Indian
Professionals see no future in UK
A majority of proficient in Britain under the Highly Skilled Migrant
Programme (HSMP) visas are undergoing the unusual circumstance
of deportation.
Service
Tax Will Be Charged on Rentals of Commercial Property
Despite of strong protests from different sectors of India Inc,
the finance ministry does not seem to change its stand of levying
a service tax on renting of immovable property for commercial
purposes.
Old
Mutual to Launch a Real Estate Fund
Old Mutual, one of the largest property owner in South Africa,
is planning to launch a ‘core’ unlisted property fund containing
its existing fixed property assets, which are evaluated for worth
R10bn.
No
More Illegal Private Placement Agencies
The Overseas Employment Agencies may issue an order to eliminate
unauthorized and unscrupulous private placement agencies. The
agency was established to bring a common platform for employers
abroad.
Ratan Tata,
Mittal - the world’s best CEO, says Barron
The famous steel giants -Ratan Tata of Tata Steel and NRI Lakshmi
Mittal of Mittal Steel, topped the world’s best CEOs list prepared
by the US stock market weekly Barron’s.
Indian
Real Estate Cos Bag $20 billion deals
The visit by Vice-president and Prime minister of the UAE Shaikh
Mohammad Bin Rashid Al Maktoum proved highly beneficial for Indian
real estate companies as it let them garner deals over $20 billion.
Realty
Loans to be Prohibitive Choice for HFCs
The National Housing Bank has recommended housing finance companies
(HFCs) to include a general provision of 0.4% of their total outstanding
non-housing loans in the form of standard assets.
Steel
COs abroad must Not Miss Prospects in India, says Indian PM
Non Resident Indians (NRIs) have emerged as a driving force in
taking the Indian economy to new highs. Considering the same fact,
Indian politicians are jostling hard to keep the foreign exchanges
in the country for their own welfare.
Kalpana
Planetarium to open by April
Nothing is quite as amazing as to build a planetarium to recall
that fond memory of the famous astronaut Kalpana Chawla and her
contributions.
Indian
Retail Sector Surviving Blows of High Space Cost
Indian real estate prices are going through the rooftop which
have made the creation of a viable retail sector a little difficult,
feels most Indian retailers.
Check
out NRIs Craze for Indian Real Estate
Since the investors making investments in Indian retail sector
has become conscious about putting in the volatile equity market
at current levels, Non Resident Indians (NRIs) are taking a contrarian
stand towards the same.
Economical
Deals for NRI Patients in India
A US medical firm, Om Healthcare Providers Network Private Limited,
is drawing plans to expand its horizons in of India, Gujarat.
It will launch its operations in Vadodara and Ahmedabad and envisages
establishing a network of Indian doctors and hospitals thereby
promoting the services primarily in the US, UK, and East Africa.
Property Prices in India to Undergo a Change
A significant drop of 20% has been seen in home loan transactions
in the past few months, which is a clear indication of an awaiting
correction in property prices.
ICICI to Start Commercial Banking Operations in UAE
ICICI, a leading public sector bank in India, sees itself to establish a substantial presence in UAE as it has made Indians living in Gulf confident about its tremendous potential to manage money.
NRI ‘Facilitation Centre’ to Come up in India
The Cabinet has approved the construction proposal of a facilitation centre for Non Resident Indians (NRIs). It is to come up as a trust, and will be a product by the Ministry of Overseas Indian Affairs (MOIA) in partnership with the Confederation of Indian Industry (CII).
Merrill
Lynch to launch new products for the NRI segment
Merril Lynch, one of the world’s leading financial management
and advisory companies, is planning to bring an array of new products
for NRIs. This is considered to be a strategic move by the company
to emerge as the biggest private banker to serve to the demanding
requirements of existing market.
Registration
of NRI marriages to be made Compulsory
Seeing an increase in number of fraudulent marriages of Indian
women with Non Resident Indians (NRIs), the parliamentary committee
has come up with a decision to make ‘registration of NRI marriages’
compulsory.
8
Lakh PIOs Get Overseas Citizen Status
According to the data showcased by the Parliamentary Standing
Committee on Eternal Affairs, around eight lakh persons of Indian
origin (PIO) have been given the status of Overseas Citizen of
India (OCI) as of November 2006.
Australian
businesses spreading horizon to India
According to the data showcased by a government report released
by Australia, India has become one of the most preferred destinations
which are drawing large interests across the world.
