Business Standard - July 09, 2024
Business Standard - July 09, 2024
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July 09, 2024
Draft tax law likely in Budget for minimum levy on MNES
India is preparing a draft legislation on the global minimum tax for multinational enterprises (MNEs) which could be proposed in the Union Budget, to be presented on July 23, and pave the way for changes to the country's tax laws, said two people with direct knowledge of the matter.
2 mins
Zero registration fee for hybrid cars in UP raises the bar in NCR
The on-road prices of strong hybrid cars have decreased by up to ₹4 lakh in Uttar Pradesh after the state government decided to waive registration fee on them in a bid to promote green technology, according to automobile industry sources.
2 mins
India Inc's Q1 show may remain muted
Top line, bottom line growth may be at multi-quarter low
2 mins
Sun Pharma open to acquisition in specialty drugs
Sun Pharmaceutical Industries, country's largest drugmaker by market share, said it is open to exploring acquisitions in the global specialty portfolio as it closed financial year 2023-24 (FY24) with a strong net cash position of $2.4 billion.
1 min
Nestlé India continues to face food inflation bogey
Food inflation, coupled with volatile commodity prices, remains a major challenge facing Nestlé India, the packaged food major said during its 65th annual general meeting held on Monday.
1 min
Ola Maps navigating beyond 'western apps'
Bhavish Aggarwal urges developers to shift from Google Maps, offers ₹100 crore in credits
2 mins
FMCG firms likely to hitch a ride on rural uptick in 01
Volume growth expected to witness a sequential recovery
2 mins
MobiKwik sees uptick in May wallet numbers
Fintech major MobiKwik's PPI (prepaid payment instrument) wallets have seen their market share expand to about 12.11 per cent in May, up from 9.3 per cent in January, in terms of total number wallets.
1 min
Merc looks to charge up India play
Posts 60% rise in battery EV sales
1 min
Centre likely to roll out EV policy guidelines by September-end
Plan includes provisions for reduced duties on imported cars contingent on committed funding
2 mins
Tata airlines complete harmonising operating process ahead of merger
Air India (A-I) on Monday announced completion of harmonising operating procedures across key functions, including alignment of supporting manuals, at the four Tata group airlines.
1 min
Govt to push for more RE connectivity at state level
The power ministry is planning to push states to connect the upcoming renewable energy (RE) projects to the state's grid and not with the national grid, a move aimed to improve state-level power transmission infrastructure and facilitate the integration of RE capacities across all the regions.
2 mins
Four soldiers killed in J&K terrorist ambush
Four army persons were killed and six others injured on Monday when terrorists ambushed their vehicle in the remote Machedi area of Jammu and Kashmir's Kathua district, officials said.
1 min
Economic vision, not stimulus, in Modi 3.0 Budget: Goldman Sachs
The upcoming Union Budget is likely to stick to the path of fiscal consolidation, said analysts at Goldman Sachs in a recent note, who expect Finance Minister Nirmala Sitharaman to focus on the broad economic agenda rather than doling out minor stimulus measures.
1 min
Agri input firms see demand surge as sowing gathers pace
Kharif plantation till July 5 over 14% higher than area covered during the same period last year
2 mins
Application window to be open for 3rd time
The government will reopen the application window for the production-linked incentive (PLI) scheme for white goods (ACs and LED lights) for 90 days starting July 15, the Department for Promotion of Industry and Internal Trade (DPIIT) said on Monday.
1 min
168 mn workforce added since FY18, 46.6mn in FY24
RBI data shows services sector absorbing those moving out of agriculture
1 min
Deposits grew slower than loans
Most lenders that have reported their April-June business update posted slower growth in deposits sequentially as compared to the loan growth in the April-June quarter of 2024-25 (FY25).
1 min
NBFCs seek revisit of membership guidelines for SROS
The Finance Industry Development Council (FIDC) has requested the central bank to reconsider the membership guidelines for self-regulatory organisations (SROs) for nonbanking financial companies (NBFCs).
1 min
Rural banks shift focus to product diversification
After consolidating capital adequacy, improving profitability and asset quality, regional rural banks (RRBs) will now focus on diversification of lending products to small and medium enterprises (SMEs) for value addition in agriculture chain and allied sectors.
2 mins
Higher share of Ulips likely to weigh on life insurers' profit margin
Increased sale of Unit-Linked Insurance Plans (Ulips) is set to weigh on the margins of listed life insurance companies in June quarter of FY25 (Q1FY25) despite higher premium accumulation on a favourable base.
1 min
Final call soon for states, UTs to avail of MSME scheme benefits
The government is planning to issue a final call to four states and seven Union Territories (UTS) that are yet to submit their strategic investment plan (SIP) required to avail of funds to revitalise the micro, small, and medium enterprises (MSMEs), a senior government official said.
1 min
10th round of OALP bidding for oil & gas assets likely in Aug
The 10th round of bidding for oil and gas assets under the Centre's Open Acreage Licensing Policy (OALP) is expected to commence next month, petroleum and natural gas ministry officials said.
