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CBDT dismisses reports of extension in deadline to file Income Tax Return
Amid reports of an extension of the last date to file for Income Tax returns, the Central Board of Direct Taxes (CBDT) on Saturday while denying the same said no such proposal was made. This is an important step forward by the CBDT for several reasons, out of which the principle reason being technology. The module compiles various tax tools, live chat facility, dynamic updates, and important links to various processes within the Income Tax Department in a single module.
Silver prices climbed Rs 100 to Rs 39,250 per kg; gold steady
Silver prices climbed Rs 100 to Rs 39,250 per kg at the bullion market on Saturday, tracking a firm trend overseas and increased offtake by consuming industries. Gold, however, remained flat at Rs 29,300 per 10 grams in scattered deals even as it strengthened overseas. Traders attributed the rise in silver prices to positive global cues amid pick-up in demand from industrial units and coin makers at the domestic spot market.
Limited Edition McDonald's Boombox
Introducing the limited edition McDonald's Boombox. A recyclable drink tray turns into a portable speaker made in collaboration with the University of Waterloo's Audio Research Group and also the industrial design group Stacklab. Full details about the McDonald's Boombox on my blog!.
Elsewhere, Euro rallied to its highest level since
January 2015 after offical data showed France's economy grow in the second quarter by 0.5 per cent representing the ninth quarterly rise. The local currency, however recovered against the Japanese Yen to settle at 57.66 per 100 yens from 57.67. Oil was buoyed this week by a big draw in official US crude inventories in the latest week. US West Texas Intermediate (WTI) crude futures ended Friday's session up 67 cents, or 1.4 percent, to USD 49.71.
Asus Zenfone AR: Your first date with Google Tango and Daydream
It was Lenovo Phab 2 Pro that first came with Google Tango - an Augmented Reality (AR) platform for smartphones - but it failed to cast a spell on the Indian market. Taiwanese smartphone maker Asus has now unveiled Zenfone AR that is the first premium-category smartphone which is not only Tango-enabled but also packs Google Daydream - a Virtual Reality (VR) platform. The Rs 49,999 smartphone sports top-notch specifications like Snapdragon 821 chipset, a whopping 8GB RAM and 23MP TriTec camera at rear.
Apple is removing VPN services from China App Store
Apple Inc is removing virtual private network (VPN) services from its app store in China, VPN service providers said on Saturday, accusing the US tech giant of bowing to pressure from Beijing to comply with stringent cyberspace regulations. VPN provider ExpressVPN said on Saturday that it had received a notice from Apple that its software would be removed from the China App Store because it includes content that is illegal in China.
U.S. government ordered to solve 'Case of the Incredible Shrinking Airline Seat'
US aviation authorities were ordered back to the drawing board on Friday to solve what a federal appeals judge called The Case of the Incredible Shrinking Airline Seat. Judge Patricia Millett told the Federal Aviation Administration to take another look at an advocacy group's assertion that shrinking airline seats are imperiling passenger safety. The judge rejected the FAA's argument that seat size was unimportant to getting off the plane in an emergency.
Challenge lies in IBC's successful implementation: SC judge
The Code, which provides for a market-determined and time-bound resolution of insolvency proceedings, became operational in December 2016. In case a multinational company goes into insolvency, then multiple proceedings in various countries might be involved. The challenge is in successful implementation of the Code, he said and suggested that NCLT and insolvency professionals should look at how mediation can be used. , Justice Sikri said, adding that mediation is a process where the role of practitioners is more important.
AT&T executives to run combined company after Time Warner deal
John Donovan, currently chief strategy officer, has been named chief executive of AT&T Communications, which will include AT&T`s wireless and DirecTV businesses. The deal, expected to close by the end of the year, would give AT&T control of cable TV channels HBO and CNN, film studio Warner Bros and other coveted media assets. AT&T also said that Lori Lee will lead AT&T`s international business in addition to her responsibilities as global marketing officer.
AI enabled Cloud solutions set to win the race: IBM India
According to IDC, the cognitive systems and AI market will grow to $47 billion in 2020. When I say an 'enterprise-grade' Cloud, I mean that we have a global network of data centres. Present in India since 1951, IBM India has expanded its operations with regional headquarters in Bengaluru and offices across 20 cities. With over 55 Cloud centres in 19 countries, IBM Cloud is the leader in Enterprise Cloud.
