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JK govt rolls out ‘Start-Up Policy 2018’ to nurture budding entrepreneurs

SRINAGAR The Jammu and Kashmir government Tuesday rolled out state’s maiden ‘Start-Up Policy 2018’, which will be in force for next 10 years, for inspiring and nurtuing a new breed of entrepreneurs. “The Industries and Commerce Department formally rolled out the maiden ‘J&K Start-up Policy-2018’ for the state. The policy was approved by the State Administrative Council (SAC) headed …

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Rupee falls 47 paise to close at record low of 72.98 as crude oil rises

MUMBAI The rupee Tuesday slid further 47 paise to settle at a record low of 72.98 against the US currency due to surging crude oil prices and escalating trade war worries. Panic dollar demand from importers and speculative traders sent the home currency sinking to a historic low of 72.99 in late afternoon deals with very little chance …

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Rupee sinks to new low of 72.91, drops 22 paise against USD

MUMBAI The rupee Wednesday collapsed to a lifetime low of 72.91 against the dollar at the interbank foreign exchange market. The domestic currency was quoting 22 paise lower at a fresh record low of 72.91 against the US dollar in morning trade amid surging crude oil prices and uanabated foreign fund outflows. Escalating trade war concerns, consistent …

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Alibaba’s Zhang prepares to step from Jack Ma’s shadow

SHANGHAI (CHINA) Both in personality and skillset, Alibaba’s Daniel Zhang will herald a new era for the Chinese e-commerce giant when he takes over full leadership from charismatic founder Jack Ma. Ma announced Monday that in exactly one year he will hand the executive chairmanship of Alibaba’s board to Zhang, …

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Petrol touches Rs 90 in Maharashtra’s Parbhani

PARBHANI (MAHARASHTRA) Petrol prices on Monday shot up to Rs 89.97 in Maharashtra’s Parbhani, the highest in India, an official said. Parbhani District Petrol Dealers Association (PDPDA) President Sanjay Deshmukh said that while petrol was nearly touching the psychological barrier of Rs 90 per litre (at Rs 89.97), diesel prices stood at Rs 77.92 on …

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Rupee weakens further, hits fresh low to 72.48 against USD

MUMBAI The rupee weakened further to hit a fresh low of 72.48 against the US currency, falling 75 paise in late morning deals Monday on rising crude oil prices, strengthening dollar and a widened current account deficit. Earlier the rupee resumed slightly lower at 72.18 against last Friday’s closing level of 71.73 a dollar …

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FinMin crafting strategy to boost GST revenues, engaging with states to identify issues

NEW DELHI Alarmed by a nearly four-fold rise in GST compensation to states for June-July, the Finance Ministry is crafting a strategy to shore up tax revenues and engaging with states to identify issues hindering their collections. Finance Secretary Hasmukh Adhia has started meeting with GST officers, both from central and state tax departments, in …

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Walmart unit asked to explain India business model after Flipkart buy

NEW DELHI India’s National Company Law Appellate Tribunal (NCLAT), a local semi-judicial body, has asked a Walmart Inc unit to explain its business model in India, following an objection raised by a traders body against its $16 billion acquisition of e-commerce firm Flipkart. NCLAT, an appellate body for the Competition …

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