The business wrap: Sensex falls nearly 700 points after dollar rebounds, and six other top stories
The Centre imposed a distance-based levy on domestic flights, and the IMF said the government’s demonetisation needed to be executed prudently.
A look at the headlines in this sector right now:
- Sensex falls nearly 700 points, Nifty by 229 after dollar rise, demonetisation: Markets also reacted to reports that the US Federal Reserve could hike its policy rates in December.
- Airlines will now have to pay extra tax between Rs 7,500 and Rs 8,500 for domestic flights: The Centre’s move is an attempt towards raising money to fund subsidised travel between regional airports.
- International Monetary Fund advises caution while supporting India’s demonetisation exercise: The organisation said the transistion must be executed ‘prudently’ to ensure ‘minimum disruption’.
- Governments have power to impose entry tax on goods from other states, says Supreme Court: The apex court listed several tests to ascertain if a local law was valid.
- Vijay Mallya declared an absconder by Mumbai court: The Enforcement Directorate had filed a plea saying the move would enable them to attach his movable properties.
- Mahindra and Mahindra appoints Anand Mahindra as executive chairman for five-year term: The company reported a 27% rise in its second quarter profits to Rs 1,163.27 crore.
- WhatsApp introduces two-step verification security feature in Android, Windows beta apps: The optional feature will allow users to create a six-digit passcode that will need to be used when setting up an account on a different device.