NEW DELHI: Three major online gaming industry bodies have written to the government, urging it to withdraw its proposed blanket ban on fantasy sports, online rummy, poker, and other real-money games. They warned the move would wipe out a legitimate sector that employs thousands and has attracted billions in investment. The letter, addressed to Home…
NEW DELHI, Aug 20 (Reuters) – India’s state-run refiners Indian Oil and Bharat Petroleum have bought Russian oil for September and October delivery, resuming purchases after discounts widened, two company officials aware of the matter said on Wednesday. The refiners had halted purchases in July due to narrower discounts and after India was criticised by…
The government has been stepping on the pedal on ethanol-blended petrol. Last month, it said it was on the verge of achieving a 20% blend of ethanol in petrol—a near four-fold increase since 2020 and in line with a target it had brought forward by five years. Along with its own announcements on the subject,…
At the heart of this is a former banker who spent nearly four decades at India’s largest lender State Bank of India’s (SBI) and rues the lack of liquidity in the bond market. Venkat Nageswar Chalasani, the chief executive of industry body Association of Mutual Funds in India, or Amfi, believes people need to be…
Armed with provisions for prison terms and stiff penalties for violators, the law is expected to deliver a body blow to India’s real-money gaming sector, dominated by companies such as Dream11, Gameskraft and Games24x7. The bill treats fantasy games and gambling alike and makes no difference between games of skill and chance, effectively criminalizing an…
According to company insiders and analysts, the move is largely driven by changing user habits towards higher data packs. But it’s also a push by telecom operators to boost average revenue per customer, or Arpu, a key telecom industry metric. The changes in the entry-level plans by the market leaders indicate the possibility of another…
Bollywood film music, long struggling to hold its place against independent artists and regional tracks, is staging a comeback. New soundtracks such as Saiyaara and Metro… In Dino are climbing music charts and driving box-office buzz, signalling that Hindi film songs may finally be regaining their lost sheen. Entertainment industry experts say there is a…
Last week, the Directorate General of Trade Remedies (DGTR) proposed a duty of $121.5 per ton of hot-rolled flat products of alloy or non-alloy steel from Vietnam. Once notified by the Centre, the duty will stay in effect for five years. Hot-rolled coil (HRC) flats are key inputs for welded pipes and tubes, automobiles, and…
New Delhi: Sales of electric trucks almost doubled in the first three weeks of August following the Central government’s ₹500 crore incentive scheme introduced in July and new private financing options for consumers. A total of 60 electric trucks in the medium and heavy goods carrier categories were registered as of 19 August, according to…
At the heart of the case is whether popular titles such as fantasy sports and online rummy should be treated as games of skill or as gambling. The verdict, expected later this year, will determine whether startups face nearly $20 billion (approximately ₹1.5 trillion) in retrospective tax claims from the Directorate General of GST Intelligence…