High headlines: August exports shrink 12.6%; telcos sound alarm over 5G


August exports shrink 12.6%, commerce deficit hits Four-month excessive of $6.77 bn

After decreasing for 3 months, the tempo of contraction of India’s exports rose in August. Export earnings within the month declined by 12.6 per cent yr on yr, larger than July’s 10.2 per cent fall, as commerce in main international change earners reminiscent of petroleum, gems, electronics, and textiles continued to take a success. Outbound commerce stood at $22.7 billion, finishing six straight months of contraction. Learn Extra

Completely clear on zero tolerance for hate speech at Fb: India MD

Weeks after an argument broke out round Fb’s political leanings, the India head of the American social media big has mentioned in an interview that the corporate doesn’t revenue from hate speech whereas detailing the in-house checks and balances. The Menlo Park-headquartered agency was accused of ignoring a Bharatiya Janata Celebration chief’s hate speech on the social media platform following an advisory from the corporate’s public coverage staff. Learn Extra

Main defaults in our corp bond holdings resulting from Covid unlikely: LIC chief

Regardless of the grim financial state of affairs and in distinction with the sharp contraction most Indian corporations are anticipated to witness, Life Insurance coverage Company of India (LIC) expects to develop its enterprise in 2020-21 (FY21). The insurer shouldn’t be contemplating cutting down its targets. In a chat with Subrata Panda, LIC Chairman M R Kumar speaks of the life insurance coverage sector, the corporate’s progress targets, beneficial properties from fairness funding, and the implications of the pandemic for company India. Learn Extra

Suitors opting out of race for Lavasa over fall in realty costs

High suitors of Lavasa Company, together with Haldiram Snacks Pvt Ltd and Oberoi Realty, have stop the race to accumulate the debt-laden firm, citing falling actual property costs as a result of Covid-19 pandemic. A subsidiary of building main HCC, Lavasa had defaulted on financial institution loans value Rs 7,700 crore, prompting its lenders to ship it to the Nationwide Firm Legislation Tribunal (NCLT) in 2018 for debt decision underneath the Insolvency and Chapter Code (IBC). Learn Extra

All Delhi Metro traces operational however ridership only a fraction of earlier

Per week after it resumed operations, Delhi Metro is displaying a pick-up in ridership. On September 14, the mass speedy transit community ferried about 250,000 riders. Although a pointy surge from eight,300 passengers within the first few hours of its restart on September 7, the quantity remains to be nowhere near the 6-million common each day ridership of Delhi Metro earlier than the nationwide lockdown kicked in on March 25. Learn Extra

Telecom operators sound alarm over India-specific normal for 5G

Telecom operators are locked in a bitter battle with key members of the Telecommunications Requirements Growth Society, India (TSDSI) for making an attempt to push by means of an India-specific normal for 5G referred to as TSDSI Radio Interface Customary or RIT. The operators would moderately associate with the worldwide requirements set by the third Era Partnership Mission or 3GPP. Learn Extra

Blackstone, Companions Group Holding in race to accumulate Piramal Glass

Blackstone Group and Companions Group Holding AG are the 2 remaining bidders vying for a controlling stake in Piramal Enterprises Ltd’s glass unit, individuals accustomed to the matter mentioned. The funding corporations have progressed to the ultimate spherical of bidding for India’s Piramal Glass, the individuals mentioned, asking to not be recognized as the data is non-public. Learn Extra

Adani Inexperienced Power’s market valuation crosses Rs 1 trillion mark

Adani Inexperienced Power has entered the membership of corporations commanding a market valuation of Rs 1 trillion, helped by steady rally in its share worth. The corporate can also be Adani Group’s most valued agency when it comes to market valuation. Learn Extra

Govt presents first batch of supplementary demand for grants: An explainer

The Centre has introduced to Parliament its first batch of supplementary demand for monetary grants to be made to varied depart­ments. The demand is to spend an extra Rs 2.36 trillion in FY21. The Centre presents its annual spending plan two months forward of the start of a brand new fiscal yr. Learn Extra

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