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Joe C Mathew
New Delhi, July 20, 2018
In terms of optics, the inauguration of the world's largest mobile phone facility of Samsung in Noida by Prime Minister Narendra Modi and South Korean President Moon Jae-in was undoubtedly the catchiest take away from the Korean leader's recent India visit.


BusinessToday.In
New Delhi, July 19, 2018
Contrary to expectations, gold prices have been dipping steadily over the past few weeks. In fact, according to Reuters, the yellow metal extended falls to a one-year low in the global markets today.


Joe C Mathew
New Delhi, July 19, 2018
Maharashtra milk producers are getting Rs 16 to Rs 19 a litre of milk as against an average milk procurement rate of Rs 25 per litre in other milk producing states like UP, MP.


BusinessToday.In
New Delhi, July 18, 2018
India may not invite punitive sanctions from the US for its oil dealings with Iran and defence deals with Russia; Directorate General of Trade Remedies has recommended 25% safeguard duty on imported solar cells for 2 years and the trade war between US and China could go up to penal import tariffs on up to $500 billion worth of goods. BusinessToday.In Editor Rajeev Dubey explains this and more on The Good, The Bad and The Ugly.


Mail Today Bureau
July 18, 2018
The imported products which have become more expensive include woven fabrics, dresses, trousers, suits, carpets and baby garments. This will have an impact on international brands like Burberry, Chanel, Fendi and Gucci which sell here garments made in other manufacturing hubs.


BusinessToday.In
July 17, 2018
Despite vociferous protests from solar developers, the Directorate General of Trade Restrictions (DGTR) has finally recommended that a 25 per cent safeguard duty should be imposed on imports of solar cells and modules from China and Malaysia for the first year.


BusinessToday.In
July 14, 2018
The trade deficit in June 2018 is the highest since November 2014 when the gap was USD 16.86 billion. The deficit in June 2017 stood at USD 12.96 billion.


PTI
New Delhi, July 13, 2018
The trade deficit in June is the highest since November 2014 when the gap was $16.86 billion. Oil imports during the month were up 56.61 per cent to $12.73 billion.


Sumant Banerji
New Delhi, July 12, 2018
The maker of Reva, India's first electric car, Chetan Maini and Uday Khemka's SUN Mobility has joined hands with American tech giant Microsoft to build a smart network to effectively deploy its universal energy infrastructure.


Rahul Shrivastava
July 12, 2018
The GST Council had formed a GoM (Group of Ministers) in May to look into the into the food ministry's proposal for the creation of a corpus of Rs 6,700 crore through a levy of up to Rs 3 per kg on sugar over the existing GST of 5 per cent on the good.


BusinessToday.In
July 12, 2018
Though India is yet to make its stand on Iran oil official, Indian refiners have reportedly already started cutting down on imports.


