Services Financial News

Delhi Chief Minister Arvind Kejriwal on Thursday accused the BJP of backstabbing the people of the national capital after Lok Sabha passed a bill to replace an ordinance promulgated for handling the transfers and postings of senior officers in the city government. Kejriwal lashed out at the BJP and Prime Minister Narendra Modi, and urged people not to believe anything the PM says. «BJP always promised to give full statehood to Delhi.

data communication services provided by entities other than the Airports Authority of India (AAI) as issues around service license and methodology of spectrum allocation such as auction etc remained untouched in the previous process. On December 12 last year, the Telecom Regulatory Authority of India (Trai) had issued a consultation paper on the matter, asking for suggestions regarding the mechanism of providing spectrum to IT and communication vendors to the Indian aviation industry – Société Internationale de Telecommunications Aeronautiques, (SITA) and Bird Consultancy Services (BCS).

WASHINGTON (Reuters) — The U.S. services sector slowed in July, but businesses faced higher prices for inputs as demand continued to hold up, suggesting a long and slow road to low inflation.

Cryptocurrency exchange KuCoin has announced that it will be temporarily suspending its Bitcoin (BTC) and Litecoin (LTC) mining pools until further notice.

Crypto exchange HashKey has become the first digital asset entity to receive a license under Hong Kong’s new crypto licensing regime.

Israel is set to introduce more regulated cryptocurrency opportunities, with the country’s only public stock exchange preparing to offer new crypto services.

Amit Shah on Thursday said the AAP's opposition to the Delhi services bill was aimed at hiding corruption of the Delhi government as he urged other opposition parties to not support it. Initiating the debate in the Lok Sabha on the Government of National Capital Territory of Delhi (Amendment) Bill, 2023, Shah said the BJP and Congress had ruled the national capital without any confrontation, and problems arose only in 2015 when a government came that had no intention to serve but only be at loggerheads with the Centre. «The problem with the Bill is not about control of transfer and postings of officers, but to hide the truth of the bungalow worth crores by gaining control over vigilance and to hide the truth about the corruption that has taken place,» Shah said. The MP from Gandhinagar in Gujarat also cautioned the opposition, which is building a coalition against the BJP-led NDA for the 2024 Lok Sabha elections, saying that bills and laws were for the benefit of the people and should be supported or opposed solely for that purpose. «It is my request to all the parties not to indulge in politics of supporting or opposing legislation just to win elections or gain the backing of some party.

NTT Data Payments Services India, which has grown through a clutch of acquisitions including that of Atom Technologies, is keen to do more such deals as it seeks to become a top-five player in the next few days. The domestic arm of the Japanese tech major last September received in-principle approval from the Reserve Bank for a payment aggregator licence and is today among the top ten in this already cluttered space.

Bank of England's interest rate decision. The final reading of the UK S&P Global Services Purchasing Managers' Index (PMI) fell in July to 51.5 from 53.7 in June, unchanged from a preliminary «flash» reading.

Also Read: Morgan Stanley upgrades India to Overweight citing ‘less extreme’ valuations; downgrades China to Equal-weight "The resilience of the service sector underscores its vital role in fuelling India's economy, with the PMI results for July so far pointing to a notable contribution from the sector to overall GDP for the second fiscal quarter," noted Pollyanna De Lima, economics associate director at S&P Global Market Intelligence. Meanwhile, the manufacturing sector PMI dipped to 57.7 in July, data released on Monday showed.

India's dominant services sector continued its robust performance as total sales rose at the quickest pace since June 2010, PMI data released on Thursday showed. S&P Global's India services purchasing managers' index rose to 62.3 in July from June's 58.5. Analysts at Reuters had pegged a dip to 58.0.

Parliament on Thursday as the legislation could not be taken up for consideration and passage on the tenth day of the ongoing Monsoon session because both Lok Sabha and Rajya Sabha faced adjournments, owing to disruptions by Opposition benches over the Manipur issue. The list of business of the House for today mentions that Union Minister Amit Shah will move the bill for passage in the House. The bill was introduced in Lok Sabha on Tuesday with opposition parties opposing the government's move.

Evergrande Property Services Group shed 50% of their value on Thursday when trading resumed after 16 months, following the release of its financial results and the end of an investigation into misused funds involving its parent. The property services firm was dragged into financial troubles after its parent, China Evergrande Group, the world's most indebted property developer, became embroiled in a debt crisis in mid-2021 that later spread across the sector.

Delhi services ordinance, NCP founder and Rajya Sabha member Sharad Pawar said on Wednesday. The Union government had on Tuesday tabled the contentious bill in Lok Sabha to replace the Delhi services ordinance amid vociferous protests by opposition members, who termed it a «murder of democracy», evoking a sharp retort of «politically motivated» jibe from Home Minister Amit Shah.

Rajya Sabha MP Sanjay Singh on Wednesday said the Government of National Capital Territory of Delhi (Amendment) Bill, 2023, which seeks to replace the Delhi services ordinance, will not survive in the Rajya Sabha. All members of the opposition bloc INDIA will oppose the proposed legislation in the Upper House, he told PTI video. Tabled by Minister of State for Home Affairs Nityanand Rai, the proposed legislation will reverse the effect of a Supreme Court verdict that gave the elected government of Delhi power over administrative services in the national capital.

The Bill, which seeks to replace the Centre's Ordinance over the control of services in the national capital and was introduced by the Union Minister for State for Home, Nityanand Rai, will be taken up for consideration and passage by the Lower House on Wednesday. Meanwhile, the logjam in both Houses over the Manipur situation and the demand for a discussion and a statement from Prime Minister Narendra Modi, is likely to persist as the Parliament reconvenes on Wednesday. The Bill was introduced on Tuesday amid continued slogan-shouting by members in the Opposition benches. However, rejecting the contentions put forward by members in the Opposition, Home Minister Amit Shah, citing a Supreme Court ruling, said the Constitution has vested the Lower House with the power to table any law pertaining to Delhi for consideration and passage.

Companies will not have to deduct GST under reverse charge mechanism (RCM) on services such as renting of immovable property provided by directors in his personal capacity, the finance ministry said on Tuesday.In a clarification issued after the GST Council meeting on July 11, the ministry said that only those services which are provided by directors in his official capacity to the company would attract GST under RCM.Under the RCM, entity receiving the services are required to deduct GST while making payments to the supplier.

Major cryptocurrency exchange Binance has announced the launch of a Japan-based arm roughly two years after receiving a warning from the country’s financial regulator.

Companies will not have to deduct GST under reverse charge mechanism (RCM) on services such as renting of immovable property provided by directors in his personal capacity, the finance ministry said on Tuesday. In a clarification issued after the GST Council meeting on July 11, the ministry said that only those services which are provided by directors in his official capacity to the company would attract GST under RCM.

₹103 per equity share and the share will be listed on the NSE SME exchange Wednesday, 9 August. Zeal Global Services IPO plans to raise ₹36.46 crore. The company plans to use the issue's proceeds to pay for the following things: working capital needs, investments in subsidiaries for company growth, partial debt repayment, general corporate purposes, and issue expenditures.

Government of National Capital Territory of Delhi (Amendment) Bill, 2023, in the Lok Sabha. The bill seeks to replace an ordinance related to the control of services in the national capital. The legislation, which has brought the Delhi government and the Centre at loggerheads, empowers the Delhi Lt Governor to have the final say in recommendations regarding the transfers and postings of Delhi government officials.