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CUSTOMS
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8
Oct
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Notification No. 65/ 2024
(Delhi)
S.O….(E).— In exercise of the powers conferred by sub-section (1) of section 4 read with section 3 and sub-sections (1) and (1A) of section 5 of the Customs Act, 1962
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INCOME TAX
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4
Oct
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Notification No. 106/2024
(Delhi)
S.O. 4276(E).—In pursuance of sub-clause (ii) of clause (a) of sub-section (1) of section 138 of the Incometax Act, 1961
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RBI
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5
Oct
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RBI/FED/2024-25/78
(Delhi)
Directions - Compounding of Contraventions under FEMA, 1999
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5
Oct
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RBI/2024-25/79
(Delhi)
Due diligence in relation to non-resident guarantees availed by persons resident in India
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LIVE MARKET
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USD
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EURO
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GBP
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GOLD
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SILVER
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INDIAN ECONOMY
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Seeking to strengthen bilateral ties, India and the Maldives on Monday inked a currency swap agreement, a move that would help the archipelago nation overcome foreign exchange reserve issues.
Prime Minister Narendra Modi and visiting Maldivian President Mohamed Muizzu also launched Rupay card in the Maldiv...
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Bihar is performing well in basic indicators like education and health, and it is likely to catch up with the rest of the country in a couple of years, NITI Aayog CEO BVR Subrahmanyam said on Monday. Addressing a press conference in Gaya where a national conference on data-driven governance will begin on Tues...
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The government plans to revamp its financial inclusion programme, targeting more comprehensive coverage of eligible persons under its social security schemes.
The upgraded Jan Suraksha model may offer higher insurance and pension coverage, with a focus on linking all the Jan Dhan account holders, two offic...
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A revamped India-UAE bilateral investment treaty (BIT), which came into force on August 31, makes conditions for enhanced investment flows from the West Asian kingdom, analysts said. It breaks the template of text of the model treaty by offering protection to portfolio investments, and lets investors seek int...
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The investment commitment of the United Arab Emirates (UAE) in India could top $100 billion from the earlier stated goal of $75 billion and on Monday both sides discussed in detail about setting up food parks in India to exclusively serve UAE markets, commerce and industry minister Piyush Goyal said.
“We h...
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The government does not see any major impact on oil supplies to the country owing to the ongoing conflict in West Asia, said Union minister for petroleum and natural gas Hardeep Singh Puri on Monday. However, any further escalation of the situation could hit energy availability, he added.
“Our energy consu...
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MARKET & FINANCE
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Foreign portfolio investors (FPIs) have, for the first time, amassed holdings in Indian securities exceeding the $1 trillion mark, a milestone underscoring the country’s growing allure among global investors.
As of the end of September 2024, FPIs’ assets under custody in India reached $1.1 trillion (Rs 84.4 ...
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Securitisation volumes in Q2FY25 are likely to have touched around Rs 60,000 crore, up 31 per cent year-on-year (Y-o-Y), driven by participation from private sector banks as originators, who are selling down their portfolios to improve their credit-to-deposit ratios, said rating agency Icra.
HDFC Bank, in it...
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Mutual funds (MFs) managed a record Rs 66.2 trillion in assets during the July-September quarter, marking a 12.3 per cent increase over the previous three-month period — the highest quarterly jump in MF assets in at least five years.
During the April-June period, the average assets under management (AUM) sto...
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GLOBAL CORPORATE
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Chevron is selling its assets in Athabasca Oil Sands and Duvernay Shale to Canadian Natural Resources for $6.5 billion, the oil giant said on Monday as it puts in motion its divestiture plan.
The all-cash deal, which is expected to close by Dec. 6, is a part of its strategy to raise $10 billion to $15 bill...
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South Korea's LG Energy Solution (LGES) said on Tuesday it signed a deal to supply electric vehicle (EV) batteries to a Mercedes-Benz affiliate in North America and other regions, sending its shares soaring.
The battery maker, whose customers include Tesla, General Motors and Hyundai Motor, said in a regul...
