The government has cut windfall gains tax on domestically-produced crude oil to nil while continuing the rate at zero on the export of diesel and ATF. The government has slashed the special additional excise duty (SAED) on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) to nil from Rs 4,100 per tonne with effect from Tuesday, an official order dated May 15 said. This is the second time that the levy, which was introduced in July last year in the form of a cess to tax supernormal gains of oil producers and fuel exporters, has been cut to nil for domestically-produced oil.
If the talks materialise, this would mark Hyundai's foray into the LNG terminal construction space in India.
EIH Ltd, which runs the Oberoi and Trident group of hotels, has entered into a strategic alliance with Hilton International for a 15-year period for co-branding hotels in India under the Trident Hilton brand.
Handset manufacturers are drawing up big plans for large display phones. Bigger than smartphone and smaller than tablet - phablet is going to be the buzzword this year in mobile space.
With the launch of low-cost devices running on Google Inc's Android platform by local firms, sales of tablets and smartphones have grown rapidly in the last two years.
The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
As per norms, sanction for prosecution of government employees accused of corruption has to be given within four months' stipulated time.
Was told that account will be closed if it did not stop providing insurance cover to ships ferrying oil from Iran.
IIT Roorkee has so far seen the highest domestic salary rise Rs 80 lakh, up by a third from Rs 60 lakh last year.
A wealthy Californian woman of Chinese origin has pleaded guilty to conspiring to illegally exporting high-performance paint coats for a nuclear reactor under construction in Pakistan with China's assistance.
The Aditya Birla group, led by Kumar Mangalam Birla, has taken charge of its mutual fund joint venture with Sun Life Financial of Canada by buying 1 per cent stake from the latter.
The Reserve Bank on Monday said it has imposed penalties of about Rs 1 crore each on Kotak Mahindra Bank and IndusInd Bank for deficiencies in regulatory compliance. Besides, the RBI has also imposed penalties on four co-operative banks. A penalty of Rs 1.05 crore has been imposed on Kotak Mahindra Bank for contravention of certain norms related to 'The Depositor Education and Awareness Fund Scheme, 2014' and for non-compliance with the directions on 'Customer Protection - Limiting Liability of Customers in Unauthorised Electronic Banking Transactions', and 'Loans and Advances - Statutory and Other Restrictions', the banking regulator said.
Sebi on Tuesday restrained two Brightcom Group officials, M Suresh Kumar Reddy and Narayan Raju, from holding any managerial position in the company or its subsidiaries until further orders. Reddy is the promoter-cum-chairman and MD of Brightcom Group Ltd (BGL) while Raju is the chief financial officer. Besides, the regulator also banned Reddy from the securities market until further orders.
Over seven lakh vehicles have been recalled by various manufacturers in India since 2012.
Over seven lakh vehicles have been recalled by various manufacturers in India since 2012.
The government has brought back the windfall profit tax on domestically produced crude oil after international prices firmed up while the levy on export of diesel has been cut to nil, according to an official order. The levy on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) is now Rs 6,400 per tonne with effect from Wednesday, the order dated April 18 said. At the last revision on April 4, windfall tax on domestically produced crude oil was cut to nil as international oil prices dipped below $75 per barrel.
Here's your chance to land a job during your vacations. Here are some openings.
Tata Steel Ltd said on Wednesday it has signed joint venture agreement with Tata Power Co Ltd to set up captive power plants in Chhattisgarh, Orissa and Jharkhand.
Hutchison Whampoa Ltd, expanding its footprint in India's fast-growing mobile telecoms sector, said on Tuesday its Hutchison Essar joint venture had agreed to buy a cellular licence in Punjab.
The Piramal Group on Friday said it is planning to move the Supreme Court to appeal against an order by insolvency appellate tribunal NCLAT, which sent back its winning bid for DHFL to the debt-laden finance company's lenders for reconsidering the valuation. Piramal Capital & Housing Finance Ltd in a statement said that "the Dewan Housing Finance Corporation Ltd (DHFL) acquisition by Piramal Group remains unaffected and the business integration continues as envisaged". The National Company Law Appellate Tribunal (NCLAT) on Thursday, while delivering a judgement on 63 Moons Technologies petition had directed the lenders of DHFL to reconsider their decision regarding the valuation of the financial firm's avoidable transactions, while approving the insolvency resolution plan submitted by Piramal Capital & Housing Finance Ltd.
Yamaha's new low-cost bike is expected to be priced at around $500 (Rs 27,500), cheaper than the entry-level motorcycle 'Crux', tagged at Rs 38,365. Market leader Hero MotoCorp Ltd's 'CD Dawn' is the cheapest product in the category, starting at Rs 36,300 (ex-showroom, Delhi).
NRI business tycoon Anil Agarwal-led Vedanta Resources will pay $1.37 billion (about Rs 5,700 crore) for acquiring 71 per cent stake in India's biggest iron ore exporter Sesa Goa.
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
The insolvency process of debt-ridden Reliance Capital Ltd (RCL) on Tuesday hit a roadblock as the NCLT Mumbai has stayed the resolution process on the plea of Torrent Group. The stay order was issued by the National Company Law Tribunal (NCLT) as the Ahmedabad-based Torrent Group challenged the revised bid from Hinduja Group, sources said. Torrent Group, which emerged as the highest bidder with an Rs 8,640 crore offer, had moved the NCLT-Mumbai against Hinduja Group's late revised bid, which it had submitted after the completion of the e-auction process on December 21.
Asia's largest integrated wind power company, Suzlon Energy has secured a contract from China-based Guohua Xilinguole New Energy and Source Co Ltd for a wind farm project.
Leading Chinese telecom equipment manufacturers, Huawei Technologies Co Ltd and ZTE Corporation, have launched an aggressive 'Indianisation' drive. The two companies are replacing Chinese nationals with Indians on their board of directors. The move is seen as an attempt by the companies to change the public perception in India, where Chinese firms are often viewed with suspicion. This would also make it easy for the firms to do business in India.
The Nagpur bench of the Bombay high court has quashed the decision of Maharashtra Chief Minister Eknath Shinde to stay the recruitment process of a co-operative bank, noting that the CM has no powers to review or modify the calls taken by the minister concerned.
IBP Co Ltd has informed BSE that a meeting of the Board of Directors of the company is scheduled on January 24, 2003 to consider Unaudited Financial Results of the Company for the third quarter ended December 31, 2002 of the Financial Year 2002-03.\n\n
Want to beat the heat while your vehicle gets refueled! After convenience stores, ATMs, Internet cafes and grocery stores, ice cream parlours are the latest addition to the petrol stations.\n\n\n\n
An industry source said Reliance Industries did not have a controlling stake in Yatra.com through its acquisition of Network 18. It was just a financial investment.
IBP Co Ltd plans to source fuel for its retail network from Reliance Industries Ltd's Jamnagar refinery in Gujarat and the upcoming refinery of Nagarjuna Oil, according to the draft prospectus filed by the company.
The step has been taken in view of the Interpol issuing red corner notices to Rasiklal Manikchand Dhariwal, owner of the Manikchand brand Gutkha, for his alleged underworld links, the Times Group said in Mumbai on Wednesday.
Tesla Inc, the world's largest electric car producer, is looking to make a significant investment in India, said its chief Elon Musk, who saw India as holding more promise than any other large country around the globe. Musk, after meeting Prime Minister Narendra Modi, said he plans to visit India in 2024. "I am confident that Tesla will be in India and we will do so as soon as humanly possible," Musk told reporters after the meeting.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances