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September 27, Tuesday 2016 7:21 AM       
       HEADLINES: Govt will not compromise on issue of crimes: CM                                              No obstacle in arresting anyone, says Pinarayi                                              Disproportionate assets case: K Babu’s wife questioned                                              Two including minor involved in theft held                                              Woman commits suicide after killing children                                              PSLV C-35 with eight satellites lifts off                                              Sunanda case: Police seeks details of deleted chats                                              Shoe hurled at Rahul Gandhi during roadshow in UP                                              Pak demands international probe into Uri attack                                              India seeks adoption of global treaty on terror,UNSC reforms                                              India seeks adoption of global treaty on terror,UNSC reforms                                              Ashwin takes six as India savour big win in 500th Test                                              Ashwin is a priceless cricketer: Kohli                                              Kaumudi Facebook
       BUSINESS  
         Sensex tanks 374 pts after investors turn to US Prez debate    
 
 
MUMBAI: Equities started the week on a distinctly weak note after the Sensex tumbled 374 points today -- the most in two weeks -- tracking global sell-off ahead of the US presidential debate and an OPEC meeting due this week. The barometer closed at 28,294.28, a nearly 1-month low. Also, the broader NSE Nifty broke below the 8,800-mark level. Investors are also anxiously waiting for the upcoming monetary policy review on October 4, the first to be held under new RBI Governor Urjit Patel.

 
         Pakistan calls off key trade exhibition in India    
 
 
ISLAMABAD: Pakistan has cancelled a trade exhibition which was scheduled to be held next month in India, amid heightened tension between the two neighbours in the aftermath of the terror attack in Uri. "Due to current situations between Pakistan and India which are beyond TDAP's control, the event planned for 2016 has been called off," Trade Development Authority of Pakistan (TDAP) said in a statement yesterday. The third edition of 'Aalishaan Pakistan exhibition' was scheduled to be

 
         Sebi to relax REITs, InvITs norms    
 
 
MUMBAI: Market regulator Sebi on Friday decided to further relax in norms for REITs and InvITs in a bid to make these instruments more attractive for raising capital. Several attempts are being made to garner due attention from business houses in the country, but all the efforts failed leading to Sebi reconsidering the proposal to give further relaxations.

 
         GST threshold fixed at Rs 20 lakh, rate to be decided in Oct    
 
 
NEW DELHI: Moving on fast track to roll out the new indirect tax regime from April 1, GST Council today fixed annual turnover limit for exemption at Rs 20 lakh and resolved that all cesses will be subsumed in the GST. While the next meeting of the Council on September 30 will finalise draft rules on granting exemptions, the GST rate and tax slabs would be decided at its three-day meeting beginning October 17.

 
         Airtel offers unlimited data for 3 months at Rs 1,495    
 
 
NEW DELHI: Amid the ongoing tariff war triggered by the entry of Reliance Jio, India's largest mobile operator Bharti Airtel today announced a special 90-day pack that offers unlimited data -- 30 GB at 4G speed -- for Rs 1,495. The pack is available for Rs 1,495 for existing users and Rs 1,494 for new users, and effectively brings down 4G data rates to Rs 50 per GB. The data pack will work on 4G handsets.

 
         Vodafone India gets Rs 47,700-cr fresh equity from parent    
 
 
MUMBAI: Amid a hyper competitive market following the entry of Reliance Jio, the second largest telcom firm Vodafone India today said it has received Rs 47,700-crore fresh capital from its parent to fund business expansion. "The money (Rs 47,700 crore) has flown into the company, which previously announced a plan to do a share sale, since April this year," Managing Director and Chief Executive Sunil Sood told reporters here.

 
         L&T bags USD 100 mn order from Vietnam Border Guard    
 
 
NEW DELHI: Larsen & Toubro today said it has entered into a pact, valued at USD 99.7 million (around Rs 660 crore), with Vietnam Border Guard for design and construction of high speed patrol vessels.

 
         Need clarity on GST rate, new emission norms: Daimler    
 
 
HANNOVER: Seeking clarity at the earliest on the GST rate and its rollout as well as new emission norms, German auto major Daimler today said these issues are causing "much risk and uncertainty" in the market.

