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Business

Mukesh Ambani’s bet on India’s middle-class pays off

MUMBAI: Billionaire Mukesh Ambani’s debt-fuelled bet on the rise of the Indian consumer is starting to pay off, with his retail and telecommunications businesses contributing an increasing share of revenue and profit to his US$87bil empire.

Auto

India’s Ola raises US$300mil from Hyundai Motor

BANGALORE: India’s Ola is raising US$300mil from Hyundai Motor Group, giving the ride-hailing startup more capital to compete for drivers and customers against Uber Technologies Inc just as the US rival prepares for an initial public offering.

Business

Asia’s richest man outlines plan to take on Amazon

BANGALORE: Reliance Industries Ltd will roll out its online shopping platform to 1.2 million retailers and store-owners in western India, sketching out an ambitious plan to take on Amazon.com Inc and Walmart Inc’s Flipkart on its home turf.

Business

Investing for the future

CONSIDER this scenario: A professional in her mid-30s with two children is considering to invest with the aim of achieving stable dividends and accumulate funds for the children’s education.

Taxation

Digital tax only on services, not on transactions

KUALA LUMPUR: The recently announced digital tax will only apply on services offered online that requires a payment to the company, not on transactions made, said tax advisory firm Axcelasia Taxand Sdn Bhd.

Business

Tax amnesty programme will improve tax collection, says Ernst & Young

KUALA LUMPUR: The government's special programme to encourage taxpayers to declare unreported income within a limited time period to enjoy low penalty rateswill encourage voluntary disclosures and improve tax collection in the short term, says Ernst & Young Tax Consultants Sdn Bhd.

Business

Imported online service tax to be in stages

PUTRAJAYA: The process of implementing new taxes on imported online services will be carried out in stages, says the Finance Ministry’s budget director Johan Mahmood Merican.

Business

A comprehensive and innovative budget

Comment - By Anthony Dass NOV 2, 2019 was a historic day for Malaysia.

Business

Budget 2019 economic highlights

* Federal Government’s debt and liabilities up to end June 2018 stood at RM1.065 trillionl, which is about RM350bil higher than the amount officially disclosed by the previous government.

Business

24-year-old Oyo founder raises US$1bil

BANGALORE: Oyo Hotels, an Indian startup for booking reliable rooms in the country’s chaotic lodging market, is raising US$1bil to fund expansion into China and other global regions.