HT Image
HT Image

Indian industry gives thumbs up to Budget

Industry and investment bankers, post the budget, say the Finance Minister has done a "fantastic" job.
By HT Correspondent | PTI, New Delhi
UPDATED ON MAR 01, 2008 01:16 AM IST

The Indian industry and investment bankers on Friday gave a thumbs up to the Union Budget, saying Finance Minister P Chidambaram has done a "fantastic" job.

"Budget is on the expected lines and the industry has not been penalised although we are disappointed that the corporate tax has not been changed," apex industry body CII's President Sunil Mittal said.

"Corporate tax are at fair levels. An increase of five per cent on short-term capital gains will make people hold for medium term," Kotak Mahidra Bank Managing Director Uday Kotak said.

Industrialist Sajjan Jindal, Vice-Chairman and MD of JSW Steel said: "This is a mixed budget and the FM has not touched upon the corporate tax, which we were anticipating. The focus is on agriculture and education sector." Although there is a little disappointment on not meeting the concerns on iron ore conservation and the taxes imposed on chrome ore export are also a long-pending demand of ours, which is a welcome step, he added.

SHARE THIS ARTICLE ON
Close
The EPFO has decided it will pay an 8.5% interest on deposits based on the current position of earnings and deposits of the organisation.(File photo)
The EPFO has decided it will pay an 8.5% interest on deposits based on the current position of earnings and deposits of the organisation.(File photo)

EPFO retains 8.5% interest on EPF deposits: Here's how it is calculated

By hindustantimes.com | Edited by Mallika Soni
PUBLISHED ON MAR 04, 2021 07:22 PM IST
  • Here’s how you can calculate the EPF interest
Close
Square, Inc. says it has reached an agreement to acquire majority ownership of Tidal, the music streaming service partly owned by Jay-Z.(Greg Allen/Invision/AP)
Square, Inc. says it has reached an agreement to acquire majority ownership of Tidal, the music streaming service partly owned by Jay-Z.(Greg Allen/Invision/AP)

Square to pay $297 mn for majority stake in Jay-Z's Tidal, appoint him to board

Posted by Kunal Gaurav | Bloomberg
PUBLISHED ON MAR 04, 2021 07:09 PM IST
Jay-Z acquired Tidal for $56 million in 2015 and announced plans to turn it into the first artist-owned streaming service.
Close
FILE PHOTO: A logo of WhatsApp is pictured on a T-shirt worn by a WhatsApp-Reliance Jio representative during a drive by the two companies to educate users, on the outskirts of Kolkata, India, October 9, 2018. Picture taken October 9, 2018. REUTERS/Rupak De Chowdhuri/File Photo(REUTERS)
FILE PHOTO: A logo of WhatsApp is pictured on a T-shirt worn by a WhatsApp-Reliance Jio representative during a drive by the two companies to educate users, on the outskirts of Kolkata, India, October 9, 2018. Picture taken October 9, 2018. REUTERS/Rupak De Chowdhuri/File Photo(REUTERS)

WhatsApp adds voice and video calling feature to desktop version

Posted by Harshit Sabarwal | Reuters
PUBLISHED ON MAR 04, 2021 06:12 PM IST
The move to facilitate calls over large screens would put WhatsApp on par with video-conferencing bigwigs Zoom and Google Meet, but it is not clear if it has ambitions to compete with the two in the enterprise space.
Close
Meanwhile US crude oil inventories dropped by 1.7 million barrels in the week to Jan. 1 to 491.3 million barrels, data from industry group the American Petroleum Institute showed late on Tuesday.(Reuters file photo)
Meanwhile US crude oil inventories dropped by 1.7 million barrels in the week to Jan. 1 to 491.3 million barrels, data from industry group the American Petroleum Institute showed late on Tuesday.(Reuters file photo)

OPEC+ debates whether to raise or freeze oil output as price recovers

Reuters, Dubai/moscow
PUBLISHED ON MAR 04, 2021 05:54 PM IST
OPEC+ cut output by a record 9.7 million bpd last year as demand collapsed due to the pandemic.
Close
The Stoxx 600 Index slipped 0.7%, dragged lower by miners as gold held near a nine-month low. S&P 500 and Nasdaq 100 contracts declined though were off their session lows, spurred by the 10-year Treasury yield approaching 1.5% on Wednesday and rising inflation expectations.(AFP)
The Stoxx 600 Index slipped 0.7%, dragged lower by miners as gold held near a nine-month low. S&P 500 and Nasdaq 100 contracts declined though were off their session lows, spurred by the 10-year Treasury yield approaching 1.5% on Wednesday and rising inflation expectations.(AFP)

Inflation rise expectation, long-term borrowing show US markets at risk

Bloomberg
PUBLISHED ON MAR 04, 2021 04:56 PM IST
In an appearance at a Wall Street Journal webinar later today, Powell is expected to say the central bank will be ultra-patient in pulling back its support for the economy after the pandemic has ended.
Close
The European Commission is proposing binding pay transparency legislation to help close a pay gap that sees women paid 14.1% less than men across the 27-nation bloc. REUTERS/Francois Lenoir/File Photo(REUTERS)
The European Commission is proposing binding pay transparency legislation to help close a pay gap that sees women paid 14.1% less than men across the 27-nation bloc. REUTERS/Francois Lenoir/File Photo(REUTERS)

