New Delhi: Petroleum is the taxation milch cow for the central and the state governments and it is unlikely to be brought under the Goods and Services Tax (GST) any time soon. That’s also the view of the Vice Chairman of Niti Aayog, Rajiv Kumar. Several senior ministers have demanded[Read More…]
Chennai: The Parliamentary Standing Committee on Finance will be awarded the Sansad Ratna Award 2018 for its outstanding performance, a top official said on Monday. We have decided to honour Departmentally Related Standing Committees with Sansad Ratna Award based on the criteria like the reports presented, numbers of sittings and[Read More…]
Mumbai: High crude oil prices along with a persistent outflow of foreign funds from the country’s equity and debt markets and formation of a non-BJP government in Karnataka weakened the Indian rupee to 68.43 per US dollar. Consequently, the Indian rupee weakened by 38 paise against the US dollar to[Read More…]
New Delhi: With transport fuel prices in Delhi touching an all-time high, industry chambers, Ficci and Assocham, on Monday called for the government to urgently reduce fuel excise duties. It also urged the government to bring automobile fuels under the purview of Goods and Services Tax (GST). The price of[Read More…]
Mumbai: Uncertainty over government-formation in Karnataka, along with weak global cues, suppressed the key Indian equity indices on Wednesday afternoon. No party achieved a clear majority in the election results announced on Tuesday, leading to uncertainty over the formation of the next government. According to market analysts, heavy selling pressure[Read More…]
Bhubaneswar: The Odisha government on Sunday signed a MoU with Tata Trusts, Mumbai to set up a state-of-the-art Cancer Treatment and Research Hospital in Bhubaneswar. The MoU was signed in the presence of Chief Minister Naveen Patnaik and Tata Trusts Chairman Ratan N. Tata. As part of the MoU, Tata[Read More…]
San Francisco: Showing his concern about the threat to the insurance industry, CEO of multinational conglomerate Berkshire Hathaway Warren Buffett has said that cybersecurity risks will get worse in the years to come. “Cyber is uncharted territory. It’s going to get worse, not better,” CNBC quoted Buffett as saying at[Read More…]
Mumbai: Business tycoon and Reliance Industries Chairman Mukesh Ambani and Nita Ambani’s daughter Isha will tie the knot with Anand Piramal, son of corporate magnates Ajay Piramal and Swati Piramal, in December this year, family sources said on Sunday. Anand and Isha have been long-time friends and both the families[Read More…]
New York: US billionaire investor Warren Buffett said on Saturday that the world depends on the US and China for progress, dismissing concerns that the two countries’ trade tensions could potentially escalate into a trade war. Buffett, chairman and CEO of Berkshire Hathaway, made the remarks in response to a Chinese[Read More…]
San Francisco: Facebook has announced a new tool for website owners and developers that will alert them about phishing attacks on their platforms. “We are extending the capabilities of our ‘Certificate Transparency Monitoring’ tool to make it easier for developers to learn about new domains that are maliciously created to[Read More…]
London: Cambridge Analytica, the political consultancy firm at the centre of the Facebook data-sharing scandal, is shutting down, media reported. The firm was accused of improperly obtaining personal information on behalf of political clients. According to Facebook, data of up to 87 million of its users were harvested by a[Read More…]
San Francisco: Aiming to ramp up its production targets to 5,000 cars a week, Elon Musk-run Tesla has reported revenue of $3.4 billion for the first quarter of 2018, saying that Model 3 production hit 2,270 a week in April. Tesla’s cash balance dropped but the US-based electric vehicle automaker[Read More…]
New Delhi: Most Indian industry sectors have reported negative growth in deployment of gross bank credit, a fallout of banks’ inability to lend being saddled with mammoth non-performing assets (NPA), or bad loans, coupled with lack of appetite for fresh investment by highly indebted corporate India, industry body Assocham said on[Read More…]
Kolkata: West Bengal Finance Minister Amit Mitra has urged Union Finance Minister Arun Jaitley not to shift the headquarters of National Insurance Company from the city as a part of a proposed merger of public sector general insurance companies. In a communication to Jaitley, he also said any move to shift[Read More…]
New Delhi: Despite the 2019 general elections, almost 56 per cent of Indian business leaders are more interested in overseas dealmaking in the coming 12 months than they were in the past year, a survey said here on Friday. According to Baker McKenzie’s Doing Business Globally survey, while only 11 per[Read More…]
Moscow/New Delhi: Twitter has banned Russia-based cybersecurity firm Kaspersky Lab from advertising on its platform, stating that the company “operates using a business model that inherently conflicts with acceptable Twitter Ads business practices.” In an open letter to Twitter CEO Jack Dorsey, Kaspersky Lab’s Founder Eugene Kaspersky has termed the[Read More…]
New Delhi: At a time when the banking sector in the going through a topsy-turvy phase, the TRA Brand Trust Report 2018 on Wednesday said the State Bank of India was the most trusted bank (both public and private sector) in the country and ICICI Bank topped the chart among the[Read More…]
Mumbai: Samsung is the most trusted brand in India followed by Sony and LG, the TRAs Brand Trust Report 2018 said here on Tuesday. Patanjali topped among the fast moving capital goods (FMCG) companies. “Samsung leads the list second year in a row to become India’s most trusted brand. Sony and[Read More…]
New Delhi: A parliamentary panel has called RBI Governor Urjit Patel on May 17 to answer queries on banking frauds and the powers that the central bank needs for better regulation of public sector banks (PSBs). Sources said the decision was taken at a meeting of the Standing Committee on Finance,[Read More…]
Amethi: With ATMs suddenly running dry in several states, Congress President Rahul Gandhi on Tuesday slammed Prime Minister Narendra Modi for what he described as destroying India’s banking system by ushering in “acchhe din” for fugitive jewellers Nirav Modi and Mehul Choksi. Gandhi also criticised Modi for his silence on[Read More…]
New Delhi: Allaying fears of currency shortage in the country, Finance Minister Arun Jaitley on Tuesday said the government has reviewed the situation and “there is more than adequate currency in circulation”. “Have reviewed the currency situation in the country. Overall there is more than adequate currency in circulation and[Read More…]
New Delhi: The CBI is probing another loan of Rs 5,280 crore taken by diamond trader Mehul Choksi and his companies from a consortium of 31 banks led by ICICI Bank, informed sources said. The probe is part of the existing FIR filed against Choksi and his Gitanjali Group of companies,[Read More…]
Mumbai: Securities markets regulator Sebi on Tuesday said that investments made by two or more foreign entities with a “a common beneficial” owner will be treated as a single FPI entry. The regulator said this in a circular “clarification on clubbing of investment limits of foreign government or foreign government related[Read More…]
New Delhi: Encouraged by the success of its inter-state implementation, the e-Way bill system for intra-state movement of goods will be implemented for Uttar Pradesh, Gujarat, Andhra Pradesh, Telangana and Kerala from April 15, the government said on Tuesday. The e-Way Bill system for all inter-state movement of goods was[Read More…]
New Delhi: Decrying the economic orthodoxy in India handed down from Europe of cutting fiscal deficits to balance budgets, Niti Aayog Vice Chairman Rajiv Kumar on Sunday called for new definitions to be adopted for government expenditure and described as fallacious the comparisons made between household and national budgets. Speaking at[Read More…]
