1. Investors brace for transaction tax hike, less friendly Budget
Negative impact by lowering corporate tax rates, mitigating note ban impact.
Investors in India are bracing for higher taxes and fewer incentives from the government’s annual Budget on February 1, as the focus shifts to wringing out revenues to finance giveaways and higher public investment.
General anti-avoidance rule (GAAR) is an anti-tax avoidance Rule of India.
2. US economic growth slows to 1.9% in Q4; weakest in 5 years
Steady consumer spending and rising business investment.
US economic growth slowed sharply in the fourth quarter as a plunge in shipments of soybeans weighed on exports, but steady consumer spending and rising business investment suggested the economy would continue to expand.
Accumulated inventories at this rate in the last quarter.
3. ‘Desh’ to set up India’s largest start-up incubator at Hubballi
Incubator in Hubballi will be sector-agnostic
The Deshpande Foundation, the philanthropy arm of Silicon Valley entrepreneur Gururaj ‘Desh’ Deshpande, will launch the country’s largest start-up incubation centre here (earlier Hubli), alongside the new campus of information technology giant Infosys.
To be opened this September and able to seat 1,200 people at any point.
4. L&T Q3 net up 39% at Rs 972 cr, co says note ban ‘a disruptor’
The infrastructure conglomerate’s total is Rs 26,286.98 crore.
- Larsen & Toubro (L&T), has reported a 38.85 per cent jump in its consolidated net profit at Rs 972 crore for the December quarter.
- The company has said that the government’s “cashless economy” efforts have caused .”disruption” and its impact on business is yet to be assessed.
Larsen & Toubro
Indian MNC that is into technology, engineering, construction, manufacturing and financial services.
5. Kyocera introduces new washable smartphone in Japan
Japan-based Kyocera has introduced a new “rafre”
Japan-based Kyocera has introduced a new “rafre” washable smartphone that features resistance to hot water and a touchscreen that be can be used even when the user’s hands are wet or when wearing gloves.
Launch date for this phone.