The Mexican Navy ship carrying 277 passengers lost power and crashed into the Brooklyn Bridge, Mayor of New York City, Eric Adams, said on Sunday (local time).
In front of a tournament-high crowd of 81,188 at MetLife Stadium that included US President Donald Trump, Chelsea triumphed to bag the biggest club title.
The panel, headed by the Union finance minister and comprising of representatives of all states and UTs, decided on tax rate based on recommendation of a group of ministers that looked at taxing casinos, horse racing and online gaming.
From the Sensex firms, Tata Steel, Power Grid, NTPC, Kotak Mahindra Bank, Reliance Industries and Adani Ports were among the biggest gainers. Asian Paints and Tata Consultancy Services were the only laggards.
Brazil's Fluminense continued their fairy-tale run at the Club World Cup with a 2-1 victory over Saudi Arabia's Al-Hilal on Friday in Orlando, Florida, to book their place in the semi-finals.
US President Donald Trump announced a 26 per cent "discounted reciprocal tariff" on India, half of the 52 per cent levies imposed by India on American goods, as he described India as "very, very tough."
The Brihanmumbai Municipal Corporation (BMC) has decided to impose property tax on commercial establishments operating in slum areas and is also considering the levy of a Solid Waste Management (SWM) user charge in the future. The civic body is expecting to collect a total of Rs 5,200 crore in property tax during the next financial year. The BMC intends to levy an SWM charge on Mumbaikars in a phased manner though it would not be levied in FY 2025-26.
Brendan Lynch, the assistant US trade representative for South and Central Asia, will pay a five-day visit to India beginning Tuesday, days before US President Donald Trump's tit-for-tat tariff kicks in. The senior US trade official is expected to hold talks with Commerce Minister Piyush Goyal besides meeting a number of senior Indian officials.
When specifically asked about the reason for the crash and whether Air India is privy to any preliminary findings, Chandrasekaran said, "One would have to wait for the probe to conclude."
"Their Prime Minister just visited -- he's a great friend -- but I told him, 'You're not treating us right. You charge us 52%, while for years, decades even, we've c'harged you next to nothing. It wasn't until seven years ago, when I took office, that we started pushing back, beginning with China.'"
In President Donald Trump's big priority bill, there is a proposal for a 5 percent excise tax on remittance transfers that would cover more than 40 million people, including those holding green cards and H1B visas.
There's no change in Apple Inc's India strategy, said a top government source. 'It can only be enhanced'.
The GST Council on Saturday clarified that guarantees provided by corporate to their subsidiaries will attract an 18 per cent GST, while no tax will be levied if a personal guarantee is given by a director to the company. The council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state ministers, also cut the GST rate on molasses to 5 per cent from 28 per cent. It also ceded the right to tax Extra Neutral Alcohol (raw product for making alcohol for human consumption) to the states.
'Most tax notices arise not from wrongdoing, but from unintentional mismatch or ignorance.'
Elon Musk's Starlink has got licence for satcom services in India, according to sources.
Manchester City and Chelsea both secured their Champions League places with victories on the final day of the English Premier League season and Newcastle United joined them despite stumbling to a last-day defeat.
The government on Monday scrapped 30-month old windfall profit tax on domestically-produced crude oil and on export of jet fuel (ATF), diesel and petrol following a decline in international oil prices. Minister of State for Finance Pankaj Chaudhary tabled a notification in Rajya Sabha scrapping the levy on crude oil produced by firms like state-owned Oil and Natural Gas Corporation (ONGC) and exports of fuels done by companies like Reliance Industries Ltd.
S&P Global Ratings on Tuesday cut India's GDP growth projections to 6.5 per cent for the next fiscal as it expects that economies in the APAC region will feel the strain of rising US tariffs and pushback on globalisation. In its Economic Outlook for Asia-Pacific (APAC), S&P said despite these external strains, it expects domestic demand momentum to remain solid in most emerging-market economies.
The GST Council on Saturday postponed a decision on cutting tax rate on life and health insurance premiums, officials said. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, decided that some more technicalities needed to be ironed out and tasked the GoM for further deliberations.
Investors should tilt their portfolios towards domestic-facing defensive sectors, which should help provide stability and shield them from geopolitical and tariff risks.
The remarks assume significance since Trump has repeatedly criticised the high tariffs charged by India and other countries on American goods.
'Investors should continue with their SIPs, especially during market corrections.' 'For those looking to start new SIPs, beginning with large-cap funds is a prudent strategy, followed by flexi-cap and value-oriented approaches.'
