Financial Express Mumbai - November 19, 2022
Financial Express Mumbai - November 19, 2022
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In this issue
November 19, 2022
Goldman Sachs, Ontario Teachers eye entry into Indian warehousing
A NEW SET OF global investors such as Goldman Sachs, Ontario Teachers' Pension Plan, Gaw Capital Partners, and others are looking to enter the Indian warehousing space as investors.
New Data Protection Bill drops localisation clause
THE GOVERNMENT ON Friday released the draft of the new Data Protection Bill, which seeks to address only personal data of the citizens.
Jalan-Kalrock says banks delaying Jet takeover process
AIRWAYS' REVISED plan of returning to the skies in November is facing rough weather, following a stand-off between the Jalan Kalrock Consortium (JKC) and the airline's lenders over pending gratuity and provident fund (PF) payments of Jet's employees.
Independence of CAs important for trust of financial stakeholders: Sitharaman
FINANCE MINISTER NIRMALA Sitharaman on Friday said the independence of chartered accountants (CAs) is extremely important for the trust and integrity of financial stakeholders.
GDP growth in July-Sept seen at 6.1-6.3%: RBI
Economy resilient but prone to global headwinds
Budget to step up spending on health, education infra
THE BUDGET lay emphasis 2023-24 will likely on the social sector and schemes on health and education, both public goods that have huge multiplier benefits for human capital and economic growth, sources told FE.
Sunak: Committed to working quickly on UK-India FTA
PRIME MINISTER RISHI Sunak has said that the UK government remains committed to working as quickly as possible” towards a successful conclusion to the ongoing free trade agreement FTA) talks with India, as the majority of the substantive negotiation conversations were completed at the end of last month.
Millers seek restrictions on import of edible oils
WITH THE KHARIF produce of oilseeds flooding domestic markets across the country, oil millers want the central government to put import restrictions on edible oils in order to promote domestic edible oil manufacturing activities.
Ministry to seek ₹2.25-trn fertiliser subsidy for FY24
Subsidy seen rising due to high global commodity prices
Dailyhunt parent VerSe's FY22 loss trebles to 2,563 crore
VERSE INNOVATION, THE company that operates regional language news aggregator Dailyhunt and Josh,sawits loss more than trebling at 2,563 crore in FY22 from ₹808 crore in FY21 on the back of promotional costs and employee benefit expenses, regulatory filings showed.
JLR to recruit fired Twitter, Meta staff
JAGUAR LAND ROVER said it was looking to recruit workers who've been fired by technology companies such as Meta Platforms and Twitter to fill digital and engineering vacancies.
Zomato co-founder Mohit Gupta quits, third big exit this month
MOHIT GUPTA, CO-FOUNDER, Zomato has tendered his resignation, a filing with the Bombay Stock Exchange showed. Gupta was not designated as key managerial personnel under the companies act, 2013, the filing further said.
Renewed India Inc's capex plans are back on track
BOOSTED BY THE overall optimism in the country’s economic stature and favourable policies, the capex plans of India Inc are back on track, with corporate spending expected to continue undeterred for the rest of the financial year.
Maruti eyes 3,700 outlets before year end
MARUTI SUZUKI INDIA expects its sales network to touch the 3,700mark by the end of this fiscal amid a push to ramp up production capacity at its Manesar-based plant by 1 lakh units to cater to enhanced demand, according to a senior company official.
New data Bill addresses Big Tech firms' concerns
THE NEW DRAFT Data Protection Bill has dropped four clauses from the earlier version regarding which the Big Tech firms as well as startups had expressed serious reservations and said that if government went ahead with them, businesses would face major disruption.
'Fair and reasonable': NDTV committee on Adani offer
THE COMMITTEE OF independent directors (IDC) of New Delhi Television (NDTV) is of the opinion that the open offer price made by Adani Group to acquire a 26% stake in the media firm is \"fair and reasonable\".
Sundram Fasteners targets 50% revenue from exports
SUNDRAM FASTENERS (SFL), an auto component company from the stable of TVS Group, is targeting to earn 50% of its revenue from exports.
Axis Bank to boost corp credit via MSME, short-term loans
AXIS BANK WILL focus on mid-corporate and working capital loans, shifting away from longer tenure lending and chunkier infrastructure-related loans, a top executive said on Friday.
Forex kitty swells by $14.7 bn, biggest rise since August 2021
FOREIGN EXCHANGE RESERVES jumped by a whopping $14.7 billion for the week ended November 11, its biggest weekly increase since August 2021.
CHANGES IN BUYBACK NORMS
The Securities and Exchange Board of India Sebi) on Wednesday proposed a number of changes to the current buyback regulations. The changes concern the limit, quantum, and time taken to complete the process. Ashley Coutinho explains what these changes mean.
India-focused ETFs, funds see $126-m inflows
The category had seen 17 straight quarters of net outflows
In search of the Asiatic lion
Lions belong to India, not to a state: locals
Stocks record first weekly loss in five
SHARES CLOSED LOWER on Friday to log their first weekly drop in five weeks amid fears that the US Federal Reserve will continue its policy of aggressive rate hikes.
SC rejects NIA petition, orders Navlakha's house arrest within 24 hours
DISMISSING A PLEA by the National Investigation Agency to vacate its November 11 order allowing the house arrest of Bhima Koregaon case accused Gautam Navlakha, the Supreme Court Friday directed that its order be effected within 24 hours.
Punjab clears return to old pension scheme
TWO MONTHS AFTER Chief Minister Bhagwant Mann announced that Punjab would be reverting to the Old Pension Scheme OPS), the Cabinet Friday approved its implementation, days before the first phase of Assembly elections in Gujarat on December 1.
Impose cost on nations which back terror: PM
IN REMARKS AIMED at Pakistan and China, Prime Minister Narendra Modi said on Friday that while some countries support terrorism as part of their foreign policy”, others do so by blocking action against terrorists”.
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