New Delhi: Prime Minister Manmohan Singh will be meeting corporate leaders on Wednesday to discuss ways to improve the investment climate in the country. India Inc had requested for the meeting with the Prime Minister to take up macro economic issues and slowing investments. India Inc is pinning its hopes on the government to revive the slowing economy through administrative steps, after the Reserve Bank of India (RBI) left key...
09:58 AM, Aug 01, 2012
New Delhi: The government on Tuesday said it has approved Rs 225 crore foreign investment in Indian operations of Asian equity research major CLSA, besides 13 other FDI proposals involving Rs 1,584 crore. "Based on the recommendations of Foreign Investment Promotion Board (FIPB)...Government has approved 14 Proposals of FDI amounting to Rs 1,584.11 crore approximately," the Finance Ministry said in a statement. CLSA is an Asian unit of European Banking...
08:05 PM, Jul 24, 2012
New Delhi: Planning Commission Deputy Chairman Montek Singh Ahluwalia has said that the Finance Ministry under Prime Minister Manmohan Singh will very quickly "resolve" uncertainty among investors caused by anti-tax avoidance rules which were unveiled in the Budget. Talking about former finance minister Pranab Mukherjee, he said that it was not right to put the blame for slow growth on any one person. Speaking to Karan Thapar on Devil's Advocate,...
08:17 PM, Jul 01, 2012
New Delhi: The Deputy Chairman of the Planning Commission, Montek Singh Ahluwalia has said that it is not possible for India to achieve the 7.6 per cent growth target set earlier this year. His statement assumes significance in light of Prime Minister Manmohan Singh taking over the Finance Ministry. Speaking to Karan Thapar on Devil's Advocate, Montek said that it was more realistic to expect and 6.5-7 per cent GDP...
08:02 AM, Jul 01, 2012
Mumbai: The Reserve Bank of India (RBI) on Thursday directed Muthoot Fincorp Ltd arm - Muthoot Estate Investments - not to accept any deposits from public in any manner. "The RBI has directed Muthoot Fincorp Ltd to stop allowing the use of its premises or branches or officials, in any manner by Muthoot Estate Investments for accepting deposits from public," the RBI said in a notification. Muthoot Fincorp Ltd, a...
09:53 PM, Mar 29, 2012
Bangalore: Tech-savvy Karnataka on Wednesday unveiled a special policy on animation, visual effects, gaming and comics (AVGC) to attract investments and generate employment for thousands of educated youth in the sunrise sector. "Karnataka is the first state in the country to formulate a separate policy on AVGC with a view to making the state a preferred destination in the new sunrise sector," state Labour Minister B.N. Bacchegowda said while releasing...
03:24 PM, Feb 29, 2012
New Delhi: Norwegian telecommunications company Telenor on Friday came out strongly against the Supreme Court ruling ordering all 2G licenses to be scrapped saying that the order was a "very serious attack" on the firm's investments. "The Supreme Court ruling is a very serious attack on the firm's investments. Quitting the Indian market now is an option being considered," a statement by the company read. It added, "(The firm) may...
08:42 AM, Feb 03, 2012
Mumbai: Overseas investments by Indian companies stood at $ 797 million in January, with Tata Group, infrastructure major IL&FS and pharma major Lupin emerging as major investors. As many as 418 overseas investment transactions were carried out by various companies last month. However, outbound foreign direct investment (FDI) in the month of January was over 45 per cent less than the $ 1.46 billion figure during December 2011, according to...
07:57 PM, Feb 02, 2012
New Delhi: Although the economy is in a difficult situation, things have not come to such a pass that people should start eating lizards, Finance Minister Pranab Mukherjee said on Wednesday. "The economy is in a difficult situation, but it does not mean that we should start eating lizards. Our basic fundamentals are still strong," he said in Lok Sabha in reply to a discussion on the second batch of...
09:44 PM, Dec 07, 2011
New Delhi: The Union Cabinet gave its nod for foreign funds in retail on Thursday, a move that the beleaguered UPA hopes will help salvage its image. It's also the government's first big policy initiative that sends a clear message to dissenting allies like TMC chief Mamata Banerjee as to who's calling the shots in the coalition. Sources say both the Prime Minister Manmohan Singh and Commerce Minister Anand Sharma...
