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October 23, Sunday 2016 2:54 AM       
       HEADLINES: Jacob Thomas complains of phone tapping                                              Jacob Thomas' phone can’t be tapped without the knowledge of home department                                              Defamation case against Biju Ramesh: Mani scales down demand                                              Saritha gets job in TN Solar company; Aloor will now look after Solar cases                                              Sudheeran deplores filing of 'fake' cases against scribes                                              Varun says charges against him false, frivolous                                              Producers who cast Pak actors will pay Rs 5 crore as 'penance': Raj Thackeray                                              18-year-old refuses to accept triple talaq notice by husband                                              Army 'upset' over being dragged into politics over film                                              Nobel academy member calls Bob Dylan's silence 'arrogant'                                              Obama compares Obamacare to Samsung Galaxy Note 7: Report                                              19 dead in Russian helicopter crash in Siberia: investigators                                              Nigeria to buy 10 Super Mushshak aircraft from Pakistan                                              Karnataka rout Gambhir-led Delhi by an innings and 160 runs                                              Fancied India held to 1-1 draw by rampant Koreans                                              Kaumudi Facebook
         FM calls on pvt sector to invest, cites low cost of capital    
INDORE: With private investment playing catch-up, Finance Minister Arun Jaitley today asked the private sector to loosen its purse strings to make the most of the demand uptick following a good monsoon and softer rates due to controlled inflation. India became the world's largest fastest-growing major economy on the back of a spurt in public spending, and private sector joining the bandwagon will create more engines to spur growth, he said at the Madhya Pradesh Global Investor Summit here to

         ICICI, Axis, StanChart get back USD 2.5 bn of Essar loans    
MUMBAI: Within days of Essar Group signing a mega USD 12.9-billion asset sale in its oil business, three top lenders -- ICICI Bank, Axis Bank and StanChart -- have got back an estimated USD 2.5 billion as part of the first payment for their debt exposure to the Ruias-led conglomerate. The two Indian lenders -- which together had an exposure of USD 1.5 billion -- will get back nearly half of their money or about USD 770 million in cash while further USD 750 million of debt will get transferred

         Vodafone offers free incoming on national roaming from Diwali    
NEW DELHI: To counter threat from Reliance Jio free phone call offer, telecom operator Vodafone India today free incoming calls while roaming nationally for all its customers from Diwali. "As part of our ongoing 200 million customer celebration, providing free incoming on national roaming will ensure that our customers do not think twice while traveling out of town," Vodafone India, Director – Commercial, Sandeep Kataria said in a statement.

         SBI advises customers to use its own ATM network    
KOLKATA: The country's largest commercial lender, State Bank of India (SBI), has advised its customers to use the bank's own ATM network after the security breach of around six lakh debit cards issued by the bank, an official said.

         Security breaches feared in up to 3.2 million debit cards    
AGENCIES: A slew of banks in India will either replace or ask customer to change the security codes of as many as 3.2 million debit cards on fears of potential breaches, according to reports. The move comes a day after the country's No. 1 lender State Bank of India said that it had blocked cards of certain customers, reported Economic Times.

         GST may make oil, chicken dearer; TV, air conditioner cheaper    
NEW DELHI: The proposed 4-tier GST structure may hit the common man as it is likely to result in higher taxes on various items including kitchen staples such as edible oils, spices and chicken.

         Maggi wins back market share on sustained recovery    
ZURICH/NEW DELHI: Global food and nutrition giant Nestle today said Maggi noodles in India has reported sustained recovery, regaining market share in the country almost a year after it was relaunched following a five-month ban in 2015. "India grew strongly as the Maggi noodles business continued to gain back market share and comparatives turned favourable. The sustained recovery of Maggi noodles in India was also encouraging...Chocolates, driven by KitKat, also did well," Nestle said in a s

         Cess on demerit a good departure from GST concept: Experts    
NEW DELHI: The proposed structure of levying cess on ultra-luxury and sin goods is a departure from the GST concept as envisaged initially and the Centre would have absolute powers in future to alter the cess rate, which could go up to 2 per cent, experts said. The GST Council yesterday mooted a four-slab GST tax structure of 6, 12, 18 and 26 per cent with lower rates for essential items and the highest for luxury goods that will also be levied with an additional cess.

