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BusinessToday.In
New Delhi, July 18, 2018
While the first half was encouraging, it is the second half with upcoming movies like Thugs of Hindostan, Zero and Kedarnath that must be watched out for.


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.


PTI
July 17, 2018
Sentiment got a boost after global crude oil prices dropped by over 4 per cent yesterday owing to oversupply fears, helping the rupee to strengthen against the dollar, brokers said.


BusinessToday.In
New Delhi, July 17, 2018
On the simplification of the GST law, the ICAI said it should be made less complex so everyone -- from a layman or an unorganised taxpayer to big businesses -- can understand it without any help from a tax expert.


BusinessToday.In
July 16, 2018
At present, the time of the day has no bearing on the landing fees paid by airlines - it is based on the weight of an aircraft.


PTI
July 14, 2018
The banks are among the first major companies to report results in what is expected to be a strong second-quarter earnings season thanks to US tax cuts and a humming American economy.


Goutam Das
New Delhi, July 9, 2018
Indian real estate, especially the residential segment, is battered. Homebuyers have been taken for a ride by builders who couldn't complete projects. This led to a trust deficit, and the subsequent enforcement of the Real Estate Regulation and Development Act (RERA), which is now forcing builders to change their operating models. Rajeev Talwar, CEO, DLF Ltd., and Chairman of the National Real Estate Development Council (NAREDCO), tells Business Today's Goutam Das about the changing landscape, why it is time to create excess supply in affordable housing, and how to go about it. Edited excepts:


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


Dipak Mondal
New Delhi, July 9, 2018
The GST bandwagon has had a choppy ride in the first year but is gaining momentum. Further fine-tuning of the GST law holds key to future success


BusinessToday.in
New Delhi, July 6, 2018
The Sensex rebounded over 83 points to close at 35,657 in volatile trade, led by gains in auto, realty, capital goods and energy stocks. Markets benefited from bargain-hunting in recently battered stocks amid mixed global cues, brokers said. Asian markets ended higher even as investors monitored developments on the trade front in the aftermath of tit-for-tat tariffs by the US and China.The 30-share Sensex, after a negative opening, slipped to the day's low of 35,532, but staged a strong comeback in the later part of the session to hit a high of 35,799. It finally finished 83.31 points, or 0.23 per cent higher at 35,657.The NSE Nifty, after shuttling between 10,735 and 10,816, ended at 10,772, up 22 points, or 0.21 per cent.Both the Sensex and Nifty posted weekly gains, rising 234 points, or 0.66 per cent, and 58 points, or 0.54 per cent, respectively.Top Sensex gainers were Hero MotoCorp, Tata Motors and Bajaj Auto.Sun Pharma, NTPC and HDFC were the top losers on the Sensex.Market breadth was positive with 1451 stocks closing higher against 1188 ending lower on BSE.Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 159.37 crore on net basis, while domestic institutional investors (DIIs) also sold equities to the tune of Rs 296.97 crore on Thursday, provisional data showed.


BusinessToday.in
New Delhi, July 6, 2018
Sameet Chavan, Chief Analyst, Technicals and Derivatives, Angel Broking, takes viewers through all the market action today. The Sensex rebounded over 83 points to close at 35,657 in volatile trade, led by gains in auto, realty, capital goods and energy stocks. Markets benefited from bargain-hunting in recently battered stocks amid mixed global cues, brokers said. Asian markets ended higher even as investors monitored developments on the trade front in the aftermath of tit-for-tat tariffs by the US and China.


