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Morning Business News:
China to send its top trade negotiator to the US for talks
PMC’s HDIL loan stands at Rs 6,500 crore
IRCTC offers attractive prospects going forward
JSPL to reduce debt by over Rs 10,000 crore
Govt to set up a working group on new industrial policy
The RBI recommendation that PMC bank ignored
Govt may seek Rs 30,000 crore interim dividend from RBI, says the report
Iran’s petroleum industry on ‘full alert’ against attacks: Oil minister
UP energy regulator slashes solar tariffs, approves bidding for 550 MW
Saudi Arabia to invest $100 billion in India, eyes long-term partnership
Privatization plan of BPCL will need a prior nod of Parliament: Officials
Value of Indian brands rises 6% to $228.2 billion: BrandZ
SIS India eyes ₹21,000-cr revenue in the next five years
Elgi opens new European headquarters in Belgium
Govt plans to update national water policy: Jal Shakti Minister
Mazagon Dock IPO shelved due to lack of demand for shipbuilding stock
Adani group firms plan to raise $2 bn from dollar bonds
PMO steps in to ease the supply of credit for green energy firms
China vows ‘two-way’ financial opening as trade talks near
Govt is listening to the market: Samir Arora
India set to lose major WTO dispute to the US
BSNL-MTNL: Finance Ministry turns down DoTs Rs 74,000 crore revival package
RBI may go for another rate cut on October 4: Experts
Economic slowdown: Central PSUs vow to meet 2019-20 Capex target
DHFL lenders led by SBI expected to complete debt resolution plan quickly
Telcos war: COAI hopes the industry’s IUC discussion will be reasonable, objective
Sri Lanka faults India for setting pepper MIP high
Morning Business News:
India turns to UAE to fill in for Saudi oil
Govt plans PSU selling spree; to let go of ‘whatever is saleable’
RBI eases withdrawal limit for PMC customers
Pawan Hans divestment: Third extension in three months
RBI group suggests longer-term repo to manage liquidity
IL&FS seeks the release of Rs 145 cr held by Gujarat discom
NCLAT allows Jet Airways’ Dutch insolvency court to be part of CoC
No liquidity crisis says FM Sitharaman after bankers meeting
New resolution framework for finance companies likely on Friday
Sebi refuses to lift the market ban on 19 entities for sending misleading SMSes
India jumps 4 places to 44th rank in world digital competitiveness rankings
India-Chile set to expand preferential trade, explore the possibility of a free trade pact
Indian economy to start recovering from late FY20: Report
Eveready looks to raise Rs 250-300 crore from sale of non-core assets
Tata Steel eyes new businesses to tackle future challenges
Mergers and Acquisitions activity records 70% growth in 2018: Study
Economy to start looking up in days ahead: FM after meeting Pvt sector lenders
Fairfax sells ICICI Lombard stake worth over Rs2,500 crore
AP govt cancels Bauxite mining in Visakhapatnam
Vivint Capital to raise ₹500 crore debt fund
Bitcoin falls below $8,000 for the first time since June
CBDT gives one more month to file returns of income tax cases that need an audit
PMO convenes a meeting of secretaries on draft national logistics policy
RBI data shows bank credit grows by 10.26%, deposits 10.02%
Telecom CAPEX intensity to see moderation till 5G comes in: ICRA
Govt to appoint a global consultant to sell surplus land of PSUs
Mehul Choksi a crook, Indian officials free to investigate him: Antigua PM
Rupee darts up 16 paise to 70.88 against USD as Trump dangles trade deal hopes
Morning Business News:
The US slaps news curbs on Chinese entities over Iran oil
Essel gets more time from mutual funds to repay the loan
Take advantage of the opportunity, invest in India: Modi
‘Faster decisions by the judiciary, banks will boost growth’
ADB cuts India’s GDP growth forecast to 6.5 pc for FY20
Sebi floats tighter norms for defaults disclosure with rating agencies
Emerging economies to continue to lead global growth: Euromonitor survey
Sugar industry expects to bounce back after the price rise, govt measures
25 richest Indians now have a net worth equal to 10% of the country’s GDP
Global economic uncertainties dampen India’s M&A activity in August
NCLT directs Jet Airways lenders to disburse lifeline funds within 15 days
IRCTC IPO to open on September 30
Oil companies withdraw 0.75 percent cash back on fuel purchases
Spicejet eyes over $10 billion deal with Airbus amid Boeing woes
NTPC to set up 520 MW of hydro projects in Himachal Pradesh
Lupin ropes in Jon Stelzmiller to head US specialty business
