Newsmakers: Govt mulls 100% FDI in marketplace model of e-commerce and more

Govt mulling 100% FDI in market place model of e-commerce: The government is considering permitting 100 per cent FDI in the market place format of e-commerce retailing with a view to attract more foreign investments. The norms on foreign direct investment (FDI) in the sectors of e-commerce, and IT and ITeS are expected to be part of detailed guidelines, which would be rolled out soon by the government, sources said.

Sensex hits 21-month lows: Extending losses for the third day, the S&P BSE Sensex settled the day 262 points lower to slip below its key 24,000 mark in trade, while broader CNX Nifty ended just a tad above its key 7,200-mark. The benchmark indices fell to their lowest levels since May 2014, with State Bank of India leading the losses ahead of its financial results that are expected to disappoint just as other major state-run banks did this quarter.

Govt hikes import tariff value on gold and silver: The government hiked the import tariff value on gold to $388 per 10 grams and that on silver to $487 per kg taking cues from global market. For the first fortnight of this month, the import tariff value on gold was fixed at $363 per 10 gram and on silver was $443 per kg. The import tariff value is the base price at which the customs duty is determined to prevent under-invoicing.

Kwid spearheads Renault's expansion plans: French auto major Renault's Kwid which was launched four months back, has reportedly received an overwhelming response with more than one lakh bookings in the domestic market. The company is now banking upon Kwid to spearhead its expansion in the domestic and overseas market.

Govt stresses on waste management to achieve smart cities: Terming lack of proper urban planning as a "major" failure for the country, Union Minister Prakash Javadekar said the government will finalise comprehensive waste management rules next month to deal with the pressing problem. Addressing a Global Partnership Summit on Smart Cities, the Ministers rued that cities "have been converted into slums" in the last seven decades and said it is more challenging to transform them into smart cities then building new ones.