Economy / Market Snapshot – December, 2020

General News

• Global CIVID-19 cases exceed 83.8 million; US most-affected in world as tally crosses 20.4 million-mark.
• India COVID-19 tally crosses 10.28 million, recovery rate improves to 96.07%.
• India reports 25 cases of new COVID-19 strain as UK returnees test positive.
• Centre issues 113 pages guidelines for COVID-19 vaccination drive; first Phase to include 30 crore people.
• Farmers’ protest: SC adjourns hearing, asks Govt to consider putting farm laws on hold.
• Opposition lead by Rahul Gandhi, Sharad Pawar meets President, seeks repeal of farm laws.
• Farmers’ protest: Centre agrees to 2 of 4 demands of protesting farmers; next round of talks on Jan 4.
• 9 states successfully completes ‘one nation one ration card’ reform.
• Winter Session of Parliament scrapped due to COVID-19, Budget Session to take place in January.
• UK PM Boris Johnson accepts India’s invite, will be Republic Day parade chief guest.
• UK Foreign Secretary Dominic Raab calls on PM Modi; discuss various facets of strategic partnership.
• India, Nepal discuss trade and investments, propose developing of cross-border economic zone.
• PM Modi speaks to Qatar Amir; task force to be set up to boost Qatari investments into India.
• Rajnath Singh calls for joint efforts against threats of ‘bio-terrorism’ at ASEAN Defence Ministers’ Meet.
• EAM Jaishankar meets business leaders in Qatar; highlights investment opportunities in India.
• Army chief Gen. Naravane holds talks with UAE and top Saudi Generals.
• Army Chief General MM Naravane meets South Korean top military brass to bolster military ties.
• India and Uzbekistan sign nine agreements to strengthen strategic partnership.
• India and Bangladesh seal 7 pacts to expand cooperation in diverse areas, restore a cross-border rail link.
• PM Modi inaugurates world’s largest renewable energy park at Khavda, meets Farmers in Kutch.
• PM launches Ayushman Bharat PM-JAY SEHAT to ensure universal health coverage to people of J&K.
• PM Modi flags off India’s first ever driverless train, launches National Common Mobility Card.
• Education Ministry sets up task force for preparing roadmap on technical education in mother tongue.
• JEE-Mains to be held four times every year from next year; First exam from 23rd to 26th of Feb.
• PM Modi releases postal stamp to mark centenary celebrations of Aligarh Muslim University.
• Cabinet approves merger of four government-run film and media units with NFDC.
• Amit Shah lays foundation stone of medical college, law colleges in Assam.
• J&K DDC polls: Farooq Abdullah-led Gupkar alliance wins big in Kashmir, BJP in Jammu.
• Suvendu Adhikari, 5 TMC MLAs join BJP at Amit Shah’s rally in Midnapore.
• Maharashtra MLC Election: NCP-Congress coalition wins four seats; BJP bags 1.
• Hyderabad civic polls: Ruling TRS wins 55 seats, followed by BJP with 48 seats and AIMIM by 44 seats.
• MP cabinet gives nod to Religious Freedom Bill, forced conversion will invite 10-year-jail term, penalty.
• Arya Rajendran becomes India’s youngest Mayor from Kerala’s Thiruvananthapuram.
• Tamil Nadu grants permission to hold Jallikattu with COVID-19 restrictions.
• Defence Ministry approves acquisition of military hardware worth ₹28,000 crore.
• Navy test-fires anti-ship version of BrahMos supersonic cruise & Prithvi-2 Nuclear capable ballistic missiles.
• ISRO Successfully Launches India’s 42nd Communication Satellite CMS-01 from Sriharikota.
• PM Modi lays foundation stone for new Parliament building.
• Bombay HC stays transfer of Kanjurmarg land for Mumbai metro car shed.
• Indo-Islamic Cultural Foundation (IICF) unveils design of mosque, hospital to be built in Ayodhya.
• Almost 1 billion vaccine doses secured for low- and middle-income countries: WHO.
• Britain first among countries which have begun vaccinating their people against the COVID.
• 137,000 people in UK receive COVID vaccine in 1st week; 1 million Americans vaccinated in 10 days.
• US Vice President Mike Pence, Joe Biden, Kamala Harris publicly receive COVID-19 vaccine shot.
