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December 9 began as a routine day for North Block mandarins, with questions pertaining to the Finance Ministry to be answered in the Lok Sabha. But for avid observers of the economy and financial markets, the big question of the day was neither starred nor unstarred. It revolved around the Governorship of the Reserve Bank…
Deepak Sood, Secretary General of the Associated Chambers of Commerce and Industry of India (ASSOCHAM). Photo: Deepak Sood via @Deepaksood69/X Deepak Sood, Secretary General of the Associated Chambers of Commerce and Industry of India (ASSOCHAM) is moving on from the Chamber to pursue other interests, the Chamber said in a press release. President of ASSOCHAM,…
Read More “ASSOCHAM Secretary General Deepak Sood steps down” »
Image of Enforcement Directorate. File | Photo Credit: PTI The Enforcement Directorate (ED) has restituted assets worth ₹4,025 crore of the erstwhile Bhushan Steel and Power Limited to JSW Steel following approval from the Supreme Court, the federal probe agency said on Saturday (December 14, 2024). JSW Steel was the successful resolution applicant to the…
Read More “ED restitutes assets worth Rs 4,025 crore in Bhushan Steel bank ‘fraud’ case” »
In a statement, Switzerland announced suspension of the application of the most favoured nation (MFN) clause of the protocol to the agreement between the Swiss Confederation and the Republic of India for the avoidance of double taxation with respect to taxes on income. File | Photo Credit: Reuters Switzerland has withdrawn the Most Favored Nation…
Read More “Switzerland scraps MFN status to India, dividend income to face higher tax” »
Image used for representational purposes. File | Photo Credit: The Hindu The rupee rebounded from its all-time low level and settled with a gain of 10 paise at 84.78 (provisional) against the U.S. dollar on Friday (December 13, 2024), buoyed by a strong recovery in domestic equity markets and easing inflation data. However, a…
Read More “Rupee recovers 10 paise to end at 84.78 against U.S. dollar” »
In 2008, the SEBI had introduced algorithmic trading which provided facilities like faster order execution, reduced transaction costs and greater transparency. File | Photo Credit: Reuters Securities and Exchange Board of India (SEBI) on Friday (December 13, 2024) proposed a framework to allow retail investors to participate in algorithmic trading through stock brokers. In 2008,…
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Spicejet plane. File | Photo Credit: PTI SpiceJet on FridayOn Friday (December 13, 2024), SpiceJet said it cleared all employee provident fund (PF) dues worth ₹160.07 crore that were pending for over two years. The low-cost carrier, which has been facing multiple headwinds, recently raised ₹3,000 crore, following which it has been clearing statutory,…
Read More “SpiceJet says cleared ₹160 crore worth pending employee provident fund dues” »
Among the 30-share Sensex blue-chip pack, Bharti Airtel, ITC, Kotak Mahindra Bank, Hindustan Unilever, Titan, UltraTech Cement, HCL Technologies, and Power Grid, were the biggest gainers. File | Photo Credit: The Hindu Benchmark indices Sensex and Nifty ended sharply higher on Friday (December 13, 2024) amid heavy buying in telecommunication stocks and encouraging domestic inflation…
Read More “Sensex Nifty recovery: Strong comeback amid easing inflation, buying in telecom stocks” »
Representational image. File | Photo Credit: S. Siva Saravanan The Department of Handlooms, Handicrafts, Textiles and Khadi, Government of Tamil Nadu, has allocated ₹10 crores for the current financial year (2024-2025) to implement the 6% interest subvention scheme for textile mills that want to invest and upgrade technology. According to an order dated December 9,…
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Assembled cars at the Maruti Suzuki plant. File | Photo Credit: V.V. Krishnan Passenger vehicle (PV) dispatches from companies to dealerships rose 4% year-on-year to 3,47,522 units in November with demand momentum sustaining the post-festive period in October, industry body Society of Indian Automobile Manufacturers (SIAM) said on Friday (December 13, 2024). The overall PV…
