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Top 10 business news today: From attack on Raghuram Rajan, Ramdev on black money, to Apple’s iPhone wish list and more

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Mon June 13 2016, 12:31 pm
  • top ten business news, buisness news, top ten business news today, top business news, latest business news, raghuram rajan, black money, baba ramdev, narendra modi, apple, apple iphone, patanjali products , vijay mallya, kingfisher airlines, vijay mallya debt case, facebook, google, microsoft, coal india

    Raghuram Rajan being attacked for fighting crony capitalism: Colleague: Coming to the defence of Raghuram Rajan, his Chicago University colleague and co-author Luigi Zingales has said the RBI Governor is being attacked for "fighting the inefficiency of the banking system" and for taking on the crony capitalists in the country. Amid a high-decibel debate in India on whether Rajan will get an extension or not beyond his current term ending this September, Zingales said governorship earlier used to be "entrusted to grey bureaucrats that left no impact". "Rajan, however, is the dream of the new India: young, competent, and reached the top of the Indian central bank because of his skill, not because of his political alignment," he wrote in an article. (Reuters)

  • top ten business news, buisness news, top ten business news today, top business news, latest business news, raghuram rajan, black money, baba ramdev, narendra modi, apple, apple iphone, patanjali products , vijay mallya, kingfisher airlines, vijay mallya debt case, facebook, google, microsoft, coal india

    Dissatisfied with Narendra Modi govt on black money issue, says Baba Ramdev: Yoga guru Ramdev today voiced dissatisfaction over "lack of effective steps" being taken by the Centre to bring back the black money stashed abroad. "Because of lack of effective steps (by the government) on the black money issue, I and people in the country are dissatisfied," Ramdev said. "I have spoken with Prime Minister Narendra Modi, Finance Minister Arun Jaitley and BJP President Amit Shah on this issue. When people are listening in Parliament then we should not speak on the street. At least they are listening," Ramdev said. (PTI) For more business news and analyses, follow us @FinancialXpress

  • top ten business news, buisness news, top ten business news today, top business news, latest business news, raghuram rajan, black money, baba ramdev, narendra modi, apple, apple iphone, patanjali products , vijay mallya, kingfisher airlines, vijay mallya debt case, facebook, google, microsoft, coal india

    'Industry can meet Apple's iPhone wish list on purchase assurance': Indian electronics industry is ready to fulfill components wish list of Apple for making iPhone in the country if the smart devices major provides purchase commitment to local firms, says industry body IESA. "If government says fall in line, industry associations are prepared to enter into agreement with Apple and say tell us what your wish list is, we will fulfill it in next 3, 6, 9 and 12 months," India Electronics & Semiconductor Association President M N Vidyashankar told PTI. The Finance Ministry had rejected relaxing the 30 per cent domestic sourcing norms, as sought by iPhone and iPad maker as a pre-condition for bringing in FDI to set up single-brand retail stores in the country. (Reuters)

  • top ten business news, buisness news, top ten business news today, top business news, latest business news, raghuram rajan, black money, baba ramdev, narendra modi, apple, apple iphone, patanjali products , vijay mallya, kingfisher airlines, vijay mallya debt case, facebook, google, microsoft, coal india

    No legal basis for ED action, says Vijay Mallya: A day after the Enforcement Directorate attached assets worth Rs 1,411 crore of Vijay Mallya and one of his companies, the liquor baron today said there is "no rationale nor any legal basis" behind such action and alleged that government agencies are pursuing a "heavily biased investigation" against him. Reacting to the ED action, Mallya said "The assets purportedly attached under PMLA (Prevention of Money Laundering Act) date back to several years prior to the launch of Kingfisher Airlines. There is no rationale nor any legal basis for the series of actions initiated by the ED which is now making it more difficult to raise resources to pay the Banks." (PTI)

  • top ten business news, buisness news, top ten business news today, top business news, latest business news, raghuram rajan, black money, baba ramdev, narendra modi, apple, apple iphone, patanjali products , vijay mallya, kingfisher airlines, vijay mallya debt case, facebook, google, microsoft, coal india

    Adoption of Ind-AS has led to a distortion in revenue and Ebitda as the coal business moves to equity method of accounting, and specific power assets are treated as financial leases.(Reuters)

  • top ten business news, buisness news, top ten business news today, top business news, latest business news, raghuram rajan, black money, baba ramdev, narendra modi, apple, apple iphone, patanjali products , vijay mallya, kingfisher airlines, vijay mallya debt case, facebook, google, microsoft, coal india

