BUSINESS
Japan supermarket sales drop for first time in 8 months
According to the Japan Chain Stores Association, sales at major stores across the country totaled about 1 trillion yen ($7 billion) last month, down 2 per cent in yen terms from the previous year, reports Xinhua news agency. Food sales, accounting for nearly 70 per cent of the total, fell 1.7 per cent, the association said, while sales of clothing and cosmetics rose as people went out more as the Covid-19 pandemic subsides.
Finance bill proposes hike in securities transaction tax on options & futures trading
This will lead to those trading in futures and options (F&O) paying higher STT. In a way, the move is likely to discourage F&O traders, as government aims to tax them more since turnover is high in such transactions.
Ashneer Grover launches fantasy sports app CrickPe ahead of IPL
"Biggest revolution in Cricket since IPL - only fantasy game paying cricketers for performance. Where you win, cricketer wins, cricket wins," Grover said in a tweet. CrickPe will levy a 10 per cent platform fee of the total funds received for any public or private contest. It allows players above 18 years of age o create a virtual team.
Hindenburg Research now targets Jack Dorsey, Block co-founder's net worth drops by 11%
According to the Bloomberg Billionaires Index, Dorsey's fortune decreased by $526 million on Thursday, resulting in his worst single-day decline since May. With an 11% drop, Dorsey's net worth now stands at $4.4 billion. Hindenburg's report accused Block of inflating user metrics and claimed that the stock had a downside of 65% to 75% "on a purely fundamental basis.
Russian economy returns to growth: PM
Last year was a "difficult adaptation period," Mishustin added on Thursday while delivering the government's annual report to the State Duma, the country's lower house of parliament, Xinhua news agency reported. Let's be realistic -- external pressure is unlikely to ease. Nevertheless, we expect that as early as in 2024, the period of.
Develop mechanism for online audit of GST: Parliamentary Panel on Finance
The Parliamentary Standing Committee on Finance in its report on demands for grants for Finance Ministry's Revenue Department, which was presented in Parliament on Thursday, has recommended that government should prepare a white list of documents that would be necessarily required for conducting an audit and would thus become a guidance note for the officers as well as the assessees.
New capital gains tax rules to come into effect from April 1
From April 1, converting physical gold to electronic gold receipts won't be considered as a transfer and therefore will not attract any capital gains tax. Similarly converting electronic gold receipt to physical gold also will not attract any capital gains tax. Electronic gold receipts are depository gold receipts that can be traded on the stock exchanges.
Credit Suisse bailout creates a bank twice the size of Swiss economy
Worries that Credit Suisse's downfall would spark a broader banking meltdown left Swiss regulators with few good options, CNN reported. A tie-up with its larger rival, UBS, offered the best chance of restoring stability in the banking sector globally and in Switzerland, and protecting the Swiss economy in the near term.
Jack Dorsey-run Block misleads investors, facilitates fraud: Hindenburg Research
Block, formerly known as Square, is a $44 billion market cap company that claims to have developed a "frictionless" and "magical" financial technology with a mission to empower the "unbanked" and the "underbanked". "Our 2-year investigation has concluded that Block has systematically taken advantage of the demographics it claims to be helping," said Hindenburg Research in its report, taking its latest short position on Block.
Offer for sale of Hindustan Aeronautics Limited's shares gets good response
A tweet by the department of investment and public asset management (DIPAM), said, "Offer for Sale of Govt shares in HAL got great response on day one. Issue subscribed 4.5 times of base size at a clearing price above the floor price by non-retail investors. Govt has decided to exercise the green shoe option. Retail investors get chance to bid tomorrow."
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