Today : Wednesday - Sep 03, 2014, 10:09am (GMT+5.5)
All News  
Top News
National News
International News
Business News
Sports News
   » Cricket
   » Football
Entertainment News
Sci - Tech
Politics News
Health & Fitness
Gulf News
::| Latest News
News in Pictures

Reliance Communications has made full repayment of two loans amounting to $1 billion (around Rs 6,000 crore), during the quarter ended June 30.The repayments have been from the company's rupee resources.

Business News

Foreign investment proposals worth Rs.524 cr approved

Friday - Jan 01, 2010, 03:28pm (GMT+5.5)
[+] Text [-]

New Delhi, (IANS) The government approved nine foreign direct investment (FDI) proposals worth Rs.523.7 crore Wednesday, including a Rs.326-crore proposal from Japanese conglomerate Mitsui.

The government approved the proposals based on the recommendations of the Foreign Investment Promotion Board (FIPB) Dec 18.

The Mitsui proposal envisages setting up a wholly-owned subsidiary as well as a joint venture company, a finance ministry statement said.

However, "the proposal attracts Press Note 1 of 2005," the statement added, referring to guidelines pertaining to approval of foreign and technical collaborations under the automatic route with previous ventures and tie-ups in the country.

Goldman Agent has been allowed to invest Rs.93 crore in an investing company, while Internet Global Services has been given the go-ahead to invest Rs.100 crore in non-convertible redeemable preference shares from internally accrued funds.

Seven proposals including one by telecom service provider Telstra Telecommunications to issue fresh equity shares to raise FDI cap from 49 percent to 74 percent have been deferred, while five proposals have been rejected.


Rating (Votes: )   

blog comments powered by Disqus

Other Articles:
Kerala IT firm's Arabic video sharing portal a hit (1st Jan, 2010)
Sensex ends year on a high, best performance in 18 years (1st Jan, 2010)
Emami plans for Rs.5,000 crore turnover in five years (1st Jan, 2010)
For investors, 2009 was easy. Now comes 2010 (1st Jan, 2010)
Iraq poised to transform oil market in next decade (1st Jan, 2010)
Sensex ends year's last day 134 points up (1st Jan, 2010)
Googlephone is coming next week for $530 (1st Jan, 2010)
Wall St Week Ahead: New year, old worries for U.S. stocks (1st Jan, 2010)
Apple's i-Decade (1st Jan, 2010)
Stocks Retreat to Finish Best Year Since 2003 (1st Jan, 2010)
Hatoyama Says He’ll Focus on Japan Economy as Popularity Slumps (1st Jan, 2010)
China Manufacturing Growth Increases to 20-Month High (Update2) (1st Jan, 2010)
Blackwater Guards Get Iraqi Death Charges Dismissed (Update3) (1st Jan, 2010)
Commodities Post Biggest Annual Gain in Four Decades on China (1st Jan, 2010)
Worst Decade For Stocks, But Not All Stocks (1st Jan, 2010)
Emerging-Market Stocks Gain, Post Biggest Yearly Rise on Record (1st Jan, 2010)
NBC Adds Pilots to Reverse Falling Ratings (1st Jan, 2010)
Time Warner Cable, Fox at impasse; blackout looms (1st Jan, 2010)
Time Warner Wants to Cool Off in Fox Fight (1st Jan, 2010)
U.S. STOCKS - Wall St ends 2009 with best gains since 2003 (1st Jan, 2010)
Trial Lawyers Sidestep Malpractice Curbs (1st Jan, 2010)
Malkiel: Market Risk-Taking Must Be Restrained (1st Jan, 2010)
Gordon Ramsay's Recipe for Redemption (1st Jan, 2010)
Corporate Bonds: 2010's Big Winners (1st Jan, 2010)
Oil ends 2009 78 percent above year-ago level (1st Jan, 2010)

Contact Us | Advertise with Us | Privacy Policy | Disclaimer | Terms of Use