* AGRICULTURE: The Genetic India Appraisal Committee is likely to take a call on over 5 applications for field trials of genetically modified crops in the next few weeks.
* AUTOMOBILES: Audi has launched the RS 7 Sportback in India , with a price tag of 12.8 mln rupees.
* AVIATION: Dubai-based airline Emirates has announced special return fare for Chennai-Dubai route starting at 21,048 rupees.
* BANKING: The Reserve Bank of India has selected Clearing Corp of India to act as a local operating unit for issuing globally compatible legal entity identifiers. Indian Banks' Association Chief Executive M.V. Tanksale has said boards of banks in the country will have to take their own decisions on whether to opt for insurance broking business model.
- The United Forum of Bank Unions has rejected Indian Banks' Association's offer of a 5% hike on payslip but further negotiations are scheduled on Jan 29.
* CONSUMER DURABLES: Toshiba will purchase 26% stake from existing shareholders, including private equity investor India Value Fund Advisors.
* DEFENCE: Rising clamour from lobbyists in American and European armament markets has forced the government to revisit the issue of raising the foreign direct investment cap for the sector.
* ENERGY: The coal ministry has issued show-cause notices to Madhya Pradesh State Mining Corp and Damodar Valley Corp for delay in developing allotted coal blocks. The Ministry of Petroleum and Natural Gas does not have any proposal to increase the cap on the number of subsidised cylinders of liquefied petroleum gas provided to the masses, said Oil Secretary Vivek Rae.
- The government will offer at least 56 oil and gas blocks in its next round of auction of exploration blocks next week. TATA STEEL, Aditya Birla group alleged to be part of a 600-bln-rupee mining scam in Odisha.
* ENVIRONMENT: STEEL AUTHORITY OF INDIA, TATA STEEL, Essel Mining and Odisha Mining Corp are among the 70 entities that have violated environment and forest laws.
* FMCG: Parle Products has taken an indirect cut of 4% on Parle-G biscuits, 17% on Bourbon biscuits.
* GOLD: Officials are in talks to cut the record high import duty on gold and relax rules on exports.
* INFRASTRUCTURE: LARSEN & TOUBRO, Jaypee and GVK are looking at selling stake in several projects and subsidiaries this year to reduce their finance costs.
* REAL ESTATE: Property owners in Mumbai have received interim relief from a new capital value-based property tax regime that may increase taxes by up to 300%.
* REGULATORY: The Securities and Exchange Board of India will now hold individuals along with companies accountable for misdeeds.
* RETAIL: Flipkart has launched its own fashion brand and could also acquire another online apparel company to increase sales of high-margin products on its portal. Denmark-based fashion house Bestseller may soon apply for entry into India 's multi-brand retail segment.
- Blackberrys has joined the race to acquire Spykar Lifestyle. Others in the fray to acquire stake include FUTURE LIFESTYLE, India Value Fund Advisors, and Spencer's Retail.
* TELECOM: Telecom Regulatory Authority of India has suggested a reduction in the bank guarantee given by mobile operators and sought some clarifications on network roll-out conditions for the spectrum auctions slated for Feb 3.
- The Group on Ministers looking into a revival strategy for Bharat Sanchar Nigam and Mahanagar Telephone Nigam would meet on Wednesday.
* TOURISM: Foreign tourist arrivals in India rose 4.1% on year to 6.848 mln in 2013.
* AUTOMOBILES: Audi has launched the RS 7 Sportback in India , with a price tag of 12.8 mln rupees.
* AVIATION: Dubai-based airline Emirates has announced special return fare for Chennai-Dubai route starting at 21,048 rupees.
* BANKING: The Reserve Bank of India has selected Clearing Corp of India to act as a local operating unit for issuing globally compatible legal entity identifiers. Indian Banks' Association Chief Executive M.V. Tanksale has said boards of banks in the country will have to take their own decisions on whether to opt for insurance broking business model.
- The United Forum of Bank Unions has rejected Indian Banks' Association's offer of a 5% hike on payslip but further negotiations are scheduled on Jan 29.
* CONSUMER DURABLES: Toshiba will purchase 26% stake from existing shareholders, including private equity investor India Value Fund Advisors.
* DEFENCE: Rising clamour from lobbyists in American and European armament markets has forced the government to revisit the issue of raising the foreign direct investment cap for the sector.
* ENERGY: The coal ministry has issued show-cause notices to Madhya Pradesh State Mining Corp and Damodar Valley Corp for delay in developing allotted coal blocks. The Ministry of Petroleum and Natural Gas does not have any proposal to increase the cap on the number of subsidised cylinders of liquefied petroleum gas provided to the masses, said Oil Secretary Vivek Rae.
- The government will offer at least 56 oil and gas blocks in its next round of auction of exploration blocks next week. TATA STEEL, Aditya Birla group alleged to be part of a 600-bln-rupee mining scam in Odisha.
* ENVIRONMENT: STEEL AUTHORITY OF INDIA, TATA STEEL, Essel Mining and Odisha Mining Corp are among the 70 entities that have violated environment and forest laws.
* FMCG: Parle Products has taken an indirect cut of 4% on Parle-G biscuits, 17% on Bourbon biscuits.
* GOLD: Officials are in talks to cut the record high import duty on gold and relax rules on exports.
* INFRASTRUCTURE: LARSEN & TOUBRO, Jaypee and GVK are looking at selling stake in several projects and subsidiaries this year to reduce their finance costs.
* REAL ESTATE: Property owners in Mumbai have received interim relief from a new capital value-based property tax regime that may increase taxes by up to 300%.
* REGULATORY: The Securities and Exchange Board of India will now hold individuals along with companies accountable for misdeeds.
* RETAIL: Flipkart has launched its own fashion brand and could also acquire another online apparel company to increase sales of high-margin products on its portal. Denmark-based fashion house Bestseller may soon apply for entry into India 's multi-brand retail segment.
- Blackberrys has joined the race to acquire Spykar Lifestyle. Others in the fray to acquire stake include FUTURE LIFESTYLE, India Value Fund Advisors, and Spencer's Retail.
* TELECOM: Telecom Regulatory Authority of India has suggested a reduction in the bank guarantee given by mobile operators and sought some clarifications on network roll-out conditions for the spectrum auctions slated for Feb 3.
- The Group on Ministers looking into a revival strategy for Bharat Sanchar Nigam and Mahanagar Telephone Nigam would meet on Wednesday.
* TOURISM: Foreign tourist arrivals in India rose 4.1% on year to 6.848 mln in 2013.
