The ministry also denied that the report was withheld due to its ‘adverse’ findings (Mint )
Sitharaman said she wants ‘no company to shut their operations. I want everyone to be able to be up and running. I want the economy to flourish. I wish all companies to be able to do their business and flourish’.pti
Sitharaman said she wants ‘no company to shut their operations. I want everyone to be able to be up and running. I want the economy to flourish. I wish all companies to be able to do their business and flourish’.pti

Not in a hurry to recover telecom dues, says FM

  • Govt working on bills seeking to raise insurance cover on bank deposits, says minister
  • The FM dismissed concerns that govt’s spending may get affected due to revenue shortfall

IndiGo has 98 A320 family aircraft (Photo: Ramesh Pathania/Mint)
IndiGo has 98 A320 family aircraft (Photo: Ramesh Pathania/Mint)

IndiGo, GoAir get more time to replace engines

  • Aviation regulator has asked the airlines to replace engines on 36 Airbus A320neo planes by 24 November
  • IndiGo's deadline to replace all engines with modified LPTs remains 31 January, 2020

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An aerial photo shows Boeing 737 MAX aircraft at Boeing facilities at the Grant County International Airport in Moses Lake, Washington. (REUTERS)
An aerial photo shows Boeing 737 MAX aircraft at Boeing facilities at the Grant County International Airport in Moses Lake, Washington. (REUTERS)

For Boeing’s new jetliner boss, job 1 is making amends for Max

  • Stanley Deal spent the Oct. 29 anniversary of the first of two 737 Max crashes with Rusdi Kirana, founder of Indonesia’s Lion Air
  • Stanley Deal, previously known to suppliers for his efforts to handle some of their business in house at Boeing, will see his people skills put to the test

Most FMCG companies in India have been grappling with weak volume growth since the beginning of the year, primarily due to a slump in rural demand. (Pradeep Gaur/Mint)
Most FMCG companies in India have been grappling with weak volume growth since the beginning of the year, primarily due to a slump in rural demand. (Pradeep Gaur/Mint)

FMCG firms pin hopes on govt initiatives for demand revival

  • Despite headwinds from the liquidity crisis, firms expect a recovery in demand within next two quarters
  • the near-term outlook for rural demand is likely to remain challenging, said HUL’s Mehta

Sitharaman said it’s a bit too soon to say whether Asia’s third-largest economy would be able to stick to its fiscal deficit targets. (PTI)
Sitharaman said it’s a bit too soon to say whether Asia’s third-largest economy would be able to stick to its fiscal deficit targets. (PTI)

Finance Minister Nirmala Sitharaman rules out quick recovery for economy

  • Nirmala Sitharaman said it’s a bit too soon to say whether Asia’s third-largest economy would be able to stick to its fiscal deficit targets
  • The government’s asset sales program -- key to plugging a gaping hole in the budget -- is moving ahead comfortably, she said

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Either side could appeal against the panel's latest findings. (Reuters )
Either side could appeal against the panel's latest findings. (Reuters )

WTO rejects most Indian claims against US steel duties

  • India had complained that the United States failed to meet an April 2016 deadline to comply with a WTO decision
  • India's complaint alleging US non-compliance listed 14 areas where it said the United States was in breach of the international trade rules

The airline had negative net worth for long, and had run a loss of more than  ₹13,000 crore over the past few years.
The airline had negative net worth for long, and had run a loss of more than 13,000 crore over the past few years.

Synergy Group seeks time till December for Jet Airways bid

  • The airline’s assets will likely be liquidated if Synergy fails to draw up a resolution plan
  • Synergy Group had time till 15 November to submit its bid for the grounded airline

Long Reads
ArcelorMittal has started the process of putting together a team and finalizing office space to set up its India operations.reuters
Photo: Mint
Plain Facts
Replica of the proposed Ram Mandir on display at Karsewakpuram, in Ayodhya, Monday. (Photo: PTI)

How Ram Mandir resonates today

3 min read . 13 Nov 2019
Not withdrawal from RCEP, but protectionism in India can end up hurting industry and consumers in the long run (Photo: Mint)

Protectionism should worry India

4 min read . 12 Nov 2019
Not every child entitled to mid-day meals gets it. A survey shows  82% children in govt schools received mid-day meals (Photo: Mint)

The case for mid-day meals for all

3 min read . 11 Nov 2019
A file photo of Bandra Worli Sea link (Photo: Hindustan Times)

Which is India’s most livable city?

