Business
Cabinet Abolishes FIPB, Approves Strategic Defence Partnerships
The Union cabinet on Wednesday decided to abolish the Foreign Investment Promotion Board (FIPB) and approved strategic defence partnerships to boost local manufacturing.
GST Cloud Hangs Over Excise Mop-up as Dealers Hold up Tight
Excise collections may take a hit as dealers are refraining from purchasing goods from manufacturers as they are not sure about tax credits and rates under GST, which is slated for July 1 launch.
Invoice Matching Mechanism in GST to Check Frauds: Arun Jaitley
"One of the most important advantages of adopting this model is for curbing the possible tax evasion on account of fake invoice frauds," the finance minister said in response to the concerns raised by Congress Rajya Sabha MP Digvijaya Singh.
Dell Keen to Set Up Data Centre in Andhra Pradesh's Amaravati
Tech giant Dell has expressed interest in setting up a data centre in this upcoming Andhra Pradesh capital.
PIA to Suspend Mumbai-Karachi Flight From May 11
Pakistan International Airlines (PIA), which operates a weekly flight between Mumbai and Karachi, will suspend its service from May 11.
Govt Looks to Pump Rs 30k Crore in LPG Production, Distribution
The government is eyeing close to Rs 30,000-crore investment for expansion of LPG production and distribution network in next three years as it widens cooking gas coverage by giving out a record number of connections.
India Should be a Standard Setter, Not Follower: Nirmala Sitharaman
In this regard, she cited the example of global standards on length and weight of mangoes and wondered how India accepted those norms. She said: "India has exemplary varieties of mango, grapes and banana. Uniformity (in standards) can go against it."
Rupee Down 4 Paise Against Dollar in Early Trade
Moreover, the US dollar's gain against other currencies overseas and a lower opening of the domestic equity market put pressure on the rupee, forex dealers said.
Delay in Quota Reforms to Erode IMF's Credibility, Says Arun Jaitley
Finance Minister Arun Jaitley has expressed disappointment over the slow pace of IMF quota reforms and said any further delay would erode the legitimacy and credibility of the multi-lateral organisation.
Nirmala Sitharaman Refers to US Cos in India as Protectionism Raises Concerns
Concerned over Indian companies getting hit by tightening of US visa rules, Union Commerce Minister Nirmala Sitharaman on Thursday said the "whole debate" has to be expanded to include several American firms that are earning their profits in India.
Former Infosys CFO Goes to Arbitration Over Rs 12 Crore Severance Pay
The former chief financial officer of Infosys, Rajiv Bansal, has approached the Arbitration Tribunal to claim the pending Rs 12 crore of his severance pay.
Revised FDI Norms May Double Private Equity Inflow in Realty Sector
The modification of the 3-year lock-in period basically opens the portals wide for FDI funds who were deterred by this clause so far.
Infosys Q4 Profit Falls 2.8%; IT Giant to Pay Rs 13,000 Crore to Shareholders
The company expects its 2017-18 revenue to grow between 6.1% and 8.1% in dollar terms and 6.5-8.5% in constant currency terms.
Rupee Softens 11 Paise Against US Dollar
The rupee shed 11 paise to 64.61 against the US dollar in early trade on Wednesday following fresh demand for the American currency from banks and importers.
Markets Make a Slow Start, Macros Take Focus
Stocks held out hope on Tuesday as the flagship Sensex made a tepid recovery ahead of release of key macroeconomic data and start of March quarter earnings season due later this week amid a weak trend in Asia.
Sensex Bounces 125 Points, Nifty Above 9,200 Early on
The quarterly earnings due to start this week provided markets a crucial leg-up on Monday as the Sensex recouped 125 points and the Nifty topped 9,200 again amid a mixed Asian scenario.
