1:27 pm
Deadline for exporters to submit applications for pending dues has been fixed as December 31
According to a notification by the Ministry of Commerce, the last date for submission of online applications for exporters to claim their pending dues under various export promotion schemes will be December 31.
On September 9, the government announced the release of Rs 56,027 crore against pending tax refunds of exporters under various export promotion schemes, PTI informed of.
1:24 pm
DHL Express to increase prices in India by an average of 6.9 per cent next year
DHL Express will increase its prices in India by an average of 6.9% with effect from January 1, 2022, as part of its annual price revision exercise globally. PTI informed of.
“Annual price adjustments allow us to invest more toward digital equipment, investing in convenience and fleet expansion. This includes the addition of state-of-the-art aircraft and vehicles as well as the expansion of our hubs and gateways to increase capacity. DHL Express “The fastest possible cross-border shipping is growing,” said RS Subramanian, Senior Vice President and Managing Director, India.
1:18 pm
Ola co-founder says electric scooter sales cross ₹1,100 cr in 2 days; Kerala will oppose move to bring petrol and diesel under GST and govt’s Rs 30,600 cr guarantee for acquisition of stressed assets: FM
China sets the stage for infringement of police gaming firm; Oil fell as the World Bank ended the ease of doing business report and a gradual return to supply.
12:50 pm
China sets the stage for violation of police gaming firm
Chinese regulators have set up a platform that allows the public to report on gaming companies they believe are violating restrictions on the timing of online games for children, PTI informed of.
It enables Chinese ID card holders to report violations and submit evidence, effectively giving the public the power to police gaming firms such as Tencent and NetEase.
It follows China’s decision to impose a time limit of just three hours a week for minors to combat Internet game addiction among children. Gaming companies are expected to enforce a limit of 1 hour of online games between 8 pm and 9 pm on Fridays, Saturdays and Sundays, before 90 minutes were allowed on most days.
12:40 pm
GST council meeting begins
GST Council meeting begins today to increase tax exemption on 11 COVID-19 drugs and review tax rates of over 4 dozen items like oncology medicine and coconut oil, PTI informed of.
The 45th meeting of the GST Council, chaired by Finance Minister Nirmala Sitharaman and chaired by the Finance Ministers of the states, is the first physical meeting since the onset of the COVID-19 pandemic. The last such meeting was held 20 months ago on 18 December 2019.
Since then the council has been meeting through video-conferencing.
12:30 pm
Shares of Poonawalla Fincorp fell 5% in their lower circuit
Shares of Poonawalla Fincorp continued to fall and its minimum trading limit fell to 5% after its Managing Director Abhay Bhutada withdrew from the company following the SEBI action, PTI informed of.
The stock fell 5% to the lower circuit of ₹163.55 on the BSE and fell 4.97% to ₹163.35 on the NSE.
The company’s shares had fallen 5 per cent on Thursday as well.
12:15 pm
World Bank ends Ease of Doing Business report
The World Bank Group on Thursday ended publication of its “Doing Business” report on the investment climate in the country. Reuters informed of.
After an investigation, it was found that top executives of the bank, including the then chief executive Kristalina Georgieva, exerted undue pressure to boost China’s ranking in 2017.
The World Bank said in a statement that the internal audit report covered “ethical matters, including the conduct of former board officials as well as current and/or former bank employees” and a board investigation conducted by law firm WilmerHall, the decision followed. Came.
11:45 am
Ola co-founder says electric scooter sales cross ₹1,100 cr in 2 days
Ola co-founder Bhavish Aggarwal said sales of its electric scooters have crossed ₹1,100 crore in two days.
Agarwal said the company has stopped buying for now and will reopen the buying window on November 1.
The company started selling its electric scooters on Wednesday. Ola said it sold scooters worth Rs 600 crore on the first day.
11:15 am
Kerala to oppose move to bring petrol and diesel under GST
Kerala will strongly oppose any move to bring petrol and diesel under the GST regime as it will further reduce revenue generation for the state, PTI informed of.
The state insisted that the Center should reduce its duty on two items to provide relief to the common people.
Central Excise Duty and State VAT (Value Added Tax) make up about half of the retail sale price of petrol and diesel. Bringing them under the Goods and Services Tax (GST) will impact the revenue generation of the states.
10:45 am
Transport Ministry is in talks with a foreign company for the Delhi-Jaipur Electric Highway
Union Road Transport and Highways Minister Nitin Gadkari has said that his ministry is in talks with a foreign company to build an electric highway from Delhi to Jaipur. PTI informed of.
While reviewing the progress of Delhi-Mumbai Expressway (DME) in Dausa, Rajasthan, Gadkari said that buses and trucks will also be run on electricity like electric railway engines.
“It is my dream to build an electric highway from Delhi to Jaipur. It is still a proposed project. We are in discussions with a foreign company,” he said. Gadkari said that as a transport minister, he has resolved to end the use of petrol and diesel in the country.
10:30 am
China applies to join Pacific trade deal to boost economic clout
China has filed an application to join the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP), the country’s commerce ministry said on Thursday, Reuters said.
Commerce Minister Wang Wentao presented China’s application to join the free trade agreement in a letter to New Zealand’s Trade Minister Damian O’Connor.
The CPTPP was signed in 2018 by 11 countries including Australia, Canada, Chile, Japan and New Zealand.
10:00 am
Govt guarantee of ₹30,600 cr to get stressed assets: FM
Finance Minister Nirmala Sitharaman on Thursday announced a ₹30,600 crore government guarantee for National Asset Reconstruction Company Limited (NARCL) for securing stressed loan assets. PTI informed of.
The Finance Minister announced the setting up of a bad bank as part of the resolution of bad loans worth around Rs 2 lakh crore in the budget for 2021-22.
The Bad Bank or NARCL will pay in cash up to 15% of the agreed value for the loan and the remaining 85% will be a Government Guaranteed Security Receipt. If there is a loss against the threshold value, the government guarantee will be invoked.
9:30 am
Sensex, Nifty open at new record levels
Indian benchmark equity indices, Sensex and Nifty opened at new record levels after touching record highs on the previous day. At 9:15 am Sensex opened up 0.45% at 59,409.98 and Nifty rose 0.45% at 17,709.65.
PSU Banks, Financial Services, FMCG, IT took the most and Nifty Bank reached close to the 38,000 mark.
9:15 am
Asian stocks steady amid fears of global growth
Asian shares fell in early trade with a strong first, but fears of global growth played in the minds of investors, Reuters informed of.
MSCI’s broadest index of Asia-Pacific shares outside Japan was down 2.7% for the week. Hong Kong’s Hang Seng index climbed 0.5% a day earlier after closing its lowest in 10 months.
Australian shares fell 1.03%, while Chinese blue chips rose 0.26% and Japan’s Nikkei rose 0.42% to hit a 31-year high on Monday.
9:00 am
Oil dropped due to slow supply
Oil prices fell after more supplies came online in the US Gulf of Mexico after two hurricanes, Reuters informed of.
Brent crude fell 0.2% to $75.33 a barrel and US West Texas Intermediate (WTI) also fell 0.2% to $72.50 a barrel. However. Both contracts were on course to rise 4% for the week.
Production in the Gulf of Mexico has recovered more slowly than expected and about 28% of crude oil production in the region remained offline as of Thursday.
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