Finance Minister Jaswant Singh on Tuesday approved 23 foreign direct investment proposals involving Rs 40.76 crore (Rs 407.6 million) including that of US-based Pitney Bowes to set up a wholly-owned subsidiary in India.
Indraprastha Gas on Tuesday said it has obtained the approval of FIPB for transfer of equity shares to non-resident Indians, foreign institutional investors and foreign venture capital funds in its proposed initial public offer.
Proposals of Principal Financial Group, South African Breweries, AB Electrolux and Caterpillar Inc were among the 52 foreign direct investment cases totalling Rs 321 crore (Rs 3.21 billion) approved by the government on Thursday.
Indian brokerage arm of global investment banker Morgan Stanley has sought RBI's approval to start proprietary trading under which it will be able to buy and sell securities on its own account.
Speaking at the 2013 CAPA Australia Pacific Aviation Summit held in Sydney, Abu Dhabi-based Etihad Airline's President and CEO James Hogan said, "We are delighted to welcome Air Serbia to our equity alliance, and look forward to receiving final approvals from regulators in India of our investment in Jet Airways," he added.
The government on Tuesday cleared 34 foreign direct investment proposals worth Rs 617.28 crore, including Zee Telefilm's plans to issue Rs 480 crore foreign currency convertible bonds to two foreign companies.
Coca-Cola's proposal for giving its shareholders differential voting rights after it recently completed divestment of 49 per cent equity in favour of resident Indians is still pending with the government, company sources confirmed on Thursday.
The government on Monday cleared 18 foreign direct investment proposals involving Rs 118.93 crore including Standard Chartered Private Equity's plan to pick up 14.35 per cent stake in NDTV for Rs 52.88 crore.
With the shifting of the Foreign Investment Promotion Board to the finance ministry, the government has now reconstituted the board appointing Finance Secretary S Narayan as its chairperson.\n\n\n\n
Japanese car major Toyota Motor Corporation plans to set up an engine assembly plant in the country and has sought government approval for the proposed venture.
Foreign Investment Promotion Board is understood to have deferred, two weeks, any decision on NDTV's proposal to offer 34.28 lakh fresh equity shares, aggregating Rs 52.88 crore.
Divestment ministry is believed to have received an in-principle nod from FIPB for participation of FIIs, NRIs, and OCBs in the ensuing public offer government equity in car-maker Maruti Udyog Limited.
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At the close of trade, telecom stocks ended with as much as 4.3 per cent loss.
Addressing the BRICS investment seminar in Mumbai ahead of the 5-nation Summit in Goa on October 15-16, Jaitley said the government has put FDI on automatic route in almost 90 per cent of the areas that are eligible for foreign direct capital.
The government on Tuesday cleared 26 proposals envisaging foreign direct investment worth Rs 16.08 crore (Rs 160.8 million) including a Rs 5.03 crore.
Financial power-house JP Morgan's Rs 175 crore (Rs 1.75 billion) investment in its Indian arm was among the 44 foreign direct investment proposals worth Rs 222.19 crore (Rs 2.22 billion) cleared by the government on Tuesday.\n\n\n\n
The government has permitted Teva Pharmaceuticals of Israel and its Dutch subsidiary to together invest $8 million to acquire Regent Drugs from J&K Drugs and Pharmaceuticals.\n\n\n\n
The former beat Nikhil Kanetkar while defending champion Gupta beat SDS Krishna in the Senior National badminton championships.\n\n
The government is believed to have permitted Japanese major Sony to undertake cash and carry wholesale trading in India for a range of hi-tech products.
Grandmaster Sandipan Chanda also tallied an identical 17.5 points in the 23-round event, but Ganguly won on a superior tie-break score.
The father-son duo are in the radar of the probe agencies in another case concerning the Aircel-Maxis deal.
This can mean companies like Apple, Zara can sell in India through wholly-owned subsidiaries
The Foreign Investment Promotion Board is believed to have cleared the proposal of the Netherlands-based Star Diamond group to set up a joint venture in India to undertake diamond business.
The government on Thursday cleared 47 proposals envisaging Rs 285 crore (Rs 2.85 billion) foreign direct investment, including a proposal by Hewitt Associates to set up a 100 per cent subsidiary in India with Rs 120 crore (Rs 1.2 billion) investment.
The government has approved 23 foreign direct investment proposals including the Rs 460 crore (Rs 4.60 billion) plan of Shell Gas BV to set up a 100 per cent subsidiary in India to market transportation fuels.
The former finance minister's only child was arrested at Chennai airport.
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