Dev
Property Raises Rs.1, 200 Crore from AIM - London
Wednesday, January 31, 2007: Dev Property,
an arm of Indiabulls, raised Rs.1, 200 crore on London's Alternative
Investment Market to invest in Indiabulls-backed real estate projects
in India. This follows the trend set by established real estate
developers Rahejas, Hiranandani and Unitech. The Khmekas and UK's
Apollo group recently generated $630 billion from the LSE for
investment in real estate.
NRI
Investment in Farmhouses Now a Possibility
Tuesday, January 30, 2007: The Foreign
Exchange Management Act (FEMA) restricts Non
Resident Indians and foreign investors from investing
in the agricultural sector, including farmhouses. However, if
the recommendation of the Associated Chambers of Commerce and
Industry of India (ASSOCHAM) study is anything to go by, overseas
Indians could soon be able to own farmland property.
RBI
Cautions Real Estate Projects
Monday, January 29, 2007: In a move
to protect the Indian real estate market, the Reserve Bank of
India has indicated its reservations on External Commercial Borrowings
(ECB) in realty projects involving integrated townships of 25
acres. The Department of Industrial Policy and Promotion had earlier
permitted FDI in March 2005 in real estate in projects of a minimum
area of 25 acres.
Global
Investors Choose India over China
Monday, January 29, 2007: In the highly
competitive and booming market, even countries are poised to lure
global investors with attractive options. A recent study by Merrill
Lynch Global Private Client has revealed India as
the first choice for foreign investors. The study even cites the
example of non-institutional and retail investors eyeing India
as a more rewarding market than China, and has called for more
investor-friendly initiatives from the government.
India
- A Hot Favorite for Cross-Border Investments
Thursday, January 25, 2007: In a survey
conducted by the Association of Foreign Investors in Real
Estate, (AFIRE) based in Madison, USA,
India has emerged as the country with the second highest potential
for real estate capital appreciation. Climbing four notches up
from sixth place in 2005, it threatens number one on the list,
the USA, and has narrowed the margin between first and second
spot by 5%.
Prudential's
Increased Outlay for India
Thursday, January 25, 2007:Prudential
Plc divulged its aggressive strategy for augmenting its investment
in India. On the sidelines of its first board meeting
in India, the group chief executive Mark Tucker said existing
investment in all its segments would be increased. Appreciating
the government's open policies on insurance, the chief executive
remarked that the company was focusing on the Indian market to
develop its business.
Unitech
Enlists Support from Goldman Sachs
Wednesday, January 24, 2007:Unitech,
Gurgaon’s well-known real estate developer, has received
support from Goldman Sachs, the New York-based global investment
bank to float a Special Purpose Vehicle (SPV) for investments
in Indian realty.
Credit-Suisse
to Enter Indian Real Estate
Tuesday, January 23, 2007:An specific
fund for the Indian realty sector from Zurich-based Credit
Suisse is on the cards. Sources in the industry expect
a $1 billion fund from the world’s leading financial house
to be announced in the next financial year, though the bank’s
officials remained tight-lipped about its plans.
Caparo
Group Takes Over Sheet Metal Firm
Tuesday, January 23, 2007:The Caparo
group has completed the formalities for takeover of the
sheet metal business of International Auto Ltd (IAL).
IAL has a combined capacity of 16,000 tonnes
of sheet metal at their Pune and Jamshedpur units. It employs
300 people and has an annual turnover of Rs.72 crore.
Merrill
Lynch Moves to Tap Vast Indian Market
Monday, January 22, 2007:Till now focused
on managing the funds of NRIs
to augment its Rs.10,000 crore business, Merrill Lynch is now
turning its attention to high net worth individuals within India.
Khajuraho
Meet Ends Satisfactorily
Monday, January 22, 2007:The Investors
Meet organized by the Madhya Pradesh Government in Khajuraho concluded
on January 16, 2007 with the total investment commitment
notching up to the projected. Rs. 400 billion figure.
NRI Election
Mela
Monday, January 22, 2007:The elections
to the 117-member state assembly in Punjab cross the boundaries
of the state. With a sizeable Punjabi presence in the UK,
USA,
Europe and south Asia, the influence of this non resident population
on elections to the state legislative assembly is considerable.
Dev
Property goes Public on LSE (London Stock Exchange)
Sunday, January 21, 2007:After Unitech,
K.Raheja and Hiranandani, it is now the turn of Dev Property Development
to raise capital on the London Stock Exchange. The company is
providing for projects in residential and commercial
properties in Mumbai,, Delhi, Kolkata, Chennai, Bangalore
and Hyderabad, as well as in SEZs.
