Business

The Central Board of Direct Taxes (CBDT) has launched a probe into possible tax evasion and laundering of unaccounted income through investments in virtual digital assets (VDAs), including high-risk VDA transactions and cryptocurrencies, sources in the government said on Thursday.The tax authority is currently verifying individuals and entities engaged in high-risk VDA transactions who appear…

India has achieved substantial success in diminishing poverty rates. (AI image) India’s poverty rate is expected to come down further to 4.6 per cent in 2024, according to a State Bank of India (SBI) report. A new World Bank report projects that India’s extreme poverty has come down drastically in the last ten years, from…

China has issued temporary export permits to rare-earth suppliers serving the three largest US automobile manufacturers. (AI image) Are the US and China finally moving towards some trade agreement? Chinese President Xi Jinping has consented to permit the export of rare earth minerals and magnets to the United States, according to US President Donald Trump‘s…

Swiss brokerage UBS has revised its forecast for India’s FY26 GDP growth to 6.4% from the earlier 6%, citing resilient economic momentum despite ongoing global trade tensions.This revision comes after official data last week showed India’s economy grew by 7.4% in the March quarter, pulling the full-year 2024-25 GDP growth down to 6.5%, compared with…

The Walt Disney Company is cutting several hundred jobs across its film and television divisions, a Disney spokesperson confirmed to USA TODAY. The layoffs, which formally took effect on Monday, June 2, impact departments involved in marketing, publicity, casting, development, and parts of corporate finance. No entire teams are being dissolved, the company said.A Disney…

PM to inaugurate Chenab rail bridge NEW DELHI: Prime Minister Narendra Modi will inaugurate the world’s highest railway bridge, built over the Chenab River in Reasi district on June 6. Union minister Jitendra Singh confirmed this on Tuesday.Along with the bridge, the Prime Minister will also launch the Katra-Srinagar Vande Bharat train service. In a…

The Organisation for Economic Co-operation and Development (OECD) lowered its global economic growth forecast on Tuesday, citing the impact of a widening trade war driven by US President Donald Trump’s tariff policies. The Paris-based organization warned that these measures, particularly new tariffs, are set to significantly slow the world economy, with the United States expected…

NEW DELHI: An Indian-origin UC Berkeley graduate has sparked a debate about the startup funding ecosystem after claiming he received responses from 27 venture capitalists—four of whom asked for a meeting—by posing as a fake founder with no real product or pitch, but with the right mix of elite buzzwords.Bhavye Khetan, who earned a bachelor’s…

Market experts anticipate continued consolidation amidst unfavourable global indicators. (AI image) Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, were volatile in trade on Tuesday. While Nifty50 went below 24,550, BSE Sensex sank over 700 points. At 1:17 PM, Nifty50 was trading at 24,517.95, down 199 points or 0.80%. BSE Sensex…

Considering the ongoing US-China tension and weakness in the US Dollar Index, it is advisable to buy the dips with stoploss below $3,325/$3300. (AI image) Gold price prediction today: Gold rates have shown considerable volatility recently, without establishing a definitive trend in either direction. International developments, particularly the trade tariff decisions by Donald Trump and…