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Touted among the most spirited and colourful countries around the world, the Republic of Korea, or South Korea, effortlessly fuses its unique culture, immersive experiences, and innovative technology with great balance.

For non-resident Indians (NRIs), managing real estate in India can be a maze of unexpected challenges and hidden tax complexities. Imagine selling your property in India, only to realise that a hefty 20% tax is deducted at source, and the key to reducing this tax burden lies in past tax returns, you never knew you were required to file. 

Tax season might seem complex! In India, you aren’t required to file a return if your income is below the basic exemption limit, which varies based on your age and chosen tax regime.

The Biden administration announced new steps to increase access to affordable housing

California lawmakers have abandoned their attempt to repeal the nation's only law requiring voter approval for publicly funded affordable housing projects

Zyod has raised $18 million in a mix of equity and debt funding. The funding was led by venture firm RTP Global, while the debt capital was raised from Stride Ventures, Trifecta Capital and Alteria Capital. The “majority” of the funding was in primary equity, cofounder Ankit Jaipuria told ET. Existing investors Lightspeed Venture also participated in the funding round.

Mint looks at how trade between the two Asian giants has evolved and why it is proving to be so difficult for India to decouple itself from its neighbour. In FY24, bilateral trade grew 4% to $118.4 billion from $113.8 billion in FY23. India-US trade in the same period declined by 8.6% to $118.3 billion.

According to ETFGI's monthly report, active ETFs gathered net inflows of $27.5bn in May alone, bringing the total value since January to $125.1bn globally. Debunking the passive myth: active engagement in ETFs At the end of May, there were 2,612 active ETFs with a total of 3,246 listings globally and $889bn worth of assets. In addition, there were 449 providers listed on 37 exchanges in 29 countries. Net inflows for active equity-focused ETFs reached $16.3bn in May, bringing the year-to-date total to $74.3bn, surpassing the $41bn reached in 2023 overall. Meanwhile, actively mana...

Mamata Banerjee on Monday wrote to Prime Minister Narendra Modi, expressing «strong reservation» over the Centre excluding the state government from discussions with Bangladesh regarding Teesta water sharing and the Farakka Treaty. Banerjee also urged the PM to not hold any such discussion with the neighbouring country without involving the West Bengal government. «I am writing this letter in context of the recent visit of Prime Minister of Bangladesh. It seems that water sharing issues relating to the Ganges and Teesta rivers may have been discussed during the meeting. Such unilateral deliberations and discussions without consultation and the opinion of the state government is neither acceptable nor desirable,» she said in a three-page letter to Modi. Bengal has a very close relationship with Bangladesh — geographically, culturally and economically, she noted.

Yogi Adityanath on Monday said there is a need for changes in building byelaws in the state. While talking about the development of the hotel industry at a meeting with senior officials of the housing department, Adityanath said it is the result of efforts to encourage the tourism potential that today the state has emerged as the first choice of tourists. The maximum number of tourists from the country come to Uttar Pradesh. Such positive circumstances have given rise to immense possibilities for the hotel industry, the chief minister said according to a statement issued here. «To encourage the hotel industry, we need to make changes in our building byelaws,» he added.

India is set to host the International Sugar Organization (ISO) Council Meeting from June 25-27, in the national capital, bringing together delegates from over 30 countries to discuss critical issues in the sugar and biofuel sectors. As the world's largest consumer and second-largest producer of sugar, India has been nominated to chair the ISO for 2024, an official statement said. The event kicked off with an industrial tour to a grain-based distillery in Muzaffarnagar, Uttar Pradesh, on June 24, demonstrating India's adoption of cutting-edge technology in biofuel production. The main proceedings begin on June 25 with a workshop titled «Sugar and Biofuels — Emerging Vistas» at Bharat Mandapam, to be inaugurated by Union Minister for Food as well as New & Renewable Energy Pralhad Joshi.

gold reserves parked overseas dropped to the lowest in six years at the end of March--47% of the total—since it started accumulating the precious metal in December 2017. Data show that the RBI started bringing the gold to India in March 2022, coinciding with the start of the Russia-Ukraine war. This is in line with the trend of central banks globally that have turned cautious after the US government froze Russian foreign currency assets as the conflict began in February 2022. News that the RBI had brought back 100 tonnes of gold from the UK to India emerged at the end of last month. Governor Shaktikanta Das said this was because there is enough domestic storage capacity and nothing more should be read into it. At the end of March, the RBI’s total gold holdings amounted to 822.1 tons. A December 2023 survey by global investment manager Invesco of 57 central banks and other asset managers showed that they had increased exposure to gold 8-10 years ago, keeping it London and using it for swaps and to enhance yields, but that they were now moving the reserves back to their own countries, underscoring its role as a safe-haven asset. From 50% in 2020, the share of gold reserves held in their own countries is estimated to have gone up to 68% by December 2023 and will likely rise to 74% within the next five years, according to the survey.

