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Rising inequality eroding trust in capitalism

Rising inequality eroding trust in capitalism

Rising income inequality is undermining confidence in capitalism around the world, according to a survey conducted by public relations firm Edelman ahead of the gathering of the elites in the Swiss ski resort of Davos.

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ET Wealth | Can these deductions make you tax free?

ET Wealth | Can these deductions make you tax free?

Different sections under the Income-Tax Act correspond to different savings or expenses, some of which are eligible for tax deductions and could be a great way to show that you are actually out of the taxable bracket. Here are 8 such deductions.

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ED arrests NRI businessman Thampi in PMLA case

ED arrests NRI businessman Thampi in PMLA case

The Dubai-based businessman has also been summoned by the agency in the past for questioning on his alleged links with Robert Vadra, son-in-law of Congress President Sonia Gandhi, and absconding arms dealer Sanjay Bhandari. Thampi has been arrested under the Prevention of Money Laundering Act (PMLA).

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I-T raids at premises of Bharat Hotels, Cargo Motors

I-T raids at premises of Bharat Hotels, Cargo Motors

About 8 premises linked to Bharat Hotels CMD Jytosna Suri and promoters of Cargo Motors, dealers of Tata vehicles, are being searched in and around the national capital. The Bharat Hotels group owns the Lalit Group of hotels in the country.

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Lessons for homebuyers from Maradu flats demolition

Lessons for homebuyers from Maradu flats demolition

The recent demolition of illegal apartment buildings in Kerala shows the risks homebuyers are taking in India. In addition to coastal regulation zone (CRZ) rules, there are several land usage rules that home buyers must be careful about.

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'Can't differentiate between ICICI, HDFC Bk and Kotak'

'Can't differentiate between ICICI, HDFC Bk and Kotak'

One can’t time the market, one can only play catch up. If money is coming into the economy, look for safer opportunities. Use part of the cash to keep coming back in the market at every movement and set some defined triggers. Decide that on every X% rise, you would invest Y% or on X% fall, you would invest Y%.

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Will govt let AGR become Voda's breaking point?

Will govt let AGR become Voda's breaking point?

The banking sector’s total exposure to the telecom sector is around Rs 1.5 lakh crore.

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Too small to fight against India: Malaysian PM

Too small to fight against India: Malaysian PM

India has been Malaysia's largest palm oil market for the past five years, presenting the Southeast Asian country with a major challenge in finding new buyers for its palm oil.

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140 new cases emerge as virus spreads in China

140 new cases emerge as virus spreads in China

A third person was confirmed to have died and 136 new cases were found over the weekend in Wuhan, the local health commission said, taking the total number of people to have been diagnosed with the virus in China to 201.

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Your mobile bill may rise up to 30%

Your mobile bill may rise up to 30%

Analysts expect private telcos to leverage the fall in consumer-level telecom spends to 0.73% of GDP in the September quarter of FY20 from 1.25% just over three years ago, saying the scenario offers adequate headroom to push through a second round of price hikes.

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Soon, you’ll get to buy one policy for many cars

Soon, you’ll get to buy one policy for many cars

ICICI Lombard is launching the “floater” policy option that will allow customers to optimise their sum insured, since they will not be driving two vehicles at the same time.

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Quality stocks available at cut-price valuations

Quality stocks available at cut-price valuations

Due to the narrow rally, valuation gap is widening between quality companies, or leaders valued at high premiums compared to the next player. The quality rally will get broad-based and this will start with the focus shifting to other quality companies.

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Brokerages find TCS expensive post Q3 results

Brokerages find TCS expensive post Q3 results

Kotak Institutional Equities maintained ‘Reduce’ rating on TCS with a fair value of Rs 2020. However, it said that TCS is a must have in the portfolio at the right valuation. Edelweiss Securities maintained ‘Hold’ rating on the stock with a target price of Rs 2,175. “The stock’s expensive valuation (22.9x FY21E EPS) compels us to retain ‘Hold’,” the brokerage house said.