07:12 AM, Nov 25, 2011
New Delhi: The Union Cabinet on Thursday cleared 50 per cent foreign direct investment (FDI) in multi-brand retail and 100 per cent FDI in single brand retail despite division within the UPA on the issue. The Bharatiya Janata Party (BJP), the Left, UPA ally Trinamool Congress along with some Cabinet ministers Veerappa Moily and Mukul Wasnik have opposed it. While the BJP feels that FDI will lead to unemployment, the...
08:49 PM, Nov 24, 2011
New Delhi: India is considering opening fully its single-brand retail sector to foreign direct investments. The announcement was made on Monday by the Industry Secretary, R P Singh. The step is being seen as a possible boon to the government's reform programme, which has appeared on the backburner. India currently allows 51 per cent foreign direct investment (FDI) in single-brand retail and 100 per cent in wholesale operations. The government...
12:03 PM, Oct 03, 2011
Mumabi: Overseas investments by Indian companies in July was $2.69 billion, with Tata Steel, Crompton Greaves and Glenmark, among the leader players committing investments abroad. The FDI outflows last month is almost half of $5.47 billion outflow in June. According to an RBI data released on Tuesday, as many as 289 overseas investment transactions were carried out by various companies last month, with Sanmar Group International leading the pack. It...
10:37 PM, Aug 02, 2011
New Delhi: Investing, much like contract bridge, is a loser's game which means that the best performers succeed by minimising their own errors and taking advantage of other people's mistakes. The behaviour of most investors today suggests that risk is not uppermost on their minds. Since future returns are driven by perceived risk, the equity market today is not priced for above average returns during the next 12 months. The...
11:18 AM, Jun 07, 2011
Kolkata: Inviting NRIs to make large-scale investments in West Bengal, Chief Minister Mamata Banerjee has said her government was working to open a cell under the Finance Ministry, to be monitored by her, to cater to their investment proposals. "I request NRIs to join the present drive to develop West Bengal which has great investment potential and has largely remained untapped for the past 34 years of Left Front rule,"...
07:48 PM, May 28, 2011
New Delhi: Flush with billions of dollars of cash, Mukesh Ambani-led Reliance Industries may soon announce overseas acquisitions and a faster roll-out of its telecom services, a research report has said. "Over the next few months, we anticipate positive news flow on several fronts including broadband rollout and potential acquisitions, as well as the gas business," Global financial services major HSBC said in a brokerage report on Reliance Industries (RIL)....
03:27 PM, May 27, 2011
Washington: Seeking efforts aimed at increasing additional investment flows to developing countries, India has said the need to positively impact the lives of the poor should be the mantra that should permeate the thinking of the World Bank. "Be it sectoral or regional strategies; be it design of new instruments or products; be it modernisation or governance reform; the goal should, at all times be, ensuring that all these changes...
12:15 PM, Apr 17, 2011
New Delhi: The Income Tax Department has slapped a penalty of Rs 20,000 crore on four associates, including businessman Kashinath Tapuriah, of Hasan Ali Khan who is accused of stashing huge amounts of black money in foreign banks. "A penalty of about Rs 20,000 crore has been slapped on associates of Hasan Ali Khan," Revenue department sources said. Besides Tapuriah, who is in Enforcement Directorate's custody, the Pune-based stud farm...
07:28 PM, Apr 05, 2011
Nagpur: The famous pilgrim centre of Shri Saibaba temple in Shirdi, one of the richest temples in Maharashtra, has ornaments and jewellery worth over Rs 32-crore and investments running into Rs 4,27,17,02,929-crore,according to official documents. The administration of Shri Saibaba Sansthan Trust (Shirdi), governed by the Managing Committee which was constituted by the Maharashtra Government way back on August 23, 2004 has Kisan Vikas Patras worth Rs 51,71,00,100 crores besides...
12:52 PM, Jan 04, 2011
The change in sentiment is palpable on Dalal Street. Just two months ago, stock market pundits were vying with each other to assign aggressive ‘fair value’ targets to BSE Sensex and NSE Nifty. The projected earnings of Sensex stocks in 2011-12, in the range of Rs. 1,250-1,275 were quickly discounted into the price and people started talking about profitability expectations for the following year, 2012-13. But the warning signs were...
10:45 AM, Jan 04, 2011
