A statement from the finance ministry said, 'it shall be the policy of the Sri Lankan government to suspend normal debt servicing...shall apply to amounts of affected debts outstanding on April 12, 2022'.
The domestic hospitality industry is looking to 'fly' in 2023 cashing in on India's G20 presidency, having received the 'oxygen' to run in 2022 after being crippled in the past two years by the pandemic. Domestic travel, especially the leisure segment, gave wind to the industry this year and is expected to continue into the next. Industry players believe that as international arrivals are also likely to pick up even further, the outlook for 2023 is buoyant.
'Each state and central government body may be asked to update its system to ensure PAN is used as a common identification to access its services.'
The income and profits shown by various BBC group entities are "not commensurate" with the scale of their operations in India and tax has not been paid on certain remittances by its foreign entities, the income tax authorities said Friday, a day after they ended a three-day-long survey operation against the British media organisation.
'India has the potential to do a lot more to take advantage of the time today where we stand to gain, geopolitically and in terms of market attractiveness.'
Fatca aims to track all US residents with non-US accounts and US citizens, too.
In a first of its kind move, the Indian Railways Catering and Tourism Corporation (IRCTC), the ticket booking arm of the Indian Railways, is looking to monetise its bank of passenger data while conducting business with private and government companies. IRCTC has a large bank of data related to every online railway ticket ever generated as it is the country's only railway ticketing platform, an IRCTC official told Business Standard. The public sector undertaking, which has sought the services of a consultant to assist with the monetisation process, plans to raise Rs 1,000 crore through this exercise.
'If you are going to have only a handful of telecom players on whom the entire dream of Digital India rests, it's important they are financially sustainable.'
Explaining the modus operandi, Assistant Commissioner of Police (Crime) Mukund Hatote told a Thane court that "best performing" staffers were given reward of up to Rs 1 lakh by the operators of the racket for making US nationals cough up money.
ITC, Sun Pharma, Maruti, M&M, Tata Motors, HCL Tech, Wipro, Infosys, HUL, Bharti Airtel and Reliance were among the major losers. Kotak Bank rose the most by 1.59 per cent, followed by IndusInd Bank, Bajaj Finance and Bajaj Finserv. L&T, SBI, TCS and HDFC Bank also closed higher.
To threaten China and Pakistan, and then to sharply cut back on military funding, bespeaks a remarkable trust in Beijing and Islamabad that is not borne out by anything they say or do, notes Ajai Shukla.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
India is the UK's second-largest market by volumes for Scotch, importing the equivalent of 136 million bottles, worth £146.2 million, in 2021.
The country's largest software services firm Tata Consultancy Services on Monday opened the fourth-quarter earnings season with a stellar set of numbers, crossing the Rs 50,000 crore revenue mark for the first time and earning a net income of Rs 9,926 crore, registering a growth of 7.4 per cent year-on-year. The company said its revenue jumped 15.8 per cent to Rs 50,591 crore in the reporting quarter on an annualised basis. Many analysts were expecting the Tata group flagship to report over Rs 10,000 crore of net income and revenue to cross the Rs 50,000 crore mark this quarter.
Cricket South Africa's (CSA) franchises have experienced profits for the first time since the country was reinstated into international cricket in 1991. CSA President Chris Nenzani attributed this achievement to heightened corporate governance and diligent operational processes at its affiliates. "Congratulations to all concerned with these outstanding results," Nenzani said.
Tata Consultancy Services (TCS) on Wednesday reported a 12.2 per cent rise in its consolidated net profit to Rs 9,769 crore for the December 2021 quarter, and announced Rs 18,000-crore buyback offer for its shareholders at Rs 4,500 per scrip. The country's largest software services firm had logged a net profit of Rs 8,701 crore in the year-ago period. Revenue of the Mumbai-based firm grew 16.3 per cent in the quarter under review to Rs 48,885 crore from Rs 42,015 crore in the corresponding period last fiscal, TCS said in a regulatory filing.
At the 45th Annual General Meeting of Reliance Industries (RIL) in August, chairman and managing director (CMD) Mukesh Ambani described the company as an "unputdownable book" with never-ending chapters of success. "Reliance grew from strength to strength because we internalised the founder's mindset of purpose, philosophy and passion," he said. Wednesday marked the 90th birth anniversary of RIL founder Dhirubhai Ambani.
