Podcast: Japan court extends Carlos Ghosn detention by 10 days : Podcast: Business Today
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Podcast: Japan court extends Carlos Ghosn detention by 10 days

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BusinessToday.In | December 24, 2018

Jaitley, Kamal Nath to join over 100 Indian leaders at World Economic Forum in Davos

Finance Minister Arun Jaitley and two of his union cabinet colleagues are likely to travel to Switzerland's snow-laden resort town of Davos next month for the World Economic Forum (WEF) Annual Meeting, which would also be attended by three chief ministers, including Madhya Pradesh's Kamal Nath and over 100 Indian CEOs. Microsoft's Indian-origin CEO Satya Nadella and World Bank President Jim Yong Kim will be among the co-chairs of the 2019 edition of this annual congregation of world leaders from January 21-25.
India Inc welcomes GST slash; says the move to boost economy

India Inc on Sunday cheered the GST Council's decision to slash tax rates on 23 goods and services and said the move will push demand and boost the economy. The council reduced tax rates on goods and services including movie tickets, TV and monitor screens and power banks, and exempted frozen and preserved vegetables from the levy.The reduced rates are likely to come into effect from January 1, 2019
High bandwidth charges could spoil in-flight mobile services for India

High satellite bandwidth charges are likely to play a spoiler in the uptake of in-flight mobile services in India as these would make the facility costlier by 30-50 times at Rs 700-1,000 for a two-hour journey, says an industry official.The chief technology officer of broadband technology firm Hughes India, K Krishna, told PTI that satellite bandwidth charges in India are 7-8 times higher compared to other parts of the world due to the condition that bandwidth can be procured from Indian Space Research Organisation only.

Japan court extends Carlos Ghosn detention by 10 days

A Japanese court on Sunday extended for 10 days detention of ousted Nissan Motor Co (7201.T) chairman Carlos Ghosn, who is facing new allegations of making the carmaker shoulder $16.6 million in personal investment losses.The extension announced by the Tokyo District Court means Ghosn will remain in Tokyo's main detention centre, where he has been confined since his arrest last month on initial allegations of financial misconduct.

TCS, Wipro, IBM among firms shortlisted by RBI for setting up Public Credit Registry

The Reserve Bank of India has shortlisted six major IT companies, including TCS, Wipro and IBM India, to set up a wide-based digital Public Credit Registry (PCR) for capturing details of all borrowers and wilful defaulters. The proposed PCR will also include data from entities like market regulator Sebi, the corporate affairs ministry, Goods and Service Tax Network (GSTN) and the Insolvency and Bankruptcy Board of India (IBBI) to enable banks and financial institutions to get a 360-degree profile of the existing as well as prospective borrowers on a real-time basis

Rs 60,000 crore likely compensation to states this year for revenue loss under GST

The GST Council has estimated that in the current financial year, the total compensation cess required this year to pay to the states to compensate for the loss of revenue would be around Rs 60,000 crore compared to Rs 48,000 crore paid in the eight months of the last financial year. The GST was implemented from July 2017, and hence revenue from GST was available for the eight-month period last year.
Aadhaar all set for a massive revamp

Aadhaar, India's extraordinary attempt to give every citizen a biometric identity, is set for a massive revamp with new offline verification tools and non-intrusive ways for people seeking to voluntarily use the 12-digit unique number for new bank accounts and mobile connections. After twists and turns in 2018, led by the landmark Supreme Court ruling on the constitutional validity of Aadhaar, the UIDAI's efforts around offline modes like eAadhaar and QR code that can leverage the unique ID without any access to biometrics or even revealing the 12-digit number would gather pace in 2019.
Nine bank unions call for a strike against the proposed amalgamation of BoB, Vijaya Bank and Dena Bank

Close to 1 million employees of various banks, including private lenders, have called for a one-day strike on December 26 to protest against the proposed amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda. "This amalgamation is not in the interest of banks or bank customers. It is rather detrimental to both," the United Forum of Bank Unions (UFBU) said. The UFBU is an umbrella organisation of nine unions.