Domestic retailers seek TRAI like regulator for e-commerce

Domestic retailer associations have sought a regulator like the Telecom Regulatory Authority of India, and the Securities and Exchange Board of India for the e-commerce sector and pushed for a stronger version of the Press Note 2 of 2018 which stipulates that the inventory of a vendor will be deemed to be controlled by the […]

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FDI policy in e-commerce sector should be enforced in letter and spirit: CAIT

Domestic traders’ body CAIT on Wednesday said the foreign direct investment policy in the e-commerce sector should be enforced in letter and spirit so that global players do not violate the rules. The issue was raised by Confederation of All India Traders (CAIT) Secretary General Praveen Khandelwal at a meeting called by the Department for […]

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Economic reforms to drive India sovereign rating, says K V Kamath

Veteran banker K V Kamath on Wednesday expressed optimism that India’s sovereign rating would go up on the back of efforts being taken by the government to push economic reforms. Participating in a virtual event organised by India International Centre (IIC), Kamath, former chief of Shanghai-based New Development Bank, further said that he does not […]

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Pakistan receives second COVID vaccine shipment from China

Pakistan on Wednesday received half a million doses of coronavirus vaccines donated by China. The second consignment of the Sinopharm vaccine was received by Pakistan health officials at the Nur Khan airbase in Rawalpindi. Special Assistant to the Prime Minister (SAPM) on Health, Dr Faisal Sultan, was present to receive the batch of the vaccines. […]

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EU agrees China sanctions over Uighur crackdown

EU member states have agreed to impose sanctions on four Chinese officials and one state-owned entity over Beijing’s crackdown on the Uighur minority, European diplomats said Wednesday. Ambassadors from the 27 countries gave the green light for the measures as part of a package of human rights sanctions that will also see individuals in Russia, […]

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Smart money dumping consumption stocks as interest shifts to capex cycle

ET Intelligence Group: The consumption theme is gradually losing its sheen as institutional investors latch onto the companies that can benefit from the government’s focus on reviving the capital expenditure (capex) cycle, show the data from NSDL. The weight of the consumer staples sector in the portfolios of the foreign portfolio investors (FPIs) dropped to […]

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CBDT notifies rules for tax deduction on non-salary payments to NRIs

The Central Board of Direct Taxes (CBDT) has notified a new set of rules under which assessees will have to submit an electronic form for determining the taxable portion of any amount – other than salary – paid to an non-resident Indian or a foreign company in cases where assessee believes that the entire amount […]

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Global fund managers see inflation, taper tantrum as bigger risk than Covid-19

MUMBAI: In what can be termed as a stunning reversal, global fund managers no longer see the Covid-19 pandemic as the biggest risk to their portfolio even as the virus rages in many parts of the world. Instead, they now see inflation and a tapering of the US Federal Reserve’s bond purchases as the biggest […]

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Par panel for use of ‘officials of the Union of India’ in place of central government officials

A parliamentary committee has suggested the use of the term “officials of the Union of India” in place of “central government officials” for those serving in all the three organs of governance – the executive, the legislative and the judiciary. In its report, the panel observed that the executive, the legislature and the judiciary have […]

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Lok Sabha passes Appropriation Bill, completing two-thirds of budget exercise

The Lok Sabha on Wednesday passed the Appropriation Bill 2021-22, authorising the government to draw funds from the Consolidated Fund of India for its working as well as implementation of its programmes and schemes. This completes two-thirds of the exercise for approval of the Budget for 2021-22. The Appropriation Bill authorising payment and appropriation of […]

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