NRIs
to Bihar’s Rescue?
Friday, January 19, 2007:Are things
looking up in Bihar? Well, if the bustling energy and enthusiasm
of NRI Ravi Verma, CEO of California based Telecommand Software
and Services is anything to go by, Bihar could well see a change
in fortunes.
Is Paying
Tax Going to be Headache for NRI in UAE?
Thursday, January 18, 2007:Confusion
over tax paying liabilities of Indians serving in the UAE
is likely to be sorted out between the Indian and UAE governments
shortly.The burning question is: Does the Indian working in the
UAE enjoy the privileges of the "India-UAE Tax Treaty"
even if he is not paying tax there?
Making
Indian Laws Valid to PIOs
Thursday, January 18, 2007:Erring husbands
residing overseas may well be brought to book if the Indian Government
succeeds in incorporating Indian laws protecting abandoned women
in the existing treaties with the USA
and UK.
Finance
Minister Cautions Industry to Keep Inflation at Bay
Wednesday, January 17, 2007:At FICCI's
79th annual general meeting in New Delhi last week, India's Finance
Minister P.
Chidambaram warned industrialists to keep costs of manufacturing
low in order to maintain prices. He expressed the view that "The
economy could not afford even a 4% inflation rate, and it was
the businessman’s responsibility not to hold back supply".
He was referring to artificial supply constraints being created
to push up prices by a section of industry to make the most of
the buoyant economy.
NYSE
Buys 20% Stake in NSE
Tuesday, January 16, 2007:The New York
Stock Exchange (NYSE) has been following a policy of investing
in emerging markets, and the latest purchase is a 20% share in
the Mumbai-based National Stock Exchange (NSE). This deal will
give the NYSE access to stocks and derivatives in the Indian market
and attract major Indian companies to list with it. Presently,
NYSE’s rival NASDAQ Stock Market Inc. has key Indian companies
on its listing.
Merrill
Lynch Drives NRI Investments
Tuesday, January 16, 2007:Leading wealth
management, capital markets and advisory company Merrill
Lynch announced two key appointments to further
its NRI
business. As an investment bank and global trader, the company
has ambitious plans for tapping wealth locally, and from the 25
million-strong NRI clientele overseas.
University
for NRIs: Only 2 Months Away
Tuesday, January 16, 2007:The Minister
promised a university
for NRIs in two months, to be set up in a special
economic zone, with the status of a deemed university. The fees
would be affordable, and cater to even the not very affluent NRI
who seeks quality education back home.
The
Non Resident Indian
Monday, January 15, 2007:The Non-Returning
Indian was the butt of many a joke in one of Bollywood’s
major hits two years ago. And we RIs (resident Indians) picture
each one of those 25 million living abroad with India links to
be rolling in greenbacks, and bubbling with emotion for their
homeland. Do all NRIs miss India? Are they proud of their country?
Punjab
NRIs Seek More Commitment From State and Central Governments
Monday, January 15, 2007:The Punjab
Government hosted the 4th Pravasi Punjab Divas on 11th January
in Chandigarh. NRIs at the meet were ready to make large investments
in their native land, but complained that the government’s
insipid response was often a deterrent for them.
Is
Anyone Listening?
Monday, January 15, 2007:Dr.
Binay R. Shetty is one of those very committed NRIs
with a burning desire to play a role in India’s burgeoning
economy. Confident of raising $100 billion overseas for investment
in India’s roads, railways, homes and education, Dr. Shetty’s
business interests overseas encompass the health sector.
NRI
Investments in India
Monday, January 15, 2007:The just concluded
5th Pravasi Bharatiya Divas in New Delhi left the 1500 delegates
attending the conclave optimistic about India’s efforts
towards a developed economy.
Real
Estate in India - Flush with Funds
Thursday, January 11, 2007:The real
estate market is flushing with funds from overseas. Eager to cash
in on opportunities in India, major asset management firms from
abroad are investing in the local market. Industry sources say
over 90 foreign investors are already in the country tapping investment
avenues.
Prez
Kalam Wins Over NRI Audience
Wednesday, January 10, 2007:On the occasion
of the Pravasi
Bharatiya Divas being organized by the Ministry of
Overseas Affairs, the Delhi Government and the Confederation of
Indian Industry (CII), the annual Pravasi Bharatiya Divas awards
were conferred on 15 overseas Indians.
