Today Sector News – 07.03.2018
* AVIATION: Operating and cash losses at Air India have fallen consistently over the last five years, Union minister for civil aviation Ashok Gajapathi Raju said on Tuesday. Airports Authority of India will begin the process of selling about 2,750 ha of land, or 5% of its land assets, in the year starting Apr 1, as the state-owned airport operator seek to boost its non-aeronautical revenue, Chairman Guruprasad Mohapatra said.
* BANKING: The operational performance of Indian companies does not deteriorate after they go public, according to a Reserve Bank of India working paper authored by Avdhesh Kumar Shukla and Tara Shankar Shaw.
* COAL: The government's move to allow commercial mining of coal by private sector may help the country save around 300 bln rupees in import costs, CRISIL said.
* FERTILISER: NITI Aayog has set up a panel to recommend a model to directly transfer fertiliser subsidy to farmers, the government today informed the Lok Sabha.
* OIL & GAS: After crude oil, India has begun importing natural gas from the US, with the first shipment of liquefied natural gas under a 20-year deal being flagged off from Louisiana.
* REAL ESTATE: Piramal group's real estate firm Piramal Realty has appointed Naaman Atallah as its chief executive officer.
* STEEL: The debt resolution of Essar Steel has turned into a full-scale corporate war between VTB Bank of Russia and LN Mittal's ArcelorMittal, both of which have made multi-billion dollar offers for the Gujarat-based steel company.
* TAX: The central government has decided to change the dates of devolution of taxes to states to the date on which the tax is due instead of the current practice of transferring on the 15th of every month.
* TELECOMMUNICATION: Telecom Regulatory Authority of India Chairman R.S. Sharma has said India's top telecom companies are free to match the lower or even free offers of a rival without falling foul of the latest predatory pricing order that redefined significant market power because their intention is not to kill competition. The Union Cabinet is likely to take up on Wednesday the Department of Telecom's proposal of relaxing the spectrum holding cap, which includes removal of the intra-band cap of 50% spectrum holding by operators in a circle. Employees of Aircel, which has filed for bankruptcy in the National Company Law Tribunal, have threatened to register first information reports against the senior management and promoters for failing to pay salary dues to them.
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* BANKING: The operational performance of Indian companies does not deteriorate after they go public, according to a Reserve Bank of India working paper authored by Avdhesh Kumar Shukla and Tara Shankar Shaw.
* COAL: The government's move to allow commercial mining of coal by private sector may help the country save around 300 bln rupees in import costs, CRISIL said.
* FERTILISER: NITI Aayog has set up a panel to recommend a model to directly transfer fertiliser subsidy to farmers, the government today informed the Lok Sabha.
* OIL & GAS: After crude oil, India has begun importing natural gas from the US, with the first shipment of liquefied natural gas under a 20-year deal being flagged off from Louisiana.
* REAL ESTATE: Piramal group's real estate firm Piramal Realty has appointed Naaman Atallah as its chief executive officer.
* STEEL: The debt resolution of Essar Steel has turned into a full-scale corporate war between VTB Bank of Russia and LN Mittal's ArcelorMittal, both of which have made multi-billion dollar offers for the Gujarat-based steel company.
* TAX: The central government has decided to change the dates of devolution of taxes to states to the date on which the tax is due instead of the current practice of transferring on the 15th of every month.
* TELECOMMUNICATION: Telecom Regulatory Authority of India Chairman R.S. Sharma has said India's top telecom companies are free to match the lower or even free offers of a rival without falling foul of the latest predatory pricing order that redefined significant market power because their intention is not to kill competition. The Union Cabinet is likely to take up on Wednesday the Department of Telecom's proposal of relaxing the spectrum holding cap, which includes removal of the intra-band cap of 50% spectrum holding by operators in a circle. Employees of Aircel, which has filed for bankruptcy in the National Company Law Tribunal, have threatened to register first information reports against the senior management and promoters for failing to pay salary dues to them.
