Category: BUSINESS

New Delhi, Jul 21 (DIN NEWS) Conceding a year long demand, sanitary pads today exempted from GST as the GST Council reduced tax rates on an array of daily use appliances and products. While GST tax on sanitary pads was cut from 12 per cent to zero, rakhis were exempted from the tax, Finance Minister Piyush Goyal told reporters here. “Sanitary napkins exempted from GST,” Goyal said. Among items on which GST was reduced include footwear, small televisions, water heater, electric ironing machines, refrigerators, lithium ion batteries, hair dryers, vacuum…

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Virginia Beach, Jul 20 (DIN NEWS) Google says it will string a trans-Atlantic cable from France to Virginia. The web giant said in a statement this week that the undersea cable will land stateside in Virginia Beach. It’s expected to become operational in 2020. Google said the project will better serve customers with an expanded network. Internet traffic across the Atlantic is among the busiest. The cable will also support growth of Google Cloud. And it will land in relative proximity to Google’s planned data center in northern Virginia. The…

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Mumbai, Jul 20 (DIN NEWS) The rupee recovered from its all-time low, rising 9 paise to 68.96 against the American currency in late morning deals on bouts of dollar-selling from banks and exporters amid higher domestic equities. The rupee rose to 69.01 from yesterday’s record closing level of 69.05 at the interbank foreign exchange here. The volatile domestic unit later slid to a fresh life-time low of 69.13 before recovering to 68.94 in morning trade; it was quoting at 68.96 at 1030 hrs. The rupee is already under pressure amid…

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Mumbai, Jul 19 (DIN NEWS) The benchmark Sensex turned volatile after opening on a positive note in early trade today amid weakness in banking, pharma, metals, realty and IT stocks. The 30-share index was trading flat at 36,373.23 after beginning the session 142.14 points higher. The index had lost 146.52 points in the previous session. All sectoral indices were trading in the red. Midcap stocks bled with MindTree, UBL, PC Jeweller falling up to 7 per cent. The NSE Nifty dropped below the 11,000 mark, falling 24.75 points, or 0.23…

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Mumbai, Jul 19 (DIN NEWS) Erasing early gains, the Sensex ended lower by 22 points at 36,351.23 in range-bound trade today amid lower-than-expected results. Investors were not in a mood to make fresh bets ahead of the voting on the no-confidence motion against the NDA government tabled in the Lok Sabha, brokers said. A depreciating rupee, which again breached the 69-mark against the dollar in intra-day trade, too weighed on sentiment, they added. The Sensex opened higher and advanced to hit a high of 36,515.58, but soon turned lower and…

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Finance Minister Piyush Goyal today moved the fugitive economic offenders bill in Lok Sabha to give authorities power to attach and confiscate the proceeds of crime and properties of fraudsters and loan defaulters who flee the country. The bill will replace the Fugitive Economic Offenders Ordinance which was promulgated by the President in April. “This is the first time in the last 70 years after independence that such a strict measure has been taken against the fugitive economic offenders,” Goyal said while moving the bill. The bill provides for measures…

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Discussions are on with Singapore for development of cruise tourism at various locations in India, Union Minister Nitin Gadkari said today. Keen on promoting cruise tourism on a mega-scale in the country, the road transport, shipping and water resources minister said Mumbai alone is expected to see 950 cruise vessels in the next five years. He was addressing a delegation from ASEAN (Association of Southeast Asian Nations) here. “About one lakh tourists from India visit Singapore for cruise tourism. There is much scope for developing cruise tourism in India and…

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Mumbai, Jul 17 (DIN NEWS) Retail giant Walmart today said it has entered into a five-year partnership with Microsoft to leverage its cloud solutions for making shopping faster for its customers globally. As part of the partnership, Walmart will tap into the full range of Microsoft’s cloud solutions, including Microsoft Azure and Microsoft 365, for enterprise-wide use to help standardise across the company’s family of brands, the Bentonville Arkansas-based firm said in a release. Walmart and Microsoft engineers will collaborate on the assessment, development, and support phase of moving hundreds…

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Mumbai, Jul 17 (DIN NEWS) Benchmark BSE Sensex today rebounded by over 196 points to close at 36,519.96 while NSE Nifty settled above the 11,000 level as oil, metal and PSU stocks rallied after a sharp drop in global crude oil prices. Sentiment got a boost after global crude oil prices dropped by over 4 per cent yesterday owing to oversupply fears, helping the rupee to strengthen against the dollar, brokers said. Besides, reports that the finance ministry is likely to infuse about Rs 10,000 crore within a few days…

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New Delhi, Jul 16 (DIN NEWS) Shares of Infosys rose by nearly 6 per cent to hit its one-year high level today even as the company posted a lower-than-expected earnings for the quarter ended on June 30, 2018. The stock, after a positive opening, further gained 5.75 per cent to Rs 1,384.40 — its 52-week high — on BSE. On NSE, shares of the company surged 5 per cent to hit a one-year high of Rs 1,384.40. The stock was the biggest gainer among the blue chips on both indices…

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