Thursday, 14 April 2016

Business Updated dated 14th April, 2016

On 00:29 by Prince Kumar in ,    No comments

Business Updates dated 14th April, 2016

  • Indian Market on Wednesday posted their biggest single day jump in over a month as a result of the India’s Meterological Department’s prediction of an “above normal” monsoon. The S&P BSE sensex gained 481.16 points to close at 25,626.75 and nifty added 141.5 points to close at 7,850.45.
  • Financial Action Task Force (FATF) called on its members and other jurisdictions to apply counter-measures to protect the international financial system from the on-going and substantial money laundering and terrorist financing (ML/FT) risks emanating from the jurisdictions of Iran and Democratic People's Republic of Korea (DPRK).
  • MCA vide Circular No. 3/2016 dated 12th April, 2016 has waived off the additional fee on e-form due for filing by the companies between 25th March, 2016 to 30th April, 2016. To take the benefit of this relaxation, stakeholders have to file such forms by 10.05.2016.
  • India was the world's largest remittance recipient in 2015 despite experiencing a $1 billion drop from 2014, the first decline in its remittances since 2009, the World Bank said. India retained its top spot in 2015, attracting about $69 billion in remittances, down from $70 billion in 2014.
  • COMPAT stays CCI approval till next hearing on May 9, 2016 in the matter of merger of cement giants Lafarge and Holcim.
  • The government will integrate 21 regulated wholesale markets, or mandis, in eight states under an online platform on Thursday as part of the proposed National Agriculture Market (NAM). On April 14, on the 125 birth anniversary of BR Ambedkar, Prime Minister Narendra Modi will launch the e-trading platform — NAM — which proposes to integrate 585 regulated wholesale market or agriculture produce market committees ( APMCs) under one electronic platform.
  • Dubai based real estate firm Emmar Properties PJSC and India's MGF Group have decided to part ways after a decade old joint venture in India.
  • The Government has slashed interest rates on loans from National Small Savings Fund (NSSF) to 8.8% from 9.5% for FY 17.
  • The Railway Board has removed the port congestion surcharge levied on cargo moving to inland distribution points.
  • World Steel Association  said global steel demand will continue to fall this year before a slight pick-up in 2017. Falling demand has plunged the global steel market into crisis, with excess capacity taking a heavy toll on producers, including those in China — leading to plant closures.

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