News Updates from Around The World
India on track to become top global steel producer – Jessica D'silva. Business News : India as a steel bright spot is highly encouraging and is on track to become a top global producer, says an industry body.
According to the latest report from BMI Research, demand from construction, automotive and infrastructure industries continues to accelerate. The report has put down the sector’s success to the government’s push to raise capacity in order to meet demand from construction, automotive and infra sectors, said the Steel Users Federation of India (SUFI) in a statement today. The Rs 35,000-cr business of making India GST-ready - Quora. Some of the players in the GST race are Payworld, Dell, Tally Solutions The past few days have been ‘taxing’ for Pawan Kumar Gupta, in a race against time to become compliant with the requirement for the coming national goods and services tax (GST).
GST Council reduces tax rates of 66 items. Tax rates on certain kitchen items like pickles and mustard sauce, as well as movie tickets costing up to Rs 100 have been lowered as the Centre and states today reduced levies on 66 items.
Movie tickets costing Rs 100 and below will now attract 18% tax, as against 28% proposed earlier, while those above Rs 100 will continue to attract 28% GST. Kitchen use items like pickles, mustard sauce and morabba will attract 12% GST, as against 18% proposed earlier. Also, tax rates on cashew nuts have been cut to 5% from 12%. 15,080 profitable Indian companies paid no tax in 2015-16 – Jessica D'silva. Tax incentives allowed 15,080 profit-making Indian companies to have effective tax rates of zero, and in some cases less than zero, in 2015-16, according to an IndiaSpend analysis of the latest available national tax data or more specifically a government analysis called the Revenue Impact of Tax Incentives under the Central Tax System.
The central government introduced a minimum alternate tax (MAT) in the late 1980s to tackle this anomaly, but even MAT has exemptions that appear to have negated its original intent partially: 52,911 companies made profits in 2014-15 and paid no tax, IndiaSpend reported in March 2016. Get all the Updates on Business News Effective tax rates vary across sectors in 2015-16 The effective tax rates of the lowest paying industries (cement, sugar, financial leasing companies), which were in single digits in 2014-15, have increased substantially and all are touching nearly 20%.
Reliance Nippon Life AMC plans IPO in FY18; eyes valuation of Rs 20,000 cr. RNLAM, which manages assets worth nearly Rs 3.6 lakh cr, had registered a profit of Rs 581 cr Business News : Reliance Nippon Life Asset Management (RNLAM), the asset management arm of Anil Ambani-promoted Reliance Capital, plans to come up with an initial public offering (IPO) — the first by a major asset manager in the country — before March 2018.
Promoters Reliance Capital and Japan’s Nippon Life could tender their shares in the offering. Sources said the asset manager was eyeing valuations of around Rs 20,000 crore. According to industry players, an asset manager is valued at 5 per cent of its assets or 30 times its profit. 5 Nifty companies announce bonus shares in 2017; highest in 11 years – Initial Public Offering (IPO) Business News : Engineering & construction giant Larsen & Toubro (L&T) and state-owned oil marketing company, Bharat Petroleum Corporation (BPCL) from the Nifty50 index in last week declared bonus shares in the ratio of 1:2 i.e. 1 new bonus equity share for every existing 2 equity shares.
Besides these two, total five companies including ICICI Bank, Wipro and Gail (India) from the index announced bonus shares thus far in the current calendar year 2017 (CY17). Child marriages, especially of girls rise in urban India, decline in rural. Underage marriages, especially of girls, are rising in urban India and declining in rural India, according to a new analysis of census data, but while the immediate reasons are not clear, patriarcy and the continuing hold of tradition are implicated.
In Maharashtra, India’s third-richest state (by per capita income), 16 districts figure in a national ranking of top 20 districts reporting a rise in underage marriages over a decade to 2011, according to the study by the National Commission for Protection of Child Rights (NCPCR), India’s highest child rights body, and Young Lives India, the local chapter of a UK government-funded agency.. In Rajasthan, India’s ninth-poorest state (by per capita income), more girls aged 10-17 and boys aged 10-20 were married before the legal ages of 18 and 21, respectively, than any other state, but there was a decline in child marriage in all but one of its 13 districts figuring in the ranking, the study said. Girls & Boys Married Below Legal Age. Juices, oats and more: PepsiCo to tap millennials with nutrition push. Food and beverage major PepsiCo is strengthening its nutrition category to cater to health-conscious younger customers with completely new products and strategies.
The company has created three platforms to address this category, which was launched this year, and hopes that they can add $100 million in business in the coming years. The company has also decided to limit sales of products in this category to select stores unlike its usual strategy for new products. Moto Z2 Play with 64 GB storage, 4 GB RAM launched at Rs 27,999. Extending its Moto Z series, Lenovo-owned Motorola on Thursday launched Moto Z2 Play smartphone for Rs 27,999 in the country.Coming in lunar gray and fine gold colour variants, Moto Z2 Play will be available across all leading mobile stores and Flipkart from June 15.
