Centre Likely To Hike Dearness Allowance To 42% For 1 Crore Employees

Rupee Rises 21 Paise To 82.66 Per Dollar, Reversing Friday

The allowance is revised periodically twice a year. (Representational) New Delhi: The central government is likely to increase dearness allowance (DA) for its over one crore employees and pensioners by four percentage points to 42 per cent from existing 38 per cent as per the agreed formula for the purpose. The dearness allowance for employees … Read more

Pak Telecom Firms On Why They Are Not Able To Make Business Plans

Pakistan Frees Rapist After Settlement To Marry Victim

Pak must act now and devise a strategy for regulatory relief, say telecom firms Islamabad: The chief executive officers of Pakistan’s largest telecom firms have warned that the country is heading towards a digital catastrophe due to the wrong policy of pegging telecom licence prices with the US dollar, Business Recorder reported. The Pakistan Telecommunication … Read more

“On The Brink Of Collapse”: Pakistan Oil Industry’s SOS Ahead Of IMF Meet

The IMF has set several conditions for resuming the bailout. Islamabad: Oil companies in cash-strapped Pakistan have warned that the industry is on the “brink of collapse” as the dollar liquidity crisis persists and their cost of doing business balloons due to the rupee’s devaluation. The government removed the dollar cap to meet the International … Read more

Tax Sought From Amazon In India On Cloud Services Fees Paid To US

Tax Sought From Amazon In India On Cloud Services Fees Paid To US

Amazon said it will contest the decision. (Representational) New Delhi: Indian tax authority has decided to charge tax on cloud services fees paid by Amazon to the US, a move which will lead to company coughing up “significant” amount in taxes including payments for some of the previous years, the company said in a regulatory … Read more

“Unusual Price Movement In Stocks Of Business Conglomerate”: SEBI

SEBI Tweaks Its Operational Circular On Credit Rating Agencies

SEBI has given a statement on market volatility Mumbai/New Delhi: The capital markets regulator Securities and Exchange Board of India (SEBI) said it has observed “unusual price movement in stocks of a business conglomerate” in the past week amid the Adani stocks rout. “SEBI is committed to ensuring market integrity and to ensuring that the … Read more

“Storm In Teacup” For Macroeconomics: Top Official On Markets Turmoil

Adani Enterprises fell by over 70 per cent from its peak of Rs 4,190 in December last year New Delhi: The stock market turmoil created by rout in Adani group shares is a “storm in a tea cup” from a macroeconomic point of view, Finance Secretary TV Somanathan said on Friday, emphasing that India’s public … Read more

Foreign Exchange Reserves Rise To 6-Month High Of $576.7 Billion

The RBI has intervened to buy dollars as the rupee stabilised, according to forex market participants. Mumbai:  India’s foreign exchange reserves rose above a six-month high of $576.76 billion in the week through Jan. 27, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday. This is the third consecutive week that the country’s … Read more

Customs duty changes in Budget will promote Make in India initiative: GTRI

Import duty was hiked on a number of goods including silver bars, styrene, and vinyl chloride. (File) New Delhi: Customs duty changes for several products such as precious metals, small cars, bicycles, toys and telecommunication components in the Budget will help promote the Make in India initiative of the government, economic think tank GTRI said … Read more

Energy Firm TotalEnergies Says Not Re-Evaluating Investment In Adani Companies

The firm said its investment in Adani entities was undertaken in compliance with the Indian laws. (File) New Delhi: French energy giant TotalEnergies, which had in past years taken stakes in two Adani group listed firms, on Friday said it has not performed any re-evaluation of its holdings because of volatility in stock prices following … Read more

Moody’s Says Assessing Financial Flexibility Of Adani Group Firms Post “Adverse Developments”

Adani group stocks have seen a rapid decline in stock value post-release of the Hindenburg report. (File) New Delhi: Moody’s Investors Service on Friday said it is assessing overall financial flexibility, including liquidity position, of Adani Group firms given a significant and rapid decline in stock value post release of the Hindenburg Research report. “These … Read more