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Business Updates

India’s lentil production set to touch all-time high: Govt

October 16, 2020By businessreputationdata

India’s lentil production has tapered since 2017-18 when the country recorded its highest output of 1.62 million tonne. According to official data, in the 2022-23 crop year, the country’s lentil production stood at 1.56 million tonne,

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Business Updates

ONGC hopes to recover over $500 million dividend as sanctions on Venezuela eased

October 14, 2020By businessreputationdata

US sanctions had hit Venezuela’s finances and oil output, leading to accumulation of dividend for foreign companies such as ONGC.

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Business Updates

Fitch hikes India’s mid-term GDP growth forecast to 6.2 per cent

October 13, 2020By businessreputationdata

According to Fitch, India’s projected labour supply growth is also lower relative to 2019 given the expected negative growth in the participation rate.

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Business Updates

‘Export of basmati rice could be affected by Red Sea attacks’

October 13, 2020By businessreputationdata

The alternative route may also affect India’s exports of the long-grain rice to Egypt and European countries, said the official, requesting anonymity.

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Business Updates

FirstCry founder Supam Maheshwari probed for alleged tax evasion of over $50 million: Report

October 11, 2020By businessreputationdata

The department has inquired why he failed to pay over $50 million in taxes on equity transactions conducted in FirstCry and has also sent notices to Maheshwari in this regard, people familiar with the matter informed Bloomberg.

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Business Updates

India may compensate exporters against UK, EU carbon tax

October 11, 2020By businessreputationdata

The carbon border adjustment mechanism (CBAM) or carbon tax is expected to have an impact on India’s iron, steel, and aluminum exports worth $8-$9 billion headed into Europe and the UK.

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Business Updates

ITR last filing date on Monday, July 31; over 5.83 crore tax returns filed in 2022-23 fiscal

October 11, 2020By businessreputationdata

New Jersey-based Sun Pharmaceutical Industries Inc is recalling 7,313 bottles of Methylphenidate Hydrochloride tablets due to the “presence of foreign substance: metal embedded in a tablet”, the USFDA stated.

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Business Updates

Govt bans manufacturing, possession, imports of electric detonator from April 2025

October 11, 2020By businessreputationdata

In a notification, the Department for Promotion of Industry and Internal Trade (DPIIT) has said that the central government is of the opinion that electric detonator is of a “dangerous” character.

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Business Updates

PSU general insurers lose market share further

October 9, 2020By businessreputationdata

The industry’s growth will be primarily driven by the health and motor insurance segments, supported by increasing disposable income levels and a rise across other segments.

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Business Updates

DGCA issues advisory on jamming, spoofing of navigation signals in airspace

October 8, 2020By businessreputationdata

In view of the rising number of reported instances of GNSS interference in the airspace over the Middle East in the recent past, the DGCA had formed an internal committee on the matter on October 4.

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