 
         IOC,GAIL to take 49% stake in Adani Group's Dhamra LNG project    
 
 
NEW DELHI: State-owned refiner Indian Oil Corporation (IOC) and gas utility GAIL India Ltd today signed pacts to take 49 per cent stake in Adani Group's Rs 6,000-crore Dhamra LNG project in Odisha. IOC will initially take 39 per cent and GAIL another 11 per cent equity in Dhamra LNG Terminal Pvt Ltd and the remaining 50 per cent will be with Adani Group.

 
         Sebi to auction Sahara group's 13 more land parcels    
 
 
NEW DELHI: Moving ahead with sale of Sahara assets to recover money, regulator Sebi today lined up 13 land parcels of the beleaguered group for an e-auction next month at a total reserve price of about Rs 1,400 crore.

 
         India's rating upgrade in 2 yrs if reforms tangible: Moody's    
 
 
NEW DELHI: Calling the reform process slow and gradual with muted private investment and NPAs posing a challenge, Moody's today said it could upgrade India's rating in 1-2 years if it is convinced that reforms are "tangible". Moody's, which has a 'Baa3' rating with a positive outlook, said evidence of policymakers working towards a faster fiscal consolidation, reducing the debt-GDP ratio and addressing infrastructure and monsoon volatility challenges will determine an upgrade, going fo

 
         Sensex dips 111 pts as BoJ, Fed verdicts loom    
 
 
MUMBAI: Mirroring global weakness, the Sensex fell 111 points today, halting its four-day winning run, and the NSE Nifty broke below the 8,800-mark as investors turned cautious ahead of key policy meetings of the US Federal Reserve and Japanese central bank.

 
         Alibaba. com enters into agreements for TFC program in India    
 
 
BENGALURU: Alibaba. com, the leading B2B platform for cross-border wholesale trade of Alibaba Group, today announced that it has entered into agreements with new partners to explore the establishment of an expanded Trade Facilitation Centre (TFC) program in India. The new partners include Kotak Mahindra Bank, IDFC Bank, Delhivery, DHL and Aditya Birla Finance, the company said.

 
         Sensex maintains winning touch, climbs 72 pts on Asian cues    
 
 
MUMBAI: Building on gains for the fourth straight session, the benchmark Sensex rallied over 72 points to 28,671.06 and the NSE Nifty again went past the 8,800-mark in early trade today on sustained buying by participants tracking positive Asian indices.

 
         Airtel gets payment from Jio for new PoIs; joint testing now    
 
 
NEW DELHI: Bharti Airtel - which has been engaged in an interconnectivity tiff with Reliance Jio - today said it has received payment from the new entrant for additional points of interconnect, and sought Jio's cooperation for timely testing and commissioning of the network ports.

 
         Govt working overtime on GST: Cabinet Secretary P K Sinha    
 
 
NEW DELHI: Terming GST reform as a "game changer", Cabinet Secretary P K Sinha today said the government is working "overtime" to implement the indirect tax regime from April 1 next year. The Constitution (122nd Amendment) Bill, 2016, for introduction of the GST in the country was accorded assent by the President on September 8 and the same has been notified as the Constitution (101st Amendment) Act, 2016.

 
         Sufficient interconnect points for Jio, can augment more: BSNL    
 
 
NEW DELHI: Amid simmering tension and ongoing parleys between new entrant and private incumbent operators over connectivity, state-owned telecom firm BSNL has said it has provided "sufficient points of interconnect" to Reliance Jio and can augment it more based on requirement.

 
         Rupee to see a consolidative trend in next 12 months: DBS    
 
 
NEW DELHI: The rupee which is currently hovering around 67 per dollar level is expected to shift from a depreciation path to a consolidative trend over the next 12 months, says a DBS report. According to the global financial services major, there is neither a need nor a macroeconomic rationale behind a deliberate attempt to devalue the currency.

 
         Sensex rallies over 258 points on global cues    
 
 
MUMBAI: Building on gains for the third straight session, the benchmark Sensex surged over 258 points and the NSE Nifty recaptured the 8,800-mark in early trade today on sustained buying by participants and foreign fund inflows amid positive global cues. The 30-share index, which had gained 59.35 points in the previous two sessions, was up 258.59 points or 0.91 per cent at 28,671.48 with all sectoral indices led by auto and banking trading in green, rising by up to 1.64 per cent.

