BUSINESS
CBIC streamlines process for De-notification of ICDs and CFSs
Accordingly, it had now been decided that such closure will be effected in a maximum period of four months. No timeline was specified earlier. ICDs and CFS play a vital role in the exim trade as they store and clear import and export goods. These facilities are notified under the Customs Act, 1962 and are administered by the Customs authorities.
Franklin Templeton's shut schemes now have Rs 1,981 Cr cash for distribution
The Trustee of Franklin Templeton decided to wind up six of our debt schemes in April 2020. The decision was taken because the markets had become illiquid due to the severe impact of Covid-19. Out of the Rs 1,981.02 crore available for distribution as of August 13, Franklin India Ultra Short Bond Fund has Rs 366.81 crore, Franklin India Short Term Income Plan has Rs 597.70 crore.
Retail sales in July stood at 72% of pre-pandemic levels
In June, the retail sales stood at 50 per cent of the pre-pandemic levels. In a statement, the retailers' body noted that retail businesses in the southern part of India have indicated a very sharp comeback in July 2021 with sales at 82 per cent of the pre-pandemic levels. The western region is yet to improve and has indicated sales at 57 per cent of pre-pandemic levels.
No change in petrol, diesel prices on Tuesday
Accordingly, in the national capital, petrol continued to be sold for Rs 101.84 per litre, while diesel is also being sold at the unchanged price of Rs 89.87 a litre. Across the country as well, fuel prices remained unchanged providing some relief to consumers already feeling the heat of higher inflation that has raised prices of several other commodities, including food items.
Sensex turns flat after scaling new high
The BSE Sensex has touched a new all-time high of 55,688.50 points and the Nifty50 has hits new high of 16,591.40 points. Healthy buying was witnessed in IT stocks, however, auto and banking stocks fell. Around 10.25 a.m., Sensex was trading at 55,600.58, higher by 18 points or 0.03 per cent from its previous close of 55,582.58.It had opened at 55,565.64 and a low of 55,415.63 points.
Gaming platform Zupee raises $30 mn at over $500 mn valuation
Dilsher Singh, Founder and CEO of Zupee, told IANS that the funds will be utilised to boost global footprint, innovate and expand its suite of games. "The Indian startup ecosystem is going through a great phase and this momentum is here to stay.
Bezos sues NASA over awarding Moon lander contract to Musk
The US space agency was expected to pick two lunar lander prototypes (including one of Blue Origin's) but funding cut from US Congress led the agency to select SpaceX over Blue Origin. According to a report in The Verge on Tuesday, a spokesperson for Blue Origin called the lawsuit "an attempt to remedy the flaws in the acquisition process found in NASA's Human Landing System".
India's wholesale price inflation sequentially eases to 11.16% in July
Accordingly, the annual rate of inflation, based on wholesale prices, rose to 11.16 per cent last month from 12.07 per cent in June. However, on a year-on-year (YoY) basis, the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry has risen exponentially over July 2020. The inflation rate had stood at (-)0.25 per cent in July 2020.
Petrol, diesel prices complete a month without any revision
Accordingly, in the national capital, petrol continues to be sold for Rs 101.84 per litre, while diesel is also being sold at the unchanged price of Rs 89.87 a litre on Monday. Across the country as well, fuel prices remained unchanged providing some relief to the consumers already feeling the heat of higher inflation that has raised prices of several other commodities including food items.
Sell only electric 2-wheelers in India post 2025, says Ola Chairman
In a blog after the launch of Ola's electric scooters, Aggarwal announced 'Mission Electric'. "We are taking this moment to announce 'Mission Electric', a pledge that no petrol two-wheeler will be sold in India after 2025. This is a mission that we are putting forward to the industry and to the consumers to reject petrol and fully commit to electric.
Don't Miss
Advertisement