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MUMBAI: The optimum utilisation of the enhanced Rs 60,000-crore limit for issuing tax-free infrastructure bonds by companies seems unlikely. This is despite the government trying hard to boost infra development in the country by doubling the issuance limit for such bonds, which received a euphoric response in 2011-12. Firms...
MUMBAI: The government has opened the doors for qualified foreign investors (QFIs) to the developing corporate bond market in India. However, the country would need more than just higher yields to attract fund inflows from this segment. On Friday, Finance Minister Pranab Mukherjee had made the announcement when he...
MUMBAI: The unbridled freedom and powers given to tax authorities in this year’s Budget could spark a furious face-off in the coming months between companies determined to protect their profits in a slowing economy and an equally resolute tax department eager to wrest every last bit of revenue, experts...
NEW DELHI: A little-known Kolkata-based businessman is close to buying a majority stake in Rajasthan Royals for around $200 million, making it the first time an IPL team could change hands in the format’s brief yet eventful fiveyear history. Mannoj Kumar Jain, who heads the obscure Jain Group of...
MUMBAI: Rating agency Moody’s on Monday downgraded the rating for Union Bank of India (UBI) by a notch, owing to weak asset quality and inadequate loss-absorption capacity. The move comes a day before its shareholders meet to approve a proposal on issuing fresh shares to the government and Life...
Mumbai: The BSE benchmark Sensex today fell 193 points to 17,273.37, on sustained selling by funds against the backdrop of uninspiring budgetary proposals last weekend and a weak global market. Realty, power and capital goods sectors continued to slide as the stock market remained bearish for the third session in...
Stockholm, March 19: India is the world’s largest recipient of arms while South Korea is second and Pakistan and China are third in the list, reveals data on international arms transfers published by the Stockholm International Peace Research Institute (SIPRI). The volume of worldwide arms transfers in 2007-11 was...
Islamabad, March 19: The significant hike in India’s defence budget gives a “wrong message to its neighbours and perpetuates tensions in South Asia”, a leading Pakistani daily said Monday. An editorial in the Dawn said that India’s neighbours “must be alarmed” by yet another, sizeable rise in its defence...
New Delhi, Mar 19 (ANI): Commenting on the intense political drama over Railway Minister Dinesh Trivedi’s decision to hike passenger fares in the railway budget, and his decision to resign on Sunday after a four-day stand-off with the Trinamool Congress leadership, Communist Party of India (CPI) leader D Raja...
Indian shares fell for a third straight session to their lowest close in more than a week as continued concerns over the country’s fiscal stance hit sectors such as banking that are particularly sensitive to growth, while earnings worries hit technology stocks. The main 30-share BSE index provisionally fell...