Sachin Bansal acquires microlender CRIDS, marks the entry into financial services
GSK Pharma suspends the sale of ranitidine on detection of carcinogen
Sebi lays the framework for startups to shift to main stock exchange after 1 year
Listed companies asked to promptly disclose all details on default
Remove Dividend Distribution Tax, promote investment: Direct Tax Code panel
24 lakh new jobs created in July, says ESIC payroll data
Iraq urges Indian companies to participate in energy and infra projects: Envoy
Trade deal off Efforts on to end India-US impasse
Sebi relaxes FPI norms; allows the off-market transfer of securities
Govt reconstitutes Economic Advisory Council under Bibek Debroy
Sensex ends over 500 points lower; Nifty below 11,500
Mukesh Ambani richest Indian with a net worth of Rs 3,80,700 cr: Report
Morning Business News:
NPAs are giving banks a new cause for worry
India turns to UAE for extra LPG as Saudi cuts supplies
The inadvertent effect of India’s $20 billion mega tax cut
Labour Ministry notifies 8.65% interest rate on EPF
NCLT allows RP 90 more days to finish RCom insolvency
Infy, TCS, HDFC among Forbes best ‘regarded’ cos
Coal shortage puts Rs 5 trn investment in power plants at risk: Official
Govt will maintain borrowing plan, likely sell Rs 2.68 trn of bonds: Report
Supreme Court resuscitates Amtek Auto, allows fresh bids for the company
GMR Infra, Reliance among 19 companies bidding to build Noida airport
IDBI Bank puts Rs 9,750-crore non-performing loans on the block
Corporate tax stimulus might not lead to higher buybacks or dividends
India must aspire to be the top recipient of FDI: Ravi Shankar Prasad
Lebanon’s geo-tech engineering firm ACTS acquires two Indian companies
Pennar Ind to double its cold drawn welded tubes capacity
DLF reworking strategy to increase food and beverages share to 18-20%
RBI puts curbs on PMC Bank, customers panic
Recycle, reuse policy to drive India’s plan to become resource-efficient
Lower corporate tax should fetch India higher investments: RBI’s Das
India, US expected to sign interim trade agreement today
JSW Steel raises $400 million in overseas debt
The India-us trade deal will help achieve a bilateral trade target of $500 billion
Textile bodies urge center to come up with stimulus measures
Leather sector exports can touch $9 billion by 2020
As NPA resolution crawls, banks stare at the spike in credit cost
RIL’s tax liability to fall by 4 percentage points: Morgan Stanley
The steep jump in demand for basic motor insurance
Rupee rises 22 paise against US dollar in early trade
Wind energy can light up the entire world
Morning Business News:
The stimulus will take growth to over 7.5% in H2: NITI boss
Telcos fight amid Trai’s review of call connect rates
India’s container trade growth slows to 1% in Q2 2019
Maruti sees higher sales in September
ICICI Bank to set up 450 new branches this fiscal
JSW Steel for 25% duty on steel imports
Muthoot Fincorp’s NCD issue to offer up to 11.03%
RBI turns down Sebi plan for credit rating agencies’ access to defaults
From ONGC to Coal India, PSUs set to pay a higher dividend with tax savings
Handle income tax-related issues of startups with utmost care: CBDT
Debenture trustee sells Rs 200 crore of Zee Entertainment shares
Sebi imposes Rs 22 cr fine on Aurobindo Pharma, promoters, related entities
Tata Realty, Actis looks to raise $1 billion for commercial properties
NCLT grants Amalgamation relief in 20-year row
Parle Agro to invest in plastic waste management
CCI gives green signal to rejig Apollo Hospitals’ pharma biz
L&T Construction begins work for Telangana Fibre Grid Corporation
MSMEs’ power costs need to be reined in Nitin Gadkari
GST cut in hotel tariffs will boost the tourism sector: Minister
Reliance Industries likely to go on a spending spree after becoming debt-free
Vacations upended, jobs lost as UK’s Thomas Cook collapses
India’s corporate tax cut to boost smartphone manufacturing
Govt issues notification announcing amendments in pension rules
Saudi Arabia to restore full oil output by next week: Report
India, UAE discuss areas of cooperation to strengthen economic ties
The government estimates Kharif crop output at 140.57 MT in 2019-20
RCEP: India readies tougher rules to curb dumping
The UK launches biggest peacetime operation after Thomas Cook collapse
Closed sugar mills may see revival soon as govt mulls ethanol production
Rupee ends flat at 70.94 against the dollar despite steller stocks rally
Sensex jumps 1,075 points; Nifty reclaims 11,600 mark
