A look at the headlines in this sector right now:
- GST to be rolled out as planned on July 1, announces Arun Jaitley, rates for hotels, lotteries fixed: The Centre also roped in veteran actor Amitabh Bachchan to promote the indirect tax regime.
- Sensex climbs up 255 points to close at record high, Nifty breaks 9,650-mark: Tata Steel, Adani Ports, and Hindalco gained the most on both indices.
- Google, YouTube to introduce new measures to tackle extremist content online: The tech giant said its engineers have developed technology to prevent such content from being re-uploaded.
- Indians have ‘relatively few’ deposits in Swiss banks, says bankers’ association: Switzerland had on Friday ratified automatic exchange of financial information with India and 40 other jurisdictions.
- Poor driver incentives reduced Ola and Uber fleets by 25% in March quarter, says report: From December 2016 to March this year, the fleet shrunk from around 5,00,000 vehicles to 3,80,000.
- I-T department orders coercive action against Cairn Energy Plc to recover Rs 10,247-crore tax: The oil company said it will continue with the arbitration proceedings against the retrospective tax demand.
- BMW plans to invest Rs 130 crore in India and launch a new version of the 5 Series: However, the company said it is hard to make green vehicles popular in the country as there is not enough government support or infrastructure.
- UK begins formal Brexit talks with EU, will focus on setting timetable for Britain’s exit: The talks will initially focus on Britain’s Brexit bill, the rights of three million EU nationals living in Britain, and the Ireland-North Ireland border.