3 min read . 10 Nov 2019
INDICES
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Gainers & Losers
The move is likely to help distressed Dewan Housing Finance to draw up a resolution plan under IBC. (Mint)
During the first seven months of the financial year (April-October), exports have contracted 2.2% while imports shrank 8.4% leading to a trade deficit of $95 billion. (AP)
During the first seven months of the financial year (April-October), exports have contracted 2.2% while imports shrank 8.4% leading to a trade deficit of $95 billion. (AP)

India’s trade deficit narrows to $11 billion in October

  • Some large export items, such as gems and jewellery, chemicals, and pharmaceuticals, grew
  • Escalating trade tensions and a slowing global economy have led WTO to sharply downgrade its forecast for trade growth in 2019 and 2020

The number of ‘smart home’ customers using Alexa in India has grown sixfold in the last 12 months.  (Photo: Bloomberg)
Sumit Sharma, director of the Earth Science and Climate Change division at The Energy and Resources Institute (Teri).
Sumit Sharma, director of the Earth Science and Climate Change division at The Energy and Resources Institute (Teri).

‘The fight against air pollution shouldn’t be just Delhi-centric’

  • Schemes like odd-even are temporary and don’t work so well in the long run, especially when you don’t have an alternative in place
  • We can’t solely pass on the blame of stubble burning onto the farmers. We need to incentivize the process

Former promoters of Ranbaxy, Malvinder Mohan Singh and his brother Shivinder Mohan Singh. (ANI)
Former promoters of Ranbaxy, Malvinder Mohan Singh and his brother Shivinder Mohan Singh. (ANI)

SC holds Singh brothers guilty of contempt

  • Suo motu contempt proceedings were also initiated against Fortis Healthcare for the stake sale
  • A bench comprising Chief Justice Ranjan Gogoi and Justice Deepak Gupta held the former Ranbaxy promoters guilty of contempt of court

The new Perak model will offer double-channel anti-lock braking system
The new Perak model will offer double-channel anti-lock braking system

Classic Legends launch Jawa Perak at 1.94 lakh

  • The Jawa Perak is powered by a 334cc, single-cylinder, liquid-cooled, 30 bhp engine
  • The company has notably revised the existing 293cc, single-cylinder, 27bhp engine that powers the Jawa and the Forty Two models

The tariff of food onboard Rajdhani, Shatabdi and Duronto trains was last revised in 2013. (Mint)
The National Capital’s air quality is not likely to get better anytime soon.  (Pradeep Gaur/Mint)
Mark to Market
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Charlie’s Angels
Raw Mango is organizing a mela (fair), curating other contemporary brands such as Itoh, NorBlack NorWhite, and Pahadi Local, which are inspired by Indian design
Raw Mango is organizing a mela (fair), curating other contemporary brands such as Itoh, NorBlack NorWhite, and Pahadi Local, which are inspired by Indian design

How to Lounge this weekend

  • From a design fair by Raw Mango featuring homegrown brands in Delhi to Tata Lit Live!, the literature festival featuring authors from across the world
  • Treat yourself to some indigenous Indian food at the Isuzu X Food Festival in Mumbai

India announced its intention to acquire S-400 'Triumf' surface-to-air missile systems in 2015. (AP)
Bharti Airtel Ltd too reported its highest and a second quarterly loss in 14 years. Photo: Indranil Bhoumik/Mint
Don't want any company to shut operations, want all to flourish: FM on stress in telecom sector. (REUTERS)
The bank deposits are insured by Deposit Insurance and Credit Guarantee Corporation (DICGC) (Hemant Mishra/Mint)
Union Environment Minister Prakash Javdekar addressing a press conference, in New Delhi.  (ANI )
Union Environment Minister Prakash Javdekar addressing a press conference, in New Delhi. (ANI )

Government withdraws draft bill to amend Forest Act

  • Published in March, the draft sparked protests from tribal groups over some of the proposed changes
  • Prakash Javadekar said that a “wrong impression” was created that the government wants to amend the IFA, 1927

