Dhanteras has cheered up jewellers as it has turned out to be the best in three years, thanks to the lower price of the yellow metal and pent-up demand. In Mumbai's Zaveri bazaar, buyers came in out force and jewellers did not have to depend on freebies to induce sales, even though all of them had announced some offers. In fact, more discounts were announced for diamond and studded jewellery.
Among the other conditions of the Hinduja group for picking up a stake in Jet is that bankers must take a haircut of 80 per cent and that they should help negotiate with operational creditors like aircraft lessors for moratorium on certain immediate payments.
In the past, India strongly rejected references made to Jammu and Kashmir in a previous joint statement by Pakistan and China.
The Securities and Exchange Board of India (Sebi) has just released a proposal to alter the regulations pertaining to the sponsor system for mutual funds. One of the reasons for the proposed changes is that there are two conflicting regulations that need to be clarified. The other reason is that the sponsor system may itself be outdated as it stands, and the proposed changes would allow new entities such as private equity funds and portfolio management services to enter this space.
'As far as contract farming is concerned, we already have a model Act and states will be encouraged to adopt them.'
Work on a dozen decisions to start by next week.
The CBI had summoned Karti to appear before it on October 4.
The IPO rush will continue in September with two more companies Vijaya Diagnostic Centre and Ami Organics launching their initial share-sales on Wednesday to raise a total of Rs 2,465 crore. This comes after eight companies including Devyani International, Nuvoco Vistas Corporation and CarTrade Tech floated their initial share-sales last month to mobilise Rs 18,243 crore. So far in the current fiscal, a total of 20 companies have mopped up more than Rs 45,000 crore through IPOs. This is much higher than Rs 31,277 crore raised by 30 firms in the entire 2020-21.
At $2.6 trillion, the Indian economy is currently ranked sixth in the world behind the US, China, Japan, Germany and the UK.
"For the next 25 years we need to focus on the five resolves - developed India, removing every trace of bondage from our mind, taking pride in our glorious heritage, unity, and fulfilling our duties," he said.
The Finance Ministry is of the opinion that Vodafone might drag its tax dispute to court.
The government may provide for targeted fiscal incentives and allocation of funds for promotion of green hydrogen in the country in Union Budget 2022-23, which is slated to be unveiled in Parliament on Tuesday. The government launched National Hydrogen Mission in 2021. Earlier this month, Power and New & Renewable Energy Minister R K Singh had indicated that a green hydrogen policy will be unveiled in February which would feature many incentives to boost green hydrogen in the country. "While 2021 saw the launch of National Hydrogen Mission, it is likely that the Budget may provide for targeted fiscal incentives for R&D in green hydrogen segment, creation of domestic supply chain for hydrogen and reduce customs duties on electrolysers to boost green hydrogen production," says Venkatesh Raman Prasad, Partner, J Sagar Associates (JSA).
The government on Wednesday approved a Rs 12,195 crore production-linked incentive (PLI) scheme for telecom gear manufacturing in India, a move that will position the nation as a global powerhouse for production of such equipment ahead of 5G roll-outs. The PLI scheme for telecom gear manufacturing will be operational from April 1, 2021.
At the outset, decide whether you want to be a trader or an investor, suggest Sarbajeet K Sen and Sanjay Kumar Singh.
India is one of the largest military equipment importers in the world, at over $8 billion a year.
However, this was subject to conditions like substantial ownership and effective control of the airline being vested in Indian nationals.
This is the full text of Prime Minister Manmohan Singh's address to media persons ahead of his interaction with them in New Delhi on Friday
Public sector lender Bank of India has moved to the National Company Law Tribunal (NCLT) seeking initiation of insolvency proceedings against Future Retail Ltd and a moratorium over the assets of the Kishore Biyani-led debt-ridden firm. Besides, Bank of India (BOI), the lead banker of a consortium of banks that lent money to Future Retail Ltd (FRL), also suggested the insolvency tribunal appoint Vijay Kumar V Iyer as the interim professional of the company. Meanwhile FRL, in a regulatory filing, said it has been served and received a copy of the petition and is in the "process of taking legal advice".
On his maiden visit to Beijing, Pakistan Prime Minister Shehbaz Sharif held talks with Chinese President Xi Jinping during which the two leaders agreed to strengthen the all-weather friendship and the USD 60 billion China-Pakistan Economic Corridor (CPEC).
India maintained 43rd rank on an annual World Competitiveness Index compiled by the Institute for Management Development (IMD) that examined the impact of COVID-19 on economies around the world this year. The 64-nation list was led by Switzerland, while Sweden has moved up to the second position (from sixth last year), Denmark has lost one place to rank third, the Netherlands has retained its fourth place and Singapore has slipped to the fifth place (from first in 2020). At eighth, Taiwan reached the top-10 for the first time since the ranking began 33 years ago (moving up from 11th last year).
