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Business / Rediff

Rural sales bring cheers to motown

Analysts said the demand recovery in two-wheeler and car segments was skewed towards the semi-urban and rural markets.

2 Jul 2020 7:02 pm
Private train ops likely by April 2023: Railways

The introduction of private players would mean that trains will be available on demand and that passenger waitlist will decrease.

2 Jul 2020 6:19 pm
Apps ban: Will Indian players' dream run continue?

The idea behind starting Chingari is not to build a TikTok clone but to position itself as a super app for India like WeChat.

2 Jul 2020 5:39 pm
Jio Platforms deals a big boost for PE investments

Investments totaling over $9.5 billion in Jio Platforms by a clutch of private equity firms, following social media giant Facebook's $5.7 billion mid-April investment in the company, helped overall.

2 Jul 2020 4:01 pm
Chinese app ban: Indian start-ups face a major hurdle

According to experts, the banning of the apps has created negative sentiments and reduced the confidence among the Chinese investors to invest in India.

2 Jul 2020 2:42 pm
'It is difficult for us to get rid of China overnight'

'China feels India will be hard-pressed not to go after China because we are so badly dependent on them -- and that is the reality.'

2 Jul 2020 1:20 pm
TikTok could lose $6 bn following India's ban: Report

'The loss of Chinese internet company Byte Dance, mother company of TikTok, could be as high as USD 6 billion after the Indian government banned 59 Chinese apps, including TikTok following deadly border clash between India and Chinese troops last month,' reported Global Times citing sources.

2 Jul 2020 1:15 pm
Guess who's benefited from China conflict? Hong Kong

In the last five years, imports from HK have more than tripled -- from $5.6 billion in FY15 to $17.1 billion in FY20. In the same period, exports declined by 20 per cent -- from $13.6 billion in FY15 to $10.8 billion (annualised) in FY20.

2 Jul 2020 10:54 am
CBI books GVK chairman for defrauding Mumbai airport

The Central Bureau of Investigation has booked Venkata Krishna Reddy Gunupati, chairman of the GVK group of companies, and his son G V Sanjay Reddy, managing director of Mumbai International Airport Ltd, among others for alleged irregularities to the tune of Rs 705 crore in running of the airport, officials said.

2 Jul 2020 10:41 am
Tech alumni plan to raise 21,000 cr to fight COVID-19

Over 5 million alumni from the Indian Institutes of Technology, Mumbai University and Institute of Chemical Technology, Mumbai, plan to raise Rs 21,000 crore to start the world's largest infection testing lab in Mumbai.

2 Jul 2020 7:57 am
Markets ride on HDFC twins, RIL; Sensex up 499 pts

Axis Bank was the top gainer in the Sensex pack, soaring over 6 per cent, followed by Bajaj Finserv, HDFC, Bajaj Finance, ITC, IndusInd Bank, SBI, ICICI Bank and Reliance Industries.

1 Jul 2020 5:42 pm
No stamp duty on redemption of MFs, only on switching

Regarding the applicability of stamp duty on redemption of mutual fund (MF) units, Sebi said, Redemption is not liable to duty as it is neither a transfer nor an issue nor a sale. However, switching in mutual fund would attract stamp duty. The issue of fresh units in the switched scheme would attract stamp duty even though there is no physical consideration paid or transfer of ownership, Sebi said.

1 Jul 2020 5:30 pm
Mobile makers turn down DoT's demand for source code

The mobile phone manufacturers are planning to plead with the government that the new rules suggested by the DoT could leave them with no option but to stop introducing new phone models in the country if the stringent rules are eventually approved.

1 Jul 2020 4:33 pm
Ban 2: No more Chinese firms in highway projects

India will not allow Chinese companies to participate in highway projects, including those through joint ventures, Union Minister Nitin Gadkari said on Wednesday amid the border standoff with China. Gadakri also said the government will ensure that Chinese investors are not entertained in various sectors like the micro, small and medium enterprises (MSMEs).

