This Diwali, Rakesh Mehta, a senior sales and marketing employee with an IT firm, will celebrate in Australia with his family. Mehta, is one of the top performers of his company and has been rewarded with this 'Diwali Gift'. Other top performers from his company will celebrate their Diwali in New Zealand and Mauritius. In fact, a lot of IT, BPO, pharma companies and banks are rewarding their employees for good performance by sending them to exotic locations.
The Indian companies, however, invested a much lower $1.59 billion in overseas markets in the previous month May 2014.
The income tax (I-T) department in Mumbai has requested Vodafone to make an application to the assessing officer for determining the exact tax liability resulting from buying out 62 per cent equity stake from Hutchison in Hutchison Essar Ltd.
The country's largest marketer of petroleum products is facing troubles in Sri Lanka, one of the two overseas markets where it sells fuel through its fully owned subsidiary, Lanka IOC. The other country is Mauritius.
Overall foreign inflows into the country grew by 8 per cent to $ 24.29 in the last fiscal as against $ 22.42 billion in 2012-13.
In January 2014, the country had received $2.18 billion FDI.
The Pride Group of Hotels will float an initial public offering in the first quarter of 2008 to part-fund its expansion plans of Rs 340 crore.
The government on Thursday gave its nod to a foreign direct investment of $150 million (Rs 675 crore) in Maran family-run Sun TV's ambitious direct to home service project.
Packaging major Essel Propack Ltd has entered into a share purchase agreement for acquiring 85 per cent stake in US-based Tacpro Inc and Avalon Medical Services Pte Ltd, Singapore.\n
Military sources said the research ship Shi Yan 1 forayed into Indian waters in September but was forced to retreat after it was suspected to be involved in spying.
SP leader Naresh Agrawal alleged that the government was 'deliberately sitting' over the names that have come to light in the leaked documents from the files of law firm Mossack Fonseca, based in the tax haven of Panama.
US-based Mylan Laboratories Inc has acquired around 51.5 per cent stake in pharmaceutical company Matrix Laboratories for Rs 306 per share.
Future World Cup hosts South Africa fielded 10 new caps as they edged past Malawi 5-4 on penalties in their Cosafa Castle Cup Group B semi-final at Swaziland's Somhlolo stadium.
