* AUTOMOBILE: Hyundai Motor India sold 25,965 vehicles in the country in July, against 27,585 a year ago. Honda Motorcycle and Scooter India has sold a total of 287,177 units in July, the highest-ever monthly sales reported by the company.
- Honda Cars India locally sold 6,515 units of its recently launched Amaze compact sedan in July, hiking the company's total domestic volumes by more than twofold to 11,223 units.
* CORPORATE: Government has decided to broaden and deepen the definition of control of companies in case of FDI and include appointment of majority directors and control of management decision in the definition.
* EDIBLE OIL: Government has allowed duty-free import of rice bran till Sep 30.
* ENERGY: State-owned oil companies are seen incurring daily revenue losses of 3.79 bln rupees in the first half of August on sale of subsidised fuels, a 6% rise from the previous fortnight.
- RELIANCE INDUSTRIES, OIL AND NATURAL GAS CORP, and CAIRN INDIA are vying with global energy firms Shell, ConocoPhillips and ExxonMobil for 30 offshore oil and gas blocks put on offer by Myanmar .
* EXCHANGES: Department of Consumer Affairs has asked commodity market regulator to seek the rationale behind National Spot Exchange's move to merge
the delivery and settlement of all pending contracts and to defer them for 15 days.
* INDUSTRY: Aided by higher hydel power generation, power utilities in Andhra Pradesh decided to lift power cuts imposed on industrial users.
* MARKETS: Goldman Sachs has downgraded India 's rating to "underweight", citing sluggish economic growth, rising macroeconomic vulnerabilities, and tight liquidity.
* POWER: The ministry of power is planning to introduce hydro power obligation, which will make it mandatory for electricity distribution companies to buy a percentage of their requirement from hydel power stations.
* RAILWAYS: Cabinet has approved formation of rail tariff authority.
* RETAIL: Union Cabinet has approved relaxation in foreign direct investment norms for multi-brand retail, including the sourcing requirement from small scale enterprises.
* STEEL: Essar Steel India will raise $2 bln in pre-export finances and would use the proceeds for early repayment of existing rupee debt. ArcelorMittal has cut its full-year profit forecast on weaker steel demand in the US and Europe than previously expected.
* TELECOM: The Cabinet has approved 100% FDI in mobile call services via the automatic route. A special bench of the apex court will now hear the petitions of Bharti group head Sunil Bharti Mittal and Essar group promoter Ravi Ruia, who have challenged the trial court's order summoning them as accused in the excess spectrum grant case.
- The Supreme Court has restrained the Department of Telecom from levying damages or penalty on Loop Telecom Ltd for discontinuing mobile services on or after Jun 1, 2012 but asked the company to respond to other part of the Nov 22 show-cause notice that relates to alleged default on roll-out obligations.
- The Supreme Court has asked the industry association representing operators using the Global System for Mobile Communications platform to reply to the pleas of the Code Division Multiple Access body in the case related to one-time fee on excess spectrum held by companies.
- Honda Cars India locally sold 6,515 units of its recently launched Amaze compact sedan in July, hiking the company's total domestic volumes by more than twofold to 11,223 units.
* CORPORATE: Government has decided to broaden and deepen the definition of control of companies in case of FDI and include appointment of majority directors and control of management decision in the definition.
* EDIBLE OIL: Government has allowed duty-free import of rice bran till Sep 30.
* ENERGY: State-owned oil companies are seen incurring daily revenue losses of 3.79 bln rupees in the first half of August on sale of subsidised fuels, a 6% rise from the previous fortnight.
- RELIANCE INDUSTRIES, OIL AND NATURAL GAS CORP, and CAIRN INDIA are vying with global energy firms Shell, ConocoPhillips and ExxonMobil for 30 offshore oil and gas blocks put on offer by Myanmar .
* EXCHANGES: Department of Consumer Affairs has asked commodity market regulator to seek the rationale behind National Spot Exchange's move to merge
the delivery and settlement of all pending contracts and to defer them for 15 days.
* INDUSTRY: Aided by higher hydel power generation, power utilities in Andhra Pradesh decided to lift power cuts imposed on industrial users.
* MARKETS: Goldman Sachs has downgraded India 's rating to "underweight", citing sluggish economic growth, rising macroeconomic vulnerabilities, and tight liquidity.
* POWER: The ministry of power is planning to introduce hydro power obligation, which will make it mandatory for electricity distribution companies to buy a percentage of their requirement from hydel power stations.
* RAILWAYS: Cabinet has approved formation of rail tariff authority.
* RETAIL: Union Cabinet has approved relaxation in foreign direct investment norms for multi-brand retail, including the sourcing requirement from small scale enterprises.
* STEEL: Essar Steel India will raise $2 bln in pre-export finances and would use the proceeds for early repayment of existing rupee debt. ArcelorMittal has cut its full-year profit forecast on weaker steel demand in the US and Europe than previously expected.
* TELECOM: The Cabinet has approved 100% FDI in mobile call services via the automatic route. A special bench of the apex court will now hear the petitions of Bharti group head Sunil Bharti Mittal and Essar group promoter Ravi Ruia, who have challenged the trial court's order summoning them as accused in the excess spectrum grant case.
- The Supreme Court has restrained the Department of Telecom from levying damages or penalty on Loop Telecom Ltd for discontinuing mobile services on or after Jun 1, 2012 but asked the company to respond to other part of the Nov 22 show-cause notice that relates to alleged default on roll-out obligations.
- The Supreme Court has asked the industry association representing operators using the Global System for Mobile Communications platform to reply to the pleas of the Code Division Multiple Access body in the case related to one-time fee on excess spectrum held by companies.
