Wednesday, November 27
Comprehensive tax reforms, rationalisation of capital gains tax regime, streamlined customs procedures and a dedicated dispute resolution mechanism topped the India Inc wish list for the next budget.Industry bodies met revenue secretary Sanjay Malhotra on Thursday to outline their tax proposals.They included the Confederation of Indian Industries (CII), Federation of Indian chambers of commerce and industry (FICCI) and PHD chambers of commerce and Industry (PHDCCI). The meeting was part of the government's customary pre-budget consultations for the upcoming budget.FICCI sought comprehensive tax reforms and simplification of compliance to enhance ease of doing business, relaxed tax deducted at source (TDS) provisions, rationalisation of capital gains tax regime, streamlining of customs proc
TAIPEI, Taiwan: The first time China faced Donald Trump in the White House, there was a trade war, a breach of protocol involving Taiwan's former leader, and a president-to-president bromance that turned sour. As President-elect Trump prepares to start his second term in office, China is bracing for unpredictability in its ties with the United States and renewed tensions over trade, technology and Taiwan. A new tariff war looms Perhaps the biggest consequence for China - if Trump stays true to his campaign promises - is his threat to slap blanket 60% tariffs on all Chinese exports to the U.S. Tariffs like that would be a blow to China's already unstable economy, which is suffering from high youth unemployment, a lengthy property slump and government debt. A 60% duty on Chinese imports cou
The initial public offering (IPO) of Sagility India was subscribed by 65% so far on the final day of the bidding process, fuelled by strong participation from retail investors. At 11 am, the issue attracted bids for 24,98,62,000 shares, or 65% against the issue size of 38,70,64,594 shares. The retail portion of the issue was subscribed 2.82 times, and the non-institutional category's subscription rate stood at 37%. The qualified institutional buyers (QIBs) portion witnessed a subscription of merely 7%.The Rs 2,106 crore IPO is entirely an offer-for-sale of 70.22 crore shares by the promoter, Sagility B.V., with no fresh issue component. All proceeds, excluding expenses, will go to the selling shareholder.Sagility India IPO price bandThe company has fixed a price band in the range of Rs 28-
Global geopolitical turmoil has impacted sales at McDonald's in West and South India, and some stores "are not even doing half of what was pre-crisis," Saurabh Kalra, managing director at Westlife Foodworld, said at a July-September post earnings analyst call. "I don't think a lot of stores which got impacted last year have come up to the level of what they were pre-crisis," Kalra said, addressing analyst queries on the impact of the ongoing war in the Middle East region.The developments in India come at a time when listed quick service restaurants chains such as Sapphire Foods and Devyani International, which operate Pizza Hut and KFC restaurants in India as independent franchise partners, Westlife Foodworld, Burger King and Domino's have cited stress in quarterly profits or same store sa