India
making large investments in the UK
India is being bullish on investment spree, a fact clearly underlined
by the country deciding on to acquire thirty one UK companies
in 2007. As far as investments are concerned, India, though moving
at snail pace will catch up the pace in very near future.
Technical
Education in India made easy for Diaspora Children
With the newly introduced scholarship programme by the ministry
of overseas Indian affairs, Diaspora Children will find it easy
to learn higher studies in prestigious Indian technical institutions.
SBI
to offer foreign currency services to Chinese clients
The State Bank of India (SBI)
has become the first Indian bank authorized to offer foreign currency
services to Chinese clients.
Merrill
Lynch plans to double private banking business
With an eye on the burgeoning
affluent Indian segment, Merrill Lynch is planning to double its
private banking business in the country by doubling the number
of its financial advisers this year
Himachal
Pradesh to attract overseas investments, film units
In order to boost tourism
sector, Himachal Pradesh plans to attract overseas investments
and various film units to promote its tourism industry, Chief
Minister Virbhadra Singh said.
Former
Morgan-Stanley Boss Eyes South India’s Real Estate Sector
The boom in the Indian real estate sector is even catching up
fast in the southern part of India. After two major deals that
Chennai real estate saw that of Shyam Kothari’s and the HTL-AIG
recently, its now the turn of former Morgan Stanley chief, Craig
Phillips, who head towards south India scouting for real estate
properties.
Savings,
Investment Rates Expected to Rise
The Indian Prime Minister Manmohan Singh said savings and investment
rates are likely to rise further. He also added that, he has reason
to believe that they will rise further by another 5 percent in
years ahead.
Rates
of Houses, Apartments to Go Up from April
Come April and people planning to buy houses or apartments will
have to pay more as real estate developers are likely to pass
on the additional burden of non-extension of the income tax benefits
under Section 80IB (10) from the next month.
Hotelier
Chatwal to Invest Rs 45 Billion in India
Indian American business tycoon Sant Singh Chatwal plans to invest
Rs.45 billion in India by 2009 for setting up a chain of hotels,
which will also include a seven-start hotel.
Government
to Conduct Survey on Overseas Keralites
India will conduct the first major survey to count the number
of non-resident Keralites (NRKs) working in different nations
this month and the report will be made public by July.
Banks
Trying to Woo NRIs in Singapore
Every major bank wants to attract Indian expatriates working in
Singapore and the adjoining regions. And now, HSBC has opened
a separate section called NRI desk focusing specially on non-resident
Indians (NRIs).
Shyam
Kothari Buys Land in Chennai for Rs. 175 crore
After American International Group (AIG) and RMZ Corporation bought
11-acre land for Rs 298.10 crore, now it’s a turn of Shyam Kothari,
brother-in-law of Mukesh Ambani, who bought IDBI’s 2.5 acres Boat
Club property in Chennai for Rs 175 crore.
Sacha
Dhawan Nominated for Britain’s RTS Award
Actor Sacha Dhawan has been nominated for Royal Television Society
(RTS) award for his role in Bradford Riots, a television drama.
The RTS award function, which will held on March 13, is for excellence
in all aspects of broadcasting in Britain.
Indians
Make the Largest Immigrant group in Canada
According to a survey done in Canada, Indian immigrants, who are
at number two position among the immigrants, will top the chart
by 2009, said Ted Menzies, Canada's parliamentary secretary to
the minister for international trade.
Indian
Real Estate Poised to Surge
Indian real estate is all set for further growth feels, Kalpana
Jain, a senior director of Deloitte Haskins & Sells in New Delhi,
a member firm of Deloitte Touche Tohmatsu of New York.
Indian
Real Estate Profits Likely To Fall
Everything that goes up comes down too. It seems the profit margins
on the Indian real estate, which was quite high for the property
developers in the last two years, are likely to take a beating
due to abundance of commercial and residential supply in 2007,
reports a business news channel.
IT
boom to push reforms in Indian real estate
Indian IT success stories have impressed one and all and many
like Dubai-based Gowealthy.com CEO, Peter Penhall, who feels the
ongoing IT boom is going to fuel the Indian real estate market
and will attract a lot of non residents Indians (NRIs) to India.
Major
victory for Indian doctors in Britain
Britain-based Indian doctors have won a major battle when the
British government agreed to withdraw a "discriminatory clause"
that could have doomed their future in Britain.
