COST Financial News

India and Bangladesh commencing cross-border trade settlement in Indian rupee (INR) would promote two-way commerce by reducing transaction cost, an industry official said on Sunday. CII national committee on EXIM Sanjay Budhia said that since all exports and imports and settlement of trade transactions under this arrangement may be denominated and invoiced in INR, this would also reduce dependence on the US Dollar and would address situations like scarcity of forex reserves apart from strengthening regional currency and trade.

DMart has no plans to enter wholesale retailing as of now, but we are very clear that we are a first grocery format and will work harder to add more stores to grow faster, says Neville Noronha, CEO of Avenue Supermarts which owns the DMart retail chain and has been lately grappling with slower growth rates. Retailers have also been recently rushing in to open value-format stores which have impacted DMart’s apparel and general merchandise segment. Interestingly, retailers are opening shops close to DMart stores to take advantage of the huge footfalls that the discount format attracts.

Central Consumer Protection Authority (CCPA) on service charge continues. The recent Delhi High Court order has been 'incorrectly understood', restaurant associations and restaurateurs told ET.

Investment in Australia’s film and television sector has more than doubled in five years, with revenues across the industry rising to $4.6 billion in the year to the end of June 2022.

When battery-grade lithium prices descended into a bloodbath on the new Guangzhou Futures Exchange last month, it sent ripples through the Australian bourse, tearing chunks off the share prices of lithium miners and explorers.

FRANKFURT (Reuters) -Daimler Truck's Chief Financial Officer Jochen Goetz has died in a «tragic accident,» the company said on Sunday.

MUMBAI : Private equity (PE) and venture capital (VC) funds are slashing the management fees they charge investors to enhance returns, cut investing costs, and attract funds, according to portfolio managers and limited partners. The emergence of multi-fund platforms led several PE and VC firms to move away from the traditional ‘2-20 model’, or 2% management fee and 20% carry, where the fund retains a part of the investment profit upon realization. To be sure, this new trend is seen in firms raising multiple funds with large corpus and smaller ones that are into their subsequent fund cycles.

real estate sector spanning 2014 to 2021. Earlier, the company had moved the Bombay High Court, seeking a stay on the investigation and urging it to direct Sebi to reconsider its settlement application. However, the Bombay high court dismissed the petition and ordered the company to bear the cost of Rs2.5 lakh for filing an appeal.

HZL) won't borrow to keep paying dividends and its financial heft hasn't been undermined by a series of generous payouts over the past one year or so, the company's chief executive Arun Misra said. The government is keeping an eye on HZL's dividends, a senior official had told ET last month, adding it would raise a red flag when it feels the company is using its borrowing proceeds to extend dividend to parent Vedanta and other shareholders. In an interview to ET, Misra also made it clear that HZL doesn't intend to revive its now-lapsed January proposal to buy parent Vedanta's global zinc business.

Maruti 800 king of the Indian road, the latest available data show companies are launching a disproportionate number of autos and other products at the higher end, reflective of a K-shaped recovery following the pandemic, said market researchers and senior industry executives. That’s narrowing choices at the lower end, where demand has been languishing in the past few years, they said. The number of car models available in the sub Rs 10 lakh category more than halved to 27 in the June quarter from 57 in FY19, according to data available with manufacturers. Models priced over Rs 10 lakh almost doubled to 50. Of the half a dozen or so passenger vehicles unveiled this fiscal year, only the Maruti Suzuki Fronx and the Hyundai Exter have variants priced below Rs 10 lakh. The Maruti Suzuki Jimny and the new Kia Seltos as well as the forthcoming Citroen C3 Aircross and the Honda Elevate are all tagged upward of Rs 10 lakh. In consumer durables, of the 170 televisions launched in the current calendar year, 100 were in the premium 50-inch-plus display size. According to electronics industry market researcher GfK India, the share of such premium televisions in total sales has grown almost four times since 2019 in the first six months of this year. GfK India data show the number of laptops priced above Rs 50,000 stood at 69% of the total models launched in the January-June period compared with 47% in the same period of 2019.