Centre plans to set up petrochemical clusters: Pradhan
The Centre is planning to set up petrochemical clusters in eastern, western and southern India, to spur growth of the sector amid increasing demand, union minister Dharmendra Pradhan said here today. We plan to set up a number of petrochemical clusters, two each in east and west coasts, and some in south India. Pradhan said Centre was committed to see that the industry grows to meet demand. Like we have increased refining capacity, we will ensure that petrochemical requirements are also met, said the minister.
Chinese Billionaire's Fortune Jumps $8 Billion In 48 Hours
A big bet on small Chinese cities has resulted in eye-popping gains for one real estate mogul. Hui Ka Yan, who chairs Hong Kong-listed property developer Evergrande Group, has seen his fortune leap by $8 billion to $33.5 billion in just two days as shares of his firm rocketed up more than 34%. He is now the third richest person in China, according to Forbes Real-Time Ranking of the world's billionaires, behind Alibaba's Jack Ma and Tencent chairman Ma Huateng.
China produces gas from 'flammable ice' under South China Sea
China has successfully produced natural gas from methane hydrate, also known as flammable ice, in an experimental project in the South China Sea, the land and resources ministry said on Saturday. Flammable ice consists of methane trapped within water crystals, and has been identified as a potential new gas source for China, with the South China Sea thought to contain some of the world's most promising deposits. The government has promised to actively develop natural gas hydrate over the 2016-2020 five-year plan period.
New consumer protection bill could be next big game changer
It also brings new forms of trade under the purview of the act to safeguard the interests of consumers further. This leads towards the class action suits introduction in the country in which all affected consumers will derive benefits. In the changing market place with e-commerce and financial products having made heavy inroads, the outdated Consumer Protection Act of 1988 serves little or no purpose in protecting consumers.
Dryfruits: Dryfruit prices, led by almond and walnut,
Edged higher at the wholesale markets during the period on increased buying by stockists and retailers, supported by rising domestic and export demand. Tight stocks following restricted arrivals from producing regions and overseas markets too influenced prices. Sentiments remained firm mostly on increased offtake by stockists and retailers, triggered by domestic and export demand, marketmen said. Chilgoza-roasted prices improved by Rs 100 to close at Rs 2,600-2,800 per kg.
Kirana: In a mixed pattern of trading, select spices
Such as pepper and jeera, firmed up in the national capital during the week following increased buying by stockists, triggered by rising domestic and export demand. Black pepper prices rose by Rs 10 to conclude at Rs 530- 720 per kg on brisk buying by exporters. Cloves and chirounji prices higher up to Rs 10 to conclude at Rs 560-675 and Rs 550-700 per kg. Mace-red and yellow prices went up by Rs 10 each to end at Rs 650-840 and Rs 930-950 per kg.
Apple sidesteps controversy; pays $2 billion to Nokia
Tech giant Apple settled their existing issues over patents with Nokia by making a payment of USD two billion, indicating the iPhone maker's urge to avoid a controversy. The terms of the licensing deal, however, have not been revealed by any of the companies. We got upfront cash payment of EUR 1.7 billion from Apple, strengthening further our cash position. The legal dispute started when Apple was charged with violating over a dozen patents of Nokia and its subsidiaries.
Market logs fourth weekly gain in row, Nifty tag 10,000-level
Shrugging off volatility at the global levels, strong economic fundamentels lifted the domestic equities, primarily the broader Nifty which breached the psychological 10,000- level during the week trade. The Sensex had gained 1,388.27 points or 4.49 per cent in four weeks. The Nifty started the week at 9,936.80 and touched new milestone at 10,114.85 and low of 9,919.60. The index finally closed at 10,014.50, up 1.00 pct from last weekend's level. The second-line shares of midcap and smallcap ended with substantial gains.
Jaggery: The wholesale gur (jaggery) market ended on a
On the other hand, Muzaffarnagar gur market depicted a weak trend on poor demand amid fresh supplies, prices fell by up to Rs 100 per quintal. Meanwhile, Muradnagar gur market disclosed a steady tone in listless trading. At Muzaffarnagar, gur Chakku plummeted by Rs 100 to end the week at Rs 3,100-3,200 per quintal. Gur Raskat prices also dropped by Rs 25 to settle the week at Rs 2,600-2,650 per quintal. Trading in gur Khurpa and Laddoo remained suspended due to scarcity of stocks.
INTERVIEW-Motor racing-China is a long-term play for F1, says Carey
Formula One views China as a long-term play and a second grand prix in the nation of 1.3 billion people remains years away, according to the sport's chairman and chief executive Chase Carey. They are markets that will probably be important to Formula One in a five to 10 year timeframe, not a three-year timeframe, he added. While negotiations continue, there has also been talk of China eventually hosting a second race along with expansion in the United States.

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