The government will press ahead with the sale of public sector companies that have been approved by the Cabinet, Finance Minister Nirmala Sitharaman said on Thursday. Highlighting that FDI flow into India is much higher compared to other emerging economies, she said India's strong macroeconomic fundamentals, ability to do reforms and a stable government help attract long-term foreign funds into Indian businesses.
Government believes privatisation would increase the airline's efficiency and make it profitable, enriching the value of the remaining stake with it.
The RBI rejection is a second blow to BoB - the lead bank of both companies -- after a Delhi high court order on August 18 stayed a move by BoB and the entire consortium of lenders to classify these accounts as fraud, restraining them from taking any other coercive action till the next hearing.
It is Mumbai's favourite festival and is celebrated each year with fervour and frenzy. But when the city welcomes "Ganpati Bappa" this Friday, the celebrations will be low key. With a cap on the size of idols, ban on processions and restrictions on devotees visiting pandals, celebrations are toned down for the second year in a row. Festival budgets have shrunk and as a result, corporate sponsorships have dried out.
16 Indians were missing after the incident that happened at Seela Ceramic Factory in Bahri area in Khartoum, the national capital, on Tuesday.
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Ernst & Young LLP India has been appointed as transaction adviser for the strategic divestment process.
This is not an exhaustive list of best DSLRs; there are several others, which also hold their ground in their respective segments.
Decades of military rule kept the country closed to foreign investors.
Ashok Khemka, the whistleblower IAS officer, was in news for a different reason on Friday with the Punjab and Haryana high court issuing notice of contempt against two HUDA officials over his plea alleging that he was wrongly denied plot under service quota.
Shah came under scanner last year, when his group company NSEL faced a payment crisis and nearly 18,000 investors allegedly lost millions in late July.
It also comes ahead of a possible visit by President Donald Trump to India later this month. Trump is set to visit India on a two-day trip between February 23 and 26 and both sides are in the process of fine-tuning his schedule, according to sources in New Delhi.
The successor to the popular 5D Mark II is out. Swapnil Mathur of ThinkDigit tells you if it's worth the money.
The last date to submit bids is March 17 but the deadline could be extended if there are requests from potential bidders.
An interview with Annush Ramasamy, programme director, South Asia, Global Student Entrepreneur Awards (GSEA).
A person in the know of the PIM details said an entity can put in bid for Air India on the "strength of its parent", which was not there before. A consortium can participate in the disinvestment process, provided each partner has at least 10 per cent stake as well as 10 per cent of the Rs 3,500 crore net worth requirement, according to the bid document. The lead member of a consortium should have at least 26 per cent stake. Individuals are allowed to bid as part of consortium.
The turnaround of SAIL from several quarters of losses was one of the most challenging experience, said Anil Kumar Chaudhary, the outgoing chairman of the country's largest steel maker. The chairman said he also wants to see SAIL paying back at least 50 per cent of its debt in the near future. Chaudhary who had joined SAIL as a junior manager in 1984 would be superannuating from the top post on December 31, 2020 after serving the company for almost 36 years in various roles.
Reliance Infrastructure (R-Infra), an Anil Dhirubhai Ambani Group company, is on the warpath with the state electricity regulator. Stung by the Maharashtra Electricity Regulatory Commission's (MERC's) decision to invite expressions of interest (EoIs) for the distribution of power to Mumbai's suburbs, R-Infra is examining the possibility of legal action.
Expressing serious concerns over the DTC Bill, SEZ entrepreneurs on Tuesday said the proposed tax provisions would hit employment and drive away investors from the special economic zones.
Around 200 brokers are said to be involved in the scam; they have been summoned for questioning. Major brokerages questioned by the EoW so far include Anand Rathi, Motilal Oswal, India Infoline and Geojit Comtrade.
Satyam on Thursday closed registrations for potential bidders as it began a process to sell 51 per cent stake in the company, which is caught in the country's biggest corporate scandal. The board will make the financial and legal data available to those shortlisted companies who will qualify in the EoI criteria.
The last date for receiving EoIs is February 28, after which a new reserve price will be announced.
The Gupta family has relocated to Dubai amid corruption charges against them in South Africa.
The new government may also introduce a separate scheme for revival of stranded gas-based power projects
L&T is the largest single shareholder in Satyam holding a 12 per cent stake in the IT firm.
The only fuel that showed growth was LPG as the government dole of free cooking gas cylinders to poor households fired up consumption by 21 per cent during April 1 to 15.
Sources said that Essar group firm Aegis BPO submitted the EoI recently as the Essar group is trying to expand its BPO business. Both Aegis and Satyam BPO work with companies in telecom, banking, finance and insurance. Satyam BPO's biggest international clients reportedly include BellSouth, Verizon and GlaxoSmithKline
State run MTNL has taken to the franchise route to sell its 3G services in Delhi and Mumbai and has floated a global Expression of Interest for 3G Services Franchisee.
The source, however, did not reveal the names of the companies, which have submitted EoIs, but it could be engineering major Larsen & Toubro, Mahindra Group, Hindujas, Spice and i-Gate, among others. Meanwhile, three PSBs have given in-principle nod to Satyam to provide short-term loans for meeting salary, working capital, payment of arrears to vendors, provident fund dues, TDS and rentals charges.
A clutch of foreign and domestic institutions has submitted expressions of interest to acquire at least 26 per cent in the Delhi-based Industrial Finance Corporation of India (IFCI).
Though the Planning Commission favours imposition of a direct tax on Special Economic Zones (SEZs), it does not agree with the contention that these tax-free industrial enclaves are leading to revenue loss.
Fujifilm leaps ahead of mirrorless camera competition by launching its GFX 100, a 102MP medium format CMOS sensor camera and two new Fujinon large format cinema zoom lenses named the Premista series.
'We are going to see relatively soon an executive order that deals with H-1B and other temporary visas.' 'We are also going to see an executive order on undocumented people.' 'Undocumented Indians comprise the largest population growth of all undocumented people in this country.' 'Just because India is not named in this executive order doesn't mean it won't be in the future.'
Speaking to Business Standard on the sidelines of the ground breaking ceremony of the Chennai-based Sri City's SEZ in Tada, in Andhra Pradesh, last week, Singhal said SEZs in the country have so far generated over 300,000 jobs, adding once all the 462 zones start functioning, they are expected to create 4 million jobs.
Bloggers, who have picked up on this order and have begun pointing out its inequities, point out that the wording of this EO is deliberately vague.
Govt reconstitutes body, says will not interfere in senior PSB appointments
As prices go up and airlines go under, can you still afford to travel well? Here are three tips and six 'secret' routes by Peter Greenberg.
Hiranandani, K Raheja Builders, Gamon Infrastructure and Kalpataru are reported to have shown interest in the Rs 9,300-crore project, launched by the Slum Rehabilitation Authority (SRA) of the Maharashtra government.
RNRL and Mukesh Ambani's RIL are fighting a legal battle over the terms of gas supply agreement for Anil Ambani Group's gas-based Dadri power project. Two weeks ago, government lawyer Mohan Parasaran had stated in the court that the Empowered Group of Ministers had decided that $4.2 per mmbtu would be the minimum price of KG basin gas.
These 7 blocks are adding exploration acreage of 18,510 square kilometres spread over three sedimentary basins of India and have a resource potential of approximately 33 billion barrels of oil and oil equivalent gas.
