NEW DELHI: Introduction of goods and services tax has come as a boon in a totally unexpected way for Hyundai Motor, the second largest producer of passenger vehicles in India.

The new nationwide indirect tax system has allowed the company to do a stockyard rationalisation, as it doesn't have to keep finished products locally for tax optimisation.

US President Donald Trump today urged the Congress to pass a legislation that promotes merit- based immigration, a move that would benefit hundreds of thousands of Indian professionals.

He proposed a pathway to citizenship for almost 1.8 million illegal immigrants who were brought in the US by their parents at a young age.

Key indices on Wednesday opened lower over weak global cues. The benchmark BSE sensex opened lower around 25.75 points or 0.07% at 36,007.98, while the Nifty was down 9.90 points or 0.09% at 11039.80.

At 9:48 AM, Nifty was down with 6.30 points at 11,043.35, while Sensex was at 35,973.68.

Facebook Inc said on Tuesday it will ban ads promoting financial products and services tied to cryptocurrencies and initial coin offerings.

"We've created a new policy that prohibits ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, and cryptocurrency," Facebook's product management director, Rob Leathern, said.

The government and World Bank on Tuesday signed a $100 million (about Rs 6,400 crore) loan agreement to promote rural economy in selected blocks of Tamil Nadu across 26 districts, benefiting over 4 lakh people.

The funding aimed at promoting rural enterprises, facilitate their access to finance, and create employment opportunities for youth particularly women, the finance ministry said in a statement.

State-owned thermal power giant, NTPC has listed $6 billion (about Rs 40,000 crore) medium-term note (MTN), a debt instrument on IndiaInternational Exchange at IFSC, GIFT City (India INX).

With this, NTPC has become India's first quasi-sovereign company to list at India INX. Company officials said the listing will help NTPC raise funds at lower costs from international investors and also allow foreign investors to access good quality Indian debt paper.

New Delhi: Chief Minister Arvind Kejriwal on Tuesday said his government will move the Supreme Court seeking a temporary ban on the sealing drive even as a meeting between Delhi Bharatiya Janata Party (BJP) leaders and the chief minister on the issue could not materialise with both sides blaming each other.

A BJP delegation led by Delhi unit president Manoj Tiwari walked out of the chief minister’s residence ahead of the meeting, alleging that the Aam Aadmi Party (AAP) government wanted to “divert” the issue.

India has been ranked sixth in the list of wealthiest countries with total wealth of $8,230 billion, while the United States topped the chart, says a report. According to a report by New World Wealth, the United States is the wealthiest country in the world as the total wealth held in 2017 amounted to $64,584 billion, followed by China at the second place with $24,803 billion and Japan with $19,522 billion at third.

A firm believer in formal banking systems, eminent banker Uday Kotak feels gold is the only alternative currency that has worked ever without any state support and sees no regulatory backing in immediate future for numerous crypto currencies that have cropped up. The most famous among all, bitcoin has been seeing a huge traction lately even as its prices have been extremely volatile, surging to close to USD 20,000 per unit a few weeks ago but only to fall below USD 10,000 soon after.

Confident that automation and artificial intelligence will help businesses upscale and grow bigger, a top TCS executive says the job loss fears in the IT industry are highly exaggerated and it is the organisation’s responsibility to reskill and upskill its workers. Chief Operating Officer N Ganapathy Subramaniam, who has been with TCS for 35 years and is known as NGS among colleagues, said the ‘change’ is the only constant in the IT industry and internally his company uses it as an acronym -‘Change Has Another Name, Gaining Excellence’.

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