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FIFA Under 17 World Cup: India knocked-out after losing 4-0 to Ghana

This blog will keep track of key global and local developments impacting business and markets through the day. Important local and global political developments will also find resonance here.

October 12, 2017 / 10:10 pm IST

22:02 FIFA Under 17 World Cup: India knocked-out after losing 4-0 to Ghana

Ghana defeated India 4-0 in their final group stage match in the FIFA Under 17 World Cup in Delhi. Owing to the loss, the Indian under 17 team was knocked-out of the World Cup.

India's dream of making it through to the Round of 16 was dealt with a serious blow in the 51st minute when Eric Ayiah, unmarked, scored his second goal of the night.

Ghana, Colombia and USA have qualified for the Round of 16. Ghana top Group A. Colombia finish second ahead of the USA, courtesy the 3-1 head to head record they maintain. Both, Colombia and USA finish with equal number of points, goals scored and goal difference.

21:38 President Donald Trump signed a new executive order that will reduce the costs and the coverage that comes with Obamacare, as stated in a CNBC report.

According to the report, this will include loosening the rules of health plans of small businesses and the bringing out short-term health insurance plans.

21:03 FIFA Under 17 World Cup: Ghana lead India by 1-0 at Half Time

Eric Ayiah scored in the 43rd minute to put Ghana in the driver's seat. The goal brought India's resolute defence to an end. Ibrahim made a run into the byline, only for the ball to be gloved away by India goalkeeper Dheeraj.

However, Ayiah made no mistake in punching the ball into the goal.

Ghana made 12 attempts and had 4 shots on target as compared to India's 3 attempts with no shots on target.
Ghana also had 3 off-sides in the 45 minutes of play. Both sides have received one yellow card each.

20:35 US withdraws from UNESCO over 'anti-Israel bias'

The United States announced it will withdraw from the UNESCO, accusing the UN's cultural body of "anti-Israel" stance.

The withdrawal will take effect on December 31, 2018. The US will remain a full member of UNESCO until that time.

"This decision was not taken lightly and reflects US concerns with mounting arrears at UNESCO, the need for fundamental reform in the organisation, and continuing anti- Israel bias at UNESCO," State Department Spokesperson Heather Nauert said.

20:14 MP bans high-decibel firecrackers this Diwali

The Madhya Pradesh state government today banned the manufacture, sale and the use of crackers which generate a high-decibel sound with immediate effect.

"In view of a notification issued by the Union Ministry for the Environment and Forest, the manufacturing, sale or use of crackers which generate noise levels exceeding 125 dB(AI) or 145 dB(C) will be banned," state environment minister Antar Singh Arya said in a statement.

20:09 Arvind Kejriwal's iconic blue Wagon R stolen from Delhi Secretariat 

Delhi Chief Minister Arvind Kejriwal's iconic blue Wagon R was on Thursday stolen from right outside Delhi Secretariat in the National Capital Region (NCR).

Popularly known as the 'AAP Mobile', it is the same car Kejriwal camped and slept in, during his protest against Delhi police in 2014. The chief minister was also photographed sleeping next to the car during the protest.

20:03 Bitcoin rockets above $5,000 to all-time high

Bitcoin smashed through the USD 5,000 barrier for the first time on Thursday, jumping as much as 8 percent on the day as investors shrugged off the latest warnings on the risks of buying into the booming cryptocurrency market.

Upcoming splits in its software, reports that Goldman Sachs is considering offering bitcoin trading, rumors that China could ease restrictions, and even a political crisis in Spain's Catalonia region were all cited by market-watchers as reasons for the rally, as reported by Reuters.

19:45 US jobless claims fall to more than one-month low

The number of Americans filing for unemployment benefits fell to more than a one-month low last week as claims in Texas and Florida continued to decline after being boosted by Hurricanes Harvey and Irma.

Initial claims for state unemployment benefits decreased 15,000 to a seasonally adjusted 243,000 for the week ended Oct. 7, the lowest level since late August, the Labor Department said on Thursday. Data for the prior week were revised to show 2,000 fewer applications received than previously reported.

A Labor Department official said Harvey and Irma along with Hurricane Maria affected claims for Texas, Florida, South Carolina, Puerto Rico and the Virgin Islands. In addition, claims for Virginia were estimated.

19:27 IndusInd Bank delivered another quarter of predictable high-quality earnings giving investors another reason to cheer at the beginning of the earnings season. A strong growth in low-cost deposits drove margin stability despite the bank stepping up its presence in the competitive corporate lending business. Its asset quality showed no signs of stress and fee income growth was decent. While the bank awaits meaningful recovery in the retail business in the second half of the fiscal, it is also gearing up to acquire Bharat Financial, which the management feels would be margin accretive from day one.

Read full story here.

