Equity and bond markets made a strong comeback on Thursday, as stocks rallied with US President’s office and US Federal Reserve trying to ease escalated trade tensions with China and the RBI’s dovish monetary policy statements led to a rally in the bond market. Equity market benchmarks Sensex and Nifty gained 1.75 per cent and 1.94 per cent, respectively, with financials contributing the most to index gains. The fall in bond yields led to a rally in the shares of banks and non-banking finance companies (NBFCs).
The government is preparing an action plan to recover revenues from high networth defaulters like Nirav Modi and Vijay Mallya who escaped the law and slipped out of the country leaving the tax authorities in an embarrassing and helpless spot.
The Central Board of Direct Taxes (CBDT) has formed a committee tostudy these cases and prepare an action plan for due revenue to be extracted from them and ensure that the tax authorities are not left in the lurch.
The conviction of Salman Khan in the 1998 blackbuck poaching case has pushed Bollywood into a nervous spell as approximately Rs 1,000 crore is riding on the superstar. One of the biggest money-spinners in the industry, Salman was working on a slew of films that are scheduled for release in coming months. A Jodhpur court gave five-year jail term to Salman and imposed a fine of Rs 10,000 on him.
Fellow actors Saif Ali Khan, Sonali Bendre, Tabu and Neelam have been acquitted.
It is a clean sweep for Star. After three days of intense bidding, BCCI awarded media rights for all bilateral cricket in the country to Star India for Rs 6,138.10 crore, for a period of five years. The media rights include both — television and digital media — for all international matches played by the Indian cricket team at home from April 2018 to March 2023. Star India, which retained the rights, will be paying around Rs 60.17 crore per match to the BCCI.
The government on Wednesday said amendments to the Insolvency and Bankruptcy Code (IBC) would be prospective in nature.
On an inconclusive day two of the BCCI media rights e-auction, the cash registers continued to ring. Cash rich BCCI, smug that its experiment of an e-auction is working well, is expected to pouch a veritable bonanza from the three-way race between Star, Sony and newbie Reliance Jio, which will continue on Thursday. Already, it has virtually doubled what it earned from the previous cycle of media rights after two days of bidding for the next five years of Indian cricket.
Within a few months of its launch, Google Tez has grabbed the leadership position in the payment app/mobile wallet space, overtaking Paytm. But industry experts find that incentives offered by Google Tez are leading to
Hiring activity in the country is likely to get a boost this year in key sectors such as manufacturing, technology, renewable energy, among others, due to robust economic growth, according to recruitment firm Michael Page India.
“With the Indian government constantly pushing reforms to receive economic growth through proactive measures, we are anticipating these optimistic trends to continue across the key sectors,” its managing director Nicolas Dumoulin said.
The report, employment outlook 2018, has compiled employment figures from its database in the last 12 months.
Cricket makes the mare go round with money strapped on her back. Cash rich BCCI is set for another big bonanza as prognosticated by FC on Tuesday morning with Star, Sony and Jio engaged in a bidding war for the Global Consolidated Media Rights (GCR) for the 2018-2023 cycle of India’s home bilateral series, which is currently valued at Rs 4,442 crore, after the end of the opening day of the first ever e-auction.
If you thought you will be able to talk to your dear ones on phone while flying, you are in for disappointment at least for now. The Department of Telecom (DoT) has grounded the Trai proposal on allowing mobile services onboard aircraft.