Petronet Board disfavoured USD 2.5 bn US LNG deal in Apr; signs non-binding MoU now
Morning Business News:
Blackstone REIT’s success lures global funds to India
No plans to revise fiscal deficit target: Sitharaman
SBI to roll out co-lending model with 4-5 NBFCs
Committed to meet India’s energy needs: Saudi envoy
Default rating puts RCap’s $5 bn debt at risk
Scooters India strategic sale on hold amid the auto slump
Petronet signs $ 2.5 bn deal for stake in US LNG plant
Top 1,000 listed firms may see tax savings of Rs 37k cr on tax cut: Crisil
PM Modi meets energy sector CEOs in the US, discusses investment opportunities
361 infra projects show cost overruns of over Rs 3.77 trillion, says the report
Reliance Capital protests after rating agency downgrade debt to ‘default’
Hero MotoCorp might see a reduction in earlier-projected CAPEX of Rs 1,500 cr
The tax cut a big boost for foreign firms to invest in India: FM
India’s coal import declines by about 4% to 19 mn tonnes in July
Petrol price soars ₹1.59/ltr, diesel ₹1.31/ltr after Saudi Arabia attacks
Oil and gas sector expects 5% GST to favour hydrocarbon exploration
Cipla announces the closure of USFDA inspection at Bengaluru facility
Dr Reddy’s halts the worldwide supply of Ranitidine
Govt working on measures to make the steel sector ‘globally competitive’
Altico says evaluating options after default
Big Oil’s future may rest on climate debate over natural gas
HKEX said to rope in UBS, other banks to court LSE investors
Cipla announces the closure of USFDA inspection at Bengaluru facility
The US likely to escalate the trade war with China if no deal is agreed soon
WTO dispute over India’s tariffs on ICT goods: the US seeks to set by up of dispute panel
Government to make changes in rules of trade remedies to make them more effective
Thomas Cook nears collapse as travel giant relying on unlikely govt bailout
Non-life insurers register 17 pc rise in Aug new premium income at Rs 15,964 cr
FPIs withdraw Rs 4,193 cr from capital markets in Sept so far
Sugar industry set to start exports to China, Iran
SFIO challenges NCLT probe orders
Banking, FMCG to benefit from corp tax cut; pharma, IT to remain untouched: Report
FM ANNOUNCEMENT
Corporate tax rate to be 22% without exemptions, inclusive of surcharge and cess.
No Minimum Alternate Tax (MAT) applicable on such companies
Effective corporate tax rate after surcharge to be 25.17 percent
To attract investment in manufacturing, local companies incorporated after October 2019 will pay tax at 15 percent
That effective tax for new companies shall be 17.01 percent, including cess and surcharge. Companies enjoying tax holidays would be able to avail concessional rates post the exemption period.
Will give MAT relief for those opting to continue paying surcharge and cess. MAT has been reduced to 15 percent from 18.5 percent for companies who continue to avail exemptions and incentives:
To stabilise flow of funds into the market the enhanced surcharge announced in Budget 2019 will not apply on capital gains arising on sale of any security, including derivatives by foreign portfolio investors (FPI)
For listed companies which made announcement for public buyback before July 2019 it is provided that tax on buyback on shares of such companies will no be charged
Total revenue foregone by undertaking these measures is Rs 1.45 lakh crore per year
Morning Business News:
Oil crisis to have a limited impact on inflation: RBI Guv
Banks won’t declare NPA for MSME loans till Mar: FM
Trai floats paper to simplify, speed up M&A approvals
Coming up: Rs 20k-cr fund for non-NPA housing projects
Rana Kapoor sells 2.3% stake in YES Bank
Telecom body approves Rs 8,588 crore infra projects
JSW Steel promoters release pledged shares worth Rs 1,150 crore
Bank stake sales in a mutual fund, insurance subsidiaries hit a wall
RCom resolution professional seeks status quo on spectrum licenses
Lenders approve Rs 5071 crore debt restructuring plan of three IL&FS firms
Aluminum producers likely to see pressure on profits says NALCO chief
Reliance Jio has widest 4G network, Airtel’s network grows 3-fold: Trai
Tata Motors rolls out new EV powertrain tech
Apollo Hospitals in pact with US firm to launch healthcare drones
Modi to attend two round tables with CEOs of US companies
Mukesh Ambani’s shareholding has not increased in the company, says Reliance
No economic crisis in India, govt taking steps to make it stronger: Javadekar
Sitharaman may announce more measures on Friday to support the economy
Wipro Consumer Care and Lighting set up a venture fund to invest in startups
