Investors, at a recent property exhibition concluded by magicbricks.com, were seen selling flats at 30 per cent discount to the market rate compared with the builders' offer of 15-20 per cent, according to reports. Investors normally comprise about 30 per cent of the property markets.
Roche expects to start selling Actemra by April 2009, company sources said. India will be the second country to launch the drug, Japan being the first. The Indian drug regulator Drug Controller General of India usually approves a new drug marketing application based on safety and efficacy data cleared by regulators in the US, EU and other developed countries.
Since Thursday, several carriers, mainly international, have cancelled their flights in and out of Mumbai due to sparse load factor or the inability of the crew to reach the airport. Amongst the domestic carriers, Kingfisher Airlines combined around eight flights. Air India also clubbed some of its flights in the domestic routes. Jet Airways, JetLite, IndiGo and SpiceJet did not cancel any flight.
Raghuram Rajan, the PM's honorary economic advisor, said in 2006, 'It is important for India to exchange its paternalistic, directive government, which seeks to remedy every wrong through a subsidy, a quota, or a scheme, for one that creates an enabling environment for the people and unleashes their entrepreneurial zeal.' Two years later, his words seem prescient. But how much of what he says should be done will be done by the government in the limited tenure it has left.
With store rentals dropping as much as 35 per cent in the last one year, retailers say opening stores in certain locations has become profitable. As a result, some retailers plan to roll out their bigger format stores and others are booking retail spaces that will come up in two years at a much lower cost.
Yes Bank plans 100 bps cut, other private players to wait; public sector may move first. The bank, which currently disburses loans to corporate clients at around 17 per cent, may also pare deposit rates by 50 basis points in December.
Three alternative approaches under consideration envisage addressing the flaws of the domestic market, broadening the foreign institutional investor framework and replacing the FII regime with a QFI framework. By reducing the complexity of obtaining permits, foreign investors will be encouraged to us onshore Indian stock market platforms. Individual investors will be allowed to trade on Indian bourses by opening a demat account and a bank account.
The decision by the Union government and the Reserve Bank of India to infuse Rs 1,25,000 crore (Rs 1,250 billion) into the banking system in the last two weeks alone is unlikely to fuel inflation, say economists, since this infusion will only meet the basic demand and not lead to a spillover.
The government is discussing a number of policy measures to insulate India from the impact of the global financial crisis including further banking reform, industrial de-control, auctioning all loss-making public sector units, foreign investment in retail, amending labour laws and notifying important pending legislation like the Delhi Rent Control Act.
Infosys had bid at 600 pence a share for the UK company. Infosys will get the one per cent inducement fee that Axon has to pay to the party unable to close the deal.
Most realtors are already advertising cash discounts of 5-10 per cent on upfront payment and buyers can get up to 25 per cent discount if they book properties and are willing to wait for two to three years until possession. According to consultants, developers may even give 15-20 per cent discount on the price as they are eager to clear inventories.
Having made no headway to amend a 26-year-old double taxation avoidance agreement with Mauritius, the finance ministry has hardened its stance against broadening India's economic engagement with the island nation.
In effect, the government proposes to relax the norms with regard to foreign participation in multi-brand retail by opening up these specialised sectors, while keeping grocery and consumer goods retail out of bounds. The move comes months after the Left parties, which were opposed to any relaxation of FDI norms for the retail sector, pulled out of the United Progressive Alliance government.
Move to make investing in sectors with FDI cap easier.
Anxious executives from 150 Greater Noida factories met on Wednesday to take stock of the simmering labour unrest in the sprawling industrial township in the outskirts of Delhi after Graziano Transmissioni Managing Director Lalit Kumar Chaudhary was killed by a mob of retrenched workers on Monday. Privately, many of them said it would now become hard to downsize in the impending industrial slowdown.
The relaxation will apply to those sectors that have composite caps (foreign direct investment or FDI plus FII). "The move will not impact sectors like banking and insurance which are governed by Acts of Parliament. However, sectors with composite caps which see administrative control like telecommunication services, broadcast services like direct-to-home and FM radio will benefit," a Delhi based FDI policy expert told Business Standard.
Mobile telecom service providers are up against a new problem -- unidentified operators have been found to take out subsidised handsets from their 'bundled' connections and ship them to overseas markets at significantly higher prices.
The government may liberalise external commercial borrowing rules in the next few days, especially for the infrastructure sector including capital-intensive ones like telecom, a Finance Ministry official said on Friday.
More than nuclear power, India stands to gain access to a wide range of dual-use goods and technologies, from which it was barred, as a result of the waiver by the 45-country Nuclear Suppliers' Group.
It has been nearly four months since Sidharth Punshi, 34, former executive director at Goldman Sachs, joined Jefferies International, a global investment bank and institutional securities firm, as the managing director and country head for India. In a recent interview, Punshi told Business Standard that despite the tight liquidity scenario and a challenging global situation, Indian companies continue to chase merger and acquisition deals abroad.
