BUSINESS ADMINISTRATION
Prioritising India-UK ties, FTA in focus under new PM Keir Starmer
The India-UK FTA talks began in January 2022 but were stalled in the 14th round as both countries stepped into their general election cycles this year. India saw the new government in the first week and on Friday, it was the UK's. "There is no question in my mind that India will continue to be important for the new Labour government," said Rahul Roy-Chaudhury, Senior Fellow at the International Institute for Strategic Studies (IISS).
New surprises before US Presidential Elections: Donald Trump's lawyers ask NYC judge to overturn hush-money conviction
Donald Trump's lawyers reportedly asked for his hush money criminal case conviction to be overturned citing the Supreme Court's recent ruling giving him immunity from prosecution for official decisions, while sitting on the President's chair. What more surprises lie in wait ahead of the US Presidential Elections, that are just round the corner?
Biden campaign's reset after disastrous debate looks a lot like business as usual
President Joe Biden is working to reset his campaign after a tough debate performance, shifting focus to Donald Trump and fulfilling his presidential duties. This week, Biden has attended a briefing on extreme weather, a campaign reception, a Medal of Honor ceremony, and the traditional July 4th barbecue at the White House. He plans to spend the weekend at his home in Wilmington, Delaware.
UK general election: FTA with India on manifesto agenda for both Tory, Labour
As the UK gears up for the general election, a potential free trade agreement with India remains a key focus for both the Conservatives and Labour, with negotiations stalled at the fourteenth round. The Tories aim for a comprehensive partnership, including technology and defense, while Labour criticises missed deadlines and emphasises readiness to finalise the deal. Challenges include tariff removal on Scotch whisky and concerns over visa rules for Indian workers.
German businesses in India say bureaucratic hurdles worsening
German companies have cited bureaucratic hurdles in India as a major drawback to operating in the country this year, according to a survey from the Indo-German Chamber of Commerce. The survey found that 64% of German businesses listed protectionist measures and procurement rules as the biggest drawback to operating in India, up from 53% last year.
Chandigarh allows registered shops to open round-the-clock on all 365 days
In Chandigarh, shops can now operate 24/7, with special provisions for female employees' safety and well-being. The move simplifies labour laws, benefits traders, and ensures compliance with regulations. Female employees receive additional safety measures, including transportation and self-defence workshops, promoting a secure work environment.
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US prosecutors recommend DOJ criminally charge Boeing as deadline looms
U.S. prosecutors recommend criminal charges against Boeing for allegedly violating a 2021 settlement related to two fatal 737 MAX crashes. The Justice Department must decide by July 7 whether to prosecute. The 2021 deal, which included a $2.5 billion settlement, protected Boeing from a fraud conspiracy charge if it overhauled compliance practices. Prosecutors argue Boeing breached this agreement. Potential resolutions include extending the settlement, new terms, or criminal charges. Boeing, disputing the breach, may accept penalties but resists a guilty plea due to potential business impacts. Families of crash victims urge significant fines and prosecution.
Biden bans US sales of Kaspersky software over Russia ties
The United States on Thursday banned Russia-based cybersecurity firm Kaspersky from providing its popular anti-virus products in the country, the US Commerce Department announced. "Kaspersky will generally no longer be able to, among other activities, sell its software within the United States or provide updates to software already in use," the Commerce Department said in a statement announcing the action, which it said is the first of its kind. da/des
Can AI answer the needs of smaller businesses? Some push to find out
Economists generally believe that the diffusion and adoption of generative AI will occur much faster, in part because information flows more quickly than it did in the past.
Small Indian-American community making grand contributions in the US: Report
The report "Indiaspora Impact Report: Small Community, Big Contributions," conducted by Boston Consulting Group, is the first volume in a series to look at the impact of the Indian diaspora, with a special focus on public service, business, culture and innovation in the United States.
Coalitions, building economic agreement
India's economic reforms are not slowed down by re-entering coalition politics. The country has a history of tough decisions and reformist outcomes under coalition rule since the 1990s.
CBIC issues instructions for initiating early GST recovery
The CBIC has authorized Principal Commissioners or Commissioners to demand GST dues within three months of a demand order if necessary for revenue. Generally, recovery starts post the three-month period, but early recovery can be initiated if justified in writing by the proper officer. This move aims to balance revenue protection and business ease, enhancing transparency and predictability in tax administration.
The business ties that bind the U.S. and China are strong but fraying
Many big U.S. companies depend on China for a substantial part of their income and rely on Chinese suppliers and factories for their products.
Manipur: Demand for replacement of minister alleging absence
As many as nine fora have submitted a memorandum addressed to Chief minister N Biren Singh. Manipur is under the grip of ethnic violence since May 3 last year.
