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UK wants India raise its first international sovereign bond in London

UNI London UK Prime Minister Theresa May has voiced the hope that India would raise its first ever international sovereign bond this year in London’s capital market and the growing business links between the two countries would create jobs and prosperity from Manipur to Manchester. She also said new immigration rules after the UK left the European Union would help …

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‘Mutual interest of India, US to have smooth trading relationship’

PTI New York It is in the mutual interest of India and the US to have a smooth trading relationship and they can find ways to deal with some of the “minor speed bumps”, Indian Ambassador to the US, Harsh Vardhan Shringla said, amid bilateral trade frictions. Trade tensions between India and the US have been rising with President Donald …

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Banks bad loans down at ` 9.34 lakh cr at FY19-end: Sitharaman

PTI New Delhi Total bad loans of commercial banks declined by Rs 1.02 lakh crore to Rs 9.34 lakh crore in the 2018-19 fiscal on the back of steps taken by the government, Finance Minister Nirmala Sitharaman said Tuesday. The government has instituted a comprehensive 4R’s strategy for recognition of non-performing assets (NPAs) transparently, resolution and recovery of value from …

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India, UK to boost trade in food, healthcare

UNI London India and the UK have launched three new working groups to surmount barriers to bilateral trade in food and drink, life sciences and healthcare, and digital and data services. These working groups, to be run by the UK India Business Council with business chambers CII and FICCI, will identify  solutions to the key issues faced in each sector …

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GST cripples horse racing industry

UNI Hyderabad The GST (Goods and Service Tax) has crippled the horse racing industry both at Hyderabad and in the country, according to Hyderabad Race Club chairman Surrender Reddy. Addressing a press conference here on Monday night, he said that the government had imposed 28 per cent GST on horseracing compared to the average 7.5 per cent betting tax as …

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‘All companies have to meet minimum public float of 25%’

New Delhi: All listed companies will have to meet the minimum public shareholding norms by August 2020, Finance Secretary Subhash Chandra Garg said on Friday. “All companies to have 25% minimum public shareholding by August 2020”, Garg said at an event by CII on Budget.  DIPAM secretary Atanu Bhattacharya who was also there said 14 PSU companies do not meet …

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Forex reserves rises to $429.91 billion

Mumbai: India’s foreign exchange reserves increased by $2.232 billion during the week ended July 5, official data showed on Friday. According to the Reserve Bank of India’s weekly statistical supplement, the overall forex reserves rose to $429.911 billion from $427.678 billion reported for the week ended June 28. India’s forex reserves comprise Foreign Currency Assets (FCAs), gold reserves, Special Drawing …

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Ex-partners plan to rapidly expand India presence to shore-up market share

New Delhi: Lured by the prospects of the Indian market, many of Jet Airways’ partner airlines have decided to deploy their own capacity to the country. Till recently, Jet carried significant international traffic in and out of India. In over 20 years of existence, it had formed strategic alliances with some of the world’s leading airlines such as Delta. It …

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No change in dividend distribution tax

New Delhi: Finance Secretary Subhash Chandra Garg on Friday ruled out any change in the dividend distribution tax, but expressed flexibility that grandfathering tax on buybacks can be discussed with the revenue department. The key changes in Budget’s taxation-related measures affecting the deal market include the extension of buy-back tax-related provision to listed entities. This provision was earlier introduced as …

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No question of railway privatisation, some units will be corporatised: Goyal

New Delhi: Railway Minister Piyush Goyal Friday rejected opposition’s allegation that the government is working to privatise the national transporter, but said the ministry will invite investments for new technology, lines and projects in national interest. Replying to a discussion on Demands for Grants of the railways in the Lok Sabha, Goyal reeled out figures to claim that the Modi …

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