Author: Ansh Singh

New Delhi: The Indian government has sent a major tax evasion notice to Volkswagen, accusing the company of underpaying import duties by around ₹11,842 crore, which translates to roughly $1.4 billion. The problem is that the German automobile company avoided higher taxes on car parts for its brands Audi, Skoda, and Volkswagen. What’s the Allegation? In SKODA Auto Volkswagen India the Indian arm of Germany’s Automobile giant VW allegedly imported near complete autos almost in knocked down completely with CKD units to add to this, taxes is levied at an at a much higher range in the form of 30-35%.However,…

New Delhi: Meta, the company behind Facebook, Instagram, and WhatsApp, is reportedly gearing up to spend over $10 billion on a massive subsea fiber-optic cable project. Stretching more than 40,000 kilometers across the globe, this ambitious initiative aims to boost Meta’s ability to handle the growing number of users and ensure smooth, high-quality services across its platforms. What makes this project unique is that Meta will fully own and operate the cable, marking a big step in its infrastructure plans. The cable route proposed connects the U.S. East Coast to India, through South Africa, and returns to the U.S. West…

New Delhi: Shares of Adani Green Energy Ltd (AGEL) and Adani Energy Solutions Ltd (previously Adani Transmission Ltd) have seen a significant surge, with AGEL soaring by nearly 39% over three trading sessions. On Friday, AGEL’s stock climbed 14.64% to reach ₹1,247.55, marking an overall rise of 38.71% within three days. Similarly, Adani Energy’s stock increased by 13.54% to ₹825.85, reflecting a 37.38% jump over the same period. This sharp growth follows renewed investor confidence after the Adani Group addressed bribery allegations originating from the US. The company clarified that no bribery charges had been filed against Gautam Adani or…

New Delhi: Shares of Adani Group companies have rebounded recently, with many of its firms reporting impressive gains. This bounce-back comes after earlier losses and is driven by positive market vibes and some reassuring updates about the company’s leadership. On Wednesday, Adani Group companies saw a strong rebound. Adani Total Gas surged almost 20%, while Adani Power rose by around 19.66%. Adani Enterprises and Adani Energy Solutions also saw some significant gains of 11.56% and 10%, respectively. Overall, the group’s market value saw an increase of more than ₹1.24 lakh crore, signaling a strong recovery. The broader market also did…

New Delhi: Samsung is rumored to be preparing the Galaxy S25 series, which are set to include the model, the S25+, and the S25 Ultra. Recent sightings of such models on India’s certification site, BIS, also point to an imminent launch in the near future, seeing the Galaxy S25 featured under the model number SM-931B/DS. This is a development from last year’s Galaxy S23, which had the model number SM-921B/DS. The Galaxy S25 is going to be the most compact model in the series and therefore the entry-level variant. The Galaxy S25 series is said to be launched at Samsung’s…

New Delhi: The renowned lawyer and former Attorney General of India, Mukul Rohatgi, has agreed to represent Gautam Adani and his nephew, Sagar Adani, in response to the recent bribery allegations tied to the US Department of Justice (DOJ). These claims state that the Adani Group paid around ₹2,029 crore (about USD 265 million) in bribes to Indian officials for solar energy contracts. However, both lawyers argue that the charges lack clear evidence and details. During a press briefing, Rohatgi emphasized that neither Gautam nor Sagar Adani is named in the critical parts of the indictment, particularly those involving violations…

New Delhi: The Adani Group’s involvement in a big port project in Sri Lanka has been getting a lot of attention lately, especially because of some bribery allegations. The U.S. International Development Finance Corporation (DFC) had promised a loan of $553 million for the Colombo West International Terminal, a deep-water port project. However, the DFC hasn’t released any money yet because they’re still doing checks to make sure everything meets their rules. The DFC confirmed that the project is still not finalized, and they haven’t signed any loan agreement yet. They’re taking their time to make sure the project meets…

New Delhi: The question of whether OYO might follow the same troubled path as BYJU’S, rapid growth followed by serious financial trouble, has been on a lot of minds in 2024. Both companies have had dramatic ups and downs, but their recent stories couldn’t be more different. OYO: A Comeback in the Making In FY24, OYO made a big turnaround, reporting a profit of ₹229.5 crore after losing ₹1,286 crore the year before. How? Mostly by cutting costs, like reducing employee expenses by 52%. While that’s great news, their revenue dropped slightly by 1.3%, showing they still need to figure…

New Delhi: Billionaire investor Warren Buffett has once again been on the headlines after donating more than $1.1 billion in Berkshire Hathaway stock to different family charities and foundations on November 25. This action is part of his annual Thanksgiving tradition of giving, which he has been doing for decades. In addition to that, Buffett also revealed what is happening with his succession plan for his massive fortune, pegged at $147.4 billion. Earlier, Buffett had stated that all this wealth would be split up among his three children about ten years after his death. Still, he recently disclosed that there…

New Delhi: Gukesh’s career has been phenomenal. He now becomes the youngest player to contest for the World Chess Championship, and the youngest to ever win the Candidates Tournament he just won. Thus, he is the first Indian challenger for the world title in a decade since Viswanathan Anand last played in 2014. The championship is spread over three weeks, comprising 14 games and four rest days. Starting from November 25, matches will be held daily at 2:30 PM IST. Tie-breakers may require extending the tournament to December 13. Gukesh is seen as the favorite, thanks to his incredible recent…