Sep 20, 2017 - Tata Steel, Thyssenkrupp sign MoU for European Steel JV; shares gain

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Sree Vijaykumar From the Editor's Desk With a 44% share of the global cruise market, Carnival PLC is now eyeing Indian shores. However, David Dingle, the company's Chairman, says there are a number of fiscal challenges the government needs to fix before India can emerge as a competitive market for global cruise operators. Excerpts from a conversation as Tradebriefs caught up with him on his last visit to India in August 2017. Read on ... Introducing TradeBriefs SME - Print edition - Subscribe Now! | Sample copy Advertisers of the day Standard Chartered Bank (Personal Loans): Your dream holiday is now closer than ever On behalf of SAP India: Identify the perfect SAP solution for your business in 3 easy steps Our advertisers help fund the daily operations of TradeBriefs. We request you to accept our promotional emails (B2B Decision-Makers, B2C Decision-Makers, TradeBriefs Premium). Tata Steel, Thyssenkrupp sign MoU for European Steel JV; shares gain According to Tata Steel, joint venture with Thyssenkrupp to be formed on non-cash basis. Advt: Lending solutions for all your long-term business needs No company starts big. They grow over time. Standard Chartered will be your companion in this growth journey, giving you solutions that fit your needs at every stage (Know More) Advt: Work for the best employer - Yourself Advantages - Best B2B audience in India, no hard-selling or up-front costs involved, access to our content repository and air-tight agreements with instant gratification. Task cut out for PM Modi, Arun Jaitley to revive Indian economy; fiscal stimulus the need of the hour Finally, there's alignment of views within the government and outside that the Indian economy is not in the best shape. It took a nudge and a warning from BJP's parent RSS with some grounds-up feedback for the government to exit the denial mode and get in Hindalco, India’s top aluminium maker, will bypass bonds for loans any day For AA-rated Indian borrowers such as Hindalco, choosing loans over rupee-denominated bonds is becoming a no-brainer after a drop in lending rates to the cheapest in 7 years Did Flipkart just break the hubris meter? Flipkart CEO Kalyan Krishnamurthy says profitability not the highest priority today. After $2.8 billion in funding this year, it’s evident why IUC cut: An aggressive Reliance Jio a big worry for Airtel, Idea The IUC cut will result in massive savings for Reliance Jio, giving it room to launch competitive tariff plans to counter Airtel, Vodafone and Idea Cellular Surviving cost pressures key challenge for new entrants in cement sector Revival in cement demand has taken longer than expected, and costs are escalating Modi government finds a fix for India's big economic worries; remedial measures likely soon There has been concern in the govt over growth slumping to a 3-year low of 5.7% in the April-June quarter due to GST rollout and lingering impact of note ban. Shell companies: Govt may have applied Companies Act retrospectively to bar directors Section 164 (2) (a) of Companies Act 2013, enforced on 1 April 2014, allows for disqualifying directors of a company that hasn’t filed financial statements or annual returns for three consecutive fiscal years Canada Pension Funds may drive in Rs 4000 crore to India India is looking to boost investment in roads, ports, railways, energy and airports to upgrade its woeful infrastructure as part of efforts to bolster economic growth. Amplus Capital looks to raise up to Rs250 crore for third realty fund The firm will start raising the new Amplus Realty Fund-III around mid-October and plans to mop up between Rs200-250 crore SoftBank Vision Fund, Sun Mobility in talks for $100 million investment The talks between SoftBank Vision Fund and Chetan Maini’s Sun Mobility, which makes smart batteries, come in the wake of government’s push for electric vehicles India's creative economy needs creative solutions It is time to either upgrade Trai’s capacity or to even start thinking again of an independent and separate broadcasting regulator Tata Sons spends Rs3,228.36 crore to hike stakes in group companies The share purchases will increase Tata Sons stakes by 6.8% in Tata Global Beverages, 1.34% in Tata Motors and by 4.1% in Tata Chemicals Madison India Capital garners $230 million from fourth fund The firm has also inducted Shailesh Mehta as Operating Partner. Mehta serves on several boards of companies including Safari Industries and Manappuram Finance, Madison said in a statement. India's cotton regions forecast to get much needed rain Overall rainfall in the country since June 1 is 6 percent below the long-term average, according to data on the India Meteorological Department's (IMD) website. IOC, BPCL,HPCL to borrow more to keep up capital spend:Moody’s Indian Oil Corp., Bharat Petroleum Corp. Ltd and Hindustan Petroleum Corp. Ltd will raise more capital to sustain high dividend payments and capital spending this fiscal, says Moody’s Has demonetisation harmed non-farm employment generation in the medium term? Despite the construction sector being in the doldrums, personal housing was holding its own—till demonetisation No fireworks for food prices this festive season Prices of cereals, which have highest weightage in the Consumer Price Index, are also expected to remain fairly stable, trade analysts said. Yippee top gainer in instant noodles Several lesser known brands such as Joymee, Paam Eatables, Marwari noodles and others too have gained over 2% market share of the Rs 4,000-crore noodle market. Amazon to step up FMCG discounts this year Amazons Great Indian Festival sale runs from September 21-24, with Prime users getting access to it from September 20. Sri Sri Ayurveda to launch its products in 30 more countries Sri Sri Ayurveda also partners with Franchise India to open 1,000 new stores that will exclusively sell Sri Sri brands, much like competitor Patanjali Ayurved’s network of Chikitsalaya stores Don't dare spill it! Water from Beverly Hills now comes in a diamond capped bottle, and it costs just Rs 65 lakh Yes, you read it right! A bottle of water, world's most basic commodity, worth Rs 65 lakhs is all set to enter the Indian market in mid-2018. Rice basmati weakens on muted demand New Delhi, Sep 19 (PTI) Barring a slide in rice basmati prices on subdued demand from retailers, rest other grains held steady at the wholesale grains market today. Reckitt Benckiser chairman to retire in 2018 RECKITT BENC GRP-CHAIRMAN/ (UPDATE 1):UPDATE 1-Reckitt Benckiser chairman to retire in 2018 Insights into Amazon, Flipkart and Shopclues Diwali Sale Despite Flipkart having cash reserves of $4 billion on its balance sheet, its wholesale cash and carry arm Flipkart India has taken loan of Rs 1,000 crore from Axis Bank, documents filed with the Registrar of Companies (RoC) showed. Aditya Birla group's Idea Cellular's consumer base dips 2.8 million in August GSM Mobile subscription, according to Delhi-based COAI has decreased by 6.41 million in August, with India’s subscribers base hitting 948.54 mill.. Amazon.com to revamp international site for overseas Indian consumers In India, the ecommerce player is launching its Great Indian Festival in this week from September 21-24th. Paytm in talks to acquire travel company Via.com Paytm, which raised $1.4 billion from SoftBank in May, has held preliminary discussions although a term-sheet is yet to be signed, according to four people aware of the developments. Tata Group to take on Bigbasket and Amazon in online grocery retail “Trent plans to shut its smaller format Star Daily, which will help them cut costs in rentals and at the same time serve those catchment areas throu.. 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