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Govt intends to maintain fiscal discipline in the coming years: Arun Jaitley
Finance minister Arun Jaitley said on Friday the government intends to maintain fiscal discipline in the coming years as structural reforms in the last few years have placed the economy on a high-growth trajectory. The government has set a fiscal deficit target of 3.2% of the gross domestic product (GDP) for 2017-18 and 3% for the next fiscal. The minister called the rating upgrade a belated recognition of the steps taken in the last few years which he said had strengthened the economy.
Mega Business Expo to be held at Hyderabad on Nov 25-26
Hyderabad (Telangana) , Nov 17 (ANI): Hyderabad is all set to host the 'Skill Seeds International MSME and Startup Expo 2017' from November 25-26 at the National Small Industries Corporation Campus. HyderabadOnline.in, has joined hands with IESBUD as the Official Digital Media Partners for the expo. HyderabadOnline.inhas been working seamlessly for Businesses across the city of Hyderabad to get them unmatched online visibility.
Emerging market inflows stall; flows to Mexico hit six-year low
Emerging market assets have had inflows of about $14 billion since late September, the group said, noting that the pace of inflows has slowed and has become more volatile - in line with trends in daily cross-border portfolio flows. Investors told Reuters, however, that the slowdown was largely the result of cyclical trends, as emerging market buying regularly slows in the later months of the year.
'Fiscal deficit may miss target; but consolidation commitment clear'
Over the medium term, if met by rising demand for investment and loans, the measures will help foster more robust growth, in turn supporting fiscal consolidation. Finance Minister Arun Jaitley has indicated that there could be some rethink on the fiscal consolidation roadmap. We forecast the general government budget deficit at 6.5% of GDP this fiscal year, similar to the last two fiscal years. We think that the government's commitment to fiscal consolidation remains.
'Tax-making rules should be in the hands of poor nations'
This was among the several concerns that came up for discussion at the opening session of the first major international conference on the SDGs to be held in India, at St Philomena's College here on Friday. India, as part of G20, has asked the OECD to share information and draft rules for corporate firms to pay their fair share of taxes.
Bhat, Agrawal elevated to Tata Sons board
Mr Bhat had helped his company drive brand value and achieve a market capitalisation of $10 billion, while Mr Agrawal brought deep capital market knowledge and valuable cross industry experience to the Tata group, Tata Sons said in a statement. The board will benefit from the tremendous experience and knowledge of these professionals in multiple domains. I wish them luck and look forward to working with them.
'Borrowing costs may not dip soon'
The rating upgrade by Moody's will help Indian corporates to reduce their borrowing costs in the medium term as it will lower the risk premium for the companies. The rating upgrade comes after a gap of almost 14 years, which many economists said was long overdue. HPCL said the firm would benefit from both lower borrowing costs and a stronger rupee. The ratings upgrade will definitely help in reducing our borrowing costs on one hand and the stronger rupee.
TCS creates facility for Zebra Technologies
TCS creates facility for Zebra Technologies. Tata Consultancy Services on Friday unveiled a global development centre in Hyderabad for tracking technology firm Zebra Technologies. The new centre, following Zebra Technologies' selection of TCS as its managed service supplier for IT and infrastructure services, will deliver IT, network and compute infrastructure managed services. Our relationship with TCS has enabled us to scale our services globally and realise operational efficiencies as we grow and transform our business, said Deepak Kaul, chief information officer, Zebra Technologies.
Take Five: World markets themes for the week ahead
Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them. Its parliamentary majority is razor thin and Prime Minister Theresa May's authority has been undermined by a series of gaffes and cabinet resignations. It will also give investors time assess how serious they think the wobble in world stocks over the last couple of week really is.
In Indian avatar, Uber mulls call-to-ride feature
In a battle to dominate the ride-sharing market in India, Uber is taking on Ola and other homegrown taxi-aggregators with innovation. This is not like 'let's do an extra feature for India,' said Daniel Graf, vice president and product head at Uber. Uber said it would also start its 'request for a guest' feature for its app in the next few weeks. It would allow riders to book cabs for their guests, friends and relatives from their Uber app wherever they are located.
GoAir inducts four more planes, to add 30 additional flights
The Wadia-group-run no-frills carrier GoAir today said it has expanded its fleet size to 31 aircraft with the induction of four more new A320 Neos, which will help it launch more routes and 30 additional flights. The induction of four new aircraft will cater to the enhanced seasonal demand while offering flexibility to customers with more flight options to choose from, GoAir managing director Jeh Wadia said.
Dwindling British fortunes to be laid bare
The diverging trajectories of Britain and other major economies is set to be further laid bare in the coming week with London's budget forecasters poised to cut their growth outlook and data elsewhere likely to remain solid. The Chancellor is in an unenviable position heading into the budget, Mark Gregory, chief UK economist at accountancy firm EY, wrote in a note.
Infosys' Rs 13,000 cr buyback begins Nov 30; Nilekani, Murthy to take part
Infosys on Friday said share buyback would begin on November 30 and close on December 14. The company had announced in August that it would repurchase shares worth up to Rs 13,000 crore. Apart from other shareholders, a majority of the 19-member promoters of Infosys, including N R Narayana Murthy and recently appointed non-executive chairman Nandan Nilekani, will participate in the company's share buyback. Promoter and promoters group currently hold 12.75 per cent stake in India's second-largest software exporter with 29.28 crore equity shares.
India's NHPC could bid for Nepal's $2.5 billion power project pulled from China
State-run NHPC could look at developing what will be the country's biggest hydropower plant, its Chairman Balraj Joshi told Reuters. It is too early to talk about funding as firstly the techno-economical parameters of the project would have to be studied, Joshi said on Friday. With elections in Nepal scheduled to begin later this month, the project is not likely to be discussed by the governments anytime soon, a senior power ministry official said.
U.S. tax plan could cause sugar high, then economic slump
I worry about a sugar rush which you crash harder from, said Gregory Peters, a managing director and senior investment officer at PGIM Fixed Income. White House spokeswoman Sarah Sanders said on Thursday a new tax code would be rocket fuel for the economy. A tax cut as planned could also be bad for consumer spending, Avenue Capital Group co-founder Marc Lasry forecast. Avenue Capital Group's Lasry forecast that the market would likely pull back if tax reform failed to materialize.
World's first bitcoin short notes allow bears to ride big swings
Bitcoin bears now have another way to bet on price falls. Swiss structured products houses Vontobel AG and Leonteq Securities AG started separate products on Friday that allow investors to profit if the price of bitcoin tumbles. The new certificates could usher in more two-way price movement in what has largely been a one-way market so far. Intraday price swings of 10% or more are not uncommon in bitcoin trading.

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