News digest: GST e-way Bill, Rahul Gandhi's elevation, and more

GST Council firm on e-way Bill despite traders' concern

An electronic system to track movement of products under the goods and services tax (GST) system will be put in place across the country (inter-city as well as intra-city) by June 1, 2018. Read More...

More traders paying taxes on GSTN: Sushil Kumar Modi

The proportion of tax-paying traders has increased to 70 per cent of those registered on the Goods and Services Tax Network (GSTN) as the technology backbone built by Infosys has begun to stabilise and make it easier for them to file returns, said Bihar Finance Minister Sushil Kumar Modi on Saturday. Read More...

Rahul Gandhi takes charge of the grand old party

Rahul Gandhi on Saturday took charge as president of the Congress in the presence of the 132-year-old party’s brass and his family members. Read More...

UIDAI suspends Airtel, Airtel Payments Bank's e-KYC licence

In its strongest action yet, the UIDAI has temporarily barred Bharti Airtel and Airtel Payments Bank from conducting Aadhaar-based SIM verification of mobile customers using the eKYC process as well as e-KYC of payments bank clients. Read More...

US may stop spouses of H1B visa holders from working

The Trump administration is considering revoking an Obama-era rule that extends work authorisation to the spouses of H1B visa holders, a move that could affect thousands of Indian workers and their families. Read More...
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S&P, Dow dip as Irma approaches US; Disney also weighs

The Dow and the S&P were slightly lower in late morning trading on Thursday as investors kept a close watch on Hurricane Irma, which was barreling toward Florida.

Indexes were also weighed down by a 3.1 per cent fall in Walt Disney shares, after the company said its Marvel and Star Wars titles would go exclusively to its planned streaming service.

Irma plowed past the Dominican Republic on Thursday after devastating a string of Caribbean islands and killing at least 11 people as one of the most powerful Atlantic storms in a century took aim at Florida.

"As the hurricane moves, investors are looking for a better grip on the damage that can be done. There are far-reaching implications now that we have back-to-back ones," said Andre Bakhos, managing director of Janlyn Capital in Bernardsville, New Jersey.

Hurricane Harvey, which hit Texas and Louisiana more than a week ago, had claimed 60 lives and caused property damage estimated as high as $180 billion.

Worries about the impact of hurricanes and weak U.S. jobless claims data sent the benchmark 10-year Treasury yields to their lowest since Nov. 10.

What is on investors' minds is that yields continue to move lower. It gives you an indication that people are still a little bit nervous - about North Korea and what the future holds for the (Trump) administration as far as what it is going to accomplish," said Robert Pavlik, chief market strategist at Boston Private Wealth in New York.
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