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Finvasia partners with Yes Bank to launch AI-enabled super app ¡®Jumpp¡¯
The app enables users to open savings accounts with YES Bank in minutes. It also allows to integrate all financial accounts into a single view through the Account Aggregator ecosystem, which has surpassed 100 million consents.
DK Shivakumar pitches for site close to Kanakapura for Bengaluru¡¯s second international airport
Deputy CM DK Shivakumar is advocating for Bengaluru's second international airport to be located near Kanakapura. The proposed site between Bidadi and Harohalli is strategic for its industrial proximity. The government plans to use a PPP model similar to Kempegowda International Airport, requiring around 4500-5000 acres of land.
OREO partners with Post Malone for limited edition cookie
Mondel¨¥z International (MDLZ) has launched Edition Post Malone OREO Cookies, a collaboration featuring salted caramel and shortbread flavours with a unique swirling cream.
Ministry of Defence moves ahead with submarine plan, MDL qualifies for next round
The defence ministry is progressing with a multi-billion dollar initiative to construct next-generation submarines in India. Mazagaon Dockyards Limited, along with Germany's TKMS, has advanced to the commercial negotiation stage for the ?43,000 crore project. The new submarines, featuring air-independent propulsion systems, are expected to be operational within seven years after contract signing.
Argentina-India explore expansion in energy partnership
Argentina and India are poised to expand their cooperation in the energy sector, with YPF signing an agreement with Indian companies for LNG exports and collaboration on hydrocarbons and critical minerals. The deal could significantly benefit both nations, enhancing economic ties and potentially positioning Argentina as a key energy supplier to India.
Hyundai localises over 1.2k parts & EV battery packs
?The Hyundai Creta electric is the first model to come equipped with locally assembled battery-packs from the plant. The Korean company's localisation efforts have led to forex savings of USD 672 million (Rs 5,678 crore plus) since 2019 creating direct employment opportunities for over 1,400 people.
Marco Rubio, S Jaishankar hold talks to 'address' concerns related to 'irregular migration'
US Secretary of State Marco Rubio and India's EAM S Jaishankar discussed irregular immigration and strengthening the U.S.-India partnership. Their meeting addressed migration issues, the H-1B visa program for Indian workers, and other key areas like technology and defense. Rubio reaffirmed the Trump Administration's commitment to collaboration on economic ties and migration-related challenges.
India-US spark stands defused?
The outgoing Biden administration's Framework for Artificial Intelligence Diffusion categorizes countries based on trust with the US, impacting India's AI industry by imposing restrictions on importing GPUs. This classification may hinder Indian AI companies' global competitiveness and complicate diplomatic relations. The policy highlights the growing intersection of technology and geopolitics.
Donald Trump's pro-India, anti-China-Pak official all set for top post
President-elect Donald Trump has nominated Senator Marco Rubio for US Secretary of State. Rubio, recognized for his expertise in foreign relations and strong bipartisan support, advocates close US-India ties and a tough stance on China, Pakistan, and Venezuela.
Company registrations in December drop 15%, but LLP growth strong
In December, the number of new companies incorporated fell by 15.1% year-on-year, while LLP registrations grew by 12.3%. This marks the sixth consecutive monthly decline for companies. Analysts expect this trend to change in the next fiscal year, with economic growth expected to rebound despite current urban consumption uncertainties.
ICAI bats for concessional tax regime for partnership firms
The Institute of Chartered Accountants of India has proposed a special tax regime for partnership firms in light of the 2024 Budget review of the Income-tax Act. They also recommend simplifying tax laws, reducing litigation, and various other tax reforms. They aim to foster economic growth, environmental sustainability, and tax simplification.
Family trusts face new limits: Cousins & non-relatives no longer eligible as 'beneficiaries'
The recent tribunal ruling mandates that family trusts cannot add non-relatives as beneficiaries without facing tax implications. The decision affects the flexibility of trusts in succession planning, emphasizing that partnership interests qualify as shares and are taxable under section 56(2)(x).
What the $1.17 billion MH-60R equipment sale means for India-US defence strategic ties
The United States has approved a $1.17 billion sale of advanced equipment for MH-60R Seahawk helicopters to India, enhancing the country¡¯s anti-submarine warfare and maritime capabilities. This deal aligns with India¡¯s defence modernisation efforts, strengthening its naval operations in the Indo-Pacific region. The package includes cutting-edge communication systems, advanced sensors, and mission-critical equipment. The MH-60Rs, already operational in the Indian Navy, are designed to counter both conventional and asymmetric threats.
BHEL, Hitachi Energy India shares rally up to 9% on receiving work order from Power Grid
BHEL share price: BHEL and Hitachi Energy India secured a contract from Power Grid to build HVDC terminal stations for a 6,000 MW renewable energy project. The stations will transmit power from Gujarat to Maharashtra, part of India's 500GW renewable energy plan. BHEL's shares rose 2% following the announcement, while Hitachi Energy's shares surged over 9%.
NFRA suggests 40 audit standards for LLPs to govt
The National Financial Reporting Authority (NFRA) recommended 40 auditing standards for limited liability partnerships (LLPs) to the corporate affairs ministry. These standards, finalized in November for companies, will apply to LLPs from April 2026. Concurrently, the Institute of Chartered Accountants of India (ICAI) launched an AI-powered platform, CA GPT, to streamline financial data analysis for chartered accountants.
B L Kashyap & Sons Limited Q2 Results: Profit reported at Rs 10 crore, revenue Rs 275 crore
B L Kashyap & Sons reported Q2FY25 revenue of Rs 275.67 crore and net profit of Rs 10.87 crore. The company plans to expand its order book to Rs 3,500-4,000 crore by April 2025, focusing on high-margin projects in key sectors.
Plans afoot to put LLPs and cos on par in accounting
The Indian government is considering implementing new accounting standards for large limited liability partnerships (LLPs) to enhance transparency and accountability. These standards, aligned with those for companies, aim to improve financial disclosures and attract more investors to LLPs.
BDL signs MoU with Russia's Rosoboronexport for collaboration on Pantsir air defence systems
India's Bharat Dynamics Limited (BDL) and Russia's Rosoboronexport signed a memorandum of understanding to collaborate on the Pantsir air defense missile-gun systems. The agreement enables cooperation on variants of the Pantsir, a mobile, short-range air defense system with missile and gun capabilities.
Amnesty Scheme for Customs, easier tax compliance on India Inc's Budget wishlist
Indian industry bodies have submitted their wishlist for the upcoming budget, calling for an amnesty scheme for customs, tax cuts for individuals and LLPs, and streamlined tax compliance processes. They also urged the government to expedite faceless appeals, establish a dedicated dispute resolution system, and boost infrastructure spending.
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