BusinessToday.in
New Delhi, July 10, 2018
China agrees to cut tariffs on Indian cancer drugsChina said on Monday it had reached an agreement with India to reduce tariffs and increase imports of Indian medicines, particularly anti-cancer drugs. The decision was part of its efforts to broaden trade relations amid its on-going spat with the United States. Both India and China slashed import tariffs of a range of products starting July 1, following the fourth round of negotiations under the Asia Pacific Trade Agreement (APTA), which also includes Bangladesh, Laos, South Korea and Sri Lanka.Income Tax dept sells Cairn Energy shares in Vedanta for $216 millionCairn Energy said it would write down the value of its investment in Vedanta Ltd after Indian tax authorities sold $216 million worth of its shares in the Indian mining company to recover a part of Rs 10,247-crore demanded as retrospective tax. The UK company said it still holds about 3 per cent in Vedanta Ltd after the sale, while warning that it was possible that the Indian tax department might make further sales.Department of Telecom conditionally approves Idea-Vodafone merger dealThe Department of Telecom (DoT) gave its nod to the Vodafone India-Idea Cellular deal to form the biggest telecom entity in India, but with some riders. An official told PTI that DoT has cleared the Vodafone-Idea merger. They will have to meet conditions for final approval. Earlier, it was reported the DoT was looking to raise a fresh demand of around Rs 4,700 crore ahead of the merger deal between Vodafone India and Idea Cellular over one-time spectrum charges on Vodafone.Mark Zuckerberg overtakes Warren Buffet to emerge world's third-richest man with $81.6 bn net worthFacebook's stock has not only recovered from the hammering it took in the wake of the Cambridge Analytica privacy scandal earlier this year, but spiked 2.4 per cent to hit an all-time high on Friday. And in the bargain, it has propelled its co-founder and CEO Mark Zuckerberg into the Top 3 list of billionaires. He is now the world's third-richest man after Amazon's Jeff Bezos and Microsoft co-founder Bill Gates.Malaysia's IHH Healthcare Berhad outbids TPG-Manipal in the battle for Fortis: ReportIn its second round of bidding, cash-strapped Fortis Healthcare received only two binding bids, from Malaysia's IHH Healthcare Berhad and TPG-backed Manipal Health Enterprises Ltd. And the buzz is that the former has an edge over FHL's earliest suitor. According to Mint, IHH is likely to acquire control of India's second-largest private hospital chain with a binding offer for a stake of at least 51 per cent for Rs 4,700-5,400 crore.Yahoo Japan buys back $2 billion of shares in three-way deal with SoftBank, AltabaYahoo Japan Corp is buying back around $2 billion worth of its shares from SoftBank Group Corp as part of a three-way deal with its top shareholders, U.S. investment firm Altaba Inc and SoftBank.The deal will see Altaba, which was formerly the internet giant Yahoo! Inc, sell down its stake in Yahoo Japan by around $2 billion and SoftBank raise its stake slightly in Yahoo Japan to around 48 percent.


Ananth Krishnan
July 10, 2018
India has particularly pressed China to open up its market for pharmaceuticals. There is widespread demand in China for Indian anticancer drugs which are often one-tenth the cost of the Western drugs that are available in China.


BusinessToday.In
New Delhi, July 9, 2018
India on the road to become global handset manufacturing hub; rupee may breach 70 mark against dollar; US-China tariff war could escalate from $34 billion to up to $500 billion. BusinessToday.In Editor Rajeev Dubey explains this and more on The Good, The Bad and The Ugly.


Prosenjit Datta and Rajeev Dubey
New Delhi, July 9, 2018
As the Goods and Services Tax turned one, Business Today organised a discussion to understand how the journey had been so far, and what needed to be done in future. The panel, comprising Anita Rastogi, partner, indirect tax, PwC; Abhishek A. Rastogi, partner, Khaitan & Co; Atul Gupta, senior director, Deloitte, Haskins & Sells LLP; Ajay Sahai, Director General & CEO, Federation of Indian Export Organisations; Harpreet Singh, partner, indirect tax, KPMG; and Anil Bhardwaj, secretary general, Federation of Indian Micro & Small and Medium Enterprises held a 90-minute discussion


Manu Kaushik
New Delhi, July 9, 2018
Business confidence slides in the first quarter of 2018/19 as businesses feel the pinch of GST and brace for policy inaction and higher interest rates, finds the latest Business Today-C fore Business Confidence Survey.


Virendrasingh Ghunawat
Mumbai, July 6, 2018
It's not only the diamantaires Nirav Modi and Mehul Choksi who conspired and cheated the Punjab National Bank (PNB) of Rs 13,600 crore loan amount. Mumbai's leading hawala operator Mohammad Farooq was also not far behind, a charge sheet filed by the Enforcement Directorate has revealed.


Reuters
July 6, 2018
U.S. tariffs on $34 billion in Chinese imports took effect as a deadline passed on Friday, and with Beijing having vowed to respond immediately in kind, the world's two biggest economies took a high-stakes turn towards all-out trade conflict.


Nevin John
New Delhi, July 5, 2018
Mukesh Ambani's speech lacked usual big project announcements and investment plans. He can't be blamed for it as the company is concluding its Rs 4-lakh crore capital expenditure cycle, which includes Rs 2.5-lakh crore for creating digital business and Rs 1.5-lakh crore for petrochemical and refining projects.


BusinessToday.In
New Delhi, July 5, 2018
The OPEC nations that comprised 15-member countries and Non-OPECnations, led by Russia, have been withholding oil production to boost the prices. The US plan to reintroduce oil exporting sanctions against Iran from November has also given rise to crude oil prices.


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