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Korea to reduce tax benefits for high income earners

Korea to reduce tax benefits for high income earners

The high income earners in South Korea might soon be deprived of certain tax benefits. The country is now looking to reduce tax benefits that were available for the high income earners, as well as large businesses until now. The move will be...
petrol

Oil companies to hike petrol prices by Rs. 1.5-2 per litre

Under the current market conditions, oil marketing companies are under extreme pressure due to the weakening of the Indian rupee. The companies are now looking to hike the prices of petrol by Rs. 1.5 to Rs. 2 per litre, which will take effect...
diesel

Prices of petrol and diesel hiked in India

Indian oil companies have announced a hike in prices of petrol and diesel by 75 paise and 50 paise per liter, respectively, from June 1, 2013. Indian Oil Corp had announced a hike in prices of petrol and diesel due to a sharp decline in the...
tobaco

Donations made by tobacco firms discouraged

The Chinese Association on Tobacco Control has suggested to the Ministry of Civil Affairs to ban donations made by the tobacco companies in the coming Charity Law. The data released by CATC said that the charitable donations have become the...
air India

Air India plane with locked cockpit makes emergency landing

During one of Air India’s domestic flights on May 13, 2013, passengers on board experienced a very tense moment when the cockpit door got locked. The door was jammed when the pilot was away from his seat because he needed to use the bathroom. Due...
visa

Visa Inc to venture into Chinese market

American multinational financial service Visa Inc. is preparing to participate in the yuan-denominated China business. The regulators are preparing to release rules facilitating foreign players to enter domestic market, a move that might happen...
china earthquake

Quake does little to affect Chinese economy

The south eastern part of China had once again been hit by a strong quake on April 20, 2012, but the economy of the country has not yet been majorly affected. China’s Sichuan province was hit by the 7.0 magnitude earthquake, which had struck Ya’an city. The...
petrol

Petrol prices slashed by Rs. 1 from April 15, 2013 midnight

The price of petrol in the Indian market has been cut by Rs. 1 per litre. The price cut was announced by Indian Oil Corporation on April 15, 2013 and the reduction will become effective by midnight on the same day. The last time the price of...
taxi fares

Beijing to raise taxi fares

News reports have claimed that the taxi fares in China are set to rise. The actual official rise in the fares has not been announced though. According to the latest reports, passenger will now have to pay 15 yuan for a trip within 3 kilometers...