WFH works, but offices will reopen cautiously

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Govt weighs imposing 18% GST on bitcoin trade

The government is weighing a proposal to impose 18% goods and services tax (GST) on bitcoin transactions, estimated to be around Rs 40,000 crore annually. ​​The Central Economic Intelligence Bureau (CEIB), an arm of the finance ministry, has put forward the proposal to the Central Board of Indirect Taxes & Customs (CBIC), suggesting that the government could potentially receive Rs 7,200 crore annually on bitcoins trading in the country.

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Tesla will start India ops early next year: Gadkari

Road transport and highways minister Nitin Gadkari said on Monday that the US electric vehicle major Tesla will start operations in India early next year. ​​“The company is expected to start its operations, first with sales for its vehicles in India from next year, and considering the demand, it would also look into setting up a manufacturing facility here,” Gadkari told TOI.

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EU nations unanimously back post-Brexit trade deal

European Union nations have unanimously approve the post-Brexit trade deal with the United Kingdom, a prerequisite for the agreement to come into operation on New Years Day. Germany, which holds the EU presidency, said the decision came during a meeting of EU ambassadors to assess the Christmas Eve agreement.

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Maintaining 4% inflation appropriate for India: RBI paper

Maintaining 4 per cent inflation is appropriate for India as targeting a lower rate could impart deflationary bias to the monetary policy, said a Reserve Bank paper. Under the current dispensation, the RBI has been mandated by the government to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side.

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Govt lifts ban on onion exports as prices plunge

The government on Monday decided to lift ban on onion exports from January 1, as prices have fallen sharply in the last few weeks on expectations of a big crop. Exports of all varieties of onion will be allowed, the ministry of commerce and industry said in a notification.

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Investors gain Rs 8.22L cr in 4 sessions as markets rise

In four trading sessions, investor wealth jumped Rs 8.22 lakh crore as markets continued their rally with the benchmark indices recording life time peaks on Monday. The BSE benchmark index sensex settled 380.21 points higher at its all-time closing high of 47,353.75 on Monday. The index also scaled its fresh record intra-day peak of 47,406.72.

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'Gross NPAs may rise to 10.1-10.6% by March 2021'

Banks' gross non-performing assets (NPAs) and net NPAs are expected to rise to 10.1-10.6 per cent and 3.1-3.2 per cent, respectively by March 2021, Icra said Monday. The agency also expects net NPA to decline to 2.4-2.6 per cent by March 2022.

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Eight ways wine will change in 2021

Where to start? Covid-19 upended all our oenophile habits, shifting how we buy wine (online more than ever), how we taste and learn about it (virtually), and where we end up drinking it. (Not at parties, bars, and restaurants)

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Top 10 richest people in world in 2020

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Sensex surges 380 points to settle at fresh closing high of 47,354

Equity indices continued to rise on Monday with both the BSE and NSE indices scaling fresh closing highs. After scaling an intra-day high of 47,407, the 30-share BSE index finished 380 points or 0.81 per cent higher at 47,354; while the broader NSE Nifty settled 124 points or 0.90 per cent at 13,873.

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Fund raising via equity issues jumps 116% in 2020

The devastating pandemic failed to dampen the primary and secondary capital market issuances with the year closing with the highest ever fund raising from the equity markets, that grew at 116 per cent to Rs 1.78 lakh crore in IPOs, OFS and other market issuances, according to a report.

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What India Inc will watch out for in 2021

The economic crisis triggered by the lockdown has demonstrated that size matters. Going into 2021, it appears it's the big boys, with strong balance sheets and deep pockets, who will have the edge.

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Top 20 models drive over 74% of India’s car sales

Two consecutive years of low sales, first due to an economic slowdown and then the pandemic, has created a ‘winner takes it all’ situation in the car and SUV market. The top 20 models sold between April and November comprise 74.1% of all passenger vehicle sales in India, up from 70% in 2015-16 and 69% in 2016-17.

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Alibaba antitrust fears worsen China's internet sell off

Alibaba Group Holding Ltd led a sell off in Chinese tech giants triggered by fears antitrust scrutiny will spread beyond Jack Ma’s Internet empire and ensnare more of the country’s most powerful corporations.

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Tech keeps ‘hot job’ tag, leads in payouts

If you are proficient in programming languages like Golang and C# (C-Sharp) or specialise in Hadoop and machine learning, you will be among the top earners taking home Rs 24-35 lakh.

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'Make in India' important for metro expansion: PM

Prime Minister Narendra Modi on Monday termed the 'Make In India' initiative as very important for the expansion of metro services. While inaugurating India's first-ever driverless train on Delhi Metro's Magenta Line via video conferencing, PM Modi said that 'Make in India' reduces cost by saving foreign currency and providing more employment to Indian people.

