Top 10 business headlines: NSSO jobs data, Jet resolution plan, and more
Half of India’s working-age population (15 years and above), for the first time, are not contributing to any economic activity, according to the National Sample Survey Office’s (NSSO’s) latest jobs survey.
The labour force participation rate (LFPR) — the share of the population who are either working or available for work — stood at 49.8 per cent in 2017-18, falling sharply from 55.9 per cent in 2011-12. Click here to read
Interim Budget reduces RBI rate cut possibility in February, say economists
Chances of a rate cut in the Reserve Bank of India’s (RBI’s) February monetary policy are almost ruled out because the Budget is inflationary in nature, say economists. Though a section in the market still expects a rate cut in February, the rise in bond yields after the Budget points to a different direction. Read more
Naresh Goyal to infuse around Rs 250 crore into debt-ridden Jet Airways
Jet Airways Chairman Naresh Goyal is putting in around Rs 250 crore in the airline as he negotiates a resolution plan with partner Etihad Airways. The airline’s finances have been stretched for the last few months and it has been making part payment to a section of employees and its vendors. More details here
My first choice would be a foreign partner: Zee Entertainment MD & CEO
On January 25, the stock markets pummelled Zee Entertainment’s stock, pushing it down by over 30%. This was reportedly in the wake of a story in The Wire linking a firm with dodgy demonetisation transactions with Zee’s parent, the $4-billion Essel Group. Read on
RCom says NCLT debt resolution proposal to be similar to earlier plans
Anil Ambani-led Reliance Communications (RCom), which on Friday said it would be filing for bankruptcy in the National Company Law Tribunal (NCLT) after the telco failed to take necessary approvals from lenders and the Department of Telecommunications (DoT) to conclude its deal with Reliance Jio, informed the exchanges on Sunday that it plans to propose a similar debt resolution plan in the tribunal as was being earlier pursued with creditors. Read more
Looking for regular income from mutual funds? Here are the best options
Are you looking for regular income from mutual funds? If so, the question is what is the best way to invest in mutual funds to get a steady flow of money from them. In the calendar year 2017, investors had lapped up monthly dividend paying hybrid mutual fund schemes as booming markets and higher dividend income compared to traditional fixed deposits had made them a good source of regular income.
Uniform stamp duty for financial instruments may push M&A cost: Experts
A process to streamline stamp duty collection for financial instruments, as proposed in the interim Budget, may have multiple effects. It is likely to affect states, brokers, companies closing deals and those looking to raise debt capital. The cost of raising debt through debentures, and carrying out mergers and acquisition deals may be higher than before. Read on
Infosys drafts a new strategy to focus on growth from top clients
Executives from Infosys Ltd’s consulting practice will now work jointly with sales and delivery heads to garner more business by offering a wider array of services to its top clients, according to a Livemint report.
Big 4 IT firms hire 70,000 in past 9 months
Jobs growth in the Indian IT industry has revived from an alarming low last fiscal, according to data collected from the top four IT services companies in the country. Tata Consultancy Services, Infosys, Wipro and HCL Technologies together hired over 70,000 people in the nine months to December 2018, which was five times growth over the total hiring made in 2017-18, according to The Economic Times.
Creditors panel approve JNPT's BID to buy debt-laden Dighi Port
The Committee of Creditors (CoC) has backed the resolution plan placed by state-owned Jawaharlal Nehru Port Trust (JNPT) to buy the debt-laden Dighi Port Ltd under India’s bankruptcy and insolvency law, according to The Hindu BusinessLine.
-ANI
