Illegal subsidies hurt Indian trade, biz: Govt

New Delhi (PTI): The government on Monday said illegal subsidies by trade partners and other countries hurt Indian trade and business, and that corrective actions are taken in the form of invoking dispute settlement mechanisms.

Boeing launches global support centre in India

New Delhi (PTI): Boeing on Monday announced the launch of its Global Support Centre (GSC) in India and will also set up a new logistics centre in the country as the aircraft maker seeks to expand its presence in India.

New Delhi (PTI): Gold price jumped `114 to `56,982 per 10 gram in the national capital on Monday, according to HDFC Securities. In the previous trade, the precious metal had settled at `56,868/10 gram. Silver, however, declined `319 to `66,802/kg. Spot gold prices in the Delhi markets traded at `56,982 per 10 gram, up `114 per 10 gram. In the overseas market, gold was trading flat at $1,863.10/ounce and silver quoted lower at $21.97 per ounce.

GOLD ETFs REGISTER `199-CR OUTFLOW

In January 2023

The Department of Commerce on February 9, 2023 had stated that illegal subsidies by trade partners and other countries hurt Indian trade and business, Minister of State for Corporate Affairs Rao Inderjit Singh told the Lok Sabha.

“At a multilateral forum, the disciplines regulating the provision of subsidies and the use of countervailing measures to offset injury caused by subsidized imports are addressed in

Passenger

New Delhi (PTI): Gold exchange traded funds (ETFs) witnessed a net outflow of `199 crore in January, making it the third monthly withdrawal in a row, with investors preferring equities over other segments on buoyant record SIP flow. This was in comparison to a net outflow of `273 crore registered in the segment in December and `195 crore in November. Prior to that, Gold ETFs attracted `147 crore in October, data with Amfi showed. Despite the outflows, the category saw its net assets under management (AUM) rising to `21,836 crore at the end of Jan.

YAMAHA BIKES TO BE E20-COMPLIANT BY

DECEMBER END the Agreement on Subsidies and Countervailing Measures,” he said in a written reply. rise 17% to 2,98,093 units

New Delhi (PTI): Japanese two-wheeler major Yamaha on Monday said its entire motorcycle range in India would be compliant with E20 fuel by the end of this year. The company also announced that its 149cc155 cc bike range in the country would now come with Traction Control System (TCS) as a standard feature. Yamaha used to offer only R15M and R15V4 with the TCS and now FZS-Fi V4 Deluxe, FZ-X and MT-15 V2 Deluxe would also come with the technology.

According to him, the subsidies whether they are prohibited (illegal) or actionable are determined by three major steps within the Subsidies and Countervailing Measures agreement.

The company has launched its first GSC in India that will provide customised operational efficiency and safety improvement projects for its airline customers, civil aviation regulatory bodies and other industry stakeholders.

Besides, it will set up a new logistics centre which will cater to customers, according to two releases. Investment details were not disclosed.

New Delhi (PTI): Passenger vehicle wholesales rose 17% in January to 2,98,093 units driven by robust offtake of utility vehicles, including the fast-growing sports utility vehicles, industry body SIAM said on Monday.

The overall passenger vehicle dispatch from companies to dealers was 2,54,287 units in January 2022. Utility vehicle sales rose to 1,49,328 units last month from 1,16,962 units in January last year. Simi- larly, passenger car dispatches grew to 1,36,931 units from 1,16,962 units.

Wholesales of vans also increased to 11,834 units from 10,632 units in the year-ago period.

Financial Times Mba Rankings

DOMESTIC CV SALES VOLUME MAY GROW 9-11% IN FY24: REPORT ary, most of the other items, including ‘fuel and light’ became dearer.

Mumbai (PTI): Domestic commercial vehicle sales volume is expected to grow 9-11% in FY24 driven by medium and heavy commercial vehicles and an estimated economic growth of around 6%, rating agency CRISIL said on Monday. Besides, an increased allocation to infrastructure spending in the Union Budget for next fiscal year will support demand, it said. This would be the third consecutive year of growth in the domestic CV industry, according to CRISIL.

The rate of price rise in the food basket was 5.94% in January, up from 4.19% in the preceding month and 5.43% in the year-ago month, as per data released by the National Statistical Office (NSO).

The inflation in rural areas was higher at 6.85% as compared to 6% in the urban centres.

Last week, the RBI -which has been mandated to ensure inflation remains below 6%-- had raised the key short-term rate (repo) by 25 basis points to 6.5% with an aim to check price rise.

The Reserve Bank has projected the retail inflation at 6.5% in 2022-23, with January-December quarter at 5.7%.

Headline CPI inflation moderated by 105 basis points during NovemberDecember 2022 from its level of 6.77% in October 2022. This was due to a softening in food inflation on the back of a sharp deflation in vegetable prices.

Sensex extends losses for 2nd day; IT, bank stocks top drags

Mumbai (PTI): Equity benchmark Sensex declined around 251 points on Monday, pressured by heavy selling in IT and bank stocks amid a mixed trend overseas. A weak rupee further weighed on sentiment, traders said.

Sliding for the second straight session, the 30-share BSE Sensex ended 250.86 points or 0.41% lower at 60,431.84. During the session, the index touched a high of 60,740.95 and a low of 60,245.05.

