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- Gold taxation: Income tax laws for capital gains on gold have changed, know the new ruleson October 29, 2024 at 1:51 pm
New gold taxation rules: Capital gains tax rules on gold have changed from July 23, 2024. However, the new rules are applicable to physical gold and gold jewellery and not to gold mutual funds and gold ETFs. Know the new income tax rules for taxation of gold before buying or investing this Diwali.
- HSBC reports $8.5 billion pre-tax profit in third quarteron October 29, 2024 at 1:50 pm
Banking giant HSBC said Tuesday that pre-tax profit in the third quarter rose 10 percent year-on-year, citing revenue growth in two of its divisions, days after the lender announced an organisational overhaul. The rise in pre-tax profit to $8.5 billion reflected a strong performance in its wealth management division as well as higher revenues in global banking and markets, HSBC said in an earnings release.
- Delhi LG approves special audit of power companies over pension surchargeon October 29, 2024 at 1:45 pm
Discoms levy a pension surcharge of seven per cent on the monthly electricity bills of consumers in Delhi.
- Intel set for big drop in quarterly revenue as chipmaker struggles to bounce backon October 29, 2024 at 11:22 am
INTEL-Intel set for big drop in quarterly revenue as chipmaker struggles to bounce back
- Centre making efforts to promote country as manufacturing hub: Kishan Reddyon October 29, 2024 at 10:31 am
Union Minister G Kishan Reddy stated that the Centre, under Prime Minister Narendra Modi's leadership, is promoting youth employment through large-scale government recruitment and initiatives to make India a manufacturing hub. Programs like Start Up India and Mudra loans also contribute to job creation. Over nine lakh youth have received appointment letters so far.
- Jio Financial and BlackRock incorporate AMCs to undertake mutual funds bizon October 29, 2024 at 9:34 am
Jio Financial Services and BlackRock Inc. have launched two joint venture firms in India, named Jio BlackRock Asset Management Private Limited and Jio BlackRock Trustee Private Limited, aiming to enter the mutual fund industry. Jio Financial has invested Rs 82.9 crore for a 50 per cent stake in both companies, pending regulatory approvals.
- Apple ships $6 billion of iPhones from India in big China shifton October 29, 2024 at 9:33 am
Apple is expanding its manufacturing network in India at a rapid clip, taking advantage of local subsidies, a skilled workforce and advances in the country’s technological capabilities. India is a crucial part of the company’s effort to lessen its reliance on China.
- SpiceJet pays INR 310 crore to clear TDS dueson October 29, 2024 at 9:31 am
From cross-continental epic voyages that traverse vast landscapes to leisurely journeys along scenic branch lines, rail-based adventures have surged in popularity among today’s travelers. Modern enthusiasts are increasingly drawn to the unique experiences that train travel offers, combining comfort and the chance to soak in breathtaking views from the window.
- CBDT notifies tolerance range for transfer pricing for AY2024-25on October 29, 2024 at 9:16 am
The notification of tolerance range shall provide certainty to taxpayers and reduce the risk perception associated with pricing of a transaction in transfer pricing.
- India remains a shining star with $3.6 bn inflows as global VC investment hits seven-year low: KPMGon October 29, 2024 at 8:49 am
With the US election approaching, VC investment is likely to remain cautious through Q4 2024, with AI and defence-tech expected to attract ongoing interest.
- Dee Development Engineers bets big on oil & gas capex spend, utilises 50% of IPO proceeds for loan repayment, says CFO Sameer Agarwalon October 29, 2024 at 8:24 am
Agarwal highlights a promising outlook for capital expenditure in the oil and gas and power sectors over the next five to ten years, calling it a golden period and positioning Dee Development Engineers Limited for significant growth opportunities.
- GST dept uncovers 3.28cr evasionon October 29, 2024 at 5:50 am
The investigation targeted businesses dealing in high-demand goods like fireworks, ice cream and textiles. All the traders involved were found to be holding substantial quantities of unaccounted stock and were conducting numerous unbilled transactions.
- Bartronics CFO Venu Gopal Thota resignson October 29, 2024 at 5:47 am
Thota stepped down from his role due to personal commitments, as disclosed by the company in a regulatory filing to the BSE.
- JSW Group, South Korea's POSCO collaborate to set up 5 MTPA steel uniton October 29, 2024 at 5:31 am
Both parties will also explore collaborations in the areas of battery materials related to Electric Vehicles (EVs), and renewable energy for meeting the captive requirements of the proposed integrated steel plant, the statement said.
- Global semiconductor market to grow strongly this year driven by AI demand and memory market recovery: Reporton October 29, 2024 at 3:21 am
The global semiconductor market is on track to experience substantial growth in the coming years, with total revenue expected to reach USD 630 billion in 2024--a 19 per cent increase from the previous year.
- Edu-wealth startup Zinc raises $25.5 million from Nexus Venture Partners, otherson October 29, 2024 at 3:04 am
The Singapore-headquartered company founded by the former PayU Credit chief Prashanth Ranganathan plans to use the funds for product innovation, expand its offerings and obtain financial licences to help families save and invest for their children's global education.
- Quick commerce platforms see surge in Diwali gift orderson October 29, 2024 at 3:03 am
Blinkit, Swiggy Instamart and Zepto have unveiled features like EMI, postpaid options, and 10-minute returns for clothing and footwear, expanded their inventory with popular festival-related products, and created a separate Diwali section on their apps.
- Demand conditions in economy need to be watched: Finance ministryon October 29, 2024 at 3:01 am
The Indian economy looks promising with a stable external sector and a boost from the festive season. However, slow urban demand due to high food inflation and softening consumer sentiments raises concerns. Rural demand improves, but urban demand shows signs of weakening, impacting FMCG and auto sales.
- India has entered cyclical growth slowdown, RBI's 7.2 pc estimate 'overly optimistic': Nomuraon October 29, 2024 at 2:59 am
Nomura reports that the Indian economy is experiencing a cyclical growth slowdown, with urban consumption indicators weakening. The brokerage believes the Reserve Bank's GDP growth estimate of 7.2% for FY25 is overly optimistic, highlighting issues such as salary moderation and a decrease in personal loans and lending growth.
- India’s IT services market hits $14.5 bn, digital transformation fuels growth: Reporton October 29, 2024 at 2:56 am
While IT investments showed a slower recovery compared to the previous year, digital transformation (DX) initiatives and the increasing complexity of IT environments will continue to drive market growth.