The Reserve Bank of India has rejected Essar Communications' application to pledge its equity in Hutchison Essar Ltd to Standard Chartered Bank, London.
After a year of taking over the airport, the GMR-led Delhi International Airport consortium has initiated the process of commercial property development by inviting bids for building hotels on nearly 40 acres.
A sense of urgency can be detected in the Congress-led UPA government's attempt to shift its policy stance with a series of initiatives aimed at reinforcing its image as a government for the common man.
Ratan Tata, in his capacity as the chairman of the Investment Commission, has warned that major projects entailing a combined investment of nearly $60 billion are meeting delays and roadblocks for no apparent reason.
The department of economic affairs in the Union finance ministry has suggested aggressive sterilisation of foreign capital inflows, tightening of government expenditure and intervention in key farm produce markets like wheat.
The department of commerce may de-recognise the 247-hectare engineering special economic zone at Hazira, promoted by Essar Hazira SEZ Ltd.
Bid to plug loopholes that surfaced in Hutch Essar case.
Realty major DLF and Bharat Hotels, owners of The Grand group of hotels, are working towards a joint venture for developing and running hotels. While DLF will own the land and be in charge of the actual construction of hotels, the latter will operate
60 per cent of home buyers are shying away from pre-launches.
Bonanza for customers in days of liberalisation.
Was the real estate euphoria just a bubble waiting to burst? The current financial year will reveal the answer.
With big developers eyeing land buyouts and projects of smaller builders, the real estate sector in the country will witness consolidation in six to eight months. A key driver would be attractive valuations of such properties.
The decks are being cleared for the acquisition of Hutch-Essar by Vodafone, with the department of legal affairs of the view that the 12.26 per cent stake held in Hutch-Essar by Asim Ghosh and Analjit Singh was in conformity with norms.
The trade policy specifies that "for all goods and services exported from India, services received, rendered abroad, wherever possible, shall be exempted from service tax".
The Foreign Investment Promotion Board has expressed dissatisfaction with the replies given by Hutchison Essar, its Hong Kong-based parent Hutchison Telecom International
The Mukesh Ambani-controlled Reliance Industries is entering the supply-deficient hospitality business and is in talks with big international names such as Walt Disney, Ritz Carlton and Four Seasons
Opening another line of inquiry into the Hutch-Essar shareholding structure, the Foreign Investment Promotion Board (FIPB) is looking into the call options that would together give Vodafone a further 15.03 per cent proportionate indirect equity owner
In a double whammy for real estate developers, banks are likely to raise lending rates to builders by up to one percentage point while consumer interest fades with home loans becoming more expensive.
Leading bankers expect the number of transactions to fall 30 to 35 per cent as buyers wait for a price correction in real estate.
The developers have already started feeling the pinch.
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