BUSINESS
'Committee should examine truthfulness of Hindenburg report', Centre to SC
The government said in view of the unprecedented financial loss suffered by the investors and in view of the complexities involved in the subject which requires urgent consideration, a fact-finding exercise requires to be undertaken as a one-time measure and a committee can be constituted with a former judge of the Supreme Court as its head.
Fund allocation for MGNREGA has not gone down: Nirmala Sitharaman
Addressing a post-budget press conference here, Sitharaman said: "Budget time allocation is one thing... and the scheme itself is a demand-driven scheme, as and when demand increases, we provide funds for it. This has been done in the past years since 2014."
Tax discrepancies found during survey at BBC premises, says I-T Department
During the course of the "survey", the department gathered evidence pertaining to the operation of the organisation (BBC) which indicate that tax has not been paid on certain remittances, which have not been disclosed as income in India by foreign entities of the group. it said.
2023 could witness milder global slowdown, says RBI report
In its monthly bulletin for the month of February which was released on Friday, the central bank said: "In India, domestic consumption and investment stand to benefit from stronger prospects for agricultural and allied activities, strengthening business and consumer confidence, and strong credit growth."
'Need full transparency', SC's no to Centre's sealed cover suggestion on Hindenburg-Adani row
A bench headed by Chief Justice D.Y. Chandrachud said the court will select experts and maintain full transparency, and if the court were to take names suggested by the central government then it would amount to a government constituted committee. The bench, also comprising justices P.S. Narasimha and J.B. Pardiwala, said the court wants.
Global fintech investment nosedives in 2022, payments space shows top growth
Payments space remained the strongest fintech sub-sector globally, attracting $53.1 billion in total investment, according to KPMG's 'Pulse of Fintech H2-2022' report. The sharp drop-off in fintech investment between the first half of 2022 and the second half -- from $119.2 billion to $44.9 billion -- highlights the rapidly shifting market conditions much more clearly.
US sues Terraform, its founder with defrauding investors in mega crypto fraud
According to the SEC's complaint, from April 2018 until the scheme's collapse in May 2022, Terraform and Kwon raised billions of dollars from investors by offering and selling an inter-connected suite of crypto asset securities, many in unregistered transactions. According to the SEC's complaint, Terraform Labs and its co-founder Do Kwon "perpetuated a fraudulent scheme.
Lenovo logs $400 mn quarterly revenue across portfolios in India
With total revenue of over $400 million across all Lenovo portfolios in India in Q3, the company continues to see good growth in the country. We are committed to investing in capability building to deliver for our customers beyond end-point devices and achieve our service-led transformation objectives with a broad suite of pocket-to-cloud offerings.
After power tariff hike, SL Prez allows relief for some with $100 mn Indian credit line
President Wickremesinghe has issued a directive to the Power and Energy Minister and the state-run power supplier, Ceylon Electricity Board (CEB) to provide concessions to low-income groups against the major tariff hike for electricity. He also has instructed to provide solar rooftop systems for the places of religious worship, state-run schools and vocational training.
Steel production to be doubled to 300 MT per annum by 2030: Scindia
Addressing the Global Zinc Summit, he said that the Indian Railways and Steel Authority of India Ltd (SAIL) are working together to produce corrosion free steel. "With anti-corrosion features and quality to prevent oxidation in steel products, zinc has tremendous marketing potential for sectors like renewable energy and rural electrification.
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