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When it opens its doors this spring on May 1, 2024, the newest Four Seasons Resort in Mexico will embody Mexican charm while embracing the glamor of modern luxury on the remote East Cape of Los Cabos in Baja California.  ... via JustLuxe.com from JustLuxe: LuxuryTravel News https://ift.tt/M2vwQK4

India criticizes the US for blocking WTO appellate body appointments, resulting in loss of credibility. Talks on investment facilitation and the Doha Development Agenda have deadlocked. WTO officials downplay the impact of a collapse. US Trade Representative rejects a deal on dispute settlement. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/WBZ4Vx1 >

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Vijay Shekhar Sharma, the founder of Paytm Payments Bank, has resigned as the non-executive chairman of the bank's board, following the Reserve Bank of India's restrictions on the bank's operations. Bhavesh Gupta, the nominee director of the bank's parent company, One97 Communications, has also stepped down. However, Sharma will continue to lead One97 Communications, and Paytm app will function as a third-party application provider for UPI transactions. The bank has appointed Srinivasan Sridhar, the former chairman of Central Bank of India, along with three others, as new board members. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/nisH8FW >

Ministers from 160 member nations of the World Trade Organisation (WTO) return to the Persian Gulf to discuss the core issues that have hindered progress since the Doha Round of talks 23 years ago. The discussions include agriculture, fisheries, dispute settlement, e-commerce, and new issues. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/jFiU507 >

State-owned oil and gas giants including IndianOil, ONGC and GAIL (India) have been slapped fines for the third straight quarter for failing to meet listing norm requirements of having the requisite number of directors on their board. Stock exchanges have fined oil refining and fuel marketing giant Indian Oil Corporation (IOC), explorers Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL), gas utility GAIL, and refiners Hindustan Petroleum Corporation Ltd. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/c7KTNL1 >

The Enforcement Directorate has summoned Niranjan Hiranandani and his son Darshan Hiranandani, the promoters of Mumbai-based real estate developer Hiranandani Group, for questioning in a foreign exchange violation case in Mumbai. The ED is probing foreign transactions and a British Virgin Islands-based trust allegedly linked to the Hiranandani Group promoters. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/RmjOftk >

India's steel exports hit a record high of 1.1 million tonnes in January 2024, with the European Union driving 67% of the demand. This surge in exports was attributed to favourable global prices and increased restocking demand from the EU, according to a report by SteelMint. This marks the highest level of exports in the past 18 months. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/npVzvUd >

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Investors in Think & Learn, the parent company of Byju's, are seeking to remove founder Byju Raveendran as CEO and restructure the board. This comes after a group of investors requested the National Company Law Tribunal to declare the founders unfit to run the company due to alleged oppression and mismanagement. They are also seeking the appointment of a new CEO, board, and the voiding of a $200 million rights issue. A battle for control between Byju's management and the investors is now imminent. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/mBT8HFU >

ATR, the regional aircraft major, expects India to become its largest market in the next five years. With the government's focus on regional air transport and the growing economy, the demand for ATR planes in India is predicted to be significant. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/MJ8YQOG >

Aditya Birla Group is investing in Birla Opus, its paints venture, with the aim to disrupt the industry and become the number two player. They plan to achieve a revenue of Rs 10,000 crore and cover the entire country by FY25. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/r31undR >

Finance minister Nirmala Sitharaman met financial sector regulators to discuss uniform KYC norms, simplification and digitalization of the KYC process, steps to check unauthorised lending through online apps, and the implementation of a seamless KYC system like the mutual fund industry. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/JlVbCFz >

LTIMindtree has signed a MoU with Eurolife FFH to establish a genAl and digital hub in Athens and dedicated facilities in Poland and Mumbai. The partnership aims to leverage advanced technology to deliver innovation in the insurance industry. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/R5QnEbG >

Kumar Mangalam Birla plans to launch an IPO of Novelis, his aluminium company, in the US market. It will be the first Indian conglomerate to sell common shares in the US. The IPO will enable Hindalco to raise capital for projects and expansions. Indian companies like Rediff and Sify have previously listed on US exchanges. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/rS6itcd >

Overseas remittances jumped to $2.4 billion in Dec 2023 from a nine-month low of $1.9 billion in Nov. The highest remittance ever was recorded in June 2023, which saw a total outgo of $3,890 million after the government announced that tax collection at source (TCS) would come into force from July 1, 2023. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/rOWgvlk >

