newsletter from treeline business...
TRANSCRIPT
India and Cyprus are poised to sign a new tax treaty which might
close doors on investors using loopholes in the bilateral
agreement to avoid paying taxes in India.
Government is reportedly coming up with a new policy on non-
conventional resources as it plans to take up ethanol blending in
petrol to 22.5% and in diesel to 15%.
Indian Hotels Co Ltd has sold 5.1% stake in Belmond Ltd, the firm
that ran a chain of luxury hotels under Orient Express banner.
GMR Energy Ltd has entered into definitive agreements with
Adani Transmission Ltd to sell transmission projects Maru
Transmission Services Ltd and Aravali Transmission Services Ltd.
Reserve Bank of India has given its final approval to Equitas
Holdings Ltd to launch a Small Finance Bank.
UltraTech Cement’s deal with Jaiprakash Associates for buying its
cement assets has run into trouble as Jaypee Group failed to
meet certain transaction commitments including clearing statu-
tory dues and providing working capital.
The World Bank has committed USD 1bn to support solar energy
programme in India.
Tata Communications Ltd has inked an agreement to sell its
South African telecom arm Neotel to Liquid Telecom, a subsidiary
of Econet Wireless Global, in a deal worth USD 428mn.
Reliance Industries and State Bank of India have signed the
shareholder agreement to set up a payments bank joint venture.
Dr. Reddy’s Laboratories said it was very close to completing
remediation work at three facilities—under the scanner of the
US FDA —before it approaches the agency for re-inspection.
Jul 04, 2016
“I always used fundamentals. But the fact is that
often, the time frame of my investments was short-
term” - Michael Steinhardt
Newsletter from
Treeline Business Solutions
NIGERIA BUSINESS HIGHLIGHTS INDIA BUSINESS HIGHLIGHTS
Federal Government has signed an agreement with China Civil
Engineering Construction Co. to expend USD 11.1bn for the con-
struction of Lagos-Calabar railway line.
Nigeria’s Minister of Transport disclosed that General Electric
(GE) would invest USD 2bn in the country's rail projects.
Nigerian Communications Commission formally declared MTN
Nigeria as the winner of the 2.6GHz spectrum auction.
The Lagos State Executive Council approved the restructuring of
Lekki Concession Company’s Loan Facility provided by local and
international lenders.
Central Bank of Nigeria is reportedly planning to resume dollar
sales to Bureaux de Change to arrest the depreciation of Naira.
Central Bank of Nigeria said it has set aside N2.5bn to fund the
members of National Youth Service Corps with good business
ideas.
Federal Government directed the immediate re-opening of
National Economic Reconstruction Fund almost one week after it
was shut.
Telecom firm, MTN said it has paid additional N30bn to the Nige-
rian Communications Commission as part of the N330bn fine.
Delta State Government signed a Memorandum of Understand-
ing with development partners to kick- start the construction of
the Delta Commercial City project in Asaba.
Federal Government is set to review the National Housing Fund
and also recapitalise the Federal Mortgage Bank of Nigeria to
boost access to mortgage loans.
GLOBAL BUSINESS HIGHLIGHTS
Standard & Poor's Ratings lowered its long-term credit rating on the European Union to 'AA' from 'AA+' but raised its outlook to "Stable" from
"Negative".
State-owned Postal Savings Bank of China has filed for a Hong Kong initial public offering (IPO) seeking to raise as much as USD 10bn.
Volkswagen has reportedly reached a USD 15bn settlement with US car owners after admitting it cheated emission tests.
Dow Chemical Co. plans to eliminate about 2,500 jobs and shut plants in North Carolina and Japan to achieve USD 500mn in cost savings.
Hershey has rejected a USD 23bn offer from Mondelez that would bring the best known biscuit and chocolate brands under one roof.
Sanofi agreed to a EUR 22.8b asset swap with Germany’s Boehringer Ingelheim GmbH that will bolster the French drugmaker’s business in selling
over-the-counter drugs.
COMPARATIVE WEEKLY MARKET PERFORMANCE
CH
AR
T O
F T
HE
W
EE
K
PERCENTAGE OF TIME SPENT BY CONSUMERS WITH MEDIA & PERCENT OF AD SPEND ALLOCATED TO MEDIA
Source: KPCB, FIPP, Statista
4.9%, 15682
4.1%, 839
3.2%, 17949 3%, 8328 2.8%, 27145 2.7%, 2932
2%, 1342
-0.8%, 67.3
-4.4%, 29305
Nik
kei
MS
CI
EM
Do
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on
es
NSE
Nif
ty
BSE
Sen
sex
Sh
ang
ha
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Go
ld
US
D I
NR
Nig
eria
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