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The Economic Times
The Economic Times HCCB appoints Harsh Bhutani as CFO
“I am pleased to welcome Mr. Harsh Bhutani as CFO. With his deep financial and business experience, strategic acumen, inspirational leadership, and proven track record of driving strong financial results, his presence will strengthen HCCB’s financial health, steer strategic decision-making, and further bolster stakeholder confidence,” said Juan Pablo Rodriguez, CEO, HCCB.
The Economic Times PwC weighs halving of China financial services audit staff
PwC plans to cut up to half its financial services auditing staff in China amid regulatory scrutiny and client departures. The firm, which employs at least 2,000 in this sector, faces a $138 million fine for its role in auditing China Evergrande Group. Cost-cutting measures include layoffs and mandatory leave.
The Economic Times NCLT admits BCCI's plea seeking insolvency proceedings against Byju's
The NCLT said Byju's has a debt and a default in payment: all the ingredients for admitting the edtech into insolvency. BCCI had moved the tribunal for initiation of an insolvency petition last September against the edtech firm, claiming a default in payment amounting to Rs 158 crore.
The Economic Times Budget 2024: ASSOCHAM calls for policies and fiscal measures to boost manufacturing and create quality jobs
Deepak Sood, Secretary General of the industry body, emphasises on critical reforms and fiscal measures for India's economic development.
The Economic Times Digital transformation: The cornerstone of today’s insurance experience
In the evolving landscape of finance, Kedar Patki, CFO of IndiaFirst Life, highlights how digital transformation is reshaping the insurance experience, making it more accessible, efficient, and customer-centric than ever before.
The Economic Times Govt implements uniform 5% tax for all aircraft, aircraft engine parts
India has implemented a uniform 5% tax on all imports of aircraft components and engine parts starting immediately, replacing varying rates that previously ranged from 5% to 28%. The decision, recommended by India's GST Council in June, aims to streamline tax rates for items like aircraft parts, testing equipment, tools, and tool-kits.
The Economic Times 'No error apparent': Supreme Court dismisses review petition in Adani-Hindenburg verdict
The plea argued that the Securities and Exchange Board of India (SEBI) had only updated the court about the status of its 24 investigations following the allegations, without disclosing any findings or details of action taken.
The Economic Times Budget 2024: LTCG auditions for a new role in India realty show
The proposal suggests that property held for more than 12 months be considered long-term assets, bringing this in line with equities and equity mutual funds, a person privy to the deliberations told ET. However, there may not be any change in the tax rates for both long-term and short-term capital gain. The long-term capital gains tax on property is 20% with indexation benefits to adjust for inflation.
The Economic Times Budget 2024: Budget likely to announce India’s commitment to global minimum effective corporate tax
Several key countries through which investments flow into India and also flow out from India (Indian headquartered companies setting up operations overseas) have either introduced or announced their commitment to Pillar 2.
The Economic Times Adani upbeat on its India ports biz, expects volumes to double in 5 years
The ports business has been seeing exponential growth in the past few years, and Adani expects the trajectory to continue. "Currently, the split between our ports and logistics segment is 70:30, and we expect the same to continue because while our logistics segment is growing, so is our ports segment, and that too at a much faster pace," he said. Revenue from the ports segment grew to Rs 20,972 crore in FY24, from Rs 17,304 crore in the previous year. On the other hand, revenue from the logistics segment grew to Rs 2,079 crore from Rs 1,744 crore in the same period.
The Economic Times Fed's Powell does not see hard landing for US economy
USA-FED/POWELL-RECESSION (URGENT)Fed's Powell does not see hard landing for US economy
The Economic Times Fraud tag on loans only after hearing borrowers: RBI to banks
The RBI has mandated banks to give borrowers three weeks to respond before labeling accounts as fraudulent, aligning with a Supreme Court ruling on natural justice. Banks must issue detailed notices and consider responses before final classification, ensuring transparency. Boards must review fraud risk policies every three years, with a committee overseeing cases chaired by an independent director. Auditors are to investigate flagged accounts promptly, aiding in fraud detection. These measures aim to strengthen banking integrity and safeguard against financial misconduct.
The Economic Times Google parent in advanced talks to buy cybersecurity startup Wiz for $23 billion
According to its website, Wiz generated about $350 million in revenue in 2023 and works with 40% of Fortune 100 companies. It recently raised $1 billion in a private funding round that valued the company at $12 billion. Wiz works with multiple cloud providers such as Microsoft and Amazon and counts companies from Morgan Stanley to DocuSign among its customers.
The Economic Times Budget 2024: MSME data stack, alternative credit assessment models can bridge $530 bn credit gap, says industry
Industry experts highlight the pressing need to tackle the issue of cash flow problems for the MSME sector in the upcoming Budget on July 23.
The Economic Times Paytm states consistent compliance and adherence to regulations on administrative warning from SEBI
In response to the SEBI Administrative Warning, India's leading payments and financial services distribution platform, Paytm, said that it has consistently adhered to all listing regulations from time to time, including any amendments and updates to these regulations over time.
