Page 3362 - Business Finance
China blocks Micron sales amid U.S. trade tensions, chip battle
TAIPEI/SHANGHAI (Reuters) - A Chinese court has temporarily barred Micron Technology Inc from selling its main semiconductor products in the world's biggest memory chip market, citing violation of patents held by Taiwan's United Microelectronics Corp (UMC).
CBDT signs 3 more unilateral APAs with taxpayers
The Central Board of Direct Taxes (CBDT) has signed three more unilateral advance pricing agreements (APAs) in last two months as it looks to reduce litigation by providing certainty in transfer pricing. The unilateral APAs signed during the past couple of months pertain to consumer industry, automobile and precious stones & metals sectors. "The international transactions covered in the agreements pertain to provision of corporate guarantee, purchase of brand, availing of grading services, availing of management services and payment of royalty," CBDT said in a statement. With the signing of these agreements, the total number of APAs entered into by the CBDT has gone up to 223, which inter alia include 20 bilateral APAs, the official statement said. "The progress of the APA scheme strengthens the government's resolve of fostering a non-adversarial tax regime. The Indian APA programme has been appreciated nationally and internationally for being able to address complex transfer ...
Astron Paper sizzles after export order win
Astron Paper & Board Mill rose 4.59% to Rs 111.65 at 14:03 IST on BSE after the company received an export order worth Rs 12 crore for supply of kraft paper.
Australia Market falls 0.43% on banks, resources stocks
The uncertainty over trade policy was still hanging over markets. Many investors fear Washington will go ahead with its plan to impose tariffs on $34 billion worth of Chinese goods on July 6, which Beijing has vowed to match with tariffs on U.S. products, raising the risk of a full-blown trade war. The Trump administration was seen as keeping the U.S.-China tensions alive after late Monday saying it seeks to block China Mobile from operating in the U.S. market. The White House cited national security interests as the reason for refusing China Mobile access to the U.S.
Link all regulated market panels of Odisha with e-NAM: Pradhan
Union Petroleum Minister Dharmendra Pradhan on Wednesday urged Union Agriculture Minister Radha Mohan Singh to link all 66 Regulated Market Committees (RMCs) of Odisha with e-NAM platform.
Ex-eBay CEO Simon to drive Ola's operations in Australia
Ride-sharing taxi aggregator Ola on Wednesday appointed former eBay Chief Executive Simon Smith as Managing Director of Australia where it began its operations in January.
Volvo Cars launches XC40 in India at Rs 39.9 lakh
Swedish luxury car maker Volvo Cars today launched its entry level SUV XC40 in India at an introductory price of Rs 39.9 lakh. The new model XC40 R-Design, which will compete with the likes of Mercedes Benz GLA, BMW X1 and Audi Q3, is powered by a 2 litre diesel engine with 190 horse power. "The launch of XC40 and our aggressive dealer expansion of one new dealer per month this year are the key success factors in achieving our ambition of doubling segment share by 2020," Volvo Car India Managing Director Charles Frump told reporters here at the launch. Volvo Car India had sold a total of 2,029 units last year as against 1,585 units in 2016. He said the new model completes the portfolio of SUVs for Volvo Car in India, which includes the top end XC90 and XC60. "It is a particularly good time to enter the segment in India as it is the fastest growing with around 6,000 units a year," he added. When asked if the company would consider bringing a petrol variant of the XC40, Frump said,"We ..
Global Markets: Trade war worries drag world stocks lower, yuan steadies
LONDON (Reuters) - World stocks were dragged lower on Wednesday by growing anxiety ahead of Washington's end of week deadline to impose tariffs on Chinese imports, while the yuan rebounded after China's central bank moved to calm investors.
Exclusive: Japan's Inpex delays output from giant offshore gas project in Australia
TOKYO (Reuters) - Japan's Inpex Corp has delayed gas production from its giant Ichthys field off the coast of Australia just weeks after giving assurances that output would start imminently.
UK economy gains speed, raising chance of Bank of England rate rise - PMI
LONDON (Reuters) - Britain's large services industry grew last month at its fastest rate since October, a survey showed on Wednesday, suggesting the economy might be strong enough for the Bank of England to raise interest rates next month.
Oil price biggest risk for Indian economy: Moody's survey
A majority of Indian and foreign investors consider that high oil prices have emerged as a significant risk to the country's economy, Moody's Investors Service said on Wednesday.
China's yuan gains on PBOC's calming words, stock markets unconvinced
SHANGHAI (Reuters) - China's yuan rose sharply against the dollar on Wednesday, a day after the central bank assured markets it would keep the currency stable amid heightened worries about trade frictions, although stocks fell.
Bank of China to operate in India, RBI issues license
The Reserve Bank of India on Wednesday issued licence to Bank of China to operate in India, according to sources.According to reports, the decision was based on the commitment made by Prime Minister Narendra Modi to the Chinese leadership.Following this, the 106-year-old Bank of China will open a branch in India.Last month Prime Minister Narendra Modi met Chinese President XiJinping ahead of the Shanghai Cooperation Organization (SCO) Summit in Qingdao, China. During the meeting, they discussed the issues of security, economic cooperation and people-to-people exchanges.The Bank of China (BoC) opened its first branch in South Asia in Pakistan's Karachi last year.
IT Dept. expedites clearance of pending issue of refunds
The Income Tax Department on Wednesday notified that processing of more than 99 percent of refund under the income-tax returns has been cleared with effect and rectification."More than 20,000 such matters were disposed of and refunds were issued to the taxpayers, wherever due," stated the Income Tax Department.The Income Tax Department observed a dedicated fortnight from 1st to 15th June, 2018 to expeditiously clear pending matters of appeal effect and rectification."Seeing the success of this initiative, the special drive was extended in certain regions up to 30th June, 2018," added the statement.Further, large amounts of refunds have also been issued consequent to processing of income-tax returns. More than 99 percent of all refund claims pending for processing as on 30.06.2018 have already been processed and the refunds due have been issued to the taxpayers.In all, refunds in 45.07 lakh cases have been issued during April-June, 2018, which is 9.0 lakh more than the refunds issued ..
Market extends gains
Stocks extended gains and hit fresh intraday high in afternoon trade. At 13:16 IST, the barometer index, the S&P BSE Sensex, was up 132.38 points or 0.37% at 35,443.06. The Nifty 50 index was up 31.90 points or 0.3% at 10,731.80. Shares of index heavyweights HDFC and Reliance Industries gained.
Euro zone business activity brighter in June but clouds linger - PMI
LONDON (Reuters) - Euro zone business activity nudged up slightly faster than previously thought last month but firms were at their gloomiest since late 2016, offering little hope for a more robust rebound, a survey showed.
China's HNA Group Chairman Wang dies after fall in France
BEIJING (Reuters) - Wang Jian, co-chairman and co-founder of HNA Group, one of China's most acquisitive conglomerates, died during a business trip in France on July 3 after a serious injury caused by a fall, the group said in a statement on Wednesday.
Pakistan attractive for investments after CPEC: President
Pakistan has become attractive for investments in multiple sectors after the launch of the China-Pakistan Economic Corridor (CPEC), President Mamnoon Hussain has said.
Key Indian equity indices trade higher in afternoon session
After opening on a flat note, the key Indian equity indices were trading in green on Wednesday afternoon.