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Any wage hike should also be seen from industry’s perspective: SP Mukherjee, head, wage panel

The CPI is of course not regional, neither is at state-wise. It takes into account some categories of workers, but those categories are not relevant for fixing minimum wages. So, the panel can’t be

SP Mukherjee

Bond yields end higher on rising crude

Rising Brent crude oil prices will put pressure on inflation as India imports a heavy supply of crude oil requirements from the international market from a mix of oil-producing countries.

bond yields

Telecom reforms 2.0: Govt may withdraw Rs 40k-cr spectrum charge case

Bharti Airtel and Vodafone Idea to benefit the most from the move

airtel business, cisco

Rating at Baa3: Moody’s upgrades India outlook to ‘stable’

Cites 'receding downside risk' to the financial system

Moody's ratings

Invesco plea: NCLT asks ZEE to file reply by October 7

Since ZEEL now knows all arguments of the petitioners, a “simple counter reply” is what is needed, the NCLT said, even as ZEEL counsels sought more time, at least till Friday.

ZEEL’s board, which met on Tuesday, also authorised its management to start a due diligence process for the merger.

Power outage threat: Govt, coal producers on war footing over fuel shortage

The Union coal ministry said on Tuesday that it has amended the Mineral Concession Rules, 1960, to allow open market sale of up to 50% coal produced from captive mines against additional payment to st

The coal minister also reviewed the performance of Coal India arm Northern Coalfields Ltd (NCL) and directed it to ramp up production and load at least 34 rakes of the dry fuel daily.

Byju’s valuation touches $18 bn

The market size of Indian edtech sector is estimated to grow by 3.7 times in the next five years, to touch $10.4 billion by 2025 from $2.8 billion in 2020, according to a recent report by EY-IVCA.

byju-raveendran

MG-NREGS data: Demand for work at 17-month low

Official data showed only 2.86 crore persons demanded work in September compared with 3.59 crore in March 2021, 4 crore in April, 4.15 crore in May, 5 crore in June, 4.26 crore in July and 3.21 crore

MGNREGS data

Payment defaults: RBI supersedes boards of two Srei companies

The regulator also intends to shortly initiate the process of resolution of the NBFCs under the Insolvency and Bankruptcy Rules, 2019.

rbi srei

Invesco urges NCLT to order Zee EGM

The NCLT will continue to hear the case on Tuesday as power outage disrupted the proceedings on Monday.

zee entertainment

Real estate projects: Apex court stresses on need for model builder-buyer agreement

A bench comprising Justices DY Chandrachud and BV Nagarathna issued a notice to the Centre on a batch of public interest litigations on the lack of a uniform form for agreements entered into between b

Real Estate

Kharif season 2021: As FCI stocks pile up, Centre prunes paddy purchases at MSP

For FY22, the food subsidy has been estimated at Rs 2.42 lakh crore while the revised estimate of FY21 was raised to Rs 4.23 lakh crore from Rs 1.16 lakh crore (BE).

Foodgrain 01

Asset monetisation: NTPC plans to float IPOs; to list three subsidiaries, exit joint venture with SAIL

NTPC had acquired 100% equity in NEEPCO, which is primarily engaged in generating and supplying electricity in the northeastern region, from the Government of India in March, 2020.

NTPC subsidiary

Special purpose vehicle for non-core assets to draw talent from private sector

These units have been unable to attain closure due to various reasons including delay in disposal of immovable assets such as 15,000 acres of land across the country.

India Jobs

Inopportune step: Rs 3,050-crore penalty on Bharti Airtel and Vodafone Idea revives legal dispute

Operators like Bharti Airtel and Vodafone Idea received a jolt when on September 30, the DoT sent notices to them asking to pay a cumulative penalty of Rs 3,050 crore within three weeks.

Vodafone Idea 02

Insolvency Code: Govt mulls next set of changes to insolvency and bankruptcy code

While the average recovery from toxic assets was to the tune of 39% of creditors’ claims until March 2021, in some cases, the haircuts were as high as 95%.

