Section: Business

Market ends divergent for the week, sensex gains 82 points

Published on By prameya news7 (author)

The stock market ended divergent for week with benchmark sensex gaining 81.81 points, to finish at 31,138.21, while Broader Nifty ending with modest loss of 13.10 point to conclude 9,574.95 .

7th Pay Commission: Good news for 47 lakh central government employees; HRA may be hiked

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Now, there is some good news for Central government servants and people who are directly or indirectly connected with 7th Pay Commission and hiked salaries. the government may finalise 7th pay commission allowances, including HRA (House Rent Allowance), later this month. According to National Joint Council of Action (NJCA) convenor Shiv Gopal Mishra, the 7th Pay Commission may be finalised by the end of this month. National Joint Council of Action (NJCA) is a joint organisation of unions representing central government employees. Moreover, the employee union leader who held discussions with top government officials recently, also says that there is a possibility of central government officials getting higher HRA than that recommended by the 7th pay commission.

Infosys To Settle Visa Row With New York State For $1 Million

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IT major Infosys has reached a settlement for $1 million with the state of New York in a visa-related case, even though the company maintained it committed no wrongdoings and the probe was centred on alleged paperwork errors.

Alibaba Chairman Jack Ma thinks Artificial Intelligence could lead to World War III

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Alibaba Chairman Jack Ma, in an interview to CNBC, said the rising technological advancements in artificial intelligence could lead to World War III. Speaking to the news channel, the billionaire Chinese business magnate said there is a need for the world leaders to educate people about the pain that the rapid rise in automation and artificial intelligence will bring.

Waymo hires ex-Tesla engineer to lead self- driving hardware

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Waymo has hired Satish Jeyachandran, Tesla Inc.’s former director of hardware engineering, as the mobility division created by Google parent Alphabet Inc. moves closer to commercializing its self-driving vehicle technology.

Sensex takes to caution, slips 68 points

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Market struggled to capitalise on a higher opening today as the Sensex dropped 68 points, with participants keen to scoop up profit amid mixed Asian leads. Investors are trying to figure out how the Goods and Services Tax (GST) will pan out from July 1, its launch date.

DHL says USD 100 million investment for GST solutions in India

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Global logistics group DHL, with plans to invest USD 100 million in coming years, is working with its customers to prepare for the Goods and Services Tax (GST) being implemented next month. Well ahead of the curve, DHL is planning to invest over USD 100 million in its supply chain operations in India in the next 3 to 4 years to meet the expected increasing demand following the GST implementation.

‘IT industry to witness 7-8% growth in exports in FY18’

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Notwithstanding the headwinds in form of delayed decision making due to macro-economic uncertainties, trade protectionism, visa issues, and slower growth in traditional services, the Indian information technology and business processing management (IT-BPM) industry is poised to witness a 7-8 per cent growth in its exports during FY18, with the domestic market expected to clock 10-11 per cent growth, according the the industry’s growth outlook released by lobby group Nasscom on Thursday.

Hasmukh Adhia vows soft touch at onset

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The goods and services tax (GST) Council might take a lenient view of minor compliance issues during the first six months after the new indirect tax regime is rolled out and refrain from slapping penalties on taxpayers, revenue secretary Hasmukh Adhia said on Thursday. However, he added that the soft approach would be restricted to “genuine cases” and based on the authenticity of the problems cited by the assessees in complying with the rules.

Manoj Sinha assures ‘corrective steps for orderly growth’

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Telecom minister Manoj Sinha on Thursday assured the telecom industry bigwigs that the government would take corrective steps to ensure orderly growth in the sector.