SEBI
Miscellaneous Laws/News
Sebi closes cases against two firms
Sebi has
disposed of cases against two companies -- Pegasus Apparels and Haji
ManzoorAlam Industries -- related to alleged non-compliance with online
investor complaint redressal system. These companies had not obtained
SCORES authentication from Sebi within the mandated time frame. In two
separate orders, the regulator's Adjudicating Officer Suresh Gupta said
that since the requirement under Section 15C of the Sebi Act remains
unfulfilled, the allegations that the two firms [….] Read more at:
Five cos get Sebi nod for IPO, fund raising may hit Rs 2.5k cr
As
many as five firms, including Mahanagar Gas and Equitas Holding, have
received markets regulator Sebi's approval in New Year to launch their
initial public offerings (IPOs) to fund business expansion and meet
working capital requirements. GVR Infra Projects, GNA Axles and Maini
Precision Products too have got green signal from Sebi to float their
respective initial share-sale programme, according to a data compiled.
Together, these companies are expected to raise at least [….] Read
more at:
Public shareholding: Sebi refuses to lift curbs on Monotype
Markets
regulator Sebi today refused to revoke restrictions imposed on Monotype
India for its failure to comply with minimum public shareholding (MPS)
norms. The Securities and Exchange Board of India (Sebi), in June 2013,
had imposed various curbs on over 100 firms, including Monotype India,
its promoters and directors, for not meeting the minimum 25 per cent
public holding within the June 3 deadline of the same year. The
regulator had frozen the voting rights and [….] Read more at:
RBI
RBI expected to remain accommodative, says Kochhar
The
Reserve Bank is expected to remain accommodative in its monetary policy
this year and further rate cuts cannot be ruled out, top banker Chanda
Kochhar on Friday said, promising a further lowering of lending rates by
her ICICI Bank as deposit costs come down. "We believe that the policy
stance (of RBI) will continue to remain accommodative through the year.
Inflation could come under some pressure particularly with the
implementation of the Seventh Pay Commissi [….] Read more at:
Ex-CIC hails move to bring transparency in RBI's functioning
Former
CIC Shailesh Gandhi has hailed Governor Raghuram Rajan's move to bring
in transparency in the Reserve Bank's functioning, but cautioned that it
will happen only when RBI follows the Supreme Court's recent judgment
in letter and spirit with regard to furnishing information on commercial
banks. Drawing a parallel between Rajan's New Year message to the RBI
staff and the CIC orders against RBI between September 2011 and March
2012, Gandhi said, "In almost 10 cases of hearing, I [….] Read more
at:
France's Francois Hollande pushes for fighter deal in India
French
President Francois Hollande said his government was considering an
agreement with New Delhi that would clear the way for a long-awaited $9
billion sale of French-built Rafale warplanes to India. Francois
Hollande arrived in India on Sunday. During his visit he will try to
close the defence deal and to push forward with nuclear and solar energy
agreements, including a plan to build six French nuclear reactors in
western India. India's Prime Minister Narendra Modi has been trying to
[….] Read more at:
Dhawan replaces injured Kumar in India's T20 team
Paceman
Bhuvneshwar Kumar will miss India's three-match Twenty20 series in
Australia with a thumb injury and will be replaced by all-rounder Rishi
Dhawan, the country's cricket board said on Saturday. India also brought
in Gurkeerat Singh Mann, part of their one-day side in Australia, as
cover for Ajinkya Rahane, who split the webbing on his right hand while
fielding in Wednesday's ODI defeat in Canberra. In the same match, Kumar
fractured the thumb in his left hand trying [….] Read more at:
On China's main streets: A need to keep shoppers shopping
More
potential bad news for the global economic outlook: Chinese shoppers,
who largely propped up growth last year, are likely to trim spending
this year; dining out less often, delaying smartphone upgrades and
cutting out impulse buys. This will concern policymakers in the world's
second-largest economy who are already juggling with volatile stock
markets and flat-lining wage growth. China's economy grew at its slowest
rate in a quarter of a century last year, and analysts credited [….]
Read more at:
Google to pay $185 million UK back taxes, critics want more
Google
said on Friday it agreed to pay the UK tax authority 130 million pounds
in back taxes, prompting criticism from campaigners and academics who
said the UK tax authority had agreed a “sweetheart deal”. Google, now
part of Alphabet Inc, has been under pressure in recent years over its
practice of channelling most profits from European clients through
Ireland to Bermuda where it pays no tax on them. In 2013, the company
faced a UK parliamentary inquiry after a Reuters [….] Read more at:
Paris terror hurt sales numbers, Starbucks says
Temporary
changes in consumer behavior following the Nov. 13 terror attacks in
Paris had a big negative impact on Starbucks' business, according to the
company. In its earnings report for the prior quarter, the coffee
behemoth reported that in the Europe, Middle East and Africa region,
revenues dropped by 6 percent from the same quarter in the year prior.
Same-store sales in the region increased, but by just 1 percent, widely
missing analysts' expectations. In the earnings report itself, Starbu
[….] Read more at:
Economy & News
No stake for Goa government in proposed Greenfield Airport
The
Goa government will not hold any stake in the proposed greenfield
airport in Goa but will have board representation, with veto powers, in
the company that builds and runs it, civil aviation ministry officials
have said. This is departure from the practice of state government's
being part owners of the greenfield airports, such as those in Hyderabad
and Bengaluru and one proposed one in Navi Mumbai. "So, the state gets
the golden share in the project. Not fetching equity in the project
[….] Read more at:
World Economic Forum 2016: How Arun Jaitley and Raghuram Rajan tempered big expectations
It
is easy to get carried away by talk of India as the brightest spark in a
gloomy world in Davos. No major country is growing at over 7% a year
and if you are an Indian government official or a minister, you are more
than likely to have got a few pats on the back for keeping the hopes of
the world afloat. But the two top Indian officials in the Swiss
mountain resort, tasked with the job of selling the India story, handled
such laudatory references in the best way possible. Yes, India is
growing [….] Read more at:
WEF 2016: Economy on mend, many sectors growing, demand for home, car loans strong, says Chanda Kochhar
The
Indian economy appears to be coming out of the woods as many sectors
are seeing high growth and high levels of activity, ICICI Bank chief
executive Chanda Kochhar told ET in an exclusive interview in Davos,
Switzerland. Kochhar said that consumer demand for home and car loans
continues to be strong and production of coal and iron ore is also
rising due to measures taken by the government. Higher coal and iron ore
production is leading to higher demand for commercial trucks. [….]
Read more at:
After keynote speech by PM Modi, top ministers to talk business with Global Inc leaders
A
billion is not a small number — which is why the Economic Times Global
Business Summit 2016 is a special gathering. Over two days — January
29-30 — in New Delhi, the summit will witness an eclectic gathering of
global leaders of multi-billion-dollar businesses, political leaders who
shape the destiny of more than a billion Indians, and thought leaders
who shape the world view of the elite across the globe. In short, it
will be Davos redux on Indian soil. Don't take our word for it. After
pain [….] Read more at:
Pharma exports to developed nations become easier as government scraps 'No Objection Certificate' rule
The
Modi government's ease-of-doing business drive is set to benefit
India's drug manufacturers, especially companies such as Sun
Pharmaceuticals, Wockhardt, Ranbaxy Laboratories, Dr Reddy's
Laboratories and Cipla, which export their products to highly regulated
developed countries. The government has scrapped the requirement of
obtaining a 'No Objection Certificate' from the health ministry for
drugs exported to developed countries including the US, Canada, Japan
and Australi [….] Read more at:
Thanks & Regards,
Meetesh Shiroya
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