BUSINESS
Cryptocurrency transactions to come under money laundering provisions: Govt
This was announced through a gazette notification, issued on March 7. The step has been taken to tighten misuse of digital assets. Government in the gazette has warned investors against "participation in and provision of financial services related to an issuer's offer and sale of a virtual digital asset".
Gold demand in India in Feb improved: WGC
According to WGC, the unchanged custom duty in the Union Budget also bolstered wholesale restocking. Anecdotally, official gold imports are expected to rise in February following the anaemic 28-month low in January of just 11 ton. Anecdotally, official gold imports are expected to rise in February following the anaemic 28-month low in January of just 11 ton.
Gold demand in India in Feb improved: WGC
According to WGC, the unchanged custom duty in the Union Budget also bolstered wholesale restocking. Anecdotally, official gold imports are expected to rise in February following the anaemic 28-month low in January of just 11 ton.Improved market sentiment bumped local prices back into premium.
Women-led startup share exceeds 8% in Indian tech industry
Out of the 2,200 women-led startups in India that have received funding, 36 per cent have progressed to the Series A stage, and 24 per cent have gone on to Series D stage or beyond, according to Tracxn, a leading market intelligence platform. The number of active investors investing in women-led startups has seen a steady increase since 2010, with a sharp year-on-year jump of 42 per cent in 2021, the findings showed.
US big businesses support President Biden's price cuts in rare gesture
Just weeks after Biden used the State of the Union address to call for crackdowns on insulin prices - which he had reduced to $35 a dose in his inflation reduction act last year - and "junk fees", Corporate America, a handful to start with, has started heeding to his appeal to ease the consumer pain, media reports said.
Air India CEO calls for concerted efforts to curb rising cases of unruly passenger behaviour
Recently, Wilson had informed that incidents surrounding unruly behaviour by inebriated passengers are quite frequent, adding that the airline has now got strict and is reporting all such cases of unruly behaviours. Wilson had said that the airline has learnt lessons and it could have reacted better to the issues surrounding the 'peeing' incident which occurred in November last year.
Russia-EU trade grows 2.3% in 2022
Exports of goods from Russia to the EU in 2022 increased by a quarter and reached 203.4 billion euros, 230 million less than the historical maximum in 2012 (203.6 billion euros). In the meantime, exports from the EU to Russia fell by about 38 per cent to 55.2 billion euros, the lowest since 2005. This did not affect the fact that total trade turnover between the EU and Russia grew by 2.3 per cent over the previous year to 258.6 billion euros.
Interest rates likely to go higher than Fed previously anticipated: Powell
"The latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated," Powell said in remarks prepared for delivery before the Senate Banking Committee, Fox Business reported. "If the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes," he said.
Delhi court sends businessman Arun Pillai to ED custody till March 13
The ED had arrested Pillai late on Monday after questioning him for hours in the case. His arrest makes up for the eleventh arrest made in the matter by the ED. Pillai was representing the "South Group" which allegedly gave kickbacks of Rs 100 crore to Aam Aadmi Party leaders which were allegedly used in Goa elections.
Cess, surcharge collections rose 133% between FY'18 and FY'23
Cess and surcharges are levied by the Central government for the purposes of the Union under Article 271 of the Constitution of India. The proceeds of such surcharge and cess go towards meeting certain specific needs such as financing of centrally-sponsored schemes.
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