Why are DIIs holding such a high stake in Zee, which is beset with alleged governance issues? Perhaps they think Zee is a deep-value stock, observes Debashis Basu.
The government on Friday approved the acquisition of drug company Ranbaxy Laboratories by Japanese pharma major Daiichi Sankyo envisaging foreign investment of around Rs 21,500 crore (Rs 215 billion).
After withdrawing the personal data protection bill, the government is hopeful of getting a new legislation passed by the next Budget session of Parliament, Union minister Ashwini Vaishnaw has said. The government on Wednesday withdrew the Personal Data Protection Bill from the Lok Sabha. The Joint Committee on Personal Data Protection Bill, 2019, headed by BJP member P P Chaudhary, had tabled its report in Lok Sabha on December 16, 2021.
After withdrawing the personal data protection bill, the government is hopeful of getting a new legislation passed by the next Budget session of Parliament, Union Minister Ashwini Vaishnaw has said.
The Delhi high court on Tuesday dismissed a PIL seeking to make Indian citizenship a pre-requisite for a person to be appointed as the editor of a publication.
The new rules for foreign investment issued by the Cabinet committee on economic affairs have two specific problems. Both lie in the new provision that any company which has an Indian majority shareholding and Indian control will be treated as an Indian company.
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The report comes at a time when the government is trying to clear pending FDI proposals, which include various planned investments in this sector.
The funds, some of which have invested in the NSE for almost a decade, want the exchange to list as soon as possible so that they can exit and pay back investors in their funds
Chidambaram's son Karti has been questioned twice by the ED in this case.
Special Judge O P Saini issued notice to the agency and sought its response by October 8.
Among other things, taking note of complaints against several Chinese e-commerce players such as Shein, Ali Express etc for sending shipments as 'gifts' to customers in India and avoiding duties, the government has now mandated that all e-commerce sites and apps must have a registered business entity. This will be the importer on record and subject to customs rules, report Subhayan Chakraborty, Neha Alawadhi and Karan Choudhury.
India's total value of defence production breached Rs 1 trillion-mark in the fiscal year 2022-23 (FY23), up 12 per cent year-on-year (YoY). At the bourses, this has been well reflected in related-stocks from the sector as they gained considerable ground during this period. Shares of Hindustan Aeronautics (HAL), Mazagon Dock Shipbuilders, MTAR Technologies, Bharat Electronics (BEL), and Bharat Dynamics (BDL) have skyrocketed up to 160 per cent in a year, as against a 14 per cent jump in the S&P BSE Sensex.
Opening another line of inquiry into the Hutch-Essar shareholding structure, the Foreign Investment Promotion Board (FIPB) is looking into the call options that would together give Vodafone a further 15.03 per cent proportionate indirect equity owner
While the whole world is using good words to describe India, its main opposition leader is claiming on foreign soil that the country has been destroyed and democracy is no longer there while the judiciary and the media are in a bad shape, BJP spokesperson Sambit Patra told reporters.
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
TikTok has stressed that its US user data is already stored on US-based servers and backed up in Singapore, and is therefore not subject to Chinese law as some US officials have feared.
The much-delayed Insurance Bill seeks to raise the foreign investment cap in the sector from 26 per cent to 49 per cent, with a rider that the management control rests in the hands of Indian promoter.
The landmark bill to liberalise the insurance industry, which marks Prime Minister Narendra Modi's first stab at legislative reforms, will now go to a parliamentary committee, which will submit a report later this year.
The Foreign Investment Promotion Board (FIPB) on Monday deferred a decision on Vodafone's Rs 10,141 crore (Rs 101.41 billion) proposal to buy out minority shareholders in its Indian arm as the Ministry of Home Affairs is yet to give its comments.
The Department of Telecom, Department of Industrial Policy and Promotion, Ministry of Home Affairs, Ministry of External Affairs and the Department of Economic Affairs had to give their comments on the proposal, sources said.
Tatas-controlled Videsh Sanchar Nigam Ltd on Wednesday got clearance from a US government agency for acquisition of undersea cable assets of Tyco Global Network (TGN) for $130 million.
The Securities and Exchange Board of India (Sebi) has proposed stricter disclosure norms for certain foreign portfolio investors (FPIs) to bring in more transparency and trust against the backdrop of the Adani-Hindenburg Research saga. Under the new norms, FPIs with an exposure of more than 50 per cent to a single group or with assets of over Rs 25,000 crore will be tagged as 'high risk' and will be required to provide additional information such as full identification of their ownership, economic interests, and control rights. A failure to provide these disclosures will lead to invalidation of the FPI registration.
'We will likely never know why Xi decided not to travel to New Delhi. One possible explanation could be his desire to avoid a meeting with US President Joe Biden.'
The estimated cost of the project is around Rs 1,642 crore.
A Parliamentary Committee on Wednesday recommended a composite foreign investment cap of 49 per cent in the insurance sector and supported a government Bill to amend the Act.
Macroeconomic data announcements, the Covid situation in China and global market cues would guide Dalal Street in the first week of trading in the New Year, analysts said. Markets would also keep a track on rupee movement, Brent crude oil prices and foreign fund investment trends. "As market players attempt to understand the Fed's stance, Indian markets may respond in lockstep with their international counterparts when the Federal Open Market Committee (FOMC) minutes are made public later this week.
As the United States focuses on the Indo-Pacific, in particular the Quad, the Biden administration needs to address India's ties with Russia and its 'downward trend of democratic values and institutions', said a report by the Democratic Party of the Senate Foreign Affairs Committee.
Naresh Goyal-led Jet has also changed the shareholders agreement and amended the investment agreement and the articles of association, as suggested by the Foreign Investment Promotion Board, headed by DEA Secretary Arvind Mayaram, official sources said.
More than a dozen entities, both domestic and foreign, had come under the regulatory glare over alleged short-selling before and after the publication of the Hindenburg research report against Adani Group, two people familiar with the development said. The Securities and Exchange Board of India (Sebi), which is examining the rise in stock values of Adani Group in the past few years, is also scrutinising the trade data and trade pattern of these entities allegedly involved in short-selling and made significant profit. Enquiries in the trade pattern of these entities reflected a profit of over Rs 30,000 crore, pre- and post-Hindenburg saga, said one of the two people.
While the FIPB has sought more transparency on whether the rules concerning effective control would be followed once the deal fructifies, the Finance Ministry has also written to Sebi for a report on the Jet-Etihad deal, official sources said Wednesday.
'At the heart of the strategic relationship between our countries are economic ties.'
The Sena faction alleged corruption cases against BJP leaders are being suppressed.
MCX has been struggling to raise funds with a rights issue, ending on Thursday.
Global consultant AT Kearney warned that Indian banks and insurance companies may have to infuse more capital to adhere to the new international standard being drawn up by the Basle Committee.
Some developers point out that what comes in the way of low-cost housing is the sky-high price of land
The agreement between the two has a long stop date clause, stipulating that all approvals be secured by then.
India has been ranked as the most attractive investment destination in the world for the next three years.
Currently, the select committee is considering the Bill.
The China-brokered deal between Iran and Saudi Arabia to revive diplomatic ties should not be a matter of concern for India as the pact would provide regional stability and would be beneficial for New Delhi's interests as well, Iranian ambassador Iraj Elahi said on Friday.
