BUSINESS
Karnataka govt promulgates ordinance to impose 28% tax on online gaming
The additional tax will also be imposed on racecourses, and casinos following the consent of Governor Thawarchand Gehlot.
Nifty faces profit booking after strong start
Smaller stocks represented by Nifty Mid and small cap 100 Index outperformed the Nifty where they gained 1.08 per cent and 0.99 per cent respectively as against 0.59 per cent rise in the Nifty.
Air India acquired three brand new aircraft this week, says CEO Wilson
In his Friday letter, Wilson said that the aircraft acquired are part of the mammoth 470-aircraft order announced just a few months ago.
Licious sees flat revenue, losses narrow to Rs 528 cr in FY23
Even as the company’s revenues remained flat, its losses in FY23 narrowed to Rs 528.5 crore, still down around 38 per cent from Rs 855.6 crore in FY22, according to data accessed via market intelligence platform Tofler.
Interest rate for 5-year recurring deposit hiked to 6.7 %, rates for other key schemes kept unchanged
The Finance Ministry, which revises interest rates for small saving schemes after every quarter, announced the new rates on Friday for the period between October 1 and December 31, 2023.
Core sector growth shoots up to 14-month high in August
The expansion in August is the highest since June 2022, when it was 13.2 per cent. In July, the number stood at 8.4 per cent.
India’s forex kitty falls for 3rd week in a row
The forex kitty fell by as much as $2.3 billion during the week after having plunged by as much as $5.9 billion in the two preceding weeks.
Vedanta announces demerger of diversified businesses
More than ninety percent of Vedanta Ltd’s profits are derived in India. Demand for commodities is expected to rise exponentially as the country continues to build a world class infrastructure and strives to achieve aggressive targets for the energy transition which is highly mineral intensive.
US drug regulator to carry out more surprise checks of pharma factories in India
“A mixture of announced and unannounced inspections is important, and you will see more unannounced inspections,” FDA Commissioner Robert Califf said in an interview to a TV news channel.
RBI to maintain rates, real estate sector to be disappointed
He also added that not in the near future the MPC will reduce the repo rate from the current 6.5 per cent.
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