China takes over companies linked to disappeared financier.
All nine are linked to Tomorrow Party, the conglomerate of investments owned by Xiao Jianhua. The firms are among more than 40 financial institutions listed as being part of Xiao ‘s network by New Fortune Magazine in a 2017 report. Chinese regulators will take charge…
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A US travel ban would bar China’s top billionaire entrepreneurs from America.
The Trump administration is reportedly considering a ban on all members of the Chinese Communist Party and their families from moving to the United States. That could have major implications for China ‘s wealthiest business leaders and entrepreneurs. The draft order — whose existence was…
O-I Glass Agrees to Divest Australia, New Zealand Business Unit.
O-I Glass has announced that it has entered into a definitive agreement to sell its Australia and New Zealand (ANZ) business unit to Visy Industries, one of the largest privately-held packaging and resource recovery companies in the world. Gross proceeds from the sale and associated sale-leaseback…
Why Silicon Valley’s biggest companies are investing billions in India.
The biggest names in US tech have invested about $17 billion in India since the start of 2020 Amazon (AMZN) promised $1bn in January, Facebook (FB) spent almost $6bn in late April, and Google (GOOGL) overtook them all last week with a $10bn investment. They…
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SMU links up with 8 firms to offer PMEs courses for career change.
The University of Management in Singapore (SMU) is partnering up with eight companies to co-deliver courses that will support people who are keen on making a career change. The SGUnited Skills initiative is aimed at practitioners, administrators, and executives (SMEs) and aims, in particular, to…
Boohoo calls for licensing scheme to ensure textile factories fit to trade.
Boohoo has called for the UK Government to implement a licensing system to ensure that textile factories are safe for trade amid reports of abuse by suppliers to the online fashion community. The home secretary, John Lyttle, Boohoo’s chief executive, said in a letter to…
18 % GST on hand sanitiser: Manufacturers say being served pending tax notices
In a statement, former chairman of CII Himachal, Harish Aggarwal, chairman of the BBN Association, Sanjay Khurana, and national chairman of the Laghu Udyog Bharti Pharma Committee, Rajesh Gupta, said that, instead of declaring manufacturers of sanitizers as warriors of Corona, the GST department has…
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CBIC gives nod to clear pending GST registrations under ‘special drive’ by July 30.
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Sanitisers soaps, not medicaments; will attract higher 18% GST.
Amid the ongoing debate over goods and services tax (GST) rate on hand sanitizers, the government on Wednesday clarified alcohol-based hand sanitizers will continue to be levied at the standard rate of 18 percent as the product is a disinfectant like soaps and not a…
Covid-19: Alcohol-based hand sanitizers to attract 18% GST, rules AAR.
The Goa Bench of the GST Advance Ruling Authority (AAR) has held that the alcohol-based hygiene drug would attract 18 per cent GST in the midst of the ongoing debate on the rate of goods and services tax (GST) on hand sanitizers. This added that…
Over 1,300 exporters go missing after taking GST credits wrongfully.
The government has also identified 7,516 entities as risky exporters running through the red flags raised by different statutory agencies Of the 1,377 missing exporters, seven had been accredited as star exporters. At their main place of activity, more than 1,300 exporters who have wrongly…
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