"Smartphone's premium category is growing at the fastest rate in India and Moto is heading in the same direction. Premium category will grow at 28 per cent this year in India and Motorola is focusing on this category," Sudhin Mathur, Managing Director of Motorola India, told IANS. Powered by Octa-core Qualcomm Snapdragon 626 processor, Moto Z2 Play has a 4 GB RAM and 64 GB internal which can be expanded up to 2TB. The device runs on Android 7.1.1 Nougat operating system. The device features a 5.5 Full-HD Super-AMOLED display and a fingerprint sensor which doubles up as home button.
Moto Z2 Play sports 12MP rear camera that has a combination of laser autofocus and dual autofocus pixel technology. Air travel exposes you to radiation - how much health risk comes with it? From shouting it out to staying at home: a brief history of UK elections. Most of the voters who had cast their ballots in the general election on Thursday June 8, would have taken their right to do so for granted, unaware of the contested history of this now familiar action.
It’s actually less than 100 years since all adult males in the UK were awarded the franchise for parliamentary elections, in 1918, in the wake of World War I. That right wasn’t extended to all adult women for a further ten years after that. What is the Shia-Sunni divide? The Islamic State has claimed responsibility for two attacks that claimed at least 12 lives in Iran on Wednesday. With this, the flaring tensions between Sunnis and Shias are once again in the news. Iran is a Shia Muslim majority state often in tension with Sunni states and extremist groups like the Islamic State or al-Qaeda. These attacks are the latest chapter in the story of the centuries-long strained relationship between Sunnis and Shias. As a scholar of Islam and a public educator, I often field questions about Sunnis, Shias and the sects of Islam. Myanmar plane with 120 on board crashes, wreckage found: All we know so far.
The wreckage of the Myanmar military aircraft, which went missing on Wednesday with 122 people on board, was found on Thursday with some dead bodies in the Andaman Sea off the country's Dawei town. The cause of the plane’s crash remains unclear as of now. "We have found the plane and some dead bodies this morning about 8.25 am (07:25 am IST)," a spokesman for the military's information team said. Monsoon is here: Check out good holiday locations in India at cheap rates. There are three longish weekends during this monsoon — June 23-25, August 12-15 and August 25-27 — when one can go for holidays. All these days include weekends clubbed with, either a bank holiday or a festival and of course, the Independence Day on August 15. And the best part: Costs for travelling will be 15-20 per cent lower than the peak seasons. For those tired of the energy-sapping heat in Mumbai, Delhi and other cities, monsoons will be a good break. Virat Kohli only Indian in Forbes highest paid athletes list, earns $22 mn.
Indian cricket captain Virat Kohli is the sole sportsperson from the country to feature among the world's 100 highest paid athletes in the latest Forbes list topped by soccer star Cristiano Ronaldo. Kohli, 28, has been ranked 89th on the 2017 Forbes list of 'The World's highest paid athletes' with a total pay of $22 million, which includes $3 million from salary and winnings and another $19 million from endorsements. Describing Kohli as the "Indian cricket phenom", Forbes said the sports star has "for good reason" already drawn comparisons to all-time great Sachin Tendulkar.
It added that Kohli has continuously shattered batting records and in 2015 was named the captain of the Indian national team, making him one of the youngest players to ever hold the job. Reliance Nippon Life AMC plans IPO in FY18; eyes valuation of Rs 20,000 cr. Qatar's two clear choices in Gulf diplomatic rift: Bow down or defy Saudi. UK general elections 2017: All you need to know as Britain goes to polls. Thanks to Jio effect, India reach 15th spot in 4G availability. Thanks to the Jio launch that attracted 100 million subscribers in its first six months, India has reached 15th spot in the 4G availability globally, a survey by London-based wireless coverage mapping company OpenSignal revealed on Wednesday. According to OpenSignal's "State of LTE" report, India had 71.6 per cent 4G availability in the third quarter of 2016 which jumped to 81.6 per cent in the first quarter of 2017.
"India is one of the most dynamic and fast-changing mobile markets. The government and other stakeholders must continue to seize the immense opportunity and climb the global rankings across all parameters, to ensure high quality and consistent mobile experience for its one billion plus mobile users," said Brendan Gill, co-founder and CEO, OpenSignal, in a statement. UP: Cattle slaughter, smuggling punishable under National Security Act. Those involved in cow slaughter and illegal transport of milch animals for slaughter will be booked under the stringent National Security Act and Gangsters Act in Uttar Pradesh. The directive has been conveyed to all district police chiefs by the state Director General of Police (DGP) Sulkhan Singh.
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