Finance

World power sector emissions seen peaking in 2029 -research

Global greenhouse gas emissions from the power sector are expected to peak in 2029 and then start falling, but will still be some way above levels needed to limit temperature rise, research showed on Tuesday. Electricity generation worldwide is forecast to rise by 56 percent by 2040 as economies develop and populations grow, which will hit a peak in power ... Read More »

All I-T refunds to be put directly in bank accounts: CBDT

In a step that would bring delight to taxpayers, the Income Tax department has put in motion a new plan which will ensure that any refund on tax paid is safely deposited in their personal bank account as soon as it is processed and released. The department is also planning to fully adopt and use banking services to end the ... Read More »

Brexit could push global banks away from UK, warns S&P

A vote to leave the European Union could push banks away from London, as financiers choose to locate in Dublin or Paris instead, a leading ratings agency has warned. In a new report, Standard & Poor’s said that a departure from the EU would imperil the City’s status, and could see Europe’s banking center of gravity shift away from the ... Read More »

Govt to import 5,000 tonne arhar

In a bid to curb rising prices of pulses, state-owned MMTC has invited tender to import around 5,000 tonne of arhar. According to sources, MMTC has invited bids for supply of 5,000 tonne of arhar or pigeon peas but the quantity of shipment would be increased depending on the price bids. FE recently reported on the government’s decision to import ... Read More »

Japanese equities hit 18-year high

  Wednesday 04:15 BST. Japanese shares hit an 18-year high as investors remained optimistic that Greece could secure a deal to release a tranche of much-needed financial aid. The Nikkei 225 rose as much as 0.6 per cent to 20,942.1, its highest since December 1996. On Tuesday, the Japanese benchmark closed up 1.9 per cent at 20,809.4 — a peak ... Read More »

Rocket Internet wins shareholder approval to raise more cash

BERLIN (Reuters) – German e-commerce investor Rocket Internet (RKET.DE) won shareholder approval on Tuesday to raise as much as 4.5 billion euros ($5 billion) in the next five years to invest in new ventures and increase stakes in its existing start-ups. Europe’s largest Internet company, founded in 2007, is viewed as a potential launch pad for future stock market listings ... Read More »

Centre still in the throes of Lalit row

For the Narendra Modi government, the political crisis shows no signs of abating even as it mounted efforts to bring the former IPL commissioner Lalit Modi — the cause of the Bharatiya Janata Party’s current problems — to book. An unrelenting Congress forced Union Finance Minister Arun Jaitley on Tuesday to deny giving a clean chit to Dushyant Singh, son ... Read More »

World financial fears keep Asia firms in holding pattern

Sentiment at some of Asia’s biggest firms has deteriorated as a slowing Chinese economy, Greek sovereign debt crisis and looming U.S. interest rate hike create deepening concern about the state of the world economy, a Thomson Reuters/INSEAD survey showed. The Thomson Reuters/INSEAD Asian Business Sentiment Index fell to 70 for the June quarter, from 71 in March and 74 in ... Read More »

Cash-strapped civic bodies close ranks, plan protest outside House

The three municipal corporations of Delhi — North, South and East — will sit in protest outside the Delhi Assembly starting Wednesday to put pressure on the government to table and implement the recommendations of the fourth Finance Commission. The three corporations will stage protests — North on Wednesday, South on Thursday and East on Friday — during the Budget ... Read More »

Centre yet to decide on quantum of capital infusion in PSBs

Finance Minister Arun Jaitley said on Tuesday that the government has not yet settled on the exact recapitalisation figures for the public sector banks.  “I have not decided on the recapitalisation figure. I had mentioned the figure in the budget this year. But what we require would be much more than mentioned in the budget,” Mr. Jaitley told reporters on the sidelines ... Read More »