         Tata Motors hikes passenger vehicle prices by up to Rs 12,000    
HYDERABAD: Home-grown auto major Tata Motors has increased prices of its passenger vehicles by up to Rs 12,000 across models to offset rising input costs. "We have hiked prices of our passenger vehicles by one per cent ranging between Rs 5,000 and Rs 12,000 due to rising input costs," Mayank Pareek, President, Passenger Vehicles Business Unit, Tata Motors, told PTI.

         Cabinet may consider Budget on Feb 1 this week    
NEW DELHI: The Cabinet is likely to consider this week fixing February 1 as date of presentation of the budget after the Election Commission gave its nod in light of upcoming Assembly elections in five states. Having decided to advance the budget presentation by a month, the government took the line that it should not be presented in the middle of Assembly poll in Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur.

         Samsung to compensate suppliers hit by Note 7 crisis    
SEOUL: Samsung Electronics said today it would compensate suppliers hit by the decision to scrap its Galaxy Note 7 smartphones because of safety fears with exploding batteries.

         AI mulls Rs 10k-cr debt rejig under RBI's scheme    
NEW DELHI: Air India, which is operationally profitable now, is looking to rejig debt worth Rs 10,000 crore under the scheme for sustainable restructuring of bad assets floated by the Reserve Bank. To further strengthen the ability of lenders to tackle stressed assets and provide an avenue for reworking the financial structure of entities facing genuine problems, the central bank has introduced ‘S4A’.

         Diageo opens new biz services centre in B'luru, to hire 1,000 by 2017-end    
NEW DELHI: World's largest spirits maker Diageo today announced opening of a new business services centre in Bengaluru, which will start operations in October next year and employ around 1,000 people by the end of 2017. To be known as Diageo Business Services India (DBSI), it will initially build a global (Diageo) finance and accounting footprint, Diageo said in a statement. The centre, which will be located at the Karle Town Special Economic Zone (SEZ), will start operations on October 1

         Sensex fails to keep early lead, slumps to 3-month low    
MUMBAI: Stocks saw a positive start today, only to reverse the trend later as the Sensex fell about 144 points to end at an over 3-month low, unnerved by muted start to second quarterly earnings and a lacklustre global trend. The numbers from both TCS and Infosys fell short of the crease as investors did not seem impressed.

         Petrol up Rs 1.34 a litre, diesel by Rs 2.37    
NEW DELHI: Petrol price was today hiked by Rs 1.34 a litre, the fifth increase in two months, and diesel by Rs 2.37 a litre on back of spike in global rates. The hike announced by oil companies is excluding state levies. After including local VAT, petrol will now cost Rs 66.05 a litre in Delhi from midnight tonight as against Rs 64.72 per litre currently. Diesel will cost Rs 55.26 per litre as against Rs 52.61 a litre at present.

         Rosneft-led group acquires Essar Oil for nearly USD 13 bn    
PANAJI: Russia's state-controlled oil giant Rosneft and its partners today took over India's second biggest private oil firm Essar Oil in an all-cash deal valued at about USD 13 billion.

         Everything is going right for Indian economy, says Kamath    
VARCA: Sounding exuberant, veteran banker and New Development Bank (NDB) President K V Kamath has said everything is going right for India at present and the third largest Asian economy will witness a "sudden uptick" in fortunes soon. "Everything is going right... the government should keep the accelerator fixed firmly to the ground," Kamath, who is credited for the growth of ICICI Bank into biggest private sector lender, told PTI here.

         WPI inflation slows to 3.57% as vegetable prices soften    
NEW DELHI: Wholesale inflation eased to 3.57 per cent in September as food articles, led by vegetables, witnessed softening of prices. The wholesale price-based inflation, reflecting the annual rate of price rise, in August stood at 3.74 per cent. In September 2015, WPI inflation was (-)4.59 per cent.

         'Chinese goods' sale in India hit record high despite boycott    
BEIJING: Calls for boycott of Chinese goods in India following China's opposition to a UN ban on JeM chief Masood Azhar have failed as sales of Chinese products in the country hit a record high during the festive season, official media here said today. "Diwali, one of the most important Hindu festivals and one of the biggest shopping seasons in India, is coming at the end of October, but encouragement to boycott Chinese goods has been spreading in the last few days on Indian social media, a

         Chinese goods boycott hitting traders on tepid retail demand    
NEW DELHI: The social media campaign to boycott Chinese goods during Diwali has beaten down sentiment of retail traders as there has been a 20 per cent decline in demand so far, traders body CAIT said today. Confederation of All India Traders (CAIT) Secretary General Praveen Khandelwal said that Chinese lighting and decorative products are widely used during Diwali and such materials start flooding the Indian markets three months prior to the festive season.