18:44 India needs to reply to defence evidence in Mallya extradition

India needs to reply to the defence evidence of embattled tycoon Vijay Mallya before November 3 in a UK court, the external affairs ministry said today, reports PTI.

Giving details of the case before the Westminster Magistrates' Court in the UK, ministry spokesperson Raveesh Kumar said the extradition request in respect of Mallya, accused of many financial defaults, was handed over to the UK High Commission here on February 9.

Mallya was arrested and produced before the Westminster Magistrates' Court in London on April 18 for extradition hearing and granted conditional bail, he said.

17:35 India’s industrial output grew 4.3 percent in August as compared with a tepid growth of 1.2 percent in July, as the companies began restocking and building fresh inventories after clearing up the stockpile in the previous month ahead of GST’s roll out from July 1.

Factory output measured by the index of industrial production (IIP) is the closest approximation for measuring economic activity in the country’s business landscape.

17:33 India’s retail inflation continued to grow at 3.28 percent in September, mainly due an increase in commodity and fuel prices.

Retail inflation, measured by Consumer Price Index (CPI) witnessed 3.36 percent growth in August, while rising at 3.28 percent in September at year ago. It is the main price gauge that the Reserve Bank of India (RBI) tracks.

16:40  BREAKING | TCS' second quarter earnings have beaten analysts' expectations with profit rising 8.4 percent sequentially to Rs 6,446 crore from Rs 5,945 crore. Revenue stood at Rs 30,541 crore for the quarter.

EBIT margin expanded to 25.1 percent from 23 percent on sequential basis.

16:35 CEC says polling in Gujarat state should be over before December 18 to prevent Himachal Pradesh election result affect voting pattern in Gujarat election. This will enable simultaneous counting in Himachal Pradesh and Gujarat. The commission will shortly announce dates for Gujarat assembly election, he adds.

16.30 Himachal Pradesh assembly elections will be held on November 9 and counting of votes to be on December 18. That's the word from the Election Commission. The panel hasn't set a date for Gujarat assembly elections.

16:25 The EC will have VVPATs along with EVMs. The height of voting compartments will be increased to 30 inches. There is also a 5.6-cm increase in the size of screen on VVPAT machines for the voters to able to verify their vote easily, says Chief Election Commissioner Achal Kumar Jyoti.

16:20 Back to the Election Commission press conference now, the body has said that poll code of conduct in Himachal Pradesh comes in to effect immediately.

16:15 The transaction will also provide Bharti Airtel the right to use Tata Tele’s existing fibre network. Click here for full story.

16:10 Bharti Airtel will assume a small portion of the unpaid spectrum liability of Tata. The deal will bolster Airtel’s spectrum pool with additional spectrum in the 1,800, 2,100 and 850 MHz bands, all widely used for 4G.

16:05 Tata Tele to merge consumer mobile biz with Bharti Airtel

Tata Teleservices and Tata Teleservices (Maharashtra) will merge their consumer mobile business with Bharti Airtel. As part of the Agreement, Bharti Airtel will absorb Tata CMB’s operations across the country in 19 circles (17 under TTSL and 2 under TTML).

As per a notification to the exchanges, over 40 million customers will join the Bharti Airtel stable. The merger will be on a debt-free, cash-free basis, with all past liabilities and dues to be settled by Tata.

16:03 The Election Commission has is announcing the poll dates for Himachal Pradesh and Gujarat elections.

16:00 Royal Enfield has forayed into Vietnam — the world's fourth-largest two-wheeler market, reports PTI. The company will sell three of its popular models — Bullet 500, Classic 500 and the Continental GT 535 cc — through its first flagship store in Ho Chi Minh City.

Vietnam has a large young population who commute on two-wheelers and is now aspiring to adopt the right medium of self-expression and exploration, Royal Enfield President Rudratej (Rudy) Singh said. "We hope to fuel the culture of exploration and leisure motorcycling with some of our best motorcycles in Vietnam," he said.

Royal Enfield, part of Eicher Motors, is focusing on south-east Asian countries as part of its strategy to expand the mid-sized motorcycle segment (250-750cc) across the globe. The company already has presence in Indonesia through two exclusive stores in Jakarta and Bali and also has the first exclusive gear store outside India in Jakarta.

15:58 FMCG firm Bajaj Corp reported a 13% decline in standalone net profit at Rs 50.71 crore for the second quarter ended September 30 on account of higher expenses. The company had posted a net profit of Rs 58.29 crore during the same period of the previous fiscal. Net sales during the period under review grew 3.73% to Rs 204.12 crore as against Rs 196.77 crore in the year ago period. Bajaj Corp has several products in the hair care segment such as Bajaj Almond Drops, Bajaj Kailash Parbat and Bajaj Brahmi Amla.

