* AUTOMOBILES: India Ratings & Research has downgraded its outlook for the country's automobile sector to negative from stable, in the rating agency's first revision for the sector in six years.
* AVIATION: Emirates, Qatar Airways and Gulf Airways will plead their case for more seat entitlements at their meeting with Finance Minister P. Chidambaram and Civil Aviation Minister Ajit Singh early next week.
* COAL: The Supreme Court has directed the government to file a "comprehensive" affidavit to "justify" grant of 164 coal blocks, which have not been de-allocated, along with material detailing the process and rationale behind their allocation.
* ENERGY: In a move that could hit domestic gas producers hard, the finance ministry has asked the oil ministry to consider putting a cap on natural gas prices under the formula approved by a Cabinet panel last month. A formal request has been made by the Association of Oil and Gas Operators to the oil ministry, asking for extension of the production-sharing contract saying it is a global practice and that this is usually done till the end of the economic life of the reservoir.
* INSURANCE: Chairman of Insurance Regulatory and Development Authority T.S. Vijayan said banks must use their large customer base to increase insurance penetration in the country.
* INVESTMENT: Finance Minister P. Chidambaram's deadline for a decision on increasing foreign direct investment limits by the third week of July is likely to be missed as key ministers including information & broadcasting, atomic energy, civil aviation and home affairs are yet to submit their views.
* PHARMACEUTICALS: National Pharmaceutical Pricing Authority has capped prices of 25 widely used drugs including painkillers and antibiotics. Government has amended guidelines for clinical trials and has allowed compensation to participants in clinical trials that go wrong resulting in injury or death even if it is not caused by the drug being tested.
* POWER: Indonesia 's plan to restrict exports of coal is likely to jack up generation power cost of several companies such as TATA POWER, ADANI POWER, LANCO INFRATECH, ESSAR POWER and NTPC, leading to rise in power rates.
* REGULATORY: SEBI has rejected the request of department of disinvestment to exempt loss-making public sector enterprises from complying with the 10% minimum public shareholding norm set by the regulator. SEBI has barred Rose Valley Hotels and Entertainments and Rose Valley Real Estate Constructions from raising money from the public under its holiday membership plan.
* RETAIL: Online retailer Flipkart has raised $200 mln from existing investors in a deal that marks the single-largest round of funding for an Indian e-commerce company and provides it with enough firepower to take on global leader Amazon. Three executives working closely with foreign retailers have said global retail chains have decided to await outcome of state polls later this year and 2014 general elections before pledging investments in India .
* TELECOM: Telecom Regulatory Authority of India has issued new guidelines for activation and de-activation of value-added services, asking telecom service providers to de-activate a value-added service within four hours from the receipt of such a request. The Supreme Court has deferred hearing on the probe by the Central Bureau of Investigation into the Aircel-Maxis deal till Aug 1.
* AVIATION: Emirates, Qatar Airways and Gulf Airways will plead their case for more seat entitlements at their meeting with Finance Minister P. Chidambaram and Civil Aviation Minister Ajit Singh early next week.
* COAL: The Supreme Court has directed the government to file a "comprehensive" affidavit to "justify" grant of 164 coal blocks, which have not been de-allocated, along with material detailing the process and rationale behind their allocation.
* ENERGY: In a move that could hit domestic gas producers hard, the finance ministry has asked the oil ministry to consider putting a cap on natural gas prices under the formula approved by a Cabinet panel last month. A formal request has been made by the Association of Oil and Gas Operators to the oil ministry, asking for extension of the production-sharing contract saying it is a global practice and that this is usually done till the end of the economic life of the reservoir.
* INSURANCE: Chairman of Insurance Regulatory and Development Authority T.S. Vijayan said banks must use their large customer base to increase insurance penetration in the country.
* INVESTMENT: Finance Minister P. Chidambaram's deadline for a decision on increasing foreign direct investment limits by the third week of July is likely to be missed as key ministers including information & broadcasting, atomic energy, civil aviation and home affairs are yet to submit their views.
* PHARMACEUTICALS: National Pharmaceutical Pricing Authority has capped prices of 25 widely used drugs including painkillers and antibiotics. Government has amended guidelines for clinical trials and has allowed compensation to participants in clinical trials that go wrong resulting in injury or death even if it is not caused by the drug being tested.
* POWER: Indonesia 's plan to restrict exports of coal is likely to jack up generation power cost of several companies such as TATA POWER, ADANI POWER, LANCO INFRATECH, ESSAR POWER and NTPC, leading to rise in power rates.
* REGULATORY: SEBI has rejected the request of department of disinvestment to exempt loss-making public sector enterprises from complying with the 10% minimum public shareholding norm set by the regulator. SEBI has barred Rose Valley Hotels and Entertainments and Rose Valley Real Estate Constructions from raising money from the public under its holiday membership plan.
* RETAIL: Online retailer Flipkart has raised $200 mln from existing investors in a deal that marks the single-largest round of funding for an Indian e-commerce company and provides it with enough firepower to take on global leader Amazon. Three executives working closely with foreign retailers have said global retail chains have decided to await outcome of state polls later this year and 2014 general elections before pledging investments in India .
* TELECOM: Telecom Regulatory Authority of India has issued new guidelines for activation and de-activation of value-added services, asking telecom service providers to de-activate a value-added service within four hours from the receipt of such a request. The Supreme Court has deferred hearing on the probe by the Central Bureau of Investigation into the Aircel-Maxis deal till Aug 1.
