Chennai

Companies on a crèche hunt post Maternity Act

Companies can no longer be complacent by just taking care of their employees; getting toddlers of the employees to crèches is also their headache. Since the Maternity Benefits (Amendment) Act came into force, daycare service providers are seeing an unprecedented demand from companies for setting up crèches in their office premises or in their vicinity.

‘L’Oreal ads misleading’

The Advertising Standards Council of India found the claims made by some of the personal care products in their advertisements objectionable.

ASCI’s Consumer Complaints Council (CCC) upheld complaints against advertisements of L’Oreal India’s New Garnier Light Serum Complete Cream endorsed by actor Alia Bhatt. The advertisement’s claim, “With new Garnier Light Complete …de three tones lighter skin sirf ek week mein”, was not substantiated and was misleading by exaggeration, CCC found.

Bill selling up 4-5 times to beat GST regime

The goods and services tax (GST) introduced to track the trail of transaction has in fact increased illegal activiti­es in terms of billing by multiple times. ‘Bill selling’, a practice common in the co­n­struction sector among th­ose who inflate cost of pro­j­ects, has gone up four-five times after the launch of GST.

India clocks fastest growth in HNI population and wealth

India was globally the fastest-growing market in terms of high net-worth individual (HNI) population and wealth in 2017. By growing HNI population by 20.4 per cent and HNI wealth by 21.6 per cent, India also inched up to the 11th position in the list of countries with HNI population.

Crypto-assets risky but block-chain tech can be future of savings in gold

While the gold market finds crypto-currencies as risky assets and a competition for gold, it hails the blockchain technology, which is used by crypto-assets, as the future of savings in the yellow metal.

A recently held investm­ent summit by World Gold Council (WGC) found that the blockchain technology is considerably more interesting than the crypto-assets it supports. Investment in gold could be facilitated through digital tokens and the block­ch­ain technology examples of which exist already, the summit found.

US, Canada bound students have to take maternity, mental illness, drug addiction cover

Students who are keen on studying in the US and Canada have to buy travel insurance policies that will include maternity and baby cover and riders covering mental illnesses and alcoholic disorders.

Usually, travel insurance is taken to protect a person travelling abroad from untoward incidents, including loss of baggage, travel documents and medical emergency. Universities and embassies in the US, Canada and some of the European countries mandatorily require travel insurance for foreign students.

India expects growth in G&J exports as China slashes tariffs by 65%

Direct exports of jewellery to China as well as that to Hong Kong are expected to see significant growth with Beijing reducing import tariffs by an average 67 per cent on 18 categories of jewellery.

The Chinese customs ta­r­iff commission has reduced ‘most favoured nation’ tariffs for consumer goods covering 1,449 tax categories, including 18 types of jewellery.

NLC to trade power independently

Having secured a licence, Neyveli Lignite Corporation will be independently trading in the power market through a power trading arm. The company hopes that the new development will double its revenue from trading.

NLC has secured a Category I licence for power trading from Central Electricity Regulatory Commission last week. With this licence, the company can independently trade in the power market.

“As a part of its business promotion and diversification plan NLCIL has joined the league of Accredited Power Traders in the country,” the company said.

Only 32% Indians make financial transactions online

Banking transactions, utility bill payment and online shopping are the three top financial transactions users make online, finds a study. However, only 32 per cent respondents who hold insurance policies are comfortable with any value transaction online.

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