Price Waterhouse Chartered Accountants LLP (PwCA), the statutory auditors of beleaguered Hyderabad-based infrastructure player GVK Power & Infrastructure Ltd (GVKPIL), have communicated their intention to resign as auditors citing the failure of the company and its management to submit the requisite information to them for preparing the audit for financial year 2019-20.
Finance minister Nirmala Sitharaman on Friday exhorted large central public sector enterprises (CPSEs) to achieve by next month 50% of their planned capital expenditure target for FY21 to support economic growth. She held a virtual meeting with secretaries of the ministries of shipping, road transport and highways, housing and urban affairs, defence and telecom.
US tech giant Amazon launched its first Indian online pharmacy service on Friday as it attempts to grab more of the country's burgeoning e-commerce market. Amazon is battling Walmart-backed Flipkart and JioMart, owned by Asia's richest man Mukesh Ambani, as well as local companies in the vast market of 1.3 billion people.
The country's foreign exchange reserves swelled by $3.623 billion to a record high of $538.191 billion in the week ended August 7, RBI data showed on Friday. In the previous week ended July 31, the reserves had increased by $11.938 billion to reach $534.568 billion.
Taxpayers become eligible for refunds if higher taxes -- either through advance tax, self-assessment tax or tax deducted at source (TDS) -- are paid in comparison with the total tax liability. The refund can be claimed by filing the income tax returns (ITR) form within the specified timeline.
Oil prices edged lower on Friday on worries that demand would recover more slowly than expected from COVID19 pandemic lockdowns, while rising supply also overshadowed optimism over falling crude and fuel inventories.
The S&P 500 was near flat, hovering below record highs, on Friday as data showed the U.S. economy was still hurting from the COVID19 pandemic, adding to uncertainty over the recovery.
The S&P 500 eased in afternoon trading on Thursday after briefly trading above its record closing high level for a second day, with the Dow also falling in the wake of a disappointing forecast from Cisco Systems Inc .
U.S. hotel demand likely wont see a full recovery until 2023, according to a new forecast from travel data company STR and consultant Tourism Economics.
German container shipping line HapagLloyd nearly doubled net profit in the first half of 2020 and kept its fullyear outlook intact but warned that the coronavirus crisis bears indiscernible risks for its operations.
This money will be compensation for his alleged role in causing the now-bankrupt car-rental company to file inaccurate financial statements in 2013.
The decision was taken at the 584th meeting of the Central Board of the Reserve Bank of India chaired by Governor Shaktikanta Das.
Axis Bank was the top loser in the Sensex pack, falling around 3 per cent, followed by SBI, M&M, Bajaj Finance, ITC, HDFC Bank, HCL Tech and IndusInd Bank.
“If the current wave of local infection can be contained within a short time and barring any further sharp deterioration in the external environment, economic performance for 2020 as a whole can hopefully fall within the upper half of the range forecast,” the government statement said.
At the interbank forex market, the local unit opened at 74.85 against the US dollar, then lost ground and finally settled at 74.90 against the American currency, registering a decline of 6 paise over its previous close of 74.84.
Roca India expects to clock 100% of pre-COVID-19 sales from next month and get on to growth path during the October-December 2020 quarter, said a top
Sterlite Power Ltd., a power transmission company, has sold 14.7% stake in India Grid Trust (IndiGrid) to institutional and HNI investors for ₹840 cro
Who’s in charge of economy, PM or FM, asks Anand Sharma.
The Board reviewed the current economic situation, continued global and domestic challenges and measures taken by the RBI to mitigate the economic impact of COVID-19 pandemic.
During lockdown, the company has onboarded almost 8,000 sellers to its online marketplace, with more than 70% of them coming from smaller towns
Both India and Pakistan need to exercise restraint, but we also need to lay down a threshold which says -- this far and no more, says Colonel (retired) Jaibans Singh
Arun Jaitley's laud-worthy effort... Revealed! The new 'best friends' in politics... Akhilesh Yadav's big dilemma... All this and more in this week's Dilli Gupshup.
Here is an extensive list of enhanced hatchbacks that are impressive from buyers' viewpoint.
Gray Wolves and White Doves by John D. Balian is the "story of a young boy's quest for identity and belonging." We bring you an excerpt.
Two own goals from Stoke City forward Jonathan Walters set Chelsea on their way to a 4-0 Premier League victory on Saturday that gave under-fire interim manager Rafael Benitez some respite.
This week, FIIs have turned net buyers of Indian shares with an inflow of $2.33 billion in this year so far and a robust purchase of 3.61 billion in August alone
Only time will tell who wins the battle between FPIs and retail investors.
Travel and leisure stocks dropped 2.1%, with UK-based airlines and tour operators such as TUI , Easyjet, British Airways-owner IAG falling between 3.5% and 5.5%
MSCI earlier considered a higher foreign ownership limit in the case of Airtel. According to sources, the earlier assumption of foreign ownership stood at 74%, based on the RBI notification, even though this was at odds with the government’s 49% cap.
The company has an order backlog of around 40,000 units. Weighing on the sentiments are continuing restrictions in urban areas, a large addressable market, and local lockdowns which are hampering sales, production ramp-up
The latest public notice was issued by the Directorate General of Civil Aviation on Monday.
MoU will enable Yes bank to work with the BFSI sector on responsible finance, financial inclusion.
During the April-November period, fiscal deficit touched as much as 94 per cent of the budgeted target.
Commerce and Industries Minister Amit Mitra held out a clear cut plan for industrialists at a seminar.
Arvind Mayaram said spurt in demand for food products adding to inflationary pressure.