newsletter from treeline business...
TRANSCRIPT
The draft model law on the goods and service tax (GST) has pro-
posed to bring all online purchases within its ambit.
The Union Cabinet cleared the civil aviation policy that will allow
newer carriers to fly on international route and also provide in-
centives to maintenance, repair and operations (MRO) sector.
HDFC Ltd and Max Financial Services have agreed to discuss a
possible merger of their life insurance businesses in a develop-
ment that could create India’s largest private-sector life insurer.
GMR Infrastructure is reportedly in advanced talks with private
equity firms and sovereign funds to divest a controlling stake in
its Hyderabad airport for as much as INR 5,000 crores.
The Securities and Exchange Board of India proposed to allow
Real Estate Investment Trusts (REITs) to invest in under construc-
tion assets and have more sponsors.
The Reserve Bank simplified the process of registration of new
NBFCs by reducing the application form and the checklist of doc-
uments from the existing set of 45 documents to about 8.
The Union Cabinet has given in principle approval to State Bank
of India's proposal to merge its five associate banks and Bharati-
ya Mahila Bank with itself.
Jaypee Infrastructure has sought approval from Yamuna Express-
way Development Authority to securitise and sell the future in-
come from toll collections at the Yamuna Expressway.
NITI Aayog is of drawing a plan for the government to reduce its
holdings in state-run companies where it owns a 60% stake.
Foreign Investment Promotion Board has rejected French bank
BNP Paribas' bid to buy Sharekhan from private equity owners.
Week Ending
Jun 20, 2016
“I've never bought a stock unless, in my view, it
was on sale”
- John Neff
Newsletter from
Treeline Business Solutions
NIGERIA BUSINESS HIGHLIGHTS INDIA BUSINESS HIGHLIGHTS
Central Bank of Nigeria said it will allow the Naira exchange rate
to be market-driven from June 20.
Nigeria's inflation continued their upward trend for the fourth
consecutive month touching 15.6% in May 2016, from the 13.7%
reported in April.
MTN Group said that it would spend N143bn in upgrading its
Nigeria's network in the 2016 fiscal year.
At least 5 states are ready to access the Federal Government's
N90bn budget support loan facility for States, the Federal gov-
ernment said.
Voice, Data and Telephony (VDT) Communications has moved
into the retail broadband market with the launch of 4G LTE ad-
vanced service.
The Federal Government shut down the operations of National
Economic Reconstruction Fund following the crises that have
crippled the agency within the last three weeks.
U.S. Fund Manager-Pecora Capital has agreed to raise USD 2bn
over the next 18 months for Nigerian infrastructure projects.
National Cashew Association of Nigeria has said that Cashew
export generated USD 253mn in foreign exchange for the coun-
try in 2015.
Nigeria Labour Congress issued a strike notice to six banks and
threatened to shut down the banks and their outlets nationwide
over mass sacking of workers.
The International Air Transport Association has said that Nigeria
and 11 other African nations can generate 155,000 jobs and USD
1.3bn in annual GDP if air transport is liberalized.
GLOBAL BUSINESS HIGHLIGHTS
The US Federal Reserve decided to keep interest rates at between 0.25% and 0.5% in the face of an uncertain jobs market.
Bank of Japan held rates at minus 0.1% and said it will continue to conduct money market operations at an annual pace of JPY 80 trillion.
Microsoft is buying the professional networking website LinkedIn for just over USD 26bn in cash.
The UK's inflation rate, as measured by the Consumer Prices Index, was unchanged in May at 0.3%.
Chinese car-hailing app Didi Chuxing Technology Co said it raised USD 7.3bn in its latest round of funding, including USD 4.5bn from new and existing
investors.
Walt Disney Co. opened the gates to its first resort in mainland China , after years of planning and costs of more than USD 5.5bn.
Cosmetics maker Revlon Inc has agreed to buy Elizabeth Arden Inc in an USD 870mn deal to strengthen its skincare and fragrance business.
COMPARATIVE WEEKLY MARKET PERFORMANCE
CH
AR
T O
F T
HE
W
EE
K
ANNUAL AVERAGE INFRASTRUCTURE SPENDING AS % OF GDP (1992—2013)
Source: McKinsey, Bloomberg
7.4%, 29247
1.9%, 1298
0.6%, 67.120%, 8170
0%, 26626
-1.1%, 17675 -1.4%, 2885-2.1%, 806
-6%, 15600
Nig
eria
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US
D I
NR
NSE
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ty
BSE
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