15:55 German insurer Allianz has partnered with Indian conglomerate Shapoorji Pallonji Group to set up a $500 million real-estate fund aimed at the office market in India, reports Reuters. Allianz will own 50% of the rupee-denominated closed-ended fund, SPREF II, while long-term institutional investors will hold the rest.

The deal forms part of Allianz’s plan to allocate about 5% of its global real-estate portfolio to the Asia-Pacific region, Allianz said. The venture, which will be supported locally by Shapoorji Pallonji Investment Advisors team, aims at building long-term, cash flow producing office portfolio by buying a mix of assets in Mumbai, Bengaluru, Hyderabad, Pune, Chennai and Delhi.

15:25 Nielsen has announced a strategic partnership with retail technology platform SnapBizz, that will enable development of new products and services for manufacturers in the fast-moving consumer goods (FMCG) industry, reports PTI. This will be based on point-of-sale (PoS) transactional data in the traditional trade environment. This also marks Nielsen India's foray into building a partnership ecosystem that will focus on providing newer shopper and store insights for the dynamic and transformative, though largely traditional, retail environment in the country.

15:22 The Delhi High Court set aside the disciplinary action taken by JNU against 15 of its students, including ex-JNUSU President Kanhaiya Kumar, in connection with a controversial event on February 9 last year in the varsity, reports PTI. Justice V K Rao remanded the issue back to the Jawaharlal Nehru University (JNU) to be decided afresh after allowing the students to inspect the records and hearing them. The court told JNU's appellate authority to pass a reasoned order within six weeks of hearing the students, who also included Umar Khalid and Anirban Bhattacharya, that the varsity did not give them due opportunity to defend themselves against the charge of indiscipline.

15:19 Prakash Industries said it has secured an additional coal linkage of 2.1 lakh tonne per annum (LTPA) for a period of five years. The fuel supply agreement will be signed in the coming weeks and the supplies will commence from next month.

15:03 The Allahabad High Court has found the Talwars not guilty of murder in the Aarushi murder case. It has acquitted Rajesh and Nupur Talwar in the Aarushi-Hemraj murder case. For more updates, click here

14:51 Private sector lender IndusInd Bank posted 25% increase in net profit to Rs 880.10 crore for the second quarter ended September 30. The bank had a net profit of Rs 704.26 crore in the July-September quarter of the last fiscal. The total income of the lender also increased to Rs 5,395.92 crore during the quarter under review, as against Rs 4,439.72 crore in the corresponding period of 2016-17.

The gross non-performing assets (NPAs) of the bank rose to 1.08% of the total advances, from 0.9% at the end of the second quarter of the previous fiscal. Similarly, net NPAs rose to 0.44% from 0.37% in same quarter a year ago. Consequently, the bank made higher provisioning of Rs 294 crore as compared to Rs 214 crore in the year-ago quarter.

14:45 Euro zone industrial output rose by far more than expected and at its highest rate in nine months in August as production of capital goods, such as machinery, rose sharply, boding well for economic growth in the second half of the year, reports Reuters. Overall output rose 1.4% in August month-on-month and by 3.8% year-on-year, the European Union statistics office Eurostat said. There was also an upward revision of the July data, to 0.3% from 0.1% in the month and to 3.6% year-on-year from the 3.2% initially estimated.

14:41 Paris authorities plan to banish all petrol- and diesel-fuelled cars from the world’s most visited city by 2030, reports Reuters. The move marks an acceleration in plans to wean the country off gas-guzzlers and switch to electric vehicles in a city often obliged to impose temporary bans due to surges in particle pollution in the air. Paris City Hall said in a statement that France had already set a target date of 2040 for an end to cars dependent on fossil fuels and that this required speedier phase-outs in large cities.

14:34 Bitcoin has hit a fresh all-time high on Thursday, passing above the $5,000 mark for the first time in its history in early morning European trade. The cryptocurrency is trading up over 6.5% at $5,136. Bitcoin has seen its value increase by more than $750 per coin in the last week alone, with a rally that coincides with renewed interest in the currency from investment banks.

13:47 China’s vehicles sales rose in September for a fourth straight month, an industry body said on Thursday, but added that the market may struggle to hit a forecast for 5% annual growth set earlier in the year, reports Reuters. The world’s largest auto market may not hit growth levels estimated by the China Association of Automobile Manufacturers in January, “but 4% and above should be pretty much a sure thing”, said Shi Jianhua, CAAM’s deputy secretary general. Vehicle sales in China have rebounded since June, but CAAM’s caution on full-year growth underlines challenges in the market, which saw a slow start to the year due to tax incentives on smaller-engined cars being phased out.

