Switzerland retains top tax haven position, US climbs to number 3

New Delhi: Switzerland has retained the top position in the financial secrecy index of 2015, as per the Tax Justice Network announced on Monday. According to The Times of India report, Switzerland is followed by Hong Kong, the US, Singapore and the Cayman Islands.The biggest surprise is the US, which has climbed to third place from sixth place in FSI-2013. ... Read More »

Sovereign Gold Bonds to attract investors over other options: Report

Mumbai: Sovereign gold bonds are likely to excel over other investment products such as gold exchange traded funds and physical bars, says a report. The Sovereign Gold Bond Scheme (SGBS) may address pure investment demand for the yellow metal and is easy to implement relative to the gold monetisation scheme, the India Ratings report said. It said the successful launch ... Read More »

SEBI cautions investors against illegal fund raising schemes

New Delhi: Concerned over a number of schemes floated by companies for illegal fund raising even after being barred to do so, regulator SEBI Monday cautioned investors and general public against dealing with such entities. Making public a list of 95 entities, which included many from West Bengal, the capital market watchdog asked investors not to invest in their illegal ... Read More »

Rupee ends at one-month low of 65.59 against US dollar

Mumbai: The rupee plunged by 32 paise against the US dollar to one-month low of 65.59 on fresh demand for the American currency from banks and importers amid persistent fall in equity markets coupled with strong foreign capital outflows. Mumbai: The rupee plunged by 32 paise against the US dollar to one-month low of 65.59 on fresh demand for the ... Read More »

Coffee Day stock market debut off-colour, plunges nearly 18%

Mumbai: Shares of leading coffee chain operator Coffee Day Enterprises made a weak debut on the bourses Monday, plunging nearly 18 percent, over the issue price of Rs 328. The stock of Coffee Day Enterprises, which runs Cafe Coffee Day (CCD) chain, listed at Rs 313, a discount of 4.57 percent over the issue price on BSE. Massive selling soon ... Read More »

Sensex falls for sixth straight day, logs longest losing run in 5 months

Mumbai: Markets seemed to be caught in a downward spiral as the benchmark BSE Sensex Monday fell for the sixth day — its longest losing run since June — as investors continued to head for the exit mode following weak results and a sluggish global trend. It was a day when nothing worked for the markets as a private survey ... Read More »

FIIs trim stake in 35 Nifty stocks in Q2

New Delhi: Foreign institutional investors (FIIs) have reduced their exposure in 35 Nifty companies during July-September quarter as they recast their portfolio primarily on account of global factors. FIIs, on an aggregate basis, holding in 50-share Nifty has remained flat at 28.6 per cent during the period under review, as per a report by ICICI Securities. Market experts said that ... Read More »

Money laundering to become difficult in next 1-2 years: Finance Minister

New Delhi: Finance Minister Arun Jaitley today said tax evasion and money laundering will become “extremely difficult” in the next 1-2 years, with real-time global automatic exchange of information system coming into effect. “I am quite certain that the activity is going on in that direction and the next 1-2 years are also going to bring significant results because with almost ... Read More »

Government could cut corporate tax to 25% earlier than expected: Revenue secretary Hasmukh Adhia

New Delhi: Government may cut corporate tax to 25 percent from 30 percent before the expiry of the four year deadline, Revenue Secretary Hasmukh Adhia said on Monday. Corporate Inc. is also likely to see the roadmap for putting an end to corporate tax exemptions by December, and government was preparing blueprint for dealing with existing tax litigations, added the Revenue Secretary. Finance Minister ... Read More »

Moody’s ups Indian banking sector outlook to stable

New Delhi: Moody’s Investors Service today upgraded its outlook for India’s banking system to ‘stable’ from ‘negative’ on expectation that a gradual improvement in the operating environment for lenders will lead to lesser growth in bad loans in future. Moody’s had assigned a negative outlook to the Indian banking system in November 2011 as it was of the view that the ... Read More »