 
         No plans to devalue rupee, market to determine value: FinMin    
 
 
NEW DELHI: As the rupee saw a sudden plunge this morning on reports of currency devaluation, Finance Ministry officials today said there were no plans to devalue the domestic unit and its value will continue to be determined by the market.

 
         Bayer to acquire Monsanto in $66 billion deal    
 
 
BERLIN: German chemical and pharma giant Bayer on Wednesday announced acquisition of global biotech major Monsanto for $66 billion in largest all-cash deal ever, to create the world’s biggest seed and pesticide firm. Both Bayer and Monsanto have presence in India with the US firm selling genetically modified (GM) cotton seeds in the country for more than a decade. The deal, which is reported to be the largest all-cash transaction on record, marks a major consolidation in global seed busines

 
         Reliance Cap to list home finance biz;eyes Rs 50k cr loan book    
 
 
MUMBAI: Betting big on housing finance space, financial services conglomerate Reliance Capital today decided to independently list its home finance venture in the stock market with a target to attain a loan book of over Rs 50,000 crore for this business in the next few years.

 
         Collection of Indirect tax up 27% in Apr-Aug    
 
NEW DELHI: The government’s revenue collection in the first five months of current fiscal has shown impressive growth, with indirect taxes up 27.5% and direct taxes, 15.03%.

 
         Vodafone inks pact with BSNL to boost 2G roaming    
 
 
SEPTEMBER: Private operator Vodafone and state-owned BSNL have inked a countrywide 2G intra-circle roaming agreement to provide better telecom services to their respective customers. “Vodafone and BSNL today (Sunday) signed a 2G intra-circle roaming agreement to use each other’s assets and network strength across the country. This strategic partnering will lead to improved connectivity and enhance the customer experience overall,” Vodafone said in a statement.

 
         Sensex dives 444 pts on global sell-off, Nifty below 8,800    
 
 
MUMBAI: The BSE Sensex plunged by 444 points today -- its biggest single-day drop since the Brexit fallout on June 24 -- to end at nearly two-week low of 28,353.54 and the NSE Nifty went below 8,800-mark, tracking global meltdown due to heightened fears over US interest rate hike.

 
         'India eyes lower crude oil import'    
 
 
SINGAPORE: India on Friday said it plans to reduce crude oil import by 10% by 2022 to ensure energy security with Oil and Petroleum Minister Dharmendra Pradhan highlighting the government’s bid to achieve self-sufficiency by enhancing indigenous production of petroleum products. “(This is) A key step of the larger plan to ensure ‘Energy Security’ for the country,” he said while addressing Asian oil and gas industry executives at the launch a road show for discovered small fields wit

 
         Rajan took many steps to put banking system in right direction: President    
 
 
CHENNAI: Just retired RBI Governor Raghuram Rajan's clean-up of more than USD 100 billion of stressed assets on the books of banks today came in for praise from President Pranab Mukherjee who felt rising NPAs are not a desirable situation. "Of course more than often you listen to NPAs of banking system, which is no doubt a matter of concern. And Governor of RBI who has just retired, Mr Rajan, took many appropriate steps to put the system in the right direction," he said at the centenary ce

 
         Trai meets warring telcos, keeps COAI out of meeting    
 
 
NEW DELHI: Sector regulator Trai today met telecom operators Reliance Jio, Bharti Airtel, Vodafone and Idea to discuss ongoing tussle over network interconnection, but barred officials of industry body COAI from the meeting.

 
         BSE files IPO papers with Sebi, may raise up to Rs 1,500 cr    
 
NEW DELHI: Gearing up to launch its much-awaited IPO, Asia's oldest bourse BSE today filed draft papers with market regulator Sebi for the public issue of shares worth up to Rs 1,500 crore.

 
         Mobile user base touches 103.5 cr, BSNL regains 5th rank    
 
NEW DELHI: The country's mobile user base grew marginally to 1,035.12 million (103.5 crore) at the end of June this year, with state-run telecom firm BSNL regaining a spot among the top 5 players.

 
 
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