The New Indian Express Business News

  • Business

    Two years' bonus for central government employees: Jaitley

    NEW DELHI: Around 33 lakh employees of the central government had a reason to cheer on Tuesday with the government announcing their annual bonus that has been pending for two years."The bonus entitlement for 2014-15 and 2015-16 will be released on the revised norms for central government employees. This was pending for two years. After this, the bonus will be covered under the 7th...

    • 9 hrs ago
  • Business

    EU orders Apple to pay up to 13 billion euros tax to Ireland

    BRUSSELS: EU antitrust regulators ordered Apple on Tuesday to pay up to 13 billion euros ($14.5 billion) in taxes plus interest to the Irish government after ruling that a special scheme to route profits through Ireland was illegal state aid. The massive sum, 40 times bigger than the previous known demand by the European Commission to a company in such a case, could be reduced, the EU...

    • 12 hrs ago
  • Business

    Apple says will appeal EU tax ruling

    BRUSSELS: Apple vowed Tuesday to appeal an EU ruling ordering it to pay a record 13 billion euros in back taxes in Ireland, saying the decision would harm jobs and investment in Europe. "We will appeal and we are confident the decision will be overturned," the US company said in a statement after the European Commission decision that Dublin's tax breaks for Apple were illegal. "It will...

    • 12 hrs ago
  • Business

    Nifty hits 16-month high on positive earnings

    MUMBAI:The NSE Nifty closed up 1.6 percent on Tuesday after earlier hitting its highest in 16 months as positive earnings results including from DLF Ltd <DLF.NS> lifted sentiment. The Nifty hit its highest since April 15, 2015 before ending 1.59 percent higher at 8,744.35. It was the index's biggest daily percentage gain since July 11. The benchmark BSE Sensex closed up 1.58 percent at...

    • 12 hrs ago
  • Business

    Government to amend Drugs Prices Control Order in 15 days

    NEW DELHI: Union Minister Ananth Kumar on Monday said that Drugs (Prices Control) Order, (DPCO) 2013 will amended in the next 15 days to enable the National Pharmaceutical Pricing Authority (NPPA) fix prices of about 350 medicines whose market data is not available. "To bring the medicines under the price control, we need to tweak the DPCO. In next 15 days, we are going to make the...

    • 12 hrs ago
  • Business

    Excise, VAT exempted goods by states should be GST exempt: FICCI

    NEW DELHI: India Inc. proposed on Tuesday that goods fully exempted from excise duty and VAT by states be categorised as exempted goods in the GST regime, which should be implemented after a minimum of 6 months from the date of adoption of the GST law by the GST Council."Goods fully exempted from the levy of excise duty and VAT by all the states be categorised as exempted...

    • 12 hrs ago
  • Business

    Indian equity markets rise on strong buying support

    MUMBAI: Indian equity markets were on Tuesday buoyed by strong buying support across sectors, coupled with positive global cues.Consequently, the key indices provisionally closed the day's trade with gains of more than a 1.5 per cent each, as healthy buying was witnessed in automobile, banking and healthcare stocks.The wider 51-scrip Nifty of the National Stock Exchange (NSE) surged by...

    • 12 hrs ago
  • Business

    Government to amend DPCO in 15 days

    NEW DELHI: Union Minister Ananth Kumar on Monday said that Drugs (Prices Control) Order, (DPCO) 2013 will amended in the next 15 days to enable the National Pharmaceutical Pricing Authority (NPPA) fix prices of about 350 medicines whose market data is not available. "To bring the medicines under the price control, we need to tweak the DPCO. In next 15 days, we are going to make the amendment to empower...

    • 16 hrs ago
  • Business

    Deloitte urges UK not to restrict skilled migrants after Brexit

    LONDON: Global accountant Deloitte has called on Britain's government not to clamp down on skilled migrants following Brexit, saying it could backfire on the economy. Britain's vote in June on to leave the European Union means many banks and other financial firms will need advice from firms like Deloitte on whether to relocate business to the continent. David Sproul,...

    • 16 hrs ago
  • Business

    Sustainability certified India tea estates violate worker rights

    CHENNAI: Tea estates in southern India are hiring temporary workers during peak plucking season and denying these labourers basic rights as required by law, said a report released on Tuesday. A survey in of Tamil Nadu at two tea estates - both certified by the international nonprofit Rainforest Alliance - found that in 2015, up to half of the workforce were temporary workers, and...

    • 17 hrs ago

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