Akshaya Moondra, chief financial officer of VIL, said the company continues to remain engaged with its financial creditors but asserted that there is no acceleration of payment which has happened. (REUTERS)
Akshaya Moondra, chief financial officer of VIL, said the company continues to remain engaged with its financial creditors but asserted that there is no acceleration of payment which has happened. (REUTERS)

Believe govt is aware of telcos' stress: Vodafone Idea CEO Ravinder Takkar

  • Vodafone Idea Ltd (VIL) plans to monetise its 11.15% stake in Indus Towers on completion of the Indus Towers-Bharti Infratel merger
  • The Supreme Court, last month, ruled in favour of the government and directed telecom companies, including Vodafone Idea, to pay dues

The acquisition of Essar Steel will make Arcelor the fourth-biggest producer in the country
The acquisition of Essar Steel will make Arcelor the fourth-biggest producer in the country

Supreme Court paves way for ArcelorMittal's takeover of Essar Steel

  • The world’s largest steelmaker, ArcelorMittal, and its partner Nippon Steel Corp had offered to pay 42,000 crore in cash to creditors and pump another 8,000 crore in the mill last year

PMEAC chairman Bibek Debroy. Photo: Pradeep Gaur/Mint
Future Group CEO Kishore Biyani.  (HT )
If you are invested in any of the debt fund having exposure to the debt papers of Vodafone Idea, you should be worried but panic won’t help. (Reuters)
Sensex rose 70 points to finish at 40,356
Photo: HT
Fortis shares plunged as much as 17.4% today
Traffic symmetry indicates that telecom operator will not have any outstanding balance of interconnect usage charges (IUC) against other networks (Aniruddha Chowdhury/Mint)
Traffic symmetry indicates that telecom operator will not have any outstanding balance of interconnect usage charges (IUC) against other networks (Aniruddha Chowdhury/Mint)

Delay in implementation of zero IUC to hurt service affordability: Jio

  • Traffic symmetry indicates that telecom operator will not have any outstanding balance of interconnect usage charges (IUC) against other networks
  • Airtel said that IUC should not come down to zero and the BAK regime should be postponed by at least three years

Axis Small Cap fund has delivered a return of around 22% over the past one year. Photo: Mint
Axis Small Cap fund has delivered a return of around 22% over the past one year. Photo: Mint

Axis Small Cap fund outperforms in last one year. But is that enough?

  • Most of the funds in the small cap category are in negative territory over this period
  • Going by one year's track record, the fund's outperformance looks impressive, but investors shouldn't lose sight of the fact that equities are long term vehicle of investments

Airbus chief technology officer Grazia Vittadini. (Photo: Bloomberg)
The distress in the countryside, we know, was especially severe. (Mint )
The distress in the countryside, we know, was especially severe. (Mint )

Opinion | The curious case of a consumption decline

A leaked NSO survey report says that expenditure by consumers across India actually fell over a six-year span till 2017-18. This is at odds with our GDP data. So what explains this finding?

Photo: Pradeep Gaur/Mint
If India is to revive its flagging export sector, it will have to reshape its policy mix in various ways
If India is to revive its flagging export sector, it will have to reshape its policy mix in various ways

Opinion | India’s export woes

Exporters have had to suffer inordinate delays in the refunds due to them under the goods and services tax regime

The patent was filed back in August 2018 before it was granted and published last month. (REUTERS)
The patent was filed back in August 2018 before it was granted and published last month. (REUTERS)

Xiaomi patents vertically folding smartphone

  • The patent was filed back in August 2018 before it was granted and published last month
  • Xiaomi is expected to release a foldable phone by the end of 2019

Haldiram Snacks had earmarked  ₹135.64 crore for the financial creditors out of its total offer of  ₹141.59 crore to acquire Kwality Ltd.
Bill Gates, co-chair, Bill & Melinda Gates Foundation, and Rishad Premji, chairman of Wipro Ltd
Bill Gates, co-chair, Bill & Melinda Gates Foundation, and Rishad Premji, chairman of Wipro Ltd

Mint Visionaries 2019 - An overview

  • Bill Gates, co-chair, Bill & Melinda Gates Foundation, will be in conversation with Rishad Premji, chairman of Wipro Ltd