Finance Ministry plans to place its representatives across all Sebi panels
The Ministry of Finance (MoF) is planning to place its representatives across all committees empanelled by capital market regulator Securities and Exchange Board of India (Sebi), it is learnt. The Department of Economic Affairs (DEA) has directed the market regulator to provide a list of all the committees constituted so far, according to sources. Read on…H1-B visa workers may soon get US citizenship, promises Donald Trump
President Donald Trump said his administration is looking at changing a foreign worker visa program to include a more direct path to citizenship, as he wrestles with Democrats in Congress over funding for his border wall to deter illegal migrants from entering the US. (Click here to read)
India’s Industrial growth falls to 17-month low of 0.5% in November
A contraction in manufacturing output, especially capital and consumer goods, pulled down industrial growth to a 17-month low of 0.5 per cent in November. This comes just a month after growth had scaled a 11-month high of 8.4 per cent in October. Read on…
Ashok Chawla quits as NSE chief after govt allows CBI to prosecute him
Former bureaucrat Ashok Chawla Friday resigned as chairman of the National Stock Exchange with immediate effect, the bourse said, hours after the CBI said the Centre has granted sanction to prosecute him in the Aircel-Maxis case. (Click here to read)
Infosys posts 30% drop in Q3 net profit, but raises revenue guidance
Infosys on Friday said it was expecting to close 2018-19 (FY19) on a much stronger note than it had estimated, reflecting the growing optimism of the current management. The Bengaluru-based company has given the guidance that it will close the fiscal year with a revenue growth rate of 8.5-9 per cent, taking it closer to double-digit growth, which its larger rival TCS has projected for FY19. At the beginning of the year, the IT giant, which is now helmed by former Capgemini veteran Salil Parekh, had given an initial outlook of 6-8 per cent growth in constant currency, which it had maintained even during the preceding quarter. Read on…
Alok Verma resigns, says it’s a moment of ‘collective introspection’
Former CBI chief Alok Verma submitted his resignation from service on Friday, a day after he was removed from his post by a high powered committee. Verma said in his resignation letter, accessed by PTI, that it was a moment of “collective introspection”. Read on…
Future Group bets big on food delivery business, to invest Rs 1,000 crore
The country’s largest retailer, Future Group, will step into the competitive food delivery space by launching cloud kitchens. In a conversation with Business Standard, Future Group Chief Executive Officer Kishore Biyani said the plan was to be present during every meal, including breakfast, lunch, snacks and dinner. “Whichever way food is being consumed in India, we want to be part of that business,” he said. Click here to read
New orders to get Ashok Leyland 50% share of state transport buses
Ashok Leyland, one of India’s biggest bus manufacturers, said it will increase its share in the supply of buses to the state transport undertakings (STU) to 50% this year, according to a MoneyControl report.
More and more Indian women are buying life insurance, suggests IRDAI study
Indian women are increasingly opting for life insurance products, competing with men in getting their lives covered, according to a The Hindu BusinessLine report. While women make up 48 per cent of the nation’s population, they now account for 32 per cent of the number of polices purchased and first-year premium in life insurance, according to a study on the participation of women in life insurance by the Insurance Regulatory and Development Authority of India.
NSE algo trading case: 62 broking firms may have had preferential access to NSE servers
Forensic analysis shows 62 broking firms may have enjoyed preferential access to servers of National Stock Exchange of India Ltd (NSE), and not just the three that have been served showcause notices. This is according to three forensic audit reports by EY India Ltd, Deloitte Touche Tohmatsu India Llp and International School of Business (ISB). Mint reviewed excerpts of these reports.
Source: Business Standard