|
|
|
|
|
Don’t sensationalise findings: FM to CAG
Faulty brakes: Audi recalls 382 SUV Q7
Consumer confidence dropped in Q3: Nielsen |
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
SEBI notifies ESOP norms
India ranks142 in WB ‘Doing Business’ report
Tribunal to hear DLF plea against SEBI order today
|
|
Don’t sensationalise findings: FM to CAG
New Delhi, October 29 “The auditor should be conscious of the fact that he is reviewing a decision that has already been taken. Have the fair procedures been followed? He doesn't have to sensationalise. He doesn't have to get into the headlines," Jaitley said at the annual conference of the CAG. He said an auditor has to be active, but activism and restraint are always the two sides of the same coin. The CAG reports on the 2G telecom spectrum allocation and the coal mine allotment which carried figures of notional losses to the tune of Rs 1.76 lakh crore and Rs 1.84 lakh crore, respectively, had troubled the UPA government. “He (auditor) has to scrutinise thoroughly the decision making process. He has to necessarily eliminate the possibility of any form of nepotism,” Jaitley said. On Monday, Parliament's Public Accounts Committee chairman KV Thomas too said at the conference that the auditor should restrict audits to financial impropriety and not come out with “astronomical” figures of notional losses. India can grow at 8-9%
India has the capacity to grow at 8-9% and good governance would make economic expansion “more exuberant”, Jaitley said. “I have always wondered to myself that in the last two years with average to moderate governance (growth was sub-5%). India has a capacity to grow by 8-9%. If we had followed the best practices and displayed the highest standards of good governance, probably our (levels) of growth would have been more exuberant,” he said at the CAG conference. |
|||||
|
Faulty brakes: Audi recalls 382 SUV Q7
New Delhi, October 29 The Indian arm of the company, which is also recalling 8.5 lakh units of the A4 sedan globally to repair defective air bag, said it was yet to receive details from the parent on its implications on the model in India. On the Q7 recall, Audi India said its dealers would get in touch “with 382 Audi Q7 customers across India and would arrange for an appointment at their workshop for vacuum line replacement.” The process will take half an hour and will be carried out free of charge, it said. Meanwhile, Volkswagen and a Chinese partner are recalling 2,70,000 cars in China to repair a software problem that might prevent air bags from activating properly. Chrysler is also recalling more than 566,000 SUVs and trucks because malfunctioning fuel heaters can cause fires, or a software glitch can disable the electronic stability control. — Agencies
|
|||||
|
Consumer confidence dropped in Q3: Nielsen
New Delhi, October 29 As per a global consumer confidence index study by Nielsen, India retained the top spot with an index score of 126, followed by Indonesia (score of 125) and the Philippines (score of 115). Consumer confidence in India was indexed at 128 in Q2 2014. Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism, respectively. "In India, overall, the confidence index continues to hold near its previous levels with the euphoria around the recently elected government settling down,” Nielsen India region president Piyush Mathur said. “The consumer in India is in the middle of a festive season, and so spending will likely be higher than previous quarters due to gifting and entertaining. Besides traditional offline retailers, e-commerce is gaining traction for the urban affluent shoppers in India and online retailers have been spurring the market with discounts to fuel this movement,” he said. As per the survey, three in five (59%) online respondents polled indicated that this is a good time to buy things they want and need, down by one percentage point from the last quarter. Seventy-six per cent indicated that the state of personal finances was good or excellent in the third quarter 2014, up from 75% in Q2. However, the top concerns among respondents continue to be job security (21%) and the state of the economy (11%). — PTI
Moody’s keeps negative outlook on banks
Mumbai: High leverage in the corporate sector could prevent any meaningful recovery in asset quality at lenders over the next 12-18 months, Moody's Investors Service said, maintaining its "negative" outlook on the Indian banking sector. — Reuters |
|||||
|
Mumbai, October 29 SEBI has allowed companies to have employee stock option programmes where they can buy their own company shares subject to certain conditions. Employee stock options (ESOP) are a practice followed world over and the market regulator has outlined certain safeguards to improve the governance and transparency of the schemes and also address concerns regarding potential market abuse. Generally, in India, some companies count it (shares held by ESOP Trusts) in the promoter category and some companies count it in the public category. Some of the safeguards as outlined by the regulator include, requirement of shareholders’ nod through a special resolution for undertaking secondary market acquisitions; restrictions on the sale of shares by trusts; at least a 6- month holding period for shares acquired from secondary market. — PTI
|
|||||
|
India ranks142 in WB ‘Doing Business’ report
Washington, October 29 The fall in India's ranking from the last year's 140 is mainly because other nations performed much better, World Bank officials said. In the 2014 report, India had 52.78 points and this year it scored 53.97 points. The latest ranking, however, does not take into account a slew of measures taken by the Modi government to make India a business-friendly destination. “We do not want to send the impression that the drop in India's ranking is connected in any way with the current political situation (government)," said Augusto Lopez-Claros, Director, Global Indicators Group, Development Economics of the World Bank Group. “It is absolutely true that the new government of Modi has made it clear that they see the creation of a better investment climate and a more business-friendly environment in India a top priority. However, it is important to remember that the new government did not come into office until the second half of May,” he said. Noting that the cut-off of ease of doing business is May 31st, Lopez said whatever the government would do and whatever is in the pipeline is going to have an impact on these indicators only next year. Singapore with 88.27 points occupies the top position in the ease of doing business followed by New Zealand, Hong Kong, Denmark and South Korea. — PTI India placed seventh in investor protection
India has been ranked seventh in minority investor protection — ahead of developed countries such as the US, Japan, France and Germany. New Zealand has topped the list and is followed by Hong Kong, Singapore, UK and Malaysia, as per a sub-ranking released by the World Bank on Wednesday. |
|||||
|
Tribunal to hear DLF plea against SEBI order today
Mumbai, October 29 Earlier this month, SEBI barred the firm and six others from accessing capital market for three years for “active and deliberate suppression” of material information at the time of its IPO over seven years ago. — PTI |
|||||
ONGC becomes highest ranked Indian energy firm Adani hires Parsons Brinckerhoff for coal project Oriental Bank of Commerce Q2 profit up 16% at ~291 cr
|
|||||
|
| HOME PAGE | |
Punjab | Haryana | Jammu & Kashmir |
Himachal Pradesh | Regional Briefs |
Nation | Opinions | | Business | Sports | World | Letters | Chandigarh | Ludhiana | Delhi | | Calendar | Weather | Archive | Subscribe | E-mail | |
Finance Minister Arun Jaitley today asked the Comptroller and Auditor General (CAG) not to sensationalise its findings to get into headlines.
