Page 26 - Companies

Yamaha launches YZF-R3 at Auto Expo 2018

Greater Noida, Feb 09 (ANI): Japan's second-largest motorcycle maker, Yamaha launched its new BS-IV emission norms compliant YZF-R3 sports bike at India's binennial auto show near New Delhi on Friday. Bollywood actor John Abraham, Yamaha's face in India, attended the launch at the opening day of Auto Expo 2018 in the satellite city of Greater Noida. Yamaha had pulled YZF-R3 out of the Indian market in April 2017. Priced at nearly rupees 3.48,000, the Yamaha YZF-R3 offers dual channel ABS (anti-lock braking system) as standard, with the engine being paired to a 6-speed gearbox.

Asian markets in turmoil as Wall Street slides

New Delhi, Feb 09 (ANI): It's likely to be a dramatic end for markets in Asia on Friday, with stocks across the region taking a beating once again tumbling to two-month lows. Wall Street rounded off Thursday with deep losses, prompting traders in Asia to start a sell-off at the opening bell. Japan's Nikkei and Hong Kong's Hang Seng both down more than 3 percent and shares were also being pummeled in South Korea and Australia. By mid-morning, China's main indices fell by around 6 percent. Many analysts now say this volatility isn't a one-off, but could instead mark a month of swings and roundabouts.

Samsung Chairman named as suspect in 7.5 million dollar tax evasion case

New Delhi, Feb 9 (ANI): Chairman of one of the leading electronic appliances globally, Samsung, Lee Kun-hee has been named as a suspect in a 7.5 US million dollar tax evasion case by the South Korean police. The police accused Chairman Lee Kun-hee of misappropriating company's funds to renovate the family home from one of his employee's accounts. Lee Kun-hee is undergoing treatment in hospital due to his physical condition. He is hospitalized since 2014 after suffering a heart attack. His name in tax evasion comes barely a week after his son Jay Y. Lee was released after serving 5-year term after being convicted of bribing South Korea's former president.

3rd generation of Maruti Suzuki Swift makes its debut at Auto Expo 2018

Greater Noida, Feb 08 (ANI): Maruti Suzuki India, Managing Director and CEO Kenichi Ayukawa on Thursday rolled out its third generation of the 'All New Swift' with a dynamic robot design at Auto Expo 2018 in Greater Noida. Ayukawa asserted that the new automobile design had a sporty stance, a bold attitude and it captured the imagination for a superior life by the younger generation in a perfect manner. American motorcycle manufacturer, Cleveland CycleWerks (CCW) also made their foray into the Indian market as they launched 'Ace' and 'Misfit' generation of their bikes, best suited to the daily riders of the country. The Cafe racer motobike series aim to tap into the potential premium motorcycle market in India.

Inflation projected at 5.1-5.6% in the next fiscal: RBI Governor

New Delhi, Feb 07 (ANI): The Reserve Bank of India (RBI) on Wednesday revealed that the estimated inflation for first half of the next fiscal would stand at 5.1 to 5.6 percent. RBI Governor Urjit Patel said that it may ease to 4.6 percent, likely in the second half. Patel reiterated the Monetary Policy Committee's (MPC) commitment to keep headline inflation close to 4 percent on a durable basis. "The headline inflation for Q4 of this fiscal is estimated to be 5.1 percent, owing to upside risks involved in firming up of global crude oil prices, hardening of raw material prices and stronger pricing among firms. This is expected to move up 5.6 in the first half of the next fiscal. However, unwinding of the 7th central pay commission, normal monsoon, and adequate food supply management, inflation may ease to 4.6 percent, with risks tilted to upside," Patel said. The RBI Governor was addressing the media at a press conference in the national capital.

Wall Street bounces back, global markets stabilise

New Delhi, Feb 07 (ANI): After initially sliding, the Dow Jones industrial average closed up 567.02 points or 2.33 percent on Tuesday to 24,912.77, in its biggest jump. The S and P 500 gained 46.2 points to 2,695.14, recovering from the biggest one-day decline in the index in more than six years on February 5. The Nasdaq Composite too added 148.36 points, closing at 7,115.88. However, the Wall Street stock indexes repeatedly swung from positive to negative during Tuesday's trade. The Asian markets too came back from the brink, following a hefty bounce in the Wall Street.

