Here are the top stories this evening:
Mukesh Ambani steps down as Reliance Jio director, Akash Ambani appointed as chairman
The board of Reliance Jio, the telecom arm of oil-to-retail conglomerate Reliance Industries Ltd (RIL), has appointed Akash Ambani as its chairman, a regulatory filing stated on June 28. Akash Ambani, the son of RIL chief Mukesh Ambani, had joined Jio in 2014. His elevation as the board chairman was announced along with the news of Mukesh Ambani stepping down as the director of Jio.
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GST Council accepts interim report of GoM on rate rationalisation, sources say
India’s GST Council has accepted the interim report by a group of ministers (GoM) that was formed to look into the rationalisation of rates under the indirect tax system, sources said on June 28. All the recommendations of the GoM were accepted, they said. The GST Council met today in Chandigarh and the meeting will conclude tomorrow.
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GST Council to discuss compensation to states, tax on online gaming on June 29
The GST Council is all set to discuss on June 29 the subject of compensation to states and what Goods and Services Tax (GST) to levy on online gaming and casinos. The two heavyweight subjects are on the agenda for June 29 after the interim report on rate rationalisation of the Group of Ministers was accepted on June 28.
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Four die after ONGC helicopter makes emergency landing in Arabian Sea
Four people aboard a helicopter of the Oil and Natural Gas Corporation Limited, which met with a mishap earlier on June 28, lost their lives after being brought unconscious to the hospital, the state-run company said.
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Taking Stock | Market ends flat amid volatility
Indian shares ended flat after a highly volatile session on June 28, with the 30-pack Sensex closing 16.17 points, or 0.03 percent, higher at 53,177.45 and the Nifty was up 18.20 points, or 0.11 percent, at 15,850.20. The market started a weak note on negative global cues but made some headway mid-session to end flat helped by buying in auto, metal and oil & gas stocks.
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Can India adopt a Fed-style dot plot for interest rates? Not yet, say experts
Issues ranging from differences in the nature and availability of data in India and an uncertain global and domestic economic outlook loom as hurdles in the Reserve Bank of India (RBI) adopting a Federal Reserve-style “dot plot,” economists say.
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The Phantom of Bombay House passes on
Pallonji Mistry, head of the real estate and construction conglomerate Shapoorji Pallonji Group, which was known for its deep ties to the Tata Group in the past, passed away on June 28 at his home in Mumbai at the age of 93, as confirmed by group executives. Referred to as the ‘Phantom of Bombay House’ in Mumbai’s business circles because of his reclusive nature and conspicuous absence in social circles, Mistry, his family and the group were the single-largest private shareholder in the Tata Group at one time.
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