Auditing firms in the country could soon run out of business if they do not get themselves verified according to the guidelines mentioned in the Eighth Directive issued by the European Union (EU). EU will recognise balance-sheets of companies audited by firms that fit their specified standards.
In the survey, 56 per cent of the companies said they would divest non-core assets so that they could focus more on their core businesses. Around 23 per cent of the respondents said they wanted to sell the non-core businesses as they needed the money to pay debts, or bolster their balance sheet. The challenge for the companies, however, remains to make their non-core assets attractive for sale.
Sheela Murthy, founder, president, and managing attorney of the Murthy Law Firm, has won the Philanthropist of the Year award from the United Way of Central Maryland for her $1 million gift to United Way, a large portion of the sum being marked to go to India.
Riding on its high quality of life, transporatation infrastructure and overall labour force contributing to its economic growth, Delhi has emerged on top among 48 Indian cities, including Mumbai, as the best place to reside. Send us your views.
India's burgeoning entertainment industry loses as much as $ 4 billion and 800,000 direct jobs each year due to counterfeiting and piracy, a latest study says. The study -- The effects of counterfeiting & piracy on India's entertainment industry -- was prepared by Ernst & Young India. It was commissioned as part of the USIBC-FICCI Bollywood-Hollywood Initiative, which promotes the sustainable growth & convergence underway between the entertainment industries of the US & India
Anil Ambani-promoted Reliance Power (R-Power) has roped in international consultancy firm Ernst & Young (E&Y) to upgrade its Sasan ultra-mega power project (UMPP) in Madhya Pradesh to conform to the norms for receiving carbon credits.
In the latest research note titled 'For Richer, For Poorer Global Patterns of Wealth', Ernst & Young said emerging economies have seen their share of global output and wealth rise significantly over the last few years, driven by faster growth, rising income, high savings ratios, strong investment and export. In the next decade, the BRIC countries are likely to contribute 40 per cent of global growth, while the US would account for around 14 per cent.
Identifying Indian youth as engine for growth of retail sector, global professional services firm Ernst & Young said on Friday they offered a huge consuming audience for lifestyle and luxury products.
The bid amount will go towards three charities -- Naandi Foundation, Swades Foundation and PM-CARES -- with Mahindra contributing a matching amount, reports Rajesh Karkera.
"With the ongoing economic downturn and the resultant crash in oil prices, the valuation of oil and gas companies has decreased and this offers Indian companies the opportunity to buy global assets at more reasonable prices than earlier," said Dilip Khanna, partner, Ernst & Young's Oil and Gas Practice. Crude oil prices, after hitting $147 a barrel in July, have dropped to around $55 because major oil-consuming nations have slipped into economic recession.
Top financial professionals of India Inc are keen on converging to global accounting norms and want the present ones to be aligned with either the International Financial Reporting Standards or the US GAAP.
DTH may emerge as the leader among the digital platforms in the next three years, said an Ernst & Young report - "India Digital Revolution: Impact on Film & Television" - released at the Assocham global summit on the media and entertainment industry in New Delhi. The report expects India's television advertising market to grow by 14 per cent annually for the next three years.
Franz Giovanni, Mario Zignotti, Richmond and Ascot. Foreign brands for menswear? Not really. You could pick up these designer clothes from a Westside or a Shopper's Stop. At affordable prices too. It's not only for apparel that retailers creating their own lines; whether its for air fresheners or 'atta', they're putting out their own brands.
Indian real estate developers, enjoying boom times, want your capital.
The report, which took into consideration 57 parameters before arriving at the conclusion, said between Delhi and Greater Mumbai, the national capital takes the lead on city prosperity index due to its lower population and higher per capita income.
The arguments were made by the government before the CLB, which is considering a petition by the government for removal of the board of Maytas Properties. The CLB is likely to pass the order later. The government also alleged that the valuation of Maytas Properties by the consultancy firm was done in a day.
The study was commissioned by the Forum of Indian Regulators -- a body which is open to all regulators but currently dominated by power regulators.
Of the respondents, 61 per cent avoided investing in companies which lack a risk programme, while 48 per cent actually de-invested from firms where risk management was insufficient.
With major predictions of a deceleration in domestic air traffic, airlines are lowering seat capacity by reducing the number of flights or dropping fares in order to fill up their seats. They have also begun the process of reducing the number of aircraft that they were planning to to induct in their fleet as part of their expansion plans. Management consultancy firm Ernst & Young recently estimated that domestic traffic would grow by 24.16 per cent this year
Despite a steady trickle of patients throughout the night of November 26 the staff of Bombay Hospital did a great job of saving precious lives.
The Corus Dutch Central Works Council (CWC), an advisory body established to promote the interest of Corus Nederland and its workforce, has appointed Ernst & Young to examine the future financial implications of Tata Steel's acquisition of Corus.
Sooryavanshi and Annaatthe have already collected 6 percent of the film industry's 2020 revenue.
Sources close to the development said the chairmen of both banks would meet shortly, after which the matter would be taken up by the respective boards and employees would be consulted.
Indian start-ups are likely to experience a fillip as around 40 US venture capitalists and private equity holders have already lined up $400 million to invest in the country.
Amalgamated Plantations, the company to which the Tatas will transfer its NIPO business, covers the company's 20 plantations in Assam and five in Dooars (West Bengal) covering 24,000 hectares.
The pace of privatisation of the Indian healthcare segment is expected to be the fastest in the coming years.
The carrier, which is owned and promoted by Jeh Wadia, has been valued at $314-400 million by private equity investors. At 28 per cent, the value of the proposed investment is expected to be $88-112 million.
The recommendation from E&Y has been made even as its own role in clearing the original bid has come in for censure.
Ruias have rights to tag along with Hutch in any sale.
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