• New strain of Coronavirus identified in UK triggers series of travel bans ahead of holiday season.
• U.S. Electoral College confirms Joe Biden’s win.
• Biden names Janet Yellen as Treasury Secretary and ex-general Lloyd Austin as secretary of defense.
• U.S. House approves $2,000 Coronavirus aid checks sought by Trump.
• US Senate passes bill eliminating per-country cap for employment immigrant visas.
• UK PM Boris Johnson signs EU-UK trade deal after MPs vote to pass agreement.
• UN Chief Antonio Guterres urges global summit to declare ‘climate emergency’.
• UN backs Afghan peace talks in resolution, Russia votes `no’.
• Nepal PM Oli dissolves Parliament amidst power tussle.
• Israeli parliament moves to dissolve government; to hold snap election in March, fourth in two years.
• China 2nd nation to plant flag on the Moon; Chang’e 5 capsule brings 1st new moon samples in 44 years.
• Lebanon PM, former ministers charged over Beirut port blast.
• Bangladesh ships Rohingya refugees to remote island despite outcry.
• Govt to include Gatka, Kalaripayattu, Thang-Ta and Mallakhamba in Khelo India Youth Games 2021.
• BCCI approves 10 teams from 2022 IPL; calls for cricket’s inclusion in 2028 Olympics.
• Chetan Sharma is BCCI’s new chairman of selectors; Abey Kuruvilla, Debashish Mohanty included in panel.
• India vs Australia: Aus win ODI series 2-1, India wins T20 series 2-1, 4 – match Test series levelled at 1-1.
• Virat Kohli becomes fastest cricketer to score 12000 ODI runs, beats Sachin Tendulkar’s record.
• ICC ODI rankings: Virat Kohli, Rohit Sharma retain top two spots; Bumrah sits on 3rd spot.
• Virat Kohli named ICC Male Cricketer of the Decade, honoured with Sir Garfield Sobers Award.
• Cristiano Ronaldo wins Player of the year and ‘Gives’ it to Robert Lewandowski in remarkable gesture.

Business News

• All 28 states and 3 Union Territories choose Option-1 to meet GST implementation shortfall.
• Govt releases 9th instalment of ₹6,000 crore loan to states to meet GST shortfall.
• Cabinet approves ₹3,500 crore subsidy for sugar farmers, 5 crore sugarcane farmers to benefit.
• Cabinet gives nod to next round of spectrum auction.
• Commerce Ministry and AYUSH Ministry decide to set up an AYUSH Export Promotion Council.
• Cabinet approves setting up of public WiFi networks under ‘PM-WiFi Access Network Interface’.
• I&B Ministry issues an advisory on advertisements on Online gaming, Fantasy sports.
• Nitin Gadkari inaugurates National Highway projects in Nagaland, Karnataka, Rajasthan and Assam.
• World Bank approves four India projects worth over $800 million.
• Centre and West Bengal sign $500 million project to build Green National Highway Corridors.
• Centre proposes mandatory airbag for front passenger on all cars.
• FASTag mandatory from February 15, toll collection through FASTag crosses ₹80 crore per day for first time.
• Centre proposes mandatory airbag for front passenger on all cars.
• India’s first indigenously developed 100 Octane premium petrol launched.
• Nitin Gadkari unveils Vedic Paint made from cow dung, says ‘will boost rural economy’.
• Govt shells out ₹22,087 crore as interest towards recap bonds for banks.
• Government issues zero-coupon bonds worth ₹5,500 to recapitalise Punjab and Sind Bank.
• RBI leaves the repo rate unchanged at 4%, maintains status quo.
• RTGS to be made available 24X7 in next few days: RBI Governor.
• RBI asks banks to not declare dividend for FY21; retain profit made in FY20.
• ₹200 crore Lucknow Municipal Corporation Bonds list successfully on the BSE.
• Quick restaurant chain Burger King India, Mrs Bectors Food Specialities make their stock market debut.
• Kotak Mutual Fund launches India’s first international REIT fund of funds.
• Pfizer/BioNTech wins the global COVID vaccine race, vaccine rolled out first in UK.
• Aurobindo Pharma to make COVAXX’s potential COVID-19 vaccine for India, UNICEF.
