Good news for RIL, ONGC as govt scraps windfall tax

The government on Monday scrapped 30-month old windfall profit tax on domestically-produced crude oil and on export of jet fuel (ATF), diesel and petrol following a decline in international oil prices. Photograph: Dado Ruvic/Reuters Minister of State for Finance Pankaj

Forex reserves drop $1.31 bn to $656.5 bn

India’s forex reserves dropped $1.31 billion to $656.58 billion for the week ended November 22, the Reserve Bank of India (RBI) said. Photograph: Dado Ruvic/Reuters The kitty had dropped a record $17.76 billion to $657.89 billion in the previous reporting

Google to be probed for unfair biz in gaming apps’ listing on Play Store

Fair trade regulator CCI on Thursday ordered a probe against Google and its affiliates for alleged unfair business practices with respect to listing of real money gaming apps on Play Store. Photograph: Dado Ruvic/Reuters While passing the order, CCI said