A look at the headlines in the sector right now:

  1. Spectrum auction ends with bids worth Rs 65,790 crore, only 40% of airwaves for sale bought: The figure is much below the government target of Rs 5.6 lakh crore, and unsold frequencies may be re-auctioned at a reduced price later.
  2. Flipkart claims it outdid Amazon in pre-Diwali sales: The Bengaluru-based company said it sold 15.5 million units in its five-day event, while the US-based e-commerce giant had said it had sold 15 million units.
  3. Reducing cash transactions in India can lead to Rs 70,000-crore savings in next five years, says Visa: A study by the payments gateway said the country’s economy has a high cost of cash because of factors like withdrawal charges and infrastructure maintenance.
  4. Canadian firm Brookfield to buy Hiranandani’s office, retail assets in Mumbai suburb for $1 billion: A spokesperson for the Indian real estate developer said the acquisition by the private equity company would take four to six months to complete.
  5. World predicts 5% reduction in remittances to India in 2016: The international bank’s report said India, which was ranked as the largest remittance recipient in 2015, may receive $65.5 billion (approximately Rs 6,550 crore) in remittances due to reduced economic growth in income-source countries and low oil prices.
  6. Anti-trade blacklash on international financial chiefs’ priority list: Financial representatives from the the world’s 20 major economies discussed measures to boost a sluggish global economy and ways to counter anti-trade backlashes at a conference, in the run-up to the annual International Monetary Fund and World Bank meetings. 
  7. Finance minister Arun Jaitley says the US presidential elections is a “worrisome situation for India’s economy”: Arun Jaitley said the upcoming election in America was a cause for concern, while dismissing the impact of Brexit as overstated.