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Foxconn is building the world's largest Nvidia GB200 chip manufacturing facility to help meet "awfully huge" demand for the AI darling's Blackwell platform, a senior executive at the Taiwanese company said on Tuesday.
Foxconn, the world's largest contract electronics manufacturer and better know as Apple's...
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Activist investor Starboard Value has taken a stake of about $1 billion in Pfizer and wants the U.S. drug giant to make changes to turn its performance around, sources familiar with the matter said on Sunday.
Starboard has also approached Ian Read, a former Pfizer CEO, and Frank D'Amelio, who served as CFO u...
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GLOBAL ECONOMY
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| Trade Report |
| Country |
Month |
Link |
| Switzerland |
July 2019 |
Click |
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Mexico's annual inflation rate likely fell again in September, a Reuters poll of analysts showed on Monday, raising expectations that the central bank will continue cutting its benchmark interest rate.
The median estimate from ...
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The European Central Bank should proceed with caution on further interest rate cuts given inflation had not yet been overcome, Austrian central bank Governor Robert Holzmann told the Sueddeutsche Zeitung in an interview published ...
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China is "fully confident" of achieving its full-year economic and social development targets, with some funds from 2025's budget being brought forward to support projects, chairman of the country's economic planner Zheng Shanjie ...
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The World Bank has warned that China’s economic growth will slow further in 2025, despite recent stimulus efforts aimed at boosting the economy. The country’s growth rate is expected to decline to 4.3% next year, down from an esti...
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Transactions in Germany's giant yet troubled property market rose slightly in the first nine months of the year, data from JLL showed on Monday, as the global property firm and industry leaders cautioned that a rebound in Europe's...
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Israel's economy has for almost a year ridden out the chaos of a war that risks spiralling into a regional conflict, but rising borrowing costs are starting to strain its financial architecture.
The direct cost of funding the ...
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INDIAN CORPORATE
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Reliance Retail has initiated efforts to enter the thriving quick commerce market in a move that is set to escalate competition for Zomato-owned Blinkit, Swiggy Instamart and BigBasket, among others. The country's largest retailer...
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Sunil Mittal-led Bharti Airtel is in advanced negotiations with the Tata Group to buy loss-making Tata Play, India’s largest direct-to-home (DTH) business, said people aware of the matter. The aim is to consolidate its presence in...
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Vodafone Idea (Vi) on Monday inked a deal worth around Rs 14,000 crore with Sweden's Ericsson to buy equipment over a three-year span for its 4G network expansion and 5G roll out.
Under the new contract, Ericsson will supply 4G...
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India Inc is expected to post a 10% rise year-on-year in aggregate net profits during the September quarter, according to analysts’ estimate. The headline numbers might appear muted due to the steep decline in profits expected for...
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New Delhi-headquartered Morepen Laboratories, makers of glucometers and blood pressure monitoring machines, is planning to hive off its medical devices business into a separate unlisted subsidiary in the next 12-24 months to unloc...
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Switzerland-based technology player Hitachi Energy has plans to invest Rs 2,000 crore over the next 4-5 years in India, a company official said on Monday.
The investments will be made towards expanding capacity of transformers,...
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Tata Steel announced that its domestic crude steel production during the second quarter of FY25 stood at 5.27 million tons, up 5 per cent in comparison to 5.02 million tonnes during the same period last year. The company recorded ...
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Titan Company Limited recorded a revenue growth of 25 per cent YoY during the second quarter of FY25, as stated by the company’s Q2 Update released on the exchanges. The company had reported a 5.4 per cent YoY decline in consolida...
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COMMERCIAL LAW
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The government has clarified that exporters are not required to obtain Registration-Cum-Membership Certificate (RCMC) for claiming benefits under the post-export remission-based schemes such as Rebate of State and Central Taxes an...
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Insolvency
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The Pre-Packaged Insolvency Resolution Process (PPIRP) introduced in 2021 for MSMEs has seen limited effectiveness, said insolvency regulator Insolvency and Bankruptcy Board of India (IBBI) in its latest annual publication. The pr...
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