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-
GST Council to consider tax cuts for Covid-19 products on Saturday
The GOM, led by Meghalaya chief minister Conrad Sangma, is learnt to have recommended reduction of the GST rate temporarily to 5% for most of the Covid medicines and materials except vaccines. -
New scheme for services exports soon: Commerce secretary Anup Wadhawan
Under the extant SEIS, the government offers exporters duty credit scrips at 5-7% of the net foreign exchange earned, depending on the nature of services. -
Air India sacks cabin crew for gold bars smuggling
Air India has sacked on of its cabin crew who was allegedly found to be in possession of two gold bars during checks at London Heathrow this Tuesday just before he was to operate a flight to Delhi. This happened when the person was rostered to be on AI 162 to Delhi. -
LPG consumers can choose dealers for refill delivery
LPG consumers will no longer have to put up with poor refill service of their distributors. They can specify another dealer in the area when they book a cylinder. -
Govt to auction large discoveries of ONGC, OIL
The government will put on the block large discoveries made by state-run ONGC and Oil India Ltd but are yet to be brought to production, oil minister Dharmendra Pradhan said on Thursday as the Centre was done with privatising their small fields. -
US stocks climb despite sizzling inflation, SP 500 hits new intra-day record high
Data released Thursday showed that the annual inflation rate has accelerated to a higher-than-expected 5.0 percent in May. -
Govt close to giving indemnity to foreign vaccine makers
India is close to agreeing to grant foreign Covid-19 vaccine makers against legal liability so that it can use their shots in an immunisation campaign that is facing acute shortages, three govt sources told Reuters. If indemnity is granted to one company then others will get it too, said sources. India invited Pfizer, Moderna and J&J in April for vaccines after infections rocketed. -
Cost-effective, clean freight transport key for India’s growth
Moving freight to rail and optimising truck use, India can reach its goal to reduce logistics cost from 14% of GDP to 10% by 2022 and this can save up to Rs 10 lakh crore in 2022, a report by government think tank Niti Aayog said on Thursday. -
ATM transactions beyond free permissible limit to cost more
The Reserve Bank on Thursday permitted banks to increase charges for cash and non-cash ATM transactions beyond free monthly permissible limit from next year. -
RBI hikes ATM cash withdrawal fee to Rs 21, other charges also increased, check here
For other financial transactions, banks will now charge Rs 17, instead of Rs 16. -
Cost-effective, clean, and optimised freight transport system key for India’s growth: Report
Moving freight to rail and optimising truck use, India can reach its goal to reduce logistics cost from 14% of GDP to 10% by 2022 and this can save up to Rs 10 lakh crore in 2022, a report by government think tank Niti Aayog said on Thursday. -
Tesla to launch high-end Model S ''Plaid'' to fend off Mercedes, Porsche
Tesla redefined electric cars in 2012 when it launched its high-end Model S with a sleek design and long driving range, but is facing a raft of new challengers. -
World's richest face tax squeeze after 40% run-up in fortunes
The world’s wealthiest 500 individuals are now worth $8.4 trillion, up more than 40% while Covid began its devastation. Meanwhile, the economy’s biggest winners, the tech corporations that created many of these vast fortunes, pay lower tax rates than grocery clerks, and their mega-wealthy founders can exploit legal loopholes to pass huge windfalls onto heirs largely tax-free. -
ATM transactions beyond free permissible limit to cost more from January 1
The Reserve Bank on Thursday permitted banks to increase charges for cash and non-cash ATM transactions beyond free monthly permissible limit from next year. -
Maruti Suzuki to launch new car cheaper than Alto? Check expected price and other features
