Tue

24

Dec

2013

India Says New Foreign Investment Rules Will Maintain Fii Tax Sops

India had approved new rules in October aimed at streamlining the registration process for foreign investors according to which overseas investors will be classified into a newly created foreign portfolio investors category as long as their equity stake in a company does not exceed 10 percent. The Securities and Exchange Board of India (SEBI) said it had received approvals from the Department of Economic Affairs and the tax department to extend the same tax benefits to the new class of investors. SEBI also approved rules announced earlier this year that will allow companies to issue website debt through a shelf filing, along with regulations empowering it to monitor investors' call records and conduct searches at companies suspected of wrongdoing. The approvals came after SEBI's last board meeting for the year. The regulator also revised rules that mandated companies to get their initial public offerings graded by a credit rating agency before going to the market. Investment bankers had opposed the rules that came in three years back, partially blaming the stringent requirement for the dormant IPO market.
Read more: http://www.reuters.com/article/2013/12/24/india-sebi-board-idUSL3N0K31TU20131224

India’s ‘Modi Wave’ May Lose Momentum

Though the rebels have not taken moved here over the oil fields yet, New Delhi decided to move its staff out as a precautionary measure, reports said. Fighting has intensified since December 15 between Machars rebels and forces loyal to President Salva Kiir resulting in 500 deaths, including Indian soldiers attached to UN peacekeeping forces in the country. Clashes have occurred following the fallout between Machar and Kirr leading to the vice-presidents dismissal from office in July this year. Telugu community more... stranded Meanwhile, reports said about 150 Indians belonging to the Telugu-speaking community of southern Indias Andhra Pradesh state are stranded in the conflict-wracked country. A local Telugu association is making arrangements to get them across the border to Uganda, said a report in the Times of India newspaper. The report quoted the stranded people as having difficulties communicating to families back in India. But they were able to do so finally, much to the relief of their families.
Read more: http://www.aljazeera.com/news/2013/12/india-evacuates-nationals-from-s-sudan-201312249260142950.html

Its appeal cuts across class, caste and community -- unlike that of the Congress or the BJP, both of which pander to narrow interest groups to one degree or the other. Although the demand for a Lokpal , or national ombudsman, to tackle corruption in high places has been the most visible manifestation of this disaffection, there is simmering resentment on many issues that affect ordinary Indians. The AAP and its charismatic leader, Arvind Kejriwal , have tapped into this discontent by putting forward a simple thesis: Nothing will change as long as politics is monopolized by the privileged. Consciously avoiding being labeled left or right, the party has come up with an agenda that is arguably one of the most progressive in India today. New parties have made dramatic debuts in the past. But they tended to articulate the interests of a specific region or section of the population and thus had limited national impact. The rise of an alternative that is empowering and inclusive in its platform, as well as electable, is a dramatic new development.
Read more: http://www.bloomberg.com/news/2013-12-23/india-s-modi-wave-may-lose-momentum.html

U.N. approves India's request to accredit diplomat charged by U.S.

That helped it achieve annual economic growth of more than 9 percent four times over the past decade, according to data compiled by Bloomberg. Stocks Gain Indias benchmark S&P BSE Sensex (SENSEX) extended gains for the third day, increasing 0.1 percent at 10:25 a.m. in Mumbai. The rupee, which has lost 11 percent against the dollar in the past year, strengthened 0.2 percent to 61.845. Indias economy has expanded at a rate below 5 percent for the past four quarters, while the highest consumer-price inflation since India began tracking the gauge last year has increased the cost of everything from onions to clothing. Even so, the BJPs performance running state governments may not translate to success in governing the entire country, said Mohan Guruswamy, chairman of the Centre for Policy Alternatives in New Delhi. All of the states are under-performing, spending more than theyre raising in revenue, said Guruswamy, an adviser to the Finance Ministry under Yashwant Sinha, who ran it from 1998 to 2002 under BJP-led governments.
Read more: http://www.bloomberg.com/news/2013-12-24/india-opponents-seeking-9-growth-cite-thatcher-in-vote-push-1-.html

India Opponents Seeking 9% Growth Cite Thatcher in Vote Push

Khobragade as a member of the Permanent Mission of India to the U.N.," a U.N. source said on condition of anonymity. "However, the final stop in the process is the U.S. (State Department)." Khobragade's arrest on December 12 has enraged India, which is demanding that all charges be dropped against her. She was strip searched when arrested in what the U.S. Marshals Service said was a routine procedure site imposed on any new arrestee at the federal courthouse.
Read more: http://www.reuters.com/article/2013/12/23/us-india-usa-un-idUSBRE9BM0P320131223

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