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Sharp profit booking likely if Nifty slips below 12,200

Sharp profit booking likely if Nifty slips below 12,200

Traders can adopt a bear spread strategy of February 6 expiry of 12,200-11,800 strikes.

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Used-car business does well for Audi in bad year for auto

Used-car business does well for Audi in bad year for auto

The Audi Approved Plus — its used-car division that also sells the vehicles of other luxury brands — is eyeing 50% growth in 2020, even as the head of the company, Balbir Singh Dhillon, expects the market for new luxury cars to stay flat.

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Bleetech runs a TV channel for the deaf

Bleetech runs a TV channel for the deaf

The deaf in India have mostly come under the ignored communities of the society. To change this narrative, Bleetech Innovations’s digital platform offers content in Indian Sign Language on a range of topics covering education, news, entertainment, etc.,.

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Samsung to set up India’s 1st mobile display plant

Samsung to set up India’s 1st mobile display plant

The South Korean company is investing more than Rs 3,500 crore in this facility in Noida, as per a regulatory filing with the Registrar of Companies (RoC). It could later be expanded to manufacture displays of other devices as well.

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Trump hails China trade deal as 'much better'

Trump hails China trade deal as 'much better'

Trump also praised a new chapter in relations with Beijing, calling it "the best relationship that we've ever had with China in many, many years." "China respects us now," Trump said.

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Lenders hope govt steps in to prevent AGR

Lenders hope govt steps in to prevent AGR

Banks have no liability to telecom companies linked to the AGR order because these do not form a part of the guarantees they have given. However, any cash outflow due to these payments could severely dent debtheavy service providers such as Vodafone Idea.

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Pakistan seeks US help to get off FATF grey list

Pakistan seeks US help to get off FATF grey list

Pakistan urges US to review its travel advisories for Pak and encourage investment. Pakistan foreign minister Shah Mehmood Qureshi was in Washington last week and had expressed hope that the US would back its efforts to get it off the grey list at FATF’s review meeting in Beijing this week.

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Remarks on Amazon won't send wrong signal: Goyal

Remarks on Amazon won't send wrong signal: Goyal

“Not at all,” he told ET when asked if his statement would send a wrong signal to global investors. India welcomes, values and respects foreign investment, Commerce and industry minister Piyush Goyal added. The minister restated that it is expected that large companies will respect the law of land.

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Plan likely to give NBFCs more lending room

Plan likely to give NBFCs more lending room

The options that have been deliberated ahead of the February 1 budget include a plan akin to the Troubled Asset Relief Program (TARP) that the US put in place after the subprime mortgage crisis that sparked the financial crisis of 2007-08. Funding for such a structure could come from residual stakes in the Special Undertaking of Unit Trust of India.

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Gig economy workers may have to register under GSTN

Gig economy workers may have to register under GSTN

Government looks to bring services professionals such as plumbers, electricians and beauticians listed on online platforms like UrbanClap, HouseJoy and Bro4u into formal workforce. The Department for Promotion of Industry and Internal Trade is considering making it mandatory for online marketplaces

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Urea may come under NBS before direct cash transfer

Urea may come under NBS before direct cash transfer

Fixing NBS rate for urea will encourage balanced use of urea and bring in efficiency in the fertiliser industry by infusing competition. The DCT is aimed at replacing the existing direct benefit transfer (DBT) system where farmers buy urea at subsidised price, which is almost one-third of the total cost.

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My job is to tell the India story: Piyush Goyal

My job is to tell the India story: Piyush Goyal

"Many people are talking about jobs, including your paper, but I look at the jobs in the perspective of the jobs lost also. I cannot create 700,000 jobs by breaking the law, breaking every anti-competitive restriction, monopolising certain markets", said Commerce and industry minister Piyush Goyal.

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National database of informal sector in the works

National database of informal sector in the works

The Bill seeks to empower the central government to formulate and notify, from time to time, suitable welfare schemes for unorganised workers on matters related to life and disability cover; health and maternity benefits; old-age protection; education; housing or any other benefit.

