Provident Financial News

NEW DELHI : The government is at an advanced stage of formulating a new piece of legislation to offer investors ready approvals for all requirements and replace the special economic zones (SEZ) Act and non-tax measures remain the preferred route for promoting new investments in the country, revenue secretary Sanjay Malhotra said in an interview. Finance minister Nirmala Sitharaman announced the Development of Enterprise and Service Hubs (DESH) Bill in February 2022. The proposed law will replace the existing one governing SEZs.

Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: an earnings miss and angry workers at Tesla; a vow from Nio; and a delisting at Lordstown.

Morgan Stanley PE Asia has acquired a controlling stake in ClearMedi Healthcare, a Delhi-headquartered chain of oncology hospitals and radiation therapy centres, in a deal valued at about $35 million (Rs 285 crore). Italy's KOS Group, which has been a strategic investor, exited ClearMedi by selling its stake to the PE firm and the promoters of the healthcare provider, people briefed on the transactions told ET.

Medecins Sans Frontieres has said. “The deal remains just a stop-gap because bedaquiline will only be available to a limited number of countries that will be included in this agreement, procuring through the Global Drug Facility,” Christophe Perrin, TB advocacy pharmacist at Medecins Sans Frontieres (MSF) Access Campaign, said in a statement. According to MSF, nine countries in East Europe and Central Asia with high burden of drug-resistant TB are excluded from this deal. “While the included list of countries has yet to be made public, we have learned that the nine countries in the Eastern Europe and Central Asia (EECA) region, which have some of the world’s highest burden of drug-resistant TB, are excluded from this deal,” Perrin said. “The full terms of the agreement still need to be made public,” he said. Perrin said Johnson & Johnson (J&J) should announce it will not enforce any secondary patents on bedaquiline in any country with a high burden of TB, and withdraw and abandon all pending secondary patent applications for this lifesaving drug.

REC, a subsidiary of Power Finance Corp., plans to expand its lending in the renewable energy space to Rs 2.4 lakh crore by 2030, says its director-technical, VK Singh. While land and grid availability can be challenging for developing new green energy projects, policies of the government and support from states have been encouraging, he tells Shilpy Sinha. Edited excerpts:The renewables space has been gathering pace. How is REC positioned considering India's target of achieving 500 GW capacity by 2030? India is at 175 GW and needs to add 325 GW by 2030.

United Arab Emirates (UAE) to trade in local currencies is the second big step towards internationalising the rupee. Russia last year agreed to sell crude oil to India in rupees after the West imposed sanctions on settlement in dollars. India is beginning at the top with the UAE, its third-largest trading partner after the US and China.

DGGI) has sent tax demand notices to several local corporate houses over corporate guarantees given on behalf of their subsidiaries, and to multinationals where they have given such guarantees for their Indian units. The notices were sent to at least 14 companies, including automakers, FMCG and electronic goods companies, ET has learnt. In a notice ET has seen, the DGGI said the practice is a ‘service’ liable for taxation under GST as this is undertaken by the parent company to maximise the returns on investment on these subsidiaries. In the case of MNCs, tax authorities are seeking GST dues from the local unit under the reverse charge mechanism. “We have discovered that some companies were not paying tax on the corporate guarantee extended by them which is liable for tax under the GST during the audit and so tax demand has been raised as per the law,” a senior official told ET. While the tax demand amount is not very high, companies that received such notices have raised objections and are seeking legal opinion, sources said. Officials estimated the cumulative sum of demand notices sent in the last two months to be Rs 600-700 crore.

Honkai Star Rail is preparing to unveil its newest sensation, the majestic Dan Heng Imbibitor Lunae. This exceptional 5-star Imaginary character is set to make a grand entrance, captivating players with its unique form and extraordinary abilities.

Mainichi, a national news site. The trial will focus on patients affected by anodontia, a genetic condition resulting in the absence of teeth, or partial anodontia, where individuals are missing some teeth, as described by the National Organization for Rare Disorders (NORD). Scheduled to commence in July 2024, the clinical trials will take place in Japan. Should the results prove successful, regulatory approval for the medicine is anticipated by 2030, offering potential revolutionary advancements in the field of dentistry.

The COVID-19 pandemic gave a significant boost to streaming stocks in 2020 and 2021. Just think about it: Netflix (NASDAQ:NFLX) crossed the impressive 200 million subscribers milestone, and Walt Disney's (NYSE:DIS) Disney+ hit 100 million subscribers during those trying times.

