BUSINESS
International Finance Corporation to invest $15M in South Asia Growth Fund II
The Fund's offshore sponsor is GEF Capital Partners, LLC, a Delaware limited liability company (GEF Capital). The Fund will engage GEF Capital to carry out certain investment management and administration duties. GEF Capital was founded in 2018 and is led by Raj Pai, Sridhar Narayan and four other partners, IFC said.
Bosch India's net profit down 26%
The company's annual net profit for FY20-21 stood at Rs 482.5 crore as against Rs 649.8 crore reported for the corresponding previous year. The company had made a provision of Rs 743.8 crore towards various restructuring, reskilling and redeployment initiatives during FY21. On a quarterly basis, the net profit after tax (PAT) increased to Rs 482 crore from Rs 81.1 crore in Jan-March 2020.
Govt further extends tax compliance timelines; individuals can file returns by Sept 30
Accordingly, the Central Board of Direct Taxes (CBDT) has now extended the due date for furnishing of Return of Income for the Assessment Year 2021-22, which is 31 July, 2021 by couple of months to 30 September, 2021.
I-T department to launch new e-filing Portal on June 7
The new e-filing portal is aimed at providing taxpayer convenience and a modern, seamless experience to taxpayers, ministry of finance said in a statement.
RIL well-placed in consumer business: Survey
BofA Securities conducted an online survey of 1,000 users in India (using Survey Monkey) to gauge the changing consumer thought process and understand traction. Key insights of the survey showed that on mobile tariffs, 69 per cent of the surveyed users don't mind paying 15-20 per cent higher telco tariffs.
Global cues, slowdown fears subdue equities, metal stocks fall
Both the key indices started on a positive note with a gap-up opening, but ceded their initial gains soon afterwards. Among sectors, realty was the only major gainer while metals, banks, and oil and gas were the main losers.
Global cues subdue equity markets, metal stocks fall
At 11.50 a.m., the S&P BSE Sensex traded at 49,921.61, higher by 18.97 points, or 0.04 per cent, from its previous close. Similarly, the Nifty50 of the National Stock Exchange traded at 15,014.25, up by 15.90 points, or 0.11 per cent, from its previous close. Besides, both the key indices started on a positive note with a gap up opening, however, ceding their initial gains soon afterwards.
5 women employees sue Amazon over discrimination
The women, in their early 20s to mid-60s, alleged in the lawsuit filed in various US district courts that they were retaliated against by "white managers" for complaining internally about race, gender, or sexual harassment or discrimination that they experienced, ReCode reported on Wednesday.
Elon Musk is no longer world’s second-richest person
Musk, the co-founder of electric vehicle maker, Tesla, was ousted by LVMH president Bernard Arnault as the value of Tesla fell by 24% since January this year. Arnault unseated Musk by a difference of a few million dollars. While the luxury goods tycoon Arnault has assembled a fortune of $161.2 Billion, the Tesla CEO’s fortune fell to $160.6 billion, says the report by Bloomberg Billionaires Index.
Bitcoin tumbles after China warning
Bitcoin was last down 12 per cent to $38,180, setting a fresh low for the past 24 hours of $36,219 in a month that has left the No 1 cryptocurrency 31 per cent lower. Bitcoin hasn't traded below the $40,000 level since early February and is roughly 40 per cent below a mid-April record high of $64,829, the report said.
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