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Daily Archives: January 2, 2019

Small growers may get tea estates’ support

tea estates

‘Project Trinitea to create better value’ Recognising the rising importance of small tea growers (STG) in the supply chain, tea estates in North India are testing a project called ‘Trinitea,’ which aims at providing support to the STG at the farm and market level. A MoU was signed between the …

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Aviation fuel prices slashed by 14.7%

prices slashed

It is now cheaper than petrol, diesel Aviation turbine fuel (ATF) prices have been cut for the second month in a row by a record 14.7% for the month of January 2019, according to a notification issued by Indian Oil Corporation and other State-owned oil marketing companies. Jet fuel will …

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Auto sales remain muted in December

muted in December

Poor consumer sentiment hurts sales Maruti Suzuki sold more than 1.19 lakh passenger vehicles (PVs) in the domestic market in December 2018, an increase of 1% from the over 1.18 lakh units sold in the year-ago month. The company said while the sales of mini segment cars (Alto and Wagon …

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Reserve Bank relaxes debt recast norms for MSMEs


Loans of up to Rs. 25 crore eligible for relaxation of provision Following a demand from the government for a debt recast package for micro, small and medium enterprises (MSMEs), the Reserve Bank of India (RBI) has relaxed the provisioning norms for lenders for restructuring loans of up to Rs. …

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‘Banks unfairly charged for soiled notes’

soiled notes

Panel questions rationale behind move; says banks stretched to help Centre post note ban The Committee on Government Assurances has questioned the rationale behind banks being asked to bear the cost of soiled and counterfeit notes, particularly during the demonetisation exercise of 2016. In its report tabled in the Rajya …

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GST collections down for second month in a row

month in a row

At Rs. 94,726 cr. in December, it is lower than the Rs. 97,637 cr. collected in November The government’s collections from the Goods and Services Tax (GST) declined for the second month in a row to Rs. 94,726 crore in December, official data released on Tuesday showed. Collections declined from …

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Egypt could end term limits for Sisi

limits for Sisi

Supporters of Egyptian President Abdel Fattah al-Sisi are calling for constitutional changes that would allow him to stay in power once his second term ends in 2022. Backers of the former military chief want Parliament to discuss repealing an article limiting Presidents to two consecutive four-year terms. In an editorial …

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U.S., Israel officially quit UNESCO


The U.S. and Israel officially quit the UN’s educational, scientific and cultural agency (UNESCO) at the stroke of midnight, the culmination of a process triggered more than a year ago amid concerns that the organisation fosters anti-Israel bias. The withdrawal is mainly procedural, yet serves a new blow to UNESCO, …

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U.S., China vow to boost ‘cooperation’

China vow to boost

Trump hails ‘solid friendship’ with Xi The Presidents of China and the U.S. have exchanged messages vowing to boost cooperation despite a bruising trade war, on the 40th anniversary of the countries’ diplomatic relations, state media reported. In the messages sent on Tuesday, President Xi Jinping underlined the importance of …

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