1 Jul 2020 4:12 pm
New FDI policy in, FB seeks legal advice on Jio stake

Sources say the Mark Zuckerberg-led company wants to ensure there are no issues in its investment in the subsidiary of Reliance Industries and has roped in one of the Big Four consultancy firms to advise it on how the new eneficial ownership norms would apply to the proposed investment in Jio.

1 Jul 2020 3:16 pm
Mutual fund investors to pay stamp duty from today

Investors who issued units in liquid and overnight funds, as well as those with a short-term holding of less than 30 days, are likely to be impacted the most, say experts.

1 Jul 2020 2:12 pm
Customs to clear pharma raw materials from China

Apart from them, consignments of 11 top importers, including LG, Samsung, Toyota, Honda, and Siemens, will also be allowed entry, relieving them of the 100 per cent inspection rule.

1 Jul 2020 1:07 pm
At Rs 73,878 cr, Vodafone posts India's highest loss

Vodafone Idea, the country's third largest telecom operator, on Wednesday reported a staggering Rs 73,878 crore of net loss in fiscal ended March 2020 -- the highest ever by any Indian firm -- after it provisioned for Supreme Court-mandated statutory dues. The firm, which has to pay Rs 51,400 crore dues after the apex court ordered the non-telecom revenues to be included in calculating statutory dues, said the liability has cast significant doubt on the company's ability to continue as a going c

1 Jul 2020 12:08 pm
India's Chinese app ban may hit their valuations

The banned Chinese apps, which include TikTok, Shareit and UC Browser, earn revenue mainly from online advertisements, subscriptions, and commissions for selling products. India is the biggest driver of these Chinese apps due to the population. The ban on the 59 Chinese apps will negatively affect the valuations of the companies, especially those going for IPO.

1 Jul 2020 11:21 am
Can Indians live without Chinese imports?

'India imports 70 per cent of its bulk drugs from China. Are we going to live without antibiotics?' asks Debashis Basu.

1 Jul 2020 10:00 am
'Ministry should end controversies related to GDP'

There has been criticism of the official statistics ever since MoSPI came out with new methodology to estimate the GDP on the base year of 2011-12 compared to earlier 2004-05.

30 Jun 2020 10:34 pm
Freight rates on key routes zoom on diesel price hike

This will have an impact on inflation as everyone in the value chain passes on the costs.

30 Jun 2020 10:16 pm
FPI investments from China likely to be capped at 5%

Other measures being considered include relatively stringent KYC norms and a separate standard operating procedure for approval, renewal, and fresh investment from India's neighbouring countries.

30 Jun 2020 1:55 pm
Want to know what India's top bankers are up to?

The bosses of SBI, Union Bank and Central Bank have been driving down to their offices everyday to take stock of the biggest loan drive ever undertaken for MSMEs, discovers Tamal Bandyopadhyay.

30 Jun 2020 10:51 am
Import restrictions likely on 371 Chinese goods

The government has been gearing up to place tighter restrictions on the import of 371 items - ranging from toys and plastic goods to sports items, and furniture worth $127 billion.

30 Jun 2020 10:42 am
Will comply with ban, invited to meet govt: TikTok

The Government of India has issued an interim order for the blocking of 59 apps, including TikTok, and we are in the process of complying with it. We have been invited to meet with concerned government stakeholders for an opportunity to respond and submit clarifications, Nikhil Gandhi, head of TikTok India, said.

30 Jun 2020 10:34 am
'I can't see an Elon Musk anywhere in India'

'Saying the private industry will come and transform India's space programme is real moonshine!'

30 Jun 2020 9:31 am
Rolls-Royce Cullinan is truly a work of art

The Cullinan's exterior is completely customisable, and hence you get to choose exactly how your it should look.The hand-built interior offers immaculate precision and makes you feel exclusive, as every Rolls-Royce does.Driving this vehicle is a breeze, and the gearbox functions like it does not exist.

30 Jun 2020 8:49 am
Sell household gold, revive the economy

'There is a misconception that gold is a dead asset in India.' 'Around 30 per cent of agriculture loans are collateralised by gold, Soumya Kanti Ghosh and Saket Hishikar, economists at the SBI, point out.

30 Jun 2020 8:32 am