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The Economic Times
The Economic Times India Inc makes a play for equality: L&T and Amazon lead the way with all-women teams in engineering and delivery
Engineering giant L&T has established an all-women team at Tata Steel's mining site in Odisha, handling large machinery repairs, inspired by a successful pilot. Amazon, which initiated all-women virtual customer service in 2020, now operates nine all-women delivery stations in various locations. Companies like Shell, KFC, and Dr. Reddy's are also creating all-women teams in various sectors, boosting productivity, reducing attrition, and attracting female talent. These initiatives aim to address the gender gap and promote inclusive practices across industries.
The Economic Times G7 tackles migration, economy & more, but differs on abortion
Leaders of the G7 nations focused on artificial intelligence, economic security, and migration during their summit in Italy, addressing major global challenges like financial support for Ukraine and climate change.
The Economic Times India cuts windfall tax on petroleum crude
India reduced the windfall tax on petroleum crude to 3,250 Indian rupees per metric ton from 5,200 rupees on June 15. The tax for diesel and aviation turbine fuel remained at zero. The tax is revised every fortnight and the recent adjustment was made on June 1.
The Economic Times Hyundai unit files for India IPO that could be country's biggest
India's second-biggest car maker behind Maruti Suzuki, Hyundai will not issue new shares in the IPO which will involve its South Korean parent selling part of its stake in the wholly owned unit to retail and other investors via a so-called "offer for sale" route.
The Economic Times Why India-China tensions are equal to a big headache for electronics makers
According to industry executives, 4,000-5,000 visa applications of Chinese executives are currently awaiting government go-ahead, hindering the Indian electronics manufacturing industry’s expansion plans. This is despite New Delhi setting up a mechanism to clear business visa applications within 10 days.
The Economic Times India’s wholesale prices accelerate to 15-month high of 2.61% in May
India's Wholesale Price Index (WPI) surged to a 15-month high of 2.61 percent in May, up from 1.26 percent in April 2023. This increase was notably higher compared to the 3.48 percent decline seen in May 2023. The numbers accelerated significantly, with WPI reaching 7.4 percent in May, up from 5.5 percent in April and 4.82 percent in May 2023. Primary articles inflation rose to 7.2 percent in May from 5.01 percent in April, while fuel and power inflation remained subdued at around 1.4 percent.
The Economic Times Rajib Kumar Mishra ceases as PFS chairman, PTC India CMD after SEBI's governance breach order
SEBI also barred former PFS Managing Director (MD) and Chief Executive Officer (CEO) Pawan Singh from holding the position of director in any listed company for two years and fined him Rs 25 lakh.
The Economic Times Curb on unfair GST demand recovery proceedings: GST officials now needs prior approval from higher authority to act within 3 months of demand
GST demand order: If you have received a GST demand order, you can either it pay it or file an appeal against it. However if GST officials believe that it is necessary to ask for early payment of the demand before the stipulated time period they can do so. However now they need to give a justifiable reason to do so.
The Economic Times NCLT directs Byju’s to maintain status quo, halts $200 million rights issue
The National Company Law Tribunal (NCLT) has directed edtech major Byju's to maintain status quo in its shareholding, pausing its controversial rights issue conducted at a 99% discount to its last peak valuation of $22 billion. Byju's faces a petition from investors in the NCLT and is restrained from proceeding with the rights issue. The matter will be heard next on July 4, and the tribunal has asked for details of Escrow bank accounts and US court actions.
The Economic Times Tata Consumer Products aspires to be a full-fledged FMCG Co, to double capex to Rs 785 cr in FY25: N Chandrasekaran
Tata Consumer Products Ltd plans to diversify and expand into new FMCG categories, doubling capex to Rs 785 crore for FY25 with a focus on a new plant in Vietnam. Chairman N Chandrasekaran emphasized growth through acquisitions, particularly in health-oriented and food products, while investing in digital technology and advertising.
The Economic Times GST Council likely to consider a review of 28% tax on online gaming at June 22 meeting
The council may also take up recommendation of the fitment committee on inverted duty structure of 15 items, officials aware of the matter told ET. However, a broader process of rate rationalisation may be pushed for later, they said.
The Economic Times Ambuja cements deal to acquire Hyderabad-based Penna
Of the enterprise value, Ambuja Cement will hold back around ₹3,500 crore as milestone payments for completion of 2 million tonne (MT) cement capacity and 3 MT clinker facility at Penna's Rajasthan plant, which is likely in a year.
The Economic Times FAME-3 may get a budget-day release; Rs 10,000-crore outlay expected
Electric two, three, and four-wheelers are expected to be supported under the Faster Adoption & Manufacturing of Electric Vehicles (FAME) scheme, which could receive a budgetary allocation of about Rs 10,000 crore, people familiar with the deliberations told ET.
The Economic Times FISME urges govt to review policies to help faltering MSMEs
The key body representing MSMEs has also sought the government’s intervention in protecting export-oriented MSMEs and tweaking trade policies to reflect the growing contribution of Asia to global GDP.
The Economic Times Simplify rate structure, include informal economy in tax ambit: Tax experts
Under GST, taxpayers increased from 60 lakh in 2017 to 1.40 crore in 2023 with over 114 crore returns reported to be filed till June 2023. Experts at the roundtable made a case for a wider tax base leading to more revenue collections.
