Ivanka Trump at Global Entrepreneurship Summit
President Donald Trump's daughter and advisor Ivanka Trump is in India for the Global Entrepreneurship Summit, the inaugural session of which will be addressed by Prime Minister Narendra Modi, Telangana Chief Minister K Chandrasekhar Rao and Ivanka. The summit is being hosted for the first time in South East Asia by the Governments of India and the United States.
Rejigging of loans
The Reserve Bank of India has allowed lenders to rely on provisional ratings for rejigging loans to distressed companies before resorting to the insolvency mechanism. During the next one month, large banks will try and spot distressed companies whose loans can be restructured based on provisional ratings.
GST collection drops
17 days after the GST Council slashed tax on about 200 items, the collection on the Goods and Service Tax (GST) for October slipped by almost 10 per cent to Rs 83,346 crore as compared to Rs 92,000 crore in the previous month.The drop is due to rates on several commodities being cut and tax administration being based on self-declaration as matching of returns, electronic transit permit system or e-way bill and reverse charging being postponed.
Insolvency petition against RCom
China Development Bank (CDB) has filed an insolvency petition against Reliance Communications in the bankruptcy court to recover $1.78 billion, or about Rs 11,460 crore, it had lent to the Anil Ambani-owned telcom company.
Facebook to detect suicidal intent
Facebook Inc will expand its pattern recognition software to other countries after successful tests in the U.S. to detect users with suicidal intent. Facebook has not disclosed many technical details of the program, but the company said its software searches for certain phrases that could be clues.
Mumbai airport breaks records
Mumbai airport is breaking its own records. It has set a world record of 969 flights within a 24 hour span, beating its last record of 935 flights. Mumbai's demand for air travel coupled with land-shortage has forced the private airport operator, the air traffic control and pilots to squeeze out maximum efficiency from the 12,008 feet long main runway 27.
RBI may raise key policy rates
Major global investment banks, Goldman Sachs and Morgan Stanley expect the Reserve Bank of India (RBI) to start raising key policy rates from next year for the first time in four years as economic growth may pick up and also inflation would rise on account of higher crude and commodity prices.
The EB-5 visa programme
More and more Indians are lining up to spend a million dollars to start a business in the US through a government-sponsored invest and migrate scheme. The EB-5 visa programme is a paid invitation to non-Americans to invest in the US and get a 'green card' for the investor and immediate family.
Sony India takes a hit
Japanese consumer electronics maker Sony India has taken a hit as its revenue declined for the second consecutive year. This is being attributed to a slowdown in televisions and an after-effect from the downsizing of its smartphone business.
Get paid to live in Switzerland
Imagine getting paid to live in the picturesque locales of the Swiss countryside. It is happening in reality. An actual Swiss village located in a valley is now offering people to relocate there. The mountain-facing village of Albinen in the Canton of Valais is a peaceful settlement of 240 people, with a church and chalets. The residents of Albinen are going to vote on November 30 to pass a new policy that would offer outsiders willing to settle there for at least a decade.