Local Currency Trade: India rules out Brics currency proposal, backs local currency trade settlements

Leaders pose for a family photo during the Brics summit in New Delhi (Picture credit: Reuters) There is currently no proposal to introduce a common Brics currency, while discussions on settling bilateral trade in local currencies will continue as a way to reduce transaction costs, Sudhakar Dalela, secretary (economic relations) in the ministry of external…

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Data centre boom: India’s infrastructure opportunity could hit $90 billion

India’s infrastructure opportunity could hit $90 billion India’s growing data centre sector could open up a $90 billion opportunity for construction and infrastructure companies by FY35, according to a KPMG report. The opportunity is expected to rise from $30 billion by FY30 as the country adds more data centre capacity.India’s data centre capacity is expected…

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CAS closing price under review: Sebi proposes 2 options for expiry settlement

Sebi proposes 2 options for expiry settlement The closing auction session (CAS) could see a change in how its closing price is used for settling index and stock derivative contracts on expiry, with markets regulator Sebi proposing two alternative methodologies after reviewing the newly introduced framework.Sebi’s consultation paper released on Saturday seeks stakeholder views on…

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Minor child had Rs 1.17 crore interest income, father faced Rs 12.83 lakh penalty; ITAT Delhi cancels it, rules tax-rate dispute isn’t under-reporting

Clubbing of income is a provision under the Income Tax Act. Can a minor child’s interest income lead to an income tax notice for the father? The Income Tax Appellate Tribunal (ITAT) Delhi has held that a father cannot be subjected to a Rs 12.83 lakh penalty under Section 270A when the income declared in…

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Sylvester Stallone sold his 23-acre ranch for $4 million, almost half its listing price; then joined Tom Cruise and Jack Nicholson to buy 160 acres in Colorado |

Sylvester Stallone made a striking real-estate move in 1992, selling his sprawling 23-acre White Eagle Ranch in California for $4 million in cash while simultaneously expanding his property interests in Colorado. The ranch in Hidden Valley had been transformed by Stallone from a relatively modest property into an elaborate equestrian estate with 29 horse stalls,…

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In 1982, Israel released 28 wild donkeys to its desert; 44 years later, they created an oasis in one of Earth’s most extreme places

Donkeys are more than just packs of animals and load carriers; these herbivores have the capacity to contribute more to the environment than most humans. Over four decades ago, authorities in Israel released 28 wild donkeys into the Ramon Crater, an extremely arid area of Israel’s Negev Desert. The animals’ daily habits completely transformed the…

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