MUMBAI: Sensex rose for the fifth consecutive session on Wednesday, resulting in the benchmark index gaining 4,055 points or 5.5% during this stretch. FPIs have played a key role in this run, having turned net buyers.After a muted start to the session, the index reversed course as the US mid-term election results began pointing to…
MUMBAI: With chances of a diplomatic resolution to the US-Iran conflict rising after the Democratic sweep of the mid-term elections, oil prices dipped on Wednesday. In evening trades, Brent crude was down 2.8% at just above the psychologically important $100 level, down from $117 level last week. Falling crude prices also had a positive impact…
NEW DELHI: Industry body Ficci has sought restoration of long-term capital gains tax (LTCG) exemption on listed securities, while “appropriately” raising the securities transaction tax (STT) on delivery-based transactions to protect govt revenue.During a pre-budget meeting with revenue secretary Arvind Shrivastava on Wednesday, the industry lobby group also suggested that the regime should be maintained…
American voters have handed control of the US Congress to the opposition Democratic Party. US President Donald Trump has suffered a major blow in midterm elections with Republicans losing control of both the House of Representatives and the Senate.In a significant rebuke to Trump, American voters on Tuesday handed control of the US Congress to…
The overall basket of nuts and dry fruits has become 25-40% more expensive year-on-year. Your dry fruits box this Diwali may look very different! With the cost of dry fruits going up, retailers are looking at alternatives to fill in the boxes this time.For example, pistachios are becoming increasingly scarce in Diwali gift hampers this…
Shares of Elon Musk’s Tesla Inc. and Space Exploration Technologies Corp. fell ahead of Wednesday’s US stock-market opening as Democrats swept to control of Congress, sharpening investor concern over the future of the Republican megadonor’s key holdings. Tesla and SpaceX shares fall after Democrats win control of Congress in the US midterm elections. (REUTERS/Evan Vucci/File…
While the tax system uses various section numbers, almost every notice a taxpayer receives falls into one of five common categories. By Archit GuptaEvery ITR filing season, when an email from the Income Tax Department lands in someone’s inbox, the immediate reaction is panic. People instinctively view a tax notice as a challenge to their…
The increase in import duty has changed the cost dynamics of gold supply in India. (Image for representative purpose only) India, the world’s second-largest gold market, is seeing a significant change in the way gold enters the country. The increase in import duty from 6% to 15% has made official imports more expensive, prompting a…
IN THE GOOD old days China appealed to investors as the world’s greatest convergence story. Its living standards would catch up with those in the West, its economy would multiply in size and the value of its stock market would grow in tandem. Or so the story went. Investors just needed to position themselves on…
Both Democrats and Republicans have increasingly backed economic nationalism. (Image for representative purpose only) What does Democrats’ win in US midterm elections mean for India-US trade deal prospects? Will Donald Trump be forced to change his strategy?The unfavourable midterm election outcome is unlikely to prompt President Donald Trump to change course on trade, according to…
