Other Briefings
Standard Chartered to Raise US$500 Million in Mumbai Listing
Mar. 31 – Standard Chartered Bank is poised to obtain the first foreign company listing in India with its submission of a draft prospectus to the Indian Stock Exchange. The bank aims to raise US$500 million through issuance of the first Indian Depository Receipt (IDR), a move which will allow Indian investors to buy into […]
India Clears FDI Proposals Worth More Than US$510 Million
Mar. 30 – The government has cleared 23 foreign direct investment proposals amounting to more than Rs.23.25 billion, or about US$510 million. The highest FDI proposals came from broadband services provider Tikona Digital Network followed by components maker Bharat Forge and medical device maker Opto Circuits. “The Union Government has approved 23 FDI proposals amounting […]
Huge Oil Find in Rajasthan
Mar. 23 – Sources from India’s Ministry of Petroleum and Natural Gas indicated that Cairn India has discovered massive new oil reserves in Rajasthan that could increase India’s domestic oil production by about 23 percent next year reports The Economic Times. The company is expected to make an official announcement shortly. Cairn India extracts oil […]
India to Open Nine US$1 Billion Road Projects for Bidding
Mar. 23 – India is opening nine road projects worth more than US$1 billion each for bidding in the coming months in an effort to improve its underdeveloped infrastructure sector. India is one of the major emerging economies in the region with various untapped business opportunities for foreign investors. The upcoming road projects are expected […]
Hotel Tax Holiday Extended to July 31
Mar. 19 – The Indian government has extended the five-year tax holiday for hotel projects from March 31 to July 31 in an effort to stimulate development in the industry prior to the Commonwealth Games in October. The five-year tax holiday previously applied to hotels finished and operational from April 1, 2007 to March 31, […]
Qualcomm to Enter Broadband Wireless Auction in India
Mar. 18 – Qualcomm announced on Wednesday that it will be entering India’s upcoming auction in an effort to gain access to the country’s broadband wireless spectrum. India’s government plans to auction off two slots of bandwidth set aside for wireless technology during the auction with bidding for one slot starting at US$386 million.
Indian Companies Forecast to Create 1 Million Jobs
Mar. 11 – Indian companies are expected to resume hiring from April to June with the organized sector forecast to create one million jobs by 2011 backed by the strength of the improving economy according to two global employment trend surveys. According to the Employment Outlook Survey compiled by the human resources consulting firm Manpower, […]
New Construction Services Tax to Increase Real Estate Prices
Mar. 9 – A proposal to implement a construction tax under the new services tax will invariably hike prices for real estate projects still under construction or pending approval from authorities. The tax would apply to the construction of complex service or commercial or industrial construction services as well as services offering premium prices based […]
