BUSINESS
Reports on states' feedback for GST hikes 'purely speculative': Govt
According to a Ministry of Finance statement, a section of the media has reported that feedback has been sought from states regarding a suggestion for raising Good and Services Tax (GST) rates on as many as 143 items. Some reports have even carried the number and description of the items, the statement said, adding that the GST Council, in its 45th meeting, had formed a Group of Ministers (GoM) to look into the rationalisation of rates and its deliberations are ongoing.
Twitter soars after commentariat scents imminent Musk takeover
Earlier this month, Musk offered to buy Twitter for $54.20 a share, or about $43 billion. Twitter's board of directors met on Sunday to discuss Musk's financing plan. The board negotiated with Musk into the early hours of Monday, The New York Times said. Twitter shares fired up nearly 6 per cent in the afternoon, chiefly because of media speculation that the deal was expected after market close, if not sooner.
What next for Parag Agrawal with Elon Musk as Twitter boss
"Deeply proud of our teams and inspired by the work that has never been more important. I know this is a significant change and you're likely processing what this means for you and Twitter's future," Agrawal tweeted. He was set to address Twitter employees in a town hall on what this takeover means to them and allay their fears.
I hope my worst critics remain on Twitter: Musk
"I hope that even my worst critics remain on Twitter, because that is what free speech means," he tweeted. "And be my love in the rain," Musk added, posting from famous American poet Robert Frost's poem "A Line-storm Song" The tweet indicated that Musk has won against the Twitter board.
Elon Musk buys Twitter for $44bn, company to go private
Twitter announced late on Monday that it has entered into a definitive agreement to be acquired by an entity wholly owned by Musk for $54.20 per share in cash in a transaction valued at nearly $44 billion. Upon completion of the transaction, Twitter will become a privately-held company.
IMF agrees to extend its programme for Pakistan with rider
The decision was taken after consultations between Pakistan Foreign Minister Miftah Ismail and IMF Deputy Managing Director Antoionette Sayeh in Washington. However, the decision is pending to completion of some strict and difficult demands, which include cancelling subsidies on petroleum announced by former premier Imran Khan.
In record, Punjab makes payments of Rs 13K cr for wheat procurement
Lal Chand Kataruchak said this was the highest payment in the past decade. The minister said the total minimum support price (MSP) payments released this year were three times of what was paid last year (Rs 4,754.42 crore) by this date.
Extending losses from past week, equities settle low
Market participants are worried about the rising inflation besides the likelihood of monetary policy tightening in the US. Policy tightening, which essentially means rate hike, is a negative for the Indian market as investors typically prefer the US markets to accumulate higher returns.
India's journey towards a global economic power
For the first time in India's economic history its merchandise exports touched a record $418 billion in 2021-22, exceeding the government's target by about 5 per cent. The Department of Commerce had set a merchandise exports target of $400 billion for FY 2021-22, up from $292 billion in 2020-21. This feat was remarkable as export growth marked a 40 per cent increase over the previous year despite severe breakdown in logistics and labour supply due to the Covid-19 pandemic.
Swiggy to upskill delivery boys to become company employees
The programme, named "Step-Ahead" is aimed at giving an opportunity to those executives who want to move from their current flexible engagement with Swiggy to a dedicated, managerial role, the company said. "Swiggy has consistently maintained that our delivery executives are the backbone of our operations; and we are proud to enable an income opportunity for over 2.7 lakh women and men across the country," said Mihir Rajesh Shah, VP, Operations, Swiggy, in a statement.
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