India deserves a rating upgrade in view of improvement in macro-economic situation, the conservative outlook of Standard & Poor's notwithstanding, Finance Minister P Chidambaram said.
Portfolio management services (PMS), catering to higher networth individuals (HNIs), are facing tough competition from emerging alternative investment funds (AIFs), evident from their dwindling client base. In May, the number of clients for the industry stood at 125,390, down 20,528 in two months, shows data from the Securities and Exchange Board of India (Sebi). "PMS managers also have a high active ratio, which means their portfolios are quite differently positioned and more actively managed, compared to the benchmark, which is also a highlight for long-term investors.
Narendra Modi is India's most successful prime minister and the greatest global leader of current generation, billionaire Mukesh Ambani said on Wednesday as he flaunted his group Reliance Industries' Gujarati heritage and its over USD 150 billion (Rs 12 lakh crore) investment in last 10 years.
CIL is charged of discriminating in favour of public sector firms in the reworked format of fuel supply agreements.
Tightening the norms, the government has done away with automatic approval of foreign direct investment (FDI) in the existing pharmaceutical companies.
The CCI in an order dated February 26 approved Diageo's proposed majority stake purchase in Mallya-led United Spirits, saying the deal would not have adverse impact on competition.
Between 2011 and 2014, they indirectly determined the price of tyres in the market, says report
A new "unreturnable" spin-serve had caught the attention of the world's top badminton players with even the Indian doubles shuttlers putting in the hard yards to master this latest skill, which many believe can give "unfair" advantage to the players.
A surge in taxi fares earlier led Maharashtra govt to set up committee to recommend prices for these players
Dutch brewing major Heineken on Wednesday said it has acquired an additional 14.98 per cent stake in United Breweries Ltd, taking its total shareholding to 61.50 per cent. "Heineken N.V. today (on Wednesday) announces that it has acquired an additional 39,644,346 ordinary shares in United Breweries Ltd (UBL) taking its shareholding in UBL from 46.5 per cent to 61.5 per cent," Heineken said in a statement. UBL, with its flagship brand 'Kingfisher', is the leading player in the beer market in India.
The National Company Law Appellate Tribunal (NCLAT) on Monday adjourned till February 25, the hearing on the plea of e-commerce major Amazon, seeking an interim stay over the order passed by fair trade regulator CCI, which suspended the over-two-year-old approval for its deal with Future Coupons Pvt Ltd (FCPL). When the matter was called for hearing, a two-member bench expressed its difficulties to take up the matter on Monday, as one of the members is retiring in the next four days, after completing his tenure. In this matter, NCLAT would also have to hear other parties such as fair trade regulator CCI, before passing an order and it would take some more time and then the retiring member would not be a part of the bench.
The offer is to close on April 26 and the price is fixed at Rs 1,440 a share.
The govt is not keen to fill the vacancies as it will be replaced by the CCI. Officials say the government is not keen to fill the vacancies as the body will be replaced by the CCI. However, even after CCI is notified, the MRTPC will function for two more years to clear the cases it is hanling at present. The MRTPC is still taking fresh cases.
Tata group-owned AirAsia India's inability to get approval for international flights is hurting UDAN, the Indian government's regional air connectivity project that also aims to link cities in Northeast India and Odisha to places abroad. Sources said the civil aviation ministry is waiting for the low-cost airline to come under the full ownership of Tata Sons and become part of Air India, the former state-owned carrier now owned by the private conglomerate, before allowing it to operate international flights. Tata owns 84 per cent stake in AirAsia India and it is understood that the group will complete the process of buying rest of the stake by July's end.
The 7th CPC places the Indian Police Service (and, almost in passing, the Indian Forest Service) on a level with the Indian Administrative Service, leaving the military out in the cold.
"Reaching an international agreement on how large digital companies are taxed has been a priority for the chancellor since he took office," said a spokesperson for his UK treasury office. "The chancellor's consistent position has been that it matters where tax is paid, and any agreement must ensure digital businesses pay tax in the UK that reflects their economic activities. That is what our taxpayers would expect and is the right thing," the spokesperson said.
The buy/sale agreement between the two parties is back in focus.
