The Competition Commission of India has introduced draft regulations for combinations or mergers, under the new competition Act, to bring global deals in the digital space, including those involving Big Tech companies, under its scanner. The draft regulations would provide guidance on the valuation of merger transactions and the criteria for assessing sustainable operations in India for companies. The proposed rules mention that if the number of users and subscribers, or the turnover or gross merchandise value in India is over 10 per cent of the global figure, the company would be considered to have substantial business operation in India and would need CCI approval for the merger.
'Gujarat is the frontrunner at present.'
'However, Tamil Nadu's robust automobile ecosystem and Telangana's aggressive incentives make them strong contenders.'
'We are focused on playing on our strengths, which are technology, and building a large profitable business by working with banks as well as non-banks and NBFCs for loans.'
FMCG major Hindustan Unilever on Wednesday reported a 1.53 per cent decline in consolidated net profit to Rs 2,561 crore for the fourth quarter ended March 31, 2024 due to factors such as deflation and softening of commodity prices. The company had posted a net profit of Rs 2,601 crore in the year-ago period, according to a regulatory filing from HUL. Net sales of Hindustan Unilever Ltd (HUL) were almost flat to Rs 15,013 crore in the March quarter.
The top court said the exclusion of a member of the Opposition from the House just because of a perspective which may not be consistent with the viewpoint of the government is a serious issue.
Several Bharatiya Janata Party-ruled states in the country, including Gujarat and Assam, have expressed their keenness to follow the Uttarakhand UCC as a model.
The State Department has proposed not to issue temporary business visas for H-1B speciality occupations which allowed several companies to send their technology professionals for a short stay to complete jobs on site in the US, a move which could affect hundreds of Indians. The proposal, if finalised, will eliminate any misconception that the "B-1 in lieu of H policy" provides an alternative avenue for foreign professionals to enter the US to perform skilled labour that allows, and potentially even encourages them and their employers to circumvent the restrictions and requirements relating to the H non-immigrant classification established by Congress to protect the US workers, the State Department said.
Taiwan-based Hon Hai Technology Group, the subsidiary of Foxconn Industrial Internet (Fii), is in talks with the Tamil Nadu government to invest around $200 million to set up an electronic components unit in the state. According to a Reuters report, FII, which makes communication, mobile network and cloud computing equipment, has shared the plan with the Tamil Nadu state officials. Business Standard had reported last week that Fii's chief executive officer (CEO) Brand Cheng met Tamil Nadu Chief Minister M K Stalin and Minister for Industries, Investment Promotion and Commerce TRB Rajaa.
The carriers are scoffing at making the life of their competitors 'easier.
She said I treated her like a bachchi. At another moment, she said I had gone to various people and 'bitched' about her. She also threatened to bring the entire matter to the PM's notice. A revealing excerpt from Subhash Chandra Garg's We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.
Following the conflict, Israel has banned the entry of Palestinian workers. The departure of several thousand other foreign workers, the Israeli construction industry has been facing a deep crisis.
With land acquisition completed and infrastructure work streamlined, India's bullet train dreams are slowly, but finally, inching closer to reality.
A high-level committee on Thursday recommended simultaneous elections for Lok Sabha and state assemblies as the first step followed by synchronised local body polls within 100 days.
Rajya Sabha Chairman Jagdeep Dhankhar on Wednesday referred the complaints of four MPs, who accused Aam Aadmi Party MP Raghav Chadha of proposing their name in a House panel without their consent in violation of rules, to the privileges committee to examine and investigate the matter.
Farmer leader Sarwan Singh Pandher on Tuesday said the Centre should convene a daylong Parliament session to bring a legislation on the minimum support price (MSP) for crops, a key demand of protesting farmers.
The rumour verification process would now be triggered by changes in price or 'material price movements', as the paper defines it. What this means is that companies would need to verify rumours only if the share price moves significantly.
The Election Commission (EC) has raised certain questions on the government's proposal to allow foreign direct investment (FDI) in the construction and maintenance segments of the railways.
Qatar Investment Authority (QIA) will acquire around 1 per cent stake in Reliance Retail Ventures Ltd (RRVL), the retail arm of billionaire Mukesh Ambani-led Reliance Industries, by investing Rs 8,278 crore ($1 billion). A QIA's wholly-owned subsidiary will make the investment in India's largest retailer at a valuation of Rs 8.278 lakh crore ($100 billion). Updating about the development, Reliance Industries in a regulatory filing said: "QIA's investment will translate into a minority equity stake of 0.99 per cent in RRVL on a fully-diluted basis." RRVL is the holding company for all retail businesses of Reliance Industries Ltd (RIL).
