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The Economic Times
The Economic Times Sebi plans to ease eligibility rules for investment advisers and research analysts
Sebi proposed alterations to the regulatory framework for investment advisers and research analysts to reduce registration requirements and compliance costs. It also suggested relaxing eligibility criteria, including qualifications, and removing experience and net worth requirements. Sebi recommended maintaining a deposit for arbitration and conciliation purposes, aiming to address concerns about business continuity in the profession.
The Economic Times INDIA bloc MPs seek rollback of 18% GST on insurance
MPs from the INDIA bloc held a protest demanding the removal of the 18% GST on medical and life insurance premiums. They accused the government of burdening policyholders. The demonstration saw participation from major leaders including Rahul Gandhi and Sharad Pawar. Speaker Om Birla remarked that such protests at Parliament entrances were against agreed rules.
The Economic Times GST notice to airlines flawed: Lobby group
IATA opposed India's GST on foreign airlines' branch offices, stating it conflicts with global norms and could harm India’s aviation potential. Airlines like Emirates and Lufthansa received notices for GST covering July 2017 to March 2024. IATA noted Indian airlines abroad don't face similar taxes, urging a more consistent policy.
The Economic Times Vedanta files demerger scheme with NCLT
Vedanta has filed a demerger scheme with the National Company Law Tribunal (NCLT) after receiving all necessary approvals. The proposed demerger aims to create sector-focused entities in critical minerals, energy security, renewables, and technology sectors. Vedanta reported a 1% QoQ and 6% Year-on-Year increase in Q1 consolidated revenue of 35,239 crore.
The Economic Times Lockton appoints Amit Agarwal as CFO for India operations
Agarwal brings over 18 years of experience, having worked with Tata, KPMG, ZEE, Jana Bank, and Indiabulls.
The Economic Times Saatvik Solar names Abani Kant Jha as CFO
Before joining Saatvik Solar, Jha served as Director of Business Operations & CFO at Jindal Films and has also been serving as the Co-Chairman of ASSOCHAM (Associated Chambers of Commerce and Industry of India) since April 2024.
The Economic Times World Bank says assessing impact of Bangladesh events on its loan program
The World Bank announced on Monday that it is evaluating the impact of recent events in Bangladesh on its loan program. This follows the resignation and departure of Prime Minister Sheikh Hasina after violent protests and a government crackdown resulted in hundreds of deaths.
The Economic Times Fed under pressure to cut rates as market turmoil continues
The global stock sell-off has spurred calls for the US Federal Reserve to lower interest rates quickly and decisively. Some analysts are now urging an emergency rate cut before the Fed’s scheduled decision in September. Futures markets, as recently as last week, expected a quarter percentage-point cut at the central bank's next meeting. However, data from CME Group now indicate a half-point cut is more likely.
The Economic Times Vedanta plans debt refinance to cut funding costs after upgrade
Vedanta Resources Ltd. aimed to refinance its high-yield debt to lower costs following a favorable rating upgrade. The company entered talks to refinance $3 billion of bonds maturing between 2026 and 2028. S&P Global Ratings upgraded Vedanta, citing its adequate internal resources. The miner intended to reduce borrowing costs by up to 400 basis points.
The Economic Times NITI Aayog to lay out roadmap for deepening of corporate bond market
In its Annual Report 2023-24, the Aayog said corporate bond markets are an efficient cost minimization process for long-term funding and contribute significantly to financial stability. It is a mechanism for supporting the bank for long-term lending against relatively shorter-tenor liabilities and helping the insurance companies and pension fund holders to diversify their portfolios while spreading or distributing the risks and managing the liquidity gap, it said.
The Economic Times India sees surge in MSME registrations: 4.77 cr registrations on Udyam Portal as of July 2024
In terms of exports, MSME products have maintained a substantial share in India's overall export figures. According to data from the Directorate General of Commercial Intelligence and Statistics (DGCIS), the share of MSME-specified products in total Indian exports was 45.03 per cent for the fiscal year 2021-22, 43.59 per cent for 2022-23, and 45.73 per cent for 2023-24. This consistency highlights the crucial role of MSMEs in contributing to the nation's export economy.
The Economic Times Sebi says MFs can value AT-1 bonds on yield to call basis
India's markets regulator on Monday said that perpetual bonds will be valued by mutual funds based on the call option on these securities, a move that will make it easier for lenders to raise funds through this route.
The Economic Times India Inc. braces for buyback rush ahead of changes to tax rules
At least 11 firms, including Indus Towers Ltd., have or are set to approve share buybacks shortly after the new regime was proposed in the budget on July 23. This is a jump from the average of about four transactions per month in 2023, data from primeinfobase.com show.
The Economic Times India Inc rolls out benefits for employees’ parents, in-laws
India Inc is shifting focus to providing caregiver support for employees with ageing parents and in-laws due to the country's growing elderly population. Companies such as HSBC, Deutsche Bank, Accenture, SAP, and GlobalLogic are offering benefits like elder care leave, mental health counselling, and wellness apps to help employees fulfill caregiving responsibilities. This trend is expected to continue as the need for such initiatives grows with the ageing population.
The Economic Times Binance, the world's largest crypto exchange, gets Rs 722 crore GST from DGGI
The Ahmedabad unit of DGGI issued a show cause notice to Binance, demanding Rs 722 crore under GST. This move aimed at regulating virtual currency market. Binance allegedly collected fees from Indian customers and did not register under the Indian GST framework. Binance previously faced a Rs 18 crore penalty for AML non-compliance.
