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Ukrainian shelling of Russia-held areas of the Donetsk region killed two people in the village of Horlivka, Russian state news agency RIA Novosti said. Three people were wounded by Russian drone strikes in southern Ukraine's partly occupied Kherson region, local officials said Sunday morning. In the country's northeast, officials in the Kharkiv region said two people were wounded when a village was hit by Russian shells.

Bangladesh via land ports came to a standstill on Sunday as there was no movement of cargo trucks to and fro due to the ongoing student protests in the neighbouring country, officials said. The Bangladeshi side of the Petrapole landport remained non-functional, they said. Nearly one-third of land-based trade between India and Bangladesh takes place through Petrapole. «Trade from other land ports to Bangladesh, including Petrapole, Gojadanga, Fulbari, and Mahadipur, has also stalled as Bangladeshi Customs announced a two-day holiday from Sunday, following the government's declaration of a holiday except for essential services due to unrest,» West Bengal Exporters' Coordination Committee Secretary Ujjal Saha said. The cargo trucks that crossed over to Bangladesh on Saturday from Mahadipur port in Malda have not returned, but they are safe, he said.

Bitcoin’s recent ascent to $67,567—its highest mark in a month—signals a potential shift in market dynamics. Currently trading at $66,762, this rally is underpinned by several key factors.

GTRI) has suggested suspension of quality control orders (QCO) on polyester and viscose staple fibre for a few years to allow domestic manufacturers to become competitive, expansion of products covered and criteria relaxation in the textile production linked incentive (PLI) scheme, overhaul of Directorate of Foreign Trade (DGFT) and Customs procedures, and addressing monopolistic practices of domestic suppliers, to boost India’s garment exports. Highlighting complex procedures, import restrictions and domestic vested interests are hindering the export growth of the Indian garment sector, it said that sourcing quality raw fabric, particularly synthetic fabric being the root causes of exporters’ problem. The report assumes significant in the wake of India losing to other countries even as garment and textile imports rise steadily.

Nilesh Shah believes there is some froth in certain pockets of the markets, where low floating stocks and concentrated counters are trading at exorbitant valuations. «These valuations do not make sense from an ordinary point of view,» said Shah, who heads Kotak AMC, in a chat with ETMarkets.

Union Budget.

free trade agreement negotiations are set to be defined this week as UK Foreign Secretary David Lammy is expected in India on Tuesday, the first high-profile visit under the newly elected Labour government in Britain. The free trade agreement (FTA) talks began in January 2022, under the then Conservative government, with a target to significantly boost the GBP 38.1 billion a year bilateral trading partnership but hit a block in the fourteenth round of negotiations to make way for general elections in both countries. A report in 'The Daily Telegraph' on Sunday quotes a New Delhi source to claim the Indian side would seek clarity on whether the Labour government intends to pick things up from where they were left off or start afresh in some way. «India is keen to resume talks on a positive note, but the date needs clarity,» the source told the newspaper.

economy in the world. And if it has to retain this status, two elements are critical – first, capital flows from domestic corporates, multinationals as well as financial sponsors must continue to be robust, and second, mergers and acquisitions and other value creation activities need a steroidal push. This Budget, the first one in the third term of the government, thus carries great expectations from investors and India Inc. Here are seven predictions on what one could potentially see in the current Budget, from an M&A standpoint. First, listed company transactions in India today face a peculiar and unique problem. Valuation rules enshrined in the anti-abuse provision contained in section 56 of the Income tax Act, can be misinterpreted, to throw open these transactions to an unintended consequence – that even bona fide trades between unrelated parties at prices discovered transparently and commercially negotiated, could still be subject to artificial pricing norms, and expose the transaction to ordinary income taxes, in the hands of the buyer. Clearly, in the current markets, one would expect a host of listed company transactions – exposing these transactions to a tax on a provision that was never intended to tax such trades, would be something that the government would want to resolve.

