CATEGORIES

Aviva India cleared brokerage model queried by tax officials

AN AVIVA BUSINESS model that tax officials say was used to pay agents unlawful commissions from 2017 to 2023 was rolled out internally in 2013 and approved in writing by top India executives, a confidential company document shows.

SpiceJet clears staff's pending PF dues

DOMESTIC CARRIER SpiceJet on Friday said it has cleared all the pending employee provident fund (PF) dues of its employees, amounting to ₹160.07 crore.

Tax blow to Swiss arms of India Inc

AT PRESENT, THE MFN clause in the DTAA enables Indian subsidiaries in Switzerland to pay a lower rate of withholding tax to Swiss authorities on certain types of incomes, namely dividends, interest, royalties, or fees for technical services.

Wardwizard launches e-two, three wheelers

VADODARA-BASED WARDWIZARD Innovations & Mobility on Friday announced the launch of four electric three-wheelers and an electric scooter to expand its offering in the two keenly-contested segments.

Nuvama Wealth picks up Oyo shares worth ₹100 cr

Nuvama Wealth and Investment has acquired shares worth ₹100 crore in Oravel Stays, the parent company of Oyo, through a secondary transaction at ₹53 per share that valued the travel-tech unicorn at $4.6 billion, according to sources.

Shorter furloughs, weak Re may aid IT firms' Q3 margins

CLIENTS SUSPEND OPERATIONS DURING CHRISTMAS, NEW YEAR

Apple to assemble AirPods in Telangana by early 2025

APPLE WILL BEGIN producing its AirPods wireless earphones in India for the first time early next year, marking a milestone in the iPhone maker's steady push to diversify beyond China.

Tier 4 towns, Gen Z boost Meesho's orders

E-COMMERCE UNICORN MEESHO, which primarily serves shoppers beyond tier 1 cities and metros, has recorded a 35% year-on-year rise in the number of orders placed on its platform this year.

SaaS startups shift focus to tier 2, 3 cities

SAAS (SOFTWARE AS a Service) startups, once primarily targeting global markets, are increasingly turning their attention to India's tier 2 and 3 cities to fuel growth.

PV sales grow 4% in Nov, but two-wheelers see 1% decline

HIGH INVENTORIES

ONGC likely to list green energy arm in 2025-26

STATE-RUN ONGC is likely to come out with an initial public offering (IPO) for its green energy subsidiary, ONGC Green in the next financial year 2025-26, according to the company's Director (Exploration), Sushma Rawat.

Carlyle mulls $1-bn IPO of Quest Global

MARKETS ON A HIGH

Chief secys' meet to focus on development

● The conference will delve into six core areas

Allu Arjun arrested, given bail on way to jail

TELUGU FILMSTAR ALLU Arjun was arrested on Friday morning from his house in Hyderabad in connection with a stampede at the premiere of his film, Pushpa 2, earlier this month.

PF withdrawals via ATMs likely from early next year

● Current checks and balances may get reduced

Cong has always chosen power over Constitution, says Rajnath

● No problem with caste census, minister says

Parliamentary panel calls for higher MGNREGA wages

FLAGGING LOW WAGES under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), a Parliamentary panel has asked the rural development department to increase wages in the scheme by linking it to a suitable index commensurate with inflation.

Award of highway projects may jump 50% this fiscal

The government has set an ambitious target of awarding 12,900-km highway projects in the current financial year, as it seeks to address a slowing of construction activity.

Capex pace to be kept in FY26 too: Minister

THE CENTRE WILL strive to achieve the capital expenditure target of ₹11.11 lakh crore in FY25, minister of state for finance Pankaj Chaudhary said on Friday.

Table tennis body anti-competitive: CCI

The Competition Commission of India (CCI) has issued a cease-and-desist order against the Table Tennis Federation of India (TTFI) and its affiliates for the abuse of dominant position in the market.

MoSPI prepares 5-year roadmap with focus on AI

THE MINISTRY OF statistics and programme implementation (MoSPI) has devised a five-year 'vision document', likely to be launched in April 2025, creating a roadmap for improvement of the statistical system in the country.

Tax blow to Swiss arms of India Inc

THE TAX LIABILITY OF several Indian companies, which have operations in Switzerland, including bellwether IT and pharma firms, may rise with the central European country announcing a decision to increase the withholding tax on dividends their Swiss arms pay to Indian parents under the 'source rule', from 5% to 10%, effective January 2025.

Swiggy does a Zomato with Scenes

IN A STRATEGIC move to bolster its events and ticketing business, food delivery giant Swiggy has launched a new service called 'Scenes' under its out-of-home vertical Dineout.

V-shaped recovery for indices

● Sensex recovers 2,100 points from day's low

Algo trade for retail coming

● Sebi plans overhaul in framework to ensure safeguards

Why international stars are pulling out of Hockey India League en masse

IN OCTOBER, WHEN the Hockey India League (HIL) player auctions were held, 96 international stars were snapped up by eight men and four women franchises. Now, with a fortnight left for the competition to begin, more than one-fourth of them have pulled out.

Pushpa 2 hits ₹1,000-crore milestone at global BO

ALLU ARJUN'S PUSHPA 2: The Rule has hit the milestone of ₹1,000 crore at the global box office in just six days, making it the fastest Indian film to register the feat.

US hotels welcome Indian tourists with chai, samosa

US HOTELS AND travel companies are aiming to tap a surge in Indian tourists to boost revenue as domestic leisure spending falters and demand from East Asian countries remains below pre-pandemic levels.

EY case puts spotlight on white-collar labour laws

Decades-old laws largely focused on blue-collar workers

'India should stop playing footsie with everyone and say loudly that we are part of an open world'

A Tan Adda held in Mumbai, political analyst and CNN news host Fareed Zakaria spoke on what Trump's win means for the rest of the world, how his talk of increasing tariffs will play out, and why India is the most pro-American country in the world