Top 10 business headlines: Drone policy 2.0, Amazon's India affair and more

Here are the top 10 business stories that made news on Tuesday

Goods delivery by drones gets closer to reality, updated policy unveiled

The government has proposed allowing delivery of goods by drones, paving the way for commercial applications in the field. In drone policy 2.0, unveiled on Tuesday, the government has proposed permitting their operations beyond the visual line of sight. Read on

HAL fights for indigenous HTT-40 trainer as IAF seeks Swiss Pilatus planes

In a coup for indigenisation, the Hindustan Turbo Trainer-40 (HTT-40) basic trainer aircraft, designed and built by Hindustan Aeronautics (HAL), has outperformed Indian Air Force’s (IAF’s) demanding specifications. The final qualifications — stall and spin tests — are proceeding well. Click here to read

Telcos may have to spend Rs 1.25 trn on court cases, stare at huge loss

An adverse fallout of litigation on many unresolved issues in the Indian telecom sector may cost service providers a fortune. They might have to fork out Rs 1.25 trillion to Rs 1.5 trillion in important cases pending in the country’s courts, especially the Supreme Court. Read on

IL&FS bows out, govt to invite tenders for Zojila tunnel for the third time

The Union government is set to invite tenders for a third time for its ambitious Zojila tunnel project in Jammu and Kashmir as crisis-hit Infrastructure Leasing & Financial Services (IL&FS) has surrendered the Rs 6,809-crore contract it bagged in 2017. Click here to read

Facing stiff rules, Amazon India may delay $1-bn investment plans for 2019

Jeff Bezos-led Amazon is likely to put any fresh investment on hold for the India business at least till the Lok Sabha elections are over and a new government is in place. Sources indicated that about $1 billion worth of investments could get stuck as Amazon India is facing stiff regulatory hurdles. Read on

Discount or not, go for sovereign gold bonds if you can wait till maturity

The new series of the Sovereign Gold Bond (SGB) scheme is open for subscription from January 14-18. The face value of the bond is Rs 3,214 per gram. If an investor makes an online payment, there's a Rs 50 discount and they could get each bond for Rs 3,164 a gram. Read on
 

December trade deficit lowest in FY19 as imports shrink to three-month low

The trade deficit in December last year fell to its lowest in the current fiscal year (2018-19 or FY19) as imports contracted for the first time. The effective trade deficit shrunk to $13.08 billion, lowest in FY19. It was $16.67 billion in November. Click here to read

Sonal Dabral, Reed Collins to head Ogilvy APAC’s team

WPP Plc, world’s largest communications group, on Tuesday announced that Sonal Dabral and Reed Collins will head its creative agency Ogilvy’s Asia Pacific (APAC) team. The duo takes over as Eugene Cheong steps down as Asia’s chief creative officer after a decade in the role. He will be transitioning to a new role at the agency, according to a Livemint report.

Provident funds face crores in losses from IL&FS

Provident and pension funds of thousands of middle-class salaried people face the spectre of losing thousands of crores of their nest egg as analysts estimate these funds’ investments in Infrastructure Leasing & Financial Services and group companies to be between Rs. 15,000 to Rs 20,000 crore, according to The Economic Times report.

Goals set under Saubhagya scheme have not been missed: Centre

The Centre claims it has not missed the goals that had been set under the Pradhan Mantri Sahaj Bijli Har Ghar Yojana – Saubhagya, according to The Hindu BusinessLine report. Instead, most of the reportedly unconnected households under the Saubhagya scheme in States such as Uttar Pradesh are those that were indulging in pilfering power, a top official in the Ministry of Power said.