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FM submits copy of draft taxes code to PM

Finance Minister Pranab Mukherjee on Tuesday submitted a copy of the draft direct taxes code to Prime Minister Manmohan Singh, in the wake of apprehensions in various quarters on a proposal by the draft code to tax the employees’ provident fund (EPF) at the time of withdrawal.

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The year that was...
The year 2009 saw the industry combating the shadows of global slowdown. A year full of challenges, which kick-started with the Vibrant Gujarat summit, was also a blessing in disguise in some cases especially with pharma companies returning homewards to Gujarat or brain drain from the reputed insitutes like IITs and IIMs being contained for the time being. While acquisitions and mergers gained some momentum in the later half of 2009, some of the special economic zone projects were hit. Companies responded with more innovative solutions while waking up to newer challenges. Problems in land acquisitions continue to remain although the process has been far more peaceful in Gujarat as compared to other states. This can be guaged from the fact that the first Nano by Tata Motors at Sanand got ready this year
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News Corp slips into red; posts $203 mn quarterly loss
Media conglomerate News Corp has posted a loss of $203 million for the fourth quarter ended June 30, primarily bogged down by impairment charges.

IDBI Bank may shelve variable pay plan
IDBI Bank is expected to formally shelve its plan to become the first public sector lender to introduce variable pay for its employees.

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