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HindustanTimes Mon,14 Jul 2014

Business

IIP signals economy on revival path, budget to help: India Inc

India Inc on Saturday said the sharp rise in industrial output in May is a sign the economy is on the road to recovery and expects the rebound to sustain on the back of policy measures unveiled in the maiden budget of the Narendra Modi-led government.

Gold extends gains on global cues; silver end steady

Continuing its rising streak for the fourth consecutive day, gold prices gained another Rs. 50 to trade at Rs. 28,730 per ten gram in the national capital on Saturday, taking positive cues from overseas markets amid persistent buying by stockists.

Introducing GAAR on NDA government’s radar

The confusion over GAAR surfaced once again after the government in a response to a question raised in Parliament on Friday said that GAAR will be implemented at the start of the next financial year.

Doubling of tax on debt mutual funds to hit retirees

On Thursday, finance minister Arun Jaitley gave investors and the mutual fund industry a jolt by increasing the long-term capital gains tax on debt mutual funds to 20% from 10%. The definition of long-term has also been changed to 36 months for non-equity MFs from 12 months.

GST enters final leg; may stretch to 2016-17

One of India’s biggest tax reform initiatives, goods and services tax, has entered the final leg with most the contentious issues expected to be ironed out this year, but experts said its implementation schedule may still be pushed to the 2016-17.

UPA regime responsible for Nokia plant troubles: TN Govt

Tamil Nadu Government on Friday blamed previous UPA regime for the troubles faced by Nokia's Chennai plant which was kept out of Microsoft acquisition pact in the wake of Rs. 21,000 crore tax dues raised by the I-T Department.

L&T set to bag deal to build statue of unity

Bids for the project were opened on Friday and sources told HT that L&T emerged as the lowest bidder with a cost of Rs. 2,980 crore. The statue would be the tallest in the world and almost double the size of the Statue of Liberty in the US.

Modi leads team to BRICS summit

Business leaders are hoping that Prime Minister Narendra Modi’s presence in the BRICS summit in Brazil on July 14 and 15 will help boost India’s business opportunities in the other four countries.

Budget 2014: Narendra Modi faces pressure from credit agencies, markets

Prime Minister Narendra Modi is under pressure to perform on the economy after a budget packed with ambitious targets met mild scepticism from investors and credit-rating agencies and failed to dispel the latent risk of a downgrade. Modi's 'thank you, voter' budget has ideas from his poll campaign

IIP signals economy on revival path, Budget to help: India Inc

India Inc on Friday said the sharp rise in industrial output in May is a sign the economy is on the road to recovery and expects the rebound to sustain on the back of policy measures unveiled in the maiden budget of the Modi government.

Industrial production rises to 19-month high of 4.7% in May

India’s factory output grew by the 4.7% in May, the fastest in 19 months, rekindling hopes of an industrial rebound buoyed by a robust manufacturing sector, latest data released on Friday showed.

Infosys Q1 net up 21.6%; attrition rate at 19.5%

India's second largest software exporter Infosys has beaten estimates to report a 13.3% rise in net revenue at Rs. 12,770 crore and 21.6% rise in net profit at Rs. 2,886 crore for the first quarter of 2014-15 on year-on-year basis.

After budget-eve euphoria, thelet-down: Sensex plunges 348 pts

The benchmark Sensex on Friday plunged 348 points, or 1.4% to end at 25,024.35, its biggest weekly loss since December 2011, due to continued profit-booking in stocks that had rallied prior to the Budget on expectations of big-bang announcements and debt concerns in Portugal.

Rupee rebounds 26 paise to end at 59.93 against dollar

The rupee on Friday bounced back by 26 paise to end at 59.93 versus dollar as exporters and some banks sold the greenback, but steep losses in previous sessions forced the local currency to log its first weekly drop in three.

Boeing, Emirates finalise order for 150 airplanes worth $56 bn

Boeing and Emirates Airline have finalised an order for 150 777Xs airplanes for $56 billion at list prices.
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