OECD

Amid the current geopolitical and debt crisis, there is a pressing need to check tax evasion and illicit financial flows, especially by Asian nations, which lost estimated 25 billion euros in revenue in 2016, OECD's Tax Transparency report said on Thursday.
Quoting a study, the OECD report said 4 per cent of Asia's financial wealth amounting to 1.2 trillion euros was held offshore, leading to a potential annual revenue loss of 25 billion euros for the region in 2016.
The Tax Transparency in Asia 2023: Asia Initiative Progress Report said that the current global landscape makes the fight against tax evasion and other illicit financial flows (IFFs) even more pressing in the aftermath of the COVID-19 pandemic, and the geopolitical crisis resulted in slower economic growth, increased government expenditure on public health, social and economic support, and other areas.
This resulted in reduced tax revenues and hindered states' finances. With a deteriorated debt outlook and the rise in .

Money laundering

Just a few votes to the contrary can result in a jurisdiction getting added to the list of nations under increased monitoring

Illicit capital flows in developing world as high as $3.5 tn in 2014: Study

Illicit capital is mostly channelled through mis-invoicing

Given the relatively small weight in the Bloomberg Global Aggregate Index, analysts expect India's inclusion could take place in one shot

bonds market, currencies, currency, RBI, yield

India's addition to a major global gauge will give global investors greater access to the world's fastest-growing large economy that offers some of the highest returns in the region

JPMorgan Chase & Co

The rally in PSBs, analysts feel, was more a knee-jerk reaction to the development, and the actual benefits will start to accrue once the addition takes place in 2024

Banks

Closing Bell on Friday, September 22: The Nifty PSU Bank jumped the most, rising 3.5 per cent

BSE, NSE, Sensex, Nifty, stock markets

Stocks to Watch today, September 22, 2023: Glenmark Pharmaceuticals Board has approved the divestment of a 75 per cent stake in its subsidiary Glenmark Life Sciences to Nirma for Rs 5,651 crore

Markets, market valuation, stocks, Sensex, Adani Group

The two-wheeler segment accounted for 56 per cent of the EVs sold in 2023, followed by three-wheelers and passenger vehicles

Electric vehicles

The available data does not obviate the significance of the recent performance and resilience of the Indian economy, including in the context of the concomitant global trends

Economic growth, GDP

Crude has soared by about a quarter since mid-June, with Riyadh and Moscow joining hands to curtail exports in a bid to drain inventories and drive a rebound in prices

oil, crude, petroleum, crude oil, oil barrels

The European Central Bank delivered a 10th consecutive hike last week, though signalled that the peak may have been reached

He emphasised that a multipolar world needs strong and effective multilateral institutions, yet global governance is stuck in time

UN Secretary-General Antonio Guterres

Overseas institutions are also a better bet for Adani. Tapping Indian banks, especially state-run lenders, would be a tad cheaper, but might invite greater political scrutiny ahead of general election

Adani, Adani Group

India's ambitions for green hydrogen are riding the coat-tails of Chinese equipment, with Beijing's global stranglehold on the green hydrogen business now extending to New Delhi

green energy targets in mind, but is India technology-ready?

green energy

While posing a complex challenge, slums also offer a unique opportunity for morally and economically imperative urban development

Dharavi

As part of the partnership, Infosys will have access to NVIDIA's full-stack gen AI program and will set up a NVIDIA Centre of Excellence

NVIDIA Founder & CEO, Jensen Huang with Infosys Co-founder & Chairman, Nandan Nilekani (Photo: Infosys)

NVIDIA Founder & CEO, Jensen Huang with Infosys Co-founder & Chairman, Nandan Nilekani

The board of the private sector lender is scheduled to meet on Friday, September 22, 2023 to consider the raising of funds by issue of equity shares / any other equity linked securities.

Karnataka Bank

India had a total of 1,580 GCCs with a talent base of 1.66 million as of FY23, according to the latest Nasscom-Zinnov report

Global capability centres go beyond Tier-I cities, chasing cost and talent

Bike and auto-rickshaw aggregator Rapido has drawn up plans bring on board 200 women drivers over the next three months, the company said on Friday.
Currently, Rapido Auto has engaged 50 female 'captains' hailing from diverse backgrounds in the city for its ride-hailing service, and it aims add more than 200 active captains in the next three months through collaborations with various Coimbatore-based non-governmental organisations, the company said in a release.
Rapido will equip the women captains with essential safety and driving skills through the comprehensive training programme in collaboration with the NGOs. It also plans to launch micro-loans and family health insurance for women auto captains in Coimbatore, the release added.
This initiative would enable women to earn between Rs 800 and Rs 1,000 a day, translating to a monthly income of Rs 25,000 to Rs 30,000, it added.
"Rapido Auto, as a company, is deeply committed to fostering gender empowerment and inclusivity. Our jour

Bike taxi startup Rapido plans to ramp up hiring of women captains

Rapido

The tax notice comes at a time when the company, valued at over $566 million, is already facing heat over the recent move in July by the country's GST Council to impose a 28% indirect tax

Chief Minister Shivraj Singh Chouhan announced this at a public meeting in Indore

Shivraj Singh Chouhan

Ukraine struck the headquarters of Russia's Black Sea Fleet in a missile attack Friday that left a serviceman missing and the main building smoldering, according to military officials on both sides of the war and images from the scene in Crimea.
The Russian Defence Ministry initially said one servicemember was killed but then issued a subsequent statement saying he was missing following the attack in the port city of Sevastopol.
The Crimean Peninsula, which Russia illegally annexed from Ukraine in 2014, has been a frequent target since Russian President Vladimir Putin ordered a full-scale invasion of Ukraine almost 19 months ago.
Crimea has served as the key hub supporting Moscow's invasion of Ukraine. Sevastopol, the main base of Russia's Black Sea Fleet since the 19th century, has had a particular importance for navy operations since the start of the invasion of Ukraine.
Ukraine has increasingly targeted naval facilities in Crimea in recent weeks while the brunt of its summer ...

Heatmap

Illicit capital flows

Need to check tax evasion, illicit fund flows by developing nations: OECD

Illicit money flows: UAE set to be placed on FATF's 'gray list'

Illicit capital flows in developing world as high as $3.5 tn in 2014: Study