 "Top headlines: Meta layoffs, angel tax exemption, new Parliament & more")
From US to Australia, investors from 21 nations get angel tax exemption
Investment from countries such as Mauritius, Singapore, and the Netherlands in unlisted Indian start-ups will attract angel tax.
The government has notified the list of “specified jurisdictions” featuring 21 nations, including the US, the UK, Australia, and Germany, which will be eligible for immunity from the new tax. However, countries such as Singapore, Ireland, the Netherlands, and Mauritius, from where most of the investment comes to India, do not find mention in this list. Read more...
Third round of layoffs: Meta's senior India executives get pink slips
With the third and final round of layoffs implemented by Facebook’s parent company Meta Platforms, Inc. in process globally, India, too, has seen its impact, with some senior executives being asked to leave.
Some of the executives to have been impacted are Avinash Pant, India’s director of marketing; Saket Jha Sourabh, director and head of media partnerships; and Amrita Mukherjee, one of the directors on the legal team. Read more...
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RBI deputy governor's post: Five bankers to face interview on June 1
Five bankers will appear for an interview for the Reserve Bank of India (RBI) deputy governor’s post on June 1, sources said.
Three of them are current MDs & CEOs, one is a managing director of State Bank of India, and another — Srinivasan Varadarajan — is the non-executive chairman of Union Bank of India. Varadarajan, who was a deputy managing director in private sector lender Axis Bank, was joined Union Bank on November 7, 2022. Read more...
Indian markets, economy more balanced now than a year ago: Chris Wood
CHRISTOPHER WOOD, global head of equity strategy at Jefferies has held on to his exposure to Adani group stocks in his India long-only equity portfolio despite a scathing report by Hindenburg Research earlier this year. In a freewheeling conversation with Puneet Wadhwa on the sidelines of the Jefferies Annual India Forum in New Delhi, Wood shared his views on his strategy for the Indian markets in the backdrop of developments back home and globally. Read edited excerpts...
Around 25 parties expected to join new Parliament building inauguration
As many as 25 parties are expected to attend the inauguration of the new Parliament building by Prime Minister Narendra Modi on Sunday even as 20 Opposition parties have decided to boycott the event. Apart from the 18 members of the ruling National Democratic Alliance (NDA), including the BJP, seven non-NDA parties will attend the ceremony, going by their stated position on the issue which has snowballed into another political flashpoint between the ruling and opposition camps. Read more...