* AUTO: Skoda Auto India has launched a special-edition variant of its Rapid sedan--the Rapid Leisure--at 906,000 rupees ex-showroom Delhi .
* AVIATION: AirAsia Berhad has announced a limited-period promotional campaign under which it is offering discounted fares on one-way flights from Indian cities to Bangkok and Kuala Lumpur .
* BANKING: Experience in the financial services space, reach in rural areas, and global presence make UAE Exchange & Financial Services a natural fit for receiving a new banking licence, Chief Operating Officer - Global Operations of the company said. In the quarter ended June, Indian banks restructured debt of 200 bln rupees against 150 bln rupees in the previous quarter.
* COAL: CBI has filed two applications in the coal blocks allocation case seeking modification of the Supreme Court's May 8 order. The agency is seeking the apex court's approval for allowing it to share case details with appropriate government authorities and make changes in the probe team.
- Planning Commission has set up a five-member committee on utilization of surplus coal by captive mines owners. B.K. Chaturvedi, member of the Commission, will head the panel. Government has decided to offer 12 coal blocks for exploration in the first round of auction.
* CURRENCY: With the rupee's fall against the US dollar, the finance ministry may have to give up savings that it had anticipated from the budgeted oil subsidy after fuel price hikes.
* ENERGY: State-run oil marketing companies have not yet got any direction from the RBI on buying dollars for importing crude oil, INDIAN OIL CORP CMD Butola has said. The state-owned oil companies' dollar purchases are "not very unpredictable", but these companies are working with the Reserve Bank of India to fine-tune the mechanism.
- The defence ministry has asked the armed forces to reduce fuel use by 20-40% as the sharp increase in prices has upset budget calculations.
* ELECTRONIC GOODS: The government has decided to review the preferential market access policy and has mandated that the procurement of security-related electronics products by private companies will not have domestic manufacturing requirements.
* INSURANCE: Life Insurance Corp will buy shares of around 400 bln rupees in the current financial year, a one-third increase over the previous year, partially blunting the impact of recent foreign institutional investors' outflows from Indian stocks.
* MONSOON: Rains were 4% above normal at 9.8 mm, as against the average 9.4 mm for the day, according to data released by India Meteorological Department.
* MINING: SAIL, TATA STEEL, and JINDAL GROUP among others that have filed petition in the Orissa High Court challenging the state government's order to shut down 57 iron ore, manganese, coal, chromite and bauxite mines over non-payment of stamp duty will be heard today. The government is set to consider a proposal to put restrictions on public-private joint ventures for developing mineral blocks, particularly coal mines, allocated to state run corporations and public sector undertakings under a special dispensation.
* POLICY: Congress-ruled Delhi and Karnataka will take the lead in kicking off the populist food security law starting with the poll-bound national Capital on Aug 20.
* RETAIL: Chief Executive Officers of Walmart and eBay will meet Commerce and Industry Minister Anand Sharma this week seeking policy clarifications and pitching for opening the doors wider.
* SUGAR: The government has decided to give states advance cash subsidy to fund sugar purchases for sale to public distribution system beneficiaries.
* TAXATION: Government has signed agreement with Albania for avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income and on capital.
* TELECOM; The Telecom Commission has put on hold divestment plans for Telecommunications Consultants India as it is actively considering proposals
to raise cash by exiting Bharti Hexacom, in which Telecommunications Consultants holds 30%.
* AVIATION: AirAsia Berhad has announced a limited-period promotional campaign under which it is offering discounted fares on one-way flights from Indian cities to Bangkok and Kuala Lumpur .
* BANKING: Experience in the financial services space, reach in rural areas, and global presence make UAE Exchange & Financial Services a natural fit for receiving a new banking licence, Chief Operating Officer - Global Operations of the company said. In the quarter ended June, Indian banks restructured debt of 200 bln rupees against 150 bln rupees in the previous quarter.
* COAL: CBI has filed two applications in the coal blocks allocation case seeking modification of the Supreme Court's May 8 order. The agency is seeking the apex court's approval for allowing it to share case details with appropriate government authorities and make changes in the probe team.
- Planning Commission has set up a five-member committee on utilization of surplus coal by captive mines owners. B.K. Chaturvedi, member of the Commission, will head the panel. Government has decided to offer 12 coal blocks for exploration in the first round of auction.
* CURRENCY: With the rupee's fall against the US dollar, the finance ministry may have to give up savings that it had anticipated from the budgeted oil subsidy after fuel price hikes.
* ENERGY: State-run oil marketing companies have not yet got any direction from the RBI on buying dollars for importing crude oil, INDIAN OIL CORP CMD Butola has said. The state-owned oil companies' dollar purchases are "not very unpredictable", but these companies are working with the Reserve Bank of India to fine-tune the mechanism.
- The defence ministry has asked the armed forces to reduce fuel use by 20-40% as the sharp increase in prices has upset budget calculations.
* ELECTRONIC GOODS: The government has decided to review the preferential market access policy and has mandated that the procurement of security-related electronics products by private companies will not have domestic manufacturing requirements.
* INSURANCE: Life Insurance Corp will buy shares of around 400 bln rupees in the current financial year, a one-third increase over the previous year, partially blunting the impact of recent foreign institutional investors' outflows from Indian stocks.
* MONSOON: Rains were 4% above normal at 9.8 mm, as against the average 9.4 mm for the day, according to data released by India Meteorological Department.
* MINING: SAIL, TATA STEEL, and JINDAL GROUP among others that have filed petition in the Orissa High Court challenging the state government's order to shut down 57 iron ore, manganese, coal, chromite and bauxite mines over non-payment of stamp duty will be heard today. The government is set to consider a proposal to put restrictions on public-private joint ventures for developing mineral blocks, particularly coal mines, allocated to state run corporations and public sector undertakings under a special dispensation.
* POLICY: Congress-ruled Delhi and Karnataka will take the lead in kicking off the populist food security law starting with the poll-bound national Capital on Aug 20.
* RETAIL: Chief Executive Officers of Walmart and eBay will meet Commerce and Industry Minister Anand Sharma this week seeking policy clarifications and pitching for opening the doors wider.
* SUGAR: The government has decided to give states advance cash subsidy to fund sugar purchases for sale to public distribution system beneficiaries.
* TAXATION: Government has signed agreement with Albania for avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income and on capital.
* TELECOM; The Telecom Commission has put on hold divestment plans for Telecommunications Consultants India as it is actively considering proposals
to raise cash by exiting Bharti Hexacom, in which Telecommunications Consultants holds 30%.
