New Delhi: The new service tax rate of 14% will come into effect from 1 June, the government on Tuesday said, in a move that will make eating out in restaurants, insurance and phone bills expensive, among many other things.

The service tax is currently levied at the rate 12.36% including education cess. Top official sources said that the new rate of 14% announced by finance minister Arun Jaitley in his budget for 2015-16 would come into effect from 1 June.

Bengaluru: Less than a year after taking the helm of India’s second-largest software services exporter, Infosys Ltd’s chief executive officer (CEO) Vishal Sikka is a lot surer about which way the company is headed.

“I’m vastly more confident and comfortable about the future,” Sikka, 47, said in an interview. “Most people do not really understand what it was like when I started. We needed to stabilize then. And now, we all are excited. People are excited because they know they are involved in something great.”

Mumbai, May 19: Reliance Industries Ltd (RIL) today said it has raised $200 million by selling Formosa Bonds in Taiwan.

These are bonds that are issued in Taiwan, but are denominated in a currency other than the new Taiwanese dollar.

BENGALURU: Wipro is building an army of Unicorns that can bounce between code and design as it moves into the new world of artificial intelligence, analytics and robotics.

India's third-largest IT services company is training 20,000 employees to become what it calls Unicorns — people who have a breadth of technology knowledge to define the big picture — as the battle for highly-skilled digital workforce is getting fierce.

New Delhi: The valuation of holdings by domestic institutional investors (DIIs) in NSE-listed firms hit a 6-year high of Rs 10.21 lakh crore at the end of March 2015 on account of buoyant markets, says Prime Database.

In percentage terms, DII holding in NSE-listed companies went up to 5.01 per cent at the end of March 31, 2015, from the year-ago level of 4.58 per, on an aggregate basis.

NEW DELHI: Capital markets regulator Sebi has sought clarification from merchant bankers of five firms including Amar Ujala Publications and Dilip Buildcon regarding their proposed initial public offers (IPOs).

The other companies from which Sebi has sought information are S H Kelkar and Company, Pennar Engineered Building Systems and Syngene International.

Lenovo S60, a mid-range smartphone with a 5-inch HD display, was launched at a price of Rs 12,999.

The new smartphone in Lenovo’s S-series is powered by a 64-bit 1.2GHz quad-core processor and runs Android 4.4 KitKat OS. The operating system can be updated to the Android 5.0. It has has a 13 MP rear camera and 5 MP front camera.

State-owned ONGC has approached the Ministry of Environment and Forests (MoEF) seeking clearance for drilling 45 Development Wells and other related infrastructure involving a cost of over Rs 53,000 crore in Krishna-Godavari basin.

An expert appraisal committee (EAC) under the MoEF, however, sought more information in this regard.

The benchmark BSE Sensex fell over 75 points in early trade today as stocks of oil&gas, PSU, metal, healthcare and banking companies succumbed to profit-booking after two sessions of gains.

The 30-share index declined by 75.33 points or 0.27 per cent to 27,611.97. In the previous two sessions, the gauge gained 481.24 points.

MUMBAI: After Dimsum, Sushi, Samurai, Rolex, Kangaroo, Bulldog or even Dragon it's now the turn of Formosa bonds. Reliance IndustriesBSE 0.56 % - India's savviest as well as the largest borrower overseas - has just raised $200 million through a fresh bond issuance in the hottest bond market in Asia Taiwan.

According to to multiple sources directly involved with the transaction, RIL has raised 20 year debt paper on Monday, the first from India Inc to do so. Incidentally, RIL will also be the first Asian energy company to tap the Formosa market.

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