Breaking News

Business

Indian economy benefited from favourable external environment in 2019: DBS

PTI Singapore The Indian economy benefited from “favourable external environment” in 2019, following which portfolio inflows into equity and debt touched a multi-year high, and if this momentum is sustained it will bode well for the country’s external balance, a report said on Friday. According to Singapore’s DBS Banking Group, notwithstanding a challenging trade outlook, conducive global drivers, such as …

Read More »

IndoSpace launches 3 industrial, logistics parks

PTI Mumbai Everstone-backed IndoSpace on Thursday launched three industrial and logistics parks in Gujarat, Andhra Pradesh and Haryana.  With this, the company has added nearly 120 acres of space, which will boost IndoSpace to grow its footprint across significant regions and achieve its long-term goal of 120 million sqft of modern logistics infrastructure across the country.  IndoSpace has a portfolio of …

Read More »

Essar Steel announces cancellation of shareholder holdings

IANS Mumbai Essar Steel shares held by investors have been debited from their demat accounts, while those held in physical form as share certificates will also not be valid following the resolution plan which seeks to extinguish the capital, the company announced on Thursday. In an e-mail statement to investors, Essar Steel India Company Secretary Pankaj S. Chourasia said that …

Read More »

New products, healthy demand boost production growth: PMI survey

IANS New Delhi New product drives, along with healthy demand conditions boosted production growth during December 2019, a survey report said on Thursday. Accordingly, the IHS Markit India Manufacturing PMI said that India’s manufacturing output rose at “a marked pace in December, the joint-fastest in ten months”. The seasonally adjusted PMI reading rose to 52.7 in December from 51.2 in …

Read More »

GST officers meet to discuss ways to curb evasion, ITC fraud

IANS New Delhi Close on the heels of GST Council meeting where states pressed for better compliance to augment collection instead of raising rates, the Revenue Department will hold a brainstorming session of central and state GST officers on January 7 to discuss measures to curb evasion and fraud in input tax credit (ITC). “Discussions in the meeting would focus …

Read More »

Manufacturers seek GST cut to 12% on mobile handset inputs

IANS New Delhi Indian mobile handset manufacturers have sought a lower 12 per cent GST on the Parts and Accessories universe as per the phased manufacturing programme (PMP) roadmap as against the current 18-28 per cent. “GST applicable on inputs/components /sub-assemblies/accessories of mobile handsets should not be more than that of the GST applicable on the final/end product which is …

Read More »

Telangana gulps down liquor worth Rs 380 cr on New Year eve

IANS Hyderabad Tipplers and New Year revellers had a field day in Telangana as liquor worth Rs 380 crore was sold across the state during the last two days, officials said on Wednesday. Boozers and revellers gulped down liquor worth nearly Rs 200 crore on December 30 and 31 each against average daily sale of Rs 60 crore. Hyderabad and …

Read More »

Titan’s long term credit rating upgraded to ‘stable’

IANS New Delhi Titan Company on Wednesday said that Crisil Ratings has upgraded the ratings on its long term facilities to ‘stable’ from ‘positive’. The long term bank loan facilities of the company received ‘CRISIL AAA/Stable’ rating. The previous rating was at ‘Crisil AA+/Positive’. The luxury goods company has a total bank loan facilities of Rs 2,850 crore and commercial …

Read More »

V K Yadav assumes charge as Railway Board chairperson

IANS New Delhi Vinod Kumar Yadav on Wednesday assumed charge as chairperson Railway Board, a day after he was given an extension of an year by the Appointments Committee of Cabinet (ACC). According to Railway Ministry officials, Yadav assumed the charge as chairperson on Wednesday morning at the Rail Bhawan here. Yadav, an IRSEE 1980 Batch officer assumed the charge …

Read More »