Today Sector News – 07.02.2018
* AUTOMOBILE: Italian auto company Piaggio is gearing to expand its market share in the three-wheelers and compete against the segment leader, BAJAJ AUTO.
* AVIATION: Vistara, the Indian affiliate of Singapore Airlines, is in talks with Airbus SE and Boeing Co to buy jets worth as much as $8.5 bln. Air India will get a one-time grant of 750,000 euros from Israel for launching direct flights between New Delhi and Tel Aviv.
* BANKING: In the first significant addition to gold reserves since 2009, the Reserve Bank of India increased its gold reserves by 300 kg in December to 558.1 tn, according to data from the World Gold Council.
* CORPORATE: As many as 884 companies are under the scanner in various money laundering cases and assets worth 50 bln rupees have been attached, Union Minister P. P. Chaudhary has said.
* ECONOMY: An advisory group has been formed to improve regulations relating to fast-tracking of
investments, the ministry of commerce and industry said.
* ENERGY: IDFC Alternatives has bought a 40MW solar power project in Madhya Pradesh operated by IL&FS Energy.
* POWER: To achieve the target of having 60GW of installed wind energy capacity by 2022, the government has invited tenders for 2,000 MW of wind power projects connected to the inter-state transmission system.
* REAL ESTATE: The government will raise 250 bln rupees over a period of four years under the Affordable Housing Fund, Housing and Urban Affairs Minister Hardeep Singh Puri said.
* TAXATION: The government has budgeted for 900 bln rupees to be paid as compensation to states to make good their losses on account of the goods and services tax in 2018-19. The government has unearthed Goods and Services Tax evasion to the tune of 57 mln rupees in 16 cases in just five months of the ongoing financial year.
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* AVIATION: Vistara, the Indian affiliate of Singapore Airlines, is in talks with Airbus SE and Boeing Co to buy jets worth as much as $8.5 bln. Air India will get a one-time grant of 750,000 euros from Israel for launching direct flights between New Delhi and Tel Aviv.
* BANKING: In the first significant addition to gold reserves since 2009, the Reserve Bank of India increased its gold reserves by 300 kg in December to 558.1 tn, according to data from the World Gold Council.
* CORPORATE: As many as 884 companies are under the scanner in various money laundering cases and assets worth 50 bln rupees have been attached, Union Minister P. P. Chaudhary has said.
* ECONOMY: An advisory group has been formed to improve regulations relating to fast-tracking of
investments, the ministry of commerce and industry said.
* ENERGY: IDFC Alternatives has bought a 40MW solar power project in Madhya Pradesh operated by IL&FS Energy.
* POWER: To achieve the target of having 60GW of installed wind energy capacity by 2022, the government has invited tenders for 2,000 MW of wind power projects connected to the inter-state transmission system.
* REAL ESTATE: The government will raise 250 bln rupees over a period of four years under the Affordable Housing Fund, Housing and Urban Affairs Minister Hardeep Singh Puri said.
* TAXATION: The government has budgeted for 900 bln rupees to be paid as compensation to states to make good their losses on account of the goods and services tax in 2018-19. The government has unearthed Goods and Services Tax evasion to the tune of 57 mln rupees in 16 cases in just five months of the ongoing financial year.
