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Coal bearing states get Rs 3,653 crores from mines allocation
Coal bearing states have received Rs 3,653 crore till June 2017 from mine allocation, Coal Minister Piyush Goyal said today.”The coal bearing state governments have received an amount of Rs 3,653 crore till June 2017 from the allocation of coal blocks/mines under the provisions of Coal Mines (Specia...
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Total public debt of Goa pegged at Rs 12,433 crore: Manohar Parrikar
Goa Chief Minister Manohar Parrikar has said that the total public debt of the state is pegged at Rs 12,433 crore till March 31, 2017.Parrikar on Thursday informed the House that the state's total public debt stood at Rs 12,433 crore which translated into per capita debt of Rs 82,015.The state's bor...
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Government considering to change financial year to January-December: Arun Jaitley
Finance Minister Arun Jaitley on Friday told lawmakers that the government is considering to change the country's financial year to January-December from April-March."The matter of changing financial year is under consideration," Jaitley told lawmakers in a written reply to the lower house of parlia...
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India on track to grow at 7.4%, developing Asia to improve: ADB
Asian Development Bank (ADB) retained India’s growth projection at 7.4 per cent for FY18, even as it raised the forecast for developing Asian region to 5.9 per cent. In a supplement to its Asian DevelopmentOutlook2017 report, ADB revised the forecast for developing Asia from 5.7 per cent earlier. Fo...
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Russia to sign three key pacts for Kudankulam units 5 & 6 this month
Russian companies will sign three key agreements with Nuclear Power Corporation of India Ltd for Kudankulam units 5 and 6, by the end of this month, said Sergey Orlov, who heads the India operations of Atomstroyexport, one of the Russian companies engaged in the construction of nuclear power project...
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| Global Economy |
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UK government borrowing rises in June
Government borrowing increased last month after the state was forced to pay higher interest on its debt.Public sector net borrowing, excluding state-owned banks, rose to £6.9bn in June, up £2bn from a year earlier.The government's debt costs jumped by more than a third in June from a year earlier af...
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A Greek debt market foray should be step to full return, government says
Greece will seek to ensure seamless market access when its bailout programme expires next year, its government spokesman said on Thursday, as speculation grew that the country's first debt market foray in three years was imminent."We are closely monitoring developments in bond markets, we are monito...
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Russia's inflation fight may be lost in the mud of a vegetable plot
Attempts by Russia's central bank to bring inflation to a post-Soviet low of 4 percent this year may come down to the price of vegetables.Heavy rain and cold weather have hammered crops, sending up prices. The impact on inflation won't be known, agriculture specialists say, until autumn when it beco...
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Draghi Says Officials ‘Aren’t There Yet’ as ECB Keeps Stimulus
Mario Draghi said policy makers are still waiting for inflation to catch up with the economic recovery as they put off discussions on winding back stimulus until after the summer.“We are finally experiencing a robust recovery where we only have to wait for wages and prices to follow course,” the Eur...
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| Market & Finance |
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Canada's bond market signals inflation shortfall
Canada's bond market is signalling the Bank of Canada will not reach its 2 percent inflation target anytime soon, suggesting the central bank is unlikely to pull off more than one more rate hike even as money markets see further tightening into 2018.Economists expect the Bank of Canada to raise its ...
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Realty records 137% increase in foreign investment in two years, says report
Indian real estate sector is witnessing a rise in investment inflow on account of the ongoing transformation in the business environment and also due to increase in funds infusion by foreign and domestic institutional investors into the sector. According to the Active Capital report by Knight Frank,...
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Rupee volatility disappears, hedging dips
The volatility in the Indian rupee has all but vanished in the past few months, which, currency dealers say, is leading to a hubris among importers and companies with foreign currency exposure, who are increasingly keeping their positions unhedged.Part of the reason for the stable currency is active...
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| Direct Tax |
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Aadhaar, PAN linking: Filing Income tax returns turns difficult
From an Indian tax legislation perspective, July 1, 2017 should be a historic date as the revolutionary and the most-debated GST finally came into force. It’s on the same day that another most debated tax provision also came in to effect. Effective July 1, 2017, quoting Aadhaar (Aadhaar number / enr...
