Amid reports that US telecom giant Verizon is among top suitors to acquire cash-strapped Vodafone Idea, a global Verizon official denied such plans on Tuesday.
American companies in China are increasingly pessimistic about the business outlook in the country, according to a survey by the American Chamber of Commerce in Shanghai. Only 52% of respondents expressed at least slight optimism about the next five years, the lowest level since the survey began in 1999.
The Indian rupee closed at a record low of 83.27 against the dollar, causing analysts to review their forecasts. Despite the Reserve Bank of India selling dollars in the forex market, the rupee continues to weaken. Factors such as rising US yields, higher oil prices, and expectations of interest rate hikes in the US are putting pressure on the rupee. The current account deficit and balance of payments have also raised concerns.
A study published by the RBI warns against a return to the Old Pension Scheme (OPS) in India, estimating that implementing it would create a fiscal burden 4.5 times greater than the existing National Pension System (NPS). The study cautions that reverting to OPS would have an adverse impact on government finances and increase fiscal stress to unsustainable levels in the medium to long-term.
The Authority for Advance Rulings (Tamil Nadu) has determined that transport services provided to students and staff of specific schools will not be subject to GST (Goods and Services Tax). Consequently, the fees collected by the service provider directly from parents for these services will also not be subject to GST.
According to a report by the Reserve Bank of India, the Indian economy is showing signs of strength due to increased private consumption and public sector capital expenditure. The report also predicts that global growth will be lower in the coming years, with emerging economies like India becoming key drivers of the global economy.
On September 13, the Serious Fraud Investigation Office (SFIO), in cooperation with the Mumbai Police, arrested Nalin Prabhat Panchal, a chartered accountant. This arrest was made based on specific intelligence, as Panchal had failed to respond to summons related to the prosecution of Nityank Infrapower and Multiventures.Co Valued At $18Bn, One Of Largest Bets From FIs In Sector from Business News Today: Stock Markets, Financial News, India Business & W...
