Category: Business

Business

Sensex, Nifty Tumble Nearly 1%, Continues Plunge For 5th Consecutive Day

October 25, 2023 admin

Falling for the fifth day running, the 30-share BSE Sensex tanked 522.82 points or 0.81 per cent Mumbai: Benchmark equity indices Sensex and Nifty plunged nearly 1 per cent today, in continuation with the pessimistic trend amid the ongoing tensions in the Middle East. Falling for the fifth day running, the 30-share BSE Sensex tanked…

Business

SEBI orders defreezing of bank, demat accounts, MF folios of Rana Kapoor

October 25, 2023 admin

Yes Bank founder Rana Kapoor. File. | Photo Credit: PAUL NORONHA Capital markets regulator SEBI has ordered the defreezing of bank accounts as well as share and mutual fund holdings of Rana Kapoor, former MD and CEO of Yes Bank. Kapoor has been in jail since March 2020 in connection with the DHFL money laundering…

Business

Jio can deploy 5G cell every 10 seconds, deployed 85% 5G network in India: Akash Ambani

October 25, 2023 admin

Akash Ambani. File | Photo Credit: The Hindu “Telecom major Reliance Jio has deployed 85% 5G network in India and has the capability to deploy one 5G cell in every 10 seconds,” the company’s Chairman Akash Ambani said. According to a statement released by broadband speed and quality measurement firm Ookla, the Reliance Jio chairman…

Business

Online gaming companies get ₹1 lakh crore GST show cause notices so far

October 25, 2023 admin

A host of online gaming, like Dream11, and casino operator, like Delta Corp, have received GST show cause notices last month for alleged short payment of taxes. File. | Photo Credit: Reuters GST authorities have issued show cause notices worth ₹1 lakh crore to online gaming companies for tax evasion so far, a senior official…

Business

Sensex, Nifty rebound in early trade on firm global cues, foreign fund inflows

October 25, 2023 admin

The benchmark equity indices climbed in early trade on October 25 after facing a heavy drubbing in previous trade, amid positive trends in global markets and foreign fund inflows. | Photo Credit: Paul Noronha The benchmark equity indices climbed in early trade on October 25 after facing a heavy drubbing in previous trade, amid positive…

Business

Deal to force multinational companies to pay 15% minimum tax is marred by loopholes: EU Tax Observatory

October 25, 2023 admin

An ambitious 2021 agreement by more than 140 countries and territories to weed out tax havens and force multinational corporations to pay a minimum tax has been weakened by loopholes and will raise only a fraction of the revenue that was envisioned, a tax watchdog backed by the European Union (EU) has warned. The landmark…

Business

Rupee rises 5 paise to 83.11 against U.S. dollar in early trade

October 25, 2023 admin

The rupee appreciated by 5 paise to 83.11 against the U.S. dollar in early trade. File | Photo Credit: V. SUDERSHAN The rupee appreciated by 5 paise to 83.11 against the U.S. dollar in early trade on Wednesday, tracking a weak America currency and softening crude oil prices in the overseas market. Some buying by…

Business

World Bank’s Banga says geopolitics pose ‘serious’ risk to world economy

October 24, 2023 admin

World Bank President Ajay Banga. File. | Photo Credit: Reuters World Bank President Ajay Banga said on October 24 that geopolitic tensions pose the biggest threat to the world economy, but that risks “tend to move around” fast, so others should not be ignored. “The U.S. 10-year Treasury [yield] just crossed 5% briefly yesterday, these…

Business

Little more optimistic about India’s economic growth than few months ago, says RBI MPC member Jayanth R. Varma

October 24, 2023 admin

Jayanth R. Varma said while external demand is weak due to the sluggishness in the world economy, the revival in private capital expenditure is still too tentative and muted. RBI MPC member Jayanth R. Varma on October 24 said that he is ‘little more’ optimistic about India’s economic growth than a few months ago, though…

Business

Vedanta CFO Sonal Shrivastava resigns

October 24, 2023 admin

A view of the logo of Vedanta installed on the facade of its headquarters, in Mumbai. File | Photo Credit: Reuters Vedanta on October 24 said Chief Financial Officer (CFO) Sonal Shrivastava has resigned, amid a major structural overhaul announced last month. “Ajay Goel, currently incumbent CFO at Indian edutech start-up Byju’s, will return as…

Business