Stocks, rupee weaken, bonds gain in line with global markets

Mumbai, Feb 06 (ANI): Indian shares slid more than 3 percent and the rupee weakened on Tuesday as a global market rout whacked sentiment, adding to existing investor concerns ahead of a central bank meeting this week and a new capital gains tax later in the year. The broader NSE Nifty and the benchmark BSE Sensex each fell as much as 3.7 percent, heading for a sixth consecutive session of falls, with both erasing their gains for the year. Meanwhile, the rupee retreated to 64.35/64.36 at 0455 GMT from its 64.07 close. But bonds gained as investors sought safe havens.

'We put standard deduction of Rs 40,000 to all salaried employees': CBDT Chairman

New Delhi, Feb 06 (ANI): Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra acknowledged salaried employees for being best tax payers. He also said that these salaried employees deserve better treatment. Chandra said, "Salaried employees are best tax payers and deserve better treatment. In personal tax category, 1.89 crore salaried employees gave Rs 1,48,000 crore and 1.88 crore business persons gave Rs 44,000 crore. So, we put standard deduction of Rs 40,000 to all salaried persons."

'Those earning Bitcoins would have to pay taxes,': CBDT

New Delhi, Feb 06 (ANI): Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra on Tuesday said that those who have earned Bitcoins will have to pay tax. He added that the source of income of the owners of Bitcoin will also be asked and if they don't pay tax, action will be taken against them. This virtual currency emerged in the aftermath of the financial crisis and allows people to bypass banks and traditional payment processes to pay for goods and services.

Fall in Indian market not due to Long Term Capital Gains Tax: Finance Secretary

New Delhi, Feb 05 (ANI): Finance Secretary to the Government of India, Hasmukh Adhia, on Monday said that dip in the Indian market is not because of Long Term Capital Gains Tax (LTCG), but because of global market going down. He said that it is unfortunate that the LTCG has been announced at a 'wrong time,' and cleared that it is the ripple effect of the world stock market going down on the Indian market and not due to the proposed LTCG as there is a strong connection of all markets.

CBDT responds to queries of taxpayers regarding long-term capital gains taxation

New Delhi, Feb 05 (ANI): Responding to frequent queries regarding taxation of long-term capital gains as proposed in the Finance Bill, 2018, the Central Board of Direct Taxes (CBDT) on Sunday gave answers in the form of Frequently Asked Questions or FAQs. This form is now available on the website www.incometaxindia.gov.in. The Finance Bill, 2018 proposes to withdraw the exemption under Clause (38) of Section 10 and to introduce a new Section 112A in the Income Tax Act, 1961, so as to provide that long-term capital gains arising from transfer of such long-term capital asset exceeding one lakh rupees will be taxed at a concessional rate of 10 percent. Since the introduction of the Finance Bill, 2018, on February 1, 2018, several queries have been raised in different fora on various issues relating to the proposed new tax regime for the taxation of long-term capital gains. The Central Board of Direct Taxes (CBDT) has issued in the form of has issued responses to these queries in the form

Government has decided to give correct price for farmers' produce: PM Modi on Union Budget 2018

Bengaluru (Karnataka), Feb 04 (ANI): While addressing 'Parivartan rally' in Bengaluru, Prime Minister Narendra Modi highlighted the benefits that Union Budget 2018 promises for welfare of the farmers. PM Modi assured that now farmers will get correct price for their produce. "In this budget, Government has made a significant decision so that farmers get correct price of crops." PM Modi further talked about the changes that former state chief minister Yeddyurappa can bring in lives of farmers, if elected as chief minister of the state. "If Yeddyurappa, son of a farmer, becomes CM of Karnataka, the projects for farmers will work at its best because Yeddyurappa has farmers' best interest at heart."

160-km sub-urban railway network to resolve traffic woes in Bengaluru: PM Modi

Bengaluru (Karnataka), Feb 04 (ANI): Prime Minister Narendra Modi on Sunday addressed 'Parivartan Rally' in Bengaluru. In his speech, PM Modi hailed the Union Budget 2018 saying it has solved one major problem of Karnataka, that is, traffic jam."With an investment of 17,000 crore, construction work of 160-kilometre-long sub-urban railway network will be started in Bengaluru. 15 lakh commuters of the city will be benefitted by it,"PM Modi added.

