Abhishek Boinpally who was allegedly lobbying for certain liquor businessmen based in southern India was called for questioning on Sunday.
"Reaching an international agreement on how large digital companies are taxed has been a priority for the chancellor since he took office," said a spokesperson for his UK treasury office. "The chancellor's consistent position has been that it matters where tax is paid, and any agreement must ensure digital businesses pay tax in the UK that reflects their economic activities. That is what our taxpayers would expect and is the right thing," the spokesperson said.
Gold import from the UAE at a lower rate of duty -- in terms of an agreement -- has posed a survival challenge for the Indian refining industry while hurting the price discovery of the metal, with the India International Bullion Exchange starting operations at GIFT City. The problem has arisen after the government signed the Comprehensive Economic Partnership Agreement (CEPA) with the UAE. Under it, Indian jewellery manufacturers have been allowed to import gold at a concessional rate of 14 per cent against 15 per cent, which is normal.
Sources said the railways is keen to ensure that a purely domestic entity bags the tender and once it was felt that the Chinese JV was a frontrunner for the project, it was scrapped.
The gau rakshak stated that the famine-stricken people were suffering because of their past karma and nothing could be done for them. The reply apparently infuriated Vivekananda, who told the gau rakshak bluntly that he had no sympathy to spare for societies which would not lift a finger to help human beings but wasted piles of food on birds and beasts. A fascinating excerpt from Govind Krishnan V's book, Vivekananda The Philosopher of Freedom.
According to sources, the two fund managers allegedly made illicit gains worth Rs 150 crore to Rs 200 crore through front-running.
The Congress on Sunday gave a call to party leaders in poll-bound states to work with unity to ensure victory that will 'set the tone' for 2024 Lok Sabha polls even as it showed willingness to forge an alliance of 'like-minded' parties.
The smartphone category as a whole was expected to spend around Rs 1,000 crore on marketing and promotional activities over the next six months, even as India unlocks gradually, said media industry experts. This spending is expected to come down, as firms temper their launches.
New proposals like booking of retailers selling loose cigarettes and 7 years of imprisonment, are unacceptable, traders argued.
The Supreme Court of India on Wednesday said it would consider a plea for early listing of petitions challenging the Centre's decision to abrogate provisions of Article 370 which had given special status to Jammu and Kashmir.
Such campaigns would badly affect players in the traditional retail market.
Equity benchmark Sensex rallied 515 points on Thursday to reclaim the 59,000-level, propelled by heavy buying in IT, banking and financial stocks amid sustained foreign fund inflows. The 30-share BSE index ended 515.31 points or 0.88 per cent higher at 59,332.60. Similarly, the broader NSE Nifty gained 124.25 points or 124.25 per cent to close at 17,659.
'The correction could take two to three months and traders need to be careful.' 'For investors, this could be a good time to nibble in.'
Sales of gold coins and bars should be curbed after reaching around 300 tonnes
His advice was to always start with small positions because we are bound to make mistakes; and remain humble because the markets can be merciless, remembers Debashis Basu.
Shares of most of the Adani group firms ended lower on Monday, with the group companies' combined mcap witnessing a sharp fall of Rs 9.5 lakh crore after US-based short-seller Hindenburg Research's adverse report.
India's wheat exports could touch a new record of 10 million tonnes in 2022-23, up from a record seven million tonnes in the current financial year, if global market conditions remain choppy and no curbs are imposed on outbound shipments. That is the bullish estimate by officials from global trading firms and market watchers who say the Russia-Ukraine crisis has not only attracted global buyers to India but also pushed the price of Indian wheat from around $320 per tonne (FOB) to over $360 per tonne in less than 10 days. Food secretary Sudhanshu Pandey told reporters that wheat exports till February-end have already reached 6.6 million tonnes and by the end of March, outbound shipments will reach seven million tonnes.
Most consumers are going for token buying of lesser value and are waiting for price correction for purchase of wedding jewellery.
From the Sensex pack, State Bank of India, ICICI Bank, IndusInd Bank, Axis Bank, Kotak Mahindra Bank, HDFC Bank, Reliance Industries were among the major laggards. Bucking the trend, auto stocks Tata Motors and Mahindra & Mahindra closed with gains.
Smaller Singapore- and US-based venture capital funds, retail associations and trader bodies such as the CAIT and SJM are all planning to approach the government to put pressure on the commerce ministry.
The earliest ones included whistles shaped like birds, toy monkeys that could slide down a string and small carts made from materials found in nature such as sticks, clay and rocks. While there might be no disputing India's rich toy-making tradition, the industry is languishing for lack of investment and technology, and also owing to competition from cheap imports. And though it has been listed among 24 key sectors under the government's Atmanirbhar Bharat Abhiyaan, the question remains: will this push help place it in the global game? Currently, 80-odd per cent of the toys sold in India are imported - nearly 60 per cent of them from China.
