'I hope they all survive, but it is a tough world.' 'The carriers who are already established are already struggling.'
Two long-stalled reforms are lifting FDI cap in insurance and simplifying land acquisition for factories.
'In a secular society where women are treated equally by law, I want the same equal status for my daughters in society, on par with all the boys.'
Though retail investors accounted for a larger number of outstanding shares of the NSE-listed companies at 15.29 per cent, the combined value of their holding was Rs 9.16 trillion. This was much lower than the value of holding of FPIs and DIIs.
The Patak's Indian food empire has been put up for sale with a price tag of 200 million pounds, just months after a bitter family feud over ownership of the company was settled.
'Institutional ownership, by December 2018, had increased 37.5% from approximately 22% in early 2009,' points out Amit Tandon.
Three firms, Vishvapradhan Commercial Pvt Ltd along with AMG Media Networks and Adani Enterprises Ltd, have offered a price of Rs 294 for the acquisition of up to 1,67,62,530 fully paid-up equity shares of NDTV having a face value of Rs 4 from the public shareholders.
'Looking at how teachers can change lives of students, I asked myself: 'Why don't I become a changemaker and change the lives of underprivileged students?''
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The government on Monday proposed to increase foreign direct investment limit in the insurance sector to 74 per cent, a move aimed at attracting overseas players.
Bhavish Aggarwal, the founder of ride-hailing firm Ola who disrupted the electric scooters market in the country, is planning to launch an electric sports car in 2024. The plan will put it in competition with Indian players, such as the Tata group and Mahindra & Mahindra, and global giants like Tesla and Hyundai. Aggarwal, recently, took a group of reporters to the firm's design studio at the Ola campus in Bengaluru where his teams are working on several EVs, including scooters, motorcycles, sedans, and SUVs - and even robotaxis.
The regulatory burden is the highest on small cars, a key segment of the Indian automobile industry and having a uniform tax structure across all segments of vehicles will not augur well for the sector growth, according to Maruti Suzuki India chairman RC Bhargava. He also said India's economic growth rate could be higher if the manufacturing sector grows fast, which 'unfortunately' has remained a laggard despite the best efforts of the Narendra Modi-led government at the Centre due to implementation gaps at the ground level. "The burden of regulatory changes on the small cars is far higher than the regulatory burden on big cars and that is changing the whole market behaviour.
As media phenomenon, Arikomban is in a different league. Efforts to capture the elephant were telecast live. Local three-wheeler drivers started a fans association for the pachyderm. A film has now been announced based on Arikomban's life.
Tata group-owned AirAsia India's inability to get approval for international flights is hurting UDAN, the Indian government's regional air connectivity project that also aims to link cities in Northeast India and Odisha to places abroad. Sources said the civil aviation ministry is waiting for the low-cost airline to come under the full ownership of Tata Sons and become part of Air India, the former state-owned carrier now owned by the private conglomerate, before allowing it to operate international flights. Tata owns 84 per cent stake in AirAsia India and it is understood that the group will complete the process of buying rest of the stake by July's end.
Vodafone further said it has "always been confident" that no tax is due on the company. The government in August enacted a law to end all retrospective taxation imposed on indirect transfer of Indian assets. The rules under the law seek to withdraw tax demands made using a 2012 retrospective legislation to tax the indirect transfer of Indian assets and also refund the amount paid in these cases without any interest. Asked if the company has filed an application with the Indian government to settle the retrospective tax dispute, a Vodafone spokesperson said, "We can confirm we have filed an application".
Unless Punjab has a chief minister who is able to look beyond community/vote bank politics, carry all sections of society, stop appeasing while addressing genuine concerns and break the stranglehold of the SGPC over Sikh affairs, my beloved home state is bound to die and conversions will be rampant, warns Sanjeev Nayaar.
Caught in the crossfire of Sino-India border skirmishes and strained by the severe impact of the pandemic on its business, Brand Hector is foregoing the bustle and frenzy for a quiet digital campaign that talks about its British roots, the smart tech powering its drive and its made-for-India models. The tone is subdued and the brand seems to be deliberately playing down its ownership by Chinese company, SAIC.
The government on Saturday made its prior approval mandatory for foreign investments from countries that share land border with India to curb 'opportunistic takeovers' of domestic firms following the COVID-19 pandemic, a move which will restrict Foreign Direct Investment from China.
Jet Airways is in discussions with aircraft manufacturers and lessors to lease 6-8 planes, including some of those which were to be delivered to Russian carriers prior to the Ukraine war, as it gets ready for the relaunch, according to sources. Moreover, the airline is also negotiating with airport operators to secure slots with "good" timings, they said. Once a major player in the Indian aviation space, the carrier has not flown since April 17, 2019 and is being revived under the ownership of the Jalan-Kalrock consortium.
