Search Results for: foreign investors

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CPI slams UPA govt & Raghuram Rajan for filure to handle inflation

New Delhi, Oct 15 (ANI): Talking about the recent inflation facing the country, CPI leader D Raja on Tuesday said that the UPA government and its policies have completely failed to control inflation and has become insensitivity towards the problems faced by the people of the country. Further, he slammed RBI Governor Raghuram Rajan and his economic policies of inviting foreign banks to India as it can deteriorate the situation even more. Oct 15, 2013
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Fishermen killing: India's Foreign Ministry summons Pakistan envoy

New Delhi, Oct 15 (ANI): The recent killing of India's fisherman by patrolling marines of Pakistan on the high seas of international waters prompted Foreign Ministry to summon Deputy High Commissioner of Pakistan to India lodge a stern protest. Foreign Ministry Spokesperson Syed Akbaruddin condemned the incident wherein Pakistani Maritime Security Agency had shot dead one Indian fisherman and detained 30 others off Jakhau coast on Friday. Akbaruddin asked Islamabad to thoroughly investigate the incident and share its result at an early date. Oct 15, 2013
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US ship detained in Tamil Nadu, Foreign Ministry probe on

New Delhi, Oct 15 (ANI): The Indian authorities have commenced thorough investigation into 'illegal' weapons found onboard a ship operated by an US maritime security company, which was detained off the Tuticorin (Tuthukudi) port in Tamil Nadu. The ship was seized on Friday. India's Foreign Ministry Spokesperson, Syed Akbaruddin stated that the ship where 35 people were onboard was also detained for failing to produce papers authorising the vessel to carry weapons and ammunition in Indian waters. Among them were 10 crew members and 25 armed security guards. The crew and the ship will remain detained till the authentic documentation is submitted. Oct 15, 2013
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International Friendly Preview: Brazil vs Zambia

As other countries fight it out to qualify for the 2014 World Cup, already-qualified Brazil will look for another valuable practice match, this time against Zambia at the Bird's Nest Stadium in Beijing, on Tuesday evening. Oct 15, 2013
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Growth tapping men's grooming industry

New Delhi, Oct 12 (ANI): Men are becoming extra conscious about their appearance. They regularly visit spas and buy cosmetic products for self-grooming. The cosmetic industry in India is growing at a compound annual growth rate of 15 to 20 per cent. Bullish about the growth, Cosmetic and beauty product manufacturers are launching a variety of products for men. The young Indians are splurging on themselves and this spells good business for the industry. The Indian cosmetics market, which was traditionally a stronghold of a few major players has seen a lot of foreign entrants in recent times. Oct 12, 2013
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It happens: Durga Puja celebrations

Kolkata, Oct 11 (ANI): The Hindu festival of Navratri also known as Dussera is a period of joy and celebrations for devout Hindus across India. At Kolkata in eastern state of West Bengal where the event is of utmost significance among all including foreign tourists participated in the gala festivities on Sunday.The festival is celebrated with grand fervour in Kolkata with festivities commencing early in the day with consistent prayer sessions along with continuous supply of cultural programmes and mouth-watering delicacies. Devotees assemble at the closest make-shift tent to their home and participate in the elaborate prayer session, where priest chant hymns and perform several Hindu rituals. Several foreign tourists joined him at the function and they were seen playing traditional drums and experiencing the spirit of Navratri for the first time. Elsewhere in the culture-rich city, the state's Chief Minister, Mamata Banerjee also inaugurated a marquee, housing an idol of Goddess Durga. It is believed that during the days of Navratri, Goddess Durga descends on earth to rid it of demons and bless her devotee subjects with happiness and prosperity. During popular autumn festival of Navratri, nine forms of Devi (Divine Mother) are worshippe Oct 11, 2013
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SEBI to formulate rules for disclosures to curb errant trading: UK Sinha

New Delhi, Oct 10 (ANI): The country's capital markets regulator, Securities and Exchange Board of India (SEBI) is all set to formulate a new set of rules vis-a-vis disclosures by listed companies to curb errant trading of scripts such as insider trading and over or under rated deals. SEBI Chairman UK Sinha stated this in New Delhi on Thursday. He was speaking to the mediapersons on the sidelines of an event hosted by the PHD Chamber of Commerce and Industry. India, at present does not have any formal rules meant for dealing with the annulment of trades. Instead, stock exchanges across the country have devised their own guidelines. Recently, the SEBI took several measures to protect the interest of the investors. Oct 10, 2013
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IFC Launches $1 Billion Bond Program for India Projects

The International Finance Corporation (IFC), a member of the World Bank Group, has launched a $1 billion offshore bond program to strengthen India's capital markets and attract greater foreign investment in a time of renewed economic uncertainty across the world. Oct 10, 2013
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Bharti, Wal-Mart call off India joint venture

New Delhi, Oct 9 (ANI): World's largest retail chain Walmart Stores Inc and Sunil Mittal-led Bharti Group have called off their six-year old alliance in India and will own and operate separate businesses in the country. Wal-Mart, tied up with Bharti in 2007 and had been the most vocal proponent of prying open India's restrictive retail market to foreign supermarket operators. However, its growth in India has been hindered by still-evolving rules on foreign investment, an internal bribery probe, and, more recently, the faltering partnership with New Delhi-based Bharti. Under terms of their breakup, Wal-Mart will acquire Bharti's 50 percent stake in Bharti Wal-Mart Pvt Ltd, which runs about 20 wholesale stores in India under the Best Price Modern Wholesale brand, and will run the business independently. Oct 9, 2013
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Cabinet gives nod to Jet Airways-Etihad deal

New Delhi, Oct 04 (ANI): Paving the way for the biggest foreign investment in India's aviation sector, the union cabinet of India has approved a $330 million deal by Abu Dhabi's Etihad Airways to buy a stake in Jet Airways, taking the companies one step closer to complete the long-delayed deal. India’s Aviation Minister Ajit Singh confirmed this in New Delhi and said that the deal would benefit passengers at large. Etihad had agreed in April to buy a 24 percent stake in Jet in the first such deal since the government relaxed rules in September 2012 to allow foreign airlines to own up to 49 percent of Indian carriers. Oct 4, 2013
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