Saturday, Jan 18, 2020 | Last Update : 11:55 PM IST

Economy

FIEO Director General Ajay Sahai said the global situation is likely to improve in the first half of 2020, which would have a positive impact on India's exports.

Exports to rebound in 2020 but growth to remain subdued

Commerce Secretary Anup Wadhawan said the current slowdown in exports is mainly due to a decline in petroleum products.

The RBI minutes from October policy review underscored the monetary policy committee members' unanimous decision to keep rates lower.

RBI may cut rates in December: report

A modest overshoot in recent inflation outruns is outweighed by downside risks to RBI's growth estimates.

Of the five mines, two were allocated to Birla Corporation Ltd and one each to Vedanta Ltd, Prakash Industries Ltd and Powerplus Traders Pvt Ltd.

Govt approves allocation of 5 coal blocks, to generate Rs 17,136 cr revenue

The ministry of coal, after a long gap of four years, has approved the allocation of five coal mines, the ministry said in a statement.

The appointment of Patra, who is currently an executive director at the central bank.

Govt appoints Michael Patra as RBI Deputy Governor

Patra will serve as the deputy governor for three years from the time of his appointment.

In the reporting week, the rise in reserves was mainly on account of an increase in foreign currency assets, a major component of the overall reserves, which surged by USD 1.891 billion to USD 421.258 billion, according to the data.

Forex reserves soar to touch all-time high of USD 453 billion

The country's reserve position with the International Monetary Fund also increased by USD 15 million to USD 3.644 billion, the data showed.

Market

As US-Iran tensions eased, Brent crude oil futures traded around $65 a barrel, a fall from $70-plus.

Nifty-50 at new high as hopes soar

The Nifty crossed the 12,300-mark and touched a new peak of 12,311.20.

Tthe broader NSE Nifty dropped 59.60 points or 0.49 per cent to 11,993.35. (Photo: File)

Sensex tanks over 350 points on US-Iran conflict; Nifty below 12,000

After hitting a low of 40,476.55, the 30-share BSE index pared some losses to trade 193.98 points or 0.47 per cent lower at 40,675.49.

Tata Steel was the top gainer in the Sensex pack, surging 4.38 per cent, followed by Bharti Airtel 4.37 per cent, Vedanta 3.50 per cent, Tata Motors 3.03 per cent, HDFC 2.46 per cent and Bajaj Finance 2.39 per cent. (Photo: File | PTI)

Sensex, Nifty hit lifetime peaks; metal, financial stocks hog limelight

BSE Sensex closed 413.45 points, or 1.01 per cent, higher at its all-time high of 41,352.17.

The broader NSE Nifty advanced 13.10 points or 0.11 per cent to 12,275.85.

Sensex, Nifty start on a cautious note

The 30-share BSE index was trading 39.84 points or 0.10 per cent higher at 41,682.50.

Companies

The five electrical cirlces constituting CESU are the areas of Bhubaneswar (Electrical Circle - I and II), Cuttack, Paradip and Dhenkanal.

Tata Power to get licence for distribution, supply of power in 5 circles in Odisha

The shares of Tata Power were trading at Rs 55.50, up 0.18 per cent on the BSE in morning trade.

Mistry said his company, the diversified Shapoorji Pallonji group, would seek to appoint a member on the board of Tata Sons.

Former Tata chairman says he will not seek chairmanship of Tata Sons

Mistry was sacked in 2016 from the top job at the helm of the holding company after he fell out with group patriarch Ratan Tata.

The airline operates over 200 flights per day to domestic and international destinations with a fleet of 57 aircraft.

GoAir cancels 19 flights across destinations

GoAir has reported a series of mid-air incidents of engine glitches, leading to the grounding of planes with such engines.

The board for now has given its go-ahead to raise up to USD 3 billion. (Photo: PTI)

Bharti Airtel board approves raising up to USD 4 billion

The company has received an approval to raise USD 1 billion through foreign debt instrument.

The expansion is a big step to uplift the retail business in that region.

ePaisa expands its POS solution in the West Bengal market

The cloud-based POS comes with the new Retail OS with much more upgraded features.

Autos

The scooter comes in a splendid three-tone combination of matte black, metallic black and metallic red colour.

TVS launches NTORQ 125 Race Edition in SL

The scooter comes in a splendid three-tone combination of matte black, metallic black and metallic red colour.

The BS6 Apache RTR 200 4V, meanwhile, now costs Rs 1.24 lakh at pan Indian showroom.

TVS Motor drives in new Apache range

The Apache RTR 160 4V (drum) has been launched at Rs 99,950, while the RTR 160 4V (disc) has been priced at Rs 1.03 lakh.

While other manufacturers resorted to increasing the price of their models due to the mandatory inclusion of ABS/CBS, Bajaj decided to offer a sporty motorcycle at an affordable price tag.

The smallest Pulsar punches the hardest with 40,000 sales in 2 months

Pulsar 125 is the most affordable Pulsar available right now.

The deliveries of Chetak, which comes at a starting price of Rs 1 lakh, will commence from February end, the company said.

Bajaj Auto launches Chetak electric scooter; bookings start from Jan 15

The electric variant of the iconic Chetak will initially be available in Pune and Bengaluru.

In Other News

Increase in pendency is making fewer consumers approach ombudsmen for their complaints against insurance companies.

Fewer people approach insurance ombudsmen

Despite the number of consumer complaints rising, those being filed with the ombudsmen has been coming down.

Life insurance companies clocked 17 per cent retail annualised premium equivalent (APE) during April-December to Rs 43,943 crore.

LIC’s new biz rises 18 per cent

Private life insurers clock a growth of 16 per cent to Rs 24,631 crore during April-December.

The good news is that the US-Iran conflict is yet to affect payment and orders from Iran, which has recently emerged as the top export destination for Indian tea, unseating Russia.

Iran tensions keep tea exporters anxious

Iranian tea buyers are still placing orders and negotiating contracts for high-quality orthodox tea.

India ordered an investigation of Amazon.com Inc and Walmart’s Flipkart on Monday over alleged violations of competition law in the latest setback for US e-commerce giants operating in the country.

Antitrust probe ordered against Amazon, Flipkart

Flipkart is “fully compliant” with all laws and is currently reviewing the CCI order, senior vice president Rajneesh Kumar said.

Soon, if your insurer delays settling your health insurance claim beyond 30 days from the date of submitting the last necessary document, it shall be liable to pay penal interest at 2 per cent above the bank rate.

Uniform health cover terms on the cards

All stakeholders have been asked to submit their comments/suggestions on the proposed guidelines by January 25.