The US launched an investigation, focusing on whether the tax in India and other countries discriminated against American companies, were retroactive, and reflected unreasonable tax policy.
The swollen Seine receded on Sunday, but between flood damages, strikes and terror fears, France was firmly stuck in the doldrums just five days before the Euro football tournament. Thick grey clouds hung over Paris as the muddy Seine slowly inched back from a three-decade high that saw it burst its banks in places, forcing the Louvre and Orsay museums to shut their doors to evacuate priceless works. But while crowds thronged to photograph the river -- Paris's star attraction this weekend -- residents in nearby towns picked through their devastated homes, with insurers estimating damages of at least 600 million euros ($681 million). Several towns remained on alert after the floods left four people dead in the Paris region this week, and over 11,000 homes were without electricity. In Paris several metro stations remained shut as a precaution.
There is little that Andreas Schmid, the Swiss-born chairman of Flughafen Zurich AG (Zurich Airport International AG), and Yogi Adityanath, chief minister of Uttar Pradesh (UP), could have in common. But Schmid, whose company is building the Noida airport in partnership with the UP government, finds himself on the same footing as the firebrand Hindutva leader who rules the state. Both hope the Rs 30,000-crore ($4 billion) project, hanging fire for 20 years, shows some progress when UP goes to the polls in 2022.
Rediff.com encapsulates all the sporting action from the past week in this eye-catching photo feature.
Belgians tasted bitterness in their beer on Tuesday after their dreams of a first World Cup final were ended by the narrowest of margins by their bigger French neighbours.
The FATF continuing Pakistan in the 'Grey' list means its downgrading by IMF, World Bank, ADB, EU and also a reduction in risk rating by Moody's, S&P and Fitch.
Paris tourist sites reopened, workers cleaned up broken glass and shop owners tried to put the city on its feet again, a day after running battles between yellow-vested protesters and riot police left 71 injured and caused widespread damage to the French capital. Take a look at the widespread damage caused to the city during the protests.
A round-up of Tuesday's action in the UEFA Champions League.
A new framework has been put in place for automatic exchange of information between Switzerland and India to help check the black money menace with effect from January 1, 2018. The funds held by Indians through fiduciaries alone used to be in billions till 2007 but began falling after that amid fears of regulatory crackdown. It is now at second-lowest level in 20 years.
However, if the rupee depreciates much, the economy in dollar terms would be that much smaller.
Paris is suffering the worst flooding in more than 100 years on Saturday forcing the Louvre to evacuate 250,000 pieces of art to safety from its basements.
Banned UEFA President Michel Platini's Panamanian bank account was declared to the authorities in Switzerland, where he lives, his lawyer said in an interview published by French newspaper Le Figaro on Tuesday.
World Championships bronze medallist Lakshya Sen and men's doubles combination of Chirag Shetty and Satwiksairaj Rankireddy registered contrasting victories to reach their first Yonex-Sunrise India Open 2022 final, while PV Sindhu was knocked out, in New Delhi on Saturday.
Uruguay forward Edinson Cavani scored twice to earn the South Americans a 2-1 win over European champions Portugal in their World Cup round of 16 clash on Saturday and set up a quarter-final against France.
Adding oomph to an ageing brand?. When the first wrinkles appear, the search for the fountain of youth must begin!
RBI Governor Raghuram Rajan will also participate in the meet.
The mandates which Pakistan has failed include action against all United Nations-designated terrorists like Jaish-e-Mohammed chief Azhar, Lashker-e-Tayiba founder Hafiz Saeed and the outfit's operational commander Zakiur Rehman Lakhvi.
Replying to a query, whether the government has made any assessment of black money stashed by Indians in foreign countries, Jaitley said there is no official estimation of that.
Switzerland, UK, Venezuela, US and France are t
Lance Armstrong's admission that he used performance-enhancing drugs during his cycling career could hurt his bank balance as much as his reputation, with one company demanding $12 million from him.
Diego Costa has yet to open his account for Spain in five appearances, a perplexing state of affairs given his prolific form for Atletico Madrid last season and his blistering start at Chelsea.
Market breadth depicted strength. There were almost 3 gainers against every loser on BSE
The drastic cost-saving drive unveiled by the bank would trim its workforce by nearly 16 per cent from the current strength of 64,000 people.
'I felt that the idea about putting money into bank accounts of the poor was a right one if implemented with sincerity'
The situation began on Tuesday evening, with local media reporting that a family had been held hostage in the town, which is near the Belgian border.
UK's Cairn Energy Plc has offered to forego $500 million and invest that amount in any oil and gas or renewable energy project identified by the Indian government if New Delhi agrees to honour an international arbitration award and returns the value of loss it incurred because of being taxed retrospectively, sources said. The Scottish firm invested in the oil and gas sector in India in 1994 and a decade later it made a huge oil discovery in Rajasthan. In 2006-07, it listed its Indian assets on the BSE. Five years after that the government passed a retroactive tax law and billed Cairn Rs 10,247 crore plus interest and penalty for the reorganisation tied to the flotation.
The market breadth, indicating the overall health of the market, turned negative from positive
The Uttar Pradesh Defence corridor is estimated to attract Rs 20,000 crore investment and create 250,000 jobs.
Switzerland remains the 'biggest private banking financial centres for cross border wealth management' with assets worth over CHF 2.11 trillion ($2.2 trillion), as per the study conducted by the Swiss Bankers Association and the Boston Consulting Group.
Swiss banking major UBS on Wednesday said it will slash its headcount by 8,700 employees globally and expects losses to the tune of two billion Swiss francs (about $1.75 billion) in the first quarter this year.
Hydrography (underwater geography) prevents the Indian Navy for opting for an all-conventional, or all-nuclear submarine fleet.
The central probe agency had filed a money laundering case to probe the deal and is carrying out the action to collect evidence under the Prevention of Money Laundering Act (PMLA), officials said.
Modi's Atma Nirbhar Bharat Abhiyan or Self-reliant India Mission is about 10 per cent of India's GDP in 2019-20 and would rank behind Japan, the US, Sweden, Australia and Germany. But unlike most of the relief packages announced globally, Rs 20 lakh crore is not entirely in new spending and includes Rs 1.7 lakh crore package the government had announced in March as well as the steps taken by the Reserve Bank of India (RBI) such as liquidity enhancing measures and interest rate cuts.
Banking stocks dipped with Nifty PSU Bank index falling 1.7% after the government notified the ordinance that seeks to tackle non-performing loans in the sector.
The Swiss National Bank, the country's central banking authority, has estimated the funds currently held by Indians in Swiss banks at a mere $1.98 billion. Fear of disclosure due to greater scrutiny of this illicit wealth has played the main role in the flight of capital.
Swiss banking major Credit Suisse on Thursday said its chief executive Brady W Dougan received a whopping compensation of 19.2 million swiss francs ($17.9 million) last year, nearly seven times higher than his pay package in 2008.
Anil Divan, who is fighting the black money case in the Supreme Court, speaks to Sheela Bhatt/Rediff.com.
Atanu Biswas explains the economics behind hosting a Games in pandemic times.
British oil firm Cairn Energy Plc on Tuesday said it has identified Indian sovereign assets overseas, which it can seize in the event of New Delhi failing to return over USD 1.7 billion that an international arbitration tribunal has ordered after rescinding a retrospective tax demand.
'We don't need to hinge India-UK relations on shared hostility toward China,' observes Ambassador M K Bhadrakumar.
