• In response to better global growth, easier domestic financial conditions, positive fiscal impulse, improved sentiment and easing supply bottlenecks, the slowdown that began in January 2018 is expected to end soon, said a report released by Goldman Sachs Economics Research.
  • Goldman Sachs also believes there are some early signs of economic stabilisation. Although credit to industry remains muted, personal loans continue to show robust growth. Foreign direct investment (FDI) has increased by 23% in the first six months of FY20, and services exports continue to perform above the average for emerging economies, the report said.
  • This decade is set to be the hottest in history, the United Nations said in an annual assessment outlining the ways in which climate change is outpacing humanity’s ability to adapt to it.
  • The World Meterological Organization said global temperatures so far this year were 1.1 degrees Celsius (two degrees Farenheit) above the pre-industrial average between 1850-1900.
  • That puts 2019 on course to be in the top three warmest years ever recorded, and possibly the hottest non-El Nino year yet.
  • Man-made emissions from burning fossil fuels, building infrastructure, growing crops and transporting goods mean 2019 is set to break the record for atmospheric carbon concentrations, locking in further warming, the WMO said.
  • JSW Steel expects to supply high quality JSW Neosteel TMT Rebars worth Rs. 600 crore to various Metro rail projects under construction this fiscal.
    In the last two months, the company had supplied 30,000 tonnes Neosteel Rebars for Metro projects, resulted in its overall supply of rebars to metro construction projects to over 85,000 tonnes in this fiscal.
    In the current financial year, the company expects to increase supplies to the Metro Rail projects to about 1.50 lakh tonnes against average of 1 lakh tonnes logged in last few years.
    It is supplying to Metro Rail projects in Mumbai, Nagpur, Pune, Bangalore, Chennai, Kolkata, Indore, Bhopal, Lucknow and Ahmedabad.
  • The country’s manufacturing sector activity inched up in November, but the upturn remained subdued as growth rates for new orders as well as production were modest, a monthly survey said. The IHS Markit India Manufacturing PMI rose to 51.2 in November from 50.6 in October, when it had fallen to a two-year low, indicating only a slight improvement in the health of the sector.
  • Telecom operators like Bharti Airtel and Reliance Communications have announced tariff hikes recently. GV Giri, analyst at IIFL Institutional Equities believes the tariff hikes would not influence their sales volumes too much but, may result in some revenue growth.
  • Moreover, since all the operators have not raised rates, it may not lead to serious earnings upside for the sector as a whole. In fact, if Reliance alone hikes tariffs and others do not, there might even be a risk of diverting customers to other operators.
  • Indian Railways has the worst operating ratio in the last ten years at 98.44% and its revenue surplus has decreased by more than 66% from Rs 4,913 crore in 2016-17 to Rs 1,665.61 crore in 2017-18, the Comptroller and Auditor General of India noted in report tabled in Parliament.
  • The auditor noted that Indian Railways was unable to meet its operational cost of passenger services and other coaching services. One of the contributing factors for this has been the concessional fares the national transporter provides to various beneficiaries.
  • Almost 95% of the profit from freight traffic was utilized to compensate the loss on operation of passenger and other coaching services.