Business News Highlights: Odisha to emerge as Tata Steel's largest investment destination post Kalinganagar expansion
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5 mins read | Updated on September 16, 2024, 18:42 IST
SUMMARY
Stay tuned for live updates on the latest business news, trends, and breaking developments on September 16, 2024.
Odisha to emerge as Tata Steel's largest investment destination post Kalinganagar expansion
Tata Steel on Monday said Odisha would emerge as the company’s single-largest investment destination after the phase-II expansion of its Kalinganagar plant from 3 million tonnes per annum to 8 mtpa.
The steel major has invested ₹27,000 in phase-II of the Kalinganagar plant expansion, and the company is on the verge of commissioning its expanded capacity at the unit, it said in a release. Also read.September 16, 2024, 18:42 PM
India well-poised to benefit from new jobs emerging with AI: Meta India head
India is well-poised to take advantage of new jobs that emerge from advent of Artificial Intelligence (AI), according to Meta India Vice President Sandhya Devanathan.
In an interview to PTI, Devanathan weighed in on raging debate around AI and its impact on jobs, saying she is of the firm belief that AI would now lead to new opportunities for India.
"I think that India is potentially well-poised to take advantage of new jobs that could come up with AI," she said. Read more.September 16, 2024, 17:34 PM
DGGI suggests info sharing with fgn govts, blocking websites to curb GST evasion in OIDAR services
GST investigation arm DGGI has suggested reciprocal arrangements with foreign governments for information sharing and enforcement measures as well as blocking of websites to prevent tax evasion in OIDAR services like e-gaming, online education and advertisement.
The move has been necessitated as it has come to DGGI's notice that there are entities, including online casinos that are based out of tax havens and also those which operate through offshore VPNs and cloud-based platforms. These entities are non-cooperative and appear to intentionally avoid tax compliance, and hence an information exchange with global law enforcement agencies would help crack down on any evasion. Read more.September 16, 2024, 16:43 PM
NCLT recalls order on Zee-Sony merger, allows withdrawal of scheme
The National Company Law Tribunal (NCLT) has allowed withdrawal of its order approving the merger of Zee Entertainment and Sony Pictures Networks India and recalled its earlier order passed in this regard.
The Mumbai bench of the NCLT had last week recalled its order passed on August 10, 2023, in which it had approved the merger of Zee Entertainment with Sony Pictures Networks India. Read more.September 16, 2024, 15:55 PM
SEBI withdraws statement on unprofessional work culture; commits to resolve concerns internally
Seeking to defuse tensions with employees protesting against alleged "unprofessional work culture," Sebi on Monday retracted its earlier statement blaming "external elements" for the unrest and committed to address the concerns 'amicably through internal channels'. Read more.September 16, 2024, 16:57 PM
