In a major consolidation in the domestic IT industry, MindTree, a listed IT services company, will acquire Aztecsoft, another listed outsourcing product development firm. MindTree, which has bought four companies in the last eight years, will acquire 32.57 per cent stake in Aztecsoft from e4e Holdings, Mauritius, in an all cash deal for around Rs 117 crore (Rs 1.17 billion).
Last year, the London-headquartered bank had bought a 49 per cent stake in UTI Securities from the Securities Trading Corporation of India for Rs 147 crore. The bank retains the option to raise the stake to 74 per cent this year and the remaining shares by 2010.
The government on Wednesday approved ten foreign direct investment proposals with a total inflow of Rs 2,339 crore (Rs 23.39 billion), including investment banker Morgan Stanley's plan to pump in Rs 1,894 crore (Rs 18.94 billion) in the country.
Hyderabad-based ICSA (India) is divesting 14 per cent of its stake to Citigroup Venture Capital International Growth Partnership Mauritius for $30 million
Several airlines in Vancouver are planning to operate to more Indian destinations, subject to bilateral air traffic rights and their respective fleet strengths.
The largest private sector lender is also looking to open a full-fledged branch in China, where it already has a representative office, managing director and CEO, Chanda Kochhar said during the bank's 19th annual general meeting in Vadodara.
Prime Minister's Office wants CBI and tax dept to identify the actual beneficiaries of the transactions made in India and abroad.
These investments from strategic international partners would provide Indian commodity markets and MCX access to global know how and technology making them more efficient, competitive and transparent institutions globally.
India's incredible hospitality and heritage has attracted global attention with the country's leading hotel chain, Oberoi Hotels and Resorts grabbing a position among the world's top 10, according to a latest survey.
The Indian companies, however, invested a much lower $1.59 billion in overseas markets in the previous month May 2014.
SP leader Naresh Agrawal alleged that the government was 'deliberately sitting' over the names that have come to light in the leaked documents from the files of law firm Mossack Fonseca, based in the tax haven of Panama.
In January 2014, the country had received $2.18 billion FDI.
I can't see what purpose can be served by an apology by a British government that cannot in any way be blamed for one sadistic man running amok 100 years ago, argues Sunanda K Datta-Ray.
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Overall foreign inflows into the country grew by 8 per cent to $ 24.29 in the last fiscal as against $ 22.42 billion in 2012-13.
This Diwali, Rakesh Mehta, a senior sales and marketing employee with an IT firm, will celebrate in Australia with his family. Mehta, is one of the top performers of his company and has been rewarded with this 'Diwali Gift'. Other top performers from his company will celebrate their Diwali in New Zealand and Mauritius. In fact, a lot of IT, BPO, pharma companies and banks are rewarding their employees for good performance by sending them to exotic locations.
A senior NIA official claimed that one of the four terrorists involved in the attack on the army camp in Handwara managed to flee.
On the eighth day of CWG 2018, the 22-year-old from Hyderabad made everything look so easy as she clinched a comfortable 21-15, 21-9 win over Wendy Chen in a one-sided last-16 clash of the women's singles event that lasted 34 minutes at the Carrara Sports Arena.
Bids for the issue, which opens on January 23 and closes on January 25, can be made for a minimum of 18 shares and in multiples of 18 thereafter.
The shares - close to 30% of the total holding - are expected to list on rival National Stock Exchange on or around February 3.
Five years on, US company that won the auction for the aircraft is running pillar-to-post, unable to take possession as DGCA hasn't deregistered the jet
The income tax (I-T) department in Mumbai has requested Vodafone to make an application to the assessing officer for determining the exact tax liability resulting from buying out 62 per cent equity stake from Hutchison in Hutchison Essar Ltd.
Declining urgent hearing, the top court observed that judges have more cases 'than they can handle'.
'... not even a moral one, let alone a legal one.' 'Even if it is assumed that Deepak Kochhar tried to influence his wife into doing something dodgy for his 'social acquaintance', why would she do it?' 'By all accounts she has been granted share options in ICICI Bank of a very substantial amount which easily makes her a multi billion-pati.' 'She did not become CEO against some stiff competition by being stupid and concocting devious cock-and-bull renewable energy stories.' S Murlidharan, former managing director, BNP Paribas, unravels the Deepak Kochhar-Videocon controversy.
The country's largest marketer of petroleum products is facing troubles in Sri Lanka, one of the two overseas markets where it sells fuel through its fully owned subsidiary, Lanka IOC. The other country is Mauritius.
The Pride Group of Hotels will float an initial public offering in the first quarter of 2008 to part-fund its expansion plans of Rs 340 crore.
The top posts on social media from your favourite Bollywood celebrities.
Amongst the top 10 sectors, telecom received the maximum FDI of $2.47 billion
The government on Thursday gave its nod to a foreign direct investment of $150 million (Rs 675 crore) in Maran family-run Sun TV's ambitious direct to home service project.
Packaging major Essel Propack Ltd has entered into a share purchase agreement for acquiring 85 per cent stake in US-based Tacpro Inc and Avalon Medical Services Pte Ltd, Singapore.\n
US-based Mylan Laboratories Inc has acquired around 51.5 per cent stake in pharmaceutical company Matrix Laboratories for Rs 306 per share.
Stating that English, Chinese and Hindi will rule the digital world in the coming days, Prime Minister Narendra Modi on Thursday noted that the language market was huge and companies can cash in on it by developing apps at the earliest.
Future World Cup hosts South Africa fielded 10 new caps as they edged past Malawi 5-4 on penalties in their Cosafa Castle Cup Group B semi-final at Swaziland's Somhlolo stadium.
Overseas direct investment by Indian companies fell by over 53 per cent year-on-year to $1.16 billion in July 2014, as per RBI data.
British Virgin Islands, Mozambique, the Netherlands, Mauritius and Singapore were the top five nations where Indian firms made investment of $9.6 billion in the last three years.
HSBC has acquired the stake from E*Trade Mauritius ( 43.85 per cent) and an additional 29.36 per cent stake from IL&FS. In addition, HSBC has paid a non- compete fee of Rs 82.45 crore ($19.4 million) for a three-year period to IL&FS.
Focussing its attention on technology and, research and development based outsourcing, HCL BPO will open an offshoring centre in Pondicherry in 2006
Sitaram Yechury, politburo member of CPM, on Friday warned the government against market volatility and FII activity.
The funds officially held by Indians with banks in Switzerland now accounts for only 0.07 per cent of the total funds kept by all foreign clients in the Swiss banking system.
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