1. Oil Prices Sink 5% as Quick Saudi Output Recovery SeenOil prices sank five percent on Tuesday, reversing some of the previous day's gains as analysts predicted Saudi output would recover sooner than expected after weekend drone attacks.In the space of several minutes in afternoon European trading, North Sea Brent crude oil for delivery in November tumbled from $67.75 to $65.00. It fell as low as $64.24, before recovering somewhat.(Source: Livemint)2. SEBI Bars Gautam Thapar From Accessing MarketsThe markets regulator on Tuesday barred Gautam Thapar, former chairman of CG Power and Industrial Solutions Ltd, and three former officials of the company from the securities market, after a preliminary probe found them guilty of various irregularities.The Securities and Exchange Board of India (Sebi) also asked BSE to appoint an independent auditor to conduct a forensic audit of the books of CG Power beginning 2015-16 and report in six months.(Source: Livemint)QBiz: RBI Guv on 5% Growth; Air India Raises Rs 7,000 Cr Via Bond3. A Lost Year for Markets as All 2019 Gains ErasedIndian stocks fell amid fears that surging crude prices will intensify an economic slowdown even as Asia’s third-largest economy, which imports most of its oil, stepped up efforts to secure supplies after the disruptions caused by last week’s drone attacks in Saudi Arabia.A fragile global economy and escalating geopolitical tensions in West Asia added to the bearish sentiment, with the benchmark BSE Sensex plunging 642.22 points, or 1.73%, to 36,481.09 on Tuesday.(Source: Livemint)4. GST Council May Rationalise Rates for Five-Star Hotels in Friday MeetingThe Goods and Services Tax (GST) Council is likely rationalise rates for five-star hotels in its meeting on Friday, holding out hopes for a boost to the tourism industry. The fitment panel, comprising Central and state officials, recommended a rate cut for outdoor catering and rate rationalisation for match sticks in its final agenda circulated to the council members.The panel also favoured rate cuts for small items such as cups and plates.(Source: Business Standard)5. Blackstone Group, Salapuria Sattva to Buy Coffee Day's Tech ParkBlackstone Group along with Salapuria Sattva Group has signed a definitive agreement to purchase the Global Village TechPark of debt-laden Coffee Day Enterprises' subsidiary Tanglin Development Ltd at an enterprise value of Rs. 2,700 crore."The board has approved and the company has executed the definitive agreements with entities belonging to Blackstone Group and the Salarpuria Sattva Group for investment in GV Techparks Private Ltd, a wholly-owned subsidiary of Tanglin Development Ltd ("TDL"). The completion of the transaction is dependent on the transfer of Global Village TechPark asset from TDL to GV Techpark Private Ltd," Coffee Day Enterprises said in a statement.(Source: NDTV)6. 5G Spectrum Offer May Shrink as Defence Ministry Refuses to Give Away ShareThe quantum of airwaves to be offered for the 5G spectrum may shrink further as the defence ministry has refused to part with its share of 100MHz spectrum, reducing the total 5G airwaves to 175 MW. This is nearly 60 per cent of what was proposed earlier. This may force mobile service companies to stay away from the bidding process.It is learnt that the defence ministry is refusing to let go of its 100 MHz spectrum, which was allotted earlier.(Source: Business Standard)7. WeWork IPO Shelved, $2.75-Bn India Unit Deal Faces DelaysWe Co.’s decision to postpone its much-awaited initial public offering (IPO) will also likely delay a plan to acquire majority control of its Indian affiliate to next year, said two people familiar with the development.Earlier this year, We Co. offered to buy a 70% stake in WeWork India in a cash and stock deal valued at $2.75 billion, three years after it entered the country through a brand franchise agreement.(Source: Livemint)QBiz: Fresh Measures to Boost Economy; August Exports Decline 6% 8. Debt Woes Worsening Despite RBI Rate CutsIndian companies’ ability to pay interest on loans worsened despite successive rate cuts by the central bank, a Mint analysis showed, thanks to higher debt levels, changes in accounting methods and sticky bank lending rates.The interest coverage ratio (ICR), which measures the ability of businesses to pay interest on their loans, fell to a 13-quarter low in the June quarter, against the backdrop of slowing sales and profit growth.(Source: Livemint)9. Static WPI Inflation Adds to Slowdown WorriesIndia’s wholesale price index (WPI)-based inflation remained unchanged at 1.08% in August as inflation for manufactured items fell to 0%. Mint takes a look at the reasons behind this trend and its implications for the Reserve Bank of India’s (RBI) monetary policy.(Source: Livemint)QBiz: Ford Motor May Sell Gujarat Factory; Airfares to Rise 7-9% We'll get through this! 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