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Tag: preparing

Finance Ministry preparing full Budget presentation in July

Finance Ministry preparing full Budget presentation in July

Finance
The Union Finance Ministry has started preparations for the presentation of the full Budget 2019-20 by a new government in July, even as the country is in the midst of the ongoing seven-phased general elections. The Ministry has sent out communications to various industry bodies and other stakeholders inviting their suggestions on direct and indirect taxes related to various sectors. Industry leaders said they expect changes in custom rates and direct taxes as the Goods and Services Tax (GST) has removed most indirect taxes from the purview of the Budget. "We expect a lot of changes on direct tax front. If the current government comes back they would bring changes as they have certain things in their mind from previous years. "In case a new government comes, they would unlikely go for any ...
Preparing for an approaching hurricane and other things you need to know about them

Preparing for an approaching hurricane and other things you need to know about them

Technology
Hurricane Lane barreled towards Hawaii on Wednesday, unleashing powerful winds at 155 miles per hour and prompting authorities to issue a warning and shut down all public schools. Though the Category-4 storm is expected to weaken as it moves closer, experts predict parts of the Big Island will be lashed by fierce gusts, waves as high as 25 feet, and rain. Here are some of your questions on hurricanes, answered by ABC News meteorologists Max Golembo, Samantha Wnek and Melissa Griffin. How are hurricanes formed? Hurricanes are formed by feeding off the warmth and moisture of the ocean. Air then rises and is replaced constantly by the surrounding air. Below all this rising air, low pressure develops. How long does a Hurricane usually last? If you are in the hurricane, the hurricane c...
The World Bank is preparing for the world's first blockchain bond

The World Bank is preparing for the world's first blockchain bond

Finance
The World Bank has mandated Commonwealth Bank of Australia to arrange the world's first blockchain bond. The Kangaroo bond, referring to foreign bonds issued in Australia in the local currency, has been named bond-i, an acronym standing for Blockchain Offered New Debt Instrument. (It's also a reference to Bondi Beach, an iconic spot in Sydney.) According to the institution, the bond will be the first in the world to be created, allocated, transferred and managed with blockchain technology. That tech, which underpins cryptocurrencies like bitcoin, refers to the distributed ledger technology that securely records all transactio...
Bharat Financial Inclusion preparing pitch for diversification ahead of merger

Bharat Financial Inclusion preparing pitch for diversification ahead of merger

Finance
KOLKATA: Bharat Financial Inclusion, which will soon be merged with IndusInd Bank, is in the process of diversifying into two-wheeler loans and home loans which may help it de-risk the asset portfolio from a monoline micro loan business. Managing Director MR Rao said the new loan products will be offered to existing customers to grow in size but microfinance will remain its core focus and will be crucial to get new customers. “It (diversification) is not a defence mechanism. It has always been a part of a larger plan. We are getting ready to offer more products to our existing customers who have the ability to repay,” Rao said in an exclusive interview. Post-merger, Bharat Financial will work as a business correspondent for the Hinduja group promoted IndusInd while its entire loan por
Granite, Obayashi preparing new Marine base on Guam

Granite, Obayashi preparing new Marine base on Guam

Business
Sept. 1 (UPI) -- A joint venture team of Granite Construction and Obayashi Corporation has won a $ 165 million military infrastructure contract for Guam.The award, announced by Granite this week, was issued by the Naval Facilities Engineering Command Pacific for the Finegayan Utilities and Site Improvements Phase I project in Finegayan, Guam.The project is for the preparation of a 400-acre site for future construction of operational, administrative and bachelor housing structures for a new Marine Corps base.The team will demolish existing structures on the site, relocate and add new utilities, roads and other infrastructure, including fencing, sidewalks and signage.Clearing the site of unexploded ordnance and munitions is also part of the contract.The new Marine base is located on the Nava...