BUSINESS
Proposed US capital gains tax could drive up FII investments in India's indices
This tax, if implemented, will leave very little incentive for massive US funds to stay invested in the American markets, thereby, triggering an inflow into emerging economies such as India. Lately, high return from domestic stocks on the back of faster than anticipated economic recovery has driven in over $22 billion into the local markets. This trend will get supplemented by the proposed US tax.
India to harvest record 303.34 mn tonnes foodgrain: Estimate
Union Agriculture and Farmers' Welfare Minister Narendra Singh Tomar said the record production of foodgrains clearly outlines the tireless hard work of farmers, research by agricultural scientists, and farmer-friendly policies of the Central government.
SC sets aside NCDRC order of liability on Tata Motors for defective car
The Supreme Court has set aside a National Consumer Disputes Redressal Commission (NCDRC) order, which imposed a liability on Tata Motors for sale of a defective two-year-old car by one of its dealers to a customer.
Embargo lifted on pvt banks to conduct govt business
With the permission, all banks would be allowed to conduct government-related banking transactions such as taxes and other revenue payment facilities, pension payments, small savings schemes, etc. This step is expected to further enhance customer convenience, spur competition and higher efficiency in the standards of customer services, a government statement announcing the changes said.
Airtel enters advertising business with Airtel Ads
"Advertising is an adjacency to our core business of delighting our customers with great services. Therefore, we combine the privacy that is paramount to our customers with the trust and transparency that is vital to the brands we serve," Nair added.
Consumer gold demand in India set to recover in 2021: WGC Report
Lower customs duty and recovering demand may allow official imports to gain strength at the cost of unofficial imports, although the 14.07 per cent duty continues to make the grey market attractive, the report said. Further, as per WGC, the gold industry in India has reacted positively to the recent budget announcements.
Twitter CEO Dorsey's Square firm invests $170M in Bitcoin
Dorsey's company purchased about 3,318 bitcoins at an average price of $51,236, the company disclosed in its quarterly earnings report on Tuesday. The announcement has come at a time when the Bitcoin value has surged dramatically over the past few months, setting new records. The current price of a single bitcoin is just under $50,000.
Gail to be excluded from Nifty50
The Index Maintenance Sub-Committee (IMSC) of NSE Indices decided to make the changes, as part of its periodic review. In Gail's place, Tata Consumer Products will be included in the index from March 31, 2021. Besides, the changes will be effected in Nifty Next50, Nifty500 amongst others.
Foodgrain production rose over 18% in past 5 years: Tomar
Expressing satisfaction on the rising production of pulses in the country, Tomar stressed the need of more focus to increase their production or self-reliance. He urged the states to ensure farmers get Minimum Support Price for their crops.
India's economic recovery in consolidation phase: ICRA
The agency said after the broad-based improvement seen in December 2020, the year-on-year (YoY) performance of a majority of the early available economic indicators recorded a loss of momentum in January 2021, relative to the previous month.
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