'It is imprudent on the part of Indian insurance companies to invest out of the shareholders' fund in a private limited company.'
Seeking to allay fears that existing Waqf properties will be subject to scrutiny after the amended Waqf law comes into force, a parliamentary panel on Tuesday recommended that no cases will be reopened against such properties on a retrospective basis, provided the asset is not in dispute or belongs to the government.
The Pakistan Cricket Board informed the International Cricket Council on Thursday that it will not accept the Hybrid model for next year's ICC Champions Trophy.
Karnataka Chief Minister Siddaramaiah directed officials on Saturday to immediately retract all notices sent to farmers regarding Waqf land.
Punit Goenka has resigned as the managing director of Zee Entertainment and has been appointed as CEO to have his focus entirely on operational responsibilities assigned to him by the board of the company. The board has "accepted the resignation of Punit Goenka as managing director of the company and appointed him as CEO," said Zee Entertainment in a regulatory update.
'I've been a firm believer in that if you want Test cricket to survive and be alive and thriving, I think that's the way to go.'
New India Assurance and Niva Bupa have invested in the Bima Sugam India Federation.
The Indian arm of the Norwegian investment company Orkla ASA, which owns spice brands like MTR and Eastern, is exploring the possibility of launching an initial public offering (IPO) in 2025, said a top company executive. "The ASA board just cleared the proposal. "We had done a pre-IPO study last year to understand what we need to do and based on that the board said, 'okay, let's go ahead and explore capital markets'," Sanjay Sharma, CEO, Orkla India, told Business Standard.
Indo-Canadian Anita Anand and Delhi-born Kamal Khera are part of new Canadian Prime Minister Mark Carney's cabinet. Anand is the Minister of Innovation, Science and Industry while Khera is Minister of Health. Carney's cabinet with 13 men and 11 women is smaller than Trudeau's 37-member team.
The stocks are largely from sectors such as chemicals, finance and cement, which struggled earlier but the worse seems to be behind them.
Fitch Ratings has removed energy infrastructure company Adani Energy Solutions Ltd (AESL) from its 'Ratings Watch Negative' list, the first upgrade by an international ratings agency since the US indictment. Fitch affirmed AESL long-term foreign and local-currency issuer default ratings (IDRs) at 'BBB-'.
While the capital spending is being maintained at 3.1 per cent of the GDP, a little more would have boosted economic growth even further, suggests Rajiv Memani.
IT company Wipro on Thursday reported a 21.2 per cent increase in its consolidated net profit to Rs 3,208.8 crore for the second quarter of FY25. It had reported a profit of Rs 2,646.3 crore in the year-ago period. The revenue from operations for the reporting quarter was Rs 22,301.6 crore, a 0.95 per cent decline from Rs 22,515.9 crore in Q2 FY24.
President Trump with his MAWA has unwittingly provided us this opportunity. Will PM Modi grasp this and leave a legacy of an ushered in scientific and technological revolution in India, asks Colonel Anil A Athale (retd).
Marico may buck the industry trend with the fast-moving consumer goods (FMCG) major reporting strong growth and favourable commentary in a weak quarter for the industry. The company reported consolidated revenue growth of 8 per cent year-on-year (Y-o-Y) in Q2FY25. Domestic revenue growth was 8 per cent Y-o-Y with 5 per cent volume growth (4 per cent in Q1FY25).
India's largest IT services company TCS on Thursday reported an 11.95 per cent jump in net profit at Rs 12,380 crore in the December quarter while the overall workforce reduced by over 5,000 employees. The Tata Group company had reported a net profit of Rs 11,058 crore in the year-ago period, and Rs 11,909 crore in the preceding September quarter. The company's revenue grew 5.6 per cent to Rs 63,973 crore as against Rs 60,583 crore a year earlier.
The England and Wales Cricket Board (ECB)'s financial projections on the prof itability of its pet project 'The Hundred' is largely "disconnected from reality" reckoned Lalit Modi, who conceptualised the vastly successful Indian Premier League (IPL) in 2008.
'The BJP lacks a credible mass leader who matches Mamata Banerjee's popularity.' 'Given the division of votes among Opposition parties, the West Bengal government's dole-giving strategy, and the consolidation of the poor, significant sections of scheduled caste groups and Muslim minorities behind the ruling party, it will be difficult to dislodge the Trinamool from power.'
German technology major SAP views India as the fastest growing market, where it plans to embark on an aggressive hiring spree, a top company executive said on Wednesday. "India is among the top 10 markets for SAP and growing fastest. We will continue to invest in India. "We are expanding our campus to accommodate 15,000 more people.
The deadlock over the hosting of next year's Champions Trophy ended on Thursday when the ICC announced that India will play its matches of the 50-over showpiece at a neutral venue instead of host country Pakistan, which will have a similar arrangement for tournaments to be held in India till 2027.
The Securities and Exchange Board of India's (Sebi's) six-step plan to curb retail participation in speculative index derivatives may lead to a substantial drop in volumes - potentially by 30-40 per cent. These measures aim to reduce excessive speculation in the futures and options (F&O) segment, where daily turnover often exceeds Rs 500 trillion and retail investors end up on the losing side of the trade more often. Sebi has decided to increase the contract size from Rs 5 lakh to Rs 15 lakh, raising margin requirements and mandating the upfront collection of option premiums from buyers.
The Budget 2025-26 meets the expectations of fiscal consolidation, maintaining capital expenditure, and boosting consumption through tax cuts.
