KKR to invest Rs 5,500 cr in Reliance Retail ventures

Mumbai (IANS) Reliance Industries Limited on Wednesday announced that global investment firm KKR will invest Rs 5,550 crore into its subsidiary Reliance Retail Ventures Limited to pick up 1.28 per cent equity in the company.

This investment…

Bharti Airtel, VIL shares plunge after Jio unleashes postpaid tariff war

Mumbai (IANS) Shares of telecom majors Bharti Airtel and Vodafone Idea Ltd (VIL) were under pressure on Wednesday after Reliance Jio announced a range of postpaid plans with several benefits, to take on both Airtel and Vodafone Idea in the postpaid…

Two-year extension of GST compensation cess levy likely to cover shortfall in tax collection

New Delhi (IANS) The GST Council is likely to approve a two-year extension of compensation cess levy on goods and services to allow Centre to pay entire shortfall in GST tax collection by states expected till June 2022.

Sources in the government…

SEBI may issue norms for minimum holding in liquid assets for MFs

New Delhi (IANS) The Securities and Exchange Board of India (SEBI) may soon come up with guidelines to mandate minimum asset allocation in liquid assets by debt mutual funds in their schemes.

Speaking at the Annual General Meeting of the Association…

Business sentiments recover, weak demand continues: CII Survey

New Delhi (IANS) With the gradual lifting of the restrictions on economic activities across the country, business sentiments have recovered with the CII Business Confidence Index surging to 50.3 in the July-September period.

During the April-June…

5% custom duty on Open Cell from Oct 1 even as domestic TV manufacturing yet to pick pace

New Delhi (IANS) Government will put five per cent customs duty on Open Cell, a key component for television manufacturing, from October 1, 2020, as one year exemption given to it ends on September 30.

The tax exemption on the key TV component…

No buyers for Air India may mean divestment to be put off

New Delhi (IANS) Air India is not finding any takers and the privatisation may be put off by three years, delivering a blow to the efforts to divest the national carrier.

It seems that due to the turbulence caused in the aviation sector by…

Centre proposes tax incentives for foreign funds shifting to GIFT City

New Delhi (IANS) In a bid to attract off-shore funds to set up their base in India, the Centre has proposed tax incentives or foreign funds who decide to shift their base to International Financial Services Centre (IFSC) at the Gujarat International…

Apple to celebrate Diwali with 1st India online store on Sep 23

New Delhi (IANS) Ending months of speculation, Apple is all set to launch its first exclusive online store in India on September 23 just ahead of the festive season, offering a full range of products, support and premium experience to consumers across…

Make in India: Centre enhances approval free limits for FDI in defence

New Delhi (IANS) To accelerate the inflow of investments, and employment generation, the Centre has enhanced the FDI limit for the defence sector by allowing up to 74 per cent capital via automatic route.

Government approval will be required…