trade deficit, the Reserve Bank of India said on Monday. Foreign portfolio investment saw a net inflow of $44.1 billion in FY24 after recording an outflow of $5.2 billion in FY23. Meanwhile, net FDI inflow reduced to $9.8 billion in FY24, down from $28 billion seen in FY23. India's foreign exchange reserves saw an accretion of $63.7 billion in FY24 on a Balance of Payment basis, the RBI said in its statement.

commerce ministry's investigation arm DGTR has recommended the continuation of countervailing or anti-subsidy duty on welded stainless steel pipes and tubes from China and Vietnam to guard domestic players. In a notification, the Directorate General of Trade Remedies (DGTR) has said that there is a likelihood of injury to the domestic industry in the event of cessation of present countervailing duty on the imports from these two nations. «The authority has reached a conclusion that the duty imposed on subject goods is required to be extended further...The authority recommends extension of countervailing duties on imports of the product under consideration,» the DGTR has said. The directorate has recommended a duty of up to 29.88 per cent on the product.

The legendary Blockchain Life 2024 will return for its 13th edition on October 22-23. As Dubai gains a reputation as a global crypto hub, the forum is set to be the central event of this year.

OYO on Monday announced the opening of its first luxury hotel in Dubai — Palette Royal Reflections Hotel and Spa — as the IPO-bound unicorn eyes strengthening its premium property portfolio globally. The company expects the number of Indian tourists to grow significantly in 2024 after Dubai relaxed visa policy for them earlier this year. «OYO is expecting more than 1 lakh Indian tourists to visit Dubai this year. Dubai has long been a favourite destination for Indian travellers, thanks to its luxury shopping, stunning architecture, and vibrant culture. The launch comes as the emirate prepares to welcome a record number of Indian tourists in 2024,» OYO stated. The initiative is part of OYO's ongoing efforts to strengthen its premium property footprints across the world, including the Middle East.

Adani group capitalize on upcoming opportunities, especially with its expertise in executing complex, large-scale projects, chairman Gautam Adani said. The core infrastructure group which has businesses ranging across ports, green energy, cement, airports, power and transmission will be setting up the largest energy installation, redeveloping the largest slum and making the largest single location copper smelter of the world in the country over the next few years.

India's Adani Group is «well positioned» to capitalize on opportunities in the country's booming infrastructure sector as spending is expected to surge, Chairman Gautam Adani told investors on Monday. The group, which has businesses across ports, power utilities, transmission and coal trading, is betting on India's infrastructure spending that is expected to grow at a compounded annual growth rate of 20%-25%, Adani said.

Modi’s vast domestic agenda is in jeopardy after his party failed to win an outright majority in parliament for the first time in a decade, forcing it to work with a coalition of parties and grapple with an expanded opposition bench. Over the past decade that Modi’s Bharatiya Janata Party has ruled with absolute majorities, its advocated for — and pushed through — laws that critics say have furthered its majoritarian goals. Some of the outstanding policies on that agenda may now need to be reviewed or jettisoned after the electoral setback. Signs of acrimony between the BJP-led government and the opposition were visible Monday at the start of the first parliamentary session since election results earlier this month. A united opposition — which won about 230 of the 543 seats in the lower house, the Lok Sabha — are opposing the BJP’s selection of a temporary speaker of parliament and are protesting against a brewing scandal over college entrance exams.

Jaishankar has reviewed with his United Arab Emirates counterpart Abdullah bin Zayed Al Nahyan the multi-faceted India-UAE comprehensive strategic partnership and discussed new areas with «untapped potential» to enhance collaboration, an official statement said on Monday. Jaishankar, who was in the UAE on Sunday, also exchanged views with Al Nahyan on regional and global issues. He visited the iconic BAPS Hindu Mandir in Abu Dhabi and participated in the 10th International Yoga Day celebrations before meeting Al Nahyan.

Pranav Chawda, head of commercial banking for India, will expand his current responsibilities to become the head of India Corporate Banking and can confirm that PD Singh is leaving the firm, a JPMorgan representative said by email in response to queries from Bloomberg News.