RIL hits another milestone
Reliance Industries (RIL), the oil-to-telecom behemoth, on Friday hit another milestone as the market capitalisation (m-cap) of the company breached the coveted Rs 9 trillion-mark, the first by any Indian company.
Pakistan stays on terror financing grey list
International terror financing watchdog FATF on Friday retained Pakistan on the Grey List and warned the country of action for its failure in combating money laundering and terror financing, officials said. The decision was taken after a five-day plenary of the Financial Action Task Force (FATF) held in Paris. The FATF noted that Pakistan addressed only five out of the 27 tasks given to it in controlling funding to terror groups like the Lashkar-e-Taiba and Jaish-e-Mohammad, responsible for series of attacks in India.
CJI recommends Justice S A Bobde as his successor
Chief Justice of India Ranjan Gogoi on Friday sent a letter to the Centre recommending Justice S A Bobde, the senior-most judge of the Supreme Court, as his successor. Official Sources told PTI that Justice Gogoi wrote a letter to the Ministry of Law and Justice recommending Justice Bobde to be the next chief justice. Justice Gogoi, who was sworn in as the 46th Chief Justice of India on October 3, 2018, will demit the office on November 17.
The CBI on Friday filed a chargesheet before a Delhi court against former finance minister P Chidambaram in the INX Media case. The charge sheet names 14 accused, including the Congress leader's son Karti Chidambaram, Peter Mukerjea and Indrani Mukerjea.
Present economic crisis is worse than 2008 recession: Goldman Sachs
The consumption slump, a major challenge afflicting the economy, cannot be attributed to the NBFC crisis as it predates the first default by infra lender IL&FS, says a brokerage, which has also slashed growth forecast to 6 percent with a downward bias. Many people attribute the deepening slowdown in consumption to the NBFC crisis that began in September 2018 when IL&FS went belly up following which consumption financing--a forte of shadow banks, stopped with a chill in disbursements by these players.
Oil companies defer decision to suspend fuel supplies to Air India
State-owned fuel retailers on Friday decided to defer their decision to suspend jet fuel supplies to Air India after the national carrier promised to make regular payments to clear outstanding dues, officials said. The three state-owned oil companies - Indian Oil Corporation (IOC), Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL) - had earlier this month threatened to snap aviation turbine fuel (ATF) supplies to Air India at six major airports over payment delays.