Domestic
Realty Funds' to be Taxed from April
Firms earning more than US$ 1 billion through domestic real estate
funds will now have to cough up tax from April this year, as per
the budget unveiled by the finance minister, P. Chidambaram.
Financial
Institutions looking up to: Morgan Stanley, Citi, $ Actis
Morgan Stanley, Global financial services firm, Citigroup, one
of the largest financial services company in the world, and a
private equity firm Actis have collectively bought a 6% stake
in the National Stock Exchange (NSE) for an disclosed amount.
Kerala
to Set up Special Cell to tap NRKs Resource
Kerala tourism ministry has decided to set up a separate cell
to tap its non-resident-Keralites (NRKs) for developing its tourism
infrastructure, said Kerala Tourism Minister Kodiyeri Balakrishnan.
Real
estate firms turn to theme townships to woo clients
These days the mantra for real estate industry is theme townships.
These are very much evident by the plethora of huge hoardings
that stare at you while you are on the move, like a home on the
bank of the Ganges or an abode facing sea beaches etc.
Asian
Women Carving Out a Niche in Politics
Thursday, March 08, 2007:Women are fast
emerging as great political leaders and business persons in Asia,
especially India, but have been under represented in a national
level government, as according to a US group dedicated to the
region.
Australian
Bank Eager to Make investment in India
Thursday, March 08, 2007:Needless to
say, India's economy is making rapid strides with each passing
day. Stirred by the same, the Commonwealth Bank of Australia
has launched a new investment fund for prospective investors of
Australia to encourage them to park in Indian market.
2i
Capital Group Launches Indian Infrastructure Development Fund
Wednesday, March 07, 2007:The renowned
2i Capital Group held a presentation on the US$300 million
"Indian Infrastructure Development Fund” yesterday at the
Ritz Carlton Hotel.
RTI
Act Helps NRI to Get Tax Refunds
Wednesday, March 07, 2007:Since the
Right to Information (RTI) Act came in application,
many harried people who were fed up with the treatment they got
from income tax officials known for their laidback attitude got
their work done.
AXA,
Bharti Join Hands to Launch a Realty Fund in India
Wednesday, March 07, 2007:French Insurer
AXA and Bharti Enterprises have fastened their seat belts
to carve a substantial niche in Indian real estate. The same seems
to have encouraged them to launch a realty fund in the country,
extending their current partnership for insurance and asset management.
Non
Resident Keralites Taking State to New Highs
Tuesday, March 06, 2007:Recognizing
the potential of its Indian
Diaspora, Kerala invites 50 leading non-resident
Keralites (NRKs) based in Gulf countries next week to carry out
a new Government project, Infrastructure Kerala Limited (InKel),
to facilitate development and make the state a favorable investment
destination.
UK
Medical Service Cos Carving Niche in Bengal Medical Sector
Tuesday, March 06, 2007: The British
Healthcare Mission is scouting prospects in the healthcare sector
of West Bengal. Five renowned British medical service companies
came here on Monday to participate in an interactive seminar with
health sector players of the state.
Badal
To Work in Welfare of NRIs from Punjab
Monday, March 05, 2007: Parkash Singh
Badal, who sworn in as Punjab Chief Minister for a record fourth
time, expresses concerns for NRIs from Punjab settled overseas.
The minister also wants the educated youth of the state to get
reasonable employment.
Chandy
all praise for Non Resident Keralalites
Wednesday, March 07, 2007: Kerala opposition
leader Oommen Chandy appreciates non resident Keralites for contributing
in development works for the state in the last 50 years of its
formation.
Massive
protest by Expat workers in Dubai
Thursday, March 01, 2007: Dissatisfied
with unreasonably low wages, construction workers in Dubai, mainly
Indians protested and stopped rush hour traffic on the city’s
main highway, demanding a Dh2 (Rs. 24) hike in their daily wages
of Dh25 (Rs 301)
Property
fair show in Dubai by Indian Builders
Thursday, March 01, 2007:Buoyed by the
country's economic growth, Indian real estate is certainly zooming
and has emerged as one of the most lucrative options to invest
in the international market.
RRBs
allowed to accept NRE Money, says budget
Thursday, March 01, 2007: Top priority
has been given to agriculture sector by the United Progressive
Alliance, present ruling coalition of political parties in India.
