MUMBAI, Apr. 20 – The ubiquitous Premier Padmini, the tiny black taxi derived from the 1957 Fiat 1200, is to be phased out. The Bombay High Court ruled last week that taxis over 25 years old must be taken off the road by the end of the year. The ruling comes a year later than[…..]
Apr. 17 – Foreign private equity investors are looking to snap up good deals in the Indian real estate market by buying heavily discounted properties affected by the slowing economy. Investors from the EU and Middle East are expected to invest US$400-US$500 million in distressed land deals, reports The Economic Times. Namely Spain’s Nova Capital;[…..]
Apr. 16 – The largest democracy in the world, with about 714 million voters, began their month-long elections today in the first of five phases. Citizens will cast their vote to decide their nation’s future from hundreds of political parties composed of politicians up for reelection and celebrities. It is expected that more young people[…..]
Apr. 15 – The largest exchange in the world, the Chicago Mercantile Exchange (CME), has held talks to possibly enter the Indian market through the purchase of equity stakes in the Indian exchanges. According to the Business Standard, CME has already talked with several Indian exchanges to purchase stakes. The group is also talking to[…..]
Commentary: Chris Devonshire-Ellis Apr. 14 – The ability for Indian chartered accountants, cost accountants and company secretarial practices to obtain limited liability partnership status will take some time, even though the government has initiated the process. Despite the government approval, the three regulators concerned, the Chartered Accountants of India (ICAI), the Institute of Cost and[…..]
Apr. 13 – Foreign direct investment (FDI) to India for the fiscal year starting April 2008 to February 2009 amounted to US$25.38 billion; a higher figure compared against the previous year’s US$24.57 billion. Expansion remained active throughout the period despite the global credit crisis. During the crisis’ height, FDI flow to India from September to[…..]
Apr. 10 – In order to attract increased revenues into long term investments and reduce the burden of importing 75 percent of its annual crude oil requirements, the Indian government is stepping up oil and gas exploration to boost production.
Apr. 9 – Indian automobile exports exceeded domestic sales during the financial year April-March 2009, as liquidity dried up and the rupee lost its sheen.