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Competition Commission has sought stakeholders' comments on draft leniency plus regulations that will offer incentives to companies already under probe for cartelisation for providing information about other cartels. As incentives, the entity giving information could get an additional reduction in monetary fine could be as much as 30 per cent with regard to the first cartel besides a reduction in penalty of up to 100 per cent in respect of newly disclosed cartels. The framework is designed to create an additional incentive for companies to cooperate with antitrust authorities in identifying and addressing cartel activities, ultimately promoting fair competition. The Competition (Amendment) Act, 2023 has introduced 'lesser penalty plus' and withdrawal of 'lesser penalty'/'lesser penalty plus' applications in the existing framework, to incentivise an existing LP applicant in respect of the first cartel to give full, true and vital disclosures about a second cartel unknown to the ...
Foreign companies operating in China say tensions with Washington over technology, trade and other issues and uncertainty over Chinese policies are damaging the business environment and causing some to reassess their plans for investing in the giant market. The results of surveys released Tuesday by the American Chamber of Commerce in Shanghai and by the European Union Chamber of Commerce in China largely concurred in appealing for greater certainty and clarity over China's stance toward foreign businesses. For decades, European companies thrived in China, benefitting from a stable and efficient business environment. However, after the turbulent past three years, many have reevaluated their basic assumptions about the Chinese market, Jens Eskelund, the EU Chamber's president said, in a letter that accompanied the report. Eskelund said that predictability and reliability had been undermined by erratic policy shifts, hurting confidence in China's growth prospects. At the top of a ...
Business optimism has turned positive on a year-on-year basis for the ongoing quarter after witnessing negative growth throughout 2020, amid rising consumer demand, higher businesses transactions and normalisation of supply disruptions, according to a survey. The Dun & Bradstreet Composite Business Optimism Index stood at 79.9 for the first quarter of 2021, registering an increase of 26.8 per cent as compared to the year-ago quarter. Five out of six optimism indices have registered an increase as compared to the first quarter of 2020. The latest survey was carried out in December and covered 350 chief executive officers and managing directors. "The survey data indicates a positive upturn in GDP growth during January-March 2021. The latest Index reflects the optimism generated from green shoots of economic recovery and the deployment of COVID-19 vaccines from January 2021," said Dun & Bradstreet Global Chief Economist Arun Singh. Singh further said the surge in optimism is also