Citizens' Issues
Kerala HC bans high decibel firecrackers at night

Firework displays during the day too should not exceed the decibel levels of 125-145

 

Two days after a fire tragedy in a temple killed 110 people, the Kerala High Court on Tuesday ordered a ban on exploding high decibel firecrackers at night.
 
Firework displays during the day too should not exceed the decibel levels of 125-145, a division bench of Justice Thottathil B. Radhakrishnan and Justice Anu Sivaraman said.
 
The court came down heavily on Kerala Police for failing to do its duty on Sunday when a massive blaze and explosion caused by fireworks led to the death of 110 people at a temple in Kollam district.
 
The judges wanted to know if the probe by the Crime Branch into the incident was enough or whether the Central Bureau of Investigation should probe the tragedy.

 

 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
 
 

User

India to grow 7.5% in FY16, 7.7 in FY17: Fitch

According to a report by Fitch Ratings, India's GDP growth is expected to gradually accelerate to 7.7% next fiscal and 7.9% in 2017-18

 

Global credit rating agency Fitch Ratings, maintaining its forecast of India's gross domestic product's (GDP) growth at 7.5% for 2015-16, expects the growth at 7.7 percent for next fiscal.
 
According to a report by Fitch Ratings, India's GDP growth is expected to gradually accelerate to 7.7% next fiscal and 7.9% in 2017-18.
 
"Real GDP growth in 4Q15 was primarily driven by private consumption, while the data showed slowing fixed investment growth and December industrial production declined 1.3% yoy (year-on-year)," Fitch Ratings said.
 
According to Fitch Ratings, the gradual recovery in FY17 and FY18 will be supported by higher real disposable income on the assumption that the monsoon would be normal and wage hike for central government employees.
 
"The gradual implementation of the structural reform agenda is expected to contribute to higher growth, even though progress is lacking so far on big ticket reforms such as the Land Acquisition Amendment Bill and the Goods and Services Tax."
 
While Fitch Ratings expects the cut in monetary policy rate by a total of 125 basis points since the start of 2015 to feed GDP growth, it further expects another 25 basis points cut in the rates.
 
Fitch Ratings expects another 25 basis points of monetary policy loosening, facilitated by the government's recent announcement to maintain its fiscal targets for FY17 and FY18.
 
"We expect the Reserve Bank of India to remain keen to avoid a significant deviation from the glide path to its inflation target, as it is still building a track record for its new monetary policy framework," the rating agency said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
 

User

India Ratings puts Tata Steel on rating watch

Tata Steel on Monday began the formal process of selling its British steel company

 

India Ratings and Research on Tuesday placed Tata Steel on rating watch following the latter's announcement of restructuring its loss-making European operations, including divestment of its UK businesses.
 
"India Ratings and Research (Ind-Ra) has placed Tata Steel Ltd's Long-Term Issuer Rating of 'IND AA' on Rating Watch Evolving (RWE). The outlook was Negative," the Fitch group company said.
 
"The agency has also placed the ratings on all of the company's debt instruments on RWE," the agency said, indicating thereby, that the ratings could be either upgraded, downgraded or affirmed.
 
"While cutting down losses by curtailing overseas operations would be a credit positive for TSL, the uncertain timelines associated with this goal could delay the expected recovery in its credit profile.
 
"The extent to which the UK businesses will be divested, the timeline over which this is achieved, the amount realised from such divestiture, the amount by which debt is reduced and deleveraging achieved will be key factors for determining whether any change in the ratings is warranted," it added.
 
Tata Steel on Monday began the formal process of selling its British steel company, announcing an agreement to sell its long products Europe business to investment firm Greybull Capital for a "nominal" consideration. The business employs 4,800 people -- 4,400 in Britain and 400 in France.
 
"The deal will be completed once a number of outstanding conditions have been resolved, including transfer of contracts, certain government approvals and the satisfactory completion of financing arrangements," Tata Steel said in a statement in London.
 
"Under these current challenging conditions in Europe with soaring levels of imports from China, we are happy Tata Steel UK and Greybull Capital have entered the final stage of completion of the sale of shareholding in long steel UK," said Hans Fischer, chief executive for Tata Europe.
 
Having suffered nearly $3 billion in losses on its UK operations, Tata Steel had said this month that it will explore options to put its entire portfolio there up for sale, some 10 years after it forayed into Europe by acquiring the Anglo-Dutch Corus for over $8.1 billion.
 
Ind-Ra said the rating approach factors in a one notch uplift for the company's strong operational and strategic linkages with the Tata Group, adding the sale of its UK businesses would enable the company to reduce losses substantially.
 
The business environment in the 2016 financial year continued to be aggravated by large scale imports of steel from Russia and China, it said.
 
The financial profile of the company has weakened and it essentially stems from the fall in realisations in both domestic and European operations, due to a weak demand together with large global overcapacity overhang, leading to a high level of cheap imports into India as well as Europe, it added.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
 

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)