Shares of Wipro gained more than 2 percent intraday on December 13 after the company said it has signed a multi-year cyber governance contract with Tokyo's Olympus.Olympus, a global medtech company, is passionate about optical and digital solutions for the medical, life sciences and industrial equipment industries as well as cameras and audio products."Wipro has been awarded a strategic multi-year cyber governance, cloud and infrastructure services transformation engagement by Olympus," the Bangalore-based IT company said in its BSE filing.Close For this transformation, Wipro said it would leverage its SHINRAI delivery framework, which is designed specifically for engagements in Japan. "It has stringent quality processes and ensures reliable and predictable delivery to improve customer satisfaction and experience." related news Nifty Bank marches toward record high on likely resolution of 4 NPA cases in December BGR Energy share price locked in 20% upper circuit on Rs … [Read more...] about Wipro share price gains 2% on multi-year cyber governance contract from Tokyo’s Olympus
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The price of onion has been hovering above Rs 100 per kilogram for over a month leaving the entire nation wailing. Skyrocketed prices of this key kitchen staple has not only left households teary-eyed but traders, wholesalers, and farmers have also been equally affected as people are beginning to cut back using the costly bulb.Scores of small restaurants are also feeling the pinch as rising prices of onion is taking a hit on their business. While some restaurants are opting to pass on the burden to customers, many others are mulling over reducing the usage of onion until the situation stabilises.The power of the bulb, which is an essential utility item for the rich as it is for the poor, can be seen in ways that it is tempting thieves, destroying livelihoods and putting a question mark on the policies of the Prime Minister Narendra Modi-led government.Close Even as the Centre is taking steps to tackle the onion crisis, the Opposition is leaving no opportunity to target the government … [Read more...] about In-Depth | When onion made India cry: How onion price rise affects politics, business and the common man
High net worth Indians (HNIs) are looking to secure their assets against possible loan defaults in the current economic climate are turning to newer tax havens as the government now receives data from Switzerland, reports The Economic Times.Malta, Dubai and Singapore have emerged as new favourites where Indians create 'family trusts' to which their assets are transferred to insulate against future litigation, the paper added. These trusts then become the holding entity or beneficiary for the family.However, the paper quoted an expert as saying that such arrangements help from a tax point of view, but given present laws it would be more beneficial if created by non-resident Indians (NRIs).Close Apart from the uncertain economic situation, an expert told the paper that HNIs are looking at this as a means of tax planning to diversify their investments. related news NCL aims coal production of 115 MT by FY24, to stop road evacuation Corp Affairs Ministry reviews … [Read more...] about Are HNIs moving to these newer tax havens to secure assets against uncertainty?
The Agriculture Ministry on December 13 further extended relaxed fumigation norms for imported onions till January 31 in a bid to improve domestic supply and check prices that are ruling above Rs 100 per kg in many cities. The second extension has been given as most of the onion shipments are expected to arrive by next month.Currently, state-run MMTC is importing onion on the behalf of the government which has decided to buy 1.2 lakh tonnes from the overseas market to increase domestic supplies. The government is also facilitating private imports as well.MMTC has contracted to import about 30,000 tonnes of onions so far. Of this, 12,660 tonnes will reach India from December 27 onwards. The agency has been asked to issue fresh tenders for additional 15,000 tonnes of onions.Close "The competent authority has extended the relaxation of additional inspection fee on fumigation treatment conditions and endorsement of additional declaration in phytosanitary certificate for import of … [Read more...] about Govt further extends relaxed fumigation norms on imported onions till January
The government has in recent months announced several measures to bring the flagging economy back on track. The measures include some important ones such as a cut in the corporate tax rate, funding of stalled real estate projects, and faster GST refund process.To highlight the impact of these measures on the economy, Finance Minister Nirmala Sitharaman addressed a press conference on December 13.On concerns over economic growth, she said, "We are not engaging in any predictions on economic growth, we are here to intervene in the economy when needed".Close On reports of a possible increase in Goods and Services Tax (GST) rates, she said, "The Ministry is yet to have any discussions with the GST Council on the issue. Sitharaman added that all there is, is "speculation churning". related news Forex reserves soar $2.3 bn to touch all-time high of $453 bn Exports contract marginally to $25.98 bn in November Krishnamurthy Subramanian, Chief Economic Adviser to government, who … [Read more...] about Economy report card after govt measures: Key takeaways from FM Sitharaman’s press conference