Category: Business

Magnificent Madhya Pradesh: Pitching for big investment

Newsroom24x7 Network Indore: Madhya Pradesh Chief Minister Kamal Nath today (18 October 2019) gave the categorical assurance that his government will ensure accountability and go all out to make Madhya Pradesh an investment -friendly state. The Chief Minister was speaking at the opening of “Magnificent MP” Investment Summit at Brilliant Convention Centre here in Indore

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Corporate tax rates slashed to 22% for domestic companies and 15% for new domestic manufacturing companies

Newsroom24x7 Network Panaji (Goa): Government of India has brought in the Taxation Laws (Amendment) Ordinance 2019 to make certain amendments in the Income-tax Act 1961 and the Finance (No. 2) Act 2019. This was announced by the Union Minister for Finance & Corporate Affairs Nirmala Sitharaman during a Press Conference in Goa on Friday 20

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FM announces amalgamation of banks to achieve higher economic growth

Newsroom24x7 Network New Delhi: Finance & Corporate Affairs Minister Nirmala Sitharaman on Friday, 30 August 2019, announced the Union Government’s decision to consolidate Public Sector Banks (PSBs) for strong national resence & global reach. The banks being amalgamated together handle 82% of PSB business and 56% of Commercial bank business. These are being brought together

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Indian Automakers’ Challenges to Persist After Weak 1Q: Fitch Ratings

Mumbai/Singapore: Subdued demand conditions that led to weak performance by Indian automakers in the first quarter of the financial year ending 31 March 2020 (FY20) will likely persist, adding to the challenges from the implementation of stricter emission norms under BS6 from April 2020, says Fitch Ratings. Most auto OEMs reported lower volumes and profitability

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Tata Motors showcases futuristic public transportation solutions in India

All‐new range of transport vehicles displayed at Prawaas 2019 Newsroom24x7 Network Mumbai: India’s leading bus brand, Tata Motors showcases seven new public transportation vehicles at Prawaas 2019. A biennial event, Prawaas 2019 displayed new technologies, innovations, products & services in the passenger transportation domain in Navi Mumbai from 25th to 27th of July, 2019. This

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Government withdraws enhanced surcharge on tax payable on transfer of certain assets

Newsroom24x7 Network New Delhi: Government of India today announced the decision to withdraw enhanced surcharge on tax payable on transfer of Equity shares in a company; Unit of an equity oriented fund; and Unit of a Business Trust from the current FY 2019-20. The the tax payable on gains arising from the transfer of derivatives

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Who is bent upon decimating the Auto Sector in India?

Lalit Shastri Bajaj Auto Chairman, Rahul Bajaj, while addressing shareholders at the company’s annual general meeting last month (July 2019), held the government responsible for falling demand and poor private investments in India. The auto industry is going through a very difficult period. Cars, commercial vehicles, and two-wheelers are going through a rough patch –

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India Licensing Expo 2019: Adarsh is Content Publisher of the Year

Newsroom24x7 Network Bhopal: Aadarsh Pvt Ltd, a children’s education and media company with headquarters in Bhopal – the capital of the central Indian State of Madhya Pradesh, has won Content Publisher of the Year Award at Economic Times Label Awards event, a part of India Licensing Expo in Mumbai. “We are pleased to have won

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Why speculate when Whispersinthecorridors is always first to tell you who goes where

Newsroom24x7 Network   New Delhi: Its not only in the case of the Bureaucracy, Corporate world, Banking sector and the Defence forces that  whispersinthecorridors.com always hits the bulls eye everytime it makes a forecaste but what’s amazing is that this platform is also a concrete source of credible information when it comes to projecting political developments well

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PM Modi, FM & Investment: Can investor confidence be won over a Budget?

Bhagyashree Pande   These are some prominent reasons why private investors continue to be wary of the government. This government would do well to look at the 80’s and 90’s of the 20th Century, when most investments took place in India. What the government in those days did well to inspire investor confidence. For beginners

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Indian Pharma growth in domestic market helps to offset pricing pressure in the US

Newsroom24x7 Network Mumbai/Singapore: Rising revenues in the domestic market helped Indian pharmaceutical companies counterbalance the ongoing pricing pressure on generic drugs in the US in the financial year ended 31 March 2019 (FY19), says Fitch Ratings. The US and India are the two key markets served by Indian pharmaceutical companies, which sell predominantly generic drugs.

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Indian OMCs to continue to be affected by soft margins, Capex

Newsroom24x7 Network Singapore/Mumbai: The financial profiles of India’s three oil-marketing companies (OMCs) – Bharat Petroleum Corporation Limited (BPCL; BBB-/Stable), Indian Oil Corporation Ltd (IOC; BBB-/Stable) and Hindustan Petroleum Corporation Limited (HPCL; BBB-/Stable) – may weaken modestly as gross refining margins are likely to remain soft in the financial year ending March 2020 (FY20) amid increasing

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Shady players, aviation scam and the boom and bust of airlines in India

Lalit Shastri The fate of now closed Kingfisher Airline, Air India’s huge debt burden and the latest grounding of Jet Airways raises several burning questions. The merger of Indian Airlines with Air India and the reckless acquisition of aircraft by these airlines ahead of their merger and many related issues has put the former Union

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Jet Airways is grounded as consortium of lenders refuse to fund critical services

Newsroom24x7 Network Mumbai: Late night this past Tuesday 16 April 2019, Jet Airways was informed by the State Bank of India (SBI), on behalf of the consortium of Indian Lenders, that they were unable to consider its request for critical interim funding. Since no emergency funding from the lenders or any other source was forthcoming,

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