13:34 European shares traded sideways in early deals on Thursday despite new highs in Asia and on Wall Street, with financial shares being the biggest burden and Just Eat the top performer after its merger with Hungryhouse got provisional clearance. The pan-European STOXX 600 index was up 0.01% in early deals with no clear direction across the continent. France’s CAC 40 and Spain’s IBEX were down 0.1% while Frankfurt’s DAX and the FTSE 100 were very slightly up.

13:05 Indian Army orders withdrawal of troops from Doklam, reports CNN-News18. Troop withdrawal began from today morning.

13:02 Alphabet’s Waymo sought at least $1 billion in damages and a public apology from Uber Technologies as conditions for settling its high-profile trade secret lawsuit against the ride-services company, reports Reuters. The Waymo self-driving car unit also asked that an independent monitor be appointed to ensure Uber does not use Waymo technology in the future. Uber rejected those terms as non-starters. The precise dollar amount requested by Waymo and the exact time the offer was made could not be learned.

12:55 In a bonanza for its employees, the Sikkim government has declared 43 days' public holidays, including four restricted ones, during 2018, reports PTI. An official notification issued said there will be 43 days' public holidays during 2018 and an additional four days of restricted holidays, but the state government employees can avail only one of these restricted holidays. The number of public holidays in 2017 is 37.

12:37 Leaving the European Union without a trade deal won’t be cheap, reports Bloomberg. According to analysis by Rabobank, a so-called hard Brexit would cost about GBP 11,500 ($15,000) per British worker by 2030, the equivalent of 18% of GDP growth. Ministers this week detailed some contingency plans for leaving the bloc with no deal in place, suggesting they’re considering it as a distinct possibility. Barriers to trade, lower investment, a loss of financial services and lower immigration would all weigh on growth.

12:26 Deposed AIADMK leader VK Sasikala left for Bengaluru by road to report at the Parappana Agrahara Prison as her parole for visiting her husband in a hospital here ended on Wednesday, reports PTI. Sasikala left from the residence of Krishna Priya, her close relative in T Nagar here on Thursday. She had visited her husband M Natarajan, who underwent liver and kidney transplantation at the hospital, on all five days of her parole period.

12:00 In a letter written to SEBI Chairman Ajay Tyagi, BJP MP Subramanian Swamy has accused the market regulator of turning a blind eye to insider trading at Tata Group companies and relied on 'denial of wrong-doing by interested parties'. Swamy goes on to add that SEBI has given a clean chit to some Tata enterprises without investigating charges which were eight months old, reports the Hindu Business Line.

11:50 The Election Commission will announce the Assembly election dates for Gujarat and Himachal Pradesh at 4pm today.

11:19 The Mumbai Police's Economic Offence Wing (EOW) has cracked down on ATC Coin, the purported founder of cryptocurrency ATC Coin, and has registered a case against it for illegally collecting Rs 85 crore in five months. Sources have told Moneycontrol the police is looking for Subhashchand Jewria for questioning, the founder and sole director of ATC Coin, for illegally diverting money raised from investors into his personal accounts and buying property with it. So far, the police have not been able to trace him. A case has been registered under the Maharashtra Protection of Interest of Depositors Act against Jewria and ATC Coin.

11:16 Kobe Steel’s fake data scandal may cast a cloud on Prime Minister Narendra Modi’s bullet train project. The company supplied Japan’s iconic bullet trains with sub-standard parts, reports Bloomberg. While they don’t pose any safety risks, aluminum components connecting wheels to train cars failed Japanese industry standards, according to Central Japan Railway Co, which operates the high-speed trains between Tokyo and Osaka. West Japan Railway Co, which runs services from Osaka to Fukuoka, also found sub-standard parts made by Kobe Steel.

11:08 India needs overseas help to raise production from its aging oil fields and meet its goal of lowering crude imports by 2022, according to consultant Wood Mackenzie. The country’s exploration companies such as Oil and Natural Gas Corporation and Oil India should consider partnering with overseas counterparts to boost oil recovery from their mature assets in the short-term in order to reach Prime Minister Narendra Modi’s goal of cutting imports by 10% in five years, Neal Anderson, president of Wood Mackenzie, told Bloomberg. Seeking to raise output through only new discoveries will take too long, he said. “Opening up exploration has such a long lead time,” Anderson said. “And it will not meet the five-year timeline.”

10:59 LIC Housing Finance files insolvency proceedings against DB Realty in National Company Law Tribunal (NCLT), reports CNBC-TV18.

10:54 The Mahindra Group is pitching for greater workforce diversity as it feels that the industry numbers are skewed towards gender and there is a need to focus on the specially abled, the socially disadvantaged and LGBT, reports PTI. The $19-billion group, which is present in more than 100 countries and operates in as many as 11 sectors, believes that the workforce and the marketplace will become more diverse due to globalisation of corporations.

