The German cabinet on Wednesday approved a package of measures to promote startups and improve access to capital markets, government sources told Reuters, though it is unclear whether it will also be green-lit by parliament before February elections. The so-called Second Financing for the Future Act is intended in particular to improve the tax framework for investments in venture capital.
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Afcons Infrastructure, a recently listed company from the Shapoorji Pallonji group, has reported renewed traction on bourses after its Q2 result was declared over the past weekend. Though the company reported year-on-year fall in revenue due to seasonal weakness, margin improvement and traction in order book were key positives. The stock has gained around 7% over the IPO price since its listing.
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IT services company Infosys is handing out a 90% average performance bonus to eligible employees for the quarter ended September, sources said. The payout which will be disbursed with November-end salaries, covers employees in the mid to junior levels. The performance bonus averages about 90 per cent this time around, sources said, adding it was at about 80 per cent in Q1.
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