A panel of the goods and services tax (GST) council, which is authorized to take emergency decisions, on Monday decided to extend the deadline for filing detailed indirect tax returns for July, giving taxpayers extra time for compliance. Businesses and traders have to file detailed returns for their transactions in ... Read More »

Food ordering and restaurant discovery platform Zomato Media Pvt. Ltd is in talks with China’s payments giant Ant Financial Services Group to raise $100-200 million, three people familiar with the matter said. The deal, which hasn’t been finalized, may value Zomato at between $800 million and $900 million, said two ... Read More »

Hyundai Motor Co said its China plant halted operation due to a supply disruption on Tuesday, its second shutdown in China in less than a month as diplomatic tensions between China and South Korea over a US missile defence system took toll on its business. One of the five China ... Read More »

India is looking to reduce the number of state-run banks to 10 to 15, more than what was envisaged earlier, through a series of mergers and acquisitions so that none of the banks become too big to fail, said Sanjeev Sanyal, principal economic adviser at the finance ministry. “Consolidation will ... Read More »

The income tax department will maintain the number of tax returns chosen for scrutiny at the current level of less than 1% of all returns in spite of a surge in individual tax filings to keep the process non-intrusive and tax-payer friendly. Gentle persuasion through text messages, emails and advertisements ... Read More »

Leading stock exchange BSE will ‘compulsorily’ delist 200 firms this week and bar their promoters from the markets for 10 years as trading in these shares have remained suspended for over a decade. All these companies will be delisted from August 23. The move also comes at a time when ... Read More »

India’s wholesale price inflation rate picked up in July after easing for four straight months, with food prices back on the rise. The wholesale price index rose 1.88% in July from a year earlier, compared with an increase of 0.63% in July 2016, government data showed on Monday. The rise compares ... Read More »

Mozambique, a country emerging as a natural gas leader, is one step closer to developing the infrastructure needed for LNG, Anadarko Petroleum said. Anadarko, which has headquarters in the United States, said Monday it finalized agreements with the government of Mozambique that open the door for the construction of a ... Read More »

 Norway is the most trustworthy partner for European natural gas and most Germans see the United States as less-than-forthcoming on energy, a survey found. Forsa Institute, one of the leading polling firms in Germany, conducted a survey of public opinion about the regional energy industry on behalf of German energy ... Read More »

 With more than $90 million in cash, the capital is available to support the development of the rich oil reserves offshore Senegal, an Australian company said. FAR Ltd., an Australian energy company and one of the early movers into West Africa, said two blocks offshore Gambia hold at least 1 ... Read More »

Contribution of the country’s small towns to mutual funds asset base surged 46 per cent to Rs.3.5 lakh crore by June-end due to initiatives taken by markets watchdog Sebi and the sectoral regulator Amfi. Mutual funds’ assets under management (AUM) from B15 locations – small towns beyond top 15 (T15) ... Read More »

State-owned Oil and Natural Gas Corp (ONGC) has sought pricing and marketing freedom to help bring to production a one-trillion cubic feet gas discovery that will open up a new sedimentary basin after over three decades. ONGC, which has opened for commercial production six out of India’s seven producing basins, ... Read More »