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The government has promised to refund any tax collected using the controversial 2012 amendment to the Income Tax Act The government has notified a fresh set of rules to facilitate settlement of the retrospective tax dispute with British telecom giant Vodafone Plc. The Central Board of Direct Taxes (CBDT) on October 13 notified ‘Relaxation of Validation (Section 119 of the […]
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“There will be a plan for monetising the assets of AIAHL.” After the historic Air India privatisation, the government will now start work on monetising its four other subsidiaries, including Alliance Air, and over ₹ 14,700 crore worth non-core assets like land and building, DIPAM Secretary Tuhin Kanta Pandey said. The government on October 8 had announced that salt-to-software conglomerate […]
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The first 7-Eleven store will open on Saturday, October 9 in Andheri East, Mumbai Reliance Retail Ventures Ltd (RRVL), through its wholly owned subsidiary, 7-India Convenience Retail Ltd, has entered into a master franchise agreement with 7-Eleven, Inc., (SEI) the American retail major, for the introduction of 7-Eleven convenience stores in India. Convenience store is a shop that remains open […]
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The external storage systems market is expected to grow at a single-digit compounded annual growth rate for the 2020 – 2025 period. India’s external storage market witnessed a growth of 14.8% year-over-year (YoY) by vendor revenue and stood at $73.7 million in Q2 2021 (April – June), as per the latest quarterly enterprise storage systems tracker by IDC. The quarter […]
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IBC resolution slow and ‘skewed’, rising NPAs and low credit offtake deter private investments, ADB economists point out The success of India’s latest gambit to clean up the banking system’s toxic assets through a ‘bad bank’ will hinge on several factors, and global evidence shows such initiatives worked better when accompanied by the recapitalisation of banks, the Asian Development Bank […]
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How will the government’s relief package impact the sector? Is there clarity on spectrum licence fees and dues? The story so far: The Union Cabinet on Wednesday approved a set of financial relief measures to help major telecom companies in trouble. Companies such as Vodafone Idea and Bharti Airtel have seen their business hit hard by financial demands made by […]
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What has the government announced for the sector, and will it help manufacturers to catch up with the global players? The story so far: Ten months after it first approved a Production-Linked Incentive (PLI) scheme for the textile sector, the Union Cabinet cleared it on September 8, after the Ministry of Textiles incorporated suggestions from the industry. With a total […]
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‘Output expands first time in 4 months, rising consumer footfall boosts sales’ India’s services sector expanded in August at the fastest pace in one-and-a-half years amid strong inflows of new work and improved demand conditions, a monthly survey showed on Friday. The seasonally adjusted India Services Business Activity Index rose from 45.4 in July to 56.7 in August, as the […]
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BHP Group PLC (BHP.AX,BLT.L,BBL,BHP) reported a strong underlying operational performance in fiscal year 2021. BHP announced the combination of Woodside (WOPEF.PK,WOPEY.PK,WPL.AX) and BHP’s oil and gas business. BHP also plans to unify its corporate structure under existing Australian parent company to reduce duplication and streamline governance and internal processes. Under an all-stock merger, BHP’s oil and gas business would merge […]
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As per a report published in Bloomberg, Saudi Aramco is in advanced discussions to acquire a roughly 20 percent stake in Reliance Industries’ oil refining and chemicals business. Reliance is led by Indian billionaire Mukesh Ambani. The all-stock deal could be valued between $20 billion and $25 billion. In 2019, the companies agreed for the acquisition of a 20 percent […]
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