With Lok Sabha elections months away, the visits are vital politically as these would showcase Modi's standing as a world leader to the home electorate.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
Africa is second only to West Asia as a net exporter of oil.
Asked about his fleet of luxury cars and other references to his lavish lifestyle as the counsel for the banks cross-examined him, the Reliance Communications chief dismissed them as "speculative" media stories.
Welcoming the latest round of stimulus announced by Finance Minister Nirmala Sitharaman on Thursday, experts said the measures will support the economic recovery boosting demand, job creation and by providing funds to the MSME and stressed sectors. The fiscal impact of the stimulus is likely to be around 0.25-0.6 per cent of GDP in the current fiscal, they said.
India's exports jumped 45.76 per cent to $33.28 billion in August on account of healthy growth in segments like engineering, petroleum products, gems and jewellery and chemicals, even as the trade deficit widened to a four-month high of $13.81 billion.
Brookfield Asset Management will pay around Rs 29,000 per square foot for the 170,000 square feet of space in Jet Airways' two-floor office in Bandra Kurla Complex.
Work on a dozen decisions to start by next week.
The Reserve Bank on Monday asked banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency. Before putting in place this mechanism, banks will require prior approval from the Foreign Exchange Department of the Reserve Bank of India (RBI), the central bank said in a circular. "In order to promote growth of global trade with emphasis on exports from India and to support the increasing interest of global trading community in INR, it has been decided to put in place an additional arrangement for invoicing, payment, and settlement of exports / imports in INR," it said.
The Delhi high court on Monday sought the Centre and SBI's reply to former RCom chairman Anil Ambani's plea to include the Chinese banks, which have got a decree of $717 million against him from a court in United Kingdom, in the proceedings related to recovery of Rs 1200 crore loan granted to two of his companies. The high court also said that the moratorium on recoveries from sale of Ambani's assets, as provided under section 96 of the Insolvency and Bankruptcy Code (IBC), would remain in operation for now. This direction came on the application moved by the State Bank of India (SBI) seeking a declaration that the moratorium shall continue to be in effect.
Finance Minister Arun Jaitley said the magnitude of the alleged black money transfer through state-owned BoB will only be known after completion of the multi-disciplinary probe.
Sharma was addressing the members of the Board of Trade, a body comprising captains of Indian industry.
Rating agency Fitch on upgraded outlook of 10 financial institutionals, including SBI, ICICI Bank and EXIM Bank of India to 'stable' from 'negative' earlier following revision in the country's outlook.
China's intended role for AIIB is not so different from the existing Western lenders like the World Bank.
The country's exports dipped 8.74 per cent to $23.52 billion in November on account of contraction in shipments of key sectors like petroleum, engineering, chemicals and gems and jewellery, official data showed on Tuesday. Trade deficit during the month narrowed to $9.87 billion as imports too declined by 13.32 per cent to $33.39 billion.
Traditionally, issuance from Chinese companies dominate the green bond market, but other emerging market economies are coming up fast
IndiGo Airlines signs $2.6-billion leasing and financing MoU with Industrial and Commercial Bank of China.
As the euphoria around US President Barack Obama's visit ebbs, the fine print of the investment announcements reveal a financial boost for American solar energy companies to increase their exports to India.
Ambani has unveiled an over Rs 1.8 trillion capex plan for the next three years.
ICICI Bank Ltd said Reserve Bank of India authorized it in Feb 2002 to import gold/silver/platinum under Exim-Policy 1997 for sale in wholesale domestic market.
Currently most of its 119 planes have been taken back by the lessors and many have been leased to other airlines like SpiceJet. The second challenge is that it has to repay banks.
The Bombay High Court refused to stop publication of photographs of a defaulter firm in newspapers, saying that it was in larger public interest.
Finance Minister Nirmala Sitharaman on Thursday announced a new job creation scheme by giving subsidy to those establishments that make new hires. The subsidy would be to cover for retirement fund contributions by employees as well as employers for two years, she said. Employees contribution (12 per cent of wages) and employer's contribution (12 per cent of wages) totalling 24 per cent of wages would be given to establishments for two years, she said. Under the Aatmanirbhar Bharat Rozgar Yojana, every Employees' Provident Fund Organisation (EPFO)-registered establishment taking new employees would get this subsidy.
This project is part of $46 billion China-Pakistan Economic Corridor (CPEC) package and is covered under the CPEC Framework Agreement.
Airline told to transfer non-core assets, subsidiaries to special purpose vehicle
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
Sanjeev Gupta of Liberty House, a global supplier of metals and engineering solutions, who has emerged front-runner for a number of stressed companies, plans to fund a string of companies through a mix of equity and debt.
In what is in effect a deposit to be paid into court pending a full trial in the case, Judge David Waksman has set a six-week timeline for Anil to pay $100 million to three Chinese banks as he concluded that he did not accept Ambani's defence that his net worth was nearly zero or that his family would not step in to assist him when "push came to shove".
Speaking to the Indian community, he asked them to join the campaigns launched by Prime Minister Modi such as 'Digital India', 'Startup India, Stand up India', 'Clean India Mission', 'Smart Cities' etc.
India and Vietnam on Monday inked seven pacts, including one to enhance cooperation in the strategic oil sector, as they called for "freedom" of navigation in the South China Sea, a remark which could irk China, which has been claiming territorial sovereignty over the high seas.
It was unclear how bankers were deciding which jewellers to support
In debt private placements, firms issue debt securities or bonds to institutional investors to raise capital.
The leaders said trade ties were still fragile
Snooping is one of the oldest peccadilloes of man, observes Ambassador M K Bhadrakumar.
Barry Eichengreen, professor of economics and political science, University of California, Berkeley, analyzes the transparency of the Reserve Bank of India, the growth rate of the Indian economy and why he feels globalisation can never be rolled back.
But their trajectory and direction have been largely influenced by politics and the political leadership's understanding of how the economy needs to be managed, explains A K Bhattacharya.
The Modi government's appalling inefficiency and lack of purpose stand exposed, says Ambassador M K Bhadrakumar.
The loan will be utilised in several developmental projects that Nepal wants to undertake. Nayanima Basu reports.
Prime Minister Narendra Modi on Tuesday held talks with his Nepalese counterpart Sushil Koirala on key strategic issues after which ten agreements, including a pact on $1 billion assistance to Nepal, were inked.
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