RBI keeps repo rate at 6%
The Reserve Bank of India (RBI) has held the policy repo rate at 6% as the central bank's Monetary Policy Committee (MPC) raised the estimate for fourth-quarter inflation and flagged concerns about the future outlook for price gains. While holding interest rates the central bank also retained its 'neutral' policy stance.
Auto Expo 2018: Kia unveils SP Concept SUV for Indian market
South Korean automaker Kia Motors unveiled new SP Concept, which made its public world premiere at the ongoing AutoExpo 2018, alongside a showcase of 16 global models. Kia will kick off its retail sales in India in the second half of the next year. The company said that it would introduce a range of vehicles, including an India-exclusive compact electric vehicle in the country between 2019 and 2021.
Auto Expo 2018: Honda unveils new Amaze, Civic, CR-V
Japanese auto major Honda Cars India Ltd (HCIL) on Wednesday unveiled three new products, including a next generation version of its entry-level sedan, the all new Amaze at the Auto Expo 2018. This is the world premiere of the 2nd Generation Honda Amaze and the car will hit the market during the fiscal year 2018-2019.
Cryptocurrencies likely to fail: Goldman Sachs
Most cryptocurrencies are likely to fail with their value falling to zero, Goldman Sachs said in a note. It compared the current market to the "internet bubble of the late 1990s." According to a report by CNBC, Steve Strongin, head of Goldman Sachs global investment research, said in a note, that cryptocurrencies don't have "intrinsic value" adding that it's "unlikely" whether any of today's digital currencies are likely to survive in the long run.Goldman has previously poured cold water on cryptocurrencies as an investment. In October, the investment bank released a note saying that bitcoin is not the new gold.
Regulator tweaks insolvency rules to raise bid value
The insolvency regulator has amended rules to prevent low bidding for stressed assets being restructured through the National Company Law Tribunal (NCLT). Through a notification, the Insolvency and Bankruptcy Board of India also shortened the period for resolution professionals to present a resolution plan to NCLT from the present 270 days to 255 days.
Toyota seeks India sales boost
Toyota Motor Corp will bring to India models with global specifications as reported by Reuters. The company seeks to boost sales in the world's fifth largest passenger car market by appealing to buyers' increasingly aspirational tastes. Toyota has now set its sights on the higher-end of the market, joining other automakers such Ford Motor Co, Fiat Chrysler Automobiles-owned Jeep and Renault SA targeting an expanding, affluent middle class willing to spend on premium cars