BUSINESS
India, South Korea set $50 billion bilateral trade target before 2030
The two mnisters held wide-ranging discussions covering the whole gamut of bilateral trade and investment-related aspects. They also agreed to impart fresh momentum to the discussions on the Comprehensive Economic Cooperation Agreement (CEPA) upgradation negotiations and also promote extensive B2B interactions on trade and investment between industry leaders of the two countries, a Commerce and Industry Ministry statement said.
'Govt committed to reach out to potential small startups'
The facility aims to provide clean drinking water at a price much lesser than the market price. Speaking on the occasion, the Minister said, the Artificial Intelligence (AI) driven start-up initiative should be motivating for the other startups as well. An MoU was also signed between the Technology Development Board (TDB), a statutory body of Department of Science & Technology and Swajal Water Private Limited, a tech start up company founded by ex-IITians based in Gurugram.
Deadline for filing Income Tax Return extended till March 15
The due date of furnishing of returns of income for the assessment year 2021-22 has now been extended to March 15, 2022. In a statement, the Ministry of Finance said the decision has been taken after considering difficulties reported by the taxpayers and other stakeholders due to the Covid situation and in electronic filing of various reports of audit under the provisions of the Income Tax Act, 1961.
India Inc's EBITDA margin to get impacted in Q3FY22: Crisil
As per Crisil Research's analysis of 300 companies, excluding those in the financial services, and oil and gas sectors indicated a 100-120 basis points (bps) dip on-year and 70-100 bps sequentially during the period under review. The trend marked the first on-year decline in 12 quarters. The analysis showed that as many as 27 of 40 sectors tracked by Crisil Research are likely to see their Ebitda margins shrinking.
Covid Ready: Businesses prepared to take on wave 3.0; mild impact expected
Accordingly, the rising cases of Covid-19 as well as subsequent mobility curbs will have a ‘relatively mild' impact on India's economy in comparison to earlier waves. On the other hand, the bounce back powered by the pent-up demand will be strong. Lately, the covid resurgence have led to various curbs instituted by state governments such as reduced capacity of markets, night and weekend curfews to check the infection transmission rate.
Equities settle in green; Nifty IT, realty top gainers
After a continuous sell-off in the past three months, foreign portfolio investors returned into the equity market and have turned net buyers in the first week of January. FPIs returning into the market also kept equity markets buoyed in 2022. The Sensex and Nifty settled at 60,616 points and 18,055 points, up 0.4 per cent and 0.3 per cent from their previous close, respectively.
Paytm stock hits all-time low
Manoj Dalmia, Founder and Director at Proficient Equities Private Limited said Paytm Share plunged by 6 per cent and is further down 1.48 per cent making its all-time low.
Dalmia said Paytm's payment business accounts for about 70 per cent of revenue, which will be under threat if there are any regulatory changes. Also, its entry into insurance sectors has been rejected by regulators.
Vodafone Idea shares decline 19% as board plans to convert dues into equity
"The board of directors, at its meeting held on January 10, 2022, has approved the conversion of the full amount of interest related to spectrum auction instalments and AGR dues into equity," Vodafone Idea said in a regulatory filing on Tuesday.
1 in 7 German companies fear for survival: Survey
Travel agencies and tour operators, as well as companies in the event industry in Germany considered themselves to be particularly at risk, with 73.2 per cent and 67.4 per cent fearing for survival, respectively, reports Xinhua news agency citing the published by the Munich-based ifo Institute on Monday. The situation was only slightly better in the country's restaurant and catering as well as in the accommodation industry.
ICICI-Videocon scam: SC junks ED's appeal against bail to Deepak Kochhar
Deepak Kochhar moved the high court after a special Mumbai court declined to entertain his bail plea in December 2020. The ED moved the Supreme Court challenging the high court order.
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