NATIONAL Govt scraps controversial CBDT circular on BPO In a major relief to the country's Business Process Outsourcing sector, Government today (Sep 28, 2004) exempted it from tax by withdrawing the controversial
CBDT circular issued in January.
India's top retail houses join hands to launch 'RAI' India's top organised retail houses today (Sep 28, 2004) came together to launch "Retailers Association of India (RAI)" with an aim to trigger growth in the retail trade industry.
FIIs may be allowed to invest in Indian news channels Refusing to tinker with the 26 per cent sectoral cap, the Government today (Sep 28, 2004) said it is considering allowing Foreign Institutional Investor (FII) investment in Indian news channels.
RSP asks govt to recover NPAs, avoid FDI route RSP (Republican Socialist Party) today (Sep 28, 2004) asked UPA (United Progressive Alliance) Government to mobilise resources by recovering thousands of crore worth of non-performing assets (NPAs) and stem corruption to strengthen public sector units, including those in the aviation sector, instead of taking the FDI (Foreign Direct Investment) route.
BSE: Sensex down by 49.20 pts, ends at 5462.61 Share prices closed distinctly weak at the Bombay Stock Exchange (BSE) today (Sep 28, 2004), pushing the Sensex down by a whopping 49.20 points to end at 5462.61 due to heavy selling on the fourth successive session following weak global advices on concerns over spurting world crude oil prices.
Need for flexibility in labour market: Chidambaram Finance Minister P Chidambaram today (Sep 28, 2004) said there is a need to introduce "some flexibility" in the labour market to generate more jobs in the country.
PC sales indicate growing IT consumption in India An all round buying pushed up the sales of personal computers (PCs) by 39 per cent year-on-year in the first quarter of 2004-05 to 890,000 units, according to the data compiled by MAIT, an apex body of computer hardware manufacturers.
BMW exploring India; mulls setting up a unit! German automaker BMW today (Sep 28, 2004) said the Indian market was yet to produce volumes for the firm to set up a manufacturing unit in the country, but added that any moves now were exploratory and did not have a specific time frame.
US-based BPO company Sutherland to triple its staff Sutherland Global Services, US-based Business Process Outsourcing (BPO) company, will expand operations at its city centre by inducting additional 1,000 IT experts.
Infosys banking solution achieves highest TPS Infosys Technologies today (Sep 28, 2004) said that its Finacle Universal Banking Solution has achieved the highest scalability and transactions throughput per second (TPS) of 11,180 in online mode and 19,568 TPS for batch mode.
INTERNATIONAL India 4th largest but still lags behind in tech: WB Ahead of IMF-WB meeting, the World Bank today (Sep 28, 2004) placed India as the fourth largest economy in terms of purchasing power parity, even as it said the country lagged behind in technology and efficiency.
Thumbs up to India on exchange rate flexibility The International Monetary Fund (IMF) has given India the thumbs up for its gradual introduction of greater exchange rate flexibility without hiccups even when reforms to policy frameworks were in progress.