Starting with a family, which had a dealership of Bajaj Auto's scooters, to becoming the owner of a household name in consumer appliances who could afford to have Bollywood superstar Shah Rukh Khan as the brand ambassador, Venugopal Dhoot's is a story of an aggressive small town businessman's pursuit to be on the top. Now arrested in connection with the ICICI Bank loan fraud case, Venugopal Dhoot during his heydays was not the one to simply sit on small achievements like Videocon becoming the largest television set manufacturer in India.
The Indian economy recovered from the Covid-induced downturn during 2022 and is poised for further improvement in the coming quarters though downside risks emanating from geopolitical tensions, strengthening dollar and elevated inflation will continue. The positive trajectory in the growth trend and improved fundamentals will help the nation in neutralising the impact of global headwinds which are expected to have a bearing on the country's exports in the months to come. The challenges before the government and the Reserve Bank in the new year would be to arrest inflation, check declining value of rupee against US dollar and promote private investment and growth, with a view to ensure that the country remains one the fastest growing major economies of the world.
Cohen, 52, was sentenced to 36 months in prison by the US District Court for the Southern District of New York.
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As of September, account for bulk of applications for availing of the government's amnesty scheme.
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The 'in substance' agreement with India under Foreign Account Tax Compliance Act was concluded on April 11, the US Treasury said.
The Centre on Monday defended in the Supreme Court the third extension of service granted to Enforcement Directorate chief Sanjay Kumar Mishra, asserting it was due to a peer review being conducted by the Financial Action Task Force (FATF) this year and said he will retire this November.
Suppose you had bought a television set that came with a one-year warranty. It breaks down two years after purchase. You can't react emotionally and say that such an expensive set should last for at least five-six years.
Wadia group-owned Go First will temporarily suspend flights on May 3 and 4 amid severe fund crunch, the airline's chief Kaushik Khona said on Tuesday.
Foreign brokerage Goldman Sachs on Monday said it expects new Finance Minister Arun Jaitley to peg the fiscal deficit target for FY15 at 4.3 per cent, up from the 4.1 per cent stated by his predecessor P Chidambaram.
Apple is loathe to use customer data to deliver targeted advertising.
The world body has released over $900,000 but said the Indian board should keep 30 per cent of the amount as cover for any tax demand from South African taxmen.
As Centre cedes power to states in indirect tax, it wants to all ystaffers' worry of little work.
The scam, which operated since 2013 through at least half a dozen call centres in Thane, targeted at least 15,000 US-based tax payers, who were allegedly conned by Indian tele-callers.
Benchmark indices turned highly volatile in the last hour of trade on Monday, with the Sensex falling 86.61 points after three days of gain amid heavy selling in IT counters and weak trends in global markets. The 30-share BSE benchmark declined 86.61 points or 0.16 per cent to settle at 54,395.23. During the day, it fell by 391.31 points or 0.71 per cent to 54,090.53.
'Winning a deal is one aspect, making sure that we are able to execute it profitably is also important' says Rajesh Nambiar.
The government on Wednesday notified its decision to permit 100 per cent foreign direct investment (FDI) under automatic route in the telecom services sector. In a press note, the Department for Promotion of Industry and Internal Trade (DPIIT) said foreign investment in telecom services will be subject to the condition of Press Note 3 of 2020. Accordingly, cases requiring prior government approval under the provisions of Press Note 3 will continue to be in place.
Russia has welcomed India's decision to not support the price cap on Russian oil announced by G7 and its allies and offered it cooperation on leasing and building large-capacity ships to overcome the ban on insurance services and tanker chartering in the European Union and Britain to continue buying discounted oil. The offer came as Russian Deputy Prime Minister Alexander Novak held a meeting with the Indian Ambassador to Moscow, Pavan Kapoor, on Friday. "The Deputy Prime Minister welcomed India's decision not to support the price cap on Russian oil, which was imposed on December 5 by the G7 countries and their allies," the Russian foreign ministry said in a statement.
The Centre has asked the state governments to nominate cities and towns for inclusion under Smart Cities Mission as the first stage of the competition has started.
Tata Neu, the super app from the Tata group, has been downloaded by over 7 million users within seven weeks of its launch. And, the company wants to ramp this up to 150 million users in the next two years, said senior executives of Tata Digital in an internal magazine of the Tata group. According to data from App Annie, a mobile app tracking platform, the Tata Neu app has been downloaded by over 11 million users.
The referendum by the Russian authorities on the annexation of occupied territories of Ukraine was largely seen as a "sham referendum" and has been widely criticised by various countries.
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.
If all 102 grounded planes could fly, there will theoretically be 400 more Delhi-Mumbai flights every day.
Can this growth in GST collection be sustained in the coming years? asks A K Bhattacharya.
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