New Delhi: Market regulator SEBI will conduct an auction on Thursday for grant of investment limits to foreign investors in government debt securities worth over Rs 42,000 crore - the biggest sale of G-Secs so far this year. It would be first auction for debt securities since a hike in the investment limits for FIIs in government debt to $30 billion, from $25 billion previously, earlier this month.
Besides, an expert committee recently recommended to SEBI that the regulator should further ease the regulations governing registration for FIIs and make it easier for them to invest in India. The proposals are likely to be discussed by SEBI's board next week.
The planned auction follows a robust interest shown by the Foreign Institutional Investors (FIIs) for sale of government debt bond investment limits to the tune of Rs 5,533 crore last month, which had attracted bids worth more than Rs 10,000 crore.
A total of 68 FIIs had participated in last month's auction, while 26 bids were declared successful. However, the FIIs have been mostly selling their investments in Indian debt securities in the past few weeks. So far in June, FIIs had made a net outflow of over Rs 20,000 crore from the debt securities, after a net inflow of close to Rs 25,000 crore in the first five months of 2013. ...
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08:56 AM, Jun 20, 2013
New Delhi: Indian actress Freida Pinto, who has lent her voice for one of the stories in documentary feature film 'Girl Rising', said the privileges she experienced growing up motivated her to be a part of this project. Directed by Academy Award-nominated director Richard E Robbins, the documentary tells the stories of nine girls from different parts of the world who face arranged marriages, child slavery, and sexual abuse. Despite...
11:26 AM, Jun 19, 2013
New Delhi: A government panel on Tuesday proposed raising foreign investment limits in sectors like defence, multi-brand retail and telecommunications, to spur investment in the country and tide over the Current Account Deficit woes. "We have submitted the report to the Finance Minister. Action will be taken on it as and when the government decides. Policy is with DIPP so finally they will take a call. This is just our...
12:08 AM, Jun 19, 2013
London: Somdev Devvarman missed chances galore, including a match point, as he crashed out of the Wimbledon qualifiers after losing a gruelling and energy-sapping first round match against Australia's Matt Reid, here on Monday. Somdev, who is ranked 78 places above the Reid at 135, frittered away a good start to lose 6-7 (4) 6-4 16-18 in his opening round of the only Grass Court Grand Slam of the season....
07:36 PM, Jun 17, 2013
New Delhi: Government on Friday allowed Norwegian telecom firm Telenor to increase stake in its Indian arm from 49 per cent to 74 per cent at an estimated equity infusion of around Rs 934 crore. "Telenor proposal has been approved," Economic Affairs Secretary Arvind Mayaram said after the meeting of Foreign Investment Promotion Board (FIPB). Industry sources said Telenor's proposal involve investment of Rs 934 crore to raise stake by...
09:38 PM, Jun 14, 2013
New Delhi: The Foreign Investment Promotion Board (FIPB) has deferred a decision on Gulf carrier Etihad Airways' planned 24 per cent stake buy in Jet Airways, the country's economic affairs secretary said on Friday. The board has sought more details on "effective control" and ownership, Arvind Mayaram said. After the FIPB, which clears foreign direct investment proposals, the deal will also need approval from the cabinet committee on economic affairs....
04:55 PM, Jun 14, 2013
Halle: Second-seeded Richard Gasquet swept past Jurgen Melzer 6-3, 6-1 on Thursday to reach the quarterfinals of the Gerry Weber Open. Sixth-seeded Philipp Kohlschreiber joined Gasquet in the last eight by beating German compatriot Tobias Kamke 6-4, 6-3. Kohlschreiber won the Halle event in 2011. The tournament is a grass-court tune-up for Wimbledon. Gasquet fired an ace to close out the first set and dominated the second. Down 15-40 in...
11:11 PM, Jun 13, 2013
Uncontrolled fear is the greatest threat to the sanctity of liberty and freedoms that mankind has struggled to attain for centuries. Terror incidents that shock ...
02:57 AM, Jun 12, 2013
The Finance Ministry said that it will take steps to increase foreign investment flows into the country to strengthen the depreciating rupee. ...
11:42 PM, Jun 11, 2013
New Delhi: The Finance Ministry on Tuesday said it will take steps to increase foreign investment flows into the country to strengthen rupee and the regulators will act at appropriate time to contain the fall in domestic currency that touched a record low of 58.96 to a dollar. "We will continue to implement measures to ensure that portfolio investor inflows are enabled and encouraged and some of these measures will...
04:50 PM, Jun 11, 2013
Islamabad: Pakistani Prime Minister Nawaz Sharif in his speech to the first cabinet meeting on Monday condemned the US drone attacks as violation of national sovereignty. Sharif has been critical of the drone attacks in the country's tribal regions since he assumed office as the prime minister last week, reported Xinhua. The CIA-controlled drone operation carried out one strike in North Waziristan only two days after Sharif became the prime...
04:20 AM, Jun 11, 2013
New Delhi: Prime Minister Manmohan Singh spent Rs 620 crores on air travel during foreign trips spanning the years between 2004 and 2013, the website of Prime Minister's Office has revealed. He spent the most on his trip to Mexico and Brazil in June 2012, racking a bill of Rs 26.9 crore in just eight days. PM Manmohan made 67 trips from 2004 to 2013, out of which five still...
10:00 PM, Jun 08, 2013
Islamabad: With Prime Minister Nawaz Sharif deciding to retain the foreign affairs portfolio, former minister Sartaj Aziz will play a crucial role as his advisor in charting a way forward on issues like relations with India and the US. The Cabinet Division has notified the appointment of the 84-year-old Aziz as Advisor to the Prime Minister on National Security and Foreign Affairs. Aziz served as both finance and foreign minister...
05:35 PM, Jun 08, 2013
Jerusalem: An Israeli man convicted of sex offences against young children has gained custody of a four-year-old Indian girl through an agreement with a surrogate mother in India, according to a media report. The man legally adopted the child through an agreement with the surrogate Indian mother and under current legislation the Israeli authorities do not have the power to remove the girl away from him, the Jewish Chronicle reported....
02:46 AM, Jun 07, 2013
New Delhi: In response to the DIPP's plea for clarity on FDI policy in multi-brand retail (MBR), the Cabinet issued clarifications which allow only 30-per cent sourcing for front-end stores and forbid the MBR entity from conducting any other form of distribution. The sourcing conditions are only for manufactured store-products and does not apply to the procurement of fresh produce. MBR entities are to make fresh investment for back-end infrastructure...
10:45 PM, Jun 06, 2013
New Delhi: Gold futures prices on Thursday fell by 0.39 per cent to Rs 27,771 per 10 grams as participants indulged in reducing exposures, after the government raised import duty on the metal to 8 per cent amid a weak trend overseas. Analysts said sentiments turned weak after the government on Wednesday night hiked the import duty on the metal to 8 per cent, up by 2 per cent, in...
01:15 PM, Jun 06, 2013
New Delhi: The Enforcement Directorate on Wednesday slapped a Rs 8,600 crore show-cause notice on construction major Emaar MGF Land Ltd and its sister firms for alleged forex rules violation, the biggest such penal action in country's real estate sector. The agency, which began an investigation in 2010 with regard to the group bringing in Foreign Direct Investment (FDI), alleged that the firm has violated the rules stipulated by the...
10:54 PM, Jun 04, 2013
