Business

India will lead the world in smartphone adoption with a net addition of 350 million connections in 2016-20, says a GSM Association report released in Barcelona.

Yesterday, the rupee had ended higher by 12 paise at 66.70 against the American currency on fresh bouts of dollar selling amid an overall upbeat sentiment following the release of GDP data.

The GST Council has proposed to raise the peak tax rate to 20 per cent, from the current 14 per cent, in the model goods and services tax Bill to preclude the requirement of approaching Parliament for any change in rates in future.

Pepsi says slumping sales from Philadelphia's new sweetened-beverage tax are prompting layoffs of 80 to 100 workers at three distribution plants that serve the city.

The government plans to get the GST Council's approval on iGST (integrated GST), cGST (central GST) and sGST (state GST) drafts at its March 4-5 meeting before the second half of the budget session of Parliament begins on March 9.

The states' fiscal deficit will rise only marginally to 3.3 percent in fiscal year 2017-18 from the expected 3.2 percent in 2016-17, domestic ratings agency India Ratings and Research (Ind-Ra) said on Monday.

Infosys has sought shareholders' approval to change the company's Articles of Association, which includes a provision for buyback.

The rupee on Thursday staged a smart recovery by gaining 14 paise to close at 66.82 a dollar on fresh selling of the American currency by banks and exporters on the back of weakness of greenback in the overseas market.

Yesterday, the rupee had dropped by 14 paise to close at 67.02 on continued demand for the dollar coupled with its growing strength overseas.

The 30-share Sensex resumed higher at 28,450.42 and advanced to 28,458.80 following initial buying by investors and sustained foreign fund inflows.

"A merger deal is being explored by the shareholders of the two banks. Merger would unlock huge synergies, as Kotak Bank has a strong corporate banking franchise while Axis is strong on the retail front, the report quoted a fund manager as saying.

After two sessions of losses, the benchmark Sensex recovered almost 173 points and the NSE Nifty retook the 8,800-mark in early trade on Thursday on fresh spell of buying by participants.

Steady on a recovery path, the rupee on Thursday went past its three-month high in early trade to 66.95 against the dollar on sustained selling of the American currency by exporters and banks.

These charges have been introduced for the period from January 1, 2017, and will be applicable till March 31, 2017.

The US dollar's gains against some currencies overseas and a lower opening in the domestic equity market put the rupee on the back foot, forex dealers said.

At Rs 3,700 scam, it's turning out into one of India's biggest online scams. Noida Police have charged a company called Ablaze Info Solutions with duping tens of thousands of gullible subscribers by adding them into a money-chain like business model