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Cabinet nod to in-principle divestment of Air India

New Delhi, June 29  The Union cabinet on Wednesday gave in-principle approval for Air India’s stake divestment, Finance Minister Arun Jaitley said here. “In-principle approval for Air India divestment has been given,” the minister said...

Textile traders extend 3-day strike against GST

Kolkata, June 28 (IANS) The ongoing three-day strike of textile traders against imposition of GST, was on Wednesday extended till June 30 after getting support from the Bhartiya Udyog Vypar Mandal which has also called for a trade shutdown on that day. “Our...

CBDT signs Advance Pricing Agreements with Indian taxpayers

New Delhi, June 28 (IANS) The Central Board of Direct Taxes (CBDT) has entered into five unilateral Advance Pricing Agreements (APAs) with Indian taxpayers in June along with a bilateral APA involving the United Kingdom, the Finance Ministry said on...

India’s domestic travel market to reach $48 bn by 2020 : Report

New Delhi, June 28 (IANS) India’s domestic travel market is expected to grow at 11-11.5 per cent to reach $48 billion by 2020, says a report. The report by Google India, along with Boston Consulting Group (BCG), titled “Demystifying the Indian...

Unions call for strike on August 22 against banking reforms, mergers

Chennai, June 28 (IANS) The United Forum of Bank Unions (UFBU) has decided to strike work on August 22 against reforms in the banking sector, said a top leader of the All India Bank Employees’ Association (AIBEA) on Wednesday. “The UFBU meeting...

L&T’s construction arm bags orders worth Rs 2,552 cr

Mumbai, June 28  India-based multinational L&T on Tuesday said its construction arm has bagged orders worth Rs 2,552 crore across various business segments. According to the company, its transportation infrastructure and water effluent treatment...

TDS, TCS provision for government, e-commerce operators postponed

New Delhi, June 26 (IANS) With just five days to go for the roll-out, the government has postponed the provision relating to one per cent Tax Deduction at Source (TDS) and Tax Collection at Source (TCS) for two categories of deductors — government,...

Infosys pays $1 million for ‘visa abuse’ in US

Bengaluru, June 24  Global software major Infosys Ltd paid $1 million (Rs 65 lakh) to settle a litigation on the alleged abuse of visa rules, said New York State Attorney General Eric T. Schneiderman on Friday. “Infosys has agreed for a $1 million...
Wind, solar projects to lead to three lakh new jobs: Study

Wind, solar projects to lead to three lakh new jobs: Study

New Delhi, June 22  More than 300,000 new workers can be employed in wind and solar jobs and more than one million total employment opportunities can be created in achieving India’s ambitious clean energy goals to install 160 GW of renewable power...

India’s Q1 GDP growth slowest since Q4 2014: Fitch Ratings

Mumbai, June 20 (IANS) Global credit rating agency Fitch Ratings said the 6.1 per cent year-on-year (yoy) growth of Indian gross domestic product in the first quarter of 2017 was the slowest growth rate since the fourth quarter of 2014. The rating agency...

RBI’s move on NPA resolution credit-positive for banks: Moody’s

Mumbai, June 19  Global credit rating agency Moody’s Investors Service on Monday dubbed as ‘credit-positive’ for Indian banks the RBI plans to resolve 12 large bank loan accounts accounting for 25 per cent of the banking system’s...

Infosys appoints new global heads for RCL, manufacturing

Bengaluru, June 17  IT major Infosys on Friday appointed Karmesh Vaswani as the Global Head of Retail, CPG and Logistics (RCL) and Nitesh Banga as Global Head of Manufacturing. Vaswani and Banga will replace Sandeep Dadlani, President and Head of MRCL,...
RIL, BP to invest Rs 40,000 crore in energy projects in India

RIL, BP to invest Rs 40,000 crore in energy projects in India

New Delhi, June 16  Reliance Industries (RIL) and British energy major BP on Thursday annnouced the creation of a joint venture energy vertical to work across the entire value chain, involving investment of $6 billion, or Rs 40,000 crore. This would...
India top exporter of information, computer, telecom services

India top exporter of information, computer, telecom services

Soumitra Dutta, the dean of Cornell University SC Johnson College of Business, from left, World Intellectual Property Organisation (WIPO) Director-General Francis Gurry and Bruno Lavin of INSEAD at the release of the Global Innovation Index for 2017 in...

Cabinet approves bill on bankruptcy resolution for financial sector

New Delhi, June 14 (IANS) In a bid to protect clients of financial service providers in financial distress, the Union Cabinet on Wednesday approved the introduction of a bill that will lay out a resolution framework for financial sector entities in dealing...

CCI approves GE-Baker Hughes’ oil-gas business merger

New Delhi, June 14 (IANS) The Competition Commission of India (CCI) on Wednesday said that it has approved the proposed merger of GE’s oil and gas business and Baker Hughes’ oil field services business. In a tweet, the CCI said: “@CCI_India...

Microsoft releases new Windows XP security patches

New York, June 14  In the wake of the “WannaCry” ransomware attack, Microsoft on Tuesday issued a “highly unusual” patch for Windows XP to help prevent the spread of the malware that infected at least 75,000 computers globally. “In...

GST : CBEC set to be Central Board of Indirect Taxes and Customs

New Delhi, June 13 (IANS) Reiterating that preparations are in full swing for rolling out GST on July 1, the Central Board of Excise and Customs (CBEC) said on Tuesday that, along with the states, the department has increased its outreach programmes...

India’s YoY factory output up 3.1% in April

New Delhi, June 12 (IANS) A healthy performance of the manufacturing sector accelerated India’s April factory output on a year-on-year (YoY) basis, official data showed on Monday. The factory output for April, as per the new Index of Industrial...

Banks have to separately register in each state under GST : Adhia

New Delhi, June 12 (IANS) Banks will need to make registrations in each state separately under the GST law so that they are ready for the new indirect tax regime roll-out from July 1, Revenue Secretary Hasmukh Adhia said on Monday. “Banks will...
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