The US Fed Reserve's stimulus contraction affected the rupee-dollar trading. The Indian investment industry experienced an extremely volatile environment this week.
Tags: India
The telegram dies in India
The last remaining postal service in India finally shut down after more than a century's operation.
India picks five banks to supervise sale of Indian Oil shares
India’s government chooses five banks to administer the sale of its stake in Indian Oil Corp. The Indian government chose five banks that include the local units of HSBC Holdings and Citigroup Inc to administer the sale of its 10% stake in Indian Oil Corp.
Indian Embassy Group ends joint venture with Malaysian MK Land Holdings
Embassy Group sells stake in overseas joint venture back to MK Land Holdings. Real Estate developer Embassy Group, just one of India's top three commerical space constructors, had exited an international joint venture with Malaysia's MK Land Holdings Berhad.
Worldfloat to expand using games
Worldfloat saw its customer base increase due to unique game. Worldfloat, an Indian-based social networking site, expects to have its membership base expand to around 20 million in the next few weeks.
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Last Monday, the Indian government said that it would give preference over locally made electronics goods for procurement in the government and private sector.
India's commerce and industry minister, Anand Sharma, said that India was ready to begin talks regarding bilateral investment treaty.
Sebi announced its verdict on the dairy scheme utilized by HBN Dairies and Allied Ltd. Sebi made its move today to prevent an investment scheme involving public funds collection that were used to purchase cattle.
In order to attract foreign businesses, India removed a 10% levy in its sugar sector. Direct investments and foreign ventures are expected to come towards the global sugar industry, said India's top sugar producer Balrampur Chini.
To increase investments in the research and development sector of India, a government panel created new guidelines.
India’s Road Minister Oscar Fernandes said that unless major lands are handed over, financial institutions that would lend for the construction of expressways in the country could possibly shy away.
The Competition Commission of India (CCI) said that it would approve the proposed Jet-Etihad deal provided that the two carriers supply it with enough information.
India’s government held a meeting today with as many as eight banks as it weighed its options to sell the country’s debt abroad.
Infosys Q1 results were as expected and stocks rose by around 15%. Infosys first quarter report was aligned with market expectations. Shares of the IT firm also rose almost 15% early morning in Friday.