10:48 The Allahabad High Court on Thursday is likely to decide the fate of dentist couple Rajesh and Nupur Talwar, serving a life term for murdering their daughter, Aarushi, and domestic help Hemraj in 2008, reports CNN-News18. On the night of May 15-16, 2008, Aarushi, barely eight days short of her 14th birthday, was found dead in her bedroom with her throat slit in Noida's Jalvayu Vihar. The main suspect was Hemraj, who was missing early morning. In a sensational twist, his body was recovered from the terrace of the house two days later. A division bench of the high court, comprising justices BK Narayana and AK Mishra, had reserved its judgement on September 7 on an appeal filed by the dentist couple, fixing October 12 as the date for the verdict.

10:43 Reliance Jio has come up with a 100% cashback offer on the occasion of Diwali. As part of the offer, users with every recharge of Rs 399 will receive 100% cashback. The company has planned a tariff revision from October 19, so users recharging in the festive period between October 12 and October 18 will enjoy the current tariff benefits. The 100% cashback of Rs 400 that the customers will receive will be in the form of vouchers of Rs 50 denomination. The vouchers can then be redeemed one at a time against future Jio recharges of Rs 309 and above plans and against Rs 91 and above data add-ons.

10:25 Chief Minister Yogi Adityanath led Uttar Pradesh government has been painting booklets, school bags and even buses to saffron, reports The Indian Express. It all started when a saffron towel was put on Adityanath’s chair at his official residence and his car seat. Since then, saffron spread on to government booklets, school bags and even buses. On Wednesday, Adityanath flagged off 500 saffron colour buses of the State Road Transport Corporation, named ‘Sankalp Seva’. These buses are aimed to provide services in the rural areas. That is not all, even the stage was decorated with saffron curtains and the buses adorned with balloons.

10:17 A technical snag on the Dow Jones financial newswire caused it to say that Google had bought Apple for a price of $9 billion. The bombshell dropped between 9:34 am ET and 9:36 am ET and became viral within minutes, propelling Apple’s stocks by from $2 to $158 per share.

10:11 The Brihanmumbai Municipal Corporation (BMC), country's richest civic body, on Wednesday announced a Diwali bonus to its employees, ranging from Rs 2,250 to Rs 14,500, reports PTI. This year's maximum bonus amount is Rs 500 more than the last year's, which was Rs 14,000. The bonus will put additional burden of Rs 160.30 crore on the corporation.

09:53 The Hindalco stock is up close to 3.5% after 10.1 lakh shares traded in a block on the NSE at Rs 251.50 per share.

09:51 Finance Minister Arun Jaitley said the Centre is working on a plan to rebuild the capacity of the banking sector so that it could support growth, reports PTI. He stated that reforming the banking system is the top agenda of the government. "I inherited a banking system whose monies were lying in non-performing assets...are unable to service the debt. We are faced with a catch-22 situation as to how do we improve the capacity of the banks so that they can support growth," he said.

09:09 Japanese wholesale prices rose in September at the fastest annual pace in almost nine years due to rising prices for gasoline, metals, and agricultural products, but the gains won’t necessarily boost the country’s notoriously weak inflation, reports Reuters. Economists expect consumer prices to rise only gradually because many Japanese companies prefer to absorb higher input costs rather than increasing prices, making it difficult for the Bank of Japan (BoJ) to reach its 2% inflation target.

09:08 China will "compel" Saudi Arabia to trade oil in yuan and, when this happens, the rest of the oil market will follow suit and abandon the dollar as the world's reserve currency, a leading economist told CNBC on Monday. Carl Weinberg, Chief Economist and Managing Director at High Frequency Economics, said Beijing stands to become the most dominant global player in oil demand since China usurped the US as the "biggest oil importer on the planet."

09:01 Identifying real estate as the one sector where maximum amount of tax evasion takes place, Finance Minister Arun Jaitley said there was a strong case to bring it under the ambit of the GST, reports PTI. The matter will be discussed in the next meeting of the GST, which will be held on November 9, in Guwahati, he stated. "The one sector in India where maximum amount of tax evasion and cash generation takes place and which is still outside the GST is real estate. Some of the states have been pressing for it. I personally believe that there is a strong case to bring real estate into the GST," Jaitley said.

08:50 US President Donald Trump on Wednesday appeared to confirm he had North Korea in mind last week when he described a gathering of military leaders as “the calm before the storm”. In an interview with US network Fox News, Trump was asked what he meant with the cryptic phrase, which had fuelled concerns the United States and North Korea were closer to war. “We can’t let this to go on. We just can‘t,” Trump said in response to the question, adding that China has been very helpful in the situation. “They cut off banking to North Korea.”

