Abolish LTCG, rationalise STCG, STT rates on equities: PHDCCI to Finance Ministry

Economic Times - Oct 29, 2026

PHDCCI has recommended abolishing Long Term Capital Gains tax and modifying short-term capital gains taxes. The chamber suggests increasing the holding period for long-term investments to attract genuine investors. It emphasizes that current tax structures discourage investment due to double taxation on equities. Foreign Portfolio Investors have withdrawn significant funds from Indian equities, impacting investment levels. Government analysis of these recommendations may lead to changes in tax policy and structure.

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Dean of valuation Aswath Damodaran pegs Anthropic's worth at $1.475 trillion ahead of mega IPO
Oct 29, 2026
Dean of valuation Aswath Damodaran pegs Anthropic's worth at $1.475 trillion ahead of mega IPO

Aswath Damodaran values Anthropic at $1.475 trillion ahead of its anticipated IPO, but warns that compute costs, slowing revenue growth, and competition could alter its outlook. His scenarios range from a negative $373 billion to $4.04 trillion in equity value.

China promotes General Zhang Shengmin to Politburo
Oct 29, 2026
China promotes General Zhang Shengmin to Politburo

Beijing has promoted General Zhang Shengmin, the key player in the recent anti-corruption fight that cut deep into the military’s top leadership, to its top decision-making body, the Politburo. More to follow...

Hegseth pitches new US-Asean defence framework, but doubts run deep
Oct 29, 2026
Hegseth pitches new US-Asean defence framework, but doubts run deep

What are Southeast Asian nations doing to help the United States tackle its challenges? A reporter with the American right-wing organisation Turning Point USA put the question bluntly to US President Donald Trump’s defence chief this week in the Philippines. As US Defence Secretary Pete Hegseth pitched closer naval ties and maritime security cooperation at a gathering of defence ministers from the Association of Southeast Asian Nations (Asean) and other regional powers, the question injected...

Global Market: Japanese investors extend foreign bond selling streak to six weeks
Oct 29, 2026
Global Market: Japanese investors extend foreign bond selling streak to six weeks

Japanese investors extended their selling streak in foreign long-term bonds to six weeks, although falling US Treasury yields slowed outflows. Meanwhile, they increased short-term bill purchases and foreign stock investments, while overseas investors returned to Japanese equities.

85 homebuyers purchase flats in Ghaziabad society, two towers illegally constructed on defence land face demolition, Allahabad HC orders builder to refund residents with 10% interest
Oct 29, 2026
85 homebuyers purchase flats in Ghaziabad society, two towers illegally constructed on defence land face demolition, Allahabad HC orders builder to refund residents with 10% interest

Allahabad High Court has ordered the demolition of two illegal 10-storey towers at Ghaziabad's Gulmohar Greens and extra floors in four other towers. It directed an FIR against Friends Land Developers, imposed a Rs 25 lakh penalty and ordered refunds to 85 ground-floor residents for common areas sold illegally, with 10% interest.

BLS Polymers IPO sees strong demand, SFC Environmental Tech nears full subscription on closing day
Oct 29, 2026
BLS Polymers IPO sees strong demand, SFC Environmental Tech nears full subscription on closing day

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In 2026, Texas deployed 400 tons of concrete railroad ties off Port O’Connor; the material was arranged into two piles at an artificial reef site
Oct 29, 2026
In 2026, Texas deployed 400 tons of concrete railroad ties off Port O’Connor; the material was arranged into two piles at an artificial reef site

In April 2026, Texas took a significant step by deploying 400 tonnes of concrete railroad ties to form two artificial reef piles. This project is designed to transform the flat bottom of the Gulf into a thriving habitat for marine life. Researchers are closely examining how these artificial reefs influence fish communities, with valid concerns about potential fish migration from other regions.

ISRO to launch NVS-03 navigation satellite on October 30: Why the mission is crucial for NavIC
Oct 29, 2026
ISRO to launch NVS-03 navigation satellite on October 30: Why the mission is crucial for NavIC

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Odisha refunds Rs 69.23 crore in admission fees to 1.11 lakh college students
Oct 29, 2026
Odisha refunds Rs 69.23 crore in admission fees to 1.11 lakh college students

Odisha has refunded Rs 69.23 crore in college admission fees to over 1.11 lakh students. This refund is part of the Gyanodaya - Shiksha Ru Samruddhi scheme implemented for the 2026-27 academic session. Higher Education Minister Suryabanshi Suraj advised students to check their bank accounts for the refund. Students who did not receive the money can update their bank details for transfer.

RIL Q2 Results Preview: Profit outlook brightens as O2C business set to drive growth
Oct 29, 2026
RIL Q2 Results Preview: Profit outlook brightens as O2C business set to drive growth

Reliance Industries is expected to report 15-17% year-on-year growth in September-quarter EBITDA, driven by a sharp recovery in its oil-to-chemicals business. Brokerages expect stronger refining margins, higher throughput and a weaker rupee to offset subdued retail and oil and gas performance. Investors will track O2C profitability, Jio Platforms’ earnings and retail margins as RIL announces results.

Global Market: Japan bond yields steady ahead of BOJ policy decision
Oct 29, 2026
Global Market: Japan bond yields steady ahead of BOJ policy decision

Japanese government bond yields remained largely steady ahead of the Bank of Japan’s policy decision on Friday, supported by strong demand at a two-year bond auction and gains in US Treasuries. Markets expect the BOJ to hold rates steady, while a Reuters poll points to a possible 25-basis-point hike in December.

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