OTT platforms controlling budgets, smaller streaming services that focus on specific regional languages or a certain genre may be at an advantage thanks to their smaller scale. Platforms like aha video, Planet Marathi, OM TV and others say they haven’t had to cut budgets since they started cautiously and have benefited from catering to region-specific audiences. Their hyperlocal content and slow start have given them time to evaluate the market and they believe catering to a specific niche has its own advantages.

₹17,000 crore for setting up units to make laptops, tablets and other IT hardware. Some say the move to licence imports is an attempt to get more companies to sign up for the revised PLI scheme which is open till the month-end.

The body of a women and a child were recovered by Italian coastguard after two migrant shipwrecks off the southern Italian island of Lampedusa. Around 57 people were rescued, and more than 30 are believed to be missing at sea as of Sunday following two migrant shipwrecks off the southern Italian island of Lampedusa, the coastguard said Sunday.

₹24,470 crore. The railways has set an internal target of one-and-a-half years to two years to complete the projects. Speaking through videoconference, the prime minister said that the redevelopment project will represent a huge boost for infrastructure development in the country.

GoI the benefit of the doubt. While upholding the letter of multilateral and bilateral agreements, the plan was, we argued, to push vendors to switch to China Plus One options quickly. Now, with the follow-up announcement that FTA partners like Japan and South Korea will not be spared, the whole import licensing issue shows up India in poor light, especially to its trading partners.

Portland in south-west England has become a battleground of emotions and opinions as the UK government's plan to house 500 asylum seekers on a large barge in its harbour faces intense opposition from local residents. Perched atop the town, the imposing 93-meter-long Bibby Stockholm stands as a symbolic embodiment of the contentious proposal. With its 222 cabins, the barge is slated to accommodate up to 500 asylum seekers in the coming months. However, the plan hit a snag as the first arrivals, scheduled for Tuesday, were thwarted by a last-minute hitch. The concept of relocating asylum seekers to docked barges is not merely about cost-saving; it also aims to serve as a deterrent for illegal crossings.

Madhya Pradesh Chief Minister Shivraj Singh Chouhan on Sunday said the previous Congress government neglected the development of railway infrastructure in the state by allotting meagre funds for it. The rail, road and air networks have grown by leaps and bounds under the leadership of Prime Minister Narendra Modi in the country, he said. Chouhan was addressing a function at Vidisha station in Madhya Pradesh.

I want to gift my wife stocks worth ₹4 lakh. Who will bear the capital gains tax in that case? —Akash Jain Any gift of shares to a specified relative does not attract tax in the hands of recipient. As spouse of an individual falls under the defined ‘relative’, there will not be any tax implications in your wife’s hands on account of receipt of shares as gift from you.

Why ODR? SCORES, which is largely used by investors seeking redressal of complaints against stock brokers, is a comprehensive redressal system, which allows investors to escalate their complaint (see graphic) in a time-bound manner. In the final stage, the complaint is reviewed directly by Sebi and an investor who is not satisfied by Sebi’s review can now opt for ODR. Earlier, the IGRC resolved disputes between stock brokers, depository participants, commodity brokers and their clients.

Narendra Modi laid the foundation stone for the redevelopment of 508 railway stations across the country at a cost of ₹24,470 crore under Amrit Bharat Station Scheme. The LG expressed gratitude to the Prime Minister for including three stations of J&K Union Territory (UT)-- Jammu Tawi, Udhampur and Budgam--under the Amrit Bharat Station Scheme. Sinha said the redevelopment of railway stations in the J&K Union Territory will give huge boost to connectivity and ease of travel for passengers.

Despite controlling much of the shootout, misses from Megan Rapinoe, Sophia Smith, and Kelly O'Hara proved costly. Sweden's Lina Hurtig converted the decisive spot-kick, securing a 5-4 shootout victory and a ticket to the quarterfinals. The match marked the end of an era as Rapinoe bid farewell to her illustrious international career. The Golden Boot winner of the 2019 World Cup had taken on a smaller role in her final tournament.