* AUTOMOBILES: General Motors India will hike prices across all its models by up to 10,000 rupees effective from the first week of June.
* AVIATION: Domestic airlines are likely to get waiver in landing route navigation and security charges. The aviation ministry is looking at imposing a cess of 40-50 rupees on fliers to create a 4-bln-rupee Essential Services Fund. IndiGo has rolled back the fee it had introduced for pre-selection of seats in domestic and international flights.
* COAL: The Central Bureau of Investigation has sought Supreme Court's consent to remove one of the officers probing the alleged irregularities in coal blocks allocation.
* ECONOMY: Morgan Stanley Research expects India 's annual inflation based on the new Consumer Price Index to fall to 6.5% by March 2014.
* EXCHANGES: United Stock Exchange has called for a special meeting of shareholders on May 29 to seek approval to cancel preferential rights of BSE. BSE holds 15% stake in United Stock Exchange.
* METALS: The Supreme Court-appointed Central Empowered Committee has ruled out allowing export of iron ore pellets from Karnataka-based mines.
* REGULATORY: The Securities and Exchange Board of India has clarified and modified the process of scheme of reconstructing, mergers and demergers
carried out by listed companies. SEBI has announced a set of broad guidelines on algorithmic trading which will require all stock brokers and trading members of exchanges who use this high-speed trading facility to undergo a system audit every six months.
* TAXATION: The government notified lowering of withholding tax rate on foreign investment in gilts and corporate bonds to 5% from 20%. Royalty payments by Indian companies to their overseas parent may be denied lower taxes under bilateral treaties if they fail to prove that the royalty receiver is the beneficial owner.
* WEATHER: Southwest monsoon, which had covered the entire Andaman Sea and more parts of Bay of Bengal Monday, has not make any further headway.
