ECONOMY & NATION


IANS 22 November 2023
The Enforcement Directorate (ED) on Tuesday said that it attached properties worth Rs 751.9 crore in a money-laundering case against Associated Journals Ltd. (AJL), the company which owns various publications including National Herald.   The investigation agency claimed that both...

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IANS 22 November 2023
The Adjudicating Authority of the Enforcement Directorate (ED) has issued 'show cause' notices to edtech firm Think and Learn Private Limited, and Byju Raveendran over alleged violation to the tune of Rs 9362.35 crore under the Foreign Exchange Management Act (FEMA) 1999.   The ED in...

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IANS 22 November 2023
Inflationary risks continue to persist keeping the Centre and the Reserve Bank of India (RBI) on high alert, according to the finance ministry's monthly economic report for October released on Tuesday.   However, a decline in international crude oil prices will help control...

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IANS 22 November 2023
Binance Founder Changpeng Zhao (also known as CZ) on Wednesday announced that he will step down as the CEO of the world's largest cryptocurrency exchange, after pleading guilty to federal charges and agreeing to pay $4.3 billion in fines.   Binance Holdings Limited (Binance), the...

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Moneylife Digital Team 21 November 2023
The US Supreme Court has rejected a petition by Tata Consultancy Services Ltd (TCS) to file an appeal against the orders passed by the US Court of Appeals, which confirmed the punitive damages award of US$140mn (million) passed by the district court of Wisconsin.   Confirming the...

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Moneylife Digital Team 21 November 2023
While terming the central board of direct taxes (CBDT)’s theory of 'travel back in time' for reopening assessment cases as bad in law, the Delhi High Court (HC) quashed around 50 reassessment orders related to assessment year (AY)16-17 and AY17-18 having income escapement of below Rs50...

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IANS 21 November 2023
Mohalla Tech, the parent company of social media platform ShareChat, saw its losses swell over 38% to Rs4,064 crore during FY22-23 compared to Rs2,941 crore in FY21-22.   Mohalla Tech posted a 62% increase in its revenue from operations to Rs540.21 crore from Rs332.69 crore in...

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IANS 21 November 2023
After hiring Sam Altman to lead Microsoft’s advanced artificail intelligence (AI) research, the company’s chairman and chief executive officer (CEO) Satya Nadella has said that it’s still possible that Mr Altman could return to OpenAI in some capacity.   In an interview with CNBC,...

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IANS 20 November 2023
In another dramatic development, Microsoft chairman and chief executive officer (CEO), Satya Nadella, on Monday announced the company is hiring former OpenAI CEO Sam Altman and co-founder Greg Brockman to pursue its advanced AI research.   Mr Altman, who was fired by OpenAI last week,...

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Moneylife Digital Team 20 November 2023
The enforcement directorate (ED) has filed a prosecution complaint against Amway India Enterprise Pvt Ltd before the Metropolitan Sessions Judge cum Special Court (PMLA) at Hyderabad under the Prevention of Money Laundering Act (PMLA). Amway, however, says the complaint filed by ED is related...

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IANS 20 November 2023
The Supreme Court on Monday raised questions over the delay by Tamil Nadu Governor R.N. Ravi in giving assent to the Bills passed by the state legislature.   A bench headed by CJI D.Y. Chandrachud and Justices J.B. Pardiwala and Manoj Misra said the Governor returned 10 out of 12...

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IANS 20 November 2023
The suspense over Sam Altman’s return as the CEO of OpenAI continued on Monday as OpenAI leaders and investors sought to reinstate Altman at the company which unceremoniously sacked him on November 17.   The final negotiations were still on between Altman and the company, with one big...

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Moneylife Digital Team 18 November 2023
Reserve Bank of India (RBI)'s former governor, S Venkitaramanan, passed away Saturday morning in Chennai due to illness. The 92-year-old officer from the Indian Administrative Service (IAS) is survived by his two daughters, Girija and Sudha, and their families. Mr Venkitaramanan was RBI...

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Moneylife Digital Team 17 November 2023
In a shocking incident, UCO Bank revealed that due to technical issues in IMPS (immediate payment service), certain transactions initiated by other bank account-holders resulted in credit to its account-holders without actual receipt of money from these banks. UCO Bank says it blocked...

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IANS 17 November 2023
Japanese investment giant SoftBank is going to sell its stake worth $150 million in logistics firm Delhivery, media reported on Thursday.   According to Moneycontrol, citing sources, SoftBank is likely to sell the shares which equates to a around 4 per cent stake in Delhivery, via a...

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IANS 16 November 2023
Recent investigations by the Delhi police's economic offences Wing (EOW) have uncovered alleged financial irregularities in BharatPe's operations.   Co-founder Ashneer Grover and his family members are allegedly involved in questionable practices, including the use of backdated...

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Moneylife Digital Team/ IANS 16 November 2023
Subarata Roy, the founder of Sahara India Pariwar, breathed his last Tuesday following a cardiac arrest after a prolonged illness. He was 75.   Mourning the demise of Mr Roy, the Sahara India group said in a statement, "With profound sadness, the Sahara India Pariwar informs the...

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Moneylife Digital Team/ IANS 14 November 2023
Gautam Singhania, chairman and managing director (CMD) of Raymond issued a statement to announce separation from his wife, Nawaz Modi Singhania. Ms Modi Singhania is a director in at least 10 of the private and publicly-listed companies of the Singhania family, including its flagship Raymond.

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Moneylife Digital Team 13 November 2023
The central bureau of investigation (CBI) has registered a case against IL&FS Securities Services Ltd (ISSL), the company officials and others for allegedly causing a loss of Rs330.43 crore to Central Bank of India and other banks by way of diversion of disbursed bank funds, says a...

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IANS 13 November 2023
Ports in several Australian cities have been shut down due to a massive cyber attack, triggering concerns about shortages of key supplies amid the festive season for several days ahead.   A “serious and ongoing” cybersecurity incident hit port operator DP World Australia, which...

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