Monday, Aug 20, 2018 | Last Update : 01:00 PM IST

Economy

Sanjeev Sanyal, Principal Economic Adviser to the Finance Ministry.

GST slabs may reduce to 3 in long-term: Sanjeev Sanyal

Presently, there are four GST slabs of 5, 12, 18 and 28 per cent, plus the exempted category which attracts 0 per cent GST.

Asserting that the worst is behind for state-owned lenders, Financial Services Secretary Rajiv Kumar on Thursday expressed hope that the banks would come out of the Prompt Corrective Action (PCA) framework this fiscal.

Banks to come out of PCA framework by this fiscal: Rajiv Kumar

Various measures taken by the government including implementation of Insolvency and Bankruptcy Code has yielded good results.

Hackers managed to transfer over Rs 94 crore through a malware attack on the server of Pune-based Cosmos Bank and cloning thousands of the bank's debit cards over a period of two days, a senior bank official said.

Cosmos Bank's server hacked; Rs 94 crore siphoned off in 2 days

The fraudulent transactions were carried out on August 11 and August 13 through 25 ATMs.

Amidst all these global turmoil, the Indian equity markets are hovering around their all time high supported well by strong inflow of funds from domestic investors.

FPIs see gains wiped out after rupee plunge

Rupee unlikely to depreciate dramatically, say experts.

The clean banking drive has started showing result with public sector banks (PSBs) increasingly adopting prudent business approach replacing aggressive lending practices, said Financial Services Secretary Rajiv Kumar.

Clean Banking is new normal for banks, says Rajiv Kumar

The NPA crisis brought opportunity for introduction of responsible and responsive banking.

Market

WTI crude futures CLc1 were down 10 cents, or 0.15 per cent, at $66.71 per barrel.

Oil dips as US, China trade dispute expected to stall economic growth

US crude oil exports to China, seen as a tool to reduce America’s trade deficit with Asia’s biggest economy.

The NSE Nifty also hit a record intra-day high of 11,244.30, before finishing at a fresh record of 11,278.35, up 111.05 points, or 0.99 per cent.

Sensex ends above 37,000-level for first time; Nifty tops 11,250

The 30-share Sensex added 352.21 points, or 0.95 per cent, to hit a new peak of 37,336.85.

The sectoral indices rose up to 0.64 per cent, led by metal, oil and gas, PSU, infrastructure, power, auto, healthcare, consumer durables, capital goods and FMCG.

Sensex rises 110 points, Nifty above 10,400-mark

The broad-based NSE Nifty rose 33.40 points or 0.29 per cent to 11,422.85.

The gauge had gained 358.57 points in the previous two sessions.

Sensex retreats from record high, down 106 points

NSE Nifty receded from its record level and slipped 29.05 points, or 0.25 per cent to 11,441.65.

Companies

Vedanta on Thursday said it is yet to receive notification from the Madras High Court on the latter issuing notice to the group's Sterlite Copper plant on a petition seeking Rs 750 crore compensation and asserted that it will evaluate further course of action upon study of the same.

Yet to receive notification from Madras HC on Sterlite petition: Vedanta

The Madras High Court had earlier this week issued a notice to the Sterlite Copper plant.

A section of Air India pilots have threatened to stop operations if their flying allowance dues are not paid immediately.

Air India pilots threaten to stop operations on flying allowance dues

ICPA represent over 700 pilots of the airline's Airbus 320 family fleet.

Edelweiss is also absorbing the high quality investment team of these funds who bring over a decade of rich experience in Commercial Real Estate (CRE).

Edelweiss to acquire 2 funds of Milestone Capital Advisors

Edelweiss Group currently manages customer assets of over USD 26 billion, of which EAAA, has over USD 2 billion of assets under management.

Uber is "deliberately investing" in products like Uber Eats and Pool as well as "high-potential" markets in the Middle East and India even as the cab hailing app saw its losses widening year-on-year in the June 2018 quarter. (Photo: AP)

Investing in Uber Eats, high-potential markets like Middle East, India: CEO

The cab hailing app saw its losses widening year-on-year in the June 2018 quarter.

Sun Pharmaceutical Industries on Tuesday reported a consolidated net profit of Rs 982.51 crore for the quarter ended June 30, 2018.

Sun Pharma Q1 net profit at Rs 982.51 crore

The company had posted a net loss of Rs 424.92 crore for the corresponding period of 2017-18.

Autos

Volvo has officially announced that the XC40 will be their first all-electric vehicle.

XC40 to lead charge for Volvo’s electrification plans

Volvo has officially announced that the XC40 will be their first all-electric vehicle.

The company plans to launch the new Ciaz on August 20.

Maruti to open bookings for new Ciaz from tomorrow

The new Ciaz can be booked with an initial payment of Rs 11,000 at any of the 319 NEXA showrooms.

Yamaha had launched the third-generation R15 V3.0 at the Auto Expo 2018.

Yamaha hikes R15 prices

Yamaha had launched the third-generation R15 V3.0 at the Auto Expo 2018.

Hero MotoCorp on Monday said it is all set to start retail sales of new premium motorcycle Xtreme 200R, priced at Rs 89,900 (ex-showroom Delhi).

Hero MotoCorp set to begin sales of Xtreme 200R priced at Rs 89,900

The company is re-entering the premium motorcycle segment and plans to launch more such models.

In Other News

A weak rupee will adversely affect the Indian industry as it has to extensively depend on imported inputs such as coking coal, steel scrap etc.

Rupee jitters bring double whammy for steel sector

Domestic steel demand grew at 8 per cent in the first quarter of 2018-19, according to JPC.

By working with your employer to restructure your CTC usefully, you can increase your in-hand income while lowering your tax.

Paid heavy taxes last year?

How can you avoid this heartburn? Here are a few ideas.

Terming Prime Minister Narendra Modi's speech as progressive, industry bodies on Wednesday said his nearly 90 minutes address to the nation from historic Red Fort reiterated the growing confidence of the world in the Indian growth story. (Photo: PTI)

Industry welcomes PM's firm resolve to place India among top economies

Rakesh Bharti Mittal said the speech reiterated the growing confidence of the world in the Indian growth.

A majority of wholesale markets and several commercial establishments across the country on Friday downed shutters as a mark of respect to former prime minister Atal Bihari Vajpayee.

Traders shut shops to pay homage to Atal Bihari Vajpayee

In Delhi all major wholesale and retail markets were closed and the markets wore a deserted look.

For the fourth consecutive year, the technology sector boasted the highest-paying jobs in the US, according to an annual report from Glassdoor.

5 out of 10 best paid US jobs in healthcare

The health-care industry offers the largest paychecks at the very top of the spectrum.