BUSINESS
Profit outflows from Pakistan drop by 80.4%
The SBP said that the foreign companies remitted $225.1 million in profits and dividends during the period from July 2022 to February 2023 compared to an outflow of $1,146.4 million in the same period of the last fiscal year, reports Xinhua news agency.
Supreme Court dismisses custom's plea claiming overvaluation in import of capital goods by Adani
A bench comprising Justices Krishna Murari and Sanjay Karol, after hearing detailed arguments in the matter from both sides, dismissed the appeal filed by the customs department against APML, APRL and others.
According to the counsel familiar with the development, the apex court found that the project cost of APML and APRL was either similar or lower than the price of peers/competitors.
'Life insurers to cut costs to grow under new tax regime'
According to the report authored by sectoral experts Avinash Singh and Mahek Shah, the life insurers for a long period of time have been selling their policies on one or more 'E' of EEE - Exempt, Exempt and Exempt- tax treatment (premium and proceeds are tax exempt).
Wind industry can expect record installations by 2025: Report
Policymakers need to act now to avoid a supply chain bottleneck stalling the deployment of wind energy from 2026. Those supply chain challenges could imperil hopes of the world reaching key 2030 climate targets -- a key stop on the journey to net zero by 2050.
37.5% grantmakers extend non-financial support to partners, 62.5% restrict only to financial support
Accelerate Indian Philanthropy, engaged with more than 20 philanthropic entities across categories including international foundations, domestic foundations, family foundations, and collectives, to understand their grantmaking lifecycle and approach to grantmaking. Noted industry names such as the Azim Premji Foundation.
EPFO fixes 8.15% interest rate on employees' provident fund for 2022-23
The decision was taken by EPFO's board of trustees. Last year, EPFO had declared 8.1 per cent as the rate of interest for 2021-22, which was the lowest in 40 years. The last time the interest rate had slipped to 8 per cent was in 1977-78. Subsequent to the CBT decision, the interest rate on EPF deposits for 2022-23 will be sent for the finance ministry's approval.
US CFTC civil complaint 'unexpected & disappointing': Binance CEO
The US regulators on Monday sued the leading blockchain and cryptocurrency for allegedly breaking trading and derivatives rules. In a statement, CZ said that they have been working cooperatively with the CFTC for over two years. Upon an initial review, the complaint appears to contain an incomplete recitation of facts.
Disney's 1st job cut round begins this week, 7K employees to be hit: CEO
The job cuts will reportedly affect Disney's media and distribution segment along with ESPN and the parks and resorts division, according to CNBC. "This week, we begin notifying employees whose positions are impacted by the company's workforce reductions," Iger wrote in the memo.
Rs 60K crore allocated for development of existing airports, Rs 38K crore for new Greenfield airports
Upgradation and modernisation of airports is a continuous process and is undertaken by the Airports Authority of India (AAI) and other airport developers from time to time depending on the availability of land, commercial viability, socio-economic considerations, traffic demand and willingness of the airlines to operate to/from such airports.
Total amount of cess and surcharge grew by 63.74% from 2017-18 to 2022-23
Collections under GST Compensation Cess grew by 107.6 per cent from 2017-18 to 2022-23 (RE), Finance Minister Nirmala Sitharaman told the Lok Sabha in a written reply. The Minister saidthat in the case of GST Compensation Cess, the proceeds of the cess leviable is initially credited to the Consolidated Fund of India, in terms of Article 266.
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