Why are financial-technology (fintech) players moving back to India, or doing the reverse-flipping?
More than half (56 per cent) of chief economists expect the global economy to weaken in 2024, with most saying the pace of geo-economic fragmentation will accelerate, according to the latest "Chief Economists Outlook" released on Monday at the World Economic Forum (WEF). The report indicates that the global economic prospects remain subdued and uncertain. Challenges include tight financial conditions, geopolitical rifts, and the rapid development of generative artificial intelligence (AI).
Nasdaq-listed Cognizant Technology Solutions has signed a definitive agreement to acquire global engineering company Belcan for about $1.3 billion (Rs 10,853.7 crore) in cash and stock. The transaction is expected to close in the September quarter. The total consideration includes $1.19 billion (Rs 9,935.31 crore) in cash and 1.47 million Cognizant shares, valued at $97 million (Rs 809.53 crore) based on the information technology services provider's closing share price on June 7, 2024.
'If a citizen of ours has done anything good or bad, we are ready to look into it. Our commitment is to the rule of law.'
The Directorate of Revenue Intelligence, the lead agency to check customs frauds and smuggling, has decided to post officers at India's Mission in New York (US), Singapore, Brussels (Belgium) and in Nepal's Birgunj.
The construction of a Bailey bridge to connect the landslide-hit areas, where several people are believed to be stranded, alongside the deployment of sniffer dogs and over 1,000 rescuers from Central and state emergency response teams conducting massive search operations, constitutes one of the largest rescue efforts in the Wayanad, devastated by a deadly calamity.
'Investing abroad helps mitigate currency risk for foreign-currency denominated goals, such as children's higher education and international travel.'
Pakistan will remain on the 'grey list' of the Financial Action Task Force (FATF) until it further demonstrates that action is being taken against Jamaat-ud-Dawah chief Hafiz Saeed and Jaish-e-Mohammed founder Masood Azhar who are listed as global terrorists by the United Nations, the global anti-money laundering and terror financing watchdog said on Thursday.
'It came out of China and it could have been stopped and I wish they had stopped it and so does the whole world wish they had stopped it'
'We are looking at the next target which is to be a $1 billion ARR firm in the next 4-5 years.'
Do not, however, enter expecting quick returns.
'The jungles of Doda covers about 250 km.' 'Sleeper cells are providing active help to the terrorists.' 'The terrain and situation is such that it is not possible to keep track of every inch.'
CEC Sunil Arora will meet former heads of Central Board of Direct Taxes and Central Board of Indirect Taxes and Customs on Friday to discuss ways to keep a check on black money disbursements in South India, especially Tamil Nadu.
The telecom ministry will set up an intelligence unit and a consumer protection system as part of continuing efforts to tackle the menace of pesky calls as well as to take strict action against financial frauds perpetrated using telecom resources.
Municipal corporations penalise late property tax payments. 'Penalties can include attachment of properties, bank accounts, rent and other movable assets," says Anand Moorthy, co-founder, Square Yards.
The two-wheeler segment is, however, still far from its H1FY19 peak of 9.7 million units
The quizzing of the 48-year-old daughter-in-law of superstar Amitabh Bachchan and Samajwadi Party MP Jaya Bachchan comes weeks after her husband Abhishek Bachchan was questioned by the agency in another case emerging from the same set of papers linked to the offshore leaks case, they said.
'Countries like Israel said openly that they will hunt people down. We have no such policy.' 'We have always been following the legal process of getting them (people wanted by India) through extradition.'
The foreign agency has claimed four accounts held by the Jindals.
Nikhil Gupta, 52, has been charged with murder-for-hire, which carries a maximum sentence of 10 years in prison, and conspiracy to commit murder-for-hire, which carries a maximum sentence of 10 years in prison, US Attorney for the Southern District of New York Matthew G Olsen said.
'The number of STRs received in 2016-17 is 4,73,006 which is more than four times as compared to 2015-16 and this increase is attributed to demonetisaton exercise...,' the Financial Intelligence Unit's report has said.
Jimmy Patel, MD & CEO, Quantum Mutual Fund, suggests some valuable financial gifts for your children.
A special task force which would comprise the Financial Intelligence Wing, enforcement directorate, directorate of Revenue Intelligence and the Income Tax department, has been set up for the purpose.
I-T officials are also looking into the finances of candidates who contested state elections in Uttar Pradesh, Punjab, Gujarat, and Karnataka, reports Shrimi Choudhary.
A CBTR pertains to transfer of funds through various channels abroad.
rediffGURU Krishna Kumar, founder and CEO of GoMoTech, offers expert advice on how to scale up in your career and life.
To curb the menace of illicit fund flows, the government has set up a high level panel that will look into trade-based money laundering activities which particularly involve manipulation of invoices.
These entities have facilitated illicit transactions worth thousands of crores of rupees over the past 2-3 years
Closely watched by the world for any escalation, the Iran-Israel conflict is already showing early signs of stress for India Inc - longer deliveries, doubling freight rates, extended working capital cycles, and higher costs. For those yet to feel the heat, there is growing apprehension and nervousness over future developments, observed industry executives.
Some videos of the incident surfaced on social media showing the fire with intermittent explosions taking place at the site and people running to save themselves.
Located in a small township in the eastern part of Bengaluru is IBM's new Security Command Centre, which is surrounded by offices of multinational tech companies. This unit is the centrepiece of IBM's multi-million dollar investment to help businesses prepare for the growing threat of cyberattacks across the Asia-Pacific (APAC) region. This facility is the first of its kind in the region. It helps train in cybersecurity response techniques through highly realistic and simulated cyberattacks.
Tightening its noose on those who do not pay taxes, the Income Tax Department has started sending letters to around 12 lakh assessees who are high spenders but do not file returns, a top finance ministry official said.
The aim of the department is to check suspected tax evasion by the banking institutions and possible loss of revenue by illegal acts done by authorised individuals.
'If we have to restrict and fight terrorism, first and foremost, we have to ensure communal harmony in the country.'
The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.
The agency has booked Sisodia, a 1992-batch IRS officer Sukesh Kumar Jain who was then secretary of vigilance, retired CISF DIG Rakesh Kumar Sinha who was working as special advisor to Chief Minister Arvind Kejriwal and joint director in the Feedback Unit, they said.
Pakistan has been scrambling in recent months to avoid being added to a list of countries deemed non-compliant with anti-money laundering and terrorist financing regulations.
Dominic Martin, who had surrendered to police claiming responsibility for the blasts at a Christian prayer meet three days ago, was described as a 'brilliant mind' by investigating officers.
Switzerland may tighten its anti-money laundering laws after a report by a government-appointed group found the country was still subject to financial crime.
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