Loan approval marks EIB's first direct exposure to a plant in India.
India has earned the dubious distinction of being the country adding the maximum teeth to its tax regime since last year, says a study by Forbes.
After months of negotiations, Tata Motors-owned Jaguar Land Rover is likely to get approval for a loan of pound 270 million (about Rs 2,000 crore) from the European Investment Bank on April 7, BBC reported on Saturday quoting official sources.
The International Monetary Fund will launch a donor-supported fund to combat money laundering and terror fund, a growing menace in the financial world.
Spain, who won Euro 2008 with a series of superb performances culminating in their victory over Germany in the final, are ranked number one in the world and were grouped with Czech Republic, Scotland, Lithuania and Liechtenstein.
Former West Ham chairman Eggert Magnusson has sued the Premier League club and its owner Bjorgolfur Gudmundsson for breach of contract, Icelandic state television reported.
India's biggest steelmaker Tata Steel is set to merge its British unit Corus with itself by next year to save costs up to 350 million pounds, and the move is likely to put thousands of jobs at risk, a media report has said.
The number of FIIs registering with Sebi this year touches six-year low.
The company signed an agreement with Jharkhand government in October 2005 to set up a Rs 40-crore steel facility and in December 2006 for an identical plant in Orissa. Mittal, however, asserted that the company's 'long term strategies for India is unchanged' and any short-term delay would not change the overall long-term plans for the country.
NRI steel tycoon L N Mittal on Wednesday said valuation of steel companies in India had come down significantly but there were no sellers.
Steel tycoon Lakshmi Mittal on Wednesday asked investors not to be perturbed by the fall in valuation of ArcelorMittal saying he is the largest stakeholder and is interested in creating more wealth for shareholders.
NRI steel tycoon Lakshmi Mittal has suffered a $50 billion decline in the value of shares he holds in the ArcelorMittal following the global financial meltdown, a leading economic daily has claimed.
The Indo-Pak pair beat Michel Kratochvil and Gilles Muller 7-6 (8), 6-3 to win the Segovia Challenger.
Jaimini Bhagwati assesses the key points in RBI's discussion paper on new bank licences.
Koneru Humpy was held to a third successive draw in the Kaupthing Open International Chess Tournament in Luxembourg.
Despite splitting the point the Indian ace shares the lead with the Czech Grandmaster.
Thomson holds 10 per cent stake in Videocon Industries through global depository receipts listed on the Luxembourg Stock Exchange. Thomson had acquired 13.5 per cent in Videocon in 2005 for Rs 1,250 crore (Rs 12.5 billion) of which 10 per cent was locked in for three years.
They went down 1-6, 4-6 to Hanley and Ullyet in the Artois Championship.
Andy Murray, Venus Williams and Kim Clijsters romped through to the next round on Friday at the US Open.
But he is actively pursuing greenfield steel plants in Karnataka and Jharkhand; ultimately, only one of these might come up.
"It is a half-baked law, but we support it as our party favours stringent laws to defend national security," Nishikant Dubey (BJP) said initiating the debate on the Foreign Contribution (Regulation) Bill, 2010, already passed by the Rajya Sabha.
Justine Henin eased to a 6-1, 6-3 victory over Alona Bondarenko in the rain-delayed final of the Warsaw Cup.
Carlos Sastre became the third successive Spaniard to win the Tour de France on Sunday in another major sporting triumph for his country this year. Australian Cadel Evans finished second overall, 58 seconds behind Sastre, who effectively secured victory on Saturday after resisting Evans in the decisive time-trial.
Indian wild card Prakash Amritraj battled his way into the final of the $385,000 Hall of Fame Tennis Championships, beating seventh-seeded Canadian Frank Dancevic in Newport, Rhode Island, on Saturday. The Indian Davis Cupper, whose father Vijay had won three Hall of Fame Championships, won the semi-final 7-6 (7-4), 4-6, 6-3.
Spain's Luis Leon Sanchez claimed his maiden Tour de France victory when he took the seventh stage with a bold solo attack in the finale of a 159-km ride from Brioude to Aurillac on Friday.
