Tag: Government Finances

States’ market borrowings skyrocket 76% to Rs 1.93 lakh cr so far this fiscal: Report

MUMBAI: The states, reeling from massive revenue losses due to coronavirus lockdowns, have front-loaded their borrowings by a whopping 76 per cent so far this...

itat orders: In a landmark judgment, ITAT orders payment of tax on Rs 196 crore stashed abroad

A Swiss bank account holder, with a declared annual income of Rs 1.70 lakhs will now have to pay taxes on Rs 196 crores stashed...

India investment body backs incentives for $706 million Samsung display plant: letter

NEW DELHI/LUCKNOW (Reuters) – Samsung Electronics should get tax and other incentives from India’s northern state of Uttar Pradesh as the South Korean company looks...

German government backs ‘electronics you can trust’

FILE PHOTO: German Minister of Education and Research Anja Karliczek attends a news conference on the 2020 report of the expert commission on research and...

Germany stamps authority on Lufthansa with $9.8 billion lifeline

FRANKFURT/BERLIN (Reuters) – Germany threw Lufthansa (LHAG.DE) a 9 billion euro ($9.8 billion) lifeline on Monday, agreeing a bailout which gives Berlin a veto in...

Lufthansa, German government agree on $9.8 billion rescue package: sources

FRANKFURT/BERLIN (Reuters) – The German government and the management of flagship carrier Lufthansa (LHAG.DE), which has been hit hard by the coronavirus pandemic, have reached...

Japan to end Tokyo’s state of emergency, eyes fresh $930 billion stimulus

TOKYO (Reuters) – Japan will lift a state of emergency for Tokyo and remaining areas still facing restrictions on Monday, while the Nikkei reported a...

Japan eyes fresh stimulus plan worth over $929 billion to battle pandemic: Nikkei

TOKYO (Reuters) – Japan is considering a fresh stimulus package worth over $929 billion that will consist mostly of financial aid programmes for companies hit...

Fed, Treasury chiefs face heat over uneven U.S. coronavirus response

WASHINGTON (Reuters) – Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin found themselves in the hot seat on Tuesday as U.S. lawmakers grilled...

Temporary layoff schemes no cure-all in slow COVID recovery

BRUSSELS (Reuters) – Temporary unemployment schemes operating across Europe could struggle to save the jobs of leisure and travel sector workers facing drawn-out or partial...

Italian PM Conte says Fiat Chrysler entitled to seek state-backed loan

MILAN (Reuters) – Italian Prime Minister Giuseppe Conte said on Saturday that Fiat Chrysler was entitled to apply for Italy’s state-backed loans because the automaker...

France to impose digital tax this year regardless of any new international levy

PARIS (Reuters) – France will tax big digital businesses this year whether there is progress or not towards an international deal on a levy, its...

White House considers more coronavirus stimulus, with conditions: officials

WASHINGTON (Reuters) – The White House has started informal talks with Republicans and Democrats in Congress about next steps on coronavirus relief legislation, officials said...

U.S. small business rescue program ignored Congress: watchdog

(Reuters) – The U.S. government’s $660 billion program to rescue small businesses hit by the coronavirus pandemic thwarts the intention of Congress by making it...

No ‘V’-shape return from devastating U.S. job loss, Fed policymakers say

SAN FRANCISCO (Reuters) – As many parts of the world’s biggest economy begin to reopen after weeks of stay-at-home orders that slowed the spread of...

United Airlines to cut 30% of management in October, preparing pilot changes too: company memos

(Reuters) – United Airlines Holdings Inc (UAL.O) plans to cut at least 3,400 management and administrative positions in October as the coronavirus pandemic crushes air...

Syrian tycoon appeals to Assad in rare video to help save his telecom firm

AMMAN (Reuters) – Syria’s leading tycoon, Rami Makhlouf, said he will appeal to President Bashar al-Assad to allow his mobile communications company, Syriatel, to reschedule...

Trump threatens new tariffs on China in retaliation for coronavirus

WASHINGTON (Reuters) – U.S. President Donald Trump said on Thursday his hard-fought trade deal with China was now of secondary importance to the coronavirus pandemic...

Trump threatens new tariffs on China as U.S. mulls retaliatory action over virus

WASHINGTON (Reuters) – U.S. President Donald Trump said on Thursday his hard-fought trade deal with China was now of secondary importance to the coronavirus pandemic...

U.S. payroll protection program: What has changed in round two?

WASHINGTON (Reuters) – The Small Business Administration on Monday began allowing lenders to process $310 billion in funds for the second round of its program...

U.S. airlines receive extra $9.5 billion in payroll support: U.S. Treasury

WASHINGTON (Reuters) – The U.S. Treasury Department said on Saturday it has released $9.5 billion in additional funds from the Payroll Support Program to U.S....

Australia launches controversial COVID-19 tracking app as some states start easing rules

MELBOURNE (Reuters) – The Australian government launched a controversial coronavirus tracing app on Sunday and promised to legislate privacy protections around it as authorities try...

More U.S. companies return payroll loans after new Treasury guidance

WASHINGTON/BOSTON (Reuters) – U.S. companies on Thursday began refusing government loans they were just awarded, after the Treasury Department said that publicly traded firms would...

U.S. House meets to pass $500 billion in coronavirus relief as unemployment soars

WASHINGTON (Reuters) – Hundreds of members of the U.S. House of Representatives gathered in Washington on Thursday to pass a $484 billion coronavirus relief bill,...

China to cut new energy vehicle subsidies by 10% this year

BEIJING (Reuters) – China will cut subsidies on new energy vehicles (NEV) such as electric cars by 10% this year, the finance ministry said on...