Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on Monday said it will exit Numaligarh refinery in Assam by selling its entire stake to a consortium of Oil India Ltd and Engineers India Ltd for Rs 9,876 crore. The sale of Numaligarh Refinery Ltd clears the way for privatisation of India's second-largest fuel retailer. In keeping with the Assam Peace Accord, the government had decided to keep Numaligarh Refinery Ltd (NRL) in the public sector. As part of this, BPCL was to sell its entire 61.65 per cent stake to state-owned firms.
Only a few thousand chargers dot the Indian landscape, some in working condition, others not, with some held hostage to the power supply vagaries of local utilities, reports S Dinakar.
India is only on the starting block.
'They are geopolitical, commercial, educational, cultural and about innovation.' 'Also, they are about a common value system.'
The government will press ahead with the sale of public sector companies that have been approved by the Cabinet, Finance Minister Nirmala Sitharaman said on Thursday. Highlighting that FDI flow into India is much higher compared to other emerging economies, she said India's strong macroeconomic fundamentals, ability to do reforms and a stable government help attract long-term foreign funds into Indian businesses.
The Budget for 2016-17 has announced a massive rollout of ATMs and micro-ATMs.
This divisiveness is upsetting social cohesion and can throw the bright young people thronging to Bengaluru with billion dollar ideas in their creative minds off balance, warns Shekhar Gupta.
Fix India's real estate sector. Fix India's public sector banks, advises Tamal Bandyopadhyay.
US proposal to raise the global corporate tax rate to 28% from 21% might face resistance from countries unwilling to give up their edge and compete with America on its terms.
"The policy draft has been approved. The ministry has been renamed as education ministry," a senior HRD ministry official said. The existing NEP was framed in 1986 and revised in 1992. A new education policy was part of the Bharatiya Janata Party's manifesto ahead of the 2014 general election.
With Indian infrastructure companies burdened with debt, global PE funds and developers sense an opportunity to buy the airports cheap
The event played in one location over seven days in November could start next year, pending approval by the ITF Board.
'India-China economic ties are likely to take a hit in the wake of the new situation, but that also provides India with a new opportunity to strengthen its manufacturing base,' points out Dr Rajaram Panda.
The account turned bad before Chaudhari took over as SBI chairman and the asset was sold to AARC following an open bidding process, months after Chaudhari retired, explains Tamal Bandyopadhyay.
NSE's board was to approve on Friday the annual financial statement for the year ended March 31, 2019, but it decided to defer the matter till its legal team firmed up a view on Sebi's order, sources said.
Expressing his satisfaction over the government's move to slash fiscal deficit target, Das said it will help improve investment by the private sector as crowding out impact will be less.
The 28-year-old left-arm pacer made the surprise announcement in a video interview released by Pakistani website Khel-Shel.
'As the demand for transferable skills that can be remotely applied increases, the need for tech-based courses is on the rise/'
'The transmission sector is going to be the next sunrise industry.'
Amazon's fresh investment in its India entities come at a time when the Seattle-based firm has faced losses in several of its business entities in India, such as seller services, wholesale, transportation services and digital payments, for the 2018-19 financial year.
Work on a dozen decisions to start by next week.
The move comes after CBI gets sanction to prosecute him in Aircel-Maxis case
'Any future course of action towards active participation in the alliance when formed would need a lot of deliberation, long term vision and should be in our best national interests,' notes Commodore Vengalil Venugopal (retd).
He said the aim has been to create firewalls to deal with the cyber attacks and that the issue is being addressed in a "serious way".
The queries, sent in November, were mainly about Capital Investment Trust, which the I-T department said, was used for the purpose of transferring foreign funds comprising global depository receipts (GDRs) of the value of $400 million to two Indian entities - Reliance Utilities & Power (RUPL) and Reliance Port & Terminal (RPTL), owned by the Ambani family. A show-cause notice issued on March 29 to Ambani's wife Nita, and their three children.
The government was planning to come up with a new fiscal model giving 'special incentives' for fields that were given out on nomination to ONGC and Oil India, reports Shine Jacob.
Sebi reforms to foreign investment were overdue, these changes are likely to have positive effects in the long run.
'The pandemic ends only when 70 per cent of the world is vaccinated with two doses.'
A final decision is expected by March based on the hosting and COVID-19 contingency proposals received from bidders.
The April 2 Supreme Court order quashing the February 12, 2018 RBI circular (which ended all debt recast plans even on a one-day default) put paid to the resolution plan as banks were left with no leeway to restructure the loan and pay the promised Rs 1,500 crore interim funds.
Ajay Piramal bets highly on infrastructure, realty
The levy of retrospective tax on the UK's Cairn Energy Plc is a tale of bizarre twists and turns that saw its attached shares being sold in May 2018 amid the passing of the baton from a full-time finance minister to interim one and the talks at the highest level to resolve the dispute, to claims that levy of back taxes was a result of an investigation into Panama Papers leak. The government late last month refunded about Rs 7,900 crore it had collected from selling residual shares of the British firm in its erstwhile India unit, seizing dividend and withholding tax refunds, to settle an eight-year-old dispute that had tarred the country's reputation as an investment destination. But, this did not come about easily. For seven years, the establishment vehemently justified in courts and outside seeking of Rs 10,247 crore in back taxes plus interest and penalty from a firm that gave India its biggest onshore oil discovery.
The FT report said the existence, size and investments of the highly profitable internal trading fund, which was set up three decades ago, have until now remained largely unknown outside a circle of former and current insiders.
A majority of the companies said the law, aimed at jobs with a monthly salary cap of Rs 50,000, will result in them leaving Haryana or growing their operations in other states and abroad.
Biden said that 100 days since he took the oath of office on January 20 and inherited the worst pandemic in a century and the worst economic crisis in a decade, America is on the move again, turning peril into possibility, crisis into opportunity and setback into strength.
In a first for India, bullion derivatives contracts will be settled on a blockchain platform. This will help in global acceptance of gold refined by Indian bullion refineries, giving a fillip to the local industry, exports, as well as investments. From November 1, the National Stock Exchange (NSE) will accept gold delivery only on the blockchain platform.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
Amazon's single largest building is also the single largest building in Hyderabad city. Spread over 9.5 acres, this multi-storied building comprises of 290 conference rooms, casual and collaborative work spaces that will house 15,000 employees, along with private areas, interfaith prayer rooms, mothers room, quiet rooms, showers, unisex rest rooms and a huge cafeteria besides a helipad on the building roof.
Coming from a family that has a 140-year history of growing coffee, Siddhartha, 59, initially dabbled in stock trading and wanted to work as an investment banker in Mumbai after completing his Master's in Economics from Mangalore University.
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