The government is set to soon notify changes under the Foreign Exchange Management Act (FEMA) that will ease foreign direct investment (FDI) norms for overseas companies with up to 10 per cent Chinese shareholding, a senior official told news agency PTI on Thursday.Once notified by the Department of Economic Affairs (DEA), the revised framework will…
New Delhi: The PPP-run airports have asked govt to ensure airlines pass on the benefit of reduced landing and parking charges to passengers. And also that once this three-month 25% reduced aeronautical charge period ends on July 7, the same should be hiked along with an increase in user development fees (UDF) for international passengers…
For millions of salaried employees and the organisations that employ them, the proposed increase represents a shift towards social security. (AI image) India’s social security framework is at an important inflection point. After the labour codes, the government is reportedly considering another major reform: raising the wage ceiling for mandatory Employees’ Provident Fund (EPF) coverage…
New Delhi: Govt on Thursday replaced National Building Code (NBC) with National Building Construction Standards (NBCS) by withdrawing the earlier code. The new standards will serve more as guidelines, with this being done following directives from Deregulation Cell under Cabinet Secretariat.TOI has learnt that one of the main reasons for replacing NBC with NBCS was…
Indian markets are set for a shortened trading week, with the NSE and BSE remaining closed on Friday, May 1, for Maharashtra Day. The holiday will pause trading across equity, equity derivatives and related segments.For investors planning trades or settlements, Friday’s closure will be the latest scheduled market break after the April 14 holiday observed…
The first direct commercial flight between the United States and Venezuela in seven years was scheduled to land in Caracas on Thursday, marking a major step in the restoration of travel links between the two countries after years of disruption, AP reported.The resumption of nonstop service comes months after the US capture of then President…
Infosys has appointed Hindustan Unilever Ltd’s non-executive chairman Nitin Paranjpe as non-executive vice chairman of its board with immediate effect, PTI reported on Wednesday.“The Board of Directors has approved the appointment of Nitin Paranjpe as non-executive Vice Chairman of the Board with immediate effect,” the company said in a statement.Paranjpe is also non-executive vice chairman…
US markets traded mixed on Thursday as strong corporate earnings helped Wall Street stay near record highs despite sharp swings in crude oil prices linked to the Iran war, AP reported.The S&P 500 rose 0.1 per cent and remained just below the all-time high touched earlier this week. The Dow Jones Industrial Average gained 413…
The Supreme Court on Thursday questioned the Centre for repeatedly failing to file its affidavit in a plea seeking regulatory guidelines to curb “unpredictable fluctuations” in airfares and ancillary charges imposed by private airlines, PTI reported.A bench of Justices Vikram Nath and Sandeep Mehta asked the Union government to file an application along with an…
India’s total foreign direct investment (FDI) inflows are likely to cross $90 billion in 2025-26 after already surpassing $88 billion during April-February, a top government official said on Thursday.DPIIT Secretary Amardeep Singh Bhatia said the government had undertaken a series of policy measures to attract foreign investments into the country, PTI reported.He said that during…
Iran’s currency plunged to a record low in recent days against the US dollar as the ongoing US naval blockade of Iranian ports continues to strain the country’s economy.On the black market on Wednesday, the rial fell to around 1.80 million per dollar, according to currency-tracking websites Bonbast and AlanChand. At the start of the…
New Delhi: In good news for patients, Indian Patent Office has refused a patent on MNC firm AbbVie’s blockbuster immunology therapy Rinvoq, paving the way for affordable versions to enter the domestic market. In a recent hearing, the Delhi Patent Office held that the claimed invention was “obvious” and lacked inventive step, a violation of…
