Department Financial News

By Karen Freifeld

Nope. No way. Nah.

By Hadeel Al Sayegh, John O'Donnell, Elizabeth Howcroft

The four departing portfolio managers, who are part of the firm's 12-member global growth team, are Robert Hofmann, Marcus Morris-Eyton, Darina Valkova and Nicolas Goncalves. In light of the exits, Allianz GI has appointed Christian Schneider, current deputy global growth CIO and lead portfolio manager of the firm's flagship Global Equity Unconstrained strategy, to lead the team with immediate effect.  The asset manager will also replace some of the departed managers with two portfolio managers, Julian Bishop and James Ashworth, who both joined in November 2022. The firm said it will ...

Kerala and caused a flood-like situation in various areas across the state. The rainwater entered hundreds of homes in Thiruvananthapuram. Heavy showers also resulted in landslides in some areas.

Qantas chief executive Vanessa Hudson’s task of rebuilding the airline’s battered reputation has become even more complex, after head of loyalty and the steward of the Frequent Flyer business, Olivia Wirth, resigned.

Telstra shareholders will press new director Maxine Brenner to explain how she handled corporate governance issues while on Qantas’ board as she stands for election at the telecommunications group’s annual general meeting on Tuesday.

BEIJING — An ambassador of an African country to China has criticized the International Monetary Fund and the World Bank for restrictive lending policies.

HT. Experts suggest that an early withdrawal of the southwest monsoon resulted in early harvest this year has advanced the dates of stubble burning as well. While Haryana has experienced nearly three times the number of farm fires, increasing from 168 instances last year to 542 this year, Punjab has seen only a marginal increase, with 1,388 farm fires this year compared to 1,238 last year.

Michael Ahearne, chief executive of SkyCity Entertainment, will depart the company in March as the Adelaide casino owner braces for a potential multimillion-dollar fine and the loss of its New Zealand licence.

Central Board of Direct Taxes (CBDT) has clarified to the field formations that assessing officers will not pick up cases for scrutiny for startups registered with the Department for Promotion of Industry and Internal Trades (DPIIT) if the cases are related to the valuation of angel tax. This means startups registered by the DPIIT Start-ups will not face tax verification on account of angel taxation in case they are picked up for scrutiny. There are 99,380 startups recognised by the DPIIT. Besides, in cases where proceedings are auto generated, «contentions of such recognised startup companies on the issues will be summarily accepted». However they may be subject to verification for other taxation issues. The clarification came after a large number of startups received notices related to angel tax valuation during April and May, including those registered with the DPIIT. DPPIT-recognised startups are exempted from section 56 (2) (viib) of the IT Act, which determines angel tax.

₹50 crore of unidentified cash in IT raids has become the centre of a political row erupted between Congress and BJP in Karnataka. Soon after IT raids recovery on Sunday, BJP state president Nalin Kumar Kateeel claimed links between ruling Congress and the recovered money. Soon after his allegations, Chief Minister Siddaramaiah denied the claims and called them baseless.

Hindustan Times said. The EMRI-GHS is responsible for running Jharkhand’s special 108 free ambulance service. “We have sought an explanation from EMRI-GHS regarding the inordinate delays and, in some cases, the non-arrival of ambulances.

Centre is aiming at raising ₹400 crore from scrap disposal across government offices, free up 100 lakh square feet space in sarkari offices and clean up 2.26 lakh sites under #SpecialCampiagn3 launched on September 29. The two-week-old mission has already raised ₹117.3 crore from scrap disposal and freed up 32.54 lakh square feet space. 1.47 lakh sites have had a clean-up too, as per latest data. Steered by the Department of Administrative Reforms & Public Grievances (DARPG), the Campaign focuses on effective disposal of public grievances, references from Members of Parliament, Parliament assurances besides, weeding out files, cleanliness drive in the workplace and disposal of scrap from government offices. While all ministries and departments are actively pursuing set targets, under specific focus this time are the establishments under the Ministry of Home Affairs, Ministry of Defence, Department of Heavy Industries, Ministry of Coal, Mines and Steel and the various PSUs.

Glacial Lake Outburst Flood (Glof) warning sensor systems in Sikkim, the Centre is set to review the existing Glof scenario and formulate a full-fledged early warning system (EWS) for Himalayan states prone to such hazards. ET gathers that a high-level meeting has been called this week in New Delhi to look at developing a robust and advanced EWS for all the high-risk states and areas. The meeting will look at four key aspects. First, identification of all Glof-prone lakes in Sikkim, Himachal Pradesh, Uttarakhand, Arunachal Pradesh, Ladakh and Jammu & Kashmir.

State Antony Blinken said Sunday the Rafah border crossing between Gaza and Egypt «will be open» for aid into the blockaded strip, he said while departing from Cairo. «We're putting in place with the United Nations, with Egypt, with Israel, with others, the mechanism by which to get the assistance and to get it to people who need it,» he told reporters. Blinken also said that the United States had appointed an envoy, veteran former diplomat David Satterfield, to work on aid to Gaza.

Air India Express spokesperson, the incident occurred when a passenger on board the Dubai-Amritsar flight experienced a severe medical complication during the journey. «A guest on board our Dubai-Amritsar flight had a sudden medical complication inflight, and the crew opted to divert to Karachi, given that it was the closest location to provide immediate medical assistance,» said the spokesperson.

NEW DELHI : Mauritius-based offshore funds facing ambiguity over capital gains tax have received a shot in the arm at last following a verdict of the Mumbai bench of the Income Tax Appellate Tribunal (ITAT). In a case about the foreign direct investment of Indium IV Holdings (Mauritius), the tribunal has allowed the fund to carry forward long term capital loss (LTCL) while simultaneously allowing the fund to claim treaty benefit for short term capital gains (STCG).

ALSO READ: 'Ek match se kaptaani nahi mili hai..': Babar Azam shuts down 'captaincy' question before India Pakistan clash Miffed at Pakistan's no-show against Pakistan, Ramiz explained how the heavy defeat would impact the World Cup campaign of the team. "This should hurt Pakistan because they weren't able to compete. When you're playing against India it's such an environment where it's 99 percent of India fans and crowds, you're overwhelmed.

₹11,520 crore and 120 properties in the top seven cities including Mumbai, Pune, and Chennai. The Department of Investment and Public Asset Management (DIPAM) said, in response to the pre-bid queries from prospective asset valuers of IDBI Bank, that the bank has as many as 68 properties in Mumbai, 20 in Pune, nine in Chennai and seven in Ahmedabad. Besides, it has six properties in Kolkata and five each in Delhi and Hyderabad.

IDBI Bank that the lender has deferred tax assets of Rs 11,520 crore and 120 properties in the top seven cities including Mumbai, Pune, and Chennai. In response to the pre-bid queries from prospective asset valuers of IDBI Bank, the Department of Investment and Public Asset Management (DIPAM) said the bank has as many as 68 properties in Mumbai, 20 in Pune, nine in Chennai and seven in Ahmedabad. Besides, it has six properties in Kolkata and five each in Delhi and Hyderabad. “The intangible on the balance sheet of IDBI Bank primarily comprises deferred tax assets of around Rs 11,520 crore,” DIPAM said. Deferred tax asset commonly refers to overpayment of tax by an entity.