ECONOMIC TIMES SUMMARY FROM 27TH JULY TO 02 AUGUST

Internet giant Google is the most attractive employer for the graduates from Asia-Pacific
region in a list of top companies which figures no Indian firms.
Against the backdrop of the US blaming India for the failure of WTO talks, prime
minster narendra modi said developed countries should understand the challenges of
poverty in developing country and the governments responsibility to address them.
The oil ministry is looking at a price of US $ 6-6.5 for all domestic natural gas but wants
Reliance Industry to sell KG-D6 gas at od rate old US $4.2 till it makes up for shortfall in
supplies of past four years.
Worlds top billionaire leaders like carlos slim and Richard Branson may be advocating a
3 day working week to boost employee productivity, but HR experts believe that indie is
not ready for such model. Both are on way of preparing a model where employee has to
work for 11 hours a day that to only 3 days a week, following which they can have a 4
day long off in a week.
No retrospective tax on debt mutual funds

Redemptions till July 10 exempted from higher capital gains tax; LS passes Finance Bill

Bad news rains on Reliance

Oil ministry, CAG, SAT make things difficult; firm says always had transparency with govt
agencies

IndiGo approaches FIPB in run-up to IPO

Talks gain ground of strategic stake sale to foreign investor

Labour reforms: Govt to ease rules on apprentices, women

Cabinet may take up amendments to 3 laws on Wednesday; but no relaxed retrenchment norms
yet

With simpler processes, govt promotes ease of living in India

The focus is on the ease of living and making rather simple the tasks that currently look uphill

Japanese look to gear up luxury play

Demand for long premium sedans have tumbled as delivery backlog started piling up

Reliance Power to buy all of Jaypee's hydropower assets

Deal comes within days of Abu Dhabi's TAQA pulling out of agreement
Debt-laden Jaiprakash Power Ventures Ltd (JPVL) on Sunday said it had signed a deal to sell its
entire hydropower portfolio to Reliance CleanGen, a wholly-owned subsidiary of Anil Ambanicontrolled Reliance Power (R-Power).JVPL has a hydropower asset base - three plants with an
asset life of 50 years - worth a little over Rs 10,000 crore and with a cumulative capacity of
1,800 Mw. Jaiprakash Associates, of which JPVL is a subsidiary, is the flagship company of
Jaypee Group. On Sunday, it said in a statement it intended to "utilise the entire proceeds of the
proposed transaction to reduce its outstanding debt, and thereby deleverage its consolidated
balance sheet".

Tailwinds give Agarwal a reason to cheer

Govts removing hurdles from Vedanta projects but high debt worries investors
With the Vedanta group set to bid for the Union government's residual stake in Hindustan
Zinc (HZL) and Bharat Aluminium (Balco), and the Odisha government assuring bauxite to its
Lanjigarh aluminIum project, the tide is finally turning for Anil Agarwal, who till recently was
facing fire from the government and environmentalists.

Wipro sets up $100-mn VC fund to invest in start-ups

Driven by Rishad Premji, fund looking to invest in start-ups in data, open source, industrial
internet spaces
Following the footsteps of some of its global peers, India's third largest information technology
(IT) services company, Wipro, has set up a venture capital (VC) fund that will look at investing
in early-to-middle stage technology start-ups globally. According to highly-placed sources in the
know, the initiative is being driven by Chief Strategy Officer Rishad Premji, also the elder son
of Wipro chairman Azim Premji. The company has set aside an initial corpus of $100 million
(around Rs 600 crore) for the fund which has started exploring investment opportunities in startup companies which focus on niche technologies such as data, open source and industrial
internet, among others.

Wild Stone topples HUL's Axe in deo market

Wild Stone's brand size is expected to swell into about Rs 300 crore this financial year
WTO standoff: India may lose 'Peace Clause' if Bali pack fails

But New Delhi firm on trade pact stance

In its effort to safeguard the rights of its poor by blocking the World Trade Organization's
(WTO's) trade facilitation agreement (TFA), India might lose out on securing a deal on food
security, including the much-needed 'Peace Clause' agreed on during WTO's Ninth Ministerial
meeting in Bali, Indonesia. WTO members have threatened that if the so-called Balipackage gets
derailed, every single issue that was negotiated.

Gail signs MoU with Japan's Sumitomo Corp for LNG and petrochem

Both firms will work closely to bring LNG from US and would cooperate on businesses ranging
from upstream to downstream

After $1-bn fundraising, Flipkart now worth $7 bn

No plan for an IPO anytime soon; firm aims to enter $100-bn valuation club

Tata Group to invest $35 billion in 3 years

Vision 2025 to focus on four clusters; aim is to join the global club of top 25 companies

ITC net up 15.6% on agri, paper, cigarette sales

Cigarette segment saw an increase of 21.4% in pre-tax profit at Rs 2,721.75 cr

Govt may review global airline bilateral agreement method

To 'go slow' on talks till comprehensive parameters are reached for determining such pacts

Arvind Subramanian: A solution for the WTO

India is right to support its agriculture, but is going about it the wrong way

August too early for rate cut by central bank

Despite the consumer price index-based inflation rate having fallen to its lowest level since the
launch of the new series in January 2011, the Reserve Bank of India (RBI) is likely to go for the
status quo on repo rate in its monetary policy reviewon August 5, shows a poll conducted by
Business Standard among 10 market participants.

Divestment contenders beat Street

However, do not rush to buy such stocks; take a hard look at the fundamentals and treat each on
its merit.

Global sell-off sees markets, rupee fall

Sensex slumps 400 points; rupee falls to 4-mth low of 61.19/$

Tata Motors pins hopes on big trucks to get out of woods

India's largest truck maker reported Rs 34,288 cr net revenue in 2013-14 by selling, alongside
cars, 370,000 trucks in the year

Property mart: Budget brings cheer, but difficult times to stay

Within five days of the budget, the RBI brought in housing loans below Rs 50 lakh under priority
sector lending

India hopes WTO pact talks will be revived in September

DG Azevdo warns of 'significant consequences'

Govt to benefit $1.1 bn by promoting domestic solar manufacturing

While supporting domestic industry could result in moderately higher price of solar power in the
short run, the cost curve would fall in the medium term as scale and supply chains develop, says
ISMA - KPMG report