Traders fined Rs 1.14 lakh for profiteering in Ganderbal

GANDERBAL: Adminstration has booked 285 erring traders for profiteering and violation of the essential commodities Act in the district and fined Rs 1.14 from the violators, an official spokesperson said. The Legal Metrology Department (LMD), Ganderbal conducted the market checking of different markets of district Ganderbal and booked 285 cases against the erring traders for […]

GoI rejects proposal to club allowances with basic pay

NEW DELHI: With the government of India rejecting a proposal to club allowances with basic pay for provident fund deductions, the EPFO will soon issue a notification in this regard, a setback for over 5 crore subscribers. “EPFO has got a letter from the Labour Ministry asking it not to go ahead with clubbing of […]

Islamic finance assets reach almost $50b in 2013

KUWAIT: According to a newly released report “Participation Finance in Turkey 2014” by Kuwait Finance House Research Limited (KFHR), Turkey is the seventh largest domicile for Islamic finance assets with almost USD50bln in participation finance assets as at end-2013. Turkey is rapidly emerging as a major player in the global economic landscape and has introduced […]

Sensex slips from lifetime peak; FIIs remain bullish

MUMBAI: Market scaled fresh lifetime highs, but surrendered most of the gains on profit-booking towards the end of the week on IMF report about slowdown in Indian economy due to”international factors”. Both the bellwether indices, sensex and Nifty, failed to maintain their all-time highs despite sustained capital inflows. The sensex resumed up at 22,423.14 and […]

Economy, major issue ahead of election in India: Gallup poll

WASHINGTON: With a record 35% Indians saying the national economy was getting worse, India’s sputtering economy will undoubtedly be a major issue in the country’s month-long election starting Monday, according to a US poll. Suggesting that “Indians’ economic optimism has all but evaporated in 2013”, leading US pollster Gallup said Friday “Indians’ growing pessimism about […]

PIA sacks 350 employees over fake degrees

LAHORE: Pakistan’s national flag carrier has sacked 350 employees, including pilots and air hostesses, for having faked their educational qualifications. “We have terminated 350 employees after their educational degrees turned out to be fake. Five pilots, a good number of air hostesses and some engineers are included in the list of those sacked during the […]

AirAsia inflight magazine withdrawn, apologises for article

KULA LUMPUR: Malaysia’s popular budget airline AirAsia today withdrew its latest inflight magazine, expressing “deep regret” for an article boasting that its well-trained pilots would never lose a plane. The comments, that came following the March 8 crisis when a Beijing-bound Malaysian Airlines plane mysteriously disappeared after taking-off from here with 239 people on board, […]

Govt grants ‘unauthorised’ tax exemption to industrial units: CAG

Govt grants ‘unauthorised’ tax exemption to industrial units: CAG

SRINAGAR: Jammu and Kashmir government has given “unauthorised” tax exemption of Rs 6.51 crore “unnecessarily” to industrial units, despite these unit holders have not filed returns of their turn over, audit reports say. The Auditor and Comptroller General (CAG) of India in its annual findings has revealed that the assessing authorities of J&K Commercial Taxes […]

Desist from black marketing of LPG: CAPD Deptt to dealers

SRINAGAR: Warning LPG and kerosene dealers to desist from black marketing, Secretary, Consumer Affairs and Public Distribution, Baseer Ahmad Khan Friday asked them to ensure smooth supplies of the essentials to the consumers. According to an official handout, Khan was addressing a meeting of senior officers of the department to streamline the home delivery system […]

Envoy launches week-long Made-in-Pak expo

MUMBAI: Pakistan High Commissioner to India Abdul Basit has called for breaking of psychological barriers that are preventing bilateral trade between the two neighbours. He said this would serve to enhance mutual understanding and eventually help the two nations to resolve their disputes and build a strong edifice of peace and stability. Inaugurating a week-long […]