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- Amazon to include 10k EVs in delivery fleet by '25on January 20, 2020 at 7:31 am
E-commerce major Amazon India on Monday said its fleet of delivery vehicles in the country will include 10,000 EVs by 2025. Amazon's rival, Flipkart had in June last year said it aims to replace 40 per cent of its delivery vans with electric vehicles (EVs) by March this year.
- 'India's Mideast oil imports falls to 4-year low'on January 20, 2020 at 6:41 am
India's imports of Middle Eastern oil plunged to a four-year low in 2019, tanker data obtained from sources shows, as the energy-hungry nation diversifies its supplies to cut costs and help shield itself from geopolitical tensions.
- Budget 2020: Things to know about 'halwa' ceremonyon January 20, 2020 at 6:11 am
The official printing of the Union Budget 2020 documents starts with the 'halwa'-making ceremony. As part of the ritual, 'halwa' is prepared in a big 'kadhai' (large frying pot) and served to the entire staff in the finance ministry.
- We are cannibalising our own business: TCS COOon January 20, 2020 at 4:58 am
"The right thing for us to do is to disrupt ourselves. Revenue cannibalisation is integral to our growth strategy. If we don’t disrupt ourselves somebody else will,"TCS COO NG Subramaniam said in an interview with TOI.
- Too small to retaliate against India: Malaysian PMon January 20, 2020 at 4:15 am
Malaysia is too small of a nation to respond to India's boycott of palm oil with trade retaliation, Prime Minister Mahathir Mohamad said on Monday. "We are too small to take retaliatory action. We have to find ways and means to overcome that," Mahathir said. India this month halted Malaysian palm oil imports after Mahathir's comments on Kashmir and CAA.
- 'India's richest own 1% more than 4X of 70% poor'on January 20, 2020 at 2:27 am
India's richest 1 per cent hold more than four-times the wealth held by 953 million people who make up for the bottom 70 per cent of the country's population, while the total wealth of all Indian billionaires is more than the full-year budget, rights group Oxfam said on Monday.
- 'Govt must reveal real fiscal deficit in Budget'on January 20, 2020 at 12:56 am
Amid calls for easing the fiscal deficit target to boost spending and accelerate growth, experts, including NITI Aayog, have urged the government to be transparent in revealing the actual deficit rather than resort to below the line and offbudget numbers to show a better picture.
- Sitharaman hints at status quo on GST rateson January 20, 2020 at 12:53 am
Union finance minister Nirmala Sitharaman on Sunday said she had sought an assessment of the full year collection of GST before rationalising rates, indicating that a proposal by a panel of officers to increase levies may wait until April. The GST Council is the final decision-making body on rates and rules and has to meet at least once in three months.
- '1m jobs shouldn’t come at cost of several more'on January 19, 2020 at 11:15 pm
"We value the one million jobs that are going to be created but that should not be at the cost of several million jobs that may be lost because their focus only being on the supply side. As government, we have to focus on supply as well as the retail, " Union minister Piyush Goyal responded to Amazon's Jeff Bezos claim of creating a million jobs in India.
- Govt moves to limit duty-free alcohol to 1 bottleon January 19, 2020 at 7:42 pm
The commerce and industry ministry has proposed to reduce the number of alcohol bottles and cigarette packets that a passenger can buy at duty-free outlets when returning from an overseas trip, while also seeking a cut in the value of goods and gifts that one can get in without paying duty, which is currently fixed at Rs 50,000.
- 'Announce convergence of all corp tax rates to 15%'on January 19, 2020 at 9:38 am
The Confederation of Indian Industry has urged the Centre to converge multiple corporate tax rates to 15 per cent by April 2023 without any exemptions, and make the announcement in the upcoming Budget to facilitate investment decisions. According to the industry body, the desired impact of the reduction in corporate taxes on the ground is still far from satisfactory.
- Govt considering specific excise duty on ATFon January 19, 2020 at 7:59 am
- India, Malaysia palm row: Davos diplomacy likelyon January 18, 2020 at 5:39 pm
- HDFC Bank Q3 net profit up 33% on loan growthon January 18, 2020 at 11:10 am
HDFC Bank Ltd, India's largest private lender, on Saturday posted a nearly 33% jump in standalone net profit for the quarter to December helped by growth in its loans portfolio.
- $5tn eco goal difficult, not impossible: Gadkarion January 18, 2020 at 11:07 am
Union road transport and highways minister Nitin Gadkari said on Saturday that the goal of making India a $5 trillion economy by 2024 was "difficult but not impossible".
- WEF 2020 in Davos: Goyal to lead Indian delegationon January 18, 2020 at 9:59 am
Commerce minister Piyush Goyal will lead the Indian delegation to the 50th World Economic Forum at Davos from January 20 to 24. Goyal will also participate in an informal WTO Ministerial gathering being held in Davos during this period, the commerce ministry said in a statement.
- HK airline forces passenger to take pregnancy teston January 18, 2020 at 5:38 am
A Hong Kong airline forced a Japanese woman to take a pregnancy test before allowing her on a flight to a Pacific island Saipan popular with mothers seeking US citizenship for their babies. Midori Nishida, 25, was escorted to a public toilet at Hong Kong airport and told to urinate on a strip in November before being granted permission to board her flight.
- Too many obstacles to do biz in India: Chandraon January 18, 2020 at 12:37 am
India is fraught with micromanagement and suspicion, and upping the growth trajectory requires removing the obstacles that impede businesses, Tata Sons chairman N Chandrasekaran said. "We need to reimagine our economic and business culture. Culture is most critical. Growth must not come from pushing hard. It (growth) will come by removing obstacles,” he said.
- Piramal sells health insight biz to US co for $950mon January 17, 2020 at 10:30 pm
Piramal Enterprises (PEL) is divesting its healthcare insights and analytics business — Decision Resources Group (DRG) — to US-based Clarivate Analytics for $950 million (around Rs 6,500 crore). PEL had invested $650 million in 2012 to acquire DRG, of which $260 million was infused as equity.
- India 2nd largest in the world for app downloadson January 17, 2020 at 10:30 pm
At 19 billion, app downloads in India in 2019 grew a whopping 195% from 2016 compared to worldwide growth of 45%. Download growth in the US was just 5% during the period, while China saw 80% growth. As a mobile-first country, India registered the strongest three-year growth among the top five app economies becoming the second-largest market for app downloads.