₹5 lakh do not have to pay any income tax in both old and new tax regimes. She proposed increasing the rebate limit in the new tax regime, under which persons with income up to ₹7 lakh will not have to pay any tax. The updates to Section 87A of the Income Tax Act aimed to make taxpayers with a total taxable income of up to ₹7 lakh eligible for a rebate equivalent to their tax liability, capped at ₹25,000.

In the past few years, there has been a gradual positive shift in the right direction. The government has provided clarity on taxation, and crypto exchanges are now reported entities under the Prevention of Money Laundering Act (PMLA). However, the tax rate remains high, which is negatively impacting the growth of the ecosystem. This situation has led to a migration of trading volume to international exchanges, posing higher risks in terms of compliance and customer protection.

Infosys reported robust Q1 numbers, leading to a host of positive brokerage views on the counter. The Nifty50 index on Friday closed 1.09% or 270 points lower at 24,530 while the S&P Sensex closed the day nearly 1% or 739 points lower at 80,604.65.

Out of the lot, two are Nifty companies, i.e., HCL Tech and Shriram Finance, along with other names like PFC, MRF, and RBL Bank.

Cryptocurrencies remain largely unregulated across the world. The G-20 Summit in 2023, where India presided as the President, emphasised establishing a collaborative and global network of regulations in cryptocurrencies which gathered steam from the attendees. This has been driven by India’s Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, which is yet to be tabled but is becoming an era-appropriate necessity. Presently, cryptocurrencies are taxed at 30% on the earnings, while a further 1% is deducted from earnings. Meanwhile, the focus of the Crypto Bill is to establish a regulated structure in the domain that assists in the creation of official digital currencies.

Solana (SOL), currently ranked 10th in the cryptocurrency market by capitalization, has been gaining traction, trading robustly around $168.55, with an intra-day high reaching $171.64.

energy crisis. He criticized the current administration for its policies which have burdened the population. The focus of the speech was on controlling inflation, giving relief from high rates of taxation and arresting the energy crisis in the country. The former US President has expressed confidence at winning the upcoming presidential poll in November. He accused the current administration of cancelling of his previous policies during his first term of presidency.

China's challenge to American primacy, it's believed, will be the defining contest of the century. While this may be true, a far more dangerous contest is afoot between what seems to be a crumbling old order (US-led West) and a rivalrous new Axis that is struggling to be born — China-Russia-Iran-North Korea (CRIK). Award winning journalist John Pilger tells us that Mao in 1944 had made an appeal to Washington, «China must industrialise, this can only be done by Free Enterprise. Chinese and American interests fit together, economically and politically. We cannot risk crossing America; we cannot risk any conflict». He received no reply. Mao's successors decided to join the system and beat the US at its own game — capitalism & innovation — and are now with its bete noire Russia challenging the American-led order. Iran and North Korea have strengthened this New Axis. The evolving powerplay has created the precise construct that Henry Kissinger had once warned: a Bear-Dragon tandem that is in delightful synchrony. The New Axis has not only performed well in the Ukrainian and West Asian theatres of war, but is also looking towards the Global South (125 countries, 80% of the global population, 40% of global GDP) as its wider field of play.

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Bitcoin (BTC) has continued its upward trend, recently surpassing $66,500 and reaching an intra-day high of $67,366. This bullish rally is largely attributed to increased Bitcoin whale holdings, indicating rising investor confidence that supports the cryptocurrency’s price.

Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content

Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content

Microsoft Systems, exchanges and clearing corporations in India functioned without any major impact, a joint media release by exchanges said on Saturday. Out of over 1,400 trading members' ecosystem, there were only 11 trading members who reported disruptions to their operations, the release said. «Overall, exchanges & clearing corporations have not witnessed any significant impact to the trading and clearing activities in the Indian securities market,» the release said, adding that the issues with the affected members were either resolved during the day, or are being resolved.