 "News digest: Stock markets, MSME sector, STCG tax, NBFC bonds, and more")
US gives India waiver under Iran sanctions
The United States said on Friday it would temporarily allow eight importers to keep buying Iranian oil when it reimposes sanctions on Monday to try to force Iran to curb its nuclear, missile and regional activities. Read more
Early Diwali for MSME sector
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Prime Minister Narendra Modi on Friday announced a 12-point package for micro, small and medium enterprises (MSMEs), aimed at giving them access to credit and increasing their cash flows, along with a liberal business environment. Read more
Apple posts flat growth in India
Apple is not growing in India at a pace its CEO Tim Cook would like it to. Cook, who earlier called India a high-growth market with the potential to match China in the next decade, admitted to analysts and investors on Thursday that the company’s growth in the second- most populous nation remained flat in the quarter ended September. Read more
The mystery around short-term capital gains tax data
The latest set of tax data shows a persistent oddity when it comes to short-term capital gains tax. Around 97.8 per cent of the taxpayers recorded zero short-term capital gains tax in 2016-17. The 1.1 million who have recorded any short-term capital gains tax account for only around one-sixth of active clients and one-tenth of the demat accounts in existence at the time. Read more
Soft oil, US-China talks boost stocks
The rupee and bonds recovered sharply and equity indices rallied on Friday, as oil prices softened after Saudi Arabia warned of an oversupply. Read more
Banks allowed to raise credit of NBFC bonds
In a move that could provide some liquidity to cash-starved non-banking financial companies (NBFC), the Reserve Bank of India (RBI) on Friday allowed banks to enhance credit to bonds issued by the systemically important NBFCs and housing finance companies (HFCs). Read more
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