Maine. As weather conditions progress, watches and warnings have been implemented across the state. The National Weather Service has activated a tornado watch for Cumberland and York County, indicating the potential for tornado formation in these regions.

Some Republican candidates are finding creative ways to boost their donor numbers and to ensure they make it on stage as only six weeks remaining for the first 2024 GOP presidential debate to begin While biotech entrepreneur Vivek Ramaswamy rolled out a plan to let people who raise money for his campaign to keep 10% of whatever they take in from other donors, Gov. Doug Burgum of North Dakota is offering $20 Mastercard or Visa gift cards in return for campaign donations of as little as $1 and businessman Perry Johnson is offering copies of his book in exchange for donations.

Housing Development Finance Corporation (HDFC). With expectations of strong loan growth and the integration benefits from the merger, HDFC Bank's Q1 results are poised to make headlines. Analysts estimate that HDFC Bank will report a standalone net profit of ₹11,580 crore for the April-June period, representing an impressive 25.9% jump compared to the same period last year.

₹745 crore through an initial public offering (IPO). The company plans to use the proceeds of the IPO to set up a new manufacturing facility, fund its capital expenditure, and expand its distribution network. Flair Writing Industries is a well-established company with a strong track record of growth.

In view of heavy rains across the country disrupting movement of vehicles on highways, ministry of road transport and highways has set up control room in the ministry office. The control room will monitor problems arising from heavy rains impacting the operation of national highways in the country round-the-clock.

₹10,000 each to the flood-affected families.Taking to Twitter, he said many poor families living along the Yamuna banks have lost their homes in the floods and some have lost all their belongings. "Many very poor families living on the banks of Yamuna have suffered a lot. In some families, the entire household goods were washed away.

Loud Quitting." Contrary to its predecessor, «quiet quitting,» Loud Quitting is a trend characterized by employees actively disengaging from their jobs and openly expressing their discontent. The State of the Global Workplace 2023 Report by Gallup, as cited in Fortune Magazine, revealed that approximately 18 percent of global employees, roughly one in five, fall into this actively disengaged category. The Gallup report defines actively disengaged employees as individuals who take actions directly detrimental to the organization, sabotaging its goals and challenging its leadership.

Google Doodle in the US and other countries, Zarina Hashmi is known globally for her minimalist art. Recognised as one of the most significant artists associated with the minimalist movement, Zarina Hashmi, the late Indian American artist and printmaker, left an indelible mark on the art world. Through collaboration with guest artist Tara Anand from New York, the doodle artwork honouring Hashmi beautifully captures Hashmi's exploration of concepts such as home, displacement, borders, and memory, employing minimalist abstract and geometric shapes.

Elon Musk and Mark Zuckerberg have been making headlines due to their ongoing rivalry, but amidst the tension, a surprising turn of events occurred on social media. An AI-generated picture collage depicting a harmonious encounter between the two tech titans has gone viral, capturing the attention and amusement of netizens. Shared by a Twitter user known as Sir Doge of the Coin, the images depict Musk and Zuckerberg in a casual setting, reminiscent of a couple on a beach holiday.

The organisation will offer you a salary package that it thinks is suitable for both the parties. However, it will give you an opportunity to present the numbers you desire. At this very moment, the ball will be in your court. Now, how well you play will heavily influence the final verdict. It may come as a surprise to many that a lot of individuals fail to do the necessary talk but accept the company’s offer without making any negotiations, simply because they are too scared to put forward their opinion. Probably why it’s important to prepare yourself and keep a few strong points up your sleeve before agreeing to any salary structure. Already feeling the pressure building up? Don’t worry. We have curated a list of a few effective ways to help you ask for a pay that you truly deserve. 1) First, do a thorough market research – To be able to quote the right figures, you must first search about the current salary trends for the position you wish to take up. This will give you a clear idea about what exactly is the average pay for a specific role — based on factors such as your experience, educational qualifications and skills. For authentic responses, you can either connect with the people from your industry or visit websites such as Glassdoor, LinkedIn, Indeed and PayScale to draw salary comparisons.

Trans-Pacific Partnership (CPTPP) trade bloc, a move it says will help grow the country's economy and provide access for British businesses to a market of over 500 million people. UK Business and Trade Secretary Kemi Badenoch, who is also leading the ongoing free trade agreement (FTA) negotiations with India, signed the pact agreed earlier this year during a visit to Auckland and hailed it as a major post-Brexit win for the country.