08:41 The CEO of a UK-based wealth management firm has warned that an unruly end to monetary stimulus from global central banks could lead to pensioners and retail customers suffering the biggest financial crisis of their lifetimes, reports CNBC. Brian Raven, group chief executive at Tavistock Investments, believes that bond markets will be the source of the problem and are primed for a sharp reversal.

08:36 To know what to expect in the market watch video here

08:32 Life Insurance Corporation of India (LIC) has put in a major bid for shares of reinsurer General Insurance Corporation of India (GIC Re), in the latter’s ongoing initial public offering (IPO), reports Mint. The GIC Re IPO is looking to raise Rs11,372 crore at the upper end of the price band of Rs855-912 per share. The share sale values the insurance firm at Rs 80,000 crore.

08:22 China has inducted its much-publicised light battle tank, introduced in Tibet during the height of the Doklam standoff with India, and for the first time the Army displayed its photo at a military exhibition here, reports AFP. Developed by the China North Industries Group Corp, the country’s biggest maker of land armaments, the light tank, whose weight ranges from 25 to 35 metric tonne, is equipped with a hydropneumatic suspension system that ensures good manoeuvrability and survivability in mountainous regions. Its main weapon is a 105-mm gun that is able to fire both shells and guided missiles, according to weapons experts, who said the tank’s main task is to fight on plateaus even at very low temperatures.

08:18 Jet Airways said it had agreed to buy 75 Boeing 737 Max aircraft, and that it could purchase another 75 to help it expand in a booming Indian market, reports Reuters. Jet said in a statement that deliveries of the single aisle jets are expected to start in mid-2018 and a decision on adding an equal number of narrow-body aircraft “will be made over the coming few months”. An order for 75 737 MAX 10 jets would be worth as much as $9.3 billion based on list prices, although airlines typically get discounts for large orders.

08:16 Bharti Airtel, India’s top telecom operator, said it had partnered with handset maker Karbonn Mobiles to introduce a 4G-enabled smartphone at the price of a feature phone, reports Reuters. The company said the price for the smartphone would be cut by about 60% to Rs 1,399 and will include a monthly pack of Rs 169 from the telecom operator.

08:13 India will work with Japan to make long-term liquefied natural gas (LNG) import deals more affordable for its price-sensitive consumers, as these two big importers try to secure better prices and concessions from suppliers. The arrangement will help state-run GAIL India swap a part of its 5.8 million tonne of LNG booked with firms from the United States with that of Japan’s contracted volumes in Asia and elsewhere, Sunjay Sudhir, joint secretary for international cooperation in the Oil Ministry, told Reuters.

08:10 Three leading Indian cotton seed makers have settled an intellectual property dispute with Monsanto Co over its genetically modified (GM) seed technology, partly ending a legal tussle that has drawn in the Indian and US governments, reports Reuters. Ajeet Seeds, Kaveri Seed Co and Ankur Seeds were among six Indian companies that delayed payments to Monsanto, demanding a cut in royalties they paid to the US firm to licence its technology.

08:05 The Union Cabinet on Wednesday cleared revised pay scales for nearly eight lakh teachers and academic staff of higher educational institutions following the implementation of the Seventh Pay Commission. The decision will benefit 7.58 lakh teachers and equivalent academic staff in the 106 universities and colleges which are funded by the UGC and the union HRD Ministry and also 329 universities which are funded by state governments and 12,912 government and private aided colleges affiliated to state public universities.

08:01 India's second-largest drugmaker Lupin, which has agreed to buy US-based Symbiomix Therapeutics for $150 million, said it expects "significant" cash flows from the deal in the next three years. The acquisition gives Lupin control over Symbiomix’s lead product, Solosec oral granules, for the treatment of bacterial vaginosis in adult women. In September this year, the US Food & Drug Administration approved the drug for marketing with a 10-year exclusivity.

07:58 Sun Pharmaceutical Industries, India’s largest drug maker, has received an establishment inspection report (EIR) from the US Food & Drug Administration (USFDA) for the company's Dadra formulation facility. EIR indicates closure of plant inspection by the US regulatory agency.

07:46 Tata Consultancy Services, the country's largest software services provider, will announce its July-September quarter earnings on October 12 after market hours. Profit after tax for the quarter is expected to increase 4% sequentially to Rs 6,183 crore and revenue may grow 2.6% to Rs 30,356 crore, according to an average of estimates of analysts polled by CNBC-TV18. Revenues in dollar terms are likely to register a 3% at $4,731 million in the quarter ended September 2017, compared with $4,591 million in the previous quarter. Here's what to expect

07:44 The government's direct tax collections have seen a growth of nearly 16% in the first half of this financial year. This growth rate is bang in line with the budget estimate of 15.7% and is also faster than the growth rate clocked in the April to August period. However, gross collections, which is without refunds to taxpayers, stands at just over 10%. This also points to the fact that there hasn't been any major dividend from demonetisation and the Centre's coffers remain stretched due to low RBI dividend and weaker spectrum receipts.