Court Justice

Sharpest rise in salaried jobs: Employment rises by 8.5 million in September; at highest level in 20 months

As per the survey, labour force participation rate increased from 40.5% in August to 40.7% in September and, importantly, the employment rate inched up from 37.2% to 37.9% in September this year.

Smartphones: Diwali won’t be dhamaka this year; chip shortage likely to impact festive launches of consumer electronics

In a report last month, IDC said the semiconductor industry will see normalisation and balance by the middle of 2022, with a potential for overcapacity in 2023 as larger scale capacity expansions begi

ZEE moves court against Invesco’s demand for EGM: Approaches Bombay High Court to declare demand illegal, invalid

The company has filed a suit before the Bombay High Court under the ordinary original civil jurisdiction, ZEEL said in a stock exchange notice.

Zee Entertainment 02

Sustained pick-up: GST collections rise 23% to Rs 1.17 lakh crore in September

Data released separately said the Nikkei manufacturing PMI rose to 53.7 in September from 52.3 in the previous month; also, average daily e-way bill generation in the first 26 days of September was 3%

During September, the revenues from domestic transaction (including import of services) are 20% higher than the revenues from these sources during the same month last year.

Government securities listing: FTSE Russell to offer India update in March 2022

David Sol, managing director (Index Policy) at FTSE Russell, said: “FTSE Russell is...encouraged by India’s progress towards inclusion in mainstream local currency emerging markets indices such as

The global index provider first placed Indian government securities on FTSE Fixed Income Watch List in March 2021 for an upgrade of its market accessibility score. It announced its latest review late Thursday.

Invesco demand: Zee board refuses to hold EGM, calls Invesco’s request ‘invalid and illegal’

ZEEL cited several legal infirmities, including prior permission required from MIB for effecting any change in the board. The proposed appointments, if effectuated, will result in violation of MIB gui

"The role of Invesco, as ZEE’s single-largest shareholder, was to help facilitate that potential transaction and nothing more.” It said that ZEE's disclosure on Tuesday was “yet another tactic” to delay conducting an extraordinary general meeting (EGM).

Invesco’s demand: NCLT directs Zee to take steps for EGM

Invesco has been consistent in its demand for an EGM in its earlier letters, dated September 11 and September 23, wherein it had asked ZEEL to adhere to its fiduciary duties and statutory obligations

The two investors, who together hold 17.88% in ZEEL, had approached the NCLT for directing ZEEL to hold its EGM within the stipulated time frame to reconstitute the board and remove two board members and Punit Goenka as the managing director and CEO of the company.

Mispricing of risk due to excess liquidity: Dinesh Khara, chairman, State Bank of India

The focus would be to encourage people to borrow and to generate demand with the convenience of the funds available in the form of loans. It will be for all segments.

Mispricing of risk due to excess liquidity: Dinesh Khara, chairman, State Bank of India

Domestic gas price up 62%, to hit user industries, consumers; ONGC, RIL gain

The domestic gas price is linked to the weighted average price of four global benchmarks (US, UK, Canada and Russia). Spot US LNG prices have risen from around $2.4/mBtu in April to $4.2/mBtu in Augus

Gas power

Make in India: Power equipment PLI on the cards

Sources in the power ministry told FE that the new PLI scheme was in its early stages of planning, and would likely include components used in supervisory control and data acquisition (SCADA) systems,

‘Equalisation’ levy: SEZs likely to get tax relief for domestic tariff area sales

SEZs sold manufactured goods worth Rs 50,033 crore in the domestic market last fiscal, down from Rs 53,831 crore in FY20. Their domestic sales would soar substantially if the tax incidence drops, indu

Moreover, the corporation tax has been trimmed to as low as 15% for setting up new manufacturing units anywhere. So, without fresh incentives, SEZs won’t be able to draw many companies now, they say.
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