Leaves our global report today as a modi administrations finance minister announces an 8 percent cut in the base Corporate Tax rate the centex stock markets surge and closed up by more than 5 percent after minister some around the im now 20000000000. 00 policy package indias base Corporate Tax rate was cut 30 percent to 22. 00 companies that do not seek Tax Exemptions will qualify for that base rate while those who do will pay a base rate of 25 percent down from the previous 35 Percent Companies that start out between october of this year and march of 2023 will be offered an even lower base rate of 15 percent and while reaction was positive the sudden and dramatic move by the indian policymakers suggest that they saw a weakening in Economic Indicators that call for such a bold action as indian growth reached its 6 year low tax cuts added to a list of stimulus actions for 29000. 00 that already includes 4 Interest Rate cuts by the reserve bank of india. Meanwhile Prime Minister and the
Many many markets in a decade but it falls short. , saudier the attack arabia attempt to move beyond the worst oil shortage of bloomberghe ceo tells will be back online soon. Ofas i said, by the end september, we will be a capacity. Manus it is daybreak europe. We had an irruption in overnight funding. We touched on it yesterday, nejra. Up she went, double bang. Back inpean market came and quelled the market. Was it all to do in paying taxes are paying the auction, or is there a tightness in the dollar market that we are underestimating . But is the debate. Nejra absolutely. This is crazy, was one quote from one of the traders on wall street. It also raises questions about the fed meeting today. The timing couldnt be worse. They are likely to be asked questions about it in the News Conference. On fxs the interest reserves and whether we will see some Balance Sheet expansion to do with this, because we also saw the fed fund rate being pushed toward the higherend. Manus yes, one analyst
Move by the indian policymakers suggest that they saw a weakening in Economic Indicators that call for such a bold action as indian growth reached at 6 year low tax cuts added to a list of stimulus actions for 21000. 00 that already includes 4 Interest Rate cuts by the reserve bank of india. Meanwhile Prime Minister Narendra Modi of india is headed to the United States for a weeklong visit that will include an appearance with u. S. President donald trump mr modi will address more than 50000. 00 Indian Americans at an event in our in our g. Studio in Houston Texas the events named modi will also be attended by President Trump as a gesture to cement the relationship between the 2 countries during the trip to the u. S. The 2 World Leaders hope to ease trade tensions between their large economies earlier this year the u. S. Had removed certain trade privileges afforded to india saying the country had not properly opened their markets to u. S. Goods the u. S. Hopes india will be. In electro
Cut their visit short r t correspondent sam on thursday ocus standing by to delve into the details of the choppy trade waters. To saudi aramco as i. P. O. Has been in question following attacks on the oil fields in the middle east monarchy rule of u. S. What holdings is on hand to drill into oil prices in the future of the would be record setting i. P. O. Were back to full strength and ready to bring you all d the Global Business news news you need to end the week lets go. Major tax cuts for the Indian Corporations leaves our global report today as a modi administrations finance minister announces an 8 percent cut in the base Corporate Tax rate the centex stock markets surge and close by more than 5 percent after minister some around the bend are now that 20000000000. 00 policy package indias base Corporate Tax rate was cut 30 percent to 22. 00 companies that do not seek Tax Exemptions will qualify for that base rate while those who do well pay a base rate of 25 percent down to. The pr
Court today trying to get his Sexual Assault conviction overturned. The comedian is serving a three to 10 year prison term in pennsylvania. Cosby claims a 2004 encounter with a young woman at his home was conventual consensual. Global news 24 hours a day, onair, and tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. It is 1 00 in new york, 6 00 in london, and 1 00 a. M. In hong kong. Im vonnie quinn. Welcome to bloomberg markets. From bloomberg World Headquarters in new york, here are the top stories on the bloomberg and around the world we are following. Argentinas president Mauricio Macri losing a primary vote by a landslide with the october election looming. Markets are taking notice. Default risks are soaring. Northern argentina, u. S. Stocks are dropping on thin trading. At and executive spent tens of thousands of dollars on a new name. All that in the next 30 minutes. Abigail doolittle, we are halfway