07:40 The newly appointed Economic Advisory Council to the Prime Minister met for the first time on Wednesday. During the meeting, the five member panel picked 10 key issues that it will initially work upon. These issues include economic growth, employment and monetary policy. The fiscal framework, agriculture and social sector schemes will also be on PMEAC's initial agenda. Addressing the media after the meeting, the head of the council, Bibek Debroy said there was a consensus among the members of the council on the reasons for the slowdown in India's growth.

07:35 British house prices face the weakest outlook since last year’s Brexit vote, largely reflecting the prospect of further falls in central London, the Royal Institution of Chartered Surveyors said on Thursday. RICS’s benchmark house price index held steady at +6 in September, slightly better than forecast in a Reuters poll of economists, but the property industry body said prospects for future prices had declined.

07:34 Spanish Prime Minister Mariano Rajoy on Wednesday gave the Catalan government eight days to drop an independence bid, failing which he would suspend the Catalonia’s political autonomy and rule the region directly, reports Reuters. His move could deepen the confrontation between Madrid and the northeastern region but also signals a way out of Spain’s biggest political crisis since a failed military coup in 1981. Rajoy would probably call a snap regional election after activating Article 155 of the constitution that would allow him to sack the Catalan regional government.

07:31 European stocks closed flat as investors continued to monitor ongoing political uncertainty, the euro surged as Catalonian crises saw some relief. Spain's IBEX rallied as worries eased a bit about Catalonia's push for independence.

07:27 A longer extension of the European Central Bank’s asset purchase program may be more beneficial when markets are calm, ECB Chief Economist Peter Praet said, just weeks before the ECB is due to decide whether to extend stimulus, reports Reuters. “In more normal market conditions... investors may become ‘more patient’, or, in other words, better able to evaluate the stimulus that can be expected to come from a purchase plan that is to be executed over a more extended time interval,” Praet said in a speech that closely resembled his latest comments.

07:22 Federal Reserve policymakers had a prolonged debate about the prospects of a pickup in inflation and slowing the path of future interest rate rises if it did not, according to minutes of the US central bank’s last policy meeting on September 19-20 released on Wednesday. The readout of the meeting, at which the Fed announced it would begin this month to reduce its large bond portfolio mostly amassed following the financial crisis and unanimously voted to hold rates steady, also showed that officials remained mostly sanguine about the economic impact of recent hurricanes, reports Reuters.

07:20 Gold prices were up slightly on Thursday, extending gains from the previous session amid a muted dollar after minutes from the US Federal Reserve’s September policy meeting revealed low inflation concerns.

07:19 Oil prices eased on Thursday as US fuel inventories rose despite efforts by OPEC to cut production and tighten the market.

07:18 Major stock indexes edged up to post record closing highs on Wednesday with sector moves in the S&P 500 showing preference toward so-called defensive stocks. The Dow Jones Industrial Average rose 42.21 points, or 0.18%, to end at 22,872.89, the S&P 500 gained 4.6 points, or 0.18%, to 2,555.24 and the Nasdaq Composite added 16.30 points, or 0.25%, to 6,603.55.

07:10 Asian stocks were near a decade high on Thursday, riding the bull run in global equity markets, while the dollar sagged after the Federal Reserve showed a guarded view towards inflation. Japan's Nikkei was up 0.4% after brushing 20,980.92, its highest since December 1996. South Korea's KOSPI added 0.1% to mark a fresh record high. The SGX Nifty is trading 29 points higher.

  • FIFA Under 17 World Cup: India knocked-out after losing 4-0 to Ghana
    Moneycontrol.com
  • 1.Tata Tele to merge consumer mobile business with Bharti Airtel

    2. TCS Q2 earnings beat estimates, profit rises 8.4% to Rs 6,446 cr

    3.Retail inflation steady at 3.28% in Sept, IIP grows at 4.3% in Aug

    4. Himachal to go to polls on Nov 9, Gujarat before Dec 18

    5. Asked to explain 'calm before the storm' remark, Trump talks North Korea, reports Reuters

    6. Fed divide on inflation intensified at September policy meeting, reports Reuters

    7. FM says GST Council to discuss bringing real estate under its ambit, reports PTI

  • Ghana defeated India 4-0 in their final group stage match in the FIFA Under 17 World Cup in Delhi. Owing to the loss, the Indian under 17 team was knocked-out of the World Cup.

    India's dream of making it through to the Round of 16 was dealt with a serious blow in the 51st minute when Eric Ayiah, unmarked, scored his second goal of the night.