Markets to normalise soon, says Department of Economic Affairs Secretary

New Delhi, Feb 03 (ANI): Secretary of the Department of Economic Affairs (DEA), Subhash Chandra Garg on Saturday assured that normalcy will return to markets very soon. "It is wrong to say that there is sharp fall (in Sensex). There was a correction of 800 points or something. After coming of long-term capital gains, some impact had to come. Soon, the markets will revert to its fundamental aspects. I think normalcy will soon return," Garg told ANI.

Demonetisation: CBDT sends notices to individuals who deposited over Rs. 15 lakh but didn't file return

New Delhi: 03 Feb (ANI):Central Board of Direct Taxes Chairman Sushil Chandra on Saturday said notices were sent to those who deposited more than Rs. 15 lakh in banks during demonetisation but didn't file any return. Over 1,98,000 notices were sent during December-January to pursue that everybody should file return who deposited more than Rs. 15 lakh during demonetisation.

Union Budget 2018: Cryptocurrency is not legal tender, says FM Jaitley

New Delhi, Feb 01 (ANI): Union Finance Minister Arun Jaitley has begun the presentation of Union Budget 2018 in the Parliament on Thursday. Speaking at the Parliament, FM Jaitley said Cryptocurrency is not legal tender. He proposes that 1 lakh Gram Panchayats will be connected with Optic Fibre Cable. He also proposes 5 lakh WiFi hotspots in rural areas.

All eyes on Finance Minister's 'leather bag': People's expectation from Budget 2018

Dehradun, (Uttarakhand), Hyderabad (Telangana), Jan 30 (ANI): Ahead of the commencement of Budget Session 2018, eyes of the common men are staring at the Finance Minister's 'leather bag', which will decide their future. Citizens across the country are eagerly waiting for Modi Government's last budget. From shoppers to customers, from MSMEs to business tycoons, all have different opinion about the upcoming budget. Here's what the common men have to say.

Diamond traders expect new budget to fulfill their long pending demands

Surat (Gujarat), Jan 39 (ANI): With the upcoming budget, the diamond sector is waiting to get their long unfulfilled demands. The diamond traders want presumptive tax to be implemented which is their long unfulfilled demand. They are also demanding permission for minors to sell their rough diamonds in Special Economic Zones (SEZ). The minors can only show their roughs here. The other main demand is for the Small and Medium Enterprises (SME) sector. The SME sector does not get any finances from banks. Only large and Multinational Companies can avail these finances. This does not give the chance to Small and Medium Enterprises to grow. Other demands include basic facilities like housing and proper schools especially for the diamond workers who have migrated to the diamond city Surat.

These Fintech platforms facilitate hassle-free borrowing

New Delhi, Jan 28 (ANI): Financial technology platforms help fill the credit gap in the economy. Different types of digital lending models are processing loan applications based on information such as psychometric analysis, social profiles, credit score, and have gained great traction and faith from borrowers. Here is a list of four popular, leading fintech players serving on different market models- Loantap: LoanTap is a fintech consumer lending platform delivering flexible Equated monthly installments (EMI) free loan products to salaried professionals. The platform uses technology to deliver smart and innovative products for millennials. Borrowers can choose custom made loan products from an array of offerings like overdraft facility, credit card takeover loans, rental security deposit loans, advance salary loans and consumer durable loans. OMLP2P: OHMY Technologies Private Limited is the owner and operator of OMLP2P, an online Peer-to-Peer (P2P) lending platform for individuals and

Bombardier wins over Boeing in trade dispute

New Delhi, Jan 27 (ANI): The International Trade Commission rejected the U.S. Commerce Department's recommendation to slap Bombardier's CSeries with 300-percent duty on sales to American carriers. Aleksandra Michalska reports. Canada's planemaker Bombardier won a trade dispute with its U.S. rival Boeing. Last year, Boeing accused Bombardier of selling the CSeries planes below cost in the U.S. As a result, the U.S. Commerce Department recommended a 300 percent duty on Bombardier's jets. But the decisive body - the U.S. International Trade Commission - just voted 4-0 in favor of Bombardier. Bombardier's stock rose on the news. Boeing said it's disappointed by the ITC decision, and it will continue to document Bombardier's presence in the U.S. market.