IL&FS default shows ABS servicer continuity risk: Fitch

IL&FS default shows ABS servicer continuity risk: Fitch

Friday, 12 October 2018 | PTI | Mumbai

Recent defaults by Infrastructure Leasing and Financial Services (IL&FS) have highlighted the continuity risks of the country’s asset-backed security (ABS) servicers, Fitch said in its report on Thursday. It further said the failure of IL&FS has significantly undermined market sentiment towards the the country’s non-bank financial institution (NBFI) sector and their...

Number of direct taxpayers may double to 7.6 cr during 5 yrs of present govt: Jaitley

Number of direct taxpayers may double to 7.6 cr during 5 yrs of present govt: Jaitley

Thursday, 11 October 2018 | PTI | New Delhi

Finance Minister Arun Jaitley said Thursday the number of direct taxpayers is expected to double to 7.6 crore during the five-year term of the present government on account of various initiatives like rationalisation of tax structure, lowering of rates and anti-black money measures. "If we look at the functioning of the...

Orderly depreciation of rupee to increase competitiveness: World Bank

Orderly depreciation of rupee to increase competitiveness: World Bank

Thursday, 11 October 2018 | PTI | Washington

An orderly depreciation of the rupee would increase competitiveness and relieve some of the pressures in capital market, according to a top World Bank official who described it as a "positive development" if done in a right way. The remarks by Martin Rama, the Chief Economist for the South Asia region...

Key Indian equity market indices open in red

Key Indian equity market indices open in red

Thursday, 11 October 2018 | IANS | Mumbai

The key Indian equity market indices on Thursday opened lower following a muted trend in global markets even as the Indian rupee slipped to a new record low of 74.46 against the greenback. The Sensitive Index (Sensex) of the BSE, which had closed at 34,760.89 points on Wednesday, opened lower at...

Musk denies James Murdoch taking over as Tesla's Chairman

Musk denies James Murdoch taking over as Tesla's Chairman

Thursday, 11 October 2018 | IANS | San Francisco

Tesla CEO Elon Musk has denied that James Murdoch, the younger son of media mogul Rupert Murdoch, is going to replace him at electric car maker Tesla. Reacting to a Financial Times report that claimed James Murdoch was going to join Tesla as Chairman, Musk tweeted on Thursday that this was...

Saudi Arabia to supply oil to India in Nov

Saudi Arabia to supply oil to India in Nov

Thursday, 11 October 2018 | Agencies | NEW DELHI

Saudi Arabia, the world’s biggest oil exporter, will supply Indian buyers with an additional 4 million barrels of crude oil in November, several sources familiar with the matter said on Wednesday. The extra cargoes indicate a willingness by Saudi Arabia to increase crude supply to make up the shortfall once sanctions...

India’s debt lower than best, emerging market economies: IMF

Thursday, 11 October 2018 | PTI | Washington

India’s debt is lower than the best or emerging market economies in the world, a top IMF official has said as he cautioned that the global debt has reached a new record high of $182 trillion in 2017. Vitor Gasper, International Monetary Fund (IMF) Director of Fiscal Affairs Department, said India’s...

Air India revival package may be ready in a month: official

Thursday, 11 October 2018 | PTI | Hyderabad

The Centre is likely to finalise a revival package for the ailing Air India in a month, a top official of the Civil Aviation Ministry said on Tuesday assuring “need-based” support to the debt-laden carrier. Civil Aviation Secretary, RN Choubey also said the safety audit that the Director General of Civil...

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