BUSINESS
India, Canada likely to sign FTA soon
Although the two countries have held multiple rounds of talks for a Comprehensive Economic Partnership Agreement (CEPA) since 2010, the prospects brightened when Union Minister Piyush Goyal visited Canada in May to review the progress of negotiations.
Asian markets fall after Fitch downgrades US debt
Hong Kong’s Hang Seng Index and Japan’s benchmark Nikkei 225 both tumbled 2 per cent, leading losses in the region, CNN reported.
Around 15% of unicorn startups have at least one woman founder, says PM
"In India, about 15 per cent of unicorn startups have at least one woman founder. Our goal should be to create a level platform where women achievers become the norm. At the same time, we need to ensure that the burden of care and domestic work is appropriately addressed," PM Modi said in his virtual address at the G20 ministerial conference on women empowerment in Gandhinagar, Gujarat.
Sensex slumps over 600 points to fall below 66k mark
Sensex was trading down 628 points at 65,830 points. Twenty-seven stocks out of Sensex 30 were in the red, with NTPC and Tata Steel down more than 2 per cent. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. said the major news after market close yesterday is the rating agency Fitch’s downgrade of US sovereign rating from AAA to AA+.
GST council to take final call on 28% levy on online gaming, casinos & horse racing today
The meeting of the GST council, which is headed by Finance Minister Nirmala Sitharaman, will be held virtually. On July 11, the GST council decided that there will be a 28 per cent GST levy on full value of gaming, horse racing and casinos. The decision had led to disappointment in the gaming industry, which had even written to the finance ministry, urging it to revoke the decision.
Steve Jobs’ son starts $200 mn VC fund to find new cancer treatments
The 31-year-old Reed is “expanding on his work at Emerson Collective, a philanthropic organisation founded by his mother, Laurene Powell Jobs,” reports DealBook. His father and iconic Apple figure Steve died from complications of pancreatic cancer in 2011. “My father got diagnosed with cancer when I was 12,” Reed was quoted as saying.
More than 6 crore ITRs filed till July 31, 16% more than last year, says IT Department
This was 16.1 per cent more than the 5.83 crore ITRs which were filed for the assessment year 2022-23, till July 31, 2022. The filing of ITRs peaked on July 31, which was the last date for filing returns for salaried taxpayers, the department said, with over 64.33 lakh ITRs being filed on a single day.
Vanguard slashes Bhavish-run Ola’s valuation by 52% at $3.5 bn: Report
According to a TechCrunch report, citing Vanguard’s filings, the investment firm has cut the worth of its shares in Ani Technologies, Ola’s holding firm, by 51.6 per cent.
Former AWS exec Puneet Chandok to lead Microsoft’s India operations
Effective from September 1, he will assume the operational responsibilities from Anant Maheshwari. Supported by a strong leadership team, Chandok will oversee the integration of Microsoft's businesses across South Asia, including Bangladesh, Bhutan, Maldives, Nepal, and Sri Lanka, further boosting the company's presence in the region.
1st time in India's history, majority of Nifty50 Cos promoters, executive directors not foreign/IITs/IIMs educated
Symptomatic of this transformation is HDFC Bank, India’s second largest listed company by market cap. All the Executive Directors on the Board of the bank are graduates of Mumbai University and the rise of such executives is now the norm in India, Nandita Rajhansa and Saurabh Mukherjea of Marcellus Investment Managers said.
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