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Globally, Switzerland has suspended its MFN clause in the tax treaty with India, effective 2025.On the political front, Priyanka Gandhi Vadra made her maiden Lok Sabha address, critiquing the BJP on constitutional values. Hyderabad police arrested Telugu superstar Allu Arjun over a stampede incident and later granted him interim bail.
In international news, the toppling of Bashar al-Assad marks a pivotal moment in Syria’s future.
Stay updated on these and more developments in today’s edition of your evening newsletter.
Nifty In 2025: Morgan Stanley highlights the sectors it bets on and the ones to avoid
Indian equities have now been in a prolonged phase of the bull market, right with a lot of these participants in the street calling it an aging bull market. But Morgan Stanley is of the view that this aging bull market still has more legs to run ahead. What the note says is that the bull market has now overtaken the 2003 to 2008 period in terms of length, although the returns of this bull market is just a third of what the market had seen during the 2003 to 2008 period.
On the earnings front, although the quarters recently have been disappointing, but Morgan Stanley says that the earning cycle is midway, and the valuations, too, are not rich for our markets. Now, why can the bull market last longer? According to Morgan Stanley, they’re saying that the private investment cycle is picking up, and that can extend the earnings cycle, which will further make valuations attractive.
Sensex, Nifty rebound with modest gains amid IT boost, end week in green
The domestic markets closed on a positive note this week, with a sharp intra-day surge on Friday helping both the Sensex and Nifty indices record modest gains for the week. The Sensex rose 843 points, closing at 82,133, while the Nifty gained 220 points to settle at 24,768.
Both indices had been trading in the red earlier in the week but saw a recovery led by strong performances in IT stocks. The Nifty IT index surged nearly 7% over the past two weeks, boosting overall market sentiment.
Exclusive | KV Kamath on India’s economic evolution: Banking reforms to digital power
India’s journey of economic transformation, from the liberalisation of 1990 to the emergence of Digital India, is a testament to the resilience and adaptability of the nation. During a conversation with CNBC TV18 on the sidelines of the 30th Lalit Doshi memorial lecture, veteran banker KV Kamath reflected on the milestones that have propelled India’s growth and charted the course for the future.
Telugu star Allu Arjun arrested for woman’s death, gets interim bail later
Actor Allu Arjun was arrested by Hyderabad police on December 13 in connection with the death of a woman during a stampede at Sandhya Theatre on December 4. The incident occurred during the premiere of his film Pushpa 2: The Rule.
The incident occurred on December 4 when overwhelming crowds gathered at the theatre, leading to a stampede-like situation. The actor was detained from his residence amid tight security and taken to Chikkadpally police station.
A case was registered against Arjun, his security team, and the theatre management under sections 105 and 118(1) of Bharatiya Nyaya Sanhita (BNS) based on a complaint filed by the deceased woman’s family.
However, later in the evening, Telangana High Court granted interim bail for 4 weeks to Allu Arjun. Single-judge Justice Juvvadi Sridevi observed that Arjun cannot prima facie be held responsible for the incident since he had simply gone to the movie premiere after taking requisite permission.
Here are all the updates about it
Allu Arjun charged under sections 105, 118(1) of BNS: Here’s what they mean
The arrest of Telugu superstar Allu Arjun in connection with the death of a woman during the screening of his latest release Pushpa 2: The Rule has brought sections 105 and 118(1) of Bharatiya Nyay Sanhita (BNS) in the spotlight. Here’s was these charges mean
New funding mechanism for centrally sponsored schemes hits bank deposits
The banking sector in India has been grappling with a decline in stable deposits. Among the many reasons contributing to this trend, the evolving mechanism by which the central government funds states for centrally sponsored schemes is a relatively under-discussed factor.
Until 2022, the process involved creating scheme-specific bank accounts for each state. Both the central and state governments deposited their respective shares into these accounts. Once sufficient funds accumulated, banks released payments to beneficiaries as instructed by the authorities.
Bajaj Auto’s Chetak is the No. 1 player in EV two-wheelers market
Bajaj Auto has emerged as the new market leader in the electric two-wheeler space, overtaking Ola Electric. According to VAHAN, the government’s national vehicle registry, data for the first 12 days of December highlights a significant surge in sales and market share for Bajaj Auto’s Chetak.
Chetak’s market share has climbed by 570 basis points from November levels to reach 27.7%. In contrast, Ola Electric’s market share has plunged by 700 basis points to 18%. Another major player, TVS Electric, experienced a dip of 100 basis points, bringing its market share down from 23% in November to 22% in the 12 days of December. However, TVS Electric has still managed to surpass Ola Electric in market standings.
Zomato gets 57 page GST evasion order demanding ₹803 crore
Food delivery aggregator Zomato has received a GST demand notice from Central GST authorities in Maharashtra to the tune of over ₹803 crore plus an interest. CNBC-TV18 has accessed the 57-page demand notice, where the authorities have claimed that a non-payment of over ₹400 crore along with a penalty of over ₹400 crore and interest needs to be paid by Zomato to the tax authorities.
Tax department says that Zomato failed to include delivery charges in the GST returns filed by the company even as the company says that it is contesting the claims. CNBC-TV18 has reviewed the 57 page order by the Central GST authorities in Thane, Maharashtra which were issued to Zomato on 28 November 2024
Switzerland suspends most favoured nation clause in tax treaty with India
Switzerland has announced the suspension of the most favoured nation (MFN) clause under its Double Tax Avoidance Agreement (DTAA) with India, effective January 1, 2025. This move will allow income such as dividends and royalties to be taxed in the source state at rates specified in the DTAA.
The Swiss authorities cited India’s Supreme Court ruling from October 2023 as the trigger for this decision. The Court had clarified that the MFN clause in the DTAA does not automatically apply unless formally notified under the Income Tax Act, 1961.
Priyanka Gandhi Vadra makes maiden Lok Sabha address, criticises BJP on constitution and governance
Congress leader and newly elected MP from Kerala’s Wayanad, Priyanka Gandhi Vadra, delivered her maiden speech in the Lok Sabha on Friday, December 13, during a debate commemorating the 75th anniversary of the adoption of the Indian Constitution. In her inaugural address, Gandhi paid tribute to Babasaheb Ambedkar, emphasising his monumental role in shaping the Constitution and its enduring principles of justice, equality, and unity.
She also accused the BJP-led government of eroding constitutional values and neglecting pressing issues that threaten justice and national cohesion. Priyanka Gandhi claimed that Prime Minister Modi remained unmoved by incidents of violence in places like Sambhal and Manipur and suggested he had failed to understand that the Constitution is a protective shield of justice, not the rule book of the Sangh.
The Fall of Bashar al-Assad: A look at the rebel leader’s role and Syria’s future
Rebel fighters led by Abu Mohammad al-Jolani, leader of the Islamist militant group Hayat Tahrir al-Sham (HTS), stormed into Syria’s capital, Damascus early on December 8, toppling Syrian President Bashar al-Assad and ending decades of Baath Party rule. What happens next in the quagmire that is now Syria?
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