ECONOMY & NATION


Moneylife Digital Team 25 May 2016
Companies are hiving off their non-core assets in order to pare off their debt. SBI estimates that Rs2  lakh crores  of  asset  sales  are  in  the  pipeline/already completed by debt-ridden  companies  having  a  debt exposure of around Rs 10  lakh  crore. The report titled 'The Journey from...

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Moneylife Digital Team 25 May 2016
Companies are hiving off their non-core assets in order to pare off their debt. SBI estimates that Rs2  lakh crores  of  asset  sales  are  in  the  pipeline/already completed by debt-ridden  companies  having  a  debt exposure of around Rs 10  lakh  crore. The report titled 'The Journey from...

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Moneylife Digital Team 25 May 2016
After two consecutive years of deficient monsoons, the Indian Meteorological Department has projected above-normal rains in 2016.  But, monsoon forecasts by the IMD have been wrong in the past. Will a poor or below-average monsoon lead to higher food prices or will a good monsoon lower food...

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Moneylife Digital Team 25 May 2016
FedEx has acquired TNT Express. The €4.4 billion acquisition combines the strengths of the companies – the world’s largest air express network and an unparalleled European road network, which will expand the existing FedEx portfolio and reshape the global transportation and logistics...

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Moneylife Digital Team 25 May 2016
Well over a year after the Reserve bank of India (RBI) notified the Charter of consumer services, very little has changed. The code remains toothless, yet the RBI only talks about its issuance, nearly a year and half after it was formally announced.     “Very often, RBI has found that...

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Moneylife Digital Team 24 May 2016
The decision of TIL (formerly Tractors India Ltd) to hive off its Caterpillar dealership business, which is spread over India, Nepal and Singapore, to Delhi-based Goodearth Minetech Pvt Ltd (GMPL) for Rs350 crore is not in the interest of shareholders, as there is a conflict of interest. A...

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A decision to set up data centres in the country cannot be mandatory and it will be not be conducive for the eco-system, Niti Aayog CEO Amitabh Kant said on Tuesday.   "Decision to set up data centre in the country cannot be mandatory and it will be not be conducive for the...

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The Urban Development Ministry on Tuesday announced 13 winners of the fast-track Smart City competition, with Lucknow topping the list.   These cities can now compete to be a "Smart City" in the next cycle of "India Smart Cities Challenge".    Announcing the list, Urban...

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Moneylife Digital Team 24 May 2016
Electrical goods maker Havells India reported a revenue growth of 9% to Rs1,475 crore in Q4FY15-16 compared to Rs1,349 crore in the corresponding year-ago period. Its net profits rose by 200% to Rs366 crore from Rs122 crore. However, its growth in net profit was the result of an extraordinary...

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In his book In the Dock: Absurdities of Indian Law, published in 2000, Dr Bibek Debroy said, there are an estimated 25,000 statutes at the state level and 2,500-3,000 at the Central level that are old, dysfunctional and redundant and deserve to be junked. Speaking at a Moneylife Foundation...

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India's public debt declined marginally to Rs.55.73 lakh crore at the end of the last fiscal in March, registering a fall over the previous quarter of 0.04%, an official statement said on Monday.   Government debt (excluding liabilities under the Public Account) was at Rs 55.75 lakh...

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Moneylife Digital Team 23 May 2016
Imaging solutions and IT services company, Ricoh India's case is identical to the Satyam fraud as its revenues, receivables and inventories appear to be padded up, alleges Anil Singhvi, chairman of Ican Investment Advisors in a television interview. Despite several discrepancies in following...

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The micro, small and medium enterprises (MSMEs) are the largest vendors for the Union and State governments in defence, aeronautics, electronics, safe drinking water equipment and services, medical and pharmaceuticals, solar equipment and servicing. The MSME Development Act (MSMED) also...

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Soon after assuming office for the sixth time, Tamil Nadu Chief Minister J. Jayalalithaa on Monday signed orders writing off farm loans, and free power for first 100 units for domestic consumers and 750 units for handloom weavers -- to fulfill her poll promises.   Orders were also...

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Female contestants increased across the four states that went to polls recently - but not legislators - and three times as many women contested in Kerala compared to the 2011 elections, according to an IndiaSpend analysis of electoral data.   Two of the four states had incumbent women...

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India on Monday successfully tested home-grown winged reusable launch vehicle (RLV) as a mini-shuttle and demonstrated its space technology prowess, a senior official said.   "We have successfully accomplished the RLV mission as a technology demonstrator. The lift-off was at 7.00 a.m....

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Air India chief Ashwani Lohani said an incomplete Indian Airlines merger coupled with lack of leadership doubly jeopardised the national carrier.   "A merger that really never happened and in the process resulted in a chaotic situation is at the back of all ills that we are currently...

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Earlier this month, the National Democratic Alliance (NDA) marked the completion of two years in office, with the same planning and precision that it approaches its election campaigns. Specific ministers were dispatched to different cities to participate in discussions on the government’s...

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Moneylife Digital Team 20 May 2016
Nomura says its heat-map of high-frequency data indicates that the economic recovery remains uneven and divergence between weak private investment and rising consumption (urban) and slowing industry against a relatively robust service sector continues.    The Composite Leading Index...

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Moneylife Digital Team 20 May 2016
The rising non-performing assets (NPAs) in public sector undertaking (PSU) banks cannot be controlled unless there are changes in the regulation for fixing accountability of top management, says a bank employees' union.   "The chairman and managing directors (CMDs), executive...

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