• India’s first indigenous mRNA vaccine candidate receives approval to initiate human clinical trials.
• India to produce 300 million doses of Russian Sputnik V coronavirus vaccine in 2021
• UK, EU finalise post-Brexit trade deal after 10 months of negotiation; set to enter force on January 1.
• Bangladesh signs Preferential Trade Agreement (PTA) with Bhutan, its first since independence.
• Cuba to devaluate currency from January; peg exchange rate at 24 pesos per US dollar.
• Iraq’s Central Bank devalues Dinar by 22% to push Economy forward ahead of deficit.
• Bitcoin on a record breaking spree, breaches $27,000 to set all-time record high.
• OPEC+ agrees to increase output by 500,000 barrels a day in Jan 2021.
• Airtel, Nokia ink pact for 5G network rollout in Kenya.
• Nokia starts production of next generation 5G equipment at Chennai facility.
• US FCC orders carriers to remove Huawei equipment, starts proceeding to revoke China Telecom’s permit.
• Germany gives nod to Huawei to build 5G networks with security regulations.
• Audi begins manufacturing of A4 facelift in India; launch in early 2021.
• Fiat Chrysler to invest $150 million to set up Global Digital Hub in Hyderabad.
• Bajaj Auto signs MoU with Maharashtra govt to set up new manufacturing unit in Chakan.
• Amazon, Blackberry team up to create cloud-based vehicle software platform IVY.
• Infosys announces long-term strategic partnership with Daimler AG.
• Wipro inks $700 million digital & IT deal with German company METRO AG.
• Salesforce acquires Slack for $27.7 billion in its largest acquisition ever.
• Boeing’s updated 737 MAX completes first flight with media onboard.
• Ryanair buys 75 Boeing MAX jets in largest order since grounding.
• US lawmakers back $15 billion in airline payroll assistance.
• Lockheed Martin inks $4.4 billion deal to acquire Aerojet Rocketdyne.
• Boeing 737 MAX deemed safe to fly by European Union Aviation Safety Agency.
• Infosys, Rolls-Royce ink strategic partnership for aerospace engineering in India.
• Reliance to buy out IMG Worldwide from sports management joint venture for ₹52.08 crore.
• Alibaba hikes share buyback plan to $10 billion from $6 billion.
• Amazon, Amex, Daimler AG and Stripe join to Fund Software Developers in New GitHub Program.
• Sony to buy anime streaming service Crunchyroll from AT&T for $1.175 billion.
• Swiggy partners with PM’s AtmaNibhar Nidhi to bring over 36,000 street food vendors online.
• Reddit buys TikTok rival Dubsmash, to allow users to upload and stream short-form videos.
• Facebook launches collaborative music video app Collab for iOS users.
• Sony, Microsoft and Nintendo collaborate on shared safety standards for online gaming.
• CCI initiates investigation against cement companies over alleged anti-competitive behaviour.
• SC rejects Vedanta’s interim plea to inspect, operate closed Sterlite copper unit at Tuticorin.
• Nirav Modi’s remand extended by London court; final hearings in 2021.
• Vijay Mallya’s assets in France worth €1.6 million seized by ED.
• Delhi High Court dismisses Future Group plea against Amazon in $3.4 billion asset sale.
• French watchdog fines Google €100 million and Amazon €35 million over cookies law breach.
• Cairn wins arbitration in tax dispute; India asked to pay $1.2 billion in damages.
• China launches antitrust probe into tech giant Alibaba.
• IBM agrees to pay $24.25 million to resolve FCC probes over subsidies.
• UAE’s Lulu group to set up food processing centre in Jammu and Kashmir.
• SBI along with NPCI, Japan’s JCB launch contactless debit card.
• GoDaddy acquires US-based payment processor Poynt for $365 million.
• Ola to invest ₹2,400 crores to set up ‘the world’s largest scooter factory’ in Tamil Nadu.
• Star and Disney India’s Uday Shankar to take over as FICCI President for 2020-21.
• Uday Kotak to head Kotak Mahindra Bank for another 3 years.
• Flipkart board rejig: CEO Kalyan Krishnamurthy, HDFC’s Keki Mistry to join; Steuart Walton, 3 others exit.
• United Spirits names Hina Nagarajan as MD and CEO.