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Amazon, Flipkart bring Diwali spirit to Republic Day

Amazon, Flipkart bring Diwali spirit to Republic Day

There will be no change in pricing and discount strategy of cos despite Goyal’s recent remarks. Discounts during the ongoing Republic Day and Great Indian sales on Flipkart and Amazon, respectively, will be similar to that last year

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Trade deficit checks: Curbs on duty-free cigarettes, liquor

Trade deficit checks: Curbs on duty-free cigarettes, liquor

While the government doesn’t maintain data on imports coming through the duty-free channel, liquor, cigarettes, chocolates and perfumes are the biggest purchases at Indian airport stores. “While there is no trafficking of these products at present, controls on duty free goods will lead to smuggling,” said an expert on condition of anonymity.

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Why it's time to rethink investor-State dispute regime

Why it's time to rethink investor-State dispute regime

As per reports, the finance ministry has mooted a 40-page draft proposal that envisages the appointment of mediators and the setting up of fast-track courts to resolve disputes with foreign investors. While the proposal is being reviewed, it certainly would be a welcome step in rethinking the investor-State dispute regime.

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WhatsApp faces outage in India, Twitter abuzz

WhatsApp faces outage in India, Twitter abuzz

Millions of users were unable to share videos, photos and GIFs, audio and stickers and several of those said they were even unable to view WhatsApp Status feature. According to Downdetetector.com, the problem started in the evening around 4 p.m. and alive outage map showed users in India, Europe, Brazil and in Southeast Asia were affected by the outage.

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Government mulls corporatising KVIC’s marketing unit

Government mulls corporatising KVIC’s marketing unit

“KVIC and the government are now exploring the possibility of assigning the marketing function to a professional entity on a profit-sharing basis,” a government official closely associated with the development told ET.

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Don't want law that look at bizs with suspicion: FM

Don't want law that look at bizs with suspicion: FM

Delivering the Nani Palkhivala Centenary Celebrations Lecture, organised by the Palkhivala Foundation , on "Road Map to $5 Trillion Economy", the Finance Minister said her earnest attempt is to decriminalise matters concerning the Companies Act or other related laws, and also cited Tata Group Head N. Chandrasekharan's speech in Mumbai on Monday where he had said government should trust its own citizens.

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Budget document printing to start on Monday

Budget document printing to start on Monday

This year the Budget will be presented at a time when growth has dropped to a six-year low amidst a persistent slowdown in the economy and the weak demand. Besides, consumption, investment, the outlook and the targets likely to be missed for the fiscal deficit, tax revenues and disinvestment, all add up to a dismal scenario for the current fiscal.

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Rohit slams century to help India claim series 2-1

Rohit slams century to help India claim series 2-1

Chasing 287 to win, India overhauled the target with 15 balls to spare at decider. Earlier, Steve Smith (131) hit a hundred to lead Australia to 286 for nine. Apart from Smith, who raised his ninth ODI hundred, Marnus Labuschagne (54) also batted well after the visitors opted to bat. India had lost the series-opener in Mumbai before levelling the series in Rajkot.

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Johnson and Macron reiterate from Iran nuclear deal

Johnson and Macron reiterate from Iran nuclear deal

"On Iran, the leaders reiterated their commitment to the JCPoA (Joint Comprehensive Plan of Action) and also acknowledged the need to define a long-term framework to prevent Iran acquiring a nuclear weapon," a Downing Street spokeswoman said in a statement after the two met on the sidelines of a Libya summit in Berlin.

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Air India unions to demand VRS in Monday meeting

Air India unions to demand VRS in Monday meeting

"Our members have been approaching us and want us to discuss a voluntary retirement scheme package with the government as it is expected that our job will be protected only for one year post privatisation. We are going to raise this issue at the meeting with the minister on Monday," an airline source told PTI.

