India’s net direct tax collection increased 7.1 per cent to about Rs 22.8 lakh crore till March 17 in the current financial year, aided by higher corporate tax mop-up and slower refund outgo, according to official data released on Wednesday.Data shared by the Income Tax Department showed that net corporate tax collection grew by around…
The United States has eased sanctions on Venezuela’s state-owned oil sector, allowing American companies to resume limited business with Petróleos de Venezuela S.A. (PDVSA), as the Donald Trump administration seeks to expand global oil supplies during the ongoing Iran conflict, AP reported.The US Treasury Department on Wednesday issued a broad licence permitting PDVSA to sell…
US wholesale prices rose more than expected in February, reflecting mounting inflationary pressures even before the recent surge in global energy prices linked to the Iran conflict, according to data released by the Labor Department as reported news agency AP.The department reported on Wednesday that its producer price index (PPI), which measures inflation at the…
File photo: US President Donald Trump (Picture credit: AP) US President Donald Trump has temporarily waived the century-old Jones Act for 60 days in a bid to ease rising energy costs in the United States, after the US-Israeli war with Iran sent oil markets sharply higher and pushed up petrol prices.As per news agency AFP,…
NEW DELHI: India is deploying additional warships in the Arabian Sea and the Gulf of Oman to ensure safe passage for its fuel and LPG carrying vessels as tensions escalate around the Strait of Hormuz, Bloomberg reported citing sources.The Indian Navy has positioned more than half a dozen warships, including logistics vessels, as a precautionary…
US equities edged lower in early trade on Wednesday as a fresh surge in crude oil prices reignited worries about inflation and dampened investor sentiment ahead of the Federal Reserve’s policy decision.The S&P 500 fell 0.3 per cent and was on course for its first decline this week. The Dow Jones Industrial Average dropped 180…
Fundamentally, remittances are cross-border money transfers to support families back home. (AI image) ‘Gulf se paisa aaya hai’ – it’s a common statement in several households across India whose family members work in the Middle East countries. But will this money keep flowing in as much as it does in the wake of the US-Iran…
Benchmark equity indices Sensex and Nifty closed nearly 1 per cent higher on Wednesday, extending their recovery for a third straight session amid a slight easing in crude oil prices and supportive global cues.The 30-share BSE Sensex rose 633.29 points, or 0.83 per cent, to settle at 76,704.13. During the session, it surged as much…
The Union Cabinet on Wednesday approved the construction of a four-lane access-controlled National Highway-927 from Barabanki to Bahraich in Uttar Pradesh at an estimated cost of Rs 6,969.04 crore, aimed at improving connectivity across key economic and logistics centres in the state, according to an official statement.The Cabinet Committee on Economic Affairs (CCEA) cleared the…
Gold prices moved lower across major Indian cities on Wednesday as retail bullion rates tracked weakness in domestic futures amid cautious sentiment ahead of the US Federal Reserve’s monetary policy decision.On the Multi Commodity Exchange (MCX), gold for April delivery fell by Rs 256, or 0.16 per cent, to Rs 1,55,729 per 10 grams in…