1 min
Stronger ties will greatly benefit us: PM in Russia
Kremlin says Modi, Putin will hold both private, extended talks today
2 mins
Remittances below $25K also need Form A2 now
I have been making outward remittances to my son studying abroad for his maintenance through my bank.
2 mins
Xi urges world powers to facilitate Russia-Ukraine direct dialogue
Chinese President Xi Jinping called on world powers to help Russia and Ukraine resume direct dialogue during a meeting on Monday with Hungary's Prime Minister Viktor Orban, state broadcaster CCTV reported.
1 min
France in turmoil: Left, Far-Right, and Centre
LEFT-WING BLOC COMES FIRST BUT NO MAJORITY IN PARLIAMENT | ATTAL TO STAY PM FOR NOW TO ENSURE COUNTRY'S STABILITY
2 mins
Boeing to plead guilty to criminal fraud charge
Boeing will plead guilty to a criminal fraud charge stemming from two crashes of 737 Max jetliners that killed 346 people after the government determined the company violated an agreement that had protected it from prosecution for more than three years, the Justice Department said Sunday night.
1 min
'Get Britain building again': Reeves unveils Labour govt's growth plan
Chancellor of the Exchequer Rachel Reeves, in her first major speech on Monday, vowed to \"get Britain building again,\" as she unveiled a slew of planning reforms including restoring mandatory local housing targets ditched by the previous Conservative government and ending an effective ban on onshore wind farms.
2 mins
THOUSANDS OF SAMSUNG WORKERS WALK OUT IN HISTORIC STRIKE
Thousands of Samsung Electronics workers walked off the job Monday to stage a rally demanding better pay, beginning the biggest organized labor action in the South Korean conglomerate's half-century history.
1 min
I Am Not Going Anywhere, Biden Tells Democrats
US President Joe Biden vowed to stay in the presidential race on Monday, saying he is confident the average voter still wants him on the Democratic ticket.
1 min
French revolution
Hung Parliament points to turmoil ahead
2 mins
The Nagarwala scandal, unreconstructed
On24 May 1971, Ved Prakash Malhotra, then the chief cashier at the Parliament Street, New Delhi, branch of State Bank of India, took out ₹60 lakh from the cash vault to deliver it to a courier on the basis of what he claimed were instructions from the then Prime Minister of India, Indira Gandhi and her secretary, PN Haksar.
3 mins
Data analysis and GST policy
Data, it is said, is the new oil.
4 mins
MNC selldowns
As multinational corporations capitalise on India's valuation premium, there are reasons for caution as well
4 mins
Empowering consumers
The proposed food regulation will help them
2 mins
85% of SMID stocks on bull run: Trend or blip?
After a brief lull in February and March due to the Securities and Exchange Board of India's directive for asset management companies to conduct stress tests, small and midcap (SMID) stocks have surged.
2 mins
MFs ride high: NFOs pick up on market rally, economic hope
29 launches since June 1, nearly half of previous five months' total
2 mins
Downgrades may keep Titan under pressure
Titan Company released a disappointing pre-quarter Q1FY25 business update which has led to downgrades.
2 mins
Valuations frothy? Profit, mcap moved in sync in 5 yrs
As benchmark indices continue to reach new highs almost every other day, a heated debate rages on: Have stocks outpaced their fundamentals, and can earnings keep up with these valuations? Only time will tell if the earnings growth potential justifies the Nifty 50's current valuation, which hovers at nearly 25 times its FY24 earnings.
2 mins
Adoption worry looms for Bajaj Auto CNG bike
Gas infra needs to be ramped up for wider acceptance: Analysts
3 mins
COMING CLEAN ON NEET
As the Supreme Court begins to hear petitions on NEET-UG, here is a look at the ecosystem it has spawned, and the controversy
5 mins
Retest if leak widespread: SC
Make full paper leak disclosure by July 11, apex court directs National Testing Agency
1 min
51 flights cancelled, train services hit in Mumbai
City records heaviest single-day July rainfall since 2019
2 mins
Business Standard Newspaper Description:
Editor: Business Standard Private Ltd
Categoría: Newspaper
Idioma: English
Frecuencia: Daily
Business Standard is India's leading business daily.
A preferred choice of serious business readers, Business Standard is acknowledged as a quality leader.
Business Standard stands for reporting that stresses accuracy and credibility, commentary that is informed, independent and fair, and journalism that is rooted in ethical conduct and defined by a sacrosanct bond with the reader. All Business Standard journalists sign on to a code of conduct that is available on the website.
Business Standard's editorial team is led by Shyamal Majumdar.
The English newspaper is published from 12 centers - New Delhi, Mumbai, Kolkata, Bengaluru, Chennai, Ahmedabad, Hyderabad, Chandigarh, Lucknow, Pune, Kochi and Bhubaneswar. It is also printed from Bhopal.
The Hindi Business Standard is published from eight centres - New Delhi, Mumbai, Kolkata, Patna, Lucknow, Bhopal, Chandigarh and Raipur.
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