'If our Budget allows, we may implement both measures -- making income up to Rs 10 lakh tax-free and introducing a 25 per cent slab for income between Rs 15 lakh and Rs 20 lakh.'
According to a top ICC source, the decision was more or less finalised during an informal meeting between the body's new president Jay Shah and the Board of Directors, including Pakistan, at its headquarters in Dubai on Thursday.
Tata Power's Q2FY25 reported results were above consensus despite challenges like low plant availability at Mundra and Odisha discom operations affected by rain. A positive development for the power major included module manufacturing hitting nearly 100 per cent capacity utilisation. The Board has approved an investment proposal for a 1GW pumped storage project (PSP).
The parliamentary committee scrutinising the Waqf bill is set to propose that existing 'Waqf by user' properties will remain so if not in dispute or are government facilities but they must be registered before the new law takes effect, providing little relief to Waqf bodies in their unverified title claims.
It will be a 'three versus seven' fight at the ICC meeting in Dubai, with the BCCI, Cricket Australia and the England and Wales Cricket Board having prepared a 'Position Paper' that will allow three boards to control the parent body's functioning.
In Kerala's society, known for its high material standard of living, plunging into a state of having nothing overnight can be terrible for one's social standing and sense of self-esteem. Rehabilitation entails piecing a community back together after a disturbance and while its aim is noble, the act of reassembling will bring alive disparities and inequalities, explains Shyam G Menon.
After registering a net profit of Rs 25.1 crore in Q3FY25 and consolidated revenues growing by 7 per cent on a like-for-like basis, Siddharth Mittal, chief executive officer (CEO) and managing director, Biocon, told Sohini Das/Business Standard in a virtual interaction that local manufacturing in the US is a trade off between cost and qualifying to do business there.
The Budget announcement of zero tax for earnings upto Rs 12 lakh per annum and the rejig of tax slabs across the board should prompt more than 90 per cent of individual taxpayers to embrace the new tax regime as compared to the about 75 per cent as of now, CBDT Chairman Ravi Agrawal said. Agrawal also highlighted the government's focus on "non-intrusive" tax administration through enhanced use of Artificial Intelligence (AI) and simplified tax processes for common taxpayers. He emphasized the benefits of the new tax regime (NTR), which offers simple calculations and allows taxpayers to file their ITR without professional help. The CBDT chief stated that the Budget provisions related to income tax payment benefit all income earners, not just those earning Rs 12 lakh per annum, creating a positive sentiment in the economy and propelling growth. The department is also harnessing technology, including AI and data analytics, to widen and deepen the tax base, resulting in increased compliance and tax revenue. Agrawal further highlighted the positive impact of data availability and simplified tax processes on compliance rates, citing examples of taxpayers filing revised returns and paying taxes after being prompted by the department's data analysis.
'The irony of this country is that the party in Opposition and the party in power both depend on Muslims.'
Six years after the rollout of the biggest indirect tax reform in India, Goods and Services Tax (GST) revenue of Rs 1.5 lakh crore every month has become a new normal and tax officers are focusing on dealing with fraudsters who are adopting newer modus operandi to game the system, causing loss to the exchequer. To apprehend black sheep, who operate as syndicates and create fake entities on the basis of forged documents to claim input tax credit (ITC), tax officers have started using data analytics, artifical intelligence and machine learning aiming to curb evasion, which was over Rs 3 lakh crore since inception of GST. It was over Rs 1 lakh crore in 2022-23. Thinktank Global Trade Research Initiative (GTRI) said the most critical pending GST reform is upgradation of GST Network to prevent fake supplies and fraudulent claims of Input Tax Credit (ITC).
The Bill to amend the Wakf Act, 1995, will make it mandatory for Waqf boards to register their properties with district collectors to ensure their actual valuation.
The VBL board approved the purchase of SBC Tanzania for Rs 1,304 crore and SBC Beverages Ghana for Rs 127 crore. These own manufacturing/distribution rights for NARTD (PepsiCo branded) beverages in Tanzania and Ghana. The acquisitions will help VBL gain ground in East and West Africa.
Nepal has sharply increased permit fees for climbing Mount Everest by 36 per cent and also introduced a slew of measures aimed at controlling garbage pollution on the world's tallest peak, officials said.
FMCG major Hindustan Unilever Ltd on Wednesday reported a 19.18 per cent rise in consolidated net profit at Rs 2,989 crore in the December quarter.
The Securities and Exchange Board of India (Sebi) on Thursday debarred Pacheli Industrial Finance and six others entities from the markets in its bid to crack down on a "pump and dump" case, substantiated by a probe into Rs 850 crore preferential allotment and examination of alerts around price movement of the firm's stock.
As per ICC norm, the host nation is required to get tax exemption from the government for hosting tournaments organised by the global body. Since India's tax rules don't allow such exemptions, the BCCI has already lost close to Rs 193 crore as the government didn't exempt tax surcharge for hosting the 2016 ICC T20 World Cup. The ICC is expecting US$ 533.29 million (Rs 4400 crores approx) from the broadcasting revenue of the 2023 event in India.
It provides for a broad-based composition of the Central Waqf Council and the State Waqf Boards and ensures the representation of Muslim women and non-Muslims in such bodies.
These are the highlights of the Union Budget 2025-26 presented by Finance Minister Nirmala Sitharaman in Parliament on Saturday.