'We must understand that the LAC is a political issue for China, so any action on the LAC will keep India focussed on the LAC which gives China the opportunity for any adventurism in the Indian Ocean.'
'There have been many cases where clients have indicated that they feel suicidal as they feel they have no other options to deal with their financial hardship.'
Pragmatism and flexibility is a virtue. An untethered and short-term approach to policymaking is a flaw, argues Mihir S Sharma.
The government is working towards further review and simplification of the foreign direct investment (FDI) policy to facilitate the proposed initial public offering (IPO) of the Life Insurance Corporation (LIC), Department for Promotion of Industry and Internal Trade (DPIIT) secretary Anurag Jain said on Thursday. The final decision will be taken by the Cabinet. The industry department is working together with the finance ministry's department of financial services (DFS) and department of investment and public asset management (DIPAM) towards a successful listing of the life insurer on the domestic bourses, which is expected to be the largest in India.
The protests brought home the fact that the Sri Lankan public is in no mood for halfway measures, as voices against Rajapaksa 'family rule' and 'securitisation' of the civilian administration began sidestepping the more critical economic crisis, affecting the nation and afflicting the individual, observes Sri Lanka watcher N Sathiya Moorthy.
100 per cent FDI is now allowed in almost every major TV distribution form (direct-to-home, cable, headend-in-the-sky, multi-system operators) and 49 per cent in TV news.
Jaitley's Budget has the potential to change the face of Modi's Bharat
The earliest ones included whistles shaped like birds, toy monkeys that could slide down a string and small carts made from materials found in nature such as sticks, clay and rocks. While there might be no disputing India's rich toy-making tradition, the industry is languishing for lack of investment and technology, and also owing to competition from cheap imports. And though it has been listed among 24 key sectors under the government's Atmanirbhar Bharat Abhiyaan, the question remains: will this push help place it in the global game? Currently, 80-odd per cent of the toys sold in India are imported - nearly 60 per cent of them from China.
India's antitrust regulator has approved Sun-Ranbaxy deal, subject to the companies divesting seven products.
Reconstruction efforts after the Russia-Ukraine war will be dominated by the heft of the membership of major nations across international organisations. India is hamstrung because it does not play host to any major global institution nor does it hold positions of significant influence in the ones in which it has membership. As a result, the world's sixth largest economy is obliged to follow the rules set by most of them.
Similarly, FDI from Cyprus too increased by about three-times to $879 million in the last financial year from $296 million in 2018-19.
He recalled that the state was home to Vaishali, said to be the oldest republic in the world.
With the Adani and Jindal groups and Mukesh Ambani-owned Reliance Industries joining the race to buy Videocon Industries' (VIL's) assets, lenders are expecting aggressive bids for VIL's consumer durables and overseas oil assets, which are to be sold in separate auctions. The entire asset sale exercise is expected to be completed in the next six months, said a banker. A promoter entity of Naveen Jindal-owned Jindal Steel and Power has also evinced interest in the second round of bids for VIL's consumer durable business. The deadline to submit bids for VIL's assets ended on February 2.
Jhunjhunwala passed away early on Sunday morning due to a cardiac arrest, a source in his newly set up airline said.
Analysts, however, suggest investors remain selective on realty stocks and buy only where there is revenue visibility and a credible promoter backing.
Messaging platform WhatsApp on Wednesday said it has rolled out a pilot program across 500 villages across Karnataka and Maharashtra, aimed at empowering villagers with access to digital payments through 'payments on WhatsApp'. The announcement was made at Fuel For India 2021 - Meta's annual event in India. WhatsApp India Head Abhijit Bose said the pilot aims to effect a behavioral transformation to digital payments at the grassroots.
Survey calls for reorienting policies to promote young firms which have the potential to become big, rather than small MSME firms which remain small.
Employees across segments, including those involved in specialised jobs such as technology, compliance and risk management, have started leaving the bank fold in hordes, observes Tamal Bandyopadhyay.
Is there more than meets the eye to Kitex Garments, the world's second-largest children's garment producer, abandoning Kerala for Telangana?
They say better late than never. For the Tatas, the original owners of Air India, bringing back the airline to its fold is worth the wait even if the attempt to privatise the bleeding national carrier by successive governments has taken over two decades. While many airlines have come and gone from the Indian skies since the time when the first move was made to privatise Air India to date, the salt-to-software conglomerate has never let the love affair with aviation, more so with Air India that its former chairman Jehangir Ratanji Dadabhoy Tata (JRD) had, to go off the radar. It is said that Tata group executives used to complain in private that JRD -- the pioneer of the Indian aviation industry -- spent more time worrying about Air India than the Tata group when he was heading both the entities.
