In a landmark decision the Central Information Commission (CIC) has ruled that the income tax returns of political parties will come under the purview of the Right to Information Act (RTI). The move will, it is hoped, enable the public to get details on the funding sources of political parties.
In a move to allow US investors to directly participate in India's equity markets, Chicago-based US Futures Exchange (USFE) will exclusively license the Bombay Stock Exchange's Sensex for US dollar-denominated futures trading beginning February 22 next year. At present, US investors can buy only a handful of Indian stocks listed on the New York and Nasdaq exchanges through an American Depository Receipt (ADR) authorisation.
Rashesh Shah, MD, Edelwiss Capital, said apart from participating in mega public offers, ADRs, and FCCB conversions, FIIs have started investing in the secondary markets over the last few weeks.
Fire brigade, Mumbai Police and civic officials rushed to the site to carry out the rescue operation.
The US stocks slumped on Thursday on signs of further weakness in the housing sector.
Election watchdog Association of Democratic Reforms also reported that Janata Dal-United's Mahendra Prasad was the richest with assets worth Rs 4,078 crore.
Foreign institutional investors have been allowed to invest up to Rs 5,400 crore (Rs 54 billion) in Reliance Communications through ADRs or GDRs.
The company, which made the biggest ever acquisition in the Indian pharma history last year by taking over controlling stakes in DocPharma in Belgium, has finalised the Latin American deal and an announcement would be made soon.
Ruling out any relaxation in regulations, market regulator SEBI on Saturday said it will soon allow real estate funds, short selling by big investors and a system of stock lending and borrowing.
The third phase will see the maximum number of seats going to the polls in this election spread across 12 states and 2 Union territories.
Companies going for overseas listing can now breathe easy, as the government has amended the ADR/GDR norms to allow them such issues for companies going for simultaneous listing of their shares or follow-on offers in international capital market.
Infosys directors - N R Narayana Murthy, Nandan Nilekani, T V Mohandas Pai (head of HR) and five others - have collectively offered 1.3 crores
23 of the DMK's 24 candidates are crorepatis!
The government said that the massive amount of political donations were earlier made in cash by individuals or corporates using 'illicit means of funding'.
'Secrecy allowed in the electoral bonds scheme legalises anonymity'
The government on Friday hiked foreign investment ceiling in private banks from 49 to 74 per cent and allowed foreign banks to set up subsidiaries in the country.
State-run gas firm Gas Authority (India) Ltd may list on the New York Stock Exchange or the Nasdaq by converting its global depository receipts into American depository receipts.
The markets opened on a positive note at 6,689 and climbed steadily by 30 points thereafter as sentiments were boosted after the Indian ADRs witnessed a strong rally on the US indices.
A day after gory details of Sheena Bora murder case were revealed by police in court, her biological father on Tuesday came out in the open for the first time while skeletal remains purportedly of the 24-year-old unearthed in Raigad were sent to Forensic Science Laboratory in Mumbai.
The FIPB on Friday cleared the long-pending proposal of HDFC Bank to hike foreign holding in the bank to 74 per cent.
The body of the 'people's President' was brought down to Rameswaram from New Delhi in the afternoon.
Indian Divestment Minister Arun Shourie said on Friday that he expected to partly complete the asset sale in National Aluminium Co, the nation's second largest aluminium maker, by November.\n\n\n\n
Investors also appreciate the role being played by the founders; analysts, too, remain unperturbed.
The government on Friday said that the realisation rate of foreign direct investment inflows into India has been the highest in 2002 since 1991 at 191.08 per cent in rupee terms.\n\n\n\n
He dropped those perceived to be non-performers or whose integrity came into question, and also where it was felt they needed to learn a lesson or two in humility.
83 MLAs from the BJP, 11 from the SP, four from the BSP, one from the Congress and three Independents have declared serious criminal cases against themselves in their affidavits.
