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Tech

Vodafone Idea Says It Will Pay AGR Dues, Continuation of Business Depends on SC Order

Debt-ridden telecom operator Vodafone Idea on Saturday said it is assessing the amount that can be paid towards AGR dues, even as it flagged concerns over the continuation of its business. The company said it is in the process to pay adjusted gross revenue dues as per the Supreme Court order. However, the continuation of …

Politics

Passenger Vehicle Sales: Domestic passenger vehicle sales down 6.2% in January | India Business News

GREATER NOIDA: Domestic passenger vehicle sales declined 6.2 per cent to 2,62,714 units in January from 2,80,091 units in the year-ago month, automobile industry body SIAM said on Monday. Car sales last month were also down 8.1 per cent at 1,64,793 units as against 1,79,324 units in the January last year, according to data released …

Politics

As China returns to work, it is hardly business as usual

SHENZHEN: The Chinese economy will sputter towards normal on Monday after the coronavirus outbreak forced an extended holiday, although numerous stores and factories will remain shut and many white collar employees will continue working from home. The usually week-long Lunar New Year holiday was extended by 10 days in much of China amid mounting alarm …

Politics

200% import duty hike to hit toy business in India: Importers

KOLKATA: More than a one lakh retailers across the country will be hit by 200 per cent import duty hike, toy importers, who went on strike on Saturday, said. The Centre, in the Union Budget, has proposed raising the import duty on toys from 20 per cent to 60 per cent from the next fiscal, …

Politics

Income Tax Slabs: Government intends to have a simplified tax regime, says Nirmala Sitharaman | India Business News

NEW DELHI: Finance minister Nirmala Sitharaman on Friday said that the government has introduced taxpayers’ charter in the Union Budget 2020 as it intends to bring in a simplified taxation regime. Briefing the media following an interaction with industry representatives and economists, Sitharaman said taxation regime should be on the basis of trust with citizens …

Politics

SBI Home loan Rate: SBI cuts MCLR by 5 bps across tenors | India Business News

MUMBAI: The country’s largest lender State Bank of India (SBI) on Friday announced a 5 basis points (bps) reduction in its marginal cost of fund-based rate (MCLR) across tenors, effective February 10. This is the ninth consecutive cut in MCLR by the bank in the current fiscal. With this reduction, the one-year MCLR has come …

Politics

RBI Repo Rate: RBI leaves repo rate unchanged at 5.15% | India Business News

NEW DELHI: The Reserve Bank of India (RBI) on Thursday kept repo rate unchanged for the second consecutive time at 5.15 per cent and reverse repo rate at 4.90 per cent in its sixth bi-monthly monetary policy meet. It also decided to continue with its accommodative stance as long as it was necessary to revive …

General

China postpones high-level business forum amid coronavirus outbreak

China has postponed a high-level business forum that is usually held in late March amid an outbreak of the new coronavirus that has killed more than 420 people. China Development Forum, which is hosted by a foundation under the State Council, has delayed this year’s meeting until further notice, a media representative of the forum …

Politics

India Manufacturing Growth: India’s January manufacturing activity hits near eight-year high as orders jump | India Business News

BENGALURU: India’s manufacturing activity expanded at its fastest pace in nearly eight years in January with robust growth in new orders and output, a private survey showed on Monday, suggesting the economy may be getting back on firmer footing. In response to the jump in sales, factories hired new workers at the fastest rate in …

Politics

LIC IPO Budget 2020: LIC IPO may come in 2nd half of FY21, says finance secretary | India Business News

NEW DELHI: Listing of insurance behemoth Life Insurance Corporation (LIC) may be done in the second half of the next financial year, finance secretary Rajiv Kumar said on Sunday. Finance minister Nirmala Sitharaman while presenting the Budget 2020-21 on Saturday announced stake sale in LIC through an initial public offer in the next fiscal. There …