1India ranked 19th in pharma competitiveness survey
- India has been ranked No. 19 with an overall score of 59 out of 100.
- US, UK and Switzerland lead, with the US at No. 1 with a score of 86.
- The ranking is part of the third edition of the Biopharmaceutical Competitiveness Survey (BCI).
2Jet Airways launches sale with fares starting Rs 939
- Spice Jet and AirAsia India airlines, Mumbai based Jet Airways also slashed air fares under the festival offers.
- The offer is sure to get a lot of attention considering the New Year and Christmas vacation ahead.
- Jet Airways has announced economy fares on an all-inclusive of Rs 939 for selected destinations.
- SpiceJet had announced similiar offer on Tuesday with air fare as low as Rs 888 for its domestic flights and Rs 3,699 for International flights.
3‘India can save RS 70k cr by reducing cash transactions’
- India can save up to Rs 70,000 crore in the next five years by taking measures to reduce cash handling by widening digital transactions base.
- With three-fold to about 4 million from 1.3 million today and add about 40.9 million households to the financial system.
- These actions would enable India to significantly increase the adoption of digital payments.
4Reliance to sell Rs 2,000 crore assets to Adani
- Anil Ambani today signed an agreement to sell its power transmission assets to Adani Group for over Rs 2,000 crore.
- RInfra owns two electricity transmission lines spanning Maharashtra, Gujarat, Madhya Pradesh and Karnataka and has a 74 per cent stake.
- Reliance Infrastructure Ltd (RInfra) today announced the signing of a binding term sheet with Adani Transmission Ltd (ATL) for 100 per cent stake sale of its transmission assets.
5Automation threatens 69% jobs in India: World Bank
- Automation threatens 69 per cent of the jobs in India, while 77 per cent in China.
- They continue to encourage more investment in infrastructure to promote growth.
- They all know that technology has and will continue to fundamentally reshape the world.
6Yes Bank violated norms while raising $1bn: Report
- India’s capital markets regulator has found reason to launch adjudication proceedings against Yes Bank Ltd and its investment bankers over its abortive $1 billion fund-raising effort last month.
- Initial investigations by the Securities and Exchange Board of India (Sebi) found that Yes Bank had violated key norms of the listing obligations.
- Yes Bank disclosure rules (LODR) relating to misrepresentation of facts and adequate disclosure before it proceeded with the qualified institutional placement (QIP).
7Global debt of non-financial sector hits all-time high
- Gross debt in the non-financial sector has more than doubled in nominal terms since the turn of the century, reaching $152 trillion last year, and it’s still rising.
- The Current debt levels now sit at a record 225 percent of world gross domestic product.
- The rest of it is public debt, which has increased to 85 percent of GDP last year from below 70 percent.
8Inflation to stay above 5% till 2019-20: IMF
- The latest World Economic Outlook (WEO) database, puts Indian inflation at above 5% till the end of 2019-20 and 4.9% by the end of 2021-22.
- The IMF believes India will achieve 8% plus growth by 2021-22.
- The growth will be achieved by a rising trend of both investment and savings.
- Both investment and savings as a percentage of GDP will be lower in 2021-22 than in 2014-15.