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Virus, vaccines and volatility: Stock market takes a wild ride in 2020

From the depths of despair to an adrenaline-pumping ascent, equity investors traversed the whole gamut of emotions in 2020 as a once-in-a-lifetime pandemic followed by equally unprecedented stimulus measures whiplashed global stock markets, upended conventional wisdom and blurred the lines between investing and speculation.

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Bolstered by pandemic, tech titans face growing scrutiny

Accelerating the transition to an ever more digital existence, the coronavirus pandemic has tightened tech giants' grip on billions of customers' lives. Governments and users are belatedly coming to terms with the power held by the likes of Apple and Amazon, particularly in focus this year thanks to their role in everything from setting up video meetings to doing our shopping for us.

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Break-even year for bleeding PSU banks

The economy has shrunk 15.7% in the first half, jobs have been lost, incomes have contracted and uncertainty hangs over high-contact services with the survival of many in doubt.

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Vaccine boost for travel and retail sectors

After receiving a debilitating shock treatment at the hands of Covid, several industries in India across retail, FMCG and automobile are set to get back on their feet in 2021.

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Stock bet or safety in gold? What should be your pick

2020 was a standout year for stocks, gold and bitcoins as investment destinations. But FDs took a hit with the plunging rate of interest. Debt mutual funds, however, recorded a good return as interest rate fell, but shutting down six debt schemes made investors jittery.

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Rise & reset: Rebuilding in face of uncertainty

The swift recovery displayed by the economy after the bruising impact of one of the strictest lockdowns in the world to prevent the spread of the Covid-19 infection has surprised many. It has also brought some cheer for policy makers in an otherwise gloomy year.

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Will home loans, health cover get more affordable?

You didn’t need to visit a branch to open a bank account in 2020. Come 2021, the digital drive will continue even as tough lessons from the previous year will force the financial world to innovate.

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Don’t fly in Chinese nationals: Centre to airlines

In a strong retaliatory push, India has asked all airlines informally not to fly Chinese nationals into the country. This comes after China’s not-so-subtle move to stop Indians from flying into their country, something that has only tightened since November.

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Govt to launch new quarterly jobs survey from March 2021

The government will launch a new quarterly employment survey from March next year that will amalgamate two existing surveys; the Quarterly Employment Survey (QES) and the Area Frame Establishment Survey (AFES). ​​A more expansive version of the existing enumeration exercises, the new survey is likely to be christened the All India Quarterly Base Establishment Survey (AIQBES), and is aimed at plugging the assessment gaps in understanding the real employment situation in the country.

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China orders Ant Group to rectify businesses

Chinese regulators have ordered Ant Group, the world's largest financial technology company, to rectify its businesses and comply with regulatory requirements amid increased scrutiny of anti-monopoly practices in the country's internet sector.

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Many lose jobless benefits as Trump refuses to sign bill

Millions of Americans saw their jobless benefits expire on Saturday after US President Donald Trump refused to sign into law a $2.3 trillion pandemic aid and spending package, protesting that it did not do enough to help everyday people.

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Govt looks at new ways for renewable sector investment

India will look to be more innovative in its approach to garner additional investments worth Rs 1.75 lakh crore for having 35 GW of renewable power generation capacity next year to meet the ambitious target of 175 GW of clean energy capacity by 2022.

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Govt allows Rajasthan to borrow for biz reform

The finance ministry on Saturday said it has permitted Rajasthan to borrow an additional Rs 2,731 crore after the state successfully undertook ease of doing business reforms.

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Voda Idea deploys 3G spectrum for 4G in Mumbai

Telecom operator Vodafone Idea on Saturday said that it has started using 3G spectrum for 4G services in Mumbai and claimed that customers in the metro city will get higher data speed with the refarming of spectrum.

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How pandemic, social exclusion led informal sector into poverty

While the virus affected all classes, the economic fallout of the Covid-19 pandemic was particularly devastating for those in the informal sector who found themselves on the streets, without their livelihoods and sometimes without their homes too.

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Britain, EU publish text of narrow Brexit trade deal

Britain on Saturday published the text of its narrow trade agreement with the European Union just five days before it exits one of the world's biggest trading blocs in its most significant global shift since the loss of empire. The text includes a 1,246-page trade document, as well as agreements on nuclear energy, exchanging classified information, civil nuclear energy and a series of joint declarations.

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Coal India set to diversify into non-coal mining areas in 2021

State-owned Coal India Ltd (CIL) is set to diversify into non-coal mining areas as well as make major investments in clean technology in 2021 after demand for the dry fuel remained muted for most of this year amid the coronavirus pandemic impacting economic activities.