NASA will soon provide advanced training to Indian astronauts: Eric Garcetti
The day-long event in Bengaluru garnered participation from senior officials from both the US and Indian governments, including Garcetti, Indian Space Research Organisation (ISRO) Chairman Dr. Somanath. S, representatives from the National Aeronautics and Space Administration (NASA), National Oceanic and Atmospheric Administration (NOAA), and the Government of India, as well as prominent leaders from the commercial space industry, industry stakeholders, venture capitalists, and market analysts.
Assam Institute of Management announces admission to new flagship programme
It is called the 4-year Integrated BBA/MBA Programme leading to Master of Business Administration (MBA).AIM has been offering its flagship 2-year full time management programme, short term courses and allied activities to the satisfaction of various stakeholders in the region.
IIM Bangalore launches online BBA programme in digital business and entrepreneurship
The Indian Institute of Management Bangalore is launching an online Bachelor of Business Administration (BBA) degree in digital business and entrepreneurship. The three-year program, starting in September, will target 1,000 students and include internships and practical projects. The program aims to create professionals who understand digital business and contribute to digital businesses or make traditional businesses digital-ready. The institute chose online to make the course more accessible and deliver world-class quality.
Oil falls for fourth straight session, US demand in focus
Oil prices fell on Thursday for the fourth session in a row, as the prospect of higher-for-longer U.S. interest rates raised worries around demand growth in the world's biggest oil market.
Strategies for effective implementation of family business constitutions
This article explores strategies for the effective implementation and bridging the divide between the aspirational ideals outlined in the constitution and the lived reality of day-to-day interactions, long-term strategies, decision-making processes, and familial aspects of harmony and togetherness.
Of more import than just a port
If seen without ideological baggage, the development of Chabahar on Iran's coast as a trading hub is a net positive not only for India and Iran but also for Afghanistan and landlocked Central Asian countries. More trade means more stability as governments develop stakes, and Chabahar - meaning 'four springs' in Farsi - lives up to its name.
US FDA inspects Vishakhapatnam facility of Solara Active Pharma
The US Food and Drug Administration (FDA) completes inspection of Solara Active Pharma Sciences' API manufacturing facility in Visakhapatnam, Andhra Pradesh, with no observations. Solara confirms compliance with FDA standards. The facility, dedicated to Ibuprofen API production, marks Solara's second successful FDA inspection. The company aims for global market expansion with FDA-approved facilities.
Narayanan Vaghul, the banking doyen, passes away at 88
Narayanan Vaghul, the banker who built ICICI, passed away at 88. He was the youngest chairman of Bank of India at 44 and quit banking due to bureaucratic interference. Vaghul was awarded Padma Bhushan in 2010 and The Economic Times Lifetime Achievement Award in 2006. He is survived by his wife, daughter, and son.
Reliance Capital Administrator seeks 10 days extension from RBI to transfer assets to Hinduja Group
The National Company Law Tribunal (NCLT) Mumbai, while approving the resolution plan on February 27, directed IndusInd International Holdings Ltd to implement it within 90 days ending May 27.
Microsoft asks hundreds of China staff to relocate as tensions with US simmer
Amid strained US-China relations, Microsoft asks 700-800 Chinese engineers in its China-based cloud and AI operations to consider relocating outside the country, offering transfers to the US, Ireland, Australia, and New Zealand. This move follows US scrutiny on Chinese imports. Microsoft reaffirms commitment to China while navigating regulatory challenges.
Oil prices slide 1% to 11-week low on weaker IEA 2024 demand forecast
Crude prices slid about 1% to an 11-week low on Wednesday after data from the International Energy Agency (IEA) showed oil demand in developed countries likely would flag this year.
US to impose sanctions on Chinese banks for assisting Russia in Ukraine war
US State Secretary Antony Blinken, during a meeting with Chinese President Xi Jinping last month, urged Beijing to end military support for Moscow. Earlier in December, US President Joe Biden gave the Treasury Department authority to impose secondary sanctions against financial institutions in third countries that assisted Moscow in evading sanctions, as reported by Nikkei Asia.
Trump accuses Biden of running 'Gestapo administration'
In a private address to donors, former President Donald Trump accused President Joe Biden of running a "Gestapo administration," likening it to the Nazi police in Germany. Trump made these comments at a donor retreat at his Mar-a-Lago resort in Florida, where he also criticized prosecutors involved in his criminal indictments. The remarks came after Trump complained about the politically motivated nature of the indictments against him. The White House denounced Trump's rhetoric, contrasting Biden's approach to governance and accusing Trump of echoing fascist rhetoric.
Solar companies seek new U.S. tariffs on Asian imports
Petitions come amid growing alarm within the U.S. solar industry that a flood of cheap Chinese green energy technology exports are pushing down prices of solar panels and threatening efforts by the Biden administration to develop a domestic solar supply chain.
Makeover of business administration: Indian B-schools adapt for tomorrow's challenges
While the charm of MBA is fading globally, Indians are still in a mad rush for it. The leading B-schools in the country are reimagining the course to fit the future of business.
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