The company will spend Rs 10,141 crore to buy 15.5 per cent stake from minority investors.
Barclays Plc, UK's third-largest bank by assets, plans to enter the emerging credit card market in India.
The Indian arm of the UK-based retailer for expecting mothers and kidscare Mothercare Plc is on an expansion mode in India.
Corus Group Plc on Friday said it will list 46.8 million additional equity shares for trading on the London Stock Exchange.
Together with Barclays-ABN Amro, about a half a dozen foreign banks such as Citigroup, HSBC and Standard Chartered could hire over 50,000 employees in India in the next three years.
British bank Barclays Plc could jump into the league of top three foreign banks in India from 13 at present if it succeeds in merging its Dutch rival ABN Amro with itself in a deal that could create a combined entity worth $160 billion.
The exploration company will buy back shares from January 23 and extinguish them.
ICI has divested two large businesses this year, and is sitting on a neat cash pile to focus on its core activities.
Tata Steel had made an offer to buy out UK-based Corus at 455 pence per share taking the enterprise value of the company to $10 billion.
The bank (Williams & Glyn's), which was dormant for about 30 years, is being revived by UK-based lender the Royal Bank of Scotland Group Plc.
Tata Technologies Ltd is all set to acquire a UK-based INCAT International Plc.
The government on Thursday hiked by 62 per cent the price of natural gas that is used to produce electricity, make fertilisers and turned into CNG to use as fuel in automobiles and cooking gas for household kitchens. This is the first increase in rates since April 2019 and comes on back of firming benchmark international prices but does not reflect the spurt in spot or current price of liquefied natural gas (LNG) witnessed during the last couple of weeks. The oil ministry's Petroleum Planning and Analysis Cell (PPAC) said the rates paid for gas produced from fields given to state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) will be $2.90 per million British thermal unit for the six-month period beginning April 1.
Next week, Coffee World, a gourmet coffee chain launched by Global Franchise Architects (the promoter of Pizza Corner India) in Thailand, will open its first outlet in Bangalore.
The onus of the tax dues of Rs 22,100 crore on Vodafone India's British parent could also fall on the merged entity.
Aviva Life Insurance on Wednesday launched two new funds -- a secure guarantee fund and equity-oriented growth fund.
Housing Development Finance Corporation is to raise the interest rate on its home loans across all maturities by 0.50 per cent after Diwali.
Ambani said Reliance raised Rs 1.15 lakh crore from global tech investors by selling a little less than a quarter of the firm's digital arm, Jio Platforms Ltd, and another Rs 53,124.20 crore through a rights issue.
Aviva Life Insurance has hiked capital by another Rs 88 crore (Rs 880 million) to Rs 243 crore (Rs 2.43 billion) to sustain growth in business, which doubled to over Rs 70 crore (Rs 700 million) in 2003.
Rolls-Royce plc, a UK-based aero engine giant, announced on Friday that it was bidding for engines for Air India's 2.2 billion aircraft acquisition plan
Rolls-Royce plc, a UK-based aero engine giant, announced on Friday that it was bidding for engines for Air India's 2.2 billion aircraft acquisition plan
The bill to nullify retrospective taxation offers a fair solution within the framework of Indian law and Parliamentary sovereignty to companies which have been subjected to such demands, Finance Secretary T V Somanathan said on Thursday. Finance Minister Nirmala Sitharaman introduced 'The Taxation Laws (Amendment) Bill, 2021' in the Lok Sabha that seeks to withdraw tax demands made using a 2012 retrospective legislation to tax the indirect transfer of Indian assets. The Bill provides for the withdrawal of tax demand made on "indirect transfer of Indian assets if the transaction was undertaken before May 28, 2012 (i.e. the day the retrospective tax legislation came into being)."
The UK has responded to PM Modi's call to 'Make in India' by launching great collaborations in January 2015.
The $5.7 billion total includes $1.6 billion in fines separately imposed by the US Federal Reserve on the five banks.
The company no longer sees the London listing as necessary to access capital and the deal will simplify Vedanta's corporate structure.
The question mark over Vodafone Idea's survival is gone after the government's telecom package, managing director and chief executive officer Ravinder Takkar said in an interaction recently. The extended moratorium for spectrum payments and adjusted gross revenue (AGR) dues has indeed ensured that Vodafone Idea survives, at least for the time being, but questions remain. Answers to those questions may determine the future of Vodafone Idea and its power to stay in a difficult telecom market in the coming years.
Cairn said it had initiated arbitration.
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.
World's second largest mobile operator Vodafone Plc of UK on Tuesday sought FIPB approval to invest Rs 10,141 crore (Rs 101.41 billion) in raising its stake in the Indian arm to 100 per cent.
The IPL broadcast rights -- internet, TV and mobile -- are expected to fetch the BCCI a massive sum of around Rs. 20,000 crore-plus.
In a regulatory filing, Reliance -- the country's most valuable company - said, 'The 43rd AGM will be held on Wednesday, July 15, 2020 at 2 pm though video conferencing / other audio-visual means.'
UK-based Diageo paid Rs 3,030 for a share of United Spirits Ltd, more than double of Rs 1,440 it offered in the previous bid last year.
The Income Tax department, which is probing Cairn Energy plc's transfer of India assets, has asked the UK-based company not to dispose of its 10.3 per cent holding in Cairn India.
Transparency is more than welcome, but govt should not look vindictive.
As India gets ready to roll out one of the largest vaccine programmes, billionaire Mukesh Ambani on Tuesday said his group is working with authorities to provide technology tools and backbone for mass inoculation against COVID-19. Ambani's telecom venture Jio was rolled out four years back, offering free voice calling and dirt-cheap data. Today, Jio is India's largest telecom operator with over 400 million users, each connected to the internet. At a Facebook event, Ambani said the government's digital push kept the country running even during the pandemic and is now helping in the rollout of one of the largest vaccination programmes.
