In an unexpected move, the government has terminated services of K V Subramanian as the executive director at the International Monetary Fund (IMF) six months ahead of his three-year tenure. The move comes days before the IMF executive board is to consider financial aid for debt-ridden Pakistan.
Motorola's long-pending proposal to undertake wholesale marketing, cash and carry stocking and sale of goods has been cleared by the Foreign Investment Promotion Board, the company said in a statement on Friday.\n\n\n\n
DaimlerChrysler plans to buy 26% of the bus body builder Sutlej Motors. The two companies will then jointly manufacture buses for the Indian roads.
The exemption of individual life and health insurance premiums from the Goods and Services Tax (GST) enables the insurance industry to make products affordable and attractive, said Ajay Seth, chairman of Insurance Regulatory and Development Authority of India (Irdai) at the Business Standard BFSI Insight Summit 2025.
Global public relations Burson Marsteller on Monday acquired Genesis Public Relations one of India's leading PR firms for an undisclosed sum.
Finance ministry is understood to have reservations on the ownership of minority stakeholders in Hutchison-Essar and is likely to raise the issue at the FIPB meeting.
Hutchinson Max Telecom Pvt Ltd is planning to consolidate its various telecom operations in India under a single entity, including that of Hutchison Essar Telecom Ltd and Fascel Ltd, for which the company has filed an application with FIPB.
A Delhi court on Saturday took cognisance of the chargesheets filed by the Central Bureau of Investigation and the Enforcement Directorate against former Union minister P Chidambaram and his son Karti in the Aircel-Maxis case and summoned them on December 20.
With response tepid so far from domestic investors, these funds might soon approach FIPB for approvals.
The Foreign Investment Promotion Board is believed to have cleared the proposal of the Netherlands-based Star Diamond group to set up a joint venture in India to undertake diamond business.
In a bid to ease compliance towards companies planning public offers (IPOs), the Securities and Exchange Board of India (Sebi) has notified norms that open more avenues to meet the minimum promoters' contribution (MPC). The market regulator has permitted promoter group entities and non-individual shareholders to contribute to the mandated promoters' contribution in the case of a shortfall without being identified as a promoter.
The government is likely to give yet another week's reprieve from July 10 to the Star Group allowing its 24-hour news channel to continue operations in the present format.
Coca-Cola's proposal for giving its shareholders differential voting rights after it recently completed divestment of 49 per cent equity in favour of resident Indians is still pending with the government, company sources confirmed on Thursday.
Chidambaram clears holding company for insurance & mutual fund subject to RBI clearance.
FDI into the country increased by 30 per cent to $21.62 billion during April-September this fiscal.
The proposal was cleared by FIPB at its meeting on March 30, 2005.\n\n
Government on Wednesday cleared 29 FDI proposals worth Rs 147 crore (Rs 1.47 billion), including those of Hong Kong-based IBM Products and cosmetics major Nivea.
