Business
Amid US Sanctions Threat, Iran's Rial Hits Record-low of 100,000 to the Dollar
The rial has lost half its value against the dollar in just four months, having broken through the 50,000-mark for the first time in March.
ITC Becomes Country's 4th Most Valued Firm in Market Capitalisation
At close of trade, ITC shares ended 5.24 per cent higher at Rs 302.20 on BSE. Intra-day, it zoomed 6.91 per cent to Rs 307 - its 52-week high.
Bank of Baroda Net Profit Up Over Two-Times at Rs 528cr
The bank had reported a net profit of Rs 203.39 crore in 2017-18 and a huge net loss of Rs 3,102.34 crore in the previous January-March quarter.
BP Pays $10.5 Billion for BHP Shale Assets to Beef Up U.S. Business
In a further sign of the upturn in its fortunes, BP said it would increase its quarterly dividend for the first time in nearly four years and announced a $6 billion share buyback, to be partly funded by selling some upstream assets.
Hindalco Arm Novelis to Acquire Aleris For $2.58 Billion
Announcing the acquisition in Mumbai, Kumar Mangalam Birla, chairman, Aditya Birla Group, said, "Acquiring Aleris, in a debt-funded deal, will help diversify the product mix for Novelis by giving access to the aerospace segment."
Which Way to Go Now, for Venezuela With 1,000,000% Inflation?
Hyperinflation has not only contributed to shortages of food and medicine but also to the collapse of public services, including water, electricity and transport.
Govt Open to Further Review of GST Rates, Says Rajnath Singh
The Goods and Services Tax Council, in its 28th meeting on Saturday, approved rate reductions for 88 consumer-centric items such as cosmetics, refrigerators, washing machines, and small screen televisions, and cleared the widely demanded exemption on sani...
GST Slabs Can be Reduced From 5 to 3 in Coming Days, Says Bihar Deputy CM Sushil Modi
Sushil Modi said that after implementation of GST, initially the focus was on ensuring no revenue loss. But as the revenue stabilised, rates on several items were reduced.
Federal Bank Gets RBI Nod to Open Offices in Bahrain, Kuwait, and Singapore
Federal Bank already has representative offices in Abu Dhabi and Dubai, and its desire to expand comes even as a majority of its larger peers are downsizing their overseas presence following the Rs 13,500-crore Nirav Modi scam and poor asset quality back...
From 226 at Launch, Only 35 Goods Left in Highest Tax Bracket of GST
There were around 226 goods in the 28 per cent category when Goods and Services Tax (GST) was implemented on July 1, 2017.
Litigation of Grave Proportions; CBDT Asks Taxman to Dispose Appeals of Over Rs 50-cr by Year-End
The Central Action Plan (CAP) for 2018-19 acts as the policy action vision document for the Income Tax Department and is unveiled by the CBDT annually.
Infosys Says Increasing Number of US Visa Applications Getting Rejected, Causing Project Delays
The Bengaluru-based company has already been ramping local hiring in key markets like the US to tackle increasing scrutiny around work visas by various governments.
Consumer Durable Makers Welcome Move to Reduce GST on White Goods
The move will also help the domestic manufacturing, and help in creating more employment opportunities, said Consumer Electronics and Appliances Manufacturers Association.
Wipro Q1 Net Profit rises 2% to Rs 2,120.8 Crore, Beats Analysts’ Expectations
According to a regulatory filing by Wipro, its total profit grew marginally to Rs 2,093.8 crore for the April-June 2018 quarter, from Rs 2,082.6 crore in the year-ago period.
ONGC Board Approves Exiting Pawan Hans, to Sell 49% Stake
Officials said when the government had first floated an offer to sell its 51 per cent stake in October last year, ONGC made an offer to DIPAM that its 49 per cent stake be also sold on same terms.
Sensex Scales Record High, Nifty Holds Above 11,000
The market rally was driven by strong buying on the oil & gas, banking, PSU and realty counters and strength in the rupee.
