Economy

India likely to ink FATCA this week

India and the US have moved closer to putting in place a framework to track down the assets that nationals of each country hold in the other nation without reporting to domestic tax authorities.

Capital gains tax to be collected on sale of assets reported under black money law

Ill-gotten foreign assets of tax evaders disclosed under the ongoing three-month amnesty period would attract not just 60% tax and penalty, but also capital gains tax when these assets are sold eventu

Gold falls on higher dollar ahead of euro zone summit on Greece

Gold fell on Tuesday as the dollar climbed and investors assessed a further fall in Chinese shares and awaited an emergency euro zone summit on Greece as the country's banks face potential collapse.

DIPP clarifies on rules for single-brand retail business

The government on Tuesday reiterated the extant position that non-resident entities can undertake single-brand retail trading (SBRT) business in India, but clarified that such entities can do so throu

Telecom minister Ravi Shankar Prasad comes down on operators over call drops issue

Telecom minister Ravi Shankar Prasad on Tuesday ordered a special audit of the networks of mobile operators in his attempt to address the problem of frequent call drops.

payments bank

United States trade deficit widens on fall in exports

The U.S. trade deficit widened in May, fueled by a drop in exports that could heighten concerns over weak overseas demand and a strong U.S. dollar.

Greece says made credit proposal based on last week plan

Greek officials said on Tuesday they had submitted credit proposals to euro zone partners based on those it put forward last week, rejecting suggestions that Athens had not put forward new proposals f

MNREGA world’s largest public works programme: World Bank

India's rural employment guarantee programme MNREGA has been ranked as the world's largest public works programme, providing social security net to almost 15 per cent of the country's population, Worl

Demand for power projects could revive in year 2017: Ravi Arya, Hindustan Power

Hindustan Power Projects Pvt Ltd (HPPPL), formerly Moser Baer Projects, forayed into coal-based thermal power projects over three years ago, on the back of a memorandum of understanding (MoU) with the

Eroding Authority

The 12 public sector, or major ports, have been campaigning hard for abolishing the Tariff Authority for Major Ports (Tamp) for a few years, but perhaps the time for Tamp to go is now, than later.

Mixed results for India in MDG achievements

As the Millennium Development Goals (MDGs) set by United Nations reach their December 2015 deadline (started in 2000), India has made notable progress towards reaching the goals, but achievement varie

State electricity boards’ losses widen to Rs 3 lakh cr: Icra

The debt-laden state electricity boards' accumulated losses have widened by 58% to a whopping Rs 3 lakh crore in the two years to March 31, 2014, Icra said in a report.

Accused of overcharging, UK energy firms could face price cap

Britain's largest energy suppliers could face a price cap after a competition watchdog found they overcharged households by around 1.2 billion pounds each year ($1.9 billion) between 2009 and 2013.

Cartoonist cyber-bullied as Greek politics turn sour

One of Greece's most popular cartoonists has pulled down his Facebook page after what appeared to be a concerted attack by pro-government cyber bullies.

Interim Iran nuclear deal extended to Friday to allow more talks-U.S.

An interim nuclear agreement between Iran and six major powers will be extended through Friday to provide more time for talks on a final agreement, the United States said on Tuesday.

Global funds not exposed to China rout, but broader risks loom

A three-week, 30 percent slide in the world's second-biggest equity market has had only a glancing effect on emerging market portfolios still light on China's Shanghai stocks, but the economic fallout

Euro zone leaders’ comments on Greece as they arrive in Brussels

Following are comments from euro zone leaders arriving in Brussels for an emergency summit on Greece.

Prominent economists urge Angela Merkel to change course in Greece crisis

Greece crisis: Prominent economists called on German Chancellor Angela Merkel to change her policy course and stop "force-feeding" the Greek people "never-ending austerity" in an open letter published

angela merkel

BRICS nations agrees to create $100 bn forex pool

The 5-nation BRICS group today signed an agreement to create a USD 100 billion pool of foreign- exchange reserves to help each other "in case of any problems with dollar liquidity", with India chippin

NGT raps Indian Railways for failure to check littering on tracks

The National Green Tribunal today pulled up the Railways for its failure to check littering on tracks near New Delhi railway station, saying "you are creating havoc in the society".

Brussels functionaries bewildered by Greece

Named after a founding father of the European Union, Brussels' busy Schuman roundabout lies at the heart of the bloc.

German Vice-Chancellor takes swipe at Britain over asylum seekers

German Vice Chancellor Sigmar Gabriel criticised Britain on Tuesday for not taking part in a European plan to share the burden of taking in desperate people fleeing war and poverty in North Africa and

Govt orders special audit of mobile networks to check call drops

Expressing "serious concern" over the problem of frequent call drops, government today ordered a special audit of mobile networks and said regulator TRAI has been asked to formulate a system of "incen

AAP intensifies demand for referendum over Delhi statehood

Intensifying its demand for referendum on the issue of statehood of Delhi, the AAP today said it will work with the Delhi government and "engage" its volunteers to seek a solution on the contentious i

From rats to yellow tomatoes: the new EU business model

A Soviet-era rubbish dump in a swamp on the outskirts of Riga was once an obstacle to Latvia's European Union membership. Now, it's becoming a model of the resource use and waste management EU policym

New United Nations development goals will drive nations ‘nuts’: NITI Aayog’s Bibek Debroy

Bibek Debroy, an Indian economist and member of a key government panel which formulates policy on social issues slammed the United Nations' new development goals on Tuesday, saying that having so many

Bibek debroy on indian economy

EU’s Juncker challenges Greeks, Germans to avoid Grexit

Jean-Claude Juncker, the EU's chief executive, chided the Greek government and his own German critics on Tuesday and pledged to counter those he said were secretly trying to force Greece out of the eu

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