Information Financial News

No one likes paying tax on investment income. With marginal tax rates as high as 54.8 per cent on interest income for residents of Newfoundland and Labrador, and capital gains tax rates now over 35 per cent in half the provinces for individuals with more than $250,000 of annual gains, maximizing registered plan contributions has never been more important.  

India is the country among major global economies that experienced the fastest growth in intangible investment from 2011 to 2020, according to a recent report. The World Intellectual Property Organisation (WIPO) said in its report that India recorded the fastest growth in intangible investments, exceeding countries like Sweden and the US — the two most intensive economies in terms of intangible investment as a share of GDP.

creamy layer in the reservation for SCs and STs in the Constitution given by B R Ambedkar. The Union Cabinet, at a meeting chaired by Prime Minister Narendra Modi, held a detailed discussion on the Supreme Court judgement on the sub-categorisation of reservation for SCs and STs as granted in the Constitution. «It is the well thought view of the Union Cabinet that the NDA government is firmly committed to the provisions in the Constitution given by Dr Babasaheb Ambedkar,» Information and Broadcasting Minister Ashwini Vaishnaw told reporters here. He said there was a detailed discussion in the Union Cabinet meeting on a recent Supreme Court judgement that made certain suggestions on the reservation for the Scheduled Castes (SC) and Scheduled Tribes (ST).

Ola Electric Mobility on Friday announced that it will be holding its first board meeting after the listing on the exchanges, scheduled for August 14, 2024. “Pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we wish to inform you that a meeting of the Board of Directors of Ola Electric Mobility Limited (“the Company”) is scheduled to be held on Wednesday, August 14, 2024, inter alia, to consider and approve the unaudited standalone and consolidated financial results of the Company for the quarter ended June 30, 2024,” the company said in a filing to the exchanges.

tech world by storm in the US. A number of the top-tier leadership positions or CXOs in these companies are also held by Indians or those of Indian origin. While the spotlight is on the likes of Microsoft chairman and CEO Satya Nadella and Alphabet CEO Sundar Pichai, the second rung is also filled with Indian Americans who are likely to be the leaders of tomorrow at these companies. They include Apple senior vice president of operations Sabih Khan; Nvidia executive vice president of worldwide field operations Jay Puri and senior vice president of enterprise sales and business development Shanker Trivedi; Tesla chief financial officer Vaibhav Taneja and Google senior vice president Prabhakar Raghavan, who is widely considered to the second most important executive at the search giant. Other prominent executives include Meta vice president of machine learning Sandeep Pandey and vice president of product management Ragavan Srinivasan; storage major Micron’s chief business officer Sumit Sadana; Salesforce president and chief engineering officer Srini Tallapragada; Manish Sharma, chief executive officer, North America, Accenture; or Naga Chandrasekaran, who has been appointed chief global operations officer at global chip company Intel two weeks ago. He replaced company veteran Keyvan Esfarjani who retired after 30 years at Intel.

restructuring spree under new CEO Srini Pallia, IT major Wipro has elevated three veterans, as per an internal email seen by ET. Meanwhile, a senior executive who joined under ex-CEO Thierry Delaporte's watch has decided to exit the firm. Wipro has appointed Nanda Kishore, who has served the company for 30 years, as chief of delivery and operational excellence. He is currently the chief operating officer (COO) of Americas One. Dilip Dialani, who has been with Wipro for almost two decades, will take over from Nanda as COO of Americas One in Q3. Before he succeeded Delaporte as Wipro CEO, Srini had helmed Americas One as CEO. The firm is elevating the role of its chief information security officer Aathir Ahad, a Wipro veteran for over 21 years. Effective immediately, he will report to the company's COO Sanjeev Jain. Ahad will continue to shape the company's security strategy, ensuring compliance and safeguarding data, read the mail. Questions mailed to Wipro remained unanswered till the time of going to press.

