WASHINGTON: The ongoing Covid-19 public health crisis has resulted in the creation of an “ecosystem” of innovation in India, Biocon chief Kiran Mazumdar-Shaw has said ahead of the annual India-US bio-pharma summit in Boston next week. Mazumdar-Shaw, 68, is one of the key speakers at the 15th edition of the […]
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4 reasons why India’s growing forex heap may be a problem | India News – Times of India
India’s foreign exchange stock has touched $600 billion – fourth highest in the world, ahead of Russia. That heap of dollars gives us macroeconomic stability. We now have enough to pay for 18 months of imports, whereas back in the crisis year of 1991 we didn’t have enough forex for […]
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Online gaming gains traction amid Covid – Times of India
NEW DELHI: As most of India stayed home since April last year due to Covid-induced restrictions, gaming has emerged as a strong category, with as many as 360 million Indians going online last year against 300 million in 2019. The 20% growth in gamers and heightened activity online also saw […]
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UK chancellor drawn into NRN, Amazon’s tax row – Times of India
BENGALURU: UK chancellor and N R Narayana Murthy’s son-in-law Rishi Sunak was pulled into a service tax dispute involving Murthy’s Cloudtail business on Amazon, forcing his office to issue a statement on taxes to be paid by digital businesses. An article in the UK publication The Guardian on Monday said […]
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E-filing norm for remittances eased – Times of India
Mumbai: The Central Board of Direct Taxes (CBDT) has relaxed norms relating to e-filing of Forms 15CA/15CB, which are mandatory prior to making outward remittances. Banks have been asked to accept such forms in physical format up to June 30. The tax board adds that a facility will be provided […]
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Large holding by three FPIs in Adani cos made markets jittery – Times of India
MUMBAI: On Monday morning, as it emerged that the accounts of three foreign funds with large exposure in Adani Group’s stocks have been frozen, investors on Dalal Street went into a panic mode. The three Mauritius-based foreign portfolio investors (FPIs) — Albula Investments, APMS Investment and Cresta Fund — together […]
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Retail inflation hits 6-month high, WPI at record 12.9% – Times of India
NEW DELHI: Retail inflation jumped to a six-month high in May on the back of pricey food and fuel, while wholesale inflation during the month hit a fresh high of 12.9%, signalling the strengthening of price pressures in an economy battling to get growth back against the backdrop of a […]
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Adani stocks tank as NSDL freezes accounts of 3 FPIs – Times of India
MUMBAI: The stocks of six Adani Group companies, run by billionaire businessman Gautam Adani, went into a tailspin on Monday after it came to light that accounts of three key foreign investors were frozen by depository NSDL, resulting in the conglomerate losing around Rs 70,000 crore market value at one […]
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How major US stock indexes fared Monday – Times of India
Gains in several big-name tech companies including Apple helped nudge the S&P 500 to another record high Monday, even as other parts of the market faltered. The benchmark index was lower for most of the day, then turned higher in the last 10 minutes of trading, ending up 0.2%. Trading […]
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High inflation due to daily rise in fuel prices: Chidambaram – Times of India
NEW DELHI: Senior Congress leader P Chidambaram on Monday said the reason for the high inflation in the country is the daily rise in petrol and diesel prices. His comments came on a day when retail inflation rose to 6.3 per cent in May, breaching the RBI’s comfort level, on […]