The Budget Law introduces new caps on tax deductions for individuals earning over 75,000 euros, allowing deductions of up to 7,000 euros for singles and 11,900 euros for families with two children. Health care expenses remain excluded from these limits, while mortgage and renovation deductions from previous years are preserved. Existing ceilings will gradually reduce from 120,000 euros to zero at 240,000 euros.
TVS Motor reported a 23% year-on-year increase in net profit for Q2, reaching Rs 663 crore, up from Rs 537 crore a year earlier. Despite this growth, shares fell by 4% after the results missed some market expectations. Standalone revenue rose 13% to Rs 9,228 crore compared to Rs 8,145 crore in the same quarter last year.
Circle's global head of policy, Dante Disparte, anticipates that the U.K. will introduce stablecoin regulations within months, emphasizing the need for formal laws to harness the benefits of the technology. He noted that the U.K. risks falling behind the EU and Singapore in stablecoin legislation, while also highlighting the importance of innovation and job creation in the evolving financial landscape.
KR Choksey maintains a BUY rating on Rossari Biotech with a target price of Rs 1,034, reflecting a 31.4% upside from the current market price of Rs 787. Despite lower-than-expected Q2FY25 results due to challenges in the HPPC and TSC segments, the company showed year-on-year growth in revenue, gross profit, EBITDA, and PAT, driven by strong export performance. Adjustments to FY25E/FY26E EPS estimates have been made, but long-term growth potential remains positive with expected capacity additions in the specialty chemicals sector.
Swiss asset manager GAM has opened its second U.S. office in Miami to enhance its reach to international clients, particularly in North and Latin America. The office will be led by Alejandro Moreno, who has been with GAM since 2022, and will also feature Charissa Pal as Business Development Manager, bringing over 20 years of industry experience. This new location aims to strengthen GAM's collaboration with its New York office and other regional branches to cater to the growing demand from international customers.
Shriram Finance is set to report its Q2 results on October 25, with expectations of an 18% year-on-year growth in net interest income (NII) to Rs 5,430 crore and an 18.6% rise in profit to Rs 2,077 crore, driven by strong asset under management (AUM) growth and robust loan disbursements. Following this positive outlook, the company's shares surged 23% during the July-September period.
Starting in 2025, Italy will mandate credit card payments for various tax deductions to combat tax evasion. This initiative will expand traceable payment requirements to most deductible expenses, including business representation costs, and will enhance transparency through digital delivery notes and electronic receipts. Despite recent improvements, Italy continues to face significant challenges with tax evasion, particularly in VAT and income taxes.
Market experts Samir Arora and Saurabh Mukherjea criticized the hike in long-term capital gains tax, arguing it could deter foreign institutional investors and impede the democratization of domestic markets. Arora emphasized India's reliance on foreign capital for private equity and highlighted that post-tax returns in India do not match the pre-tax allure, suggesting that the capital gains tax is a significant factor in the country's lagging market performance.
VPBank is offering exclusive promotions for credit card holders, including up to 50% off at Michelin-starred restaurants and various discounts at duty-free stores across Asia. Customers can also enjoy cashback incentives when using contactless payment solutions at select retailers. The promotional programs run until December 31, 2024, enhancing the overall customer experience with attractive dining, shopping, and travel benefits.
11:38 23.10.2024
UBS has maintained a "Buy" rating for McDonald's, setting a price target of $345. Analyst Dennis Geiger noted uncertainty regarding the impact of recent E. coli cases on the fast-food chain's revenue, but expects McDonald's to respond proactively to the risks.
11:37 23.10.2024
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