The government introduced new tax rules on Wednesday aimed at reducing litigation with multinational firms over cross-border transactions the government considers tax avoidance schemes.
Deutsche Bank in India has managed to avoid the bad-loan problems plaguing its rivals such as Standard Chartered Plc.
Afcons Infrastructure, whose chartered barge P305 with 261 personnel at the Bombay High offshore oilfield was wrecked by cyclonic storm Tauktae earlier this week, on Thursday said the weather deteriorated rapidly and reached levels far worse than forecasts.
Reliance Industries Ltd, the nation's most valuable company, on Thursday said it has raised $4 billion (around Rs 30,000 crore) in debt through the largest ever foreign currency bond issuance by an Indian entity. The oil-to-telecom conglomerate plans to use the proceeds of the three tranche issues to retire existing borrowings. The issue was "nearly 3 times oversubscribed with a peak order book aggregating around $11.5 billion," the company said in a statement. This is the largest ever foreign currency bond transaction in India, eclipsing ONGC Videsh Ltd's $2.2 billion US dollar bonds issue of 2014.
The Reserve Bank on Wednesday permitted wholly-owned subsidiary (WOS) of foreign banks to acquire domestic private sector banks as well as set up branches anywhere in the country.
At the heart of Friday's case lay an ICICI Bank loan owed by Mallya's Watson and CASL, for which Diageo stepped in as a backstop so that it could be refinanced by Standard Chartered Bank.
As many as 40 staffers, in the key equities and investment banking division in India, could be asked to go as part of the London-headquartered lender's global layoffs, said people aware of the development. HSBC India declined to comment.
It hopes to attract billions of dollars in investment by this move, and may ease some restrictions on foreign inflows.
Leading share-holders called for change.
Top ten banks of the world includes 4 from the USA, 4 from China and one each from the UK and Australia
The number of serious incidents has more than doubled in the last seven years.
The declaration said the SCO leaders reaffirmed their commitment to peaceful settlement of disagreements and disputes between countries through dialogue and consultations.
'Sometimes, we forget that the most important thing is to smile.'
Environmental campaigners say they hope two outstanding court cases can still stop India's Adani Enterprises Ltd from developing a A$10 billion ($7.6 billion) coal project.
The company has battled opposition from green groups since starting work on the project five years ago
In the case of Iran, the lifting of sanctions has paved the way for direct relations.
Inflation in rural and urban areas in July was 8.45 per cent and 7.42 per cent, respectively.
Vastu Housing Finance is trying to leverage technology to distinguish itself in a crowded space.
Among India's capital-starved local banks, Essar is viewed as too big to fail.
The BKC commands Rs 28,000-29,000 per sq ft for office property and monthly rents are Rs 250-300 per sq ft
Adani Wilmar's bid was approved by the committee of creditors of the bankruptcy-bound Ruchi Soya with about 96% votes in favour
A record 39,510 runners have registered for the Standard Chartered Mumbai Marathon on January 19, 2014.
Ruias to sell Essar Steel stake to strategic partners.
While one can file an updated return, there are certain caveats, warns rediffGURU Mihir Tanna.
'The future of BRICS is under stress as Chinese attempts to expand the platform are being resisted by India and Brazil.' 'Beijing is focused on a quick expansion with the aim of giving the platform a distinctly anti-Western orientation, which New Delhi and Brasilia seem to have no interest in,' notes Harsh V Pant.
Flipkart has promoted several of its leaders into newer roles at a time when the Walmart-owned e-commerce giant has internally raised its IPO (initial public offering) valuation target to about $60 billion and aims for a US listing in 2023, according to the sources. "I am delighted to announce the promotion of some of our exemplary leaders," said Kalyan Krishnamurthy, chief executive officer, Flipkart Group, in an internal note, and which has been reviewed by Business Standard. "Each of them has been instrumental in delivering impact and creating long-term value for Flipkart.
An estimated $344 billion has been illegally removed from the Indian economy between 2002 and 2011
In May 2014, FIIs were net buyers by Rs 20,225 crore (Rs 202.25 billion).
The beleaguered Deutsche Bank announced major overhaul of its business, which included discontinuing loss-making equities trading business, creating a new 'bad bank', and cutting 18,000 jobs. Deutsche Equities India employs 35 people, all of whom could face the job axe.
The CBI also carried out searches at the residence and office of controversial arms dealer Sanjay Bhandari in connection with the deal
Nearly two million e-mandates for recurring payments have been registered with banks and card networks after the Reserve Bank of India (RBI) made it mandatory from October 1 to take prior consent of a customer before debiting her account, sources in know of the matter said. Industry estimates peg the recurring transactions at approximately 2.5 per cent of the total volume of transactions, and about 1.5 per cent in terms of value. Of these, around 75 per cent of domestic recurring transactions, and about 85 per cent international recurring payments are below Rs 5,000.
China's GDP grew by 4.9 per cent in the third quarter, down from 7.9 per cent in the second, confirming the slowdown of the world's second-largest economy which was under pressure from the crisis-hit property sector, curbs on energy and tardy recovery from the Covid-19 pandemic.
Ambani has unveiled an over Rs 1.8 trillion capex plan for the next three years.
The government is also working on Euroclearing, the world's biggest bond settlement system, for Indian debt securities.
Actress Katrina Kaif wanted to participate in her first-ever Standard Chartered Mumbai Marathon, on Sunday, but things don't go as planned.
Consumer goods, durables, automobiles worst hit.
India also slammed Pakistan Prime Minister Shehbaz Sharif for raking up Jammu and Kashmir at the UN.
The agency has registered the FIR after a preliminary enquiry on a complaint from the oil ministry.
Industrial production in November was expected to grow 1.0 per cent from a year earlier, after shrinking 1.8 per cent in October, according to the median consensus of 20 economists.
While Gupta, 60, can rightfully bask in the glory he has achieved for his bank in the subcontinent, his peers in foreign banks will have to revisit their India play, especially the local incorporation model, says Raghu Mohan.
