Fuel Prices Surge in Karnataka: Petrol Up by Rs 3/Litre, Diesel by Rs 3.50
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The new prices came into effect from Saturday noon, catching the vehicle owners unawares. The notification was issued by Nithish. K., Joint Secretary of the Finance Department of the Government of Karnataka.
Karnataka govt promulgates ordinance to impose 28% tax on online gaming
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The additional tax will also be imposed on racecourses, and casinos following the consent of Governor Thawarchand Gehlot.
Foxconn investment proposal cleared by Karnataka high-level committee
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The Large and Medium Industries Ministry statement said that Foxconn Hon Hai Technology India Mega Development Private Ltd (FHH) would invest Rs 8,000 crore with employment opportunities for 50,000 people. A delegation led by Foxconn CEO and Chairman Young Liu visited the state and held a meeting with Chief Minister Basavaraj Bommai a fortnight ago in Bengaluru.
Foxconn Group announces investment project in Karnataka
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Land of 300 acres for the project has been identified near the Bengaluru International Airport, in Doddaballapura and Devanahalli taluks. A Foxconn team, led by CEO and Chairman Young Liu, and comprising 16 senior leaders reached Bengaluru on Friday and were welcomed at the airport by IT and BT, Science and Technology, and Skill Development Minister C.N. Ashwath Narayan.
PM Modi inaugurates Terminal 2 of Bengaluru International airport
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Karnataka Chief Minister Basavaraj Bommai, Union Minister for Coal, Mines and Parliamentary Affairs Pralhad Joshi and others were present on the occasion. The Prime Minister Modi took a tour of the swanky Terminal 2, billed as garden terminal. He also flagged off the Vande Bharat express train and Bharat Gourav Kashi Darshan train.
Karnataka best for industries moving out of China, Europe: Nirmala Sitharaman
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"They are moving out to other destinations which are offering more than just tax incentives. Karnataka is the major job generator in the country. While contributing 8.8 per cent to the national GDP, whilst its population is just five per cent of total national population, 10 per cent of all formal jobs are created here," Nirmala Sitharaman explained.
Investment in India is about inclusion, democracy & safer planet, says Prime Minister
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Prime Minister Narendra Modimade the observation while inaugurating "Invest Karnataka" a three-day Global Investors Meet (GIM), under the theme "Build for the world" here. While participating virtually in the event, Prime Minister Modi emphasised that investment in India is about investment for a better, cleaner and safer planet. "Let us all come forward to change crores of lives," he underlined.
Karnataka HC asks Xiaomi to furnish bank guarantee to operate seized accounts
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Taking up the petition by Xiaomi against the authorities, Justice N.S. Sanjay Gowda on Thursday stated that an interim order could only be given if the company gives bank guarantees for Rs 5,551.27 crore seized amount. The company had challenged the order passed by the competent authority under FEMA confirming the seizure order of the said amount. The seizure order was issued by the Enforcement Directorate (ED) on April 29.
Karnataka High Court permits Xiaomi India to take overdrafts, make payments
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Vacation Judge Justice S. Sunil Dutt Yadav on Thursday also extended the interim order till May 23 and stated that the matter is now between the banks and the petitioner company. The court had given conditional stay on the order given by the Enforcement Directorate (ED) on April 29 to seize a whopping Rs 5,513.3 crore amount. The ED has taken the step after invoking the Foreign Exchange Management Act, 1999.
Karnataka puts brakes on decision to sell land to JSW Steel
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On April 26, the cabinet headed by Chief Minister B.S. Yediyurappa had decided to sell off a whopping 3,667 acres land to JSW Steel, a deal it had opposed in 2019 when it was in the opposition and the ruling Congress-JD(S) coalition government had favoured the lease-cum-sale agreement.
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