Italian Riccardo Ricco won the sixth stage of the Tour de France on Thursday while Luxembourg's Kim Kirchen seized the overall leader's yellow jersey. The Giro d'Italia runner-up, also known as "The Cobra", attacked in the final metres of a category-two climb to Super-Besse to beat Spain's Alejandro Valverde and Australian Cadel Evans, second and third respectively.
German Stefan Schumacher caught the favourites out to snatch the Tour de France overall leader's yellow jersey with victory in the fourth stage, a 29.5-km time trial around Cholet on Tuesday. The Gerolsteiner rider clocked a best time of 35 minutes and 44 seconds on a windswept course at an average speed of 49.534 kph to beat Luxembourg's Kim Kirchen of Team Columbia by 18 seconds.
Prakash Amritraj put up a brilliant fight back to advance to the singles second round of Campbell's Hall of Fame Tennis Championships.
Grandmaster Parimarjan Negi put up a creditable show at the World Open Chess tournament but narrowly missed the title after losing to higher-rated Russian GM Evgeny Najer in a tie-break in Philadelphia.
Spain's Mikel Astarloza used his climbing and downhill skills to win the mountainous 16th stage of the Tour de France on Tuesday as the leading contenders unsuccessfully tested each other out. Spaniard Alberto Contador retained his leader's yellow jersey one minute 37 seconds ahead of team mate Lance Armstrong with Briton Bradley Wiggins third, 1:46 behind.
Alberto Contador proved time was on his side when he outclassed seven times champion Lance Armstrong and the rest of the peloton to seize the Tour de France lead in the Alps on Sunday. The Spaniard surged ruthlessly with six kilometres left in the 207.5-km 15th stage to the Swiss ski resort of Verbier to collect the stage laurels and his first yellow jersey since his 2007 victory in Paris.
The wildcard duo of Rohan Gajjar and Purav Raja lost to the Kuwaiti-Ukrainian pair of Mohammed Ghareeb and Ilia Marchenko in the last four of the ATP Challenger in Delhi.
Top seeds Rohan Bopanna and Aisam Qureshi bowed out of the US $50,000 ATP Challenger Series in New Delhi after losing 2-6, 3-6 in the first round to the unseeded combination of Prakash Amritraj and Rajeev Ram at the DLTA.
Simplification of India's tax codes including stamp and other duties has to be an end objective by itself and the introduction of DTC and GST should not be delayed by protracted discussions.
Out of 150 India equity funds, 89 have outperformed Sensex.
"The most prominent suitors continue to be Russian producers, although India's Essar Group also has been mentioned prominently, according to market sources," the Metal Bulletin (MB) reported, adding that Essar has been the most recent company to express interest and has begun negotiations with Luxembourg-based ArcelorMittal.
The first government sukuk was listed on the London Stock Exchange as Britain reaffirmed its reputation as the main western centre for Islamic finance. Bahrain chose London to list its second Islamic bond as it sought to encourage more European and conventional investors to buy the paper. The Gulf kingdom listed its first sukuk in Luxembourg in 2004. Significantly, more than 50 per cent of the paper was bought by European investors.
American wildcard Vania King came from a set down to beat Anne Kremer in the Pacific Life Open first round.
Mauritius has rejected compensation of Rs 500 crore to plug loopholes in double taxation avoidance treaty. Mauritius accounts for nearly half of all foreign direct investment (FDI) inflows to India. With the tightening of tax laws, India attempted to amend the treaty. Due to the treaty, India was suffering over Rs 4,000 crore loss annually for some years in terms of revenue foregone on account of the capital gains exemption for investors routing their funds through Mauritius.
Dubai-headquartered Baer Capital Partners is planning to launch 2 India-centric hedge funds this year. The two funds - Beacon India Opportunities Fund with a corpus of $400 million and the $100 million Beacon India Growth Fund - will invest in listed companies. It is also planning an exclusive $100 million FMCG fund. These funds will invest across sectors including IT, pharma, FMCG, banks and auto. It has got approval from Sebi. These funds will not involve momentum trading.
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