Rupee up by 4 paise against U.S. dollar in early trade
The Indian rupee moved up by 4 paise to 44.39 per U.S. dollar in early trade on Friday on fresh selling of the American currency by banks and exporters in view of the persistent fall of the dollar in overseas markets.
At the Interbank Foreign Exchange, the domestic currency opened steady at 44.43/44 per dollar, but moved up to 44.39 per dollar before quoting at 44.41/42 at 1030 hours.
It moved in a range between 44.39 and 44.47 in morning deals.
Banks and exporters preferred to reduce their dollar positions on the back of the sustained fall of the dollar in the New York market, a forex dealer said.
The U.S. Dollar fell for the sixth straight day yesterday in the New York market, as stocks inched up and gave currency traders more reason to shift out of perceived safe havens.
Friday, April 29, 2011
Tuesday, April 19, 2011
Tax notice to Kings XI Punjab
Tax notice to Kings XI Punjab
Indian Premier League [ Images ] team Kings XI Punjab [ Images ] was issued a notice for non-payment of entertainment duty, which it owed for the first match of the fourth edition of the Indian Premier League, played at the PCA stadium in Mohali on April 13.
Also, the franchise team was not yet accorded mandatory permission for the stock, sale and service of liquor for the remaining three fixtures slated here for April 21, May 8 and 10.
After the KXIP failed to deposit the requisite entertainment duty even five days after the first match, the Excise and Taxation department issued a notice on Monday to its management asking to submit the details of the tickets sold and revenue generated and pay the requisite entertainment duty at the rate of 25 per cent of the total income.
Assistant Excise and Taxation Commissioner (AETC) Baldeep Kaur has directed the team management to deposit the levy without any further delay, failing which action under Land Revenue Act would be initiated against the organisers for recovery of entertainment duty arrears.
Confirming the development, Kaur said that the application of the KXIP seeking permission for the rest of three matches was still under consideration and a decision will be taken shortly after taking into account the terms and conditions followed during the first match.
Though the home team had initially sought permission for all the four matches to be held here but the permission was accorded only for the first game, that also on the condition that the permission for the other three would be given after checking the compliance of terms and conditions during the first match.
The franchise had paid Rs 56,32,314 on account of entertainment duty payable on the income from sale of tickets during the IPL season III for two matches played here on April 2 and 9, 2010, to procure the permission for IPL season IV matches.
However, the KXIP had been waived off almost Rs 2 crore entertainment duty, which they owed for the matches played before March 31, 2010.
Indian Premier League [ Images ] team Kings XI Punjab [ Images ] was issued a notice for non-payment of entertainment duty, which it owed for the first match of the fourth edition of the Indian Premier League, played at the PCA stadium in Mohali on April 13.
Also, the franchise team was not yet accorded mandatory permission for the stock, sale and service of liquor for the remaining three fixtures slated here for April 21, May 8 and 10.
After the KXIP failed to deposit the requisite entertainment duty even five days after the first match, the Excise and Taxation department issued a notice on Monday to its management asking to submit the details of the tickets sold and revenue generated and pay the requisite entertainment duty at the rate of 25 per cent of the total income.
Assistant Excise and Taxation Commissioner (AETC) Baldeep Kaur has directed the team management to deposit the levy without any further delay, failing which action under Land Revenue Act would be initiated against the organisers for recovery of entertainment duty arrears.
Confirming the development, Kaur said that the application of the KXIP seeking permission for the rest of three matches was still under consideration and a decision will be taken shortly after taking into account the terms and conditions followed during the first match.
Though the home team had initially sought permission for all the four matches to be held here but the permission was accorded only for the first game, that also on the condition that the permission for the other three would be given after checking the compliance of terms and conditions during the first match.
The franchise had paid Rs 56,32,314 on account of entertainment duty payable on the income from sale of tickets during the IPL season III for two matches played here on April 2 and 9, 2010, to procure the permission for IPL season IV matches.
However, the KXIP had been waived off almost Rs 2 crore entertainment duty, which they owed for the matches played before March 31, 2010.
Indian firms make a profit of Rs 6 lakh per employee
Indian firms make a profit of Rs 6 lakh per employee
According to a new survey by PricewaterhouseCoopers, Indian companies pay a salary of Rs 4.8 lakh (Rs 480,000) to each of their employee on an average, and earn a profit of Rs 6 lakh (Rs 600,000) per employee in return.
