EPS16

Economics, Political and Social Sciences Interest Group

Weekly newsletter, September Ed 2

SEPTEMBER WEEK TWO

NEWSLETTER
Asias oldest stock exchange BSE files for up to USD 150 million IPO
BSE filed for initial public offering (IPO) seeking to list its shares on larger rival National
Stock Exchange (NSE). Share holders including Singapore Exchange will be setting up to
29.96 million shares or a 27.9% stake in the IPO. Axis, Edelweiss, Jefferies and Nomura
are the joint global coordinator, Deutsche Bank, Motilal Oswal and SBI Capital Market
are the book runners for the IPO. Reuters
Thousands More Soldiers To Be Posted In Kashmir As Insurgents Fuel Protests
Thousand more soldiers will be deployed in south Kashmir, with an emphasis on rural
areas as violent protests have continue unabated in these areas since the killing of
Hizbul Mujahideen terrorist Burhan Wani two months ago
NDTV
DRDO to seek explanation from Embraer over kickback allegation
India's defence research agency DRDO will seek explanation and details from Brazilian
aircraft maker Embraer over alleged payment of kickbacks in the USD 208-million jet
deal inked during the UPA regime. The 2008 deal has come under the scanner of US
authorities which have been probing Embraer for alleged payment of bribe to secure
contracts. Economictimes
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Economics, Political and Social Sciences Interest Group

Weekly newsletter, September Ed 2

EPS16

President okays constitution amendment bill on GST

President Pranab Mukherjee has given his assent to constitution amendment bill on
GST . As of now 17 states have ratified the bill. After the nod, still process remains long
as Parliament will once again take up three relevant bills pertaining to its three
component of Central GST, State GST and Integrated GST. Times of India
PM Modi attends 11th G20 summit
Prime Minister Narendra Modi participated in the eleventh G20 Summit in Hangzhou,
China on 4-5 September, 2016. In his address at the Summit, Modi exhorted the G20
countries to isolate and sanction countries which sponsor terrorism and not reward
them. He referred to the urgent need to curb black money; to forsake protectionism;
to promote growth and demand and safeguard climate justice. Dailyo
Bharti Airtel to provide interconnection ports to Jio; Urges to curb asymmetric traffic
In a statement after meeting with TRAI, Airtel has stated that it will continue its effort in
augmenting points of interconnect for Jio. Cellular Operators Association of India
(COAI), the industry body of telecom operators was kept out of meeting. COAI in its
letter to PMO had stated about points of interconnect being a vital COGS in telecom
network and existing operators are not financially capable of handling asymmetric
tsunami of free traffic in the trial period of Reliance Jio. Airtel restated the use of IUC in
this regard. Inter Usage Charges (IUC) are the charges paid by telecom operators to
each other for connecting to others network. Bloomberg
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Economics, Political and Social Sciences Interest Group

Weekly newsletter, September Ed 2

EPS16

SAIL posts 5th straight quarterly loss amid steel glut

SAIL the Indias largest steel producer has posted a loss of INR 5.36 billion in the first
quarter of the financial year as global glut of the metal continued to weigh on prices.
Steelmakers in India are reeling from global oversupply, sliding prices, high industry
debt and weak domestic demand. Bloomberg
Vedanta shareholders approve merger with Cairn India
Shareholders of mining and energy conglomerate, Vedanta Ltd has approved the
proposed merger with its subsidiary Cairn India Ltd. This brings debt laden Vedanta a
step closer to the merger with cash rich Cairn India. Cairn India is going to have its
shareholders meeting in this regard on September 12. Bloomberg
Indian airlines recruiting more as they expand fleet and fly to more destinations
Indian carriers are in the market to hire flight attendants, as they add planes and fly to
more destinations to meet increasing demand for air travel which grew by 18% in 2015,
the fastest annualised growth rate in the world . This has given confidence to airline the
confidence to expand after being in the red for several years. Economictimes
Surge pricing for Rajdhani, Duranto and Shatabdi trains
The flexi fare system are introduced in Rajdhani, Duranto and Shatabdi trains. The
fare would keep going up with the number of tickets sold and only first 10 per cent of
the tickets will be sold at base price. It will go on increasing by 10% with every 10% of
tickets being sold, with the ceiling limit of maximum 50%. Mint

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