Some regulators are already unleashing their own algorithms to track and understand pricing software of e-commerce companies. While companies collude on pricing, governments are collaborating on curbing online malpractices. The legal liability of an algorithmic decision will be interpreted as legal liability of an entity of an individual. Anti-trust activities of algorithms will not go unchallenged in any economy.
In a bid to assuage corporate India's fears over key aspects of the Competition Act, 2007, the Competition Commission of India has decided to ensure that 90 per cent merger and acquisition proposals put up for its approval are cleared within 60 days. The present timeline is 210 days.
His film Vishwaroopam is now likely to release on January 18.
Future Retail and its promoters have filed appeals before the division bench of the Delhi high court challenging the order passed on Tuesday that dismissed the Group's petitions for termination of the Amazon arbitration. The Delhi high court on Tuesday dismissed the pleas moved by Future Group companies seeking a direction to the arbitration tribunal, adjudicating Amazon's objections against Future Group's deal with Reliance, to take a decision on their application for terminating the arbitration proceedings before moving any further.
As many as 230 persons, including ex-Finance Secretary Ashok Chawla, former Corporate Affairs Secretary R Bandyopadhyay and other senior bureaucrats and eminent economists have lined up for the two high profile jobs at the country's anti-monopoly watchdog, Competition Commission of India (CCI).
Reliance Industries Ltd on Friday reported a 9 per cent rise in its December quarter net profit as a planned maintenance-induced weakness in oil business earnings was offset by stability in retail and telecom verticals. The oil-to-retail-to-telecom conglomerate's consolidated net profit of Rs 17,265 crore, or Rs 25.52 per share, in October-December - the third quarter of the current 2023-24 fiscal - was 9.3 per cent higher than Rs 15,792 crore, or Rs 23.19 a share, earning a year back, according to a company statement. Quarter-on-quarter, the profit was lower when compared to Rs 17,394 crore earnings in the preceding three months ended September 30.
Competition Commission of India is considering amnesty plan to bust cartels.
Last year, Tech Mahindra and Mahindra Satyam announced their intention to merge aming to create a $2.4 billion entity.
The year 2015 will be a tough year for mergers and acquisition.
Maharashtra cabinet minister Chhagan Bhujbal has demanded a stay on the Kunbi caste certificates issued to Marathas following their latest agitation for reservation and scrapping of the Justice (retired) Sandeep Shinde committee formed over the quota issue.
Domestic institutional shareholders, who together hold around 39 per cent stake in the National Stock Exchange, are unhappy with the exchange's strategy of not charging transaction fees in the currency derivative segment.
As per the Competition Act, no merger should create entry barriers for competition.
Any move of the present government to appease the Marathas may boomerang. Eknath Shinde is a worried man with the agitation not having an easy solution, notes Ramesh Menon.
How dominant are Chinese firms in India's sub-Rs 10,000 mobile device market? The question has become relevant as the government has been thinking of reserving this price segment for domestic players who have not been able to battle the Chinese onslaught. However, telecom firms and others are concerned that such a move could stymie the effort to build affordable 5G phones in the sub-Rs 10,000 category.
The investigation wing of the Competition Commission of India (CCI) has cleared nine foreign airlines of cartelisation and abuse of dominant position charges, pressed by the Travel Agents Association of India (TAAI).
Are the big five using their dominance to shut out rivals? That is the key question, says Prosenjit Datta.
New regime less harsh than the draft guidelines, has a host of exemptions.
Future Retail has shut most of its Big Bazaar stores since February 25 (Friday) and its website is also down as it missed lease payments to Reliance Industries (RIL). RIL will open most of the 200 Future Retail stores as Reliance stores in the next week and it is in the process of taking stock, re-branding, and transferring 30,000 Future Retail and Future Lifestyle employees on to the rolls of its manpower and staffing firm Reliance SMSL, according to a source. The first tranche of stores are set to be opened as early as in the next two days.
The Competition Commission of India has notified Sections 5 and 6 of the Competition Commission Act, 2002, dealing with mergers and acquisition last month, but it is yet to finalise the rules.
Kerala's election discourse operates surreptitiously. Its explicit face focuses on important national and local issues. At the same time, it seeks to secure apt communal equations to ensure votes, notes Shyam G Menon.
Reversing the burden of evidence means that the principle of innocent until proven guilty does not apply. It is exactly the opposite: Guilty as charged, until you can convince the judges of the contrary, points out Shekhar Gupta.
