Tuesday , 25 September 2018
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Business

Uber stops developing self-driving trucks

IANS   SAN FRANCISCO Global cab-hailing platform Uber has stopped developing self-driving trucks as the programme was no longer competitive in the freight shipping industry, the company announced. Uber said on Monday that it wants to refocus on the self-driving car programme, which was halted following a crash in which a Uber autonomous car killed a pedestrian in Arizona in ... Read More »

ECONOMIC SCAN

Dr Praveen Khullar heads pharma association PANAJI: The Goa Pharmaceuticals Manufacturers’ Association (GPMA) held its annual general body meeting on Sunday at Panaji. The new executive committee for 2018-2020, was formed comprising of Dr Praveen Khullar of Sanofi as president, Nilesh B Amonkar of Indi Pharma as vice president, Mahesh Gurnasinghani of Watson as secretary, Pareen Dashottar of Glenmark as joint secretary, ... Read More »

Benefit of ambiguity in tax exemption will be in favour of state, says SC

PTI   NEW DELHI Overruling its 21-year-old verdict, the Supreme Court Monday said that when there is ambiguity in tax exemption notification, the benefit of such uncertainty must be interpreted in favour of the State. It, however, reiterated that if in the event of ambiguity in a taxation liability statute, the benefit should go to the subject/assessee. A five-judge Constitution ... Read More »

No assessment made on impact of Walmart-Flipkart deal: Minister

IANS   NEW DELHI The government has not made any assessment of the direct impact on small traders of the US retail giant Walmart’s stake purchase in Flipkart, Parliament was informed on Monday. In its biggest takeover till date, Walmart Inc recently announced their acquisition of 77 per cent stake in Bengaluru-based e-commerce major Flipkart in a deal valued at ... Read More »

Dubai aims for 20mn tourists by 2020, India among top targets

IANS   KOLKATA Dubai is aiming for 20 million visitors from around the globe by 2020 and is heavily banking on tourists from India, which is currently the country’s number one source market with 13 per cent of its total tourist share, a Dubai Tourism official said here on Monday. “Our vision for year 2020 is to achieve 20 million ... Read More »

Jaitley sees GST rate cut on cement, ACs, TVs with rise in revenue

PTI   NEW DELHI Union Minister Arun Jaitley Friday exuded confidence that GST rates on cement, ACs and televisions will be cut as tax revenues from them increase, and only luxury and sin goods will attract the highest slab of 28 per cent. In a Facebook post, Jaitley termed the pre-GST indirect tax regime, during which most of the household ... Read More »

Over Rs 50,000 cr lost so far due to truckers’ strike: ASSOCHAM

IANS NEW DELHI The ongoing countrywide strike by truckers has led to an estimated direct and indirect loss of over Rs 50,000 crore to the economy and the government and transporters should resolve the crisis through negotiations, an ASSOCHAM statement said on Friday. Around 90 lakh trucks have been off the roads since July 20 with truckers protesting against high ... Read More »

Parliament passes bill amending Negotiable Instruments Act

IANS   NEW DELHI Parliamentary approval was accorded on Thursday to the Negotiable Instruments (Amendment) Bill 2018, which amends the 1881 bill to specify penalties for bouncing of cheques, and other violations with respect to such negotiable instruments with the Rajya Sabha passing the law. The Lok Sabha had passed the Bill on July 23. The Bill has a provision ... Read More »

Govt gives final nod to Vodafone-Idea merger

PTI   NEW DELHI Government Thursday gave final approval to the mega merger of Vodafone and Idea Cellular which creates India’s largest mobile operator with about 35 per cent market share and nearly 430 million subscribers. The new telecom behemoth — Vodafone Idea Limited — will dislodge Bharti Airtel, the current market leader with 344 million customers from its pole ... Read More »

Facebook lost $120 bn in market value over slow growth

IANS   SAN FRANCISCO Facing global backlash over the massive Cambridge Analytica data scandal, Facebook stock nosedived 20 per cent — wiping over $120 billion off the  company’s market value — after its revenue and user growth in the second quarter of 2018 fell short of investor expectations. The social media giant late on Wednesday reported 2.23 billion monthly active ... Read More »