Business & Economy

Don Cunningham column: New generations drive new economies

What a difference a generation can make. I spent the early part of my life in a row house in west Bethlehem, across the street from my great-grandmother, a block away from my grandparents. But, it was the early 1970s and moving up was moving out. I still remember my parents’ excitement when they built a house in Bethlehem Township ...

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Waive certain taxes for companies in insolvency proceeding: Assocham

Industry body Assocham today sought from the government slew of tax relief for companies against whom insolvency proceedings have been initiated. “Where any outstanding liability, inclusive of any accrued interest is waived in accordance with the approved Resolution Plan, such waiver/write-back should not be subject to tax under both normal and Minimum Alternate Tax (MAT) provisions of the Income-tax Act, ...

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As India Inc. struggles to cut down debt, the economy suffers

MUMBAI: India’s cash crunch and confusion over the introduction of a national sales tax were initially blamed for pulling economic growth down to its weakest pace in more than three years. But that is masking a more debilitating factor affecting the economy — corporate debt.Thomson Reuters data, based on the latest annual earnings reports, shows India’s corporate debt rose to ...

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As India Inc struggles to cut down debt, the economy suffers

By: Reuters | Mumbai | Published:September 13, 2017 9:40 am Gross capital formation, a gauge of private investment, fell to less than 30 per cent of GDP in the June quarter, from 31 per cent a year earlier and 38 per cent a decade ago. India’s cash crunch and confusion over the introduction of a national sales tax were initially ...

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Irish CEO positivity dips as Brexit concerns deepen

Up to 58 per cent of Irish chief executives have a positive outlook on the economy but concerns around Brexit and high personal tax burdens has seen that number fall in compason to last year. A survey from professional services firm PwC shows that although a majority of Irish chief executives view the economy in a favourable manner, that has ...

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U.S. middle-class incomes reached highest-ever level in 2016, Census Bureau says

The incomes of middle-class Americans rose last year to the highest level ever recorded by the Census Bureau, as poverty declined and the scars of the past decade’s Great Recession seemed to finally fade. Median household income rose to $59,039 in 2016, a 3.2 percent increase from the previous year and the second consecutive year of healthy gains, the Census Bureau ...

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Hurricanes will buffet U.S. economy for months to come

The hurricanes that have devastated Florida and Texas have also left some serious economic damage in their wake, but economists say the impact will only be temporary – setting the stage for what could be an impressive bounce-back later in the year. Although economists acknowledge that it’s still early to assess the full economic impact of Hurricane Irma, which Tuesday ...

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Asean-US trade, investment must continue: Lim Hng Kiang, Economy News & Top Stories

The show must go on for American trade and investment in Asean, even with the United States pulling out of the Trans-Pacific Partnership (TPP) agreement earlier this year. This point was made by Minister for Trade and Industry (Trade) Lim Hng Kiang during a session with members of the American business community at the Four Seasons Singapore hotel yesterday. Mr ...

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Trump officials temper hope for 15% corporate tax rate

White House and members of Congress are “pretty close to finalizing” a bill, senior official says WASHINGTON: Two top Trump administration officials said it may not be possible for President Donald Trump to deliver on his promise to cut corporate tax rates to 15 per cent. In separate appearances Tuesday, Treasury Secretary Steven Mnuchin and Marc Short, Trump’s legislative affairs ...

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