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CBDT said that such small tax demands that were outstanding as on Jan 31, 2024 raised under the I-T Act and also under the erstwhile Wealth Tax and Gift Tax Acts, shall be remitted and extinguished subject to the ceiling of Rs 1 lakh for a taxpayer. Taxpayers can check the status of the demands by logging on to the I-T portal. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/zmeJDL9 >

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BYD, once mocked for poor quality, has become a global leader in electric car sales, surpassing Tesla. The company's success is attributed to expanding worldwide, introducing cost-effective Blade batteries, targeting the Chinese market's demand for cheaper cars, and raising concerns about Chinese electric car exports. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/9OgGzxh >

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To be a king is to sit at the pinnacle of wealth, power, and privilege. Arguably the most revered kingdom is the United Kingdom which through the millennium, has remained an icon of this institution.  During the Tudor dynasty of the 16th ... via JustLuxe.com from JustLuxe: LuxuryTravel News https://ift.tt/36NEOyW

The government has increased the authorised capital of Food Corporation of India (FCI) from Rs 10,000 crore to Rs 21,000 crore through a notification. This move will help FCI reduce its borrowings from banks and save approximately Rs 750 crore annually. FCI is responsible for procurement of foodgrains from farmers, stocking and distribution under the PDS. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/wz4TAeL >

A day after the RBI instructed payment networks Visa and Mastercard to stop enabling business credit card issuances by fintech aggregators, the central bank stated on Thursday that there were other violations, including payments made to illegal merchants. RBI said that a card network had an arrangement that enabled businesses to make card payments through certain intermediaries, to entities that do not accept card payments. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/v5hLuRn >

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In the central bank's first meeting with bank heads since July 2023, RBI Governor Shaktikanta Das discussed the issue of outlier growth in the personal loans market, as well as exposure to NBFCs. In November, RBI increased risk weights on unsecured personal loans and lending to NBFCs in an effort to limit bank credit to these areas. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Onor83b >

Senior officials from Paytm have appeared before the Enforcement Directorate in connection with suspected irregularities reported by the Reserve Bank of India lately. The regulator had prohibited the payments bank from receiving customer deposits after February 29. ED has asked Paytm executives to come again with certain documents sought by the probe team. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/TrLcd6M >

State-run iron ore miner NMDC Ltd on Wednesday said it has clocked a 68% jump in profit after tax (PAT) for the third quarter ended December 31, 2023, at Rs 1,492 crore as compared to Rs 890 crore in Q3 of FY23. This was on 45% rise in turnover to Rs 5,410 crore in Q3FY24 as against Rs 3,720 crore in Q3FY23 as the Navratna public sector enterprise recorded its highest ever production and sales volume of 12.22 metric tonnes and 11.39 MT, respectively, for the quarter, clocking a 15% and 19% growth in production and sales, respectively, over Q3FY23. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/fcSHk7w >

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Staff loyalty is a scarce feature of the hospitality industry these days, especially since the onset of Covid when many employees moved to other sectors. But Vasile Descultescu and Daniela Ciuca, have served the ... via JustLuxe.com from JustLuxe: LuxuryTravel News https://ift.tt/9l7EtSb

The Dredging Corporation of India Limited (DCIL) a leader in the Dredging Industry, posted a profit of Rs. 27.22 crore for Quarter Three (Q3) of 2023-24 financial year as against Rs 13.84 crore for the same quarter last year. The DCI announced its Earnings per share (EPS) is at Rs. 9.72 for Q3. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/JK90mpj >

The Sensex fell by 523 points on Monday, owing to profit taking in metal and financial stocks amid mixed global market trends. The Sensex ended 0.7% lower at 71,072 as 22 of its components closed in the red and eight in the green. The barometer opened higher, reaching a high of 71,757 in early trading. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/HIgOkK2 >

When you embark on a journey to Prague, a city that effortlessly marries history with modern charm, your choice of accommodation plays a pivotal role in shaping your experience. In this  ... via JustLuxe.com from JustLuxe: LuxuryTravel News https://ift.tt/mncKpG5