The upcoming car could offer better features than Maruti Alto, especially in the AC variants of the vehicle. -
'Govt to auction 'major' oil, gas fields of ONGC, OIL'
The government will auction unmonetised large oil and gas fields of state-owned ONGC and OIL to boost the country's hydrocarbon production, Petroleum Minister Dharmendra Pradhan said on Thursday. Speaking on the launch of the third round of auction of small discovered fields, he said companies cannot indefinitely sit on resources they may have discovered. -
THESE 5 things are becoming costlier with petrol/diesel hike that you may haven’t realised yet
Besides the financial capital, petrol is selling at above Rs 100 in several other cities of Rajasthan, Madhya Pradesh, Maharashtra, Leh, Andhra Pradesh and Telangana. Likewise, the prices of diesel in India are touching the skies. -
GST Council: Group of Ministers suggests rate cuts on some COVID essentials
The Group of Ministers (GoM), formed after the last GST Council meeting on May 28 to deliberate on possible reductions in COVID-related items, has however not suggested a reduction in COVID-19 vaccines, the rate of which stands at 5 percent. The GoM submitted its report on June 8. -
'Second Covid wave will delay air traffic recovery'
Ratings agency Crisil on Thursday said air traffic is expected to slump in FY22 and fully recover only by fourth quarter of next fiscal due to “the debilitating consequences” of the second Covid-19 wave in India. -
US annual consumer price inflation jumps 5% in May
Excluding volatile food and energy goods, the "core" consumer price index (CPI) rose 3.8 percent over the last 12 months, "the largest 12-month increase since the period ending June 1992," the US Labor Department said. -
US to remain world’s ultra-rich hot spot
The US will remain the global hot spot for the world’s super-rich in the near future even as the fortunes of Asia’s wealthy continue to grow, according to research from Boston Consulting Group. The number of ultra-high-net-worth individuals in the US will increase 36% to about 28,000 in 2025 compared with last year, the firm said in its 2021 Global Wealth Report released Thursday. -
Govt close to giving indemnity to foreign vaccine makers like Pfizer
India is close to agreeing to grant foreign Covid-19 vaccine makers such as Pfizer Inc protection against legal liability so that it can use their shots in an immunisation campaign that is facing acute shortages, three government sources told Reuters. -
El Salvador explores bitcoin mining
El Salvador's president Nayib Bukele said on Wednesday that he has instructed state-owned geothermal electric firm LaGeo to develop a plan to offer bitcoin mining facilities using renewable energy from the country's volcanoes. -
Zee Exclusive: Benefits of buying hallmark gold jewellery, look for these components
In an exclusive interview with Reema Sharma of Zee Media, Sudheesh Nambiath, Head, India Gold Policy Centre, IIM- Ahmedabad, discusses a few pertinent questions associated with the government's order on mandatory hallmarking of Gold Jewellery from next week. Excerpts from the interview... -
5 major sources of income that are tax free in India
While the Income Tax department has laid out all the specific rules pertaining to ITR as per the Income Tax Act, there are a few types of incomes which are exempt from the scope of Income Tax. Such type of incomes are known as tax-free incomes. -
Sensex rises 359 points; Nifty settles at 15,738
Equity indices surged on Thursday with the benchmark BSE sensex rising over 350 points led by gains in banking, financial and realty stocks amid positive global cues. The 30-share BSE sensex rose 359 points or 0.69 per cent to close at 52,300; while the broader NSE Nifty settled 102 points or 0.65 per cent to lower at 15,738. -
Reliance shuts unit at Jamnagar refinery
Reliance Industries Ltd said it has shut a secondary unit at its only-for-exports oil refinery at Jamnagar in Gujarat, which may delay shipment of some product cargoes. -
Gold Price Today, 10 June 2021: Gold dips by Rs 7300 from record highs, best time to invest?
