From a longer term perspective an improvement in economic environment is necessary for a rise in inbound deals.
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.
Every player has a passion so I want more and more children to play. There should be an infrastructure for them, he added.
Both Jet Airways and Go First have met with a similar fate of landing up in insolvency, albeit for different reasons. Whether Go First will be able to avoid the sharp erosion in value like in the case of Jet, experts say, will depend on how quickly it is able to restart operations and retain its slots at airports. Go First, owned by the Wadia group, filed for voluntary corporate insolvency resolution on May 2 due to inadequate capacity utilisation that led to a cash crunch.
The government on Friday announced that no tax will be charged on overseas spending of up to Rs 7 lakh in a year using debit or credit as it looked to douse backlash from its earlier decision of levying TCS on all spending. The government had earlier this week brought overseas credit card spending under Liberalised Remittance Scheme (LRS). This meant that any spending using credit cards overseas would attract a 20 per cent tax from July 1.
Shubman Gill and Suryakumar Yadav may get promotion in the annual central contracts list for the 2022-23 season.
While investment activity jumped three to four times this year over last year for e-commerce, it has shown marginal growth (five per cent) in the case of consumer and retail
Two-wheeler exports from India fell by 17.8 per cent to 3.65 million units in 2022-23 (FY23), according to data released by the Society of Indian Automobile Manufacturers (Siam) on Thursday. This decline is due to a rise in global inflation and the weakening of economies and currencies in key export markets of Africa, Latin America (LatAm), and South Asia. In contrast to FY23, two-wheeler exports from India jumped 35.4 per cent to 4.44 million units in 2021-22 (FY22).
After defaulting for a consecutive time in paying its investors, National Spot Exchange Ltd (NSEL) got a Rs 177-crore (Rs 1.77 billion) lifeline from its main promoter, Jignesh Shah-run Financial Technologies.
Supply chain constraints will keep plaguing automobile companies even though demand significantly improved resulting in a 13 per cent year-on-year (YoY) increase in sales in financial year 2021-22 (FY22). Executives at auto firms fear that the Russia-Ukraine war will further dent the sector's prospects of recovery as supply chains face more disruptions. "The visibility in the supply side is so hazy that it is difficult to give even one quarter projection. But all the parameters of demand like pending bookings and enquiries are increasing.
Senior citizens and others depending upon income from bank fixed deposit (FD) schemes will be at the receiving end with the retail inflation exceeding the interest rates. The Reserve Bank of India (RBI) in its latest monetary policy review has projected retail inflation at 5.3 per cent for the current financial year. Last week, the RBI said that the Consumer Price Index (CPI)-based inflation is now projected to be at 5.3 per cent for 2021-22 with risks evenly balanced.
However, the tribunal rejected the plea by the Netherlands based vendors for filing an intervention application, saying the Dutch district court had no jurisdiction to order bankruptcy of Jet Airways.
And there have been months when flows have exceeded $3 billion.
The old guard of Board of Control for Cricket in India continued to show defiance to the Supreme Court-appointed Committee of Administrators (COA) with only six state units filing their responses to "Due Diligence Report' prepared by Deloitte on the functioning of these associations.
About 40 per cent of respondents felt fraud had gone up in India, while 67 per cent said the new Act would improve governance.
The highest compensation package for the Global MBA class at the S P Jain School of Management stood at Rs 43.9 lakh while that for the MGB programme was Rs 35 lakh.
Other forms of securities such as compulsorily convertible debentures (CCDs), optionally convertible debentures (OCDs) and some derivatives could remain out of the scope of the amendments
More than 70 per cent of Indian youth aged between 15 and 29 can't!
However, Icra Rating Principal Economist Aditi Nayar feels that the numbers are a bit too optimistic and need real heavy-lifting by the Centre and the states. "The survey forecasts on real and nominal GDP will require a substantial push from Central and state spending as private sector capacity expansion is anticipated to be intermittent, and sector-specific in the next couple of quarters," she said. Nayar added that private consumption is likely to chart a differentiated recovery across income and age groups. Based on the comments made in the Survey, she expects the Union Budget to incorporate a growth in gross tax revenue of 15-16 per cent.
One of the key concerns of foreign investors is how the general anti-avoidance rule would apply in case an investor is availing benefits under double taxation avoidance agreement.
The probe agency has found that the company's vast network of sales agents across the globe was not independent of Jet Airways and several of these entities were linked to its founder, Naresh Goyal.
The trademarks/brands on the block include Fly Kingfisher, Flying Models, Funliner, Fly the Good Times, Kingfisher and Flying Bird Device.
Any transaction where the value of Indian assets exceeds 50% of the FTC would attract taxes in India.
Recent incidents suggest these safeguards perform well in simulated conditions and mock drills, but often fall short when actual threats emerge.
When it was operational, Jet Airways had over 22,000 employees of them over 16,000 were on the rolls.
As corporate India prepares to put its house in order, the transition raises concerns
The RBI rejection is a second blow to BoB - the lead bank of both companies -- after a Delhi high court order on August 18 stayed a move by BoB and the entire consortium of lenders to classify these accounts as fraud, restraining them from taking any other coercive action till the next hearing.
At Rs 20,000 crore (Rs 200 billion), e-commerce has seen one of the fastest rates of growth in investment activity this year.
Hiranandnani's new venture is well-timed, but it will face heavy competition from both international majors and domestic peers like Adani Group.
While the concerned property may be confiscated, a person indulging in such a transaction is liable to pay a fine up to 25 per cent of fair market value of the property
Adani, which had earlier bid only for the wholesale book, now want all of DHFL's assets and has pipped both Oaktree and Piramal by bidding higher than each of them.
Data issued by Siam shows sale of PVs (cars, vans and utility vehicles) grew 14.3 per cent to 275,417 vehicles.
The 17-lender consortium led by State Bank of India has also put the Flying Models, Funliner, Fly Kingfisher and Flying Bird Device on the block.
The IRP has admitted 33 claims from banks worth Rs 8,462 crore, and is verifying Rs 15,044-crore claims from operational creditors and staff.
The airlines had pledged the trademarks as collateral with banks at the time of taking loans from them
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The new provisions strengthen the hands of minority shareholders and will improve corporate governance.
Also, a dedicated cell, headed by a member of the Central Board for Direct Taxes (CBDT), will be set up to address concerns faced by start-ups.
The Kingfisher House has a built-up area of over 17,000 sq ft and is located in plush Vile Parle area near domestic airport in Mumbai.
In the past five years, the US has seen nearly two dozen Bills on employment visas introduced without success. But this time it is different, industry sources tell Ayan Pramanik.
Sales of four- and two-wheelers almost halved in August, compared to the equivalent month last year.
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