Angelina Jolie and Brad Pitt together? The question popped up after Pax Jolie-Pitt, the 20-year-old son of Angelina Jolie and Brad Pitt, met with an accident last week and has been released, but needs further treatment, reports 'Blast'. Pax received a severe head injury from an electric bike accident in Los Angeles. According to the Los Angeles Police Department or LAPD, paramedics reached the accident site at Hobart and Los Feliz Boulevard after the e-bike rear-ended a vehicle that was stopped at a red light. Pax was immediately shifted to a local hospital with a severe head injury.

JPMorgan Chase has become the latest firm to harness the potential of AI as it arms thousands of its employees with powerful new virtual assistant.

Financial advisors in the US are increasingly seeking the expertise of specialists to navigate the complexities of today’s investment environment, according to a recent study by ISS Market Intelligence.

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Foreign Tourist Arrivals (FTAs) of 9.24 million (provisional estimates) with a growth of 43.5% over the same period of the previous year. This accounted for foreign exchange earnings of 2,31,927 crores (provisional estimates) with a growth of 65.74%, as per the annual report 2023-2024 released Friday by the Ministry of Tourism. As per the report, augmenting tourism infrastructure, easing of visa regime, projection of the country as a 365 days’ tourist destination are some of the policy areas which need to be constantly worked upon to increase and facilitate tourism in India. The report stated that identification, diversification, development, and promotion of niche tourism products in the country is the initiative of the ministry to overcome the aspect of ‘seasonality’ and to promote India as a 365 days’ destination to attract tourists with specific interest, and to ensure repeat visits. “Thus, new products may be added in due course. The Ministry of Tourism has constituted task forces and committees for the promotion of golf, medical, wellness, cruise and adventure tourism in the country,” stated the report.

rate for LTCG, not the slab rate. This benefit is only available for listed bonds. The 2024 Budget brought in slab rate taxation for unlisted bonds regardless of the holding period.

manufacturing sector during 2014-24 rose by 69 per cent to USD 165.1 billion, Parliament was informed on Friday. In a written reply to the Rajya Sabha, Minister of State for Commerce and Industry Jitin Prasada said that India is rapidly emerging as a preferred country for foreign investment in the manufacturing sector " FDI equity inflow in the manufacturing sectors in the last ten financial years (2014-24) has increased by 69 per cent to USD 165.1 billion as compared to USD 97.7 billion in the previous ten financial years (2004-14)," he said. He also said that the total FDI inflow of USD 383.50 billion has been reported in the country during the past five financial years (2019-20 to 2023-24).

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Puja Khedkar, on charges of threatening and obstructing a public servant in the discharge of duty in Pune district, officials said on Friday. The case was filed at the Bundgarden police station here on the basis of a complaint lodged by a tehsildar-rank officer from the Pune district collectorate, they said. «The complaint says that during Puja Khedkar's posting as an assistant collector, Dilip Khedkar allegedly used threatening language against tehsildar Dipak Akade, asking him to allot a cabin for his daughter even as he had no right to interfere in the administrative functioning,» an official said.

new tax regime in the July 2024 Budget, increasing its attractiveness compared to the old tax regime. This was done by changing the income tax slabs to reduce tax payable, hiking the standard deduction to Rs 75,000 and increasing the deduction to 14% on employer's contribution to the NPS account under the new tax regime. However, these changes have been made in the new tax regime after almost 4 months of the financial year 2024-25 are already over. Salaried individuals have already informed, in April of this financial year, their employers about their individual choice of tax regime for deducting tax from their salaries. Employers use the tax regime chosen by the employees as the basis for calculating the TDS from each employee's salary. In the most cases, this choice has to be made in the first month of the FY as per employers' requirements. Each employee chose the tax regime favourable to him/her based on the income tax slabs under the old and new tax regimes existing at that point in time. Latest income tax slabs in old, new tax regime for FY 2024-25

Kazakhstan’s anti-money laundering agency says officials in the country have blocked illegal crypto transactions worth a total of $75.4 million.

Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...