The business wrap: Markets surge as RBI begins monetary policy review meet, and 6 other top stories
Other headlines: Fitch Ratings downgraded India’s GDP forecast for 2017-’18 to 6.9%, and Google scrapped a policy that affected websites with a paywall.
A look at the headlines in this sector right now:
- Sensex closes 213 points up, Nifty at 9,859 ahead of RBI monetary policy review: However, shares of Anil Ambani’s Reliance Communications ended at an all-time low after the company called off its merger with Aircel.
- Fitch Ratings cuts India’s GDP forecast for 2017-’18 to 6.9%: However, the agency expects economic growth, which slowed in the April-June quarter, to pick up in the second half of the financial year.
- Google scraps policy that made it mandatory for publishers to offer three free articles a day: Websites that use a paywall now have the freedom to decide how many articles non-paying visitors can have access to.
- RBI will begin to print new Rs 100 notes in April 2018: Unidentified officials said the redesigned currency will start being printed after presses finish with the new Rs 200 bills by March 2018.
- Britain’s Monarch Airlines collapses, one lakh tourists stranded abroad: The company’s finances deteriorated in 2016, after security concerns deterred travel to Tunisia, Turkey and Egypt.
- Divisive ads reached 10 million people before and after US presidential elections, says Facebook: The social media company submitted more than 3,000 advertisements, that were paid for by a Russian agency, to the United States Congress on Monday.
- Ola raises $2 billion in funding from SoftBank, Tencent Holdings: Unidentified officials said the latest round of also financing included a venture capital fund run jointly by Ratan Tata and the University of California’s investment arm.