22 March: News Roundup

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Business Standard

Ø  PNB pegs FY18 fraud loss at Rs 14,500 crore

Ø  Spending talks nearly done, $1.3T bill to be unveiled

Ø  Complaint against jeweller Kanishk for Rs 825-cr fraud

Ø  NuMetal moves NCLT to stay eligible for Essar Steel

Ø  NHPS gets cabinet nod, scheme portable across country

Ø  Mohandas Pai says 60% of Indian startups will fail

Ø  Need to connect all banks with mobile banking: Report



Ø  Lenders reject bids by Numetal, ArcelorMittal for Essar Steel

Ø  PNB blames concurrent auditor for not flagging off SWIFT transactions

Ø  Abbott India gets aggressive on new product launches, plans 110 in 5 years

Ø  At $768 bn, Amazon is second most valuable US-listed company; tops

Ø   US slaps anti-dumping duty on steel wire imported from India, China

Ø   China allows foreigners to enter $27 trn payments market

Business Line



Mint

Ø  US slaps anti-dumping duty on Chinese, Indian steel flanges

Ø  Indian firms most concerned about rising protectionism: Report

Ø  Five mines of NMDC receive 5 Star Rating

Ø  Shortage of coal continues to hit power generation

Ø  Tata Group, DP World discuss cooperation

Ø  Sun Pharma gets USFDA nod for plaque psoriasis drug



Ø  Lenders restart Essar Steel auction, after rejecting Numetal, ArcelorMittal bids

Ø  Coal India to set up plants for coal gasification

Ø  RCom gets bondholders’ approval for asset monetization plan

Ø  Sebi mulls overhaul of algo-trading norms

Ø  Bayer clears EU hurdle for Monsanto deal with BASF sale

Financial Express



Financial Chronicle

Ø  S&P’s boost for Modi, says banking sector could witness turnaround in FY20

Ø  Draft policy seeks stable regime for agriculture exports

Ø  Supreme Court directs JP Associates to deposit Rs 200 crore by May 10



Ø  Mutual fund NAVs are eroding for equity and debt

Ø  Rupee pushed down by global monetary uncertainty & high CAD

Ø  Force Motors, Rolls-Royce Power Systems ink Rs 300cr JV

Ø  LVMH adds $5,200 Hublot to roster of priciest smartwatches