Most investors to UAE’s Jafza came from India

DUBAI: Largest number of foreign investors to the Jebel Ali Free Zone (Jafza) in the UAE came from India in 2013, followed by China, the UK and the US, according to the entity. In 2013, 30 per cent of the new companies came from developed and developing economies of Asia, 29 per cent from Europe […]

NEW DELHI: As market regulator Sebi examines allegations of Maharishi Vedic Construction Corporation collecting money from public investors violating norms, the company claims it has not taken any public deposits. The company also said this could be a case of “mistaken identity” and it was “much confused” on what basis Sebi was connecting it with […]

RIL discoveries approved without appraisal: CAG

NEW DELHI:In a damning indictment, the CAG has said Oil Ministry and its technical arm DGH approved notification of now flagging gas discoveries in Reliance Industries’ KG-D6 block despite the company not doing enough appraisal. RIL had found gas in the Dhirubhai-1 and 3 wells in October 2002 and were declared commercially viable finds between […]

FIIs infuse `3,000 crore in Indian equities in past week

NEW DELHI: Overseas investors pumped in over Rs 3,000 crore in the Indian stock market in the past week mainly on hopes of a strong mandate for the government to be elected in polls starting next month. Foreign institutional investors (FIIs) were gross buyers of shares worth Rs 18,944 crore and sellers of stocks to […]

Wrong estimates affect mobile towers projects in naxal-hit areas

NEW DELHI: Progress in the Rs 3,046-crore mobile phone towers project in naxal affected areas across nine states is stuck due to wrong estimates by the Department of Telecom, official sources say. BSNL, which has to implement this project, has brought this “arithmetical error” to the DoT’s notice. There is a difference of about Rs […]

5th international ‘Buyer-Seller Meet’ begins

5th international ‘Buyer-Seller Meet’ begins

SRINAGAR: With an aim to promote and find new markets for the world famous Kashmir handicrafts, the fifth international ‘Buyer-Seller Meet’ in which more than 75 foreign participants from about 25 countries are participating has commenced here on Saturday. The three-day meet organized by Kashmir Chamber of Commerce and Industries (KCCI) will conclude on Monday, […]

J&K’s deficit on constant rise, says Principal Accountant General

J&K’s deficit on constant rise, says Principal Accountant General

JAMMU: Expressed his dismay over the diversion of plan grants for non-plan purposes by the Jammu and Kashmir government, the Principal Accountant General Audit (PAG), Subhash Chander Pandey Saturday said ‘J&K’s own deficit is on a constant increase and the revenue deficit has not been brought down as required by the FRBM Act’. Pandey was […]

SBI mulls selling bad assets to ARCs in Jan-Mar quarter

KOLKATA: India’s largest bank SBI is considering partial sale of non-performing assets to asset reconstruction companies. “We are considering some proposals to sell NPAs in the current quarter (Jan-Mar 2014). This is the first time we would be selling NPAs to ARCs,” SBI chairman Arundhati Bhattacharya said here on Saturday. NPA reduction is a major […]

Japan sees future business in Fukushima cleanup

CHIDAMBARAM There is something surprising in the radioactive wreck that is the Fukushima Dai-ichi nuclear power plant: opportunity. To clean it up, Japan will have to develop technology and expertise that any nation with a nuclear reactor will one day need. Eyeing dozens of ageing reactors at home and hundreds of others worldwide that eventually […]

Govt to set up inflation target, RBI to implement: Chidambaram

NEW DELHI: The government of India has the right to set the country’s inflation target, while the Reserve Bank of India’s (RBI) role is to implement the decision, Finance Minister P Chidambaram said in a joint news conference with the RBI governor. The comment by Chidambaram comes after a RBI panel in January proposed moving […]