HYUNDAI, KIA ESTIMATES COMBINED Q1 NET PROFIT TO RISE

Highlights –

• Hyundai, KIA estimates combined Q1 net profit to rise.
• The two carmakers estimate solid earnings over robust sales of SUV and high-end models.
• Hyundai expects a net profit of US$1.18 billion in the first quarter.
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GLOBAL ASSET MANAGEMENT LEADER, BLACKROCK DABBLES IN BTC

Highlights:

•             Blackrock manages assets worth $9 trillion currently

•             The firm sees BTC becoming as precious as gold

GEORGE FLYOD CASE PRIMARY ACCUSED DEREK CHAUVIN AND WIFE ARE ALSO TAX EVADERS, CHARGED LIKEWISE

Highlights: 

• Derek and his wife have been defaulting on and filing false tax returns since 2016
• They have been charged on tax default cases now 

Derek Chauvin, the ex Minneapolis police officer became the name that stood for police brutalit...

INCOME TAX DEPARTMENT REVISES TAX DEADLINES AND PENALTIES

As per the latest extensions announced by the Income Tax (I-T) Department in order to safeguard tax payers from the effect of COVID-19 lockdown and all other problems associated with it, all the due dates for filing tax returns, making tax-saving investments and Aadhaar-PAN linking have been revi...

CALIFORNIA TO PROVIDE $365 PER CHILD AS FOOD BENEFITS FOR LOW-INCOME FAMILIES

Highlights:

• The distribution of $365 will happen over two months
• People need to apply online for the same unless they already are enrolled CalFresh, or Medi-Cal or foster care programs

California school campuses provided free or heavily subsidized lu...

Singapore: Role Model in the Fight Against Income Inequality.

According to Singapore Department of Statistics [SingStat] the median household income has grown to $9,425 in 2019 and that the income inequality, according to Gini Ratio, is the lowest it has been in nearly 2 decades. The Gini Ratio stood at 0.452 in 2019 as opposed to 0.458 the year before. The...

Income Tax explores on UPL premises

A country’s success and its future majorly depend on the leaders of the country. If the political leader of a country is sincere and loyal towards the best of interest of the country then the nation must strive to the highest limits of the sky. But on the contrary, if the country has not ve...

India might fall under middle - income trap: Experts

Experts are brainstorming on the possibility that India might fall under the trap of a middle-income trap. The term which refers to a sustained economic slowdown following a period of strong growth was coined by World Bank economists Homi Kharas and Indermit Gill in 2006.

Tax rationalization

New Delhi: On Monday, the telecom sector sought a number of measures, including lower taxes and lower interest rate bank funding, stating that a strategic intervention of the Center was necessary to revive the stressed sector in line with the 2018 National Digital Communication Policy. The Teleco...

Income tax cuts, slab rejigs on table for budget 2020

In an attempt to revive growth and boost consumption, the government is examining proposals ahead of the budget - new slabs for those earning higher incomes, a flat tax rate without exemptions and cuts in personal income tax in line with those in corporate tax.

Before a decision is take...

The insurance operator of Singapore fined because of undeclaration of commission salary

An insurance operator who didn't pronounce commission pay of almost S$2 million and didn't represent products and ventures charge (GST) of about S$320,000, has been fined more than S$660,000.

Bite Wai Ling, 56, was requested to pay an aggregate of S$663,008 in fines and punishme...

Brazil and Chile intervened this week to defend their currencies

Two Latin American central banks intervened this week to defend their currencies, which had sunk to record lows against the dollar as a continent-wide spread of economic instability and social unrest.

On Thursday, the Chilean central bank said it would sell as much as $20 billion in mon...

India's booming stock market is likely to be slowed by 2020

The BSE Sensex index was projected to increase another 6.7 per cent to 43,645 points from Monday's closing of 40,889 points by the end of next year. Over the past two months, it has achieved over 13 per cent and set record highs continuously after several measures were declared by the Indian ...

Policies being reformed

The Indian insurance scene has been seeing mixed signals as the general insurances rise but life insurance is seeing a decline in popularity as well as sales and premium. The consumers are not buying insurance so as to avoid high premiums that the companies levy and not give the returns when requ...