'Air India's privatisation is acceptable as long as its control does not pass on to a foreign entity,' says A K Bhattacharya.
Welcome to Non-Fungible Tokens (NFT) - digital constructs authenticated using an abstract mathematical application. An NFT is a unique token added to some digital construct and registered on a blockchain with details of ownership. The construct itself might be free (it often is) but the NFT along with the construct is worth "more". The NFT market didn't exist until 2017 when "cryptokitties", or virtual cats, became available with NFTs. The market is now worth around $350 million. Speculators believe it is likely to be worth much more in future.
In what could be a game-changing move for the struggling East Bengal, EPL giants Manchester United may end up taking the ownership of one of oldest football clubs in the country.
'What we have to think about is, how to improve the efficiency of public sector banks.' 'You have to make decision-making more prudent, and free from government intervention.'
Technology giant Apple, which recorded $83 billion in revenue for the quarter ended June 2022, has reported a "near doubling" of revenue in India. Announcing financial results for its fiscal 2022 quarter ended June 25, Apple on Thursday said it has achieved a revenue record of $83 billion, up 2 per cent year-over-year. Apple CEO Tim Cook, during an earnings call, said the 83 billion dollar revenue was "better than we expected despite supply constraints, strong foreign exchange headwinds and the impact of our business in Russia."
It may be a 'no-go' for banking licences to large industrial houses.
'Not many know that Ratan Tata became chairman of Tata Sons because of Cyrus's father Pallonji Mistry. But he (Cyrus) never used it or leveraged it to his benefit.'
Sharjah Airport International Free Zone has invited Indian companies to set up businesses in the zone by taking advantage of a host of incentives provided by the UAE government.
Russia has defaulted on the supply of at least 5 cargoes or shiploads of LNG to India after its retaliatory sanctions hit one of the companies that supply gas to India, sources said. India's largest gas firm GAIL has a long-term deal to import 2.85 million tonnes of liquefied natural gas (LNG) per annum from a Singapore-based unit of Russian gas producer Gazprom. The company has since June defaulted on the supply of 5 cargoes of LNG under that contract citing difficulty in sourcing gas due to sanctions, two sources briefed on the matter said.
French aerospace major Thales Group is eyeing major expansion in India. The group has started planning to set up a maintenance, repair, and overhaul (MRO) organisation in India to support Indian airlines - many of which are its customers for avionics support. "We are looking to set up an MRO, so that they don't have to travel to West Asia or Singapore. "Final decision is yet to be taken, but this is a clear intent showing the growth potential in India that we are looking to set up a sub-centre here," said Yannick Assouad, executive vice-president, avionics at Thales, who was on her maiden visit to the group's India office at Bengaluru since taking charge.
The Supreme Court (SC) on Monday slapped a fine of Rs 2000 ($25) and a four-month jail sentence on fugitive businessman Vijay Mallya. In addition, the former liquor baron has been asked to deposit $40 million with 8 per cent interest within a month, failing which his properties would be attached to recover the amount. The court held Mallya guilty of contempt after it was brought to its notice that he had transferred $40 million to his children in the US.
About 300 fintech firms are under investigation by the ED for allegedly partnering 38 non-banking financial companies for predatory lending practices to charge borrowers high interest rates.
The acquisitions, costing more than $1.6 billion, have helped Holcim corner close to quarter of the country's 189 million-tonne cement market. Lafarge, which entered India in 1999 by acquiring the cement division of Tata Steel and bought out Raymond's cement facility in 2001, has a capacity of only 5.5 million tonnes. Holcim also plans to invest around Rs 10,000 crore (Rs 100 billion) in the next five years to set up plants.
Foreign nationals from 162 countries ended up buying real estate in Dubai in 2013
IT, FMCG and manufacturing sectors are less attractive to foreign portfolio investors
The 1991 provision is an Act to prohibit conversion of any place of worship and to provide for the maintenance of the religious character of any place of worship as it existed on August 15, 1947, and for matters connected therewith or incidental thereto.
Increase in surcharge will adversely impact fund managers planning to shift to India. As a matter of fact several fund professionals based in India could also relocate to other jurisdictions, resulting in a brain drain.
'Our focus is not going to be metro to metro routes.' 'We will begin by focusing on metro to non-metro (routes).' 'Metro to tier-2 cities or tier-3 cities is where there is a lot of space for affordable, efficient carriers.'
Uddhav Thackeray and his followers have the option to stop riding a tiger and commence work around a more meaningful and enduring political ideology. It is an option Eknath Shinde's side may not have, supported as they were by the BJP, to maintain continuity of the old Sena, argues Shyam G Menon.
The Air India board met on Monday afternoon to consider the candidature of Ilker Ayci and after due deliberations approved the appointment of Ayci as the CEO & MD of Air India, Tata Sons said in a statement.