Employers may be barred from asking about candidates’ pay under new EU rules

Bloomberg
UPDATED ON MAR 04, 2021 04:54 PM IST
  • “Previous pay has no bearing on skills and the abilities of the applicant for work and that’s why we believe this must not be revealed if the employee does not want to.” EU Equality Commissioner Helena Dalli said.
Close
FILE PHOTO: An Apple logo hangs above the entrance to the Apple store on 5th Avenue in the Manhattan borough of New York City, July 21, 2015. REUTERS/Mike Segar/File Photo/File Photo(REUTERS)
FILE PHOTO: An Apple logo hangs above the entrance to the Apple store on 5th Avenue in the Manhattan borough of New York City, July 21, 2015. REUTERS/Mike Segar/File Photo/File Photo(REUTERS)

Apple faces UK antitrust investigation into App Store

Posted by Harshit Sabarwal | Bloomberg
UPDATED ON MAR 04, 2021 04:26 PM IST
The Competition and Markets Authority said it plans to investigate Apple’s potentially “dominant” position in the supply of apps on iPhones and iPads.
Close
The change in Indian FDI regulations came against the backdrop of reports that Chinese firms were eyeing the acquisition of Indian companies hit by a fall in their valuation amid the economic slowdown.(Mint)
The change in Indian FDI regulations came against the backdrop of reports that Chinese firms were eyeing the acquisition of Indian companies hit by a fall in their valuation amid the economic slowdown.(Mint)

FDI rises 40 per cent to $51.47 billion in April-December 2020-21: Govt data

Posted by Harshit Sabarwal | PTI
PUBLISHED ON MAR 04, 2021 04:21 PM IST
India has attracted 22 per cent higher FDI inflow (including re-invested earnings) of USD 67.54 billion during the first nine months of the current fiscal as against USD 55.14 billion in the same period of 2019-20.
Close
The 10-year rule is applicable to jobs paying up to 50,000 rupees a month(Sanjeev Verma/ Hindustan Times)
The 10-year rule is applicable to jobs paying up to 50,000 rupees a month(Sanjeev Verma/ Hindustan Times)

Haryana's new hiring rule spells 'investment disaster', industry body warns

Reuters, New Delhi
PUBLISHED ON MAR 04, 2021 04:21 PM IST
  • Haryana's rule affects firms including India's biggest carmaker Maruti Suzuki and business process outsourcing firms such as Genpact.
Close
Representational image. (Getty Images/iStockphoto)
Representational image. (Getty Images/iStockphoto)

EPFO cheers working class by keeping interest rates on PF unchanged at 8.5%

By Zia Haq
PUBLISHED ON MAR 04, 2021 03:39 PM IST
According to prevailing EPFO norms, at least 12% of an employee’s basic salary is compulsorily deducted to be saved in provident fund, while an employer co-contributes another 12%
Close
Tesla CEO Elon Musk.reuters(MINT_PRINT)
Tesla CEO Elon Musk.reuters(MINT_PRINT)

The metal that worries Tesla most is getting much cheaper

Bloomberg
PUBLISHED ON MAR 04, 2021 03:38 PM IST
Elon Musk said in February that nickel was Tesla’s top concern for scaling lithium-ion cell production and was behind a shift to using iron for some EV batteries instead.
Close
However, 12 of the 14 major nifty sub-indexes finished Thursday's session in the red.
However, 12 of the 14 major nifty sub-indexes finished Thursday's session in the red.

Sensex, Nifty snap three-day rally as metals, financials slide

Posted by Harshit Sabarwal | Reuters
UPDATED ON MAR 04, 2021 04:10 PM IST
Indian shares had recovered from the previous week's sell-off at the start of the week, thanks to positive news around the country's Covid-19 vaccination drive and upbeat domestic economic growth data.
Close
Apple said the feature will not remove anything from the iCloud Photo Library.(File photo for representation)
Apple said the feature will not remove anything from the iCloud Photo Library.(File photo for representation)

Apple now lets you automatically transfer images from iCloud to Google Photos

ANI, Washington
PUBLISHED ON MAR 04, 2021 03:19 PM IST
Apple said that the transfer will take between three days to a week.
Close
WhatsApp helpline is now functional in all the 138 regional offices of EPFO.(HT File Photo)
WhatsApp helpline is now functional in all the 138 regional offices of EPFO.(HT File Photo)

EPFO keeps interest rates on provident fund deposits unchanged at 8.5%

By hindustantimes.com | Written by Kanishka Sarkar
UPDATED ON MAR 04, 2021 03:32 PM IST
According to the latest report released by the National Statistical Office (NSO), net new enrolments with retirement fund body EPFO stood over 1.25 million in December, up from 870,000 in November 2020.
Close
Lufthansa shares fell as much as 3.2% and traded 2.1% lower at 12.52 euros as of 9:23 a.m. in Frankfurt, paring gains this year to 16% after the stock lost a third of its value in 2020.(Reuters file photo)
Lufthansa shares fell as much as 3.2% and traded 2.1% lower at 12.52 euros as of 9:23 a.m. in Frankfurt, paring gains this year to 16% after the stock lost a third of its value in 2020.(Reuters file photo)

Lufthansa sees delayed recovery after $8.1 billion record loss

Posted by Harshit Sabarwal | Bloomberg
PUBLISHED ON MAR 04, 2021 02:11 PM IST
Deutsche Lufthansa AG posted a record 6.7 billion-euro ($8.1 billion) annual loss and said it will take longer than previously anticipated to achieve a full recovery from the coronavirus crisis.
Close
SHARE
Story Saved
OPEN APP