On similar lines, the broader NSE Nifty dropped 85.60 points or 0.48% to finish at 17,770.90.

SBI was the biggest loser in the Sensex pack, tumbling 2.83%, followed

Renault-Nissan to invest `5.3K cr, plans six new vehicles

Chennai (PTI): FrancoJapanese automotive alliance Renault-Nissan on Monday announced an investment of $600 million ( ` 5,300 crore) in India to bring six new products, including two small electric cars, and upgradation of their Chennai plant. The new vehicles will also include four SUVs with conventional engines, the first of which will hit the market by 2025. Of the six vehicles, three each will be for Nissan and Renault.

ISB is once again India’s No. 1 B-School

Hyderabad (PTI): Indian School of Business (ISB) and Indian Institutes of Management at Ahmedabad, Bangalore, Calcutta, Indore and Lucknow figure in the Financial Times (FT) Global MBA 2023 ranking.

While ISB slipped to 39th rank from 32nd in 2023, IIMs at Indore and Lucknow secured their place in the chart. IIM Ahmedabad improved its position to 51 from 62 in 2022.

However, ISB retained its No. 1 position when it comes to B-schools in India. The Post Graduate Programme (PGP) from ISB continues to be ranked No. 1 in India in the FT Global MBA Ranking 2023.

` FALLS 15 PAISE TO CLOSE AT 82.73/US DOLLAR

by Infosys, TCS, Bajaj Finance, Tech Mahindra, Wipro and Axis Bank.

In contrast, Titan, L&T, NTPC, Power Grid, Sun Pharma, ITC and HDFC twins were among the prominent winners, rising as much as 1.97%.

In the broader market, the BSE midcap and smallcap indices dropped up to 1.25%.

Mumbai (PTI): The rupee fell by 15 paise to close at 82.73 (provisional) against the US currency on Monday, weighed down by gains in the greenback in the overseas markets and a muted trend in domestic equities. At the interbank foreign exchange market, the rupee opened at 82.68 against the greenback, and fell to an intra-day low of 82.77. It finally settled at 82.73 (provisional), down 15 paise over its previous close.

RIL seeks $12.75 for CBM gas, ONGC wants $9.35

New Delhi (PTI): Billionaire Mukesh Ambani’s Reliance Industries Ltd and state-owned Oil and Natural Gas Corporation (ONGC) are separately auctioning natural gas extracted from coal seams at prices linked to Brent crude oil price. Reliance is seeking a minimum $12.75 per million British thermal unit for coal bed methane (CBM) from a block in Shahdol district of Madhya Pradesh, while ONGC wants $9.35 for the same kind of fuel from North

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Karanpura in Jharkhand, according to tender documents. Reliance has sought bids for sale of 0.65 million standard cubic meters per day from CBM block SP(West)-CBM-2001/1 for one year beginning April 1, 2023, the company’s tender document showed.

Gst Compensation To Some States Delayed

DUE TO LACK OF AG CERTIFICATE: SITHARAMAN

ISB RANK IN INDIA & ABROAD

z Indian School of Business (ISB) and Indian Institutes of Management at Ahmedabad, Bangalore, Calcutta, Indore and Lucknow figure in the Financial Times (FT) Global MBA 2023 ranking.

New Delhi (PTI): Union Finance Minister Nirmala Sitharaman on Monday said GST compensation to some states is delayed due to non-availability of AG’s authenticated certificate. Replying to a supplementary question, she also said that `86,912 crore has been released for the Goods and Services Tax (GST) compensation payable to all states up to May 31, 2022.

M&A DEALS JUMP

40% TO $163 BILLION

IN 2022: REPORT

In keeping with its consistent performance over the years in these rankings, ISB is the only Indian Bschool in the top 50 worldwide. It has been ranked No. 6 in Asia.

The weighted salary of ISB graduates stood at z While ISB slipped to 39th rank from 32nd in 2023, IIMs at Indore and Lucknow secured their place in the chart. IIM Ahmedabad improved its position to 51 from 62 in 2022. z The Post Graduate Programme (PGP) from ISB continues to be ranked No. 1 in India.

$161,331 while it was $186,420 per annum in case of IIM-A, FT said. Columbia Business School in the United States topped the global chart followed by Insead France and IESE Business School in Spain.

Mumbai (PTI): The $57-billion HDFC-HDFC Bank deal helped the overall merger and acquisition activity in the country rise by 40% to reach $163 billion in 2022, a report said on Monday. Strategic deals like the one involving the HDFC twins accounted for a bulk $126 billion of the overall quantum, while transactions involving private equity funds stood at $37 billion, the report by Deloitte, a consultancy firm, said.

Road Projects To Hike In Inflationlinked Toll Rates

Mumbai (PTI): Inflation-linked toll rates of various road projects will see a moderate hike of 2-5% in the next fiscal year due to falling wholesale price index, a report said on Monday. Rating agency Icra has revised down the outlook on the toll road sector to stable from positive for FY24, citing the easing wholesale price inflation which fell to 4.95% in December 2022. The WPI based inflation is expected to fall further.

The fact is that mediocre people only listen and pay attention when it personally matters to them; Reach for excellence by learning from all.

—Dr Jagdeesh Chandra, CEO & Editor-in-Chief, First India