India's fresh restrictions on limiting access to Bangladeshi exports appear to be in response to Dhaka denying certain value-added items from the Northeast to enter that country through the land transit points.
Handbags, wrist watches, footwear and sportswear, priced above Rs 10 lakh will now attract 1 per cent Tax Collected at Source (TCS), as per a notification issued by the Income Tax department. TCS at 1 per cent rate is currently being levied on motor vehicles costing above Rs 10 lakh effective January 1, 2025.
S&P Global Ratings on Monday said several Asia-Pacific economies could face higher tariffs under the Trump administration, while India, South Korea, and Thailand could be most vulnerable to trade retaliation. In its report titled 'Asia-Pacific Economies Likely To Be Hit By US Trade Tariffs', S&P said economies like Vietnam, Taiwan, Thailand, and South Korea have relatively greater economic exposure to the US, meaning that tariffs, if imposed, would have the largest economic impact.
Trump's tariffs, falling shrimp prices, and fears of additional US levies, spark a crisis in Andhra Pradesh's politically vital aquaculture sector.
India's policy for agriculture trade must move commodity-by-commodity to gain maximum benefits as US President Donald Trump's 26 per cent tariff on exports from the country take effect, said agriculture economist Ashok Gulati in a recent policy paper.
Amid rising consumer complaints, the Central Consumer Protection Authority (CCPA) on Monday barred hotels and restaurants from levying service charge automatically or by default in food bills and allowed customers to file complaints in case of violation. The CCPA has issued guidelines for preventing unfair trade practices and violation of consumer rights with regard to levying of service charge. "No hotels or restaurants shall add service charge automatically or by default in the bill," CCPA chief commissioner said in the guideline.
The International Monetary Fund (IMF) has slapped 11 new conditions on Pakistan for the release of the next tranche of its bailout programme and warned that tensions with India could heighten risks to the scheme's fiscal, external, and reform goals, according to a media report on Sunday.
Commuters on national highways and expressways will need to pay more for their road journeys, as the National Highways Authority of India (NHAI) has increased toll charges by an average of 4 to 5 per cent on highway sections across the country. The revised toll charges for motorists on national highways across the country have come into effect from Tuesday, a senior highways ministry official told PTI.
Consumer durable companies in India have begun early-stage talks with US importers at a time when the tariffs levied on Indian products are lower than those on competitors such as China. While the discussions started some time ago, many believe that the Donald Trump administration's tariff measures will help Indian companies expand their presence in the US market.
'Increasingly, they treat gold as a financial asset in their portfolio rather than just as jewellery.'
All the BSE sectoral indices closed in the green. BSE Realty, Auto, Capital Goods and Industrials were lead gainers, jumping up to 5 per cent. IndusInd Bank was the lead gainer among Sensex shares, surging by 6.84 per cent. Tata Motors rallied 4.50 per cent. Larsen & Toubro, Axis Bank, Adani Ports, HDFC Bank, ICICI Bank and HCL Tech were also among the gainers. ITC and Hindustan Unilever were the only laggards.
Reserve Bank of India (RBI) Deputy Governor Swaminathan J criticised some non-banking financial companies (NBFCs) for lax loan appraisal practices and charging excessive interest rates, even as he acknowledged the sector's rapid expansion over the past decade, especially in recent years. "Unfortunately, some NBFCs seem to believe they can operate with weak underwriting in the pursuit of fast growth while levying excessive and unsustainable interest rates - sometimes disguised as upfront or processing fees - followed by aggressive recovery methods in case of default," Swaminathan said at the conference of NBFCs in Chennai last month.
The Trump trade shock is a chance to push long-overdue reforms, rather than tinker with tariffs to appease the US, suggests M Govinda Rao.
I'...additional concessions, such as opening government procurement, reducing agricultural subsidies, weakening patent protections, and allowing unrestricted data flows -- demands India has resisted for decades.'
Stock markets will be driven by further developments on the US-China tariff war front along with quarterly earnings announcements from IT majors Wipro and Infosys in a holiday-shortened week, analysts said. Global market trends and trading activity of foreign investors would also dictate market movement this week, experts noted.
The exchanges have also revised the instances which will be considered a technical glitch excluding instances where the broker is not at fault.
Chelsea beat London rivals Tottenham Hotspur 1-0 on Thursday thanks to a goal by Argentina's Enzo Fernandez
In a significant change to regulations, oil and gas regulator PNGRB has proposed a new policy of how tariffs for pipelines carrying gas to users will be determined, and proposed charging city gas entities selling CNG and piped cooking gas to households at the lowest rates.
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