News Roundup: 23 July

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Business Standard

Ø  Trade issue: India under pressure from 15 APac nations

Ø  Oil PSUs spend 20% of annual capex in Q1

Ø  G20 ministers call for dialogue on trade issues: Draft

Ø  Maran loses Rs 1,323-cr arbitration against Spicejet

Ø  Walky-talky spectrum allocation: Trai wants no auction

Ø  Sebi norms: 291 listed firms need to split CMD posts

Ø  Govt unlikely to move ahead on MMTC-STC merger



Ø  Cross-border insolvency rules: Govt mulls adopting UN legal model

Ø  Synthetic textiles to become 5-7% cheaper on GST rate cut on fabric

Ø  Sterlite Copper's closure to impact turnover of Rs 600 bn for industry: CEO

Ø  Combined net profit of top 23 auto cos just 2.79% of gross turnover in FY17

Ø  GST rate cut, return simplification to increase revenue, compliance: CII

Business Line



Mint

Ø  US pushes for diluting protecting access to affordable medicines in draft negotiations

Ø  Orient Cement plans Rs. 2,000-cr expansion

Ø  Reliance Power net up 3% to Rs 237.33 cr

Ø  US sanctions on Iran pose risk to profitability: MRPL

Ø  Debt downgraded, ILFS road arm says facing defaults



Ø  BSNL aims to sell 10,000 satellite phones by March 2019

Ø  Housing sales in Noida, Greater Noida rise 51% in Q2, dip 52% in Gurgaon: PropTiger

Ø  Chief technology officers of Reliance Jio, Bharti Airtel quit

Ø  HDFC Bank Q1 profit rises 18% at Rs4,601 crore

Financial Express



Financial Chronicle

Ø  Federal Bank gets RBI nod to enter Bahrain, Kuwait, Spore

Ø  Corporation Bank to raise Rs 2,555 crore by issuing shares to government

Ø  Rupee on free fall: INR plunge to continue on strong dollar; may hit 70.3 by September, says Morgan Stanley

Ø  JPMorgan says record-breaking US bull market could run until 2020



Ø  Textile industry worried by rising investment flow into Ethiopia

Ø  Thermal coal imports up 19% in first quarter

Ø  CEA does not feel strongly for project Sashakt to tackle NPAs

Ø  Finished steel export falls 33% in April-June

Ø  ICICI Lombard 1st pvt insurer to beat UII in business growth