In 2017, a consortium led by Russian state oil company Rosneft agreed to buy Essar Oil for $12.9 billion in India's biggest foreign acquisition of a homegrown company. Rosneft's buyout of Essar's assets was meant to herald a wave of energy investments in India - over six decades after Esso, Caltex and Shell invested in India's refining sector in the 1950s. But the government has tripped up in its efforts to sell Bharat Petroleum Corporation Ltd (BPCL), formerly Burmah Shell, a blue chip public sector company. Bidders include a couple of global funds and resources firm Vedanta.
'The attacks made clear to all the Gulf States that Pakistan was the nursery and sanctuary of extremist violence and that this violence threatened all the countries in the region.'
.jpg)
The RBI has accepted the application withdrawal request, according to the statement.
Whatever be India's course of action, it will have an impact on India-Iran ties, notes Aveek Sen.
According to global financial services major, despite its recent slowdown, India's economic promise remains substantial, with the growing population and nascent domestic middle class generating a growing market for consumption goods.
'China was a relationship from which Mr Modi had expected the most it seems.' 'It showed in a string of summits, and somewhat breathless celebration of Xi Jinping.' 'It was hasty and simplistic,' observes Shekhar Gupta.
Singapore is the favoured destination as it has traditionally had a stable fund management regime; also, its tax treaty with India is similar to that of Mauritius
Abu Dhabi is no longer exclusive hub for Jet, Etihad won't recommend candidates for Jet management.
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to 2.55 billion Swiss francs (over Rs 20,700 crore) in 2020 on a sharp surge in holdings via securities and similar instruments, though customer deposits fell, annual data from Switzerland's central bank showed on Thursday. The increase in aggregate funds of Indian clients with Swiss banks, from 899 million Swiss francs (Rs 6,625 crore) at the end of 2019, reverses a two-year declining trend and has taken the figure to the highest level in 13 years. It stood at a record high of nearly 6.5 billion Swiss francs in 2006, after which it has been mostly on a downward path, except for a few years including in 2011, 2013 and 2017, as per the Swiss National Bank (SNB) data.
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.
Australia's limited-overs captain Aaron Finch wants the home team players to strike a fine balance when they confront Virat Kohli in the opening Test as he believes, if provoked too much, the India skipper can be ruthless against his opponents.
Exuding confidence in setting up a profitable banking venture, industrialist Anil Ambani on Tuesday said the proposed bank will help lower Reliance Capital's debt to one-fourth of current levels and would be listed as a separate entity in three years.
BSE proposes two models for making gold trading and investment transparent
In a circular, Sebi said QFI would now mean a resident in a country that is a member of the Financial Action Task Force or a member of a group which is a member of FATF.
Qatar is the world's richest country in terms of per capita income.
Privatisation-bound Bharat Petroleum Corporation (BPCL) may sell a part of its stake in Petronet LNG and Indraprastha Gas (IGL) to shed its promoter status to obviate the need for its new owner to make open offers for the two gas companies, sources said. BPCL holds 12.5 per cent of shareholding in India's largest liquefied natural gas importer, Petronet, and a 22.5 per cent stake in city gas retailer, IGL. It is a promoter of both the listed companies and holds board positions. As per the legal position evaluated by Department of Investment and Public Asset Management (DIPAM) - the department running the process for sale of government's entire 52.98 per cent stake in BPCL - the acquirer of BPCL will have to make an open offer to the minority shareholders of Petronet and IGL for acquisition of 26 per cent shares, three sources with knowledge of the matter said.
Happy at the clear mandate given by voters to the BJP-led NDA, India Inc on Friday exuded confidence that Narendra Modi will initiate bold and decisive policy reforms to promote economic growth.
Indian football hero of '80s, Chibuzor dies
Sri Lanka were finally able to pose a challenge to India in the first Test after being hammered in the home series and that, according to chief coach Nic Pothas, was a huge positive.
India-Israel relations are at a crossroads. Simply chanting old hackneyed mantras on terrorism, secularism, democracy, et al, won't suffice. There is danger of stagnation setting in, says Ambassador M K Bhadrakumar.
As part of the service, UAE-based Indian immigrants can transfer money to their families based in India and the service would complement existing remittance channels and make transferring money internationally more affordable, Tata Communications said in a filing to the Bombay Stock Exchange. In the first phase, this service would be extended to over 27 lakh subscriber base of mobile services operator Idea Cellular in Kerala.
In recognition of the award for Sharma, the Asia Society said the officer "has led the investigation and prosecution of several high-profile crimes in India, including the infamous Delhi gang rape case that earlier this year turned into a television series. She has transformed police work and the roles of policewomen in India."
.jpg)
The ministry of civil aviation has disagreed with a proposal of the Prime Minister's Office to explore raising the cap on the number of weekly flights from Qatar in exchange for discounts on additional supplies of liquefied natural gas from there.
National Disaster Management Authority had in 2016 suggested assistance offered as a goodwill gesture 'may' be accepted.
The Gulf countries, a major source of NRI remittances to India, have been experiencing unprecedented growth in the cost of living on the one hand and a steep decline in exchange rates due to most Gulf currencies' peg to the dollar.
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.
Legendary cricketers Sunil Gavaskar and Ian Chappell tipped India as favourites in their much anticipated World Cup clash against Pakistan.
Kalyan Jewellers is eyeing overseas expansion by catering to India-like markets and the diaspora
Prime Minister Modi arrived in Riyadh late Monday night on a two-day visit to Saudi Arabia to participate in the high-profile financial summit Future Investment Initiative, dubbed "Davos in the desert", an initiative of Saudi Crown Prince Mohammed bin Salman.
Economist Dr Subramanian Swamy, whose Janata Party merged with the Bharatiya Janata Party in August, has issued the following press statement on the Indian economy and demanded the implementation of a four-point agenda to save it.
'Rawalpindi must downsize its quest for 'strategic depth' in Afghanistan and Kashmir,' suggests Matein Khalid.
This money was found wrapped in newspapers and was concealed in their check-in baggage.
The on-field verbal duel between rival captains Virat Kohli and Tim Paine has been one of the talking points of the second Test in Perth but Australia pacer Josh Hazlewood played it down, saying it was done in good spirits.
The venue for Saturday's meeting was shifted at the last minute from the headquarters of the India Banks' Association in Cuffe Parade to avoid media glare.
Company has submitted before the court that the plaintiff is attempting to attach property that falls outside of the jurisdiction of the court
Countries with abundant resources are faring worse in terms of development than those with less.
To make sure liquid schemes reflect the underlying portfolio risks, Sebi has said all debt papers with maturity of 30 days or more to be marked to market. Earlier, fund houses didn't have to do so for securities that had less than 60-day maturity.
The spokesperson in the Ministry of External Affairs said diplomats deal with a variety of issues and it was normal for them to collect information, assess them and send report to the government back home.
The branch is likely to be inaugurated on Saturday by Prime Minister Narendra Modi, who is on a three-day visit to China
A bail plea was also moved on his behalf. The court did not give any specific date for hearing the bail plea.