BusinessToday.In
New Delhi, July 6, 2018
ED initiates extradition process against Nirav Modi under MLATWith the permission of special PMLA Court, the Enforcement Directorate (ED) has begun the extradition process against diamantaire Nirav Modi in $2-billion PNB loan fraud case under PMLA. Till now, the extradition has been sought from UK, Belgium and a few other countries. But that's not all. The agency is also working on another strategy, i.e. MLAT. Sources told Indiatoday.in that the agency is also making a request for extradition of Nirav Modi under Mutual Legal Assistance Treaty (MLAT). MLATs are agreements between two or more countries, which create obligations under international law for governments to assist one another in criminal investigations and prosecutions. Mukesh Ambani unveils JioGigaFiber at RIL AGM 2018The richest man in the country who runs India's largest private enterprise by revenue has announced his ambitious plan for taking India among Top 5 nations in fixed-line broadband.Ambani also launched the advanced version of Jio's flagship device, JioPhone. Besides, he also launched Jio Gigafibre. The new Jio Phone 2 will hit the markets by August 16 this year and will be available at a price of Rs. 2999. Mukesh Ambani has also announced the Jio Monsoon offer, he informed that old JioPhone users can exchange their phones in just Rs 501 under the special Reliance Jio Monsoon offer. The offer is valid till July 21. He also informed that Reliance Jio and Retail ventures were the top earners for the company in the previous fiscal year. Kishore Biyani's Future Lifestyle Fashions acquires stake in fashion etailer KoovsIn a regulatory filing yesterday, Biyani-led Future Lifestyle Fashions Ltd (FLFL) disclosed that it has reached a conditional agreement with leading e-commerce fashion business Koovs to acquire up to 29.9 per cent stake in it, subject to regulatory and procedural approvals. According to Mint, FLFL will shell out Rs 140 crore for this acquisition, which will be funded through internal accruals and the money it had raised though a stake sale to Singapore-based private equity firm L Catterton Asia in May. E-tailers exploring ways to improve reverse logistics costs: Study  E-tailers are increasingly looking for ways to improve their \"reverse logistics\" capabilities to offset the high costs associated with handling returned goods, a study by Zebra Technologies said today. Reverse logistics refers to the process of return of a product to the manufacturer or the company. The study said that while handling product returns is not a new challenge, it has become an \"infinitely bigger concern\" in an omni-channel marketplace.The report said merchants are increasingly exploring new models to offset the costs of returns.About 58 per cent of retail respondents said they add a surcharge for returns currently, while a segment of participants said they plan to do so in the future.About 35 per cent of the respondents of the study in the Asia-Pacific region were from IndiaIran to Trump: oil will cost $100 per barrel, and it is your faultOil will soon cost $100 per barrel due to supply disruptions caused by U.S. President Donald Trump, Iran's OPEC Governor told Reuters on Thursday, as he warned expectations that Saudi Arabia and Russia would help bring down prices were in vain.Trump again accused the Organization of the Petroleum Exporting Countries of driving fuel prices higher on Wednesday, and urged U.S. allies such as Saudi Arabia to pump more if they wanted Washington to continue protecting them against their top foe Iran. Iran, OPEC's third-largest producer, is facing U.S. sanctions on its oil exports that are prompting some buyers to cut purchases.Indian Aviation Records Double Digit Passenger Growth For Nearly Fourth Straight YearIndia registered double-digit domestic air passenger growth for the forty fifth straight month in May even as volumes moderated in recent months. The International Air Transport Association said that the country's revenue passenger kilometre--a measure of passenger volumes--rose 16.6 percent in May. Seasonally-adjusted passenger volume in India has fallen back in recent months alongside some mixed signs on the economic front, it said. IATA said that this year growth is expected to slow slightly due to reduced stimulus from lower airfares and a mixed economic backdrop.


