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Top 10 business news today: Tax claims made easy, Mercedes launches SUV GLE, Micromax buys Gaana stake, pulses prices soar to Rs 187/kg, more

Fri October 16 2015, 7:51 am
  • tax claim

    Claiming tax benefit on serious ailment expenses made easy
    Finance Ministry has made it easier to claim tax benefit on expenditure with regard to serious ailments like thalassaemia, cancer, AIDS and haemophilia by doing away with the requirement of obtaining a certificate from a government hospital. The amended rule relaxes the condition of obtaining the certificate for claiming expenditure under section 80DDB in respect of specified ailments from a specialist working in a government hospital. Now, the prescription can be issued by any specialist mentioned in the amended rule. Henceforth, it will not be mandatory to obtain a certificate from a specialist working in a government hospital. (Reuters)

  • mercedes suv gle

    Mercedes launches SUV GLE in India starting at Rs 58.90 lakh
    German Luxury car maker Mercedes-Benz today launched in India SUV GLE that will be produced locally with starting price of Rs 58.90 lakh (ex showroom Delhi) to enhance its position in the market here. The GLE will be available in two variants -- 250d with a 2,143 cc diesel engine priced at Rs 58.90 lakh, and 350d which is powered by 2,987cc diesel engine priced at Rs 69.90 lakh (all prices ex-showroom Delhi). "Our SUV portfolio has grown by 70 per cent year-on-year in the January-September period this year. GLE will be locally produced in India at our Pune plant," Mercedes-Benz India MD & CEO Roland Folger told reporters. (PTI)

  • micromax

    Micromax buys stake in Gaana, to integrate app with handsets
    Country's second largest handset maker Micromax today said it has invested in Gaana, India's largest music broadcast and streaming service. No financial details were disclosed. Under the deal, Gaana will be available on all Micromax smartphones, enabling users to seamlessly enjoy mobile music, a statement said. New users of Micromax smartphones will also receive free trials to Gaana+, allowing unlimited downloads without advertising. (Reuters)

  • pulses price

    Pulses prices shoot up to Rs 187 per kg
    Retail pulses prices have shot up to Rs 187 per kg. Retail prices of tur dal rose up to Rs 181 per kg -- much higher than the cost of chicken -- in most parts of the country, as against Rs 85 per kg in the year-ago period, as per the data maintained by the Consumer Affairs Ministry. Similarly, urad dal prices have increased up to Rs 187 per kg from Rs 99 per kg in the said period. Much of the increase was seen in these two dals, while the increase in prices of moong dal and gram were moderate. (Reuters)

  • investment in india

    India most attractive investment destination globally: EY
    India has been ranked as the most attractive investment destination in the world for the next three years, according to a survey by Global consultancy firm EY released today. Thirty-two per cent of the business leaders from global corporations polled for the survey said India is the most attractive investment destination in the world, followed by China, Southeast Asia and Brazil. The study brings out there is an increased focus and emphasis on manufacturing and India's growth in terms of FDI will be driven by manufacturing. (Reuters)

  • onion

    WPI inflation at (-)4.54%; pulses, onion continue to sting
    Deflationary trend continued for 11th straight month, with WPI inflation remaining in the negative territory at (-)4.54 per cent in September, but the common man continued to reel under the burden of rising prices of pulses and onion. The Wholesale Price Index-based inflation came in at (-)4.95 per cent in August. It has been in the negative zone since November. In September last year, inflation was 2.38 per cent. Inflation in food articles inched up to 0.69 per cent in September, from (-)1.13 per cent in August. Onion and pulses turned costlier, with inflation at 113.70 per cent and 38.56 per cent respectively during September, according to official data released today. Inflation in pulses remained over 36 per cent for four months in a row. (Reuters)

  • lookup

    Lookup raises $2.5 mn from Vinod Khosla, Biz Stone, others
    Lookup, a messaging app that connects shoppers with local businesses, today said it has raised USD 2.5 million (about Rs 16 crore) from Vinod Khosla, Twitter co-founder Biz Stone and Narayana Murthy's Catamaran Ventures, among others. The funds will be employed to expand Lookup's merchant base and branch out into newer geographies, it said in a statement. The Series A funding was led by Vinod Khosla's personal fund Khosla Impact. Twitter co-founder Biz Stone, Narayana Murthy's Catamaran Ventures and Global Founders Capital, the European investment fund from Rocket Internet's Samwer brothers also participated in this round, it added.

  • bofa-ml

    India most favoured among emerging market equities: BofA-ML
    India is the most favoured market for global investors among emerging market equities, followed by China, a BofA-ML report says. According to a survey of fund managers by the global financial major, India and China are the most favoured among emerging market equities, while Australia, Indonesia and Malaysia are "unloved". "Based on our Asia Pacific ex-Japan investor panelists, India moved back to being the market most investors would overweight in October, followed by China, while investors scaled back on their Korea overweight views," the report said. (Reuters)

  • nissan

    Cricket bug grips Nissan, inks 8-year deal with ICC
    Carmaker Nissan has entered into a eight-year deal with the International Cricket Council to further strengthen its ties with global sports, making the Japanese carmaker's first significant foray into the gentleman's sport. Neither the company nor the ICC divulged the commercials of the sponsorship. With this eight-year deal, Japanese Nissan replaces the rival Korean carmaker Hyundai Motor, which had a five-year sponsorship with the ICC. Nissan India president Guillaume Sicard told PTI that though its an international sponsorship, the focus of activities will be India.
    (Image Caption: Arun Malhotra, MD, Nissan India, David Richardson, CEO of ICC, Roel De Vries, Vice President and Global Head of Marketing, Nissan Motors and Guillaume Sicard, President, Nissan India during a press conference to announcing the partnership between International Cricket Counsil and Nissan Motors in Mumbai on Wednesday. (PTI))

  • electricity bill, electricity bill india, electricity bill reduction, india electricity, power cuts, india news

    5. Coal India paid Rs 7,700 crore as royalty to coal-bearing states in 2015-16 at the rate of 14% on an annual production of 550 million tonnes. If the production level remains the same, the company would pay only around Rs 6,000 crore to states if the royalty is reduced to 11%.

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