Month: November 2020

Dow futures fall, but index heads toward best month in more than three decades

TipRanks

Billionaire Israel Englander Pours Money Into 2 “Strong Buy” Stocks

Following the wild ride that was 2020, where does the market go from here? Major strides have been made in the COVID-19 vaccine race, yet the near-term picture remains unclear, blurred by the virus’ resurgence and the stimulus stalemate on Capitol Hill.In times like these, the investing greats can serve as a source of inspiration, namely billionaire Israel “Izzy” Englander.Who exactly is Englander? The legend, who started trading stocks when he was in high school, began his career interning at investment firm Oppenheimer, later going on to purchase a

Indian-American Vivek Lall elected Board member of top US business councils; US-India-Japan business relations to deepen

The new global order means India, US and Japan will be working closely on several issues including free-trade, technology and strategic partnership.

US-Japan Business Council (USJBC), as well as the US India Business Council (USIBC), have recently announced the joining of US-based Indian-American, Dr Vivek Lall, on its Board of Directors. Considered by many in Washington DC as the industry architect of the US-India relationship role this century, he was unanimously voted onto the board of the USJBC.

Since the turn of the century, US India defence trade has touched $ 20 billion mark. The new global order means India,

India becoming ‘pharmacy of world’; foreign companies willing to tie-up with Indian pharma cos

Ambassadors of 100 countries are scheduled to arrive in Pune on December 4, to visit the Serum Institute of India, and Gennova Biopharma.

Prime Minister Narendra Modi today asked Indian pharma companies, involved in making coronavirus vaccines, to give suggestions and ideas regarding the regulatory processes and related matters. Recently, there has been a surge in interest from foreign companies towards partnering with India’s pharma companies. Ambassadors of 100 countries are scheduled to arrive in Pune on December 4, to visit the Serum Institute of India, and Gennova Biopharma, said the Prime Minister’s Office (PMO). While Sweden has already acknowledged

A Giant Fund Sold Alibaba, Apple, and Intel Stock. Here’s What It Bought.

South Korea’s sovereign-wealth fund made big changes in some of its biggest U.S.-traded stock investments.

Korea Investment Corp. cut investments in Alibaba Group Holding (ticker: BABA), Apple (AAPL), and Intel (INTC) stock in the third quarter. It also more than doubled its holdings of General Motors (GM) stock. KIC, as the fund is known, disclosed the stock trades, among others, in a form it filed with the Securities and Exchange Commission.

KIC…

GST returns deadline: Reminders to 25,000 defaulter taxpayers

According to the GST return filing schedule, the GSTR-3B returns were expected to be filed in a staggered manner by November 20, 22 and 24 for transactions made in October.

The government is mulling cancelling GST registration for 5.43 lakh taxpayers who have not filed monthly tax returns (GSTR-3B) for the last six months or more, sources in the revenue department said. Additionally, the department would ‘persuade’ 25,000 taxpayers, who have not filed returns for October that was due by November 24, to comply with tax return deadlines.

Sources said tax officers have been directed to follow up personally with

CAIT to PM Modi: E-commerce firms monopolising market by violating FDI policy; poor action hurting MSMEs

The Modi government had last year asked the e-commerce companies with FDI to maintain a report to confirm compliance.

Ease of Doing Business for MSMEs: Big e-commerce companies having deep pockets are leaving no stone unturned in monopolizing the e-commerce business and retail trade of India with their malpractices and violating FDI policy, traders’ body Confederation of All India Traders (CAIT) said in a letter to Prime Minister Narendra Modi on Sunday. CAIT, which has been campaigning against Amazon and Flipkart for years now alleging unethical business practices by them, said that the absence of concrete action against e-commerce companies

House to consider measure next week that could banish Chinese stocks from U.S. that don’t comply with audit rules

House members could vote as early as Wednesday to boot Chinese companies with shares on U.S. exchanges if they don’t adhere to audit-oversight rules. Companies such as Alibaba Group Holding Ltd.
BABA,
-0.44%

would be faced with making the transition to undergoing an annual audit reviewed by American regulators within three years or be kicked off the New York Stock Exchange or Nasdaq Stock Market. The bipartisan legislation, which requires a two-thirds majority for passage, unanimously passed the Senate in May. Chinese officials have criticized the bill, which is much harsher than a Securities and Exchange Commission proposal under consideration

Highest FDI inflows to India coming from Singapore and USA; software sector biggest beneficiary

Other top contributors include the Cayman Islands with inflows worth Rs 15,672 crore and Mauritius with Rs 15,019 crore.

So far this financial year, Singapore and The United States of America have been the biggest contributors towards FDI equity inflows to India. Data published by the Department for Promotion of Industry and Internal Trade (DIPP) shows that Singapore has invested Rs 62,084 crore into India between April and September 2020. This was followed by the USA with Rs 53,266 crore of inflows. In the fiscal second quarter alone, India has received $28 billion of FDI inflows, which included equity inflows,

Paytm to not charge any fee on wallet payments for merchants; move to benefit 1.70 crore users

Paytm has a user base of 17 million or 1.7 crore merchants.

In an effort to de-clutter the digital payments ecosystem and augment the use of online payments, Paytm has announced that merchants will now be allowed to receive unlimited payments through its Paytm Wallet at a 0% fee, along with UPI and Rupay Cards. “With this, we aim to benefit more than 17 million (1.7 crore) merchants who can enjoy a 0% fee on all their digital payments with direct settlement in their bank accounts,” paytm said in a blog on its website. Paytm is one of the largest

Zoom Reports Quarterly Earnings on Nov. 30

Zoom Video Communications is set to report October quarter results on Monday.

The company’s (ticker: ZM) videoconferencing service has become a work-from-home standout, with everyone from major businesses, schools, and families using the service to connect while stuck at home. That has been huge for Zoom, which saw its July quarter sales soar 355% year-over-year.

Zoom…