BusinessToday.in
New Delhi, July 5, 2018
Arun Jaitley calls for amendments in graft law, says it's anarchic and hurts decision makingUnion Minister Arun Jaitley on Tuesday called for amendments in the Prevention of Corruption Act -- a graft law that the Minister described as anarchic and one of the most badly drafted pieces of legislations. His statement came weeks after the Pune police on June 21 arrested the entire top management of the state-run Bank of Maharashtra for a loan of Rs 94.5 crore to the scam-tainted developer DSK Group allegedly in violation of its lending rules. Coming down heavily on the Pune Police for the arrest, the Minister said that nobody should overlook the federal structure of the nation. Jaitley further said that if the country wants an effective decision making process, it needs to put this entire relationship between investigation, who to investigate, when to investigate, what constitutes a crime, really in its place.NCLT verdict in Tata-Mistry case to be pronounced on July 9The Mumbai bench of NCLT (National Company Law Tribunal) on Wednesday deferred its judgement on ousted Tata Sons chairman Cyrus Mistry's petitions against the Tata Group. The NCLT order in the Tata-Mistry case will now be pronounced on July 9 at 10:30 am. Ahead of the verdict, Mistry had filed fresh salvo at Tata Sons management. The former chairman questioned the rationale behind some actions like the free sale of its telecom arm to Airtel, and massive debt-driven acquisitions by Tata Steel. Mistry has sought accountability and information from the board of Tata Sons in which his family owns 18.34 per cent.MSP hike draws mixed reaction from agri-experts, farm bodies  Agri experts and farm bodies today said the hike in the minimum support price (MSP) of 2018-19 kharif crops would lead to inflation, widen fiscal deficit and hit badly the export of commodities like cotton, while others felt the raise in support price was insufficient. In absolute numbers, the paddy MSP hike by Rs 200/quintal to Rs 1,750 for this year is a record but not in percentage terms, said agriculture expert Ashok Gulati . Gulati cautioned that the sharp rise in cotton and rice MSP will hit exports badly and lead to increase in government procurement. Merkel warns Trump against trade war  German Chancellor Angela Merkel today warned US President Donald Trump against unleashing an all-out trade war after he threatened to impose steep tariffs on cars from the European Union. Merkel said both sides were effectively locked in a \"trade conflict\" since Trump's decision to slap punitive tariffs on steel and aluminium imports. \"It is worthwhile to prevent this conflict from becoming a real war,\" she said. Trump charged that Europe is \"possibly as bad as China\" on trade, as he reiterated that he is mulling import taxes of 20 percent on EU cars. The EU has slapped tariffs on iconic US products including bourbon, jeans and Harley-Davidson motorcycles, as a symbolic tit-for-tat response to the metals duties.FM to meet heads of banks today to discuss NPA resolution structure  Finance Minister Piyush Goyal will meet heads of banks today to discuss an inter-lender structure suggested under the 'Project Sashakat' that intends to fastrack resolution of stressed assets in the banking system. The meeting is likely to formalise the inter-creditor agreement structure as suggested in the five-pronged 'Project Sashakat', sources said. The meeting has been organised by Indian Banks Association (IBA) and inter creditor agreement would be the framework under which the consortium would take up NPA cases.SBI Card launches AI powered virtual assistant ELA  SBI Card, the country's second largest credit card issuer, today announced the launch of 'ELA' (Electronic Live Assistant), a virtual assistant for customer support and services. Driven by Artificial Intelligence and Machine Learning, ELA is designed to enhance customer experience by providing relevant and instant responses to customer queries, SBI Card said. Customers can communicate with ELA in conversational language, enabling easy interface along with prompt query resolution, SBI Card managing director Hardayal Prasad said. The virtual assistant is currently hosted on the SBI Card website and will soon be integrated on the mobile app as well.


BusinessToday.In
July 3, 2018
India imported 771,000 barrels of crude oil a day from Iran in May, a 35 per cent increase from the previous month.


Nidhi Singal
New Delhi, June 27, 2018
Honor 10 is a notable addition to the list of flagship killer devices. The latest from Honor also boasts a solid pedigree. But does it live up to the expectations?


BusinessToday.In
New Delhi, June 26, 2018
Ruchit Jain, Technical Analyst, Angel Broking, takes the viewers through all the market action today. The Sensex and Nifty closed marginally higher today hit by volatility amid mixed sentiments in global markets.


BusinessToday.In
June 26, 2018
The Sensex and Nifty closed marginally higher today hit by volatility amid mixed sentiments in global markets. While the Sensex closed 19.69 points higher at 35,490 level, the Nifty rose 6.70 points to 10,769 level. Coal India, Maruti and TCS were the top Sensex gainers. Tata Motors was the top Sensex loser for the second consecutive day. Other losers were Reliance Industries and Power Grid. Avanti Feeds was the top gainer on BSE today after the firm implemented stock split and bonus issue. It closed 16.69% or 86 points higher at 608.00 on the BSE.Market breadth was negative with 1786 stocks closing lower against 850 ending in the green. Meanwhile, the Indian rupee closed 12 paise lower at 68.24, the lowest closing level against the dollar since June 19.Global markets were mixed as traders monitored US efforts to gain an upper hand in trade with China, particularly in the technology sector. Shanghai's index entered bear market territory, having dropped over 20 percent from a recent high in January.


BusinessToday.In
June 20, 2018
Small cap and midcap indices on the BSE rose 0.27% and 0.23%, respectively. The revival was led by banking stocks with the BSE Bankex rising 1.04% or 306 points to 29,709 level. Bank Nifty too rose 292 points to 26,557 level.


Rajeev Dubey
New Delhi, June 20, 2018
Announced in the 2018 Budget, the AB-NHPM was touted as the 'world's largest government funded health care programme'. While it might take a while, with participation at both the Centre and state levels, and a cover for 10.74 crore families, the scheme is set to meet expectations eventually.


BusinessToday.In
New Delhi, June 16, 2018
The movie raked in Rs 29.17 crore on its opening day, pipping Baaghi 2, Padmavat, Veere Di Wedding and PadMan to become the biggest Bollywood opener of 2018.


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