Maldives President Mohamed Muizzu has accepted the invitation to attend Prime Minister Narendra Modi's swearing-in ceremony in New Delhi over the weekend, according to a media report on Friday.
After two months of net outflow, foreign investors turned buyers in June, infusing Rs 26,565 crore in Indian equities, driven by political stability and a sharp rebound in markets. Looking ahead, attention will gradually shift towards the budget and Q1 FY25 earnings, which could determine the sustainability of FPI flows, Vipul Bhowar, Director, Listed Investments, Waterfield Advisors, said.
Ranbir-Raha's adorable pic... John goes retro...Priyanka's day out with Malti Marie...
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.
Company analysts and tax experts say neither the foreign direct investment nor the portfolio investment by large institutions will be affected.
Air India will launch its direct flights from India to Mauritius from September 12, its chairman and managing director V Tulasidas said.
'The greatness of India can be experienced by meeting Indians on the frontiers of India.' 'Every citizen on the border is a soldier'
The government of Mauritius is likely to issue a new format for the tax residency certificate (TRC) for foreign institutional investors (FIIs), incorporating additional particulars required by the Indian government.
In an emotional speech at a public reception organised by villagers and the state government, the visiting prime minister, speaking in chaste Bhojpuri, said it was like a second homecoming for him and his family on reaching this remote village from where his grandfather Mohit Ramgoolam had gone to Mauritius without any money in his pocket.
The government on Saturday lifted the ban on onion exports but imposed a minimum export price (MEP) of $550 per tonne, amid ongoing Lok Sabha elections in the country. Last night, the government imposed a 40 per cent duty on export of onions. In August last year, India had imposed a 40 per cent export duty on onions up to December 31, 2023.
If Hindenburg or its partner do not join the investigation, then Sebi may pass an ex-parte order against it, which may be enforced as a foreign award in US courts.
Other forms of securities such as compulsorily convertible debentures (CCDs), optionally convertible debentures (OCDs) and some derivatives could remain out of the scope of the amendments
India is responding swiftly to the intended Chinese encroachment in a region it has seen as its traditional sphere of influence. The Indian Ocean is becoming the latest theatre of Sino-Indian rivalry, with China straining to breach India's old intimacy with island nations like the Maldives and Mauritius and sparking a diplomatic battle between the two countries.
The Reserve Bank of India (RBI) has recognised the Fintech Association for Consumer Empowerment (FACE) as a self-regulatory organisation (SRO) in the fintech sector, the central bank announced on Wednesday. The banking regulator received three applications for fintech SRO. Of the remaining two applications, one has been returned by the RBI with a provision for resubmission after meeting specific requirements, while the third application is still under examination, said Governor Shaktikanta Das at the Global Fintech Fest in Mumbai.
Why are financial-technology (fintech) players moving back to India, or doing the reverse-flipping?
An article on 'State of the Economy' in the monthly Bulletin also said the improvement in the outlook for agriculture and the revival of rural spending have turned out to be the bright spots in the evolution of demand conditions. Consumer price inflation ticked up in June 2024 after three consecutive months of moderation as a broad flare-up in vegetable prices halted the overall disinflation that had been underway, it said.
Pakistan football team's arrival in Bengaluru for the SAFF Football Championship has been delayed due to a visa issue.
The Boeing 777 disappeared on its way from Kuala Lumpur to Beijing, sparking a two-year search which has turned up few leads.
'China is India's primary strategic challenge, which will not go away.
At a time when migrant workers from Bihar are under violent attacks in several states in their own country, a Mauritian firm has sent a proposal to the Bihar government seeking services of 500 ITI-trained hands.Filcon Cavra Limited, a company based in Mauritius, has sought the services of 500 youth with technical training from our state, deputy chief minister Sushil Kumar Modi, who holds the Labour portfolio said.
Amidst panic in the stock market over double tax avoidance treaty with Mauritius, government on Monday said India "cannot impose arbitrarily" capital gains tax on investment routed through the island nation.
In a significant development towards renegotiation of tax treaty with Mauritius, the Finance Ministry has written to the Ministry of External Affairs to take up the issue of including more areas of information exchange in the agreement between the two countries.
A multi-layer security arrangement involving five companies of paramilitary personnel, NSG commandoes and snipers have already been deployed around the Rashtrapati Bhawan. Drone cameras have also been put into service.
Lieutenant Commanders Dilna K and Roopa A will remain at sea for 8 months. They will rely on wind power, do the repairs on the boat themselves and navigate some the world's most treacherous waters.
The Reserve Bank of India's rather sudden and unilateral decision to discontinue the Asian Clearing Union, a move that effectively stops settlements in dollars and the Euro, will most impact Mangalore Refinery, which sources 60 per cent of its crude needs from Iran.
Net foreign direct investment (FDI) in India, inflows minus outflows, declined 38.4 per cent year-on-year to $15.41 billion in the first 10 months of this financial year due to an increase in the repatriation of capital. According to the Reserve Bank of India's data in the March 2024 bulletin, FDI in India was $25.53 billion and outflows were $10.11 billion in April 2023-January 2024. In the same period last year, FDI inflows stood at $36.75 billion and outflows at $11.75 billion.
Prime Minister Narendra Modi has said that the Quad is not against anyone, but for a rules-based international order and respect for sovereignty, in a veiled reference to China.
Tusk Investment, Mauritius, a wholly owned subsidiary of private equity firm Elephant Capital, has sought approval from the Foreign Investment Promotion Board (FIPB) to acquire a 30 per cent stake in Amar Chitra Katha Pvt Ltd (ACK).
The avoidable stresses and strains in ties helped in one way. It showed for the entire region how a matured India handled diplomatic relations, especially with a smaller and suspicious neighbour, with practised dignity and patience, unruffled by provocations in word, deed and action, observes N Sathiya Moorthy.
In addition to participating in the swearing-in ceremony, the leaders will attend a banquet hosted by President Droupadi Murmu at Rashtrapati Bhavan, it said.
Kareena says hi... Tisca has fun in sarson ka khet... Preity wears a happy smile...
Besides doubts relating to round tripping of investments through Mauritius, the proposal was earlier rejected on the ground that there were no details about the offshore entity.
Net inflows were $18.4 billion for the rolling 12-month period ended January 2024 compared to $32.7 billion for the rolling 12-month period ended January 2023.
