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The Economic Times Adani-Hindenburg saga: Adani Group rejects allegations concerning $310 mn frozen funds in Swiss bank accounts, terms them baseless

The Adani-Hindenburg controversy escalated as the US short seller alleged that Swiss authorities had frozen over $310 million in six bank accounts linked to the Adani Group, citing criminal court records. The Adani Group rejected the "baseless allegations," stating its operations are transparent, lawful, and unrelated to any Swiss court proceedings.

The Economic Times Finance Ministry modifies compounding rules for offences under FEMA

The Finance Ministry has updated the compounding rules under FEMA, increasing monetary limits for adjudications by RBI officials and enabling online payments. The new rules aim to simplify foreign investment regulations, reflecting the government's commitment to ease of doing business.

The Economic Times Protesting Sebi employees yet to reach accord with management

​While employees have had negotiations with the top management since the September 4 statement by the regulator, no conclusion has been reached, sources told ET. Buch was not directly involved in the talks but reportedly wants the employees to withdraw their complaint to the finance ministry on HR issues.

The Economic Times Sebi warns investors against fraudulent activities by an unregistered entity

​In this group, the entity --Lazzard Asset Management India-- is misrepresenting itself as a registered stock broker with the Securities and Exchange Board of India (Sebi) using a forged registration certificate, the exchange said.

The Economic Times Fabindia collaborates with MoMSME to promote products of artisans

Fabindia has partnered with the Ministry of Micro, Small, and Medium Enterprises under the PM Vishwakarma Scheme to support traditional Indian artisans. The collaboration aims to promote artisan products, provide financial support, skill development, and marketing assistance, enhancing their market reach through Fabindia's retail network.

The Economic Times GST reforms signifies harmonizing fiscal imperatives with equitable policies, say legal experts

Recently, The 54th Goods and Service Tax Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman in New Delhi on September 9, 2024.

The Economic Times GST Council's decision on tax related to foreign airlines a 'positive development': IATA

IATA chief Willie Walsh has commended India's decision to exempt foreign airlines from GST on imported services, resolving concerns over INR 10,000 crore in tax demands. This development alleviates fears about its impact on India's aviation sector. The GST Council's recent ruling also regularizes past periods on an 'as is where is basis'.

The Economic Times Retail inflation rises marginally to 3.65% in August, still second lowest in 5 years

Rural inflation for August stood at 4.16%, while urban inflation was lower at 3.14%. Both figures represent a marginal increase compared to July’s rates. Additionally, India's Index of Industrial Production (IIP) grew by 4.8% in July 2024, marginally up from 4.7% in June 2024.

The Economic Times HPCL elevates K Vinod as CFO

Vinod, who has been with Hindustan Petroleum Corporation Limited (HPCL) for nearly 25 years, has been appointed as the company's Chief Financial Officer (CFO). Prior to this, Vinod served as Executive Director (ED) - Corporate Finance.

The Economic Times NFRA debars CA Santosh Deshmukh for one year citing serious audit irregularities at Sanwaria Consumer Ltd

In a major crackdown on audit malpractice, Chartered Accountant Santosh Deshmukh has been debarred for a year and fined Rs 5 lakh by the NFRA for severe audit failures at Sanwaria Consumer Limited.

The Economic Times Government eases GST refund rules for exporters; experts see operational challenges

The Central Board of Indirect Taxes and Customs (CBIC) has issued Circular No. 233/27/2024-GST, clarifying IGST refund rules for exporters. Experts call it a significant relief but warn of operational challenges.

The Economic Times Quick commerce war expands into battle for leadership talent

Poaching is rampant and Rs 2-3 crore salaries plus millions in stocks are on offer for top talent as the likes of Swiggy Instamart, Zepto, Blinkit and Flipkart focus on beefing up their leadership teams in the face of intensifying competition, recruiters and industry folks said.

The Economic Times Business Travel sees incremental growth amid strong passenger demand & industry momentum

In terms of accommodation, the average room rate across the top 100 corporate cities stood at USD182, showing a slight decline of USD 5 compared to H1-2023. The global hotel occupancy rate, as per STR’s July 2024 report, is forecast to hit 70 per cent. The car hire sector has also seen changes, with the global average daily rate for H1-2024 at USD54, marking a notable 26 per cent decrease compared to 2023.

The Economic Times Renewable firms hiring talent across levels amid expansion

India's renewable energy companies, including Adani Green Energy and Tata Power Renewable Energy, are ramping up hiring to support the nation's goal of net zero emissions by 2070. They seek talent in areas like project management, data science, and solar manufacturing. Companies are also collaborating with government bodies and engineering colleges for recruitment and upskilling initiatives.

The Economic Times Private credit deals to touch USD 10 bln in 2024: Report

Private credit deployments in India are expected to exceed USD 10 billion in 2024, according to a report by EY. The first half of 2023 saw over USD 6 billion in private credit transactions across sectors like real estate, infrastructure, and healthcare. Domestic funds are gaining market share, driven by local expertise and lower-cost domestic money.