Business Standard - September 05, 2024

In this issue

September 05, 2024

E-invoice mandate may cover B2C transactions

Businesses across the country may soon be required to issue electronic invoices, or e-invoices, directly to consumers for the sale of goods and services.

2 mins

Festival-ready: Flipkart launches 11 fulfillment centres

New Delhi, 4 September Ahead of its upcoming flagship The Big Billion Days (TBBD) sales this year, homegrown ecommerce major Flipkart has launched 11 new fulfillment centres (FCs) across nine cities to meet the anticipated high demand during the festival season.

1 min

RIL gets full quota of ACC PLI-II scheme

Oil-to-telecom behemoth Reliance Industries Limited (RIL) has been awarded the complete capacity of the Advanced Chemistry Cell (ACC) offered under the second tranche of the production-linked incentive (PLI) scheme.

2 mins

2 offshore crypto firms may restart ops by year-end

The Financial Intelligence UnitIndia (FIU-India) may grant clearance to two more offshore crypto exchanges to resume operations in India by March next year, following its nod to Binance and KuCoin.

1 min

'Common carrier' may get legal status

PNGRR ACT TWEAKS ON THE CARDS New Delhi, 4 September A long-pending amendment to the Petroleum and Natural Gas Regulatory Board (PNGRB) Act, 2006, expected in the coming months, will give the sector regulator enough legal teeth to enforce its plan to reclassify natural gas pipelines as \"common carriers\", a top PNGRB official told Business Standard.

3 mins

E-gaming, cryptos add little in terms of social value: CEA

Chief Economic Advisor (CEA) V Anantha Nageswaran on Wednesday said online gaming, ultra-processed foods, and crypto trading businesses could be compliant in the spirit of law but they add little in terms of social value.

1 min

Star Health to join hands with foreign insurers for inward reinsurance

Star Health and Allied Insurance is looking to collaborate with insurers in Africa and West Asia for inward reinsurance opportunities through GIFT City, said Anand Roy, managing director, Star Health and Allied Insurance on Wednesday.

1 min

Crude imports from US rebound as Russia sanctions get tighter

Even as Russia and West Asia have been slugging it out for market share in India to sell their crude oil, the US is quietly making its moves on the sidelines.

2 mins

'J&K statehood snatched to help two billionaires'

Kick-starting Congress' campaign in poll-bound Jammu and Kashmir (J&K), party leader Rahul Gandhi on Wednesday alleged that the Bharatiya Janta Party (BJP)-led central government has scrapped the J&K's statehood to \"snatch\" the rights and resources of the locals and to benefit outsiders, especially the country's top \"two billionaires\" by giving them contracts.

1 min

Aparajita Bill: Probe in 21 days, trial in 30

Flacing protests in West Bengal and criticism from the Supreme Court over the rape and murder of a junior doctor in Kolkata's RG Kar Medical College and Hospital on August 9, the Mamata Banerjee-led state government has over the past few weeks tried to put the onus of arresting the perpetrators of the crime and ensuring justice is meted out to them expeditiously on the Centre.

2 mins

Blackstone to acquire AirTrunk in $16 bn deal

Blackstone will buy Australian data centre group AirTrunk for an implied enterprise value of over A$24 billion ($16.10 billion), it said on Wednesday, in what would be Blackstone's largest investment in the Asia Pacific region.

1 min

Vistara's legacy in Air India

This November, Vistara will be the second major airline brand in India to fade out within a space of five years.

3 mins

Not just lateral appointments

India needs major administrative reforms for a more professionally trained civil service

4 mins

Research for climate-resilient milch cattle takes a step forward

In a bid to keep milk flowing amid severe heatwaves, NDRI develops gene-edited buffalo embryo

2 mins

Computing of household investments in securities market to be overhauled

In FY23, it came to ₹84 trn against RBI's calculation of ₹23.6 trn, a stark difference of ₹60.15 trn

1 min

Nifty snaps 14-day winning streak

Benchmark Nifty took a breather after a 14-day winning run while Sensex closed lower by 202 points on Wednesday due to profit-taking in IT, banking and metal shares amid weak global trends.

1 min

GIC Re OFS gets bids worth $2,300 cr

The offer for sale in General Insurance Corporation of India (GIC Re) garnered bids worth nearly ₹2,300 crore on Wednesday, the first day of the issue.

1 min

Quant MF schemes exit HDFC Bank

Quant Mutual Fund (MF) schemes have likely sold all of their holdings in HDFC Bank, months after investing big in the country's largest private lender.

1 min

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