Business

Rs 30,600cr govt guarantee for ‘bad bank’ NARCL

Finance Minister Nirmala Sitharaman while addressing a press conference on Thursday announced that the Union Cabinet has approved the government’s guarantee for the National Asset Reconstruction Company. The idea of having a bad bank was first mooted by Nirmala Sitharaman in the Budget of 2020-2021. A ‘bad bank’ is...

Sep 16 · >

US, UK, Australia launch Indo-Pacific Alliance to counter China

The US, UK and Australia have announced a new trilateral security alliance for the Indo-Pacific to take on the threats of the 21st century and allow for greater sharing of defence capabilities, including help Australia acquire nuclear-powered submarines, in an effort to counter China’s growing power and military presence...

Sep 16 · >

8 out of 10 Indians want petrol and diesel under GST

Ahead of the GST Council meeting in Lucknow on Friday, a survey has found that 77% citizens want the government to bring petrol and diesel under the Goods and Services Tax (GST) amidst the spiraling prices. According to reports, the GST Council might on Friday may consider taxing petrol,...

Sep 16 · >

Modi to attend Biden’s Quad Summit

Prime Minister Narendra Modi will be part of the first-ever in-person Quad summit hosted by US President Joe Biden on September 24. Other invitees include Modi’s Australian counterpart Scott Morrison and Japanese premier Yoshihide Suga. The White House said that the four leaders would discuss deepening their ties and...

Sep 14 · >

Bommai demands extension of GST compensation

New Delhi: Amid fall in state revenue and GST collection in view of COVID-19 crisis, Karnataka Chief Minister Basavaraj S Bommai on Thursday demanded the Centre to extend the GST compensation period to states beyond 2022, for three more years. After a meeting with Union Finance Minister Nirmala Sitharaman,...

Aug 26 · >

Official Taliban websites go offline

Taliban websites that delivered the victorious insurgents official messages to Afghans and the world at large in five languages went offline abruptly Friday, indicating an effort to try to squelch them. It is not immediately clear, though, why the sites in the Pashto, Urdu, Arabic, English and Dari languages...

Aug 21 · >

Johnson & Johnson seeks approval of its single-dose Covid vaccine

Global healthcare major Johnson & Johnson on Friday said it has applied for Emergency Use Authorization (EUA) of its single-dose COVID-19 vaccine in India. Earlier on Monday, the company had said that it remained committed to bringing its single-dose COVID-19 vaccine to India and looks forward to ongoing discussions...

Aug 6 · >

IT Act amended to end retrospective tax demand

: The Union government on Thursday amended the Income Tax Act to end controversial retrospective tax demand. The move came after back-to-back setbacks in Cairn energy and Vodafone Group tax dispute cases. An Ordinance was introduced in Lok Sabha to scrap the dreaded retrospective changes made in Finance Act,...

Aug 5 · >

Microsoft in talks to buy stake in OYO

New Delhi, Jul 30: Microsoft is in advanced stages of discussions to pick up a stake in OYO that would value the hospitality firm at about USD 9 billion (around Rs 67,000 crore), according to sources. While the deal size is not known, sources close to the development said...

Jul 31 · >

Depositors to get money in 90 days if bank under moratorium

To provide relief to depositors in stressed banks, Union Cabinet on Wednesday cleared the amendments in Deposit Insurance and Credit Guarantee Corporation Act, 1961, (DICGC Act). The aim is to minimise the hurdles faced by depositors of banks like the Punjab and Maharashtra Co-operative (PMC) Bank, Yes Bank and...

Jul 28 · >