    Ghana pounded two more goals in the 85th minute to virtually seat their Round of 16 berths. Danso ran clear of India's defence and pushed the ball easily past Dheeraj. Moments later, Toku scored off a rebound after Sulley's attempt got back after hitting the woodwork.

  • President Donald Trump signed a new executive order that will reduce the costs and the coverage that comes with Obamacare, as stated in a CNBC report.

    According to the report, this will include loosening the rules of health plans of small businesses and the bringing out short-term health insurance plans.

  • EricAyiahscored in the43rdminute to put Ghana in the driver's seat. The goal brought India's resolutedefence. Ibrahim made a run into the byline, only for the ball to be gloved away by Indian goalkeeperDheeraj. However,Ayiahmade no mistake in punching the ball into the goal.
    Ghana made 12 attempts and had 4 shots on target as compared to India's 3 attempts with no shots on target.
    Ghana also had 3 off-sides in the 45 minutes of play. Both sides have received one yellow card each.

  • The United States announced it will withdraw from the UNESCO, accusing the UN's cultural body of "anti-Israel" stance.

    The withdrawal will take effect on December 31, 2018. The US will remain a full member of UNESCO until that time.

    "This decision was not taken lightlyand reflects US concerns with mounting arrears at UNESCO, the need for fundamental reform in theorganisation,and continuing anti- Israel bias at UNESCO," State Department Spokesperson Heather Nauert said.



  • The Madhya Pradesh state government today banned the manufacture, sale and the use of crackers which generate high-decibel sound with immediate effect.

    "In view of a notification issued by the Union Ministry forthe Environment and Forest, the manufacturing, sale or use of crackers which generate noise levels exceeding 125 dB(AI) or 145 dB(C) will be banned," state environment minister Antar Singh Arya said in a statement.

  • Delhi Chief Minister Arvind Kejriwal's iconic blue Wagon R was on Thursday stolen from right outside Delhi Secretariat in the National Capital Region (NCR).

    Popularly known as the 'AAP Mobile', it is the same car Kejriwal camped and slept in, during his protest against Delhi police in 2014. The chief minister was also photographed sleeping next to the car during the protest.

  • Bitcoin smashed through the USD 5,000 barrier for the first time on Thursday, jumping as much as 8 percent on the day as investors shrugged off the latest warnings on the risks of buying into the booming cryptocurrency market.

    Upcoming splits in its software, reports that Goldman Sachs is considering offering bitcoin trading, rumors that China could ease restrictions, and even a political crisis in Spain's Catalonia region were all cited by market-watchers as reasons for the rally, as reported by Reuters.


  • The number of Americans filing for unemployment benefits fell to more than a one-month low last week as claims in Texas and Florida continued to decline after being boosted by Hurricanes Harvey and Irma.

    Initial claims for state unemployment benefits decreased 15,000 to a seasonally adjusted 243,000 for the week ended Oct. 7, the lowest level since late August, the Labor Department said on Thursday. Data for the prior week were revised to show 2,000 fewer applications received than previously reported.

    A Labor Department official said Harvey and Irma along with Hurricane Maria affected claims for Texas, Florida, South Carolina, Puerto Rico and the Virgin Islands. In addition, claims for Virginia were estimated.

  • IndusInd Bankdelivered another quarter of predictable high quality earnings giving investors another reason to cheer at the beginning of the earnings season. A strong growth in low-cost deposits drove margin stability despite the bank stepping up its presence in the competitive corporate lending business. Its asset quality showed no signs of stress and fee income growth was decent. While the bank awaits meaningful recovery in the retail business in the second half of the fiscal, it is also gearing up to acquireBharat Financial, which the management feels would be margin accretive from day one.

    Read full storyhere.

  • India needs to reply to the defence evidence of embattled tycoon Vijay Mallya before November 3 in a UK court, the external affairs ministry said today, reports PTI.

    Giving details of the case before the Westminster Magistrates' Court in the UK, ministry spokesperson Raveesh Kumar said the extradition request in respect of Mallya, accused of many financial defaults, was handed over to the UK High Commission here on February 9.

    Mallya was arrested and produced before the Westminster Magistrates' Court in London on April 18 for extradition hearing and granted conditional bail, he said.

  • India’s industrial output grew 4.3 percent in August as compared with a tepid growth of 1.2 percent in July, as the companies began restocking and building fresh inventories after clearing up the stockpile in the previous month ahead of GST’s roll out from July 1.

    Factory output measured by the index of industrial production (IIP) is the closest approximation for measuring economic activity in the country’s business landscape.

  • India’s retail inflation continued to grow at3.28 percent in September, mainly due an increase in commodity and fuel prices.

    Retail inflation, measured by Consumer Price Index (CPI) witnessed 3.36 percent growth in August, while rising at3.28 percent in September at year ago. It is the main price gauge that the Reserve Bank of India (RBI) tracks.

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