* AUTOMOTIVE: General Motors India is facing a fine of at least 34 mln rupees for violating technical specifications to meet emission norms in manufacturing of Tavera that led to the recall of 114,000 vehicles.
* AVIATION: Singapore based Tiger Air is seeking a commercial tie-up with Indian budget carriers and is in talks for the same with SPICEJET and INDIGO. Etihad Airways launched discounted fares on select routes from all destinations it flies in India .
* COAL: The coal ministry has decided to auction coal blocks after receiving a 'comfort letter' from the ministry of environment and forests that will give assurance of green clearances to the bidders but will not be legally tenable.
* COMMODITY: The government has decided to ban e-series contracts on the National Spot Exchange. Investors who have put in 1 mln or less will be given priority by the National Spot Exchange Ltd while making payouts, according to a directive from the commodities market regulator.
* INFRASTRUCTURE: Mumbai Metropolitan Region Development Authority has failed to get any bid for the 100-bln-rupee Mumbai Trans-Harbour Link, and will now go ahead with the project on its own.
* INSURANCE: Aviva plans to sell its 26% stake in Indian joint venture with Dabur's founding family, the Burmans. The stake may be valued at around $250 mln. The Finance Ministry has sought details from Life Insurance Corporation pertaining to its investment in GITANJALI GEMS.
* INVESTMENT: The government has asked public sector companies to raise 145 bln rupees through tax-free bonds to be issued only to sovereign wealth funds in the overseas market.
* METALS: The government is exploring options to boost iron ore exports by incentivising them through a partial rollback of 30% duty on raw material to
increase forex earnings to curb the current account deficit.
* PHARMACEUTICALS: The government may check readiness of the pharma industry to manufacture a generic version of Swiss drug major Roche's anti-cancer drug Trastuzumab before considering the issuance of a compulsory licence for the drug. Seven more pharma companies, including NOVARTIS INDIA moved the Delhi High Court to challenged government's new drug pricing order that asked them to slash prices of 348 medicines.
* PORTS: The government is planning to award the proposed two new major port projects in West Bengal and Andhra Pradesh in the next financial year starting April.
* POWER: Electricity generation in the country rose 4.9% on year to 80.19 bln kWh in July, primarily on account of a spurt in hydropower generation.
* REAL ESTATE: Unitech Corporate Parks has shortlisted two global private equity funds, a sovereign wealth fund of Singapore and a Canadian pension fund to make the second round of bids for its 3.6 mln sq ft IT special economic zone in Gurgaon near Delhi .
* REGULATORY: The Securities and Exchange Board of India is likely to write to the management of Holcim in India expressing concern over the recent group-level restructuring, which will result in a cash transfer of 35 bln rupees from Ambuja Cements to Holcim. Foreign-owned companies looking to invest in their downstream operations or joint ventures are facing unexpected hurdles due to a recent RBI notification on foreign investments in Indian companies.
- Could trip Holcim-AMBUJA deal. As an interim measure, the government may hand over the regulation of spot exchanges to stock market regulator Securities and Exchange Board of India in the aftermath of the controversy surrounding the National Spot Exchange.
* TELECOM: The finance ministry seems to be in no mood to hold conciliation talks over 112-bln-rupee tax dispute with telecom major Vodafone under a neutral authority.
* TRADE: India 's special economic zones exported goods worth 1.13 trln rupees during Apr-Jun, comprising around 28% of the country's total shipments during the period. Finance Ministry is pushing for a cut in duty drawback rates as the realization of exporters has gone up due to depreciation of the rupee.
* AVIATION: Singapore based Tiger Air is seeking a commercial tie-up with Indian budget carriers and is in talks for the same with SPICEJET and INDIGO. Etihad Airways launched discounted fares on select routes from all destinations it flies in India .
* COAL: The coal ministry has decided to auction coal blocks after receiving a 'comfort letter' from the ministry of environment and forests that will give assurance of green clearances to the bidders but will not be legally tenable.
* COMMODITY: The government has decided to ban e-series contracts on the National Spot Exchange. Investors who have put in 1 mln or less will be given priority by the National Spot Exchange Ltd while making payouts, according to a directive from the commodities market regulator.
* INFRASTRUCTURE: Mumbai Metropolitan Region Development Authority has failed to get any bid for the 100-bln-rupee Mumbai Trans-Harbour Link, and will now go ahead with the project on its own.
* INSURANCE: Aviva plans to sell its 26% stake in Indian joint venture with Dabur's founding family, the Burmans. The stake may be valued at around $250 mln. The Finance Ministry has sought details from Life Insurance Corporation pertaining to its investment in GITANJALI GEMS.
* INVESTMENT: The government has asked public sector companies to raise 145 bln rupees through tax-free bonds to be issued only to sovereign wealth funds in the overseas market.
* METALS: The government is exploring options to boost iron ore exports by incentivising them through a partial rollback of 30% duty on raw material to
increase forex earnings to curb the current account deficit.
* PHARMACEUTICALS: The government may check readiness of the pharma industry to manufacture a generic version of Swiss drug major Roche's anti-cancer drug Trastuzumab before considering the issuance of a compulsory licence for the drug. Seven more pharma companies, including NOVARTIS INDIA moved the Delhi High Court to challenged government's new drug pricing order that asked them to slash prices of 348 medicines.
* PORTS: The government is planning to award the proposed two new major port projects in West Bengal and Andhra Pradesh in the next financial year starting April.
* POWER: Electricity generation in the country rose 4.9% on year to 80.19 bln kWh in July, primarily on account of a spurt in hydropower generation.
* REAL ESTATE: Unitech Corporate Parks has shortlisted two global private equity funds, a sovereign wealth fund of Singapore and a Canadian pension fund to make the second round of bids for its 3.6 mln sq ft IT special economic zone in Gurgaon near Delhi .
* REGULATORY: The Securities and Exchange Board of India is likely to write to the management of Holcim in India expressing concern over the recent group-level restructuring, which will result in a cash transfer of 35 bln rupees from Ambuja Cements to Holcim. Foreign-owned companies looking to invest in their downstream operations or joint ventures are facing unexpected hurdles due to a recent RBI notification on foreign investments in Indian companies.
- Could trip Holcim-AMBUJA deal. As an interim measure, the government may hand over the regulation of spot exchanges to stock market regulator Securities and Exchange Board of India in the aftermath of the controversy surrounding the National Spot Exchange.
* TELECOM: The finance ministry seems to be in no mood to hold conciliation talks over 112-bln-rupee tax dispute with telecom major Vodafone under a neutral authority.
* TRADE: India 's special economic zones exported goods worth 1.13 trln rupees during Apr-Jun, comprising around 28% of the country's total shipments during the period. Finance Ministry is pushing for a cut in duty drawback rates as the realization of exporters has gone up due to depreciation of the rupee.
