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Top 10 biz headlines: Indian cos step up dollar-raising, Voda Idea Q3 loss

The Income-Tax Department has identified at least 50 central and state PSUs to be covered under the Vivad se Vishwas Bill

BS Web Team 

Vodafone Idea

scare: Indian firms step up dollar-raising as China goes slow

With Bharti Airtel’s subsidiary Network i2i raising $250 million from overseas markets, Indian would be raising a record $7.15 billion in less than two months, since the start of the calendar year, as global liquidity chases emerging market yields to compensate for the Chinese supply of bonds in times of a scare. Adani Transmission recently raised $310 million in the US private placement market by placing 30-year paper. Read here

I-T dept lines up Rs 1-trillion PSU tax row under 'Vivad se Vishwas Bill'

Responding to the Vivad se Vishwas Bill introduced in the Lok Sabha earlier this month, the Income-Tax Department has identified at least 50 central and state public sector undertakings (PSUs) to be covered under the litigation settlement scheme. These state-run firms have been embroiled in legacy tax rows involving an estimated disputed amount of Rs 1 trillion, according to sources in the know. Read here

Box office report: Indian cinema has a happy story in rising ticket sales

More tickets, more languages, and better scripts: That seems to be the story of the Indian box office, going by consulting firm Ormax Media’s Box Office Report 2019. Indians bought 1.03 billion movie tickets, spending Rs 10,948 crore last year, an increase of 11.6 per cent over 2018, when they had spent Rs 9,810 crore to buy 945 million tickets, the report says. Read here

Vodafone Idea posts Rs 6,439-cr Dec-quarter loss; subscriber base falls 21%

Vodafone Idea reported a consolidated loss of Rs 6,439 crore for the December quarter as compared with a Rs 5,005-crore loss in the same period in 2018-19. This is higher than analyst estimates, which had pegged the loss at Rs 4,000 crore, after being in the red by a record Rs 50,922 crore in the September quarter Read here

Harley-Davidson plans to ride on smaller bikes to pump up volumes

Harley-Davidson, whi­ch has half the market share in the 750 cc and above segment, is looking at launching smaller bikes over the next decade to enter segments that drive volumes in one of the largest two-wheeler markets in the world. Read here

Microsoft boss Satya Nadella to visit India later this month: Report

Microsoft Corp Chief Executive Officer Satya Nadella is planning to visit India later this month, multiple sources familiar with the plans told Reuters, a test for the Indian-born head who recently criticized Indian immigration policy. Read here

Thyssenkrup reports 364 mn euros loss in October-December quarter

German steel maker Thyssenkrupp on Thursday posted a net loss of 364 million euros for October-December due to increased interest expenses for financial debt and one-time expenses in connection with the elevator division which it seeks to sell. Read here

Our duty is to ensure fair competition, CCI tells Karnataka High Court

Counsel for the Competition Commission of India (CCI) and Delhi Vyapar Mahasangh (DVM) on Thursday defended the watchdog’s order to initiate a probe against e-commerce firms, including Amazon and Flipkart, in the Karnataka High Court. Amazon had moved high court challenging CCI’s order. Read here

No customs duty on imported solar cells and modules, says ministry

The Ministry of New and Renewable Energy (MNRE) clarified that the basic customs duty (BCD) on imported solar cells and modules would remain nil in the current financial year.

In this year's Union Budget, two new item heads were inducted in the customs duty bracket which pertained to solar cells and modules. The Budget proposed a 20 per cent BCD on solar equipment. However, these items will continue at ‘nil’ BCD,” according to the budget speech. Read here

First Published: Fri, February 14 2020. 07:59 IST
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