Parliament passes bill to set up unified body to regulate IFSCs
Speaking in the Upper House, Finance Minister Nirmala Sitharaman said the authority would also be responsible for regulating any other IFSC centre which comes up in the country in future as well. She was responding to Congress member Jairam Ramesh who said the authority has been set up to just cater to one centre in Gandhinagar.
Elara Capital initiates buy on Adani Ports, target price Rs 444
Adani Ports is a key beneficiary of consolidation in the ports and logistics businesses despite the slowdown.
Govt carrying out reforms to boost economy: Piyush Goyal
Piyush Goyal said as regards reforms in the tax system, it is stated that through the Taxation Laws (Amendment) Ordinance, 2019 (the Ordinance), corporate tax rates were reduced to 22 per cent plus the applicable surcharge and cess for all domestic corporate persons not claiming any deduction or incentive.
Share market update: Infra stocks gain; Adani Ports up over 2%
The Nifty Infrastructure index was trading 0.42 per cent up at 3252.
Sell Adani Ports & Special Economic Zone, target Rs 374: Kunal Bothra
Sell Adani Ports & Special Economic Zone Ltd. at a price target of Rs 374.0 and a stoploss at Rs 389 from entry point.
New World Fund sells Adani Ports shares worth Rs 401 crore
Bulk deal data on the BSE showed that 1,06,87,163 scrips were sold at an average price of Rs 375.34 apiece.
Many units in Nokia Telecom SEZ may reopen by March 2020
Last week, Finnish company Salcomp, acquired by Chinese firm Lingyi iTech, sealed a deal to buy the one million sq ft Nokia factory inside the SEZ. Salcomp had also recently purchased the 300,000 sq ft unit of Lite-on Mobile factory inside the special economic zone. Salcomp India managing director Sasikumar Gendham said most companies are adopting a “China Plus One” strategy.
Chabahar Port functional & Indian company handling cargo: MEA in Lok Sabha
India Ports Global Limited took over port operations in December 2018 and has been successfully handling cargo since then, according to a written reply provided by MEA to Lok Sabha responding to a query on status of India’s role in the strategically located port.
Adani Ports & SEZ Q2 profit surges 73% to Rs 1,059 crore on one-time tax benefit
Revenue for the quarter rose 8.1 per cent to Rs 2,821.60 crore from Rs 2,608.01 crore
Nomura renews 4.5 lakh sq ft Powai office lease 2 years ahead of scheduled expiry
The commercial building is a special economic zone (SEZ) which came into Brookfield’s commercial portfolio following the Canada-based investor’s acquisition of Hiranandani Group's offices and retail space in Mumbai’s Powai suburb for about $1 billion in 2016.
Government to allow SEZ services' units to accept payments in rupee from DTA players
At present, domestic firms are required to pay in foreign exchange for services rendered by a SEZ unit. However, this norm is not applicable for sale of goods, for which payments could be made in the rupee terms.
Why India needs to stop betting on MEIS scheme to boost exports
When the Nirmala Sitharaman-led Ministry of Commerce and Industry took almost a year in office to introduce the new Foreign Trade Policy (FTP) in 2015, there were expectations that it would usher in a new era in India's trade.
Eaton opens its first aerospace manufacturing facility in Bengaluru
The company has invested 10 million USDs in the Phase I of aerospace manufacturing facility. It plans to recruit anywhere between 100 to 200 employees in phases.
Tripura gets its first-ever SEZ
The proposal involves estimated investment of Rs. 1550 crores and generates estimated employment to the tune of 12000.
IT to get tax relief from redefined ‘intermediary’
GST Council may stop levying tax on IT/ITeS intermediary service providers’ back office work for foreign clients. The issue had come to the fore following a decision of the Maharashtra Appellate Authority for Advance Ruling (AAAR) that had held in a ruling in February that back-office support services did not qualify as “export of service”
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