The Supreme Court on Friday termed the deadlock between the Punjab government and its governor over assent to bills passed by the assembly a matter of "serious concern" and said it is not happy with what is happening in the state.
'The concept of an MP IPL team is the brainchild of Kamal Nath.' 'If the Congress government comes to power in the state, he will assemble an IPL team for MP with the assistance of his business contacts.'
At a time when the role of corporate boards is once again under the scanner, independent directors on the Paytm Payments Bank board have indicated that red flags were raised over regulatory issues but they may have been late in doing so. "As independent directors, we asked questions and monitored responses to the Reserve Bank of India (RBI). Many changes were made on compliances. "Obviously, in retrospect, it was not found to be enough," said one of the independent directors on the condition of anonymity.
Noting that he fully respects the Supreme Court order on electoral bonds, Union Home Minister Amit Shah on Friday said the scheme was introduced to end black money in politics and added that it should have been improved rather than scrapped.
It aims at tackling issues such as child labour, mistreatment of workers, and denial of basic wages, among others. There will also be penalties for non-compliance.
US President Barack Obama has proposed to establish a new minimum tax on foreign earnings while repealing benefits for outsourcing jobs overseas and providing new incentives for bringing jobs back home.
'The ministry may like to consider setting up an ombudsman similar to electricity ombudsman and insurance ombudsman, to ensure a time-bound resolution of consumer issues within the airline sector.'
Pressure from the Soren clan is only one of the challenges Champai faces as he readies himself to helm the predominantly tribal state.
The stock of the country's largest passenger vehicle maker, Maruti Suzuki India (MSIL), has been hitting successive all-time highs over the past three trading sessions. The rally in the scrip has helped it notch over a 21 per cent gain since the start of February, outperforming the National Stock Exchange Nifty Auto Index. The gains for the leader of small passenger cars have been more recent, as the company still trails the Nifty Auto over one- and two-year periods.
Startup founders need to sit up and think about how not to take stardom for granted and how not to disappoint their fans who have stood in long queues for those precious selfies with popular entrepreneurs, notes Nivedita Mookerji.
The new government that presents the full Budget for 2024-2025 in July should be ready to restructure the way divestment is managed and implemented, proposes A K Bhattacharya.
'The prime minister's comment on 'revdi culture' was welcome. But I am disappointed he did not follow up on that.' 'All political parties, including the BJP, have been guilty of this.' 'Now, Modi's guarantees, the Congress's 'nyay' path and both ruling and Opposition parties are vying with each other for freebies in my home state Andhra Pradesh.'
A group photo taken at the Bharatiya Janata Party office in Jaipur ahead of Tuesday's legislature party meeting showed Bhajan Lal Sharma in the very last row.
The annual session of the National People's Congress, a ceremonial body that routinely passes the proposals of the ruling Communist Party of China, approved Li Qiang's candidature after his name was proposed by Xi himself.
The new scheme may be announced before the Lok Sabha elections.
Actor-politician Kamal Haasan on Wednesday said discussions were on for his party Makkal Needhi Maiam (MNM)'s political alliance and stressed it would support any bloc that would 'selflessly' think about the nation but desist from being part of 'feudal politics'.
Dixon Technologies right now is a beehive of activity. It is building a new facility in Noida to make 1.3 million laptops for Taiwanese PC maker Acer. The facility must be up and running in four months. The pace of activity will only increase. Last week Dixon won a similar contract from Lenovo, the Chinese personal computer maker and the third largest information technology (IT) hardware brand in India, to assemble laptops and notebooks. Though the clientele in these two cases is Taiwanese and Chinese, Dixon is a company reaching for the stars with its feet planted firmly in the Indian government's policy.
Heeding to the demands of business jet operators, DGCA has amended its proposal to bar them from commercial flying if they did not have a three-aircraft fleet and come up with a new rule reducing the minimum requirement of planes to one.
The government is close to approving a proposal by Micron Technology to set up an assembly, testing, marking and packaging (ATMP) facility in the country involving an investment of about $1 billion. The world's fifth largest semiconductor company, based in Idaho, USA, will use the facility to process some of its own wafers, manufactured across the globe.
Policy owners need to avoid errors on their part to prevent claims from being denied.
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