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Four of the top-10 most valued firms together added Rs 2.18 lakh crore in market valuation last week, with Life Insurance Corporation and State Bank of India emerging as the biggest gainers. From the top-10 pack, Reliance Industries, Tata Consultancy Services (TCS), Life Insurance Corporation of India (LIC) and SBI were the gainers. They collectively added Rs 2,18,598.29 crore in market capitalisation. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/BYscDfM >

Indonesia has ditched a controversial plan to buy 733 million euros ($790 million) worth of Mirage 2000-5 fighter jets previously used by Qatar, the defence ministry spokesperson said late on Saturday. "There is no purchase of Mirage jets. Even though it was planned, it has been cancelled ... meaning there is no active contract," spokesperson Dahnil Anzar Simanjuntak said in a statement, but did not elaborate. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/lM3XYoa >

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RBI held discussions with Paytm Payments Bank before taking action. Two directors resigned. Paytm management is lobbying for the bank's survival. RBI follows a strategy of engaging with management and then the board before imposing restrictions. Monetary penalty imposed in October 2023. Governor Das listed supervisory strategy, while deputy governor Janakiraman explained the policy of engagement and restrictions. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/uP8gchb >

One 97 Communications, Paytm's parent company, forms an advisory committee chaired by M Damodaran to enhance compliance. The move aims to strengthen corporate governance amidst RBI's curbs on Paytm Payments Bank. The panel includes banking veterans to address regulatory concerns. RBI's restrictions on the bank are seen as proportionate to the situation, with alleged KYC violations reported. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/EJmVCot >

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Delhi leads in GST evasion by bogus firms, with 483 detected in Q3 FY24, totaling Rs 3,028 crore. Nationwide, 4,153 such firms were found, evading Rs 12,036 crore in input tax credit. Delhi's crackdown resulted in blocking Rs 90 crore in tax credits and 11 arrests. Measures are in place to prevent entry of fake firms. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/LbDqgZM >

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Over the past year, the backlog of cases at the Appellate Tribunal for Electricity (APTEL) has surged by 70%, reaching 1,516. During the last two years, the tribunal managed to dispose of only 49 cases. This backlog has left claims worth lakhs of crores of rupees in a state of uncertainty, thereby undermining investor confidence in power sector reforms. Insiders at APTEL revealed that some of these cases have been pending since 2013. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/kRbUiQj >

On Monday, the stock price of LIC, the government-operated life insurance giant, surpassed the Rs 1,000 milestone for the first time since its listing in May 2022. The recent remarkable performance in LIC's stock price has elevated the PSU major to the position of the sixth most valuable company in India, boasting a market capitalization of Rs 6.3 lakh crore. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Q1Hwuxr >

On Monday, Bharti Airtel reported a significant 54% increase in consolidated net profit, reaching Rs 2,442 crore in the December quarter. This growth was primarily attributed to the expansion of high-value customer base and tariff adjustments. In the corresponding period of the previous fiscal year, the company had recorded a profit of Rs 1,588 crore. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/FsrIw9G >

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Prime Minister Narendra Modi is poised to articulate his vision for New India at the 8th edition of the ET Now Global Business Summit scheduled for February 9-10. Joining him, various cabinet ministers will address the summit, focusing discussions on the theme of 'disruption, development, and diversification'. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2EkBuyC >

The Reserve Bank of India (RBI) is anticipated to maintain interest rates following the conclusion of its monetary policy committee's meeting on February 8th. Despite the significant reduction in the government's fiscal deficit in its interim Budget on February 1st, which has enhanced the potential for an earlier-than-expected rate cut, most bankers and economists predict that the RBI will opt for a status quo. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/oM0UPsR >

The Enforcement Directorate is not investigating One97 Communications or its Founder and CEO Vijay Shekhar Sharma for money laundering. Paytm denies any involvement in anti-money laundering activities and states that it has always cooperated with authorities during investigations. The recent RBI order has barred Paytm Payments Bank Ltd from conducting certain transactions after February 29. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/THwd1cW >

Nirmala Sitharaman, the finance minister, has been spearheading the economic management of the Modi government during its second term. Following the presentation of her consecutive sixth budget, she mentioned that the government deliberately refrained from addressing issues in fragments during the vote on account and chose to wait until the full budget in July for a comprehensive approach. The Finance Minister expresses confidence that the Indian economy is set to maintain its growth trajectory, and the government is poised to effectively control inflation. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/HAPdLca >

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