Indian technology firms paid $22.5 billion taxes in US in FY 2011-15
- Indian technology industry paid $ 22.5 billion in taxes during the financial years 2011-15, besides investing $ 2 billion in FY 2011-13 in the US, Parliament was informed today.
- “The Indian tech industry invested more than $ 2 billion in USA during FY 2011-13, has paid $ 22.5 billion in taxes during FY 2011-15 and supported 4,11,000 jobs in FY2015 directly or indirectly,” Commerce Minister Nirmala Sitharaman said in a written reply to Lok Sabha.
- She quoted data from a report ‘Contributions of India’s Tech Industry to the US Economy’, published by the Indian IT Industry body Nasscom.
- Besides, the US government hiking of Visa fee is likely to adversely impact the Indian IT Industry.
Sepp Blatter and Michel Platini banned by FIFA for eight years
- An ethics tribunal of scandal-plagued FIFA today banned Sepp Blatter and Michel Platini for eight years saying they had abused their positions over a 2 million Swiss francs payment made to Platini.
- The sentence against the two most powerful men in football stunningly highlighted the troubles faced by the world’s most popular sport where billions of dollars have been invested in recent years.
- Blatter, 79, and Platini, 60, were “immediately” banned from all football activity. Blatter’s career is now almost certainly over while Platini’s hopes of taking over FIFA are all but finished.
- Blatter, FIFA’s president since 1998, was fined 50,000 Swiss francs ($50,000/46,300 euros). Platini, the head of UEFA, Europe’s governing body and a FIFA vice president, was fined 80,000 Swiss francs.
Claridges Hotel up for sale; Rs 1,500 crore expected
- The Claridges, one of the iconic hotels located in the posh Lutyens area of New Delhi is on the block and the sale is expected to fetch anywhere close to Rs 1,500 crore, three people close to the development said.
- At least two potential buyers have already approached either the sellers directly or through their intermediaries. The two buyers include a Mumbai based family, which doesn’t directly have any presence in the hospitality business and also a luxury hotel brand.
- “A Mumbai based prominent family was interested in buying the property and we could see some negotiations in the coming days,”
- A Chinese leasing firm has signed a major USD 12-billion deal with a Chinese-owned Swedish car company to produce 150,000 electric vehicles in five years, the company said today.
- National Modern Energy Holdings (NMEH), jointly invested and founded by Chinese and Swedish companies, said its Swedish investing party National Electric Vehicle Sweden (NEVS) will produce 150,000 electric vehicles for China’s Panda New Energy firm based on Saab 9-3 sedan-platform by the end of 2020.’
- In addition, the 78 billion yuan (USD 12 billion) deal also includes 100,000 electric vehicle products and services from companies associated to NEVS and its owner, state-run Xinhua news agency quoted the agreement as saying.
- Owned by Chinese investors, NEVS took over Swedish car manufacturer Saab’s assets and technologies after Saab’s bankruptcy in 2012.