Courts in five countries including the US and the UK have given recognition to an arbitration award that asked India to return $1.4 billion to Cairn Energy plc - a step that now opens the possibility of the British firm seizing Indian assets in those countries if New Delhi does not pay, sources said. Cairn Energy had moved courts in nine countries to enforce its $1.4 billion arbitral award against India, which the company won after a dispute with the country's revenue authority over a retroactively applied capital gains tax. Of these, the December 21 award from a three-member tribunal at the Permanent Court of Arbitration in the Netherlands has been recognised and confirmed by courts in the US, the UK, Netherlands, Canada and France, three people with knowledge of the matter said.
NITI Aayog had been asking for Rs 7,500 crore for three years to set up an AI framework.
Subramanian was the Dennis Weatherstone Senior Fellow at the Peterson Institute for International Economics and Senior Fellow at the Centre for Global Development in the US before joining the ministry.
Major institutes see rise in summer placements; consulting, BFSI, e-commerce firms are top recruiters, says Vinay Umarji.
Jaitley, 66, has become 'very weak' as his health has deteriorated over the past few weeks, sources said, adding that he has developed some throat condition as well that prevents him from speaking for long.
With this, multilateral lenders like the International Monetary Fund, the World Bank and the European Union may continue downgrading Pakistan, making its financial situation more precarious.
Rahul Gandhi's constituency gets paper mill.
A senior company executive said the company waited for seven years for the verdict and its shareholders needed to know when it would be concluded.
The RBI has shelved its plan for polymer notes more than a decade after it invited interest from global manufacturers for one billion pieces of Rs 10 denomination polymer banknotes, reveals Tamal Bandyopadhyay.
Defence Minister Rajnath Singh on Tuesday unveiled a new version of the procurement manual of the premier military research institute Defence Research and Development Organisation featuring simplified procedures for the involvement of the private sector in various research and development projects.
According to the finance minister, India was compliant with most of the internationally accepted standards in banking, securities markets and insurance sector.
Reliance Industries Ltd (RIL) was the star performer in Friday's session, spurting over 6 per cent to its all-time high, Other Sensex gainers included Bajaj Finance, PowerGrid, ICICI Bank, Maruti, Axis Bank and SBI. On the other hand, IndusInd Bank, HCL Tech, ITC, M&M HDFC and Infosys shed up to 2.94 per cent.
Finance Minister Pranab Mukherjee on Tuesday congratulated French Finance Minister Christine Lagarde on her appointment as the new Managing Director of the International Monetary Fund.
Indian economist Kalpana Kochhar, who heads the Human Resources Department of the International Monetary Fund, is leaving the organisation to join the Bill and Melinda Gates Foundation, the IMF announced on Wednesday. Kochhar, who served in various senior positions during her three decades at the IMF, will retire on July 30, it said.
Investor sentiment got a big push after Brent crude, the international benchmark, dropped below the $73-mark to quote at a seven-month low of $72.65
The maximum number of banks are from the US (74), followed by China (29) and South Korea (26).
The Institute of Management Technology, Ghaziabad opens admissions to its PhD course for 2008.
Finance Minister Arun Jaitley on his maiden visit as minister to Washington, DC, addresses two think thanks, leaves American Establishment impressed, reports Aziz Haniffa/Rediff.com.
According to the sources, there are limited prospects of J&J exporting its vaccine from the US to other countries in the near future and the "entire production" at the BE facilities in India, beginning July/August, will be handed over to the pharma giant under a contract between the companies.
'Zero Day' visitors like Maruti Suzuki, TVS, Tata Motors, Hero MotoCorp, Ashok Leyland and Bajaj Electricals are visiting fewer campuses.
The Centre is likely to cut budgetary support to the railways by around Rs 5,000-10,000 crore for 2018-19, out of the total budgeted GBS of Rs 53,060 crore. Due to this cut in GBS, the railways is likely to depend more on borrowings, asset monetisation, and internal generation to meet the capex target of Rs 1.465 trillion for the current year.
Stressing the deal is underway, Chidambaram said India has not yet resolved the price of the gas.
The sale will be quicker if an Indian private bank buys it; it will take longer for regulatory clearances if a foreign bank or an NBFC buys it, points out Tamal Bandyopadhyay.
Amazon provided mere "lip service" and failed to provide any help to the debt-laden Future Group as the retail major suffered massive setback amid the COVID-induced lockdown and faced possible insolvency or debt restructuring, Future Group's promoters said in a letter to the e-commerce giant. This is the first time Future Group promoters have written to Amazon after the parties were embroiled in a legal battle over the sale of Future's retail assets to Reliance Industries. The letter from the promoters, including Kishore Biyani, was written on December 31. It alleged that Amazon's actions "lacked good faith" during the March to August period, when the group's retail business was severely hit by the lockdown.
After a secret voting by the 24 members of IMFC last Friday, India, Italy and Canada were the only countries that remained in contention for the position, which was traditionally headed by Europe.
In an interview Credit Information Bureau of India's managing director Arun Thukral speaks about how CIBIL is fast becoming a consumer centric institution.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
India lost around 38.5 thousand hectares of tropical forest in the last decade. Nearly 14 per cent of the country's tree cover! It is one thing for Modi to announce that India will reach a net-zero level of emissions in 2070. But if it is serious, it needs to start today, points out Ramesh Menon.
The National Institute of Business Management announces admissions to its MBA course through distance learning (2 years).
Attorney General K K Venugopal, appearing for the Centre, said that 'Khalistanis' have infiltrated the protest and he will file an affidavit along with the necessary inputs of the intelligence bureau (IB).
'In the short term, we may see some disruptions due to Covid, but in the medium-to-long term, we should keep an eye on US inflation and 10-year bond yields.'
Norms for e-commerce likely, arm's-length pricing set for change.
A total of 11 international banks have publicly distanced themselves from the project.
Chief Minister MK Stalin has shown that he is cut from a different cloth when it comes to embracing what is current, modern and absolutely necessary. Thus, even while retaining the spirit and content of the pan-Tamil, Dravidian socio-political and socio-economic ideology to the 't', his government has also acknowledged the need to accepting scientifically-proven facts in operational matters, says N Sathiya Moorthy.
The highlight of the first BRICS Summit on the African soil is the possible setting up of a development bank for undertaking infrastructure and development projects.
For financial sector companies setting up shop in India, as of now the go-to regulators are obviously Sebi and the RBI with carve-outs for IRDAI or possibly PFRDA. But this could change soon with the International Financial Services Centres Authority, observes Subhomoy Bhattacharjee.
...and getting GDP to measure India's data economy, recommends Ajit Balakrishnan.
Vajpayee had always felt that India must act with conviction and panache. He decided that, irrespective of the attendant risks, he would undertake what many felt was a precarious course. A fascinating excerpt from N K Singh's Portraits Of Power: Half A Century Of Being At Ringside on Atalji's 96th birthday, December 25.
Good intentions and elaborate roadmaps apart, there is an urgent need for the Tamil Nadu chief minister to come up with branded schemes like MGR's meal scheme, asserts N Sathiya Moorthy.
Businesses that either take local communities for granted or see them as an obstacle to be 'managed' are skating on thin ice.
