India and Russia are setting up a USD 1 billion fund to promote mutual investments in infrastructure and technology projects, Commerce and Industry Minister Nirmala Sitharaman has said. Both the countries would contribute USD 500 million to the fund, Sitharaman said while addressing India-Russia Business Forum at the ongoing International Engineering Sourcing Show (IESS) here…
Social networking giant Facebook is set to launch its biggest business-to-business advertising campaign, educating marketers to invest more in mobile video ads specifically created for the platform’s smartphone users. According to a report in Adweek on Sunday, the Facebook brand campaign, to be launched on March 16, aims to educate and inspire marketers to generally…
Taking a cue from JERA Co. Inc., Japan’s Mitsui Group is looking at investments in India’s clean energy sector. Interest from one of Japan’s largest corporates in India’s renewable energy play comes in the backdrop of India courting investments for its clean energy sector. India has witnessed record low solar and wind tariffs due to…
The funds transferred from a recognised provident fund (PF) account to a National Pension System (NPS) account will not attract any tax, Pension Fund Regulatory and Development Authority (PFRDA) said in a circular dated March 6. Here are 10 things to know: 1) The person who wants to transfer his PF fund should have an…
The Department of Justice has sought 60 days to respond to a case, which challenges a 2015 decision allowing H-4 visa holders to work in the country. Fears are running high among H-1B visa holders and their spouses in the United States after the government sought two months’ time to respond to a court case…
Start-ups dominated deals in the private equity (PE) and venture capital (VC) space in 2016, making up some $2.5 billion in value and 70% in terms of transaction volume, according to the fifth edition of Grant Thornton in India’s The Fourth Wheel 2017 report. Despite the focus in the start-up ecosystem by PE and VC…
Reliance Capital has sold its nearly 1% stake in popular digital payments firm Paytm for Rs 275 crore to China’s Alibaba Group in a deal reaping huge gains for the Anil Ambani-led group firm. The financial services arm of Reliance Group had invested Rs 10 crore for this stake in Paytm. The deal gives a…
Foreign investors are excited about India as structural reforms and investments are giving overall growth a leg-up, Union Minister Jayant Sinha said on Monday. Emphasising that demonetisation has led to a “dramatic improvement” in the country’s economic landscape, he said the move has helped in strengthening banks as well as improving the overall economy. “Foreign…
According to the latest New World Wealth report, India’s financial capital here is home to 46,000 millionaires and 28 billionaires, and is followed in terms of wealth by Delhi in second place and Bengaluru in third place. Delhi is home to 23,000 millionaires and 18 billionaires with total wealth of $450 billion, while Bengaluru has…
As telecom companies roll out new plans to counter Reliance Jio’s aggressive tariffs, analysts are wary due to the strain on the sector’s financials. Credit Suisse, citing Bharti Airtel ’s counter offers, felt that it may put pressure on company’s average revenue per user (ARPU), revenues, margins and capex further. A media report on Monday also…