Author: NNI Editor

The Additional Solicitor General had told the court that no consignment from Skoda Auto Volkswagen India had been or would be stopped following the tax demand notice. File | Photo Credit: Reuters Skoda Auto Volkswagen India will have to “fall in line and not play victim,” the Customs department told the Bombay High Court on Thursday (February 20, 2025), justifying its tax demand notice of $1.4 billion to the company for allegedly providing misleading information about its imports.Additional Solicitor General (ASG) N. Venkatraman, appearing for the customs department, said the rule of law is the same for everyone.“You have to…

Sensex and Nifty fell for the third day on Thursday (February 20, 2025) as fresh tariff threats, weak Asian markets and foreign fund outflows hurt investors’ sentiment. | Photo Credit: REUTERS Benchmark indices Sensex and Nifty declined for the third day on Thursday (February 20, 2025) as fresh tariff threats, weak Asian markets and foreign fund outflows hurt investors’ sentiment. The 30-share BSE Sensex dropped 203.22 points or 0.27% to settle at 75,735.96. During the day, it tanked 476.17 points or 0.62% to 75,463.01. The NSE Nifty dipped 19.75 points or 0.09% to 22,913.15. Selling in frontline stocks HDFC Bank…

 Forex traders said there is a negative bias for the USD/INR pair amid a muted trend in domestic equities and the unabated foreign fund outflow is weighing on investor sentiments. File | Photo Credit: V. V. Krishnan The rupee appreciated 33 paise to close at 86.65 (provisional) against the U.S. dollar on Thursday (February 20, 2025), supported by the weakening of the American currency in the overseas market. Forex traders said there is a negative bias for the USD/INR pair amid a muted trend in domestic equities and the unabated foreign fund outflow is weighing on investor sentiments. At the…

Southwest Airlines’ first company-wide layoffs in its nearly 54-year history are aimed at shoring up profits, but they run the risk of undermining a company culture of putting employees first that made it stand out from rivals and cultivated a loyal fan base.Until this week, the U.S. carrier never resorted to mass layoffs and furloughs, even as the industry underwent crushing downturns. But soaring costs and sagging profits forced its hand on Monday to announce that it will slash 1,750 jobs, or 15% of its corporate workforce.Conor Cunningham, an analyst at Melius, said the layoffs go against the company’s long-built…

As Moscow and Washington discuss how to end the war in Ukraine, one of the many questions on investors’ minds is whether the corporate exodus from Russia in opposition to the February 2022 invasion of its neighbour may be reversed.As long as broad Western sanctions on Russia remain in place, that looks unlikely, but should U.S. President Donald Trump’s administration seek to ease restrictions, it could open the door for some companies to return to what was once a high-growth market.Here is a rundown of the situation:Who exited and how?More than a thousand companies from McDonald’s to Mercedes-Benz have left…

The case pertains to misappropriation of depositor’s money by top officials of Guru Sarvabhauma Souharda Credit Co-operative bank in connivance with borrowers.  | Photo Credit: Photo for representation only A Special Prevention of Money Laundering Act (PMLA) court on Monday restituted 16 immovable and 46 movable properties with an approximate market value of ₹50 crore in favour of the competent authority appointed under the Karnataka Protection of Interest of Depositors in Financial Establishments Act, 2004 (KPID) for Guru Sarvabhauma Souharda Credit Co-operative Limited, Bengaluru.This, according to an official release, will help recover the loss incurred by the victims in the…

Through “Global Investor Meets”, State governments compete with each other every year to show-case themselves before the investor community and the elite, thereby giving the indication that employment promotion through new investments stands out as their policy plank. In the early part of the present century, the economic cold war between Gujarat and Maharashtra led to a search for new strategies of attracting investments. In 2003, the then Chief Minister of Gujarat, Narendra Modi, came up with the idea of ‘Vibrant Gujarat’ as an experimental project, offering a meeting place for potential investors. Various State governments including Kerala, Tamil Nadu…

BBMP officials remove Optical Fibre Cables (OFC) which were hanging at Avenue Road, Bengaluru in 2018. | Photo Credit: File Photo The story so far: The Coalition for Disaster Resilient Infrastructure (CDRI), a multilateral organisation launched by Prime Minister Narendra Modi in 2019, put out a report earlier this month studying Indian telecom networks’ preparedness in the event of disasters. The report suggests ways in which State governments can better prepare for calamities that may impact telecom networks.Why is it important? Telecom networks are crucial to handling disasters, because they allow the State and National Disaster Management Authorities to communicate quickly…

Suzuki Motor’s logo on a wheel of its Wagon R Stingray. File | Photo Credit: Reuters Japanese small car maker Suzuki Motor said it will target 4.2 million vehicles in global sales in five years’ time, an increase of nearly a third, with most of its expansion concentrated in its main market of India.It expects 60% of those sales to be in India, adding that the country would also receive 60% of the 2 trillion yen ($13 billion) it plans to invest by the 2030 financial year.The company aims to boost manufacturing capacity in India to meet expected local demand…

At the interbank foreign exchange, the rupee opened at 86.88 and gained further ground to trade at 86.79 against the greenback during early deals on February 20, 2025. | Photo Credit: PTI The rupee appreciated 19 paise to 86.79 against the US dollar in early trade on Thursday (February 20, 2025), as the American currency and crude oil prices retreated from their elevated levels. Forex traders said there is a negative bias for the USD/INR pair amid a muted trend in domestic equities and the unabated foreign fund outflow is weighing on investor sentiments. At the interbank foreign exchange, the…