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TOP 10
THINGS
9 October 2019
1
7 October 2019
TOP 10 THINGS TO KNOW
E-tailers could see $6 billion sales this festive season: RedSeer
E-commerce companies such as Flipkart and Amazon could generate up to $6
billion or Rs 39,000 crore in sales this festive season, according to consulting firm
RedSeer. In the first phase of the festive sale, E-commerce companies are
estimated to have registered sales of close to $3 billion or Rs 19,000 crore, up 30
percent from last year. This is about 80 percent of RedSeer's forecast of $3.7
billion sales in the first phase of festive sale this year.
Bliss GVS Pharma's Maharashtra facility clears USFDA inspection
Drug firm Bliss GVS Pharma has said its subsidiary Kremoint Pharma has cleared an
inspection of its Ambernath facility in Maharashtra by the US health regulator. The
inspection by the United States Food and Drug Administration (USFDA) was
conducted from June 17-20, 2019, Bliss GVS Pharma said in a statement. "The
successful audit outcome from USFDA is a reflection of the steady progress that
we are making into the mature pharma markets," Bliss GVS Pharma VP-Strategy &
Business Development Gagan Harsh Sharma said.
Domestic industry for continuation of anti-dumping duty on certain
steel items from 3 countries; Govt starts probe
The government has started a probe to see whether the expiry of existing anti-
dumping duty on certain hot-rolled steel products from China, Malaysia and
South Korea would lead to continuation of dumping of the product, following
complaints by the domestic industry. According to a notification of the Directorate
General of Trade Remedies (DGTR), Jindal Stainless (Hisar) Ltd and Jindal Stainless
Ltd have jointly filed a review petition for continued imposition of the existing
anti-dumping duty on the imports of 'Hot Rolled Flat Products of Stainless Steel-
304 grade' from China , Malaysia and Korea.
Fintech start-up Subh Loans gets NBFC licence from RBI
Fintech start-up Shubh Loans on October 8 said it has received a licence from the
Reserve Bank of India to set up a non-banking financial company. The company
said the licence has been received through the subsidiary -- Ekagrata -- of its
parent company Datasigns Technologies.
2
Brexit deal is "essentially impossible" ever, says Downing Street
source
A Brexit deal is essentially impossible as German Chancellor Angela Merkel has told
Britain's Prime Minister Boris Johnson that to do one Northern Ireland must stay in
the European Union's customs union, a Downing Street source said on October 8.
With just 23 days to go before the United Kingdom is due to leave the EU, the future
of Brexit remains deeply uncertain and both London and Brussels are positioning
themselves to avoid blame for a delay or a disorderly no-deal Brexit.
Most Asian currencies firm ahead of Sino-US trade talks
Most Asian currencies edged higher on Tuesday with the Chinese yuan
firming the most after reopening from a week-long holiday while investors
held positions ahead of the high-level Sino-US trade talks on Thursday and
Friday. Prospects for progress in US-China trade talks dimmed on Monday
after Washington blacklisted Chinese companies but comments by US
President Donald Trump and his top economic adviser, Larry Kudlow on
looming trade talks were generally upbeat.
US widens blacklist to include China's top AI startups ahead of trade
talks
The U.S. government expanded its trade blacklist to include some of China's
top artificial intelligence startups, punishing Beijing for its treatment of Muslim
minorities and ratcheting up tensions ahead of high-level trade talks in
Washington this week. The decision, almost certain to draw a sharp response
from Beijing, targets 20 Chinese public security bureaus and eight companies
including video surveillance firm Hikvision , as well as leaders in facial
recognition technology SenseTime Group Ltd and Megvii Technology Ltd.
9 October 2019
Maruti Suzuki cuts production for 8th straight month in Sept
Reeling under a prolonged slowdown, Maruti Suzuki India (MSI) reduced its
production by 17.48 per cent in September, making it the eighth straight month
when the country's largest car maker lowered its output. The company produced
a total of 1,32,199 units in September as against 1,60,219 units in the year-ago
month, Maruti Suzuki India (MSI) said in a regulatory filing.
3
Gold dips as dollar holds strong ahead of Sino-US trade talks
Gold prices slipped to a near one-week low on Tuesday, declining for a
third straight session, weighed down by a firmer dollar ahead of the
upcoming trade talks between China and the United States. Spot gold
was down 0.3 percent at $1,489.32 per ounce, as of 0627 GMT. Prices
had dropped 1 percent in the previous session. US gold futures fell 0.6
percent to $1,494.60 per ounce.
Coking coal shipments rise 15% to 29 MT at 12 state-run ports in Apr-
Sep
Coal shipments handled by India's 12 major state-run ports during
April-September rose by 15.25 percent to 29.29 million tonne (MT),
according to a ports' body. The state-run ports had handled 25.41 MT
of coking coal cargo in the corresponding period of the previous fiscal.
Shipments of thermal or steam coal, however, declined by 13.20
percent to 44.87 million tonne, the Indian Ports Association (IPA) data
showed. The IPA said these ports handled 51.69 MT of thermal coal in
the April-September period of the previous fiscal.
