'Companies are being forced to pay higher salaries to retain and hire employees due to a big rise in attrition in the industry.'
Vivek Johri, the Chairman of Central Board of Indirect Taxes and Customs (CBIC) on Friday said that the cash recovery of approximately Rs 150 crore from searches in Kanpur at several locations related to Trimurti Fragrance is the 'biggest haul ever'.
Prime Minister Manmohan Singh on Saturday favoured building a climate that attracts investments and establish fair and effective regulatory institutions and legal processes. Addressing a conference on 'Economic Growth in Asia and Changes of Corporate Environment', he said the government is bracing to meet international standards in corporate laws and will soon bring before the Parliament the new Companies Bill.
Data shows that the current system of decentralised marketing and centralised procurement helps Punjab and Haryana farmers the most, while its efficacy in other states has been poor. Experts and farm leaders say success of the laws rests heavily on implementation.
In January, Visa's chief executive officer, Al Kelly, said during an earnings call that "there's been a burst of the balloon in valuations in the fintech world". Noting that the trend of lower valuations "is a helpful characteristic of the current environment", he added: "We will look for capabilities and management teams that will bring more value to Visa than we can bring ourselves." Data from KPMG's Pulse of Fintech H2'22 shows that global fintech investment - via mergers and acquisitions (M&As), private equity (PE) and venture capital (VC) firms - at $164.1 billion in 2022, was down 31 per cent over the year before. Indian fintechs held up better during this timeframe, attracting $6 billion, or a fall of 24 per cent.
Insurance firms want more clarity before increasing foreign partner's stake.
How many of the apps downloaded in India deliver the GPT technology they say they are?
The code, which will replace the existing Income Tax Act 1961, aims to rationalise tax rates to bring more people and companies under the tax net.
Prime Minister Narendra Modi on Thursday slammed the opposition alliance INDIA as a collection of arrogant dynasties who will take India back by two centuries as he exuded confidence that people will bless the "garib ka beta" with a record-breaking mandate in the 2024 Lok Sabha polls.
The defence ministry billed the 615-acre factory as India's largest helicopter-manufacturing facility and it has been planned as a one-stop solution for the country's chopper requirements.
Opportunities will also stem from the clear support for generics.
P P Chaudhary the newly-appointed minister of state for corporate affairs, is monitoring and coordinating actions against shell companies.
The price of petrol breached a three-year high on Monday at Rs 74.50 a litre, while the price of diesel was at its highest at Rs 65.75 a litre
Google's chief privacy officer, Keith Enright, has warned policymakers that frequent and large-scale sharing of citizen data, even if anonymized, can damage users' privacy. Pointing to research that shows data sets lose their anonymity if shared consistently over time, he said: "I would encourage policymakers and companies to be extremely circumspect while proceeding in that direction." Anonymization is a technique that removes or modifies personally identifiable information, resulting in data that cannot be associated with any one individual.
Despite a healthy March-May quarter (Q3FY22) show by global IT consulting firm Accenture, Indian IT companies shed up to 3 per cent on the National Stock Exchange (NSE) on Friday as analysts continued to highlight medium-term pain points for the sector. The Nifty IT index settled 0.9 per cent lower on Friday, as against a 0.9 per cent rise in the Nifty50 index. According to analysts at ICICI Securities, Accenture's Q3 saw moderation in year-on-year growth rate across verticals and US regions, which signals at likely normalisation in revenue momentum for Indian IT services going forward.
Telcos in line of fire over call drops, inflated bills
The bill would prohibit unaccounted money from being pumped into the sector and as now 70 per cent of the money has to be deposited in bank accounts through cheques.
You telephone bills will become cheaper if the finance minister P Chidambaram heeds to the telecom operators' demand for a reduction in levies.
The ministry of company affairs (MCA) intends to insert a clause in the Companies Act that will make audit firms also liable to prosecution as against the existing provisions that limits penal action only to chartered accountants.
"A committee is working on it. We have also asked the MCA (Ministry of Corporate Affairs) to broaden the scope of section 55 of Companies Act 1956 which is now clause 22 of Companies Bill," SEBI Executive Director Usha Narayanan said at an Assocham event in New Delhi.
Any delay in passing the coal bill may cause a crisis in the coal sector which would also affect the power sector.
US Senate may not pass the new bill, which sought to prevent Indian companies from posting their employees on clients' location in that country, according to Congressman Jay Inslee.
In the face of tax blow, brokerages remain sanguine about the prospects of asset management companies (AMCs). A sharp correction in the shares of AMCs over the past three months factors in most of the negatives and turned valuations attractive, observe analysts. In its latest report, Kotak Institutional Equities (KIE) has upgraded HDFC AMC to 'add' (from 'reduce') and reprised 'add' and 'buy' ratings on the rest of the listed AMCs - Nippon, UTI, and Aditya Birla Sun Life.
Google on Friday said it is deferring the deadline for developers in India to integrate with its Play billing system from March 2022 to October next year. In October last year, the company had announced March 31, 2022 as the deadline for developers in India to integrate with Play's billing system. A Google spokesperson on Friday said the extension has been done in view of the changes to India's recurring digital payments guidelines.
Says sector has grievance redress mechanism.
Clarity to help operationalise the controversial FDI policy of 2009.
Lok Sabha and Rajya Sabha proceedings were adjourned for the day amid protests by the Opposition in both the Houses demanding removal of Ajay Mishra as Union minister and withdrawal of the suspension of MPs.
A comprehensive Bill on insurance sector is likely to be introduced in the winter session of Parliament, Union Finance Minister P Chidambaram said on Friday. \n
Centre, with states, to change methodology of calculating domestic power rates, set standards for consumer tariffs
"The government has taken several steps to protect interests of investors. The Companies Bill, 2009, which is before the Parliamentary Standing Committee, has allowed Class Action Suit for the first time in the country," corporate affairs minister Salman Khurshid said in the Lok Sabha.
Two US lawmakers have introduced a bill in the House of Representatives that aims at granting an automatic right to H-4 visa holders to work in the country, a move which will benefit the spouses of thousands of foreigners, including Indians, and also address the labour shortage affecting American businesses. H-4 visas are issued to dependent spouses and children who accompany H-1B, H-2A, H-2B, and H-3 visa holders to the United States. Many H-4 visa holders are highly skilled people in their own right and previously had careers of their own or worked to support their families.
Soon, one will be able to pay utility bills at the local supermarket, while buying groceries, with the RBI allowing the setting up of payment banks.
Discussions are also going on to bring PLI scheme for toys, furniture, bicycles and containers. The objective of the scheme is to make domestic manufacturing globally competitive, create global champions in manufacturing, boost exports and create jobs.
S Somasegar, senior vice president, Microsoft Corporation, shares his experiences of having worked closely with Bill Gates.
The companies' underrecoveries stood at a whopping Rs 1,39,869 crore last financial year. Of that, Rs 62,837 crore was accounted for by diesel alone.
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