Monday , 16 September 2019
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Cong to give 3-year blanket pass to new ventures; abolish angel tax

PTI   NEW DELHI Congress President Rahul Gandhi on Thursday said new ventures will not require any regulatory permissions for three years and will get easy access to bank credit if his party is voted to power. In an exclusive interview to PTI, he also promised to remove the existing ‘angel tax’ imposed on start-ups. Angel tax is levied on …

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US stocks fall amid economic slowdown worries

IANS   NEW YORK US stocks closed lower, as investor sentiment continued to be dampened by persistent inverted yield curve, as long-term US Treasury bills kept falling throughout the day. The Dow Jones Industrial Average was down 32.14 points, or 0.13 percent, to 25,625.59 on Wednesday. The S&P 500 fell 13.09 points, or 0.46 percent, to 2,805.37. The Nasdaq Composite …

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Sony to close smart phone plant in China

REUTERS   BEIJING/TOKYO Sony Corp will close its smartphone plant in Beijing in the next few days, a company spokesman said, as the Japanese electronics giant aims to cut costs in the loss-making business. Sony will shift production to its plant in Thailand in a bid to halve costs and turn the smartphone business profitable in the year from April …

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New broadcast regime is transparent, fair: TRAI

IANS   NEW DELHI Telecom regulator TRAI has asserted that the new broadcast tariffs have put in place a system of transparency, non-discrimination and fairplay, while reducing the bills of the average TV watcher. “The implementation of the new broadcast tariff regime is working out very well. The monthly bills of thousands of consumers have also been reduced. The consumer’s …

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Raghuram Rajan says he will return if there is an opportunity to be of use

PTI   NEW DELHI Amid speculation that he may be the finance minister if an opposition alliance wins the ensuing general elections, the former RBI Governor Raghuram Rajan has said he is willing to return to take an opportunity where he could be of use. Rajan, a former chief economist at the International Monetary Fund who was denied a second …

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Walmart to assist 10K farming families in AP

UNI NEW DELHI/AP The Walmart Foundation will support ten thousand smallholder farmers in Andhra Pradesh providing a grant of US $ 750,000 (Rs 5,16,45,000). The US multinational company in collaboration with International Development Enterprises – India (IDEI) will help in strengthening the farming community in the southern state. “IDEI under the sustainable irrigation products and practices program will take its …

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ECONOMIC SCAN

Banks to be open on March 31 PANAJI: The RBI has asked all public sector banks to remain open on March 31, to facilitate government receipt and payment transactions. Banks are advised to keep all their branches dealing with government business open on the last day of the financial year 2018-19 and give due publicity about the availability of services. …

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India, China, US see 70% rise in energy demand: IEA

IANS   NEW DELHI China, the US and India together accounted for nearly 70 per cent of the rise in energy demand, even as such demand worldwide grew by 2.3 per cent last year, at its fastest pace this decade, the International Energy Agency (IEA) said on Tuesday. This exceptional rise in energy demand was driven by a robust global …

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ECONOMIC SCAN

Seminar on legal remedies for property issues at GCCI PANAJI: With the aim of resolving issues plaguing land and homeowners in the state, the GCCI in association with The Council for Social Justice and Peace is organising a seminar on ‘Property issues and legal remedies’ on March 30, from 4 pm to 5.30 pm at the GCCI convention hall. The seminar is …

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Pension, PF dues not part of liquidation estate: NCLT

IANS   NEW DELHI The National Company Law Tribunal’s (NCLT) New Delhi bench has ruled that the dues of provident fund (PF), pension and gratuity do not form the part of liquidation estate of corporate debtors. According to the NCLT, such dues cannot be included in the assets to be liquidated for settling the claims of creditors in accordance with …

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