RBI caps term for banks’ concurrent auditor at three years
Banks to hold public meets with NBFCs until 15 Oct in 400 districts: Sitharaman
Coal mine allottees must do their bit to start output: Secy
Factory investment at a 3-year low of Rs 3.31 lakh cr in 2017-18: Survey
Global steel industry facing surplus production, says Union minister Dharmendra Pradhan
CBDT member hints at lower tax rates indirect tax code regime
Essel Group seeks time till March 2020 from mutual funds to clear dues
Rupee slips 10 paise to 71.34 against USD
Maruti Suzuki crosses 10-lakh-exports milestone from Mundra Port
Parliament nod on pesticide and seed bills likely next session: MoS Agri
Carcinogen scare sets off a global race to contain ranitidine
Morning Business News:
Fed cuts rates by 25 bps, gives mixed signals
Govt doing everything to bring high growth: Kant
FDI norms in coal mining, single-brand retail relaxed
Nalco declares record Rs 1,073 cr dividend for FY19
RBI plans to structure loan rates of NBFCs, HFCs
Trump orders more Iran curbs, Saudi shows evidence
Jio adds 85.39 lakh users, rivals lose 60 lakh: TRAI
Govt plans to give Rs 10L-cr EPFO corpus to a body
NTPC contains tariff rise with fall in coal imports, power blending
Govt bans e-cigarettes amid global concern over health risks
RBI decision to cut risk weights for retail loans credit negative: Moody’s
Icra sees FY20 steel demand growth shrinking to 5-6% from 7.9% in FY19
NCLAT asks RCom’s RP to approach NCLT for a refund of Rs 577 cr from Ericsson
Chinese cheer for Indian cancer-drug manufacturers
India’s steel consumption growth likely to slow to 6 percent: ICRA
Government scraps import duty on open cell LED TV panels
NTPC to build 5GW solar park in Gujarat
SRF shuts technical textiles plant in Thailand
Essar to double CBM gas production to 1 mmscmd
Strategic sale of BEML, NMDC unit accelerates
Electricity discoms owe ₹74,710 crores to gencos
Amazon partners with Western Union to allow purchases in cash
Government open to selling part of Air India to the foreign airline: Report
Bankers can now take the decision without fear; CVC sets up panel to examine fraud
After banks, RBI plans to structure loan rates of NBFCs, HFCs
London overtakes Mumbai in rupee trading
Tax collection misses the target by a wide margin; inches up 4.7%
44 lawmakers urge Trump administration to reinstate GSP for India
Rupee stems losses, rallies 54 paise to 71.24 vs USD on easing oil prices
Coffee Day sells tech park for Rs 2,700 cr to Blackstone to reduce debt
Morning Business News:
3 yr lock-in period on NRI’s bond investments waived
Mutual Fund units held by non-residents decline
Discom sector needs drastic reforms: Power secy
Sitharaman to announce another booster dose this week
Saudi attack: India may raise oil imports from Russia
Cos drag govt to court over GST on land lease pacts
CG Power case: Sebi bans Gautam Thapar, 3 others from mkts; orders a forensic audit
FDI in coal mining requires better pricing, logistics and regulation
Sebi seeks RBI help to attract corporate participation on comexes
Sebi seeks RBI help to attract corporate participation on comexes
Srei Infra moves regulators for buyback of NCDs from retail investors
Coffee Day inks deal with Blackstone to sell Global Village for Rs 2,700 cr
SAIL allowed to offload 25% of iron ore output
Trade interests, not diplomacy, will decide the RCEP pact, says Jaishankar
Over 6 crore EPFO subscribers to get 8.65% interest for 2018-19: Gangwar
AIAHL to issue bonds worth Rs 15,000 crore in September
Adani Power arm gets the nod to charge Rajasthan discoms higher coal cost
Oil prices sink 5% as quick Saudi output recovery seen
IL&FS group firms to sell 494 acres of land to pare debt
Indian equity, hybrid MFs have the highest expense ratios in the world: Morningstar
Saudi oil output to recover in two or three weeks after the attack
Meddo raises $3 million in pre-Series A funding led by SRI Capital
Srei seeks Sebi, RBI nod to buy back NCDs from retail investors
Icra revises the outlook on auto component sector to ‘negative’
Tata Power arm to exit South African JV Cennergi for $106 million
$45 billion at stake: Global investors unwinding as Narendra Modi euphoria wanes
Sensex crashes 642 points as crude oil woes persist
Investor wealth plummets Rs 2.72 lakh crore in two days of market fall
Rupee furthers loss by 18 paise as crude worries hurt sentiment
Emerging economies like India more vulnerable to big oil price moves: Report
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