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CPSE ETF oversubscribed 2-times, gets bids worth Rs 12,000 cr

The second tranche sale of government’s exchange traded fund (ETF) of top 10 state-owned companies saw bids worth Rs 12,000 crore from investors, which is twice the amount sought to be raised.The Reliance Mutual Fund-managed Central Public Sector Enterprises –…

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Crude oil, natural gas output down in Dec

Domestic production of crude oil and natural gas in December fell compared with the same month last year.While crude oil production fell by 0.8 per cent to 3.05 million tonnes, natural gas production for was 0.01 per cent lower at…

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GSTN to set up call centre to handle tax queries

For a smooth transition of over 80 lakh assessees to the new indirect tax regime being implemented from this July, the Goods and Services Tax Network is setting up a call centre to answer queries.?Since GST is a completely new…

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CCI clears MakeMyTrip, ibibo Group merger

The Competition Commission of India (CCI) has approved MakeMyTrip?s acquisition of rival, ibibo Group, according to documents filed by Nasdaq-listed MakeMyTrip to US Securities and Exchange Commission on late Friday.The document stated that ?On January 20, 2017, ibibo Group Holdings…

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Investors worried: Gaar may spoil tax treaty benefit for FPIs

Key benefits given to Foreign Portfolio Investors (FPIs) under amended tax treaties with Singapore, Cyprus and Mauritius may be negated by the implementation of General Anti-Avoidance Rules (Gaar). Domestic anti-avoidance law will prevail over treaty benefits in the event of…

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Forex reserves up $687.9 mn to $359.842 bn

Country’s foreign exchange reserves rose by $687.9 million to $359.842 billion in the week to January 13 helped by increase in the foreign currency assets, the Reserve Bank said on Friday.In the previous week, forex reserves had fallen by $1.14…

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