Et news oct 1


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Et news oct 1

  1. 1. ET News3rd to 9th Oct.<br />DeepinderKaurGrewal<br />MBA 2C<br />
  2. 2. #1. US green card's now more of a tax sword for Indians.<br />Increasing number of Indians wanting to give up their green cards or US citizenship<br />after the country’s heavy budgetary deficit and <br />a drive to trace unreported income through tighter tax laws and <br />disclosure norms. <br />A major reason is the stringent tax laws. <br />With rising budgetary deficits, their tax laws are increasingly becoming stringent. <br />
  3. 3. Contt…..<br />And more such laws are in the offing. <br />From 2011, Inheritance Tax, at the rate of 20%, would be levied on heirs of US citizens. Many Indians are wary of such laws.<br />Tax laws in the US empower the Internal Revenue Service, the apex body for US tax administration, <br />to tax global incomes of those holding US citizenships or the green card. <br />As a result, Indians who hold a US citizenship or green card, face the threat of being taxed in the US<br />for income generated in India, even if the Indian business has no territorial nexus with the US. <br />
  4. 4. #2. DTC uses CWG to showcase India's ability to host international mega events.<br />The ongoing XIXth Commonwealth Games has served as an ideal platform for the Delhi Transport Corporation (DTC) to showcase its ability to transform its fleet of buses into vehicles matching international standards.<br />Currently, 600 high-tech buses manufactured by TATA Motors are being run across the length and breadth of the national capital with the help of green fuel-CNG. <br />This exclusive fleet is being used to transport athletes, media and technicians participating in the CWG. <br />
  5. 5. Contt….<br />The fleet is operating out of the CWG bus depot at Indraprastha, Delhi, along the banks of river Yamuna. <br />It is spread over 60 acres land and is the largest depot in the world with a capacity of 1000 buses. <br />It was developed in a record time of nine months with full-fledged parking facilities, workshops, CNG filling and washing units. <br />It has been built from the land retrieved from the ash pond of an erstwhile power plant. <br />
  6. 6. #3. Wipro fraud probe hints at involvement of multiple officials.<br />The involvement of multiple officials and units within the company’s financial department, people familiar with the ongoing probe.<br />will file its annual report with the US Securities and Exchange Commission for the year-ended March 2010 more than a month after the scheduled September 30 deadline, as it awaits the investigations to be completed. <br />Audit firm Ernst & Young, will submit their reports to the company’s board later this month.<br />The embezzlement has been happening over three years. <br />It cannot be carried out in isolation. <br />
  7. 7. Contt……<br />The objective of investigations is to identify the process improvements and even fix accountability.<br />It was still too early to draw conclusions, since the investigation is expected to be completed by October-end only. <br />The fraud came to light in December last year after a banker to the firm alerted Wipro about an overdraft.<br />An employee working with Wipro’s ‘controllership’ division, within the finance department, had embezzled about $4 million by exploiting the exclusivity of access to the company’s banking accounts. <br />
  8. 8. #4. India will soon start to outpace China: Economist.<br />India will soon start to outpace China, thanks to a young and growing workforce and its "much-derided democracy.<br />the country's state may be weak, but its private companies are strong.<br />Its economy is expected to expand by 8.5 percent this year.<br />It has a long way to go before it is as rich as China - the Chinese economy is four times bigger- <br />but its growth rate could overtake China's by 2013, if not before. <br />
  9. 9. Contt…..<br />India will grow faster than any other large country over the next 25 years. Rapid growth in a country of 1.2 billion people is exciting, to put it mildly.<br />China's workforce will shortly start ageing; in a few years' time, it will start shrinking.<br />That's because of its one-child policy - an oppressive measure that no Indian government would get away with.<br />India is now blessed with a young and growing workforce. Its dependency ratio - the proportion of children and old people to working-age adults - is one of the best in the world and will remain so for a generation.<br />
  10. 10. Contt…..<br />Indian capitalism is driven by millions of entrepreneurs all furiously doing their own thing. <br />Ideas flow easily around India, since it lacks China's culture of secrecy and censorship.<br />That, plus China's rampant piracy, is why knowledge-based industries such as software love India but shun the Middle Kingdom.<br />But as the global economy becomes more knowledge-intensive, India's advantage will grow.<br />
  11. 11. #5. Nokia launches C3 in India.<br />Nokia today announced the launch of the Nokia C3 in India, <br />the first device to bring a full QWERTY keyboard to the world's most popular mobile phone platform- Series 40. <br />Nokia C3 allow users to view, post, comment, share locations and <br />even update their status on social networks such as Facebook and Twitter straight from the homescreen.<br />
  12. 12. Contt……<br />The new device is preloaded with Ovi Mail and Ovi Chat for the first time users which will help them set up email and chat accounts straight from the device without the need for a PC.<br />Other features include a megapixel camera, rich colour screen and support for up to 8GB memory card. <br />It is available now in two colours -- golden white and slate grey and soon in hot pink too. <br />Nokia C3 will be available nationally starting with Nokia Pirority Stores at an MRP of Rs7249.<br />
  13. 13. Thank you<br />