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2,797.00 0.04%
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87,823,270
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0.04%
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1,441
17
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5,039.13 -0.31%
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DAR ALARKAN
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ALINMA
24.06
SAUDI RE
10.04
As IndiGo faces turbulence, regulators intensify scrutiny of governance lapses - Dotemirates

As IndiGo faces turbulence, regulators intensify scrutiny of governance lapses

New Delhi: With promoter spat intensifying at the country's largest airline IndiGo, markets watchdog Sebi and the corporate affairs ministry have started digging deep into allegations of governance lapses and violations that could force the government to override existing arrangements and pacts at InterGlobe Aviation, officials said. Bringing into public the differences between long-time friends and promoters of IndiGo into the open, Rakesh Gangwal has sought Sebi's intervention into alleged corporate governance lapses at the company and even said that 'paan ki dukaan' (betel shop) would have managed things with more grace. InterGlobe Aviation, which got listed in 2015, has...


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Business News

11/08/2019

Expat in the UAE? Ask yourself these financial questions

The appeal of a high standard of living, low taxation, high salaries - and, of course, the sunshine - have long attracted expatriates to Dubai and Abu Dhabi. However, the majority of expats living in the UAE don't plan on staying there for their entire lives. Indeed, the expat life is typically transient. As such, it's important to consider the length of time you are planning to remain in the UAE and make the most of the competitive financial rewards and tax-free environment during that time. There are a number of financial questions expats based in the UAE should ask...
11/08/2019

UK power cut: Andrea Leadsom launches government investigation

The government has launched an investigation into Friday's huge power cut which affected nearly one million people across England and Wales.Business Secretary Andrea Leadsom said a committee will look at what happened.Train passengers were stranded, traffic lights failed to work and thousands of homes were plunged into darkness during the blackout.The investigation will consider whether the procedures followed by National Grid are fit for purpose.Mrs Leadsom said the power outages "caused enormous disruption", adding: "National Grid must urgently review and report to Ofgem." The Energy Emergencies Executive Committee, carrying out the inquiry, will also explore whether there were any technical...

Govt likely to announce steps to remove friction points in economy to boost growth

New Delhi: The government is working on a set of measures to remove friction points in the economy with a view to ensuring easy availability of funds to productive sectors and stimulate overall growth, sources said. However, the strategy being worked out does not include proposal for reduction of GST rates as the government believes that taxes are already lower than in the past, they added. The set of measures being firmed up by the finance ministry is based on the feedback received by Finance Minister Nirmala Sitharaman during her interactions with different stakeholders, including industry chambers, bankers and foreign...

11/08/2019

SSE in talks with Ovo over sale of UK energy business

Energy company SSE, which supplies almost six million UK households, says it is negotiating the sale of its energy retail business to Ovo Group. But it says no decision has been made by the two firms on finalising a deal. If a deal is reached, Ovo will become one of the UK's largest energy firms, having been founded just 10 years ago.In May, SSE announced plans to offload its energy services division after more than 500,000 households switched to a new supplier in the year to April.'Long-term future'SSE - one of the so-called Big Six energy suppliers - said it...

Macro data, policy cues to drive markets in holiday-shortened week: Analysts

New Delhi: Equity markets will focus on macroeconomic data as well as government measures to support growth and address tax issues in the holiday-shortened week ahead, analysts said. Bourses would remain closed on Monday and Thursday for Bakri Id and Independence Day, respectively. "Going ahead investors will closely monitor government measures on supporting growth and Foreign Portfolio Investors (FPI) tax issues," said Vinod Nair, Head Of Research at Geojit Financial Services. Markets may on Tuesday react to industrial production numbers released post market hours on Friday. India's industrial production growth slipped to a four-month low of 2 per cent in...
11/08/2019

RBS 'set to appoint Rose as next boss'

Royal Bank of Scotland is set to name Alison Rose as its first female chief executive, succeeding Ross McEwan, it has been reported.Rose, who runs RBS's commercial arm, is considered the preferred candidate, but chair Howard Davies has said the bank would consider external candidates.It would make her the first woman to run any of the big four banks.City and banking regulators are now in the process of considering RBS's move to appoint her, Sky has reported.An announcement of her appointment to lead the taxpayer-owned lender could come as early as this week. The government still owns a 62.4% stake...