Prime Minister Narendra Modi on Friday embarked on a tour of Japan, Papua New Guinea and Australia to attend three key multilateral summits including that of the G7 grouping and Quad.
Under the agreement, SBI would hold a 74 per cent stake in the new entity that would be set up for providing the business, while the Australian partner would hold the remaining, SBI said in a filing to the Bombay Stock Exchange. In May this year, both parties had said they would enter into an agreement to form a new company for the proposed insurance business. However, the JV is subject to regulatory approvals, it added.
More corporates from across the world are keen on setting up operations in India, ranked the top destination for investments and acknowledged as being strategically important to them by global businesses.
Orchid Chemicals and Pharmaceuticals Ltd has entered into a marketing alliance with Australia-based Mayne Pharma, for distribution of select life-saving injectable antibiotic formulations.
A new era of Indian equity market outperformance compared to China "appears to be dawning", according to Morgan Stanley. The firm has upgraded India to overweight in its Asia Pacific-excluding Japan (APxJ) list, making it their most preferred market not only in the region but also in the global emerging market (GEM) pack. India now holds the top position in this category, with an overweight of 75 basis points, a significant increase from nil previously.
Malaysian construction firm IJM Corp. said Monday it is jointly developing a township in India's southern Andhra Pradesh state for 599 million ringgit ($158 million).
Tata Iron and Steel Company Ltd has completed the acquisition of Singapore-based steel company NatSteel Ltd by subscribing to 100 per cent equity of its subsidiary NatSteel Asia Pte Ltd (NatSteel Asia).
After a hiatus of over a year, the city police swung into action arresting a person, Alok Biyani, in connection with the multi-crore scam at the Calcutta Stock Exchange in March 2001.
Benchmark Sensex trimmed early gains to close marginally higher while Nifty settled flat in choppy trade on Tuesday as gains in auto shares were offset by selling pressure in banking and energy shares. The 30-share BSE barometer closed marginally up by 37.08 points or 0.06 per cent to 60,978.75 with 15 of its stocks ending in green and the rest in red. The index opened higher and gained over 300 points to a high of 61,266.06 in early trade.
Such listings will help internationalise our currency, give us economic heft, compel best in class regulations and further develop the professional-services ecosystem., says Amit Tandon.
Mercedes motorsport head Toto Wolff has sold his remaining stake in the Williams Formula One team to US shareholder and healthcare executive Brad Hollinger, both parties said on Wednesday.
Brokerages put sell notice on Vedanta shares over the company's move to buy Volcan Investments' stake in Anglo American via subsidiary Cairn India Holdings, reports Aditi Divekar.
In a statement just before leaving for the US, Modi said he will conclude his visit with an address at the United Nations General Assembly focusing on the pressing global challenges including the COVID-19 pandemic, the need to combat terrorism, climate change and other important issues.
RBI recently hiked LRS limit to $125,000 or Rs 7500,000 as on Aug 19 with $/rupee rate of 60
Understanding InvITs properly will enable investors to make an informed decision, says V K Bansal.
The majority of global equity trading and a significant proportion of trading in bonds, currencies, commodities and derivatives, is done on electronic platforms
The country's largest stock bourse NSE on Friday said it stuck to the primary site for carrying out trading on Wednesday and did not switch to the disaster recovery site after a considered view while dealing with telecom connectivity issues which led to the nearly four-hour halt in trading earlier this week. It can be noted that Sebi had asked the exchange, which also trades the highest derivative volumes in the world, as to why it did not switch to the Disaster Recovery (DR) site. "Post shut down of trading on NSE, we considered all the available alternatives on hand including invocation of DR to decide on the course of action that would bring up the market at the earliest with least disruption to market participants and post evaluation, a decision was taken to bring up the systems at the primary site," a statement from NSE said.
The top gainers on the Sensex are Gail(India), HDFC, Infosys.
Leslie's granddaughter Sonia Biden Francis, a Nagpur-based psychologist, said that 'Bidens in Nagpur and everywhere' are elated with Joe Biden's victory in the US presidential election.
Without factoring in the rupee-dollar exchange rate, the index has been touching new all-time highs repeatedly.
Shares of ING Vysya Bank and Kotak Mahindra Bank rallied by up to 6% on the BSE on reports that Kotak Mahindra Bank in final stages to buy the bank.
Dream rally: Investors' wealth doubled in 5 years in India's equity market on Friday.
Gadkari said the NHAI was working on setting up an InvIT to monetise its projects for mobilising resources through capital markets.
Sensex lost 76 points to end at 25,589 while Nifty shed 23 points to end at 7,649.
Prime Minister Narendra Modi arrived in Washington, DC, on Wednesday on an official visit to the United States during which he will hold the first face-to-face meeting with President Joe Biden and his deputy Kamala Harris, attend the maiden in-person Quad summit and address the 76th session of the United Nations General Assembly in New York.
They expressed concern on taxation issues, the high fiscal and current account deficits, and sought removal of capital gains tax.
News of all that's transpired on and off the football field
Better margins, lower interest outgo could see the company turn profitable in FY15.
The Essel Group on Monday rebutted news reports that it is setting up parallel cricket boards across different countries in collaboration with Ten Sports Network but said it is now geared up to enter the sports business at a global level, focusing on cricket.
The 3,357-kg satellite, which was deployed from the lower passenger position of Ariane-5 launch vehicle (VA 251) into the geostationary transfer orbit, is configured on ISRO's enhanced I-3K Bus structure to provide communication services from Geostationary orbit in C and Ku bands.
Nestl India is preparing a blueprint for a possible relaunch.
The main elements of the programme are bilateral meetings with the US leadership, participation in the Quad Leaders' Summit, address at the UN General Assembly and business interactions.
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Inflows cross $10-billion mark for 3rd consecutive year.
'Our competitiveness with China is very important.' 'If the exchange rate depreciates, it is good for us because it helps in our competitiveness.'
The Securities and Exchange Board of India is watching trends in the domestic stock market, after the capital market regulators in the United States, the United Kingdom and Australia imposed a temporary ban on short-selling of financial stocks.
These include increasing the public float in listed companies to 35 per cent from 25 per cent, increasing the minimum statutory limit for FPI investment in a firm from 24 per cent to the sectoral foreign investment, and lowering government holding in listed public sector undertakings.
Participants are keenly waiting for the January IIP.
Four new retailers from US, two from Germany may have shown interest in setting up shop in India.
12 images that show the odd, odd world we live in.
Top 5 losers include Infosys, TCS, ITC, M&M and HUL.