Mamallapuram's Group of Monuments -- a collection of 7th- and 8th-century religious structures -- attracted 46 per cent of the total foreign tourists who visited India compared to 12 per cent by the Taj.
The Delhi-Dausa-Lalsot stretch is set to reduce the travel time between the national capital and Jaipur considerably.
The Enforcement Directorate on Friday conducted multiple raids in connection with its money laundering probe into the alleged irregularities in the National Stock Exchange (NSE) co-location case, officials said. The central probe agency is covering nine premises in Delhi and neighbouring Gurugram including those of some brokers involved in the case, they said. The raids are being carried out under the provisions of the Prevention of Money Laundering Act (PMLA).
The prime minister thanked the people but said it was the start of a long battle, as he urged them to follow social distancing to stop the chain of transmission of Coronavirus which has infected 360 people and claimed seven lives in India.
Equity benchmarks Sensex and Nifty on Friday spurted by nearly 2 per cent, propelled by heavy buying in IT, metal and financial stocks amid a rally in global markets after lower-than-expected US inflation data. A strong rupee against the US dollar and unabated foreign capital inflows further bolstered sentiment, traders said. Easing US inflation triggered speculation that the US Federal Reserve might slow down the pace of interest rate hikes.
The competent authority under the Foreign Exchange Management Act (FEMA) has approved an order of seizure of over Rs 5,551 crore worth of deposits of Chinese mobile phone manufacturer Xiaomi -- the highest amount frozen till date in India -- the ED said Friday. The agency charged the popular Chinese phone maker with remitting foreign currency equivalent to Rs 5,551.27 crore to three entities -- one Xiaomi Group company and two US-based unrelated entities -- in the guise of royalty. The Enforcement Directorate (ED) had first issued the order of seizure of these bank deposits on April 29 under the FEMA and later sent it for approval of the competent authority, as required under the law that regulates foreign exchange violations in the country.
The warning by the anti-trust watchdog has come days ahead of Amazon founder Jeff Bezos' India visit, about which the Seattle-headquartered company has been tight-lipped. Sources in the know indicated that Bezos, coming on a short trip, has sought a meeting with Prime Minister Narendra Modi.
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
It has the potential to burnish his image as a strong leader, bring down inflation and could turn out to be common man-friendly.
Equity benchmarks ended modestly higher on Friday after the Reserve Bank raised the key interest rate in an effort to cool stubbornly high inflation and defend the rupee. Continuous foreign fund inflows into the capital markets and softening crude oil prices also helped the bourses regain momentum, traders said. The 30-share BSE Sensex ended 89.13 points or 0.15 per cent higher at 58,387.93 after facing volatility during the fag-end of trade. During the day, it climbed 350.39 points or 0.60 per cent to 58,649.19. The broader NSE Nifty went up by 15.50 points or 0.09 per cent to finish at 17,397.50.
The 6.7% growth in Index of Consumer Sentiments in July 2022 is the highest since September 2021, explains Mahesh Vyas.
Among the key demands of agitating farmers has been a legal guarantee on minimum support price (MSP). The protest reached a crescendo when thousands of farmers from Punjab and elsewhere marched towards Delhi late last year and decided to block the main entry points once they were denied entry. The Centre, on its part, held 11 rounds of discussions with the protesters and even offered to amend some of the provisions without much success. With now one of their chief demands met, farmers have now moved on to force the government to concede on MSP.
The Centre has recovered around Rs 95.86 crore from at least 11 crypto exchanges for evading goods and services tax (GST), according to data released by Parliament on Monday. The amount includes interest and penalty. The GST investigation department has detected a total tax evasion of Rs 81.54 crore by crypto exchanges that include WazirX, Coin DCX, CoinSwitch Kuber, Buy Ucoin, UnoCoin and Flitpay, among other exchanges. In a written reply to Lok Sabha, minister of state (MoS) for finance Pankaj Chaudhary said 11 cases of GST evasion by cryptocurrency exchanges have been detected by central GST formations.
From the rollback of customs duty on key electronic components to fast tracking delivery of goods imported from China, players are looking for incentives on several counts.
If the current situation prevails, exports to China could fall by 10-15 per cent. Meanwhile, even the prices of cotton, of which Gujarat is one of the leading producers, have taken a hit.
Equity indices staged a pullback on Tuesday after three days of declines as investors scooped up IT, metal and consumption stocks amid a largely positive trend overseas. A recovery in the rupee added to the momentum, traders said. Overcoming a wobbly start, the 30-share BSE Sensex climbed 274.12 points or 0.45 per cent to settle at 61,418.96.
Top losers in the Sensex pack included SBI, Tata Steel, Hero MotoCorp, Bajaj Auto, ONGC and IndusInd bank.
