Business

Rupee zooms to nearly 3-month high of Rs. 67.22

The rupee continued to outshine against the beleaguered US dollar and ended at a nearly 3-month high of 67.22, appreciating by 9 paise on sustained unwinding of American currency by exporters and corporates ahead of the RBI policy. Heavy unwinding of long dollar positions built by speculative traders last week …

Read More »

Rate hopes fuel Budget rally, Sensex hits 4-month high

The gauge had rallied 584.56 points in the previous three sessions after the presentation of the Budget on February 1. The Budget-induced optimism got a leg to stand on as the Sensex today pushed higher for the fourth day by scoring 199 points to close at 28,439 — a 4-month …

Read More »

Mistry’s legal fight with Tatas to continue

The Tata Sons board has not kept a director’s seat vacant pending verdicts in ongoing court cases. Former chairman of Tata Sons, Cyrus Mistry, who was removed as director from its board at an extraordinary general meeting on Monday, is set to continue his legal fight with the Tatas. Vaibhav …

Read More »

Ministries, sectoral regulators to screen FDI proposals

The Centre had proposed to abolish the FIPB in its Budget for 2017-18 The applications — on foreign direct investment (FDI) in India in sectors under the approval route — considered by the inter-ministerial Foreign Investment Promotion Board (FIPB) will soon be taken up by the concerned ministries and sectoral …

Read More »

Message to Trump in ads at SuperBowl

At U.S.’ biggest sporting event, companies chose to send a message supporting diversity With Americans’ attention more finely tuned to the political climate under U.S. President Donald Trump, brands that dove headfirst into that conversation generated the most reaction from viewers during Sunday’s SuperBowl. For most of the game, the …

Read More »

Will Budget help double farmers’ income?

Most of the earnings of the average farm household were spent in meeting consumption expenditures. Finance Minister Arun Jaitley announced a slew of measures in the Union Budget 2017 to boost the agriculture sector. Higher agricultural credit, higher allocation for irrigation projects, a crop insurance scheme and increased allocations for …

Read More »

Employees to pay tax on gifts worth more than Rs.50,000

The Finance Bill 2017 has introduced an amendment to Section 56 of the Income Tax Act NEW DELHI: Company employees receiving large largesse, whether from the company itself or from somebody else, will now have to pay tax if the gift is valued at more than ₹50,000, according to changes …

Read More »

Uber launches UberHIRE in 9 cities

Uber’s local rival Ola had launched a similar service ’Rentals’ last year, which is available in 85 Indian cities. After Ola, US-based cab aggregator Uber has now launched ‘UberHIRE’ in nine Indian cities, including Delhi, Mumbai and Pune that will allow users to hire a cab for up to 12 …

Read More »

An Indian sub-prime crisis in the making?

The share of debt of firms with failing financial health has been going up every year since 2011, leading to mounting NPAs The Indian corporate sector is grappling with a severe bad debt crisis, and as a result, the banks (public sector banks) are increasingly getting saddled with non-performing assets. …

Read More »