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India, US extend digital tax on e-commerce supplies till June 30
Officials said while this would take care of the taxation issue for the first quarter, a final guideline for the second quarter onwards will be given in the upcoming budget in July. Both the countries had reached a deal in November, 2021 that allowed New Delhi to impose the 2% levy until March 31, 2024, or till the implementation of Pillar 1 of the OECD agreement on taxing multinationals and cross-border digital transactions.
External Affairs Ministry, SBI ink MoU to enhance digital payment services for eMigrate portal users
The Ministry of External Affairs (MEA) and the State Bank of India (SBI) signed a Memorandum of Understanding (MoU) on Saturday to enhance digital payment services for users of the eMigrate portal.
Domestic market access for SEZs, SOP for trade pacts likely in 100-day plan
The commerce department is developing a 100-day action plan focusing on various key areas. This includes allowing Special Economic Zones (SEZs) to sell in the domestic market, setting up a comprehensive trade information platform, standard operating procedures for negotiating free trade agreements (FTAs), and establishing ecommerce export zones. The plan also includes the launch of a Trade Connect e-Platform to assist new exporters, the development of ecommerce export hubs, and efforts to boost goods and services exports to $2 trillion by 2030.
Tattoos can increase risk of lymphoma - new study
Tattoos are now a mainstream means to express identity or celebrate milestones in life. Yet we know very little about the long-term health effects. Hazardous chemicals in tattoo ink have received attention in Europe during the last ten years. In parallel, research has shown that the ink that is injected into the skin does not stay there.
What fuels Kashmir valley's drive to reach polling booths to get inked
From anger against the decisions of August 5, 2019, and the policies of the ruling BJP in Kashmir, absence of a formal boycott call from separatist organisations, disappointment with Pakistan, participation of banned Jamaat-e-Islami members in these elections to unemployment, inflation, bureaucratic Raj and inequitable distribution of resources, voters across the region gave varied reasons to stand in the queue and cast their vote.
Flying over city traffic: How exactly can you travel between Delhi and Gurugram in 7 minutes?
In a joint venture, InterGlobe Enterprises, the parent company of India's leading airline IndiGo, and US-based Archer Aviation, plan to introduce an all-electric air taxi service in India by 2026. This service will facilitate transportation from Connaught Place in New Delhi to Gurugram in Haryana, with a remarkable travel time of only 7 minutes.
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DGFT inks pact with DHL to train MSMEs on e-commerce exports
To promote e-commerce exports, the commerce ministry's arm DGFT in partnership with logistics services provider DHL will conduct training sessions and workshops for MSMEs in 76 districts of the country, a statement said on Thursday. The exercise is aimed at preparing MSMEs to tap the growing potential of increasing exports through e-commerce medium, the Directorate General of Foreign Trade (DGFT) said in the statement.
JSW Energy arm inks battery energy storage purchase pact
JSW Renew Energy Five Limited (JSW Renew Five), a wholly-owned subsidiary of JSW Neo Energy Limited (or JSW Neo) and step-down subsidiary of JSW Energy Limited (or The Company), has signed battery energy storage purchase agreement (BESPA) for the first project of 250 MW / 500 MWh standalone battery energy storage system out of the total awarded project capacity of 500MW /1,000MWh (two projects each of 250 MW / 500 MWh) with Solar Energy Corporation of India Limited (SECI), a company statement said.
Multi Commodity Exchange (MCX) and Jakarta Futures Exchange (JFX) ink an MoU for knowledge sharing and regional development
“The MoU was formalised on February 26, 2024, at the MCX headquarters in Mumbai. P. S. Reddy, MD & CEO, MCX and Stephanus Paulus Lumintang, President Director, JFX signed the agreement in the presence of senior colleagues from both the organizations,” said MCX.
Goa Govt, MakeMyTrip ink pact to promote state's cultural, culinary traditions
The Government of Goa and Indian travel company MakeMyTrip have signed a Memorandum of Understanding to promote Goa as a year-round destination. The partnership aims to showcase Goa's lesser-known inland treasures, rich cultural tapestry, and delectable culinary traditions. MMT will bring its digital innovation and marketing expertise to broaden Goa tourism's reach.
EESL inks initial pacts worth Rs 500 cr with state bodies, industry partners
The MoUs with the two entities, valued at Rs 300 crore and Rs 200 crore, respectively, focus on crucial aspects of energy efficiency, including lighting, clean cooking, space heating, renewables, e-mobility, cooling, and consultancy.
ONGC inks JV pact with NTPC for renewable energy
ONGC received government approval to establish a new unit, ONGC Green Limited, to house its gas business and clean energy projects like green hydrogen. The signing of the joint venture agreement with NTPC took place in the presence of ONGC chairman and CEO Arun Kumar Singh.
Servotech Power Systems in pact with Adani TotalEnergies for EV chargers supply
Servotech Power Systems has secured an annual rate contract with Adani TotalEnergies E-Mobility for the supply of EV chargers. Under the agreement, Servotech will manufacture, supply, and install AC EV chargers at various airports and other designated locations. The project will be implemented in phases, with the first phase already underway.
Adani Power inks initial pact to sell entire stake in two arms to AdaniConnex for Rs 540 cr
Adani Power has signed a deal to sell its two subsidiaries, Aviceda Infra Park and Innovant Buildwell, to AdaniConnex for Rs 540 crore. The subsidiaries will no longer be wholly-owned by Adani Power after the sale. The transaction is expected to be completed by March 31, 2024.
