external benchmark based interest rate from 1 October. INTERNATIONAL State officials across the US prepared antitrust investigations into both Facebook and Google to verify any attempt made to US job growth slowed to its weakest level in three months in August despite a boost from stifle competition and manipulate consumers. uncertainty stemming from the US-China trade Few technology companies have paid billions war of EU. fewer jobs due to the downward revision to job senator growth in the late two months. US economy euros for Elizabeth antitrust Warren, violations the in the Democratic temporary hiring weighed could up Facebook, Amazon and Google if consumer spending. next year, while the Federal Trade Commission has launched its own antitrust probe into Facebook. Iran begins using new centrifuges to enrich uranium Iran nuclear agency spokesman, has using advanced centrifuges the step uranium - the latest country in Behrouz labour momentum workers, market. as 20,000 despite strong China to protect the “rights and freedoms” of the people of Hong Kong and warned against Seven South American countries have signed a any violent crackdown on protesters during the pact called on and the Basic Law granting Hong Kong a high has begun degree of autonomy from Beijing. Ms Merkel’s to enrich 12th visit to China as chancellor comes at a reducing census 7 nations sign Amazon rain forest preservation pact amid fires German chancellor Angela Merkel unrest. She is for “ one country-two systems”, Kamalvandi new said advanced losing the running for president, has said she would break elected be on for its sensitive time, with Germany on the brink of commitments under the 2015 nuclear deal with recession, its economy buffeted by fears of a world powers. hard Brexit and Sino-American trade tensions. to protect the Amazon amid global concerns over massive fires in the rainforest. Bolivia, Brazil, Colombia, Ecuador, Guyana, Peru and Suriname signed the pact, to set up a disaster response network and satellite monitoring, at a summit. More than 80,000 fires have broken out in the Amazon rainforest this year. ...
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