China has announced more measures to shore up increasingly shaky markets. Major shareholders are now banned from selling stakes in listed companies for six months. Bloomberg explains why the Chinese dragon has been seeing the red

China has announced more measures to shore up increasingly shaky markets. Major shareholders are now banned from selling stakes in listed companies for six months. It's aimed at halting what the regulator described as an "unreasonable plunge" in prices. Bloomberg's been charting the highs and the lows of the index and the effects of policy measures introduced by the government.

China's market meltdown in 75 secs

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State-owned Indian Oil Corporation (IOC) has begun a probe into allegations of a US speciality chemicals firm bribing its officials 15 years back to obtain contracts to supply catalysts, according to a company's regulatory filing.
Albemarle Corporation, a global speciality chemicals supplier that develops and sells catalysts used in the operation of oil refineries, allegedly "paid approximately USD 1.14 million in commission to India intermediary company relating to Indian Oil Corporation business and obtained approximately USD 11.14 million in profits on that business between approximately 2009 and 2011," according to a US SEC order dated September 28, 2023.
Albemarle was caught for bribery by the US authorities in 2017 and then settled the case in September 2023 by paying a hefty fine of more than USD 198 million to avoid prosecution.
In a filing, IOC said it is "neither party to nor is there any allegation against the company in relation to the proceedings" in the US SEC.
"Howev

Between 2009 and 2017, Albemarle also paid Indian agent an excessive commission to obtain catalyst orders from Indian private customers

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The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance premiums, but a decision on big-ticket rate rationalisation, including a higher tax on sin goods, may be deferred.
The GoM on GST rate rationalisation had proposed rate rejigs in 148 items in its recommendations, but sources said that consensus is needed to be built on some of the tax changes that the panel has suggested and some more time may be needed for that.
The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, is also likely to deliberate on bringing Aviation Turbine Fuel (ATF), a major component for airline industry's operation cost, in the Goods and Services Tax (GST) fold.
The GST rate is also proposed to be cut on food delivery platforms like Swiggy and Zomato, to 5 per cent (without input tax credit), from the current 18 per cent (with ITC).
However, the Fitment Committee (comprising tax

Also, the Group of Ministers (GoM) on GST compensation cess is likely to get a six month extension till June, 2025, to submit its report. The compensation cess regime comes to an end in March, 2026

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China's market meltdown in 75 secs

China has announced more measures to shore up increasingly shaky markets. Major shareholders are now banned from selling stakes in listed companies for six months. Bloomberg explains why the Chinese dragon has been seeing the red

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