According to the study, Measuring Human Capital: Driving Business Results, organisations in India pay an average remuneration of Rs 4.8 lakh and earn Rs 6 lakh of profit per employee, which makes the human capital return ratio on investment to 1.79 for organisations in the country.
Besides, companies make an investment of Rs 7,000 on learning and development (L&D) per employee.
It further said that Indian companies make a pure profit of Rs 15 from every Rs 100-worth revenue generated by their each employee.
"With India being the fastest growing economy, organisations that would maximise their human capital contribution to business performance, would be the ones to best leverage the positive economic environment," PwC India, leader, people and change practice, Sankar Ramamurthy said.
Among sectors, engineering and manufacturing generate the most revenue and profits per employee followed by fast moving consumer goods and pharmaceutical space.
Moreover, organisations with higher revenue base incur 1.3 times higher cost per employee but also earn 1.4 times higher profit per employee organisations compared with lower revenue base companies.
The report, which is based on a survey of 37 firms across different sectors noted that Indian organisations spend about Rs 25,500 per hire on an average.
However, FMCG and other unclassified sectors spend more than double the amount towards their recruitment. This could be because of the high cost of their recruitment teams.
The report further said that information technology and information technology enabled services (IT/ITeS) sector recruits the highest number of graduates, but when it comes to retaining entry level talent, engineering and manufacturing sector leads the industry.
IT/ITeS, which has the lowest spend on L&D per employee, witness the highest termination and resignation rate as well.
According to a new survey by PricewaterhouseCoopers, Indian companies pay a salary of Rs 4.8 lakh (Rs 480,000) to each of their employee on an average, and earn a profit of Rs 6 lakh (Rs 600,000) per employee in return.
According to the study, Measuring Human Capital: Driving Business Results, organisations in India pay an average remuneration of Rs 4.8 lakh and earn Rs 6 lakh of profit per employee, which makes the human capital return ratio on investment to 1.79 for organisations in the country.
Besides, companies make an investment of Rs 7,000 on learning and development (L&D) per employee.
It further said that Indian companies make a pure profit of Rs 15 from every Rs 100-worth revenue generated by their each employee.
"With India being the fastest growing economy, organisations that would maximise their human capital contribution to business performance, would be the ones to best leverage the positive economic environment," PwC India, leader, people and change practice, Sankar Ramamurthy said.
Among sectors, engineering and manufacturing generate the most revenue and profits per employee followed by fast moving consumer goods and pharmaceutical space.
Moreover, organisations with higher revenue base incur 1.3 times higher cost per employee but also earn 1.4 times higher profit per employee organisations compared with lower revenue base companies.
The report, which is based on a survey of 37 firms across different sectors noted that Indian organisations spend about Rs 25,500 per hire on an average.
However, FMCG and other unclassified sectors spend more than double the amount towards their recruitment. This could be because of the high cost of their recruitment teams.
The report further said that information technology and information technology enabled services (IT/ITeS) sector recruits the highest number of graduates, but when it comes to retaining entry level talent, engineering and manufacturing sector leads the industry.
IT/ITeS, which has the lowest spend on L&D per employee, witness the highest termination and resignation rate as well.
Thursday, April 14, 2011
BRICS powers criticise Western strikes in Libya - source
BRICS powers criticise Western strikes in Libya - source
SANYA, China (Reuters) - Leaders from the five "BRICS" emerging powers joined in criticising the Western air campaign in Libya, a government source at the summit said on Thursday, when Brazil, Russia , India, China and South Africa met in southern China.
"They all condemned the bombings," said a government source who participated in the meeting of the BRICS country leaders. The source said the leaders voiced concern about the effects of the air strikes on Libyan civilians.
The source spoke on condition that his country not be identified.
He said that South Africa, which voted for the United Nations Security Council resolution authorising the "no fly" zone over Libya was among the countries that joined in the criticism.
Western warplanes began striking Libya last month, but embattled leader Muammar Gaddafi has refused to yield to calls from rebel groups and other governments for him to step down, and his forces remain locked in combat with the rebels.