    VAT dept recovers over Rs 2 cr from dealers in Delhi: The Delhi government has recovered over Rs 2 crore from more than 200 dealers who were doing business "illegally" in the national capital with the help of its 'Bill Banvao Inam Pao Scheme'. VAT Commissioner S S Yadav said the bills uploaded by people under the scheme have helped in detecting more than 200 people doing business on cancelled TIN or evading tax. "The department has recovered more than Rs 2 crore from the tax evaders caught through the bills uploaded by people. After collecting evidence, the department is now planning to file criminal cases against them in the court of law. On conviction, these evaders may be sentenced to imprisonment for a period of six months," he said. (Reuters)

  • top ten business news, buisness news, top ten business news today, top business news, latest business news, raghuram rajan, black money, baba ramdev, narendra modi, apple, apple iphone, patanjali products , vijay mallya, kingfisher airlines, vijay mallya debt case, facebook, google, microsoft, coal india

    From bad economy, Narendra Modi govt turned India into a 'bright spot', says BJP: Crediting the Narendra Modi government with making India a "bright spot" despite the global economic slowdown, BJP today expressed confidence there will be a "transformation in the lives of the poor" as it reached out to people ahead of next year’s assembly election in UP. In an economic resolution passed at its national executive meeting here, the party claimed India under the "exceptional leadership" of Prime Minister Narendra Modi, has emerged as the fastest growing economy and trained guns on the previous Congress-led UPA governments for leaving behind a "very bad economy". "India has emerged as a bright spot in a world in recession, in which most of the nations are facing a slowdown and decline in growth. After inheriting a very bad economy, amidst global slowdown and successive two years of drought, India under the exceptional leadership of Prime Minister Modi, emerged as the fastest growing economy," it said. (Reuters)

  • top ten business news, buisness news, top ten business news today, top business news, latest business news, raghuram rajan, black money, baba ramdev, narendra modi, apple, apple iphone, patanjali products , vijay mallya, kingfisher airlines, vijay mallya debt case, facebook, google, microsoft, coal india

    Facebook, Microsoft, Google agree to work with Bangladesh govt: Facebook, Microsoft and Google have agreed to work with Bangladesh government over "inappropriate contents" on the Internet, the Parliament was told today amidst a series of brutal killings by Islamists of secular bloggers and minorities. Speaking at a question-and-answer session, State Minister for Telecoms Tarana Halim said that not only social media giant Facebook, but the two internet behemoths, too, have also agreed to respond to the government's request within two days. "After intense discussion with Facebook, Google and Microsoft, it has been agreed that they will respond to requests with 48 hours," she said. Last year, the Bangladesh government suspended the use of Facebook, its messenger app, and some other communication apps for 22 days, citing security reasons following the murder of two foreign nationals and the attack on a police check post. (Reuters)

  • top ten business news, buisness news, top ten business news today, top business news, latest business news, raghuram rajan, black money, baba ramdev, narendra modi, apple, apple iphone, patanjali products , vijay mallya, kingfisher airlines, vijay mallya debt case, facebook, google, microsoft, coal india

    Coal India arms to buyback shares worth Rs 1,978 crore: Coal India's two subsidiaries Mahanadi Coalfields and Northern Coalfields will buyback total shares worth around Rs 1,978 crore from their shareholders. The board of directors of Mahanadi Coalfields Limited on June 11 "has considered and approved the buyback of 4,43,973 fully paid equity shares of face value of Rs 1,000 each from the members of the company on a proportionate basis through tender offer," CIL said in a regulatory filing. The MCL buyback will represent 23.82 per cent of the total number of equity shares in the paid-up share capital of MCL for an aggregate amount not exceeding Rs 1,028.77 crore, maximum buyback size, being up to 25 per cent of the paid-up equity share capital and free reserves as on financial year ended March 31, 2016, it said. The buyback will be at a price of Rs 23,171.89 per equity shares payable in cash, the filing said. (PTI)

  • top ten business news, buisness news, top ten business news today, top business news, latest business news, raghuram rajan, black money, baba ramdev, narendra modi, apple, apple iphone, patanjali products , vijay mallya, kingfisher airlines, vijay mallya debt case, facebook, google, microsoft, coal india

    Ramdev's Patanjali to launch more dairy items,enter cattle feed segment: Yoga Guru Ramdev today said Patanjali will soon launch more dairy products, cattle feed and natural manure as it is aiming total turnover of Rs 10,000 crore by next year. "We will come out with more dairy products like liquid milk. We shall set up 3-4 dairy projects so that farmers can be empowered and people get commodities unadulterated," Ramdev said here today. He said the Patanjali Group would focus on six sectors natural medicine, natural food, natural cosmetics, dairy products, cattle feed and natural manure in a big way. "We will reach a total turnover of Rs 10,000 crore next year," he said. "We are coming out with cattle feed without any urea in it which will be beneficial for cattle," Ramdev said. (PTI)

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    albin
    Jun 15, 2016 at 3:32 am
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      albin
      Jun 15, 2016 at 3:32 am
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