TN, Telangana, MP to issue UDAY bonds worth Rs 18,107 crore"

 Madhya Pradesh, Tamil Nadu and Telangana will issue UDAY bonds on a private placement basis to raise a total of Rs 18,107.93 crore. The scheme has been introduced by the government to bail out loss making power utilities. Break-up wise, Tamil Nadu will offer securities worth Rs 8,815 crore under the Ujjwal Discom Assurance Yojana (UDAY) scheme; Madhya Pradesh Rs 7,360 crore and Telangana Rs 1,932.93 crore. 

Unhappy with company's strategies, Uber President Jeff Jones steps down 

Ridesharing giant Uber took another hit with the departure of its president, Jeff Jones, after just six months, US media reported Sunday. Jones' departure comes after a series of difficulties at Uber, Recode and The Wall Street Journal reported. According to Recode, Jones had voiced dissatisfaction with the company's strategies. Reached by AFP, Uber would not conform the report as of late Sunday. "It is now clear, however, that the beliefs and approach to leadership that have guided my career are inconsistent with what I saw and experienced at Uber, and I can no longer continue as president of the ridesharing business," he said in a statement to Recode. Uber CEO Trevor Kalanick had asked for his resignation. 

Trump administration backs India's NSG bid 

The Donald Trump administration has finally endorsed India for a Nuclear Suppliers Group (NSG) membership alongwith two other export control groups namely Australia Group and Wassenar Group. The bid to make India a part of NSG was initiated by the Obama administration and a draft was circulated among the group members last year. A report in the Economic Times mentions that a US State Department official said that India is ready for NSG membership and also assured that US has not changed its stance on the matter under the new government. The remarks comes just ahead of the US Secretary of State Rex Tillerson’s visit to China, which has been India’s biggest hurdle in getting a seat in the exclusive club. However, it is unclear whether Tillerson will discuss the NSG during his trip. Despite numerous efforts on the government’s part and constant support from the former US President Barack Obama, China has opposed India becoming a part of NSG.

Oil extends gains as dollar and US inventories fall 

Brent crude oil was up 38 cents at $52.19 a barrel by 1050 GMT, recovering from Tuesday's slide to $50.25, its lowest level since November 30. Oil extends gains as dollar and US inventories fall" Oil prices rose for a second day on Thursday, supported by U.S. data showing crude inventories had dipped after rising for nine weeks and a weaker dollar after the U.S. Federal Reserve signalled it would not hike rates faster than expected. Brent crude oil was up 38 cents at $52.19 a barrel by 1050 GMT, recovering from Tuesday's slide to $50.25, its lowest level since November 30 when the Organization of the Petroleum Exporting Countries announced plans to cut supplies. U.S. light crude oil was up 37 cents at $49.23 a barrel, also climbing from a three-month low. The rebound has been cautious, with investors looking for evidence that OPEC-led supply cuts will bring a sustained drawdown in stockpiles since OPEC and non-OPEC producers began cutting back output on Jan. 1. "The dollar is weaker due to the U.S. Fed. I don’t think it is going to be enough to bring some follow-through buying to crude oil. We need something more substantial," said Olivier Jakob of Swiss consultancy Petromatrix.

Cong to move adjournment motion in Lok Sabha over govt formation

 Sources said that the leader of Congress in the lower house, Mallikarjun Kharge, along with some other party MPs, will move the motion while seeking to raise the issue and demand a discussion on it. The issue of government formation in Goa and Manipur is set to rock the Lok Sabha with the Congress deciding to move an adjournement motion today. Sources said that the leader of Congress in the lower house, Mallikarjun Kharge, along with some other party MPs, will move the motion while seeking to raise the issue and demand a discussion on it. The Congress has alleged that the BJP is moving against the law and precedent in forming their governments in Goa and Manipur, saying they are the single largest party in both states. In Goa, the Congress has 17 legislators followed by BJP with 13, Goa Forward Party and MGP with three each, three independents and NCP (one). The party has won 28 seats in Manipur while the BJP has secured 21. The NPP and the NPF have won four seats each, with the LJP and the Trinamool Congress bagging one seat each. 

Oil hovers near three-month lows as investors await data

 US West Texas Intermediate crude (WTI) edged down 3 cents to USD48.37 a barrel by 0026 GMT. The contract ended down 9 cents in the previous session after touching USD47.90, the lowest since the end of November. Crude oil prices hovered near three-month lows on Tuesday in early Asian trading as investors await key reports and data that may shed light on a supply overhang in the global market. US West Texas Intermediate crude (WTI) edged down 3 cents to USD48.37 a barrel by 0026 GMT. The contract ended down 9 cents in the previous session after touching USD47.90, the lowest since the end of November.Brent crude futures were down 1 cent at USD51.34 a barrel, having settled down 2 cents on Monday after dipping to as low as USD50.85. Prices fell sharply last week as investors worried that swelling US crude supplies would hinder OPEC's efforts to restrict output and reduce a global glut. 

Disappointed with performance, time to introspect: AAP 

 The AAP today said it is disappointed with its performance in Punjab and Goa and will introspect on the reasons behind it. The AAP today said it is disappointed with its performance in Punjab and Goa and will introspect on the reasons behind it. As per the counting trends, the party was not doing well in Punjab, where it was seen as an alternative to the Akalis and the Congress, and Goa, where it hoped to put up a spirited fight. "We are disappointed with the results. We will introspect on the reasons behind the (poor) performance," senior AAP leader Ashutosh said. AAP leader and Delhi minister Kapil Mishra said the party had not expected such results in Punjab and Goa.