Following are the top business stories of Friday, August 23. Nirmala Sitharaman's much-awaited announcement on FPI surcharge is finally here along with some good news for Auto sector that was witnessing its worst crisis in decades. IndiaTvNews.com brings to you the business news round-up of the day.
Enhanced surcharge on FPIs removed: Sitharaman
Giving in to the demands of overseas investors, Finance Minister Nirmala Sitharaman on Friday announced rollback of enhanced surcharge on foreign portfolio investors levied in the Budget.
Govt to upfront infuse Rs 70,000-cr capital into public sector banks
Finance Minister Nirmala Sitharaman on Friday announced upfront capital infusion of Rs 70,000 crore into public sector banks, a move aimed at boosting lending and improving liquidity situation.
India's GDP expansion much higher than global growth: FM
New Delhi: Seeking to dispel doubts over the economy and government's growth agenda, Finance Minister Nirmala Sitharaman on Friday said the India's GDP continues to grow at a faster pace than the global economy and any other major economy.
Amazon signs deal to buy stake in Future Retail
New Delhi: American e-commerce giant Amazon has signed a deal that would give it the option to take a significant stake in Future Retail Ltd, gaining access to physical stores across the world's fastest-growing retail market.
12.19 lakh new jobs created in June: ESIC payroll data
New Delhi: Around 12.19 lakh jobs were created in June, lower than 12.88 lakh added in the previous month, according to the latest payroll data from the Employees' State Insurance Corporation (ESIC).
Markets snap 3-day losing streak on stimulus hopes; log weekly losses
Snapping its three-session falling streak, market benchmark BSE Sensex rebounded 228 points on Friday on expectations of FPI tax rollback and some measures by the government to boost growth.
Rupee rebounds 15 paise to 71.66 against USD
The rupee spurted 15 paise to close at 71.66 against the US dollar on Friday on hopes that the government will roll back the FPI surcharge and unveil measures to boost growth.
Gold rises for fourth consecutive day, touches fresh high of Rs 38,995
Mumbai: Continuing its record-setting trend for the fourth consecutive day, gold prices rose Rs 25 on Friday to reach a record high of Rs 38,995 per 10 gram in the national capital amid a weaker rupee, according to the All India Sarafa Association.
IBC can't resolve power sector crisis, but ARCs can: Secy
Mumbai: Financially crippled power companies cannot be revived or resolved under the provisions of the existing bankruptcy laws, but asset reconstruction companies can better deal with them, a senior government official said Friday.
Watch Finance Minister Nirmala Sitharaman's full press conference