The Competition Commission of India (CCI) has approved Sumitomo Mitsui Banking Corporation’s (SMBC) proposal to acquire up to 24.99 per cent stake in Yes Bank, paving the way for the Japanese lender to become the private sector bank’s single-largest shareholder.SMBC, a wholly-owned subsidiary of Sumitomo Mitsui Financial Group (SMFG), is among the leading foreign banks…
The Centre is set to push for a 5 per cent tax on electric vehicles (EVs) as part of its ambitious overhaul of the Goods and Services Tax (GST) that seeks to lower tax rates on daily-use items ranging from butter to electronics. The all-powerful GST Council, chaired by Union Finance Minister Nirmala Sitharaman and…
States are set to emerge as “net gainers” under the planned Goods and Services Tax (GST) rate overhaul, with collections including devolution likely to cross Rs 14.10 lakh crore this fiscal, SBI Research has projected in its latest report.The study underlined that earlier rounds of rate cuts in 2018 and 2019 triggered a short-term dip…
Inflation in the eurozone rose slightly to 2.1% in August from 2% in July, official data showed on Tuesday, fuelling expectations that the European Central Bank (ECB) will keep interest rates unchanged at its policy meeting next week.The EU’s statistics agency Eurostat said the uptick was mainly driven by a smaller fall in energy prices….
As many as 13 companies, including Urban Company, which provides app-based beauty and home services, and Imagine Marketing, the parent of wearables brand boAt, have received Sebi approval to launch initial public offerings (IPOs), the regulator’s update on Tuesday showed.Other firms that obtained the clearance include Juniper Green Energy, Jain Resource Recycling, Mouri Tech, Ravi…
The current salary hikes are reportedly amongst the lowest in recent years. (AI image) TCS announces salary hikes! India’s biggest IT services provider, Tata Consultancy Services (TCS), has announced yearly salary hikes after a five-month postponement, offering most staff members raises between 4.5-7%. These increments correspond to the previous fiscal year ending March 2025. The…
India on its part has drawn its red lines on the trade deal, refusing to open its agricultural and dairy sectors. Commerce and industry minister Piysuh Goyal on Tuesday said that India and the US are negotiating a trade deal. The comments assume significance at a time when US President Donald Trump has imposed 50%…
File photo: Laurent Freixe Swiss food giant Nestlé has dismissed its chief executive Laurent Freixe with immediate effect after an internal investigation found he had an “undisclosed romantic relationship with a direct subordinate,” in violation of the company’s code of business conduct. The move was confirmed by the group on Monday, with chairman Paul Bulcke…
PM Modi receives first made-in-India chip Prime Minister Narendra Modi on Tuesday received the country’s first made-in-India semiconductor chip at the inauguration of Semicon India 2025 in New Delhi. Union IT minister Ashwini Vaishnaw presented the Vikram 32-bit processor, developed by Isro’s Semiconductor Lab, along with test chips from four approved projects.According to news agency…
Gold price prediction: Buying the dips is the preferred strategy. A test of all-time high at $3500 (Rs 105,500) looks highly likely. (AI image) Gold price prediction today: Gold rates have been hitting life-time highs and analysts are of the view that hopes of Federal Reserve rate cuts are driving the rally. Praveen Singh, Senior…