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'Payment of 1% GST in cash only for 45k taxpayers'

The government's decision on mandatory payment of at least 1 per cent of goods and service tax (GST) liability in cash will impact only around 40,000 to 45,000 taxpayers but help the entire system curb the menace of fake ITC availment and operation of fly-by-night operators, sources in the finance ministry said on Saturday.

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Sponsored: Kia Sonet – The game-changer young and wild compact SUV

If you are on the lookout for a compact-SUV but with big features, good design as well as mileage, your shopping destination should be a Kia showroom.

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Condom, rolling paper orders spike in 2020: Study

Stuck indoors for most part of the year, Indians purchased more condoms during the day than night and doubled down on purchases of rolling paper in 2020, according to a delivery trends report by concierge services app Dunzo.

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Spotlight on regulations as desi startups ‘flip’ base

Flipping refers to domestic startups housing their shareholding, intellectual property (IP) and at times even other assets in a firm overseas, and relegating the local entity to a subsidiary.

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M&A deals spike as cos strive to stay afloat

Global merger and acquisition (M&A) activity clawed its way back from near-decade lows in 2020, facing down the pandemic with a string of large transactions in the second half of the year that dealmakers hope will continue.

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2021 Audi A4 India launch on January 5: What the C-Class, 3 Series rival will offer

Audi has confirmed the arrival of a new sedan to India on January 5, 2021. Bookings for the new facelift Audi A4 have already commenced. Along with new aggressive styling, the new A4 will bring new features and technology as well.

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India to become 5th largest economy in 2025, 3rd largest by 2030

India, which appears to have been pushed back to being the world's sixth biggest economy in 2020, will again overtake the UK to become the fifth largest in 2025 and race to the third spot by 2030, a think tank said on Saturday.

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China to leapfrog US as world's biggest economy by 2028: Report

China will overtake the United States to become the world's biggest economy in 2028, five years earlier than previously estimated due to the contrasting recoveries of the two countries from the Covid-19 pandemic, a think tank said.

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New Volvo S60: Welcome to the future of driving

From automatic braking to lane-keeping assist, the new S60 has a lot going for it.

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Lower interest rates make India Inc less default prone

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Bad debt fear keeps pvt banks away from street vendor loans

Last week, a branch manager of a leading state-run bank in Madhya Pradesh wrote to the municipal commissioner seeking “cooperation” as several of the 160 street vendors, who were given loans under the PM SVANidhi scheme, had not paid a single instalment, turning them into non-performing assets (NPAs).

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RIL to buy IMG Worldwide from sports mgmt JV

Billionaire Mukesh Ambani's Reliance Industries Ltd (RIL) has agreed to buy out IMG Worldwide LLC from their sports management joint venture for Rs 52.08 crore.

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One-third CMOs expect V-shaped recovery, says report

Around one-third of Indian chief marketing officers (CMOs) participated in a survey said they are hopeful of V-shaped recovery of their industries on the back of performance of the agriculture sector and increasing demand of the FMCG products, according to a report.

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3.97cr ITRs filed for 2019-20 fiscal till Dec 24

As many as 3.97 crore taxpayers have already filed their income tax returns (ITRs) for assessment year (AY) 2020-21 (fiscal year 2019-20) till December 24, the Income Tax department said on Friday.

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Forex reserves rise to record $581.131 billion

The country's foreign exchange reserves surged by $2.563 billion to touch a record high of $581.131 billion in the week to December 18, Reserve Bank of India (RBI) data showed. In the previous week, the reserves had declined by $778 million to $578.568 billion.

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EU nations start assessing post-Brexit trade deal

European Union ambassadors were convening on Christmas Day to start assessing the massive free-trade deal the bloc struck with Britain that should kick off next next week when the acrimonious Brexit divorce process finally comes to an end.

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Govt must continue measures to sustain growth: RBI

The Centre and state governments need to continue with the counter-cyclical fiscal measures to sustain the momentum of economic growth which went through a rough patch following the outbreak of the coronavirus pandemic, according to a Reserve Bank of India (RBI) article.

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'Collection through FASTag crosses Rs 80cr per day'

The National Highways Authority of India (NHAI) on Friday said the electronic toll collection through FASTag has crossed Rs 80 crore a day with record 50 lakh transactions per day.

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Top 10 richest people in India in 2020

In spite of the challenges faced by the industry due to the ongoing Covid-19 pandemic, the combined wealth of India's richest people grew twice as fast as net market capitalisation of all Bombay Stock Exchange (BSE) listed companies in the year 2020, revealed a report by Hurun India.

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'India should aggressively pursue FTAs with EU, UK'

With European Union and the UK clinching a post-Brexit trade pact, India should now aggressively pursue free trade agreements (FTAs) separately with both the regions, according to experts.

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