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Growth in the eight key infrastructure sector remained stable in May, although electricity generation, crude oil and natural gas production contracted. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/WpM15NK

The finance ministry Friday clarified the threshold of Rs 7 lakh for the liberalised remittance scheme is the combined level for calculating tax collected at source (TCS), irrespective of the purpose of remittance such as medical treatment and education. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/p9ET2ji

The government has left interest rates on most small savings schemes unchanged, barring five-year recurring deposits, which will fetch 6.5% during the July-September quarter 30 basis points higher than the current level. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/n5Pd7Lb

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With Friday being the last date for updating 50% of locker agreements, banks are urging customers to sign the new contracts. But lack of uniformity, even between branches of the same bank, is proving to be a hurdle. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/jGTEMyI

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During the recent state visit of Prime Minister Narendra Modi to the US, both countries decided the termination of six WTO (World Trade Organisation) disputes and the removal of these retaliatory tariffs on certain US products. In 2018, the US imposed an import duty of 25 per cent on steel products and 10 per cent on certain aluminium products on grounds of national security. In retaliation, India in June 2019 imposed customs duties on 28 American products. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3srLe0I

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The US Attorney’s Office in Brooklyn and the Securities and Exchange Commission are investigating the Adani Group following short seller Hindenburg Research’s report accusing it of using offshore companies to manipulate share prices. The US probes focus on what Adani group told institutional investors with large holdings, adding to regulatory scrutiny of one of India's biggest conglomerates. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/bh4KDvd

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NIIF is India’s first major attempt to develop a capital-raising structure on home soil, to tackle a shortfall in infrastructure spending. Investors include Abu Dhabi Investment Authority and Singapore’s Temasek Holdings Pte, according to its website. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/h86LSrk

PM Modi's visit to the US is being timed well with India's buzzing economy and equity benchmarks at record highs. The country's burgeoning consumer market and the pandemic-propelled retail investing boom have driven almost $10 billion in net foreign inflows into Indian stocks since March, making it the highest in any quarter since 2020. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/LbBZEkO

The US state department is reportedly set to announce a pilot program that will allow a small number of Indians and other foreign workers on H-1B visas to renew them in the United States, without having to travel abroad. Indian citizens are the most active users of the US H-1B program, and made up 73% of the nearly 442,000 H-1B workers in FY2022. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/boq73aG

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Employees are suing Twitter over tens of millions of dollars in bonuses they say the social media company failed to pay despite promises it would.The lawsuit filed Tuesday in federal court in San Francisco claims that in the month's leading up to billionaire Elon Musk's acquisition of the company, executives including former finance chief Ned Segal “repeatedly” promised employees that 50% of their 2022 bonuses would be paid. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/E5bGj8W

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Edtech major BYJU's has laid off close to 1,000 employees across departments as part of its restructuring process, sources aware of the development said on Monday.The fresh round of firing comes at a time when the company has entered into a legal battle with lenders in the US for USD 1 billion term loan B. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/dzXGh95

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Peak power demand is unlikely to touch or cross 229GW in summer this year due to unseasonal rains and the after-effects of cyclonic storm Biparjoy in the country, say industry experts. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5EpmSYt