Gold hit an all-time high of Rs 56191 per 10 grams in August 2020 on MCX. -
Sensex rebounds 359 points; financial, pharma stocks key drivers
The 30-share Sensex finished 358.83 points or 0.69 per cent higher at 52,300.47. Intra-day, the index swung between a high of 52,346.35 and a low of 51,957.92. -
FY22 GDP growth projected at 8.5%: ICRA
ICRA had earlier estimated the GDP to grow at 10-11 percent rate; however, it had later revised it down to 10-10.5 percent for FY22. -
US to remain world’s ultra-rich hot spot even as India, China surge
The US will remain the global hot spot for the world’s super-rich in the near future even as the fortunes of Asia’s wealthy continue to grow, according to research from Boston Consulting Group. The number of ultra-high-net-worth individuals in the US will increase 36% to about 28,000 in 2025 compared with last year, the firm said in its 2021 Global Wealth Report released Thursday. -
Sensex rises 359 points amid positive global cues; Nifty settles at 15,738
Equity indices surged on Thursday with the benchmark BSE sensex rising over 350 points led by gains in banking, financial and realty stocks amid positive global cues. The 30-share BSE sensex rose 359 points or 0.69 per cent to close at 52,300; while the broader NSE Nifty settled 102 points or 0.65 per cent to lower at 15,738. -
Wipro CEO Thierry Delaporte earned $8.8 million last year
Wipro chief executive Thierry Delaporte was paid $8.8 million in compensation last fiscal, making him the costliest foreign executive ever to be hired by an Indian IT services company, as per the company’s latest filing with the US market regulator. -
FSSAI mandates food businesses to disclose license/registration number on every bill
The Food Safety and Standards Authority of India (FSSAI) has made it mandatory for the businesses in the country to write the FSSAI license/registration number on every bill. -
Moneycontrol Pro Panorama | Worries abound, but equity funds have regained charm
In today’s edition of Moneycontrol Pro Panorama: Equity funds on a better footing, output pain for India, the vaccine jigsaw, Petronet LNG on a steady line, why Minda Corp is a favourite, metal prices on a roll and more -
Severe blow to India's realty sector! 95% developers fear project delays due to 2nd COVID wave
A CREDAI report said that labour shortage, financial constraints, approval delays, increased construction costs, and weakening customer demand are key challenges highlighted by the developers. -
India offers 32 areas in latest small oil, gas field auction
India on Thursday launched its third auction of small discovered fields offering 32 contract areas with 75 oil and gas discoveries, said Anand Gupta, additional director general of the Directorate General of Hydrocarbons. -
FCCU unit at Jamnagar refinery shut, exports may be delayed: RIL
India's private refiner Reliance Industries said on Wednesday a secondary unit at its export-focussed refinery in the western state of Gujarat has been shut since June 6, which may delay the shipment of some product cargoes. -
China arrests 1,100 over cryptocurrency money laundering
China has arrested more than a thousand people for using the profits from crime to buy cryptocurrencies, security officials said, as part of a growing crackdown on the industry. -
7th Pay Commission: Increased salary to be credited from July 1, check out pay matrix and expected salary hike
In what could benefit over 50 lakh employees, the stalled dearness allowance (DA) and dearness relief (DR) will be resumed from 1 July 2021. -
Tata Digital to buy majority stake in online pharmacy 1mg
Tata Digital, a unit of Tata Sons, said it is acquiring a majority stake in online pharmacy 1mg, days after its acquisition of CureFit and online grocery delivery company BigBasket. -
Reliance says FCCU unit at Jamnagar refinery shut, exports may be delayed
India's private refiner Reliance Industries said on Wednesday a secondary unit at its export-focussed refinery in the western state of Gujarat has been shut since June 6, which may delay the shipment of some product cargoes. -
PV retail sales down 59% in May: FADA
Passenger vehicle (PV) retail sales in May witnessed a decline of 59 per cent to 85,733 units as compared to April as Covid-19 related disruptions across states hit offtakes, automobile dealers' body FADA said on Thursday. -
After BigBasket, now Tata Digital to acquire majority stake in 1MG
This is Tata Digital's second big and significant acquisition after BigBasket that it had made in February this year. -
'British watchdog plans investigation into Amazon's use of data'
Britain's competition watchdog is planning a formal competition investigation into e-commerce company Amazon.com Inc, the Financial Times reported on Thursday, citing three unidentified people familiar with the situation. -
BharatPe acquires Payback India
Merchant payment and lending service provider BharatPe on Thursday said it has acquired Payback India from American Express and ICICI Investments Strategic Fund. -
5 benefits of PF account that every salaried person must know
Provident Fund offers a host of facilities to its account holders which the latter can use in times of an emergency too. -
PV retail sales down 59% in May as Covid disruptions impact offtakes: FADA
Passenger vehicle (PV) retail sales in May witnessed a decline of 59 per cent to 85,733 units as compared to April as Covid-19 related disruptions across states hit offtakes, automobile dealers' body FADA said on Thursday. -
British watchdog plans investigation into Amazon's use of data: Report
Britain's competition watchdog is planning a formal competition investigation into e-commerce company Amazon.com Inc, the Financial Times reported on Thursday, citing three unidentified people familiar with the situation. -
Sensex rises over 150 points in early trade; Nifty tests 15,700
The 30-share BSE index was trading 160.07 points or 0.31 per cent higher at 52,101.71 in initial deals. Similarly, the broader NSE Nifty advanced 58.75 points or 0.38 per cent to 15,694.10.
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