Business

[ad_1] DGTR suggested measures to protect domestic manufacturers from unfair import pricing. (AI image) India has slapped anti-dumping duties on insoluble sulphur imported from China and Japan. Additionally, the country has levied anti-dumping duty on vitamin-A palmitate imports originating from China, the European Union and Switzerland.Tyre producers utilise insoluble sulphur as a key component to enhance rubber vulcanisation processes, whilst vitamin-A palmitate finds applications in enriched food products and pharmaceutical manufacturing.This action was taken after the Directorate General of Trade Remedies (DGTR) suggested measures to protect domestic manufacturers from unfair import pricing.The Central Board of Indirect Taxes and Customs announced in two separate notifications issued late Friday that these duties take effect immediately and shall continue for five years, according to an ET report.Anti-dumping dutyBased on the investigation conducted in March, the DGTR discovered that these substances were being sold […]

[ad_1] NEW DELHI: India's top four oil suppliers and key members of the OPEC+ alliance, Saudi Arabia, Russia, Iraq, and the UAE have significantly ramped up production and directed a major portion of the additional output to India.Their collective market share has reached approximately 78% in India, the world's third-largest oil consumer. These nations have supplied an additional 375,000 barrels per day (bpd) to India in May compared to April, according to energy cargo tracker Vortexa.The collective increase surpassed their committed additional production of 359,000 bpd under Opec+'s output expansion plan of 409,000 bpd.Russia maintained its leading position among India's crude suppliers due to ongoing barrel discounts.In the OPEC+ May supply increase, Saudi Arabia agreed to raise output by 166,000 bpd, Russia by 79,000 bpd, Iraq by 37,000 bpd and the UAE by 77,000 bpd.Their exports to India increased by […]

[ad_1] NEW DELHI: Reserve Bank of India (RBI) deputy governor T Rabi Sankar was Saturday appointed as a part time member of the 16th Finance Commission, a finance ministry statement said. He will hold office from the date of assuming charge until the submission of the commission’s report or Oct 31, 2025, whichever is earlier.Sankar’s appointment is to fill the vacancy created by the resignation of one of the full-time members of the commission, Ajay Narayan Jha, on personal grounds.The commission was constituted on Dec 31, 2023. The commission is mandated to submit its recommendations by Oct 31, 2025, for the award period of five years, commencing from April 1, 2026. [ad_2] Source link

[ad_1] Hennes & Mauritz (H&M), the fast-fashion retailer that's been listed on the Swedish stock market since 1974, is steadily moving back towards private ownership. The founding family has stepped up purchases of H&M shares, spending more than $6.6 billion since 2016 to amass nearly two-thirds control and fuelling speculation it could take the Stockholm-based company back into private hands - despite denials from family members.The Perssons, one of Sweden's wealthiest families, has ramped up insider buying by reinvesting dividends, boosting its H&M stake to almost 64% from 35.5% over the past nine years through a holding company Ramsbury Invest, saying little about their intentions other than that they "believe" in H&M, founded in 1947 by Erling Persson. [ad_2] Source link

[ad_1] The scheme awards 700 points (Rs 700) for each interview conducted. (AI image) Infosys, India's second-largest software company, has launched a new initiative offering cash rewards to senior staff members who participate in lateral recruitment interviews, aiming to enhance staff engagement.The Bengaluru-based IT firm has introduced this incentive-driven scheme for the first time. The cash benefits are restricted to recruitment within India. This initiative recognises staff contribution to the interview process during a period when the IT industry is prioritising lateral recruitment over campus placements.A staff member indicated that this initiative aims to motivate team managers and mid-level leadership to acquire external talent and encourage employees to connect with high-calibre candidates.The scheme awards 700 points (Rs 700) for each interview conducted. Staff members can claim rewards for interviews dating back to January 1, as the programme is being implemented […]

[ad_1] In a move to bolster digital consumer protection, the Central Consumer Protection Authority (CCPA) has directed all e-commerce platforms to conduct self-audits within three months to identify and eliminate “dark patterns” — manipulative interface designs that mislead users into unintended actions.Issuing an advisory on Saturday, the Consumer Affairs Ministry said platforms must evaluate their digital interfaces for any features that could undermine consumer choice or amount to unfair trade practices. “All e-commerce platforms have been advised to conduct self-audits… and take necessary steps to ensure that their platforms are free from such dark patterns,” the ministry said, as quoted PTI.Dark patterns include practices such as false urgency messages, hidden costs, forced subscription sign-ups, and disguised advertisements. In 2023, the government notified guidelines identifying 13 such deceptive tactics, including basket sneaking, confirm shaming, drip pricing, and interface interference.Platforms are also […]

[ad_1] NEW DELHI: Foreign Portfolio Investors (FPIs) displayed negative investment patterns in the stock market during the initial week of June. FPIs withdrew a total of Rs 8,749 crore from equities between June 2 and June 6, according to NSDL data. This shows that FPIs remained net sellers in the stock market for most of the week. The outflow occurred during a period of global uncertainty and investor caution.A sharp shift was seen on Friday after the Reserve Bank of India’s Monetary Policy Committee unexpectedly cut the repo rate by 50 basis points. The repo rate decreased to 5.5%, strengthening investor confidence.Financial analysts suggest that this substantial rate reduction will enhance India's economic performance and strengthen demand conditions. "June first week saw a roller coaster in terms of FPI flows. The trend is positive as a weak US dollar is […]

[ad_1] In a significant compliance shift under the Goods and Services Tax regime, the GST Network (GSTN) on Saturday announced that the monthly GST payment form GSTR-3B will become non-editable from the July 2025 tax period onward. Starting with returns filed in August 2025, taxpayers will no longer be able to manually alter the tax liability in GSTR-3B once it is auto-populated — with any revisions allowed only through GSTR-1A prior to submission.According to GSTN, any changes in declared outward supplies will have to be made through form GSTR-1A before the GSTR-3B is filed for that same return period. These amendments will then be auto-populated into GSTR-3B and cannot be modified thereafter, PTI reported."From the July 2025 tax period for which form GSTR-3B will be furnished in August 2025, such auto-populated liability will become non-editable," GSTN stated. "Thus, taxpayers will […]

[ad_1] Eminent economist S Mahendra Dev has taken charge as Chairman of the Economic Advisory Council to the Prime Minister (EAC-PM), marking the end of a leadership vacuum at the top of the advisory body since last November.Dev, former Vice Chancellor of the Indira Gandhi Institute of Development Research, succeeds Niti Aayog Vice Chairman Suman Bery, who had been holding additional charge of EAC-PM following the death of Bibek Debroy, the council’s first full-time chairman.The Cabinet Secretariat had earlier announced that the prime minister approved the reconstitution of the EAC-PM for a period of two years or until further orders, whichever is earlier.While full-time members Sanjeev Sanyal, Sanjay Kumar Mishra and Shamika Ravi have been retained, the reconstituted council includes several new part-time members. These include Soumya Kanti Ghosh, group chief economic advisor at State Bank of India.Other part-time members […]