The Income Tax Department on Tuesday launched a nationwide verification exercise. (Photo: IANS) NEW DELHI: The income tax department on Tuesday said it conducted a nationwide field verification exercise, including in some border districts, against a group of entities and fictitious charitable trusts, alleged to have sent “large” amounts of funds outside the country over…
Klaus Zellmer, the Chief Executive Officer (CEO) and Chairman of the Board of Directors of Škoda Auto. (Photo: Reuters) MUMBAI: Skoda Auto is gearing up to debut its electric vehicle (EV) in India in 2028, CEO Klaus Zellmer said in an interview here on Tuesday.The company is looking to step up growth in the market…
Tata Sons was forced to adjourn its 108th annual general meeting on Tuesday after a regulatory action deprived the company of the quorum required to transact business. MUMBAI: In a first, Tata Sons was forced to adjourn its 108th annual general meeting on Tuesday after a regulatory action deprived the company of the quorum required…
Prisma Global’s bond offering draws strong investor response, expanding India’s AI companies’ access to debt markets MUMBAI: A Rs 50-crore bond offering, at an interest rate of 10% for a two-year tenure, opened for subscription on Monday, and was fully subscribed within the first hour. By 3pm the issue was subscribed nearly eight times. There…
Government approves 31 more ECMS applications, attracting proposed additional investments of Rs 7,877 crore NEW DELHI: Govt has approved another 31 applications, involving proposed additional investments of Rs 7,877 crore under the Electronics Components Manufacturing Scheme, or ECMS. The projects will manufacture products, including printed circuit boards, camera modules, optical transceivers, electronic enclosures and materials…
A large portion of Indian exports of these products already attract antidumping and countervailing duties in the US. India has approached the World Trade Organisation (WTO) over the Donald Trump administration’s move of announcing safeguard tariffs of 25% to 55% from August 15 for quartz surface products.India approached the WTO on August 14 seeking consultations…
US and Canada hold last-minute talks to stop Trump’s 50% tariffs The United States and Canada are in a race against the clock to reach a tariff agreement before a 12:01 am Wednesday deadline imposed by US President Donald Trump.Failure to strike a deal could see Trump impose 50% tariffs on $20 billion worth of…
Technology shares have swung sharply this summer as investors question whether valuations have risen too far. US stock market today: Wall Street benchmarks moved further away from their record high on Tuesday as technology shares related to the artificial-intelligence boom came under renewed selling pressure.The S&P 500 declined 0.5%, putting it on course for a…
Global oil stocks are under pressure, and the scale of disruption is particularly difficult to determine. The US-Iran war may have led the world to see one of the biggest oil supply disruptions in history but crude prices have largely seen a limited spike. But, for how long? The Middle East conflict is showing no…
AI is becoming a part of finance but governance has to catch up What if your next financial advisor is an AI?You could ask how much tax you owe, whether a particular investment is too risky, whether you can afford a home loan, or which financial product suits your needs.For companies, the questions get bigger:…