The comment came ahead of a final statement from the summit of the five big emerging powers, which will reject the use of force in the Middle East and North Africa at a summit on Thursday, urging instead dialogue and non-intervention, according to a draft statement.
In the context of the Middle East and Northern Africa, specifically Libya, the BRICS "share the principle that the use of force must be avoided", according to the draft statement, a copy of which was seen by Reuters.
China, Russia , India, Brazil and other developing countries have condemned the U.S.-led air strikes on Libyan forces.
South Africa, on the other hand, voted in favour of the United Nations Security Council resolution authorising the strikes. But during a visit to Tripoli on Sunday, South African President Jacob Zuma called for NATO to stop air strikes.
The BRICS summit, in the southern Chinese resort of Sanya, has also given the world's big rising economies a venue to coordinate views on global financial reforms, commodity prices and other shared concerns.
SANYA, China (Reuters) - Leaders from the five "BRICS" emerging powers joined in criticising the Western air campaign in Libya, a government source at the summit said on Thursday, when Brazil, Russia , India, China and South Africa met in southern China.
"They all condemned the bombings," said a government source who participated in the meeting of the BRICS country leaders. The source said the leaders voiced concern about the effects of the air strikes on Libyan civilians.
The source spoke on condition that his country not be identified.
He said that South Africa, which voted for the United Nations Security Council resolution authorising the "no fly" zone over Libya was among the countries that joined in the criticism.
Western warplanes began striking Libya last month, but embattled leader Muammar Gaddafi has refused to yield to calls from rebel groups and other governments for him to step down, and his forces remain locked in combat with the rebels.
The comment came ahead of a final statement from the summit of the five big emerging powers, which will reject the use of force in the Middle East and North Africa at a summit on Thursday, urging instead dialogue and non-intervention, according to a draft statement.
In the context of the Middle East and Northern Africa, specifically Libya, the BRICS "share the principle that the use of force must be avoided", according to the draft statement, a copy of which was seen by Reuters.
China, Russia , India, Brazil and other developing countries have condemned the U.S.-led air strikes on Libyan forces.
South Africa, on the other hand, voted in favour of the United Nations Security Council resolution authorising the strikes. But during a visit to Tripoli on Sunday, South African President Jacob Zuma called for NATO to stop air strikes.
The BRICS summit, in the southern Chinese resort of Sanya, has also given the world's big rising economies a venue to coordinate views on global financial reforms, commodity prices and other shared concerns.
::IPL 2011:: Pune Warriors India beat Kochi Tuskers Kerala
Improving on their performance Pune Warriors India beat Kochi Tuskers Kerala in their second encounter. They beat Kochi Tuskers by 8 Wickets in a match held yesterday at D.Y. Patil Stadium Navi Mumbai.
Tuesday, April 12, 2011
::IPL 2011:: Pune Warriors India beat Kings XI Punjab
Pune Warriors India have beaten Kings XI Punjab in their inaugral match at D.Y. Patil Stadium at Navi Mumbai. Pune Warriors lead by Yuvaraj Singh defeated Kings XI Punjab by 4 runs.
Monday, April 11, 2011
::IPL 2011: Mumbai Indians Beat Delhi Daredevils
Mumbai Indians have beaten Delhi Daredevils by 8 wickets in their inaugural IPL match in Delhi.
Sunday, April 10, 2011
::IPL 2011: Chennai Super Kings beat Kolkata Knight Riders
Chennai Super Kings have defeated Kolkata Knight Riders to win the first Match of IPL 2011.
Friday, April 8, 2011
::IPL 2011: Chennai Super Kings vs Kolkatta Knight Riders
Indian Primer League 2011 has started with the first match between Chennai Super Kings and Kolkatta Kinght Riders.
Sunday, April 3, 2011
::Cricket World Cup 2011:: India Beat Sri Lanka!! India Win World Cup
India have comprehensively defeated Sri Lanka in the finals of Cricket World Cup 2011 at Mumbai, India. India won the match by 6 wickets. MS Dhoni the captain of Indian Cricket team was the man of the Match. Yuvraj Singh was named Man of the series. Sanchin Tendulkar who was playing his last world cup was hourned by all the crickers. Entire Indian nation was ecstatic on winning its 2nd world cup after 1983.
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