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My World

Maharashtra for hike in import duty on edible oil

Maharashtra chief minister Devendra Fadnavis has demanded immediate hike in import duty of edible oil to support farmers as the sowing of oilseeds is on while soybean prices are depressed to 6-year low.

In a letter to food minister Ram Vilas Paswan, Fadnavis said the Centre should immediately increase the import duty on crude edible oil to 35 per cent and on refined cooking oils to 50 per cent to motivate domestic farmers to plant oilseeds crops, sources said.

Tech majors mum on Net surveillance

Facebook Inc, Alphabet Inc’s Google, Apple Inc and other major technology firms are largely absent from a debate over the renewal of a broad US internet surveillance law, weakening prospects for privacy reforms that would further protect customer data, according to sources familiar with the matter.

While tech companies often lobby Washington on privacy issues, the major firms have been hesitant to enter a fray over a controversial portion of the Foreign Intelligence Surveillance Act (FISA), industry lobbyists, congressional aides and civil liberties advocates said.

Trump, Putin had previously undisclosed visit at G20 dinner

US President Donald Trump and Russian President Vladimir Putin had a previously undisclosed conversation during a dinner for G20 leaders at a summit earlier this month in Germany, a White House official said on Tuesday.

The two leaders held a formal two-hour bilateral meeting on July 7 in which Trump later said Putin denied allegations that he directed efforts to meddle in the 2016 US presidential election.

First Indian oil behemoth to be reality in a year

The government on Wednesday took the first step towards consolidation in the oil sector by approving sale of its entire 51.11 per cent shareholding in India’s third-biggest fuel retailer Hindustan Petroleum Corporation (HPCL) to state-owned oil explorer Oil and Natural Gas Corporation (ONGC).

Tatas weigh streamlining of technology operations

Tata Group, the conglomerate that manages more than 100 operating companies, is weighing a plan to streamline its technology and infrastructure businesses, people with knowledge of the matter said.

Banks to take `18,000 cr hit for 12 bankruptcy cases

Banks need to provide an additional Rs 18,000 crore in FY18 towards the 12 accounts identified by the Reserve Bank of India (RBI) for reference to the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, according to India Ratings and Research

HNIs, companies dominate derivatives market

The Securities and Exchange Board of India (Sebi) has released a discussion paper earlier this month, soliciting feedback from market participants on how to grow and develop equity derivative markets in the country.

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