The government may soon give the green light to bilateral trade between Russia and India in their national currencies to avoid any trade disruptions, multiple people aware of the matter said. While the Department of Commerce has recommended the proposal, an announcement is likely to be made by the finance ministry after further deliberations between the Department of Economic Affairs and Department of Financial Services. "The finance ministry will take a call on how to peg the two currencies," a senior government official told Business Standard. In the past, the two nations have had rupee-rouble trade, and when such an arrangement is implemented again, it will bypass the sanctions imposed on Russia by the West.
The main sectors that receive the maximum foreign inflows include services, computer software and hardware, telecommunications, trading, construction, automobile, and power.
Sectors which attracted maximum foreign inflows during April-June 2019-20 include services (USD 2.8 billion), computer software and hardware (USD 2.24 billion), telecommunications (USD 4.22 billion), and trading (USD 1.13 billion), the commerce and industry ministry data showed.
SBI's Bhattacharya is ranked second on the list, while ICICI's Kochhar is 5th and Axis's Sharma is 19th in the Fortune list
The incident, which Australian captain Steve Smith said involved senior players hatching a plan to tamper with the ball during a game against rival South Africa, also threatens to upset current negotiations over broadcast rights.
Financials were the top gainers lead by private lenders ICICI Bank and HDFC Bank
Bharti Airtel and five other telecom companies will lay the US-Asia undersea cable, with an estimated cost of $300 million.
A series of steps taken by the government to promote ease of doing business and liberalisation of foreign direct investment norms have helped India receive record FDI inflows so far this year, and implementation of measures like PM Gati Shakti, single window clearance and GIS-mapped land bank are expected to further push investments in 2022. Notwithstanding the global slowdown and the COVID-19 pandemic, total foreign direct investments into India rose to a record $81.72 billion in 2020-21. During April-July this fiscal, FDI (foreign direct investment) into the country increased by 62 per cent to $27.37 billion.
Says action taken following Supreme Court order, not because of government decision
Non-resident Indians are investing in well-established small and medium enterprises in India
The US FOMC concludes its two-day meeting today while the Bank of Japan will start its two-day meeting today.
"CCP's (Chinese Communist Party) territorial aggression is also apparent on its Indian border where China has attempted to seize control of the Line of Actual Control by force," US National Security Advisor Robert O'Brien said in a remark on China early this week in Utah.
In 2012, India attracted $22.78 billion of FDI, according to the data by Department of Industrial Policy and Promotion.
DoT said SingTel was selling the full-circuit IPLC links to customers directly and also invoicing the customers in India without having a licence.
Flag Telecom was looking at divesting up to 20 per cent of its equity stake through an international convertible bond issue and raise over $200 million.
The ministry of home affairs has received more than 20 proposals for foreign direct investment (FDI), including from China and Hong Kong, requiring security clearance between April and May. 'We are vetting some of these proposals which have come from various sectors. One of the applications is from a well known start-up,' an official said. 'We await inputs from Research and Analysis Wing, intelligence agencies, external affairs ministry, and embassies.'
Faced with prospect of its assets across the globe being seized just like Pakistan and Venezuela, the government decided to scrap retrospective taxation but the international embarrassment could have been avoided had 'attached' shares of Britain's Cairn Energy Plc not been sold, according to tax and legal experts. On Thursday, the government introduced a Bill in Parliament to scrap the tax rule that gave the tax department power to go 50 years back and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India. The 2012 legislation was used to levy a cumulative of Rs 1.10 lakh crore of tax on 17 entities, including UK telecom giant Vodafone, but substantial punitive action was taken only in the case of Cairn.
Deputy US Attorney General Jeffrey Rosen on Wednesday announced that three indictments have been unsealed in the matter that collectively charge five Chinese nationals with computer hacking and charge two Malaysian nationals with helping some of those hackers target victims and sell the fruits of their crime.
Sensex witnessed the biggest single day gain since May 2009 in absolute terms.
The overall FDI policy landscape is changing and can do so faster, says
A suspected Chinese government sponsored group is understood to have snooped on inaccessible government computer networks in India for over a decade, a cyber security group claimed.
The network has been built by six telcos to handle high bandwidth demands of emerging technologies and applications.
'The question now is how long the exercise in perfection he created will last once his influence isn't there any longer,' says Sunanda K Datta-Ray.
India ranks 83, among 166 countries, in spending on mobile rates
The majority of global equity trading and a significant proportion of trading in bonds, currencies, commodities and derivatives, is done on electronic platforms
Since August 2013, FIPB has approved two FDI proposals in the telecom sector.
Qatar is the world's richest country in terms of per capita income.
The RBI on April 6 directed all payments service providers to make sure "that the entire data relating to payment systems operated by them are stored in a system only in India."
'Clearly, the warming of ties can be a 'win-win' for India and China,' says Ambassador M K Bhadrakumar.
Crypto-assets are essential to blockchain technology, which has the potential to be one of the next major growth drivers for the software ecosystem in India. A prohibition would nip this opportunity in the bud, say Vaibhav Parikh and Jaideep Reddy.
Its internet penetration still matches up poorly to other countries
The agreement on services, if ratified by all member countries, could prove to be a game changer for Indian professionals in education, healthcare & IT.
Globally, the estimated average financial loss from cyber incidents was $2.7 million, a 34-per cent increase over 2013.
In his new role, chief Chinnakannan Sivasankaran's son Saravana is likely to manage 60% of the group's revenues
Move to address MNCs' taxation woes; UK likely to be the next.
Cyber espionage operations dated back to at least 2005
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