Govt cuts import tariff value on gold & silver
New Delhi: Government on Friday slashed import tariff value on gold and silver to $354 per 10 grams and $470 per kg respectively, tracking weakness in global markets. For the last fortnight, the tariff value on imported gold was fixed at $373 per 10 grams and on silver it was $517 per kg. The import tariff value is the base price at which the customs duty is determined to prevent under-invoicing. It is normally revised on a fortnightly basis. The change in tariff value of these precious metals has been notified by the Central Board of Excise and Customs, said an official statement issued by the Finance Ministry.
Amway India bags Adam Smith Asia Award 2015
New Delhi: Amway India, country’s leading direct selling company and a wholly owned subsidiary of Amway Corporation, USA, has been awarded Two prestigious Adam Smith Asia Awards 2015 for ‘Best in Class Benchmarking’ & ‘Best Corporate and Social responsibility initiative’ for the year 2015.The Adam Smith Awards are recognized globally as the ultimate benchmark for achievement in corporate treasury. In 2015, more than 200 nominations were submitted across the Asia Pacific region with every major country and territory of the Asia-Pacific region represented.
Six South Korean cosmetic giants debut in India
New Delhi: Six leading South Korean companies on Friday made their debut in India with their array of high end cosmetic and wellness products, when they signed a Joint Venture agreement for marketing them first and eventually make them in India under the Make in India campaign.The JV was signed by the South Korean companies with the Indian firm RE (Rajshree Empires Pvt lts) through their Korean arm PlK International. A tripartite agreement was also signed by PlK with UP Government and RE for setting up a manufacturing facility in India. The UP Government has allocated land for the purpose to them.
Coal India Q2 net up 16% at Rs 2,544 cr
New Delhi: Coal India, the world’s biggest coal miner, on Friday posted a 16 per cent rise in consolidated net profit at Rs 2,543.80 crore for the quarter ended September 30 on the back of higher sales.The company’s net profit in the corresponding quarter of the previous
fiscal was Rs 2,192.38 crore, Coal India (CIl) said in a filing to BSE.