Investment
Opportunity for NRIs
Wednesday, January 10, 2007:7th January
2007 marked the gala of the Fifth Pravasi Bharatiya Divas with
all pomp and show. Addressing the gathering of NRIs and PIOs on
the second day of the Pravasi Bhartiya Divas in New Delhi yesterday,
External Affairs Minister Pranab Mukherjee welcomed the community
to play a vital role in the balanced economic development of the
country.
Government
Pledges Support to NRIs
Wednesday, January 10, 2007:Recognising
the contribution to the Indian economy made by 25 million strong
NRI
community spread across 130 countries, Prime Minister
Manmohan Singh has concrete plans up his sleeve to encourage them
to further discover their roots and extend their branches.
Increasing
Transparency in Infrastructure to Compliment India’s Growth in
2007
Wednesday, January 10, 2007:Driven by
economic growth, the real
estate in India has really emerged as the hottest
market to invest last year. But, will it be apt to consider
the same to happen in 2007? This is one of the questions that
every potential investor as well as property developer is pondering?
As per industry soothsayers, there are seldom chances for
the boom to strike again.
NRI
Investments to Shoot Up to $20 Billion in 2007
Tuesday, January 9, 2007:Minister of
State for Industry Ashwani Kumar was upbeat about the quantum
of investment expected from NRIs in the next three years. He shared
this information with the media during the ongoing 5th
Pravasi Bhartiya Divas in New Delhi.
Buoyant
Mood at PBD 2007
Tuesday, January 9, 2007:A representation
of 1500 members of the NRI
and PIO community at the fifth Pravasi Bhartiya Divas welcomed
the recent initiatives taken by the Indian Government. Organized
by the Ministry of Overseas Affairs, the Delhi Government and
the Confederation of Indian Industry, the event has facilitated
a forum for an exchange of views amongst participants and the
state and helped define key areas of concern.
University
Exclusively for NRIs/ PIOs
Tuesday, January 9, 2007:While addressing
at 5th Pravasi Bharatiya Divas at the Vigyan Bhavan, Prime Minister
Manmohan Singh announced the Government’s plan to set up
a university exclusively for Persons of Indian Origin (PIO). Encompassing
all the sought after courses, the curriculum of the university
would be fine tuned to meet the requirements of employment abroad.
States
Urged to Create Right Investment Climate
Tuesday, January 9, 2007:The second
day of the Pravasi Bhartiya Divas in New Delhi on 9th January,
2007 saw the plenary session on Developmental Challenges of the
States: Partnership Opportunities being addressed by the External
Affairs Minister, Pranab Mukherjee.
RBI
Denies FII Status to FDI in Booming Realty
Monday, January 8, 2007:The Reserve
Bank of India has denied granting FII status to foreign direct
investments received through private placement of equity by different
construction companies. This is taken as a step to keep a check
over the asset bubble in fast flourishing realty stocks.
PM
Lauds NRI Contribution to Indian Economy
Sunday, January 7, 2007:Inaugurating
the 5th Pravasi Bhartiya Divas on 7th January 2007, Prime Minister
Manmohan Singh thanked the overseas Indian community for its significant
contribution to the nation’s economy.
Fifth
Annual Pravasi Bhartiya Divas Starts In Delhi
Sunday, January 7, 2007:Fifth annual
Pravasi Bhartiya Divas was inaugurated
by Prime Minister Manmohan Singh on Sunday, 07 January, 2007.
The annual event organized by CII and the government of India,
connects NRIs
and PIO from all across the world.
Best
Returns for NRI Investors in 2007
Wednesday, January 3, 2007: The New
Year is unfolding like a blossom with petals curled tightly concealing
the beauty within and is bringing golden prospects for everyone.
Talking about our NRI
friends, you can also explore those far horizons and encash the
opportunities.
India
Witnessing High Growth With Increasing FDI
Tuesday, January 2, 2007:Foreign
Direct Investment (FDI)
is vital to take economic growth of the country on new heights.
Since the past few years, India has been rapidly moving into a
liberal mode from a restrictive regime. The country received high
FDI in fiscal 2006, with equity inflows likely to cross $11 billion,
which is believed to be twice of the amount gained in 2005, says
the data revealed by Commerce and Industry Union Minister Kamal
Nath.
What's
Going on in the Global Market?
Tuesday, January 2, 2007:The Indian
rupee hit a nine month high but gave up the gains. The Reserve
Bank of India has come up with its study of budgets fiscal 2007
and has figured out a tremendous amount of improvement in the
fiscal policies helping national deficit to get better. Talking
about the fiscal 2006, ratio of gross fiscal deficit to gross
domestic product slipped to 3.2% and ratio of revenue deficit
to gross domestic product to 0.5%.