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India Inc vendors under I-T lens, firms asked to give payment details
The income-tax (I-T) department has asked large corporate entities, including multinational firms, to furnish details of employees off the payroll to check whether they are filing tax returns after deduction at source, or TDS.According to I-T officials, many lawyers, chartered accountants, consultan...
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| Indirect Tax |
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Goods bought with loyalty points will face tax under GST
Your shopping out of the accumulated loyalty or bonus points will face tax under the goods and services tax (GST) regime. GST would be levied on the total price of the product and not on the discounted value after adjusting the bonus, loyalty or rewards points.“Loyalty points are nothing but a mode ...
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Few takers for easy GST scheme
A scheme under the goods and services tax (GST) that provides easy compliance and a flat rate to small businesses has had a muted response so far.The new indirect tax regime was rolled out on July 1. Till now, of the 8 million registrations on the GST Network (GSTN), only 100,000 or 1.25 per cent ha...
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| SEBI |
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SEBI tweaks rules on foreign purchases of rupee corporate debt
India's market regulator said on Thursday foreign investors would be allowed to buy rupee-denominated corporate debt on tap until they reach 95 percent of the 2.44 trillion rupees ($37.87 billion) allocated to them.Once that 95 percent limit is reached, however, custodians must halt any foreign inve...
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Masala bond issuance on hold for now, says Sebi
Markets regulator Sebi on Thursday indicated that the issuance of Masala bonds, or rupee-denominated bonds in the overseas market, has been temporarily ceased till foreign portfolio investors’ (FPIs) utilisation of investment limits in corporate debt falls below 92%.
“As rupee-denominated bonds iss...
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| IMC Chamber of Commerce and Industry Events |
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Source - Yahoo India Finance @ 06:07 |
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| Indian Corporate |
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Kotak Mahindra Bank Q1 Net Rises 23%
Kotak Mahindra Bank, India's fourth largest private sector lender by assets, posted a 23 percent jump in its first-quarter net profit, helped by higher interest and fee income.Net profit rose to Rs. 913 crore ($141.84 million) in the quarter ended June 30 from Rs. 742 crore a year earlier, the bank ...
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Indian Bank Profit Rises 21% To Rs. 372 Crore In June Quarter
Public sector lender Indian Bank has reported 21.16 per cent rise in net profit to Rs. 372.40 crore for the first quarter ended June 30 of the 2017-18 fiscal.The Chennai-based bank had standalone net profit of Rs. 307.35 crore in April-June quarter of 2016-17.Its total income rose to Rs. 4,788.04 cr...
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Hindustan Zinc reports 81% rise in Q1 net profit at Rs 1,876 crore
Hindustan Zinc Limited (HZL) reported a 81% jump in net profit y-o-y to Rs 1,876 crore in the first quarter of FY18, on strong zinc prices. During the quarter under review, the company's revenues shot up 79% year-on-year (y-o-y) to Rs 4,961 crore, led by higher zinc & lead prices and higher volume.T...
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Wipro announces Rs 11,000-cr buyback; offer biggest after TCS
Software major Wipro on Thursday announced a proposal to buy back 34.37 crore shares of the company for an amount of `11,000 crore. In June, 2016, the Bengaluru-based company had completed a buy back of shares worth Rs 2,500 crore.The Wipro offer represents 7.06% of the fully paid up equity capital ...
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Reliance Jio rights issue to raise Rs 20,000 cr even as Reliance Industries results beat estimates
In a clear signal that it is aiming further expansion which would require funds, Reliance Jio Infocomm, which is a wholly-owned subsidiary of Reliance Industries (RIL), on Thursday said that it will be making a rights issue offer to raise Rs 20,000 crore through 400 crore 9% non-cumulative optionall...
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| Global Corporate |
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Microsoft profit beats expectations on strong cloud demand
Microsoft on Thursday reported strong fourth-quarter earnings on the back of its fast-growing cloud computing business, stoking optimism that the once-stagnant company has found a new groove.The results were the clearest sign yet that the strategy put in place by Chief Executive Satya Nadella when h...
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Europe's cashed-up companies get comfy with capex
Sitting on $1 trillion in cash and emerging from years of caution, European companies are now showing the strongest year-on-year growth in capital spending plans in the world.The revival is another sign of renewed optimism in the region and will be relief to investors looking to capture rebounding g...
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