New bill for firms

New Delhi, Oct. 23: The government has introduced the Companies Bill 2008 in Parliament today that will replace a 52-year-old legislation, with new provisions that foster speedy mergers and acquisitions with lesser state control. The bill seeks to do away with over 600 provisions in the existing law and bring in a smaller list.

Airlines tax

New Delhi, Oct. 23: The finance ministry is likely to take “appropriate” steps for tax rationalisation to help the troubled aviation industry, which is facing a downturn because of a sharp fall in passenger traffic.

Sebi rule

Mumbai, Oct. 23: Market regulator Sebi has clarified that the provisions of clause 49 of the listing agreement with regard to independent directors will apply even to companies which are promoted by listed and unlisted entities.

SBI customer

Mumbai, Oct. 23: The State Bank of India (SBI) has asked its customers to immediately comply with the know-your-customer guidelines failing which their accounts will be freezed.

Goldman layoff

Washington, Oct. 23: Goldman Sachs plans to slash 10 per cent of its workforce of 32,500 employees, the Wall Street Journal said.