Malaysia Airlines eyes new routes like Goa, Vizag; set to ink codeshare pact with Indian carrier
Malaysia Airlines plans to forge a codeshare alliance with an Indian carrier and extend its operations in northern and southern India. The airline presently operates 69 weekly flights to nine Indian cities. In talks for a deep codeshare with an undisclosed Indian partner, Malaysia Airlines aims to enhance services using wide-bodied aircraft. Future plans include exploring northeast destinations like Guwahati and Kolkata, and southern cities like Trichy, Vizag, and Goa.
Good Glamm Group inks three-year exclusive brand partnership deal with Dharma Productions
Direct-to-consumer company Good Glamm Group partners exclusively with Dharma Productions for three years. Good Glamm's beauty brands will be featured in movie and OTT placements. The partnership aims to build long-term brand platforms and promote movies through Good Glamm's brand assets. Good Glamm is in talks with other production houses and studios for similar deals. The company plans to achieve profitability in the next two quarters and aims for a successful IPO by Diwali 2025.
IndoSpace inks pact with Maharashtra govt to acquire 100 acres in Pune’s Chakan-Talegaon
IndoSpace currently manages over 500 acres across nine international-standard industrial and logistics parks in the Chakan area. With nearly 10.5 million sq ft of built-up space, These parks are strategically located for e-commerce and 3PL companies looking to speed up distribution in the Pune region. This portfolio has been built with an investment of over Rs 3,500 crores.
Sun Pharma inks pact with Bayer to sell drug for chronic kidney disease
Sun Pharma has partnered up with Bayer to market Finerenone, a drug for chronic kidney disease, in India. Bayer grants non-exclusive rights to Sun Pharma to distribute Finerenone under the brand name Lyvelsa. Sun Pharma CEO emphasizes commitment to providing innovative medicines to Indian patients.
Ariana Grande to launch a new album in 2024
In an Instagram carousel featuring an array of photos and videos, Grande tantalizingly announced her return with the caption, "See you next year." The montage included a mix of in-studio snapshots capturing various emotions: a lively video of Grande's mother dancing, a screenshot of a FaceTime call capturing her own dance moves, an intriguing photo of a warehouse—potentially a music video set—and another poignant image revealing her in tears.
RBI Policy: Das cites BoE acceptance to expand regulatory oversight deals
Days after the Reserve Bank of India (RBI) and the Bank of England (BoE) reached an agreement on cooperation regarding the Clearing Corporation of India (CCIL), central bank governor Shaktikanta Das called upon other regulators to accept the same principles amid an ongoing tussle with European authorities.
JSW Infra's arm inks deal with SP Group to buy majority stake in PNP Maritime
The acquisition values PNP Port at around Rs 700 crore with a current capacity of 5 million tonnes per annum (MTPA) and potential to expand to 19MTPA. This acquisition is part of JSW Infrastructure’s strategic direction to explore opportunities to expand organically and inorganically, to provide end-to-end logistics services near the cargo consumption centres.
RBI, BoE ink MoU on CCIL, clear decks for bond trade
The move is a relief to UK-based banks Standard Chartered, Barclays and HSBC, which are themselves large players in the domestic bond and derivatives markets and are also custodians of foreign investment flows into India.
RBI, Bank of England ink pact on sharing info
Reserve Bank of India (RBI) and Bank of England (BoE) on Friday signed a Memorandum of Understanding (MoU) concerning cooperation and exchange of information in relation to the Clearing Corporation of India Limited (CCIL).
DGFT, Amazon ink MoU to promote MSMEs’ ecommerce exports
“To enable micro, small and medium enterprises (MSMEs) and boost e-commerce exports from the country, DGFT is collaborating with the various e-commerce players to leverage the Districts as Export Hubs initiative and promote e-commerce exports from the country,” the ministry said in a statement.
DPIIT, Gati Shakti Vishwavidyalaya ink pact to advance national master plan
It was signed by Gati Shakti Vishwavidyalaya Vice-Chancellor Manoj Choudhary and Joint Secretary, Logistics Division, DPIIT, E Srinivas, in the presence of Commerce and Industry Minister Piyush Goyal and Railways Minister Ashwini Vaishnaw.
SJVN inks PPA with BBMB to set up 18 MW solar project
State-owned company SJVN Ltd has entered into an agreement with Bhakra Beas Management Board (BBMB) to construct an 18 MW solar power project in Himachal Pradesh and Punjab. The project, which will reduce carbon emissions by 44,923 tonnes annually, is expected to be commissioned by August 2024.
Trinidad and Tobago inks pact for sharing Indian technology stack
The agreement was signed in the presence of officials from the Ministry of Electronics and IT (MeitY), National E-Governance Division, and the Ministry of External Affairs, according to an official release.
SJVN inks initial pact with REC to secure Rs 50,000 crore for projects
State-owned SJVN Ltd has signed an initial agreement with REC Ltd for financing of INR 500 billion for its subsidiaries and joint ventures. REC will provide financial assistance for setting up new power generating stations using conventional and renewable sources of energy, as well as for new technology projects like battery storage, green hydrogen/ammonia, hydrogen cells storage, E-vehicles, and green project manufacturing units.
MT Autocraft inks joint venture with Korean EMTC to manufacture EV powertrain
This follows the Indian auto component maker’s recent diversification into electric mobility with an investment of Rs 100 crore in MTA EV. The joint venture is a major step towards beefing the local EV manufacturing ecosystem.
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