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The Income Tax Department on Tuesday launched a nationwide verification exercise. (Photo: IANS) NEW DELHI: The income tax department on Tuesday said it conducted a nationwide field verification exercise, including in some border districts, against a group of entities and fictitious charitable trusts, alleged to have sent “large” amounts of funds outside the country over…

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RBI deputy governor Shirish Chandra Murmu said there are three times as many rupee banknotes in circulation as US dollar bills and nearly six times as many as euro notes. (Photo: ANI) MUMBAI: The US banknote, the most ubiquitous currency in the world used in everything from drug deals to legally accepted tender in multiple…

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Prisma Global’s bond offering draws strong investor response, expanding India’s AI companies’ access to debt markets MUMBAI: A Rs 50-crore bond offering, at an interest rate of 10% for a two-year tenure, opened for subscription on Monday, and was fully subscribed within the first hour. By 3pm the issue was subscribed nearly eight times. There…

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Government approves 31 more ECMS applications, attracting proposed additional investments of Rs 7,877 crore NEW DELHI: Govt has approved another 31 applications, involving proposed additional investments of Rs 7,877 crore under the Electronics Components Manufacturing Scheme, or ECMS. The projects will manufacture products, including printed circuit boards, camera modules, optical transceivers, electronic enclosures and materials…

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Crude prices surge past $90 per barrel as ceasefire hopes dim Oil prices inched higher on Tuesday, with Brent crude surging past the $90-a-barrel mark as hopes of an early end to the Middle East war remained uncertain. Iran signalled a shift towards a more offensive military approach, while US ruled out extending the ceasefire,…

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Colgate-Palmolive India signals further pricing action to offset commodity inflation. Photo credit: ANI MUMBAI: Colgate-Palmolive India on Monday signalled that the company may take more price hikes in the coming quarters to protect margins as firms across sectors continue to tackle commodity inflation triggered by the West Asia war. Inflation will be an issue, the…

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The measures are being considered as sugar prices have surged ahead of the peak festival season (representative image) India is considering a series of measures, including limited duty-free sugar imports and tighter stockholding limits for bulk traders, to boost domestic supplies and rein in record sugar prices, government and industry sources said on Tuesday, according…

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US and Canada hold last-minute talks to stop Trump’s 50% tariffs The United States and Canada are in a race against the clock to reach a tariff agreement before a 12:01 am Wednesday deadline imposed by US President Donald Trump.Failure to strike a deal could see Trump impose 50% tariffs on $20 billion worth of…

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A large portion of Indian exports of these products already attract antidumping and countervailing duties in the US. India has approached the World Trade Organisation (WTO) over the Donald Trump administration’s move of announcing safeguard tariffs of 25% to 55% from August 15 for quartz surface products.India approached the WTO on August 14 seeking consultations…

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Technology  shares have swung sharply this summer as investors question whether valuations have risen too far. US stock market today: Wall Street benchmarks moved further away from their record high on Tuesday as technology shares related to the artificial-intelligence boom came under renewed selling pressure.The S&P 500 declined 0.5%, putting it on course for a…

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