Business highlights

Following are the top business stories at 1830 hours:

DCM1 BIZ-YEAR-SHIPPING India eyes 60 pc share of global ship recycling biz; higher GDP contribution: Mandaviya

New Delhi, Dec 25 (PTI) With a new legislation in place, India eyes to garner at least 60 per cent of the global ship recycling business and emerge as a key destination for recycling warships and other ships, according to Union Minister Mansukh Lal Mandaviya.

DCM6 BIZ-NCLAT-RELIANCE JIO NCLAT dismisses IT dept plea against Reliance Jio on demerger of tower, fiber units

New Delhi, Dec 25 (PTI) The NCLAT has dismissed petitions filed by the Income Tax Department, which raised objection over the approval granted to Reliance Jio Infocomm scheme to hive off its fiber and tower business into two separate units.

DCM2 BIZ-FDI-DPIIT-DIGITAL MEDIA DPIIT to soon issue clarification on 26 pc FDI in digital media sector

New Delhi, Dec 25 (PTI) The Department for Promotion of Industry and Internal Trade (DPIIT) is expected to soon issue a clarification on the issues raised by certain stakeholders over the government's decision to permit 26 per cent FDI in digital media sector, according to sources.

DCM4 BIZ-YEAR-DEALS Deal street gets deserted in 2019 as debt obligations cast shadow over M&As

New Delhi, Dec 25 (PTI) Merger and acquisitions seem to have become a big casualty of corporates' debt distress as India Inc learnt it hard way in 2019 that their first priority was to meet their loan repayment obligations and suitors from abroad also seemed reluctant in wooing distressed targets for any matchmaking.

DCM5 BIZ-YEAR-MUTUAL FUNDS Mutual funds add over Rs 4 lakh cr to asset base in 2019, expects momentum to continue in new year

New Delhi, Dec 25 (PTI) Mutual funds have added a staggering over Rs 4 lakh crore to their asset base in 2019 and the industry expects the growth trajectory to continue in the new year on the back of strong inflows in debt schemes and measures taken by regulator Sebi for boosting investors' confidence.

DCM15 BIZ-DISPUTE PANEL Govt constitutes expert panel to resolve oil, gas disputes

New Delhi, Dec 25 (PTI) With overhang of disputes choking investments in the oil and gas sector, the government has constituted an expert committee for time-bound resolution of exploration and production disputes without having to resort to tardy judicial process.