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India may miss tax collection target for 2019-20: Garg

India may miss tax collection target for 2019-20: Garg

Subhash Chandra Garg said corporate tax, excise duties and customs are likely to see negative growth in collections in 2019-20- something of the order of 8 per cent in corporate taxes, about 5 per cent negative growth in excise duties (Rs 2.2 lakh crore against Rs 2.31 lakh crore) and about 10 per cent lower collection in customs duty (Rs 1.06 lakh crore against Rs 1.18 lakh crore).

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Passenger vehicle exports rise 6% in April-Dec

Passenger vehicle exports rise 6% in April-Dec

Car shipments saw 4.44 per cent growth at 4,04,552 units, while utility vehicle exports saw a rise of 11.14 per cent at 1,33,511 units during the April-December period, the Society of Indian Automobile Manufacturers' data showed.

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Govt considering specific excise duty on ATF

Govt considering specific excise duty on ATF

Concessional rate of 2 per cent is applicable for ATF sold under Regional Connectivity Scheme. Ad valorem rate means that the impact of an increase in price of the fuel because of global rate hike translates into an even higher price for airlines as the tax incidence also rises.

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New Airtel plan offers life insurance cover

New Airtel plan offers life insurance cover

"Priced at... Rs 179, Airtel's new prepaid bundle offers unlimited calling to any network, 2 GB data, 300 SMS along with a term life cover of Rs 2 lakh from Bharti AXA Life Insurance," the company said in a statement.

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Announce convergence corp tax rates to 15%: CII

Announce convergence corp tax rates to 15%: CII

The government last year reduced corporate tax rates to 22 per cent, plus surcharge and cess. However, companies will not be allowed to avail any tax exemptions or incentives.

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PM Modi, Shah can defuse anti-CAA protests: Tharoor

PM Modi, Shah can defuse anti-CAA protests: Tharoor

At the last day of the four-day Kerala Literature Festival here, Tharoor said: "Protests can be defused if Narendra Modi & Amit Shah say 'We are dropping idea of NRC', that they will no longer ask NPR enumeration & go to every door asking - 'Where your father & mother were born' and ask for documentary proof."

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Prince Harry, Meghan to give up 'highness' titles

Prince Harry, Meghan to give up 'highness' titles

The couple will now formally be known as "Harry, The Duke of Sussex" and "Meghan, The Duchess of Sussex".

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Kia Motors eyes full capacity utilisation in India

Kia Motors eyes full capacity utilisation in India

Kia Motors' manufacturing facility in Andhra Pradesh has an installed production capacity to roll out 3 lakh units per annum on a three shift basis.

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Trump, Merkel and Imran to visit WEF at Davos

Trump, Merkel and Imran to visit WEF at Davos

The World Economic Forum Annual Meeting 2020, taking place on January 20-24, will focus on establishing stakeholder capitalism as a way of addressing the world's greatest challenges, from societal divisions created by income inequality and political polarization to the climate crisis we face today, the Geneva-based International organisation for public-private partnership has said.

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New ventures help office-goers sail through commute

New ventures help office-goers sail through commute

Startups focus on carpools, buses and corporate services to make ride to work peaceful.

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Hyderabad, Bengaluru top most dynamic cities, globally

Hyderabad, Bengaluru top most dynamic cities, globally

The results show a continued shift in global influence from west to east, with Indian, Chinese and Vietnamese cities dominating the top positions.

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Duty-free alcohol could be restricted to one bottle

Duty-free alcohol could be restricted to one bottle

These recommendations are part of proposals made by the commerce ministry for the forthcoming Budget, which would be unveiled by Finance Minister Nirmala Sitharaman on February 1.

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How a builder took 6 banks, 30K homebuyers for a ride

How a builder took 6 banks, 30K homebuyers for a ride

Forensic audit of Unitech, done on SC's orders, reveal massive diversion of funds by the firm.

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Maradu flats turns spotlight on controlled explosion

Maradu flats turns spotlight on controlled explosion

The Kochi demolitions have brought to the fore controlled implosion, a method that has been used to raze buildings in the West for decades but is still relatively uncommon in India, thanks to lack of expertise and the availability of cheap labour for alternative methods.

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