         Indian Oil to lay country's longest LPG pipeline    
NEW DELHI: The Indian Oil Corporation (IOC) plans to lay the nation’s longest LPG pipeline from the Gujarat coast to Gorakhpur in eastern Uttar Pradesh to cater to growing demand for cooking gas in the country.

         Asset backed retail loans' quality to improve in 2 yrs:Moody's    
NEW DELHI: Moody's Investors Service today said the asset quality of retail loans backing Indian asset-backed securities (ABS) will improve over the next two years, despite an expected uptick in non-performing loans. It expected the performance of loans backing commercial vehicles and construction equipment to improve owing to favourable operating conditions and increased efforts by originators to prevent delinquent loans from progressing into NPLs.

         Sensex tanks over 475 pts on global sell-off    
MUMBAI: In a sharp plunge, market benchmark Sensex slumped over 475 points to 27,607.32 at mid-session as selling pressure gathered momentum, mirroring falls across Asia and a lower opening on European bourses following worse-than-expected economic data from China. Moreover, trading sentiment was dampened with minutes of the US Federal Reserve's September meeting signalling a possible rate hike this year, brokers said.

         Renault-Nissan recall 51K units of Kwid, redi-Go    
NEW DELHI: Franco-Japanese auto alliance Renault-Nissan is recalling nearly 51,000 units of two entry level cars, Renault Kwid and Datsun redi-GO in India to rectify faulty fuel system and add a hose clip. While Renault India is recalling around 50,000 units of its bestseller Kwid, Nissan is calling back 932 units of Datsun redi-Go which was launched in June this year.

         Toyota, Suzuki explore alliance in environment, safety, IT    
TOKYO: Japanese auto majors Toyota Motor Corp (TMC) and Suzuki Motor Corp (SMC) today announced plans to explore business partnership to strengthen collaboration in fields of environment, safety, and information technology. Both companies have agreed to start exploring ideas that are directed towards a business partnership, Toyota and Suzuki said in a joint statement.

         India's exposure to US govt securities crosses $123 bn in July    
WASHINGTON: Steeply increasing its exposure, India's holdings of American government bonds touched a high of USD 123.7 billion in July making it the 12th largest holder of such securities. There has been a mixed trend in terms of India's holdings of these securities in recent months amid the world's largest economy seeing improved growth prospects.

         Chinese phonemakers to explore 'Make in India' opportunities    
NEW DELHI: Chinese mobile phone companies with their Indian counterparts will hold three-day joint summit starting October 22 here with around 20 firms having interest in setting up their manufacturing units in the country. "We have seen huge interest of Chinese for making their products in India. In the upcoming summit, we are expecting large participation. Around 20 mobile phone firms, mostly component suppliers and contract manufacturers, have already expressed interest in manufacturing t

         Samsung halts Galaxy Note 7 sales over fire concerns, tells users to switch off    
SEOUL: Samsung Electronics Co Ltd (005930.KS) halted sales of its Galaxy Note 7 smartphones on Tuesday and told owners to stop using them while it investigates reports of fires, fuelling expectations the tech giant will scrap the flagship device. Top U.S. and Australian carriers on Monday suspended sales or exchanges of the Note 7s, while aviation authorities banned passengers using the phones, after smoke from a replacement device forced the evacuation of a passenger plane in the United Stat

         Samsung suspends production of recalled Note 7: report    
SEOUL: Samsung Electronics has suspended production of its Galaxy Note 7 smartphone, a report said today, a month after a recall prompted by battery explosions and a day after two major overseas distributors halted replacements.

         HMSI aims sales of over 1 million units in festival season    
CHANDIGARH: Two-wheeler maker Honda Motorcycles & Scooter India (HMSI) today said it aims to clock sales of over 1 million units during this festival season on the back of implementation of 7th Pay commission and favourable monsoon. "We plan to sell more than one million units during this festival season," HMSI Sr Vice President (Sales & Marketing) Y S Guleria told reporters here today.

CPEC could turn into another East India Company, says Pak lawmakers. Do you agree?
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