9 October 2019
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Top 10 things 9 10-19

  • 2. 1 7 October 2019 TOP 10 THINGS TO KNOW E-tailers could see $6 billion sales this festive season: RedSeer E-commerce companies such as Flipkart and Amazon could generate up to $6 billion or Rs 39,000 crore in sales this festive season, according to consulting firm RedSeer. In the first phase of the festive sale, E-commerce companies are estimated to have registered sales of close to $3 billion or Rs 19,000 crore, up 30 percent from last year. This is about 80 percent of RedSeer's forecast of $3.7 billion sales in the first phase of festive sale this year. Bliss GVS Pharma's Maharashtra facility clears USFDA inspection Drug firm Bliss GVS Pharma has said its subsidiary Kremoint Pharma has cleared an inspection of its Ambernath facility in Maharashtra by the US health regulator. The inspection by the United States Food and Drug Administration (USFDA) was conducted from June 17-20, 2019, Bliss GVS Pharma said in a statement. "The successful audit outcome from USFDA is a reflection of the steady progress that we are making into the mature pharma markets," Bliss GVS Pharma VP-Strategy & Business Development Gagan Harsh Sharma said. Domestic industry for continuation of anti-dumping duty on certain steel items from 3 countries; Govt starts probe The government has started a probe to see whether the expiry of existing anti- dumping duty on certain hot-rolled steel products from China, Malaysia and South Korea would lead to continuation of dumping of the product, following complaints by the domestic industry. According to a notification of the Directorate General of Trade Remedies (DGTR), Jindal Stainless (Hisar) Ltd and Jindal Stainless Ltd have jointly filed a review petition for continued imposition of the existing anti-dumping duty on the imports of 'Hot Rolled Flat Products of Stainless Steel- 304 grade' from China , Malaysia and Korea. Fintech start-up Subh Loans gets NBFC licence from RBI Fintech start-up Shubh Loans on October 8 said it has received a licence from the Reserve Bank of India to set up a non-banking financial company. The company said the licence has been received through the subsidiary -- Ekagrata -- of its parent company Datasigns Technologies.
  • 3. 2 Brexit deal is "essentially impossible" ever, says Downing Street source A Brexit deal is essentially impossible as German Chancellor Angela Merkel has told Britain's Prime Minister Boris Johnson that to do one Northern Ireland must stay in the European Union's customs union, a Downing Street source said on October 8. With just 23 days to go before the United Kingdom is due to leave the EU, the future of Brexit remains deeply uncertain and both London and Brussels are positioning themselves to avoid blame for a delay or a disorderly no-deal Brexit. Most Asian currencies firm ahead of Sino-US trade talks Most Asian currencies edged higher on Tuesday with the Chinese yuan firming the most after reopening from a week-long holiday while investors held positions ahead of the high-level Sino-US trade talks on Thursday and Friday. Prospects for progress in US-China trade talks dimmed on Monday after Washington blacklisted Chinese companies but comments by US President Donald Trump and his top economic adviser, Larry Kudlow on looming trade talks were generally upbeat. US widens blacklist to include China's top AI startups ahead of trade talks The U.S. government expanded its trade blacklist to include some of China's top artificial intelligence startups, punishing Beijing for its treatment of Muslim minorities and ratcheting up tensions ahead of high-level trade talks in Washington this week. The decision, almost certain to draw a sharp response from Beijing, targets 20 Chinese public security bureaus and eight companies including video surveillance firm Hikvision , as well as leaders in facial recognition technology SenseTime Group Ltd and Megvii Technology Ltd. 9 October 2019 Maruti Suzuki cuts production for 8th straight month in Sept Reeling under a prolonged slowdown, Maruti Suzuki India (MSI) reduced its production by 17.48 per cent in September, making it the eighth straight month when the country's largest car maker lowered its output. The company produced a total of 1,32,199 units in September as against 1,60,219 units in the year-ago month, Maruti Suzuki India (MSI) said in a regulatory filing.
  • 4. 3 Gold dips as dollar holds strong ahead of Sino-US trade talks Gold prices slipped to a near one-week low on Tuesday, declining for a third straight session, weighed down by a firmer dollar ahead of the upcoming trade talks between China and the United States. Spot gold was down 0.3 percent at $1,489.32 per ounce, as of 0627 GMT. Prices had dropped 1 percent in the previous session. US gold futures fell 0.6 percent to $1,494.60 per ounce. Coking coal shipments rise 15% to 29 MT at 12 state-run ports in Apr- Sep Coal shipments handled by India's 12 major state-run ports during April-September rose by 15.25 percent to 29.29 million tonne (MT), according to a ports' body. The state-run ports had handled 25.41 MT of coking coal cargo in the corresponding period of the previous fiscal. Shipments of thermal or steam coal, however, declined by 13.20 percent to 44.87 million tonne, the Indian Ports Association (IPA) data showed. The IPA said these ports handled 51.69 MT of thermal coal in the April-September period of the previous fiscal. 9 October 2019
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