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Top news of Sep 2: Govt mulls relief measures for telcos, August sees highest IPO filings in 17 yrs and more

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Top news of Sep 2: Govt mulls relief measures for telcos, August sees highest IPO filings in 17 yrs and more

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Top news of Sep 2: Govt mulls relief measures for telcos, August sees highest IPO filings in 17 yrs and more
Kumar Mangalam Birla met with the Telecom Minister Ashwini Vaishnaw to discuss the health of the telecom sector and request government intervention. As many as 29 companies filed IPO papers with the markets regulator SEBI in August 2021. McDonald’s infamous broken ice cream machines have become pseudo icons in their own right in the US. For all these stories and everything in between, here are some top news of the day.
BUSINESS
Kumar Mangalam Birla meets Telecom Minister to discuss need for urgent govt intervention in sector 
Kumar Mangalam Birla, the chairman of Aditya Birla Group met with the Telecom Minister Ashwini Vaishnaw to discuss the health of the telecom sector and request government intervention. According to sources, the government is considering demands for relief measures, not company-specific though, sector-specific. Find more details here.
Jet Airways Kalrock-Jalan resolution plan: PNB alleges gross irregularity in conduct 
Punjab National Bank on Thursday alleged gross irregularity in the conduct of the resolution professional (RP) while seeking a stay of Kalrock-Jalan plan in the Jet Airways Insolvency and Bankruptcy Code (IBC) case. For more information, click here.
Is Infosys buyback coming to a close? 
Infosys has bought back over 5.41 crore shares as of September 21. While the average price is unknown, the board range commenced with levels of Rs 1,550 and went all the way up to Rs 1,700-mark last week. Is it coming to a close now?

MARKETS
At 29, August records a 17-year high in IPO filings  
As many as 29 companies filed IPO papers with the markets regulator SEBI in August 2021. This is the highest number of companies filing papers for public issues in the last 17 years. Find more here.
IPO subscription day 2 -  Vijaya Diagnostics and Ami Organics
The public offering of Vijaya Diagnostics was subscribed 47 percent on Thursday. Meanwhile, Ami Organics' initial public offer was subscribed nearly four times.
FMCG index hits record high: Key triggers behind the move
The FMCG index closed at a record high of 40,292 on Thursday in what analysts call is a catch-up rally. Catch up rally because the index has surged over 30 percent in the past year while the Nifty50 index is up almost 50 percent. So the FMCG giants that were sleeping earlier seem to have wakened up. Find out more.

YOU & ME
EPF contributions exceeding Rs 2.5 lakh? You will have two PF accounts from FY 2021-22
If your contribution to EPF exceeds Rs 2.5 lakh in a financial year, you will be required to maintain two separate accounts beginning this fiscal i.e FY 2021-22. The rules have been updated by the Central Board of Direct Taxes (CBDT). Find out more.
Why McDonald’s ice cream machines are always broken?
McDonald’s infamous broken ice cream machines have become pseudo icons in their own right in the US. The United States Federal Trade Commission (FTC) is now contacting McDonald’s franchisees over information regarding the broken ice cream machines. Continue Reading

INTERNATIONAL
OPEC+ sticks to gradual oil output hikes, ups demand forecast
OPEC and its allies on Wednesday agreed to stick to their existing policy of gradual oil output increases, despite revising its 2022 demand outlook upwards and ongoing US pressure to raise production more quickly. Continue Reading
WHO launches hub in Berlin to help prevent future pandemics
The hub is meant to promote more effective data collection, information-sharing and analysis, leading to better and more coherent decision-making after the patchy global response to the COVID-19 pandemic. Continue Reading
Chinese regulators raise concerns with ride-hailing firms
At the meeting held on Wednesday, authorities highlighted the hiring of unqualified drivers and the use of promotions that disrupt fair market order, the ministry said in a statement. Continue Reading
 
INDIA
DGCI gives nod for trials of Biological E's COVID-19 vaccine on kids aged between 5 & 18
The trial will be conducted across 10 sites in the country. The DCGI's permission was given based on the recommendations by the Subject Expert Committee (SEC) on COVID-19. Continue Reading
India, UK sign up to new climate finance initiative
The Indian and UK governments have agreed on a new tie-up to finance inclusive, resilient and sustainable infrastructure in India by harnessing public and private capital to meet the country's low-carbon goals. Continue Reading
Afghanistan soil shouldn’t be used for terrorist activities,’ India conveys at 1st meeting with Taliban
Two days after India’s first formal meeting with the Taliban post its seizure of Afghanistan, the Ministry of External Affairs on Thursday said India's immediate focus is to ensure that Afghan soil is not used for terrorist activities directed against it. Continue Reading

 
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