Business News
Clues by Admin • 5 Mar 2018, Monday
Worldwide stock markets have slumped due to the rising fear of a global trade war and political instability in Europe. Amid lack of positive trigger for equity market, low risk assets including the gold, the yen and German bonds have ... Continue Reading
Clues by Admin • 3 Mar 2018, Saturday
The aviation sector is rapidly expanding its network beyond the biggest cities in the country. The UDAN RCS (Regional Connectivity Scheme) was launched in October 2016 to provide affordable regional air connectivity. As part of that plan, several new airports were ... Continue Reading
Read More at The Economic Times
Clues by Admin • 2 Mar 2018, Friday
To promote digital transactions, the Indian Railways announced that Merchant Discount Rate (MDR) charges will not be levied on passengers for booking railway tickets (at the railway ticketing counters as well as through IRCTC ticketing website) on payment made through ... Continue Reading
Read More at ANI
Clues by Admin • 2 Mar 2018, Friday
Malaysian tycoon and its 3rd richest man, T. Ananda Krishnan’s holding company, Maxis Communications Bhd, is all set to lose total investments value of about $7 billion in Aircel made through shareholder advances and purchase of redeemable preference shares ... Continue Reading
Read More at The Economic Times
Clues by Admin • 2 Mar 2018, Friday
Aimed at safeguarding the interests of the domestic edible oil crushing industry and oilseed farmers in India, the Ministry of Finance increased the import duty on refined and crude palm oil to the highest levels in recent years. In ... Continue Reading
Clues by Admin • 2 Mar 2018, Friday
The CBI has filed a disproportionate assets (DA) case against former chairperson-cum-managing director of United Bank of India, Archana Bhargava, for allegedly amassing assets worth Rs 3.63 crore, more than her known sources of income between 2004 and 2014. CBI has alleged that ... Continue Reading
Read More at Livemint
Clues by Admin • 2 Mar 2018, Friday
The Food Safety & Standards Authority of India (FSSAI) has drafted regulations for restaurants and eateries making it mandatory for them to recruit a food safety officer in order to obtain a licence. The FSSAI also made it mandatory for ... Continue Reading
Read More at The Economic Times
Clues by Admin • 2 Mar 2018, Friday
In one of the major instances of a co founder quitting a start up, Pankaj Chaddah, co-founder of online restaurant aggregator and food ordering app Zomato resigned from the company on Thursday. Pankaj Chaddah and Deepinder Goyal had co founder ... Continue Reading
Read More at The Economic Times
Clues by Admin • 2 Mar 2018, Friday
The National Stock Exchange (NSE) plans to ease listing norms for a few mature start up enterprises, in an effort to revive its dedicated start-up listing platform, which has struggled to generate interest. Vikram Limaye, MD and CEO, NSE said ... Continue Reading
Read More at Livemint
Clues by Admin • 1 Mar 2018, Thursday
In a significant move, the Cabinet today approved setting up of the independent regulator National Financial Reporting Authority (NFRA) that will have far reaching powers to act against erring auditors and auditing firms.  The decision to constitute NFRA, as ... Continue Reading
Read More at The Economic Times
The Noisy News
  • Business News

    Yes Bank chairman Ashok Chawla resigns over corruption charges

    Ashok Chawla, chairman of Yes Bank Ltd, stepped down from the board on Wednesday after being named in a corruption chargesheet by the Central Bureau of Investigation (CBI) related to the Aircel-Maxis case. Chawla cited personal reasons behind the resignation. He is also the Chairman of the National Stock Exchange of India Ltd. “The bank shall in due course announce the appointment of a chairman, post RBI’s approval,” Yes Bank said. Yes Bank is already trying to find a replacement for CEO Rana Kapoor, whose term has been cut short by RBI.

  • Business News

    Vodafone Idea posts quarterly loss, says to raise Rs 25,000 crore

    Country’s largest telecom operator by subscribers and revenue, Vodafone Idea Ltd posted losses of Rs 4,974 crore for the quarter ended September 2018, its first quarterly results since merger. Revenue from operations was Rs 7,664 crore. The company is looking to raise Rs 25,000 crore capital in which promoters Vodafone Group will chip in Rs11,000 crore and Aditya Birla Group Rs7,250 crore.

  • Business News

    Levi Strauss seeks to raise up to $800 million in IPO: Report

    Levi Strauss & Co., the global US jeans maker, may soon come out with an initial public offering (IPO) in the first quarter of 2019 to raise $600 million to $800 million, CNBC reported. The company is aiming for a valuation of more than $5 billion, according to the report and is working with Goldman Sachs Group Inc. and JPMorgan Chase & Co. on its IPO plans. Today, the company, which is closely held by descendants of the family of Levi Strauss, sells its apparel across the globe and reported 2017 sales of $4.9 billion.

  • Business News

    CBDT may soon reward honest tax payers!

    The Central Board of Direct Taxation (CBDT), is evaluating a proposal that might reward honest and consistent taxpayers by giving them a priority in availing public services such as airports, railway stations, highway toll plazas, and tax-related works, a tax official told. CBDT even formed a committee to look into the matter. Prime Minister Narendra Modi, during a conference with senior tax officers last year, had urged the department to enhance the taxpayer services and ensure that the honest taxpayers were given due importance. 
     

  • Business News

    Direct tax collections to exceed target in FY19, says CBDT Chairman Sushil Chandra

    Direct tax collection has already crossed Rs 5 lakh crore and will exceed the budgeted target of Rs 11.5 crore set for the current fiscal, CBDT Chairman Sushil Chandra said Wednesday. He further said that so far the I-T department has issued refunds to 2.15 crore assessees amounting to Rs 1.15 lakh crore. This year so far 6.02 crore ITRs have been filed with the Income Tax Department. The number of direct taxpayers was 3.8 crore when the Modi-led government took office in May 2014.

  • Business News

    Flipkart seeks to soothe employee nerves after Binny Bansal's exit

    A day after Binny Bansal stepped down as Group CEO following personal misconduct allegations, various team heads at Flipkart are extensively engaging with staff to address their concerns and queries related to business and operations. However, an independent investigation conducted against Bansal following allegations of "serious personal misconduct” did not find evidence to corroborate the allegations. The investigation was set up after Walmart was approached in July this year by the complainant, a former associate engaged with Flipkart. Walmart had picked up 77% stake in the Bengaluru-based firm for $16 billion.

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