News:
Issue of Preference Capital (July 2009)
PSSG is offering 10.5% return on a low-risk, 5-year convertible preferred investment opportunity. More
In India, surveys have shown strong growth in services but a deceleration in manufacturing, while exports growth has fallen month-on-month (LiveMint.com, Jul 08, 2010)
The International Monetary Fund's (IMF) upward revision of its estimates for global growth is a vote of confidence in the prospects for the world economy. MF's forecast of 9.4% growth for India in 2010 indicates it is confident that growth will be robust. This is particularly true because GDP growth during the March quarter was 8.6%, so growth in the next few quarters will be even higher if the annual average is to be 9.4%. More
India's Coming Urbanization Phase? (India Knowledge@Wharton, Jul 01, 2010)
Everstone Investment Advisors research head estimates about 380 million people are going to be added to India's urban spaces over the next few decades. That is more than the entire population of the U.S. moving into urban India and is one of the most defining changes being predicted for the next 3-4 decades. More
RCOM merges tower biz with GTL Infra (The Economic Times, Jun 28, 2010)
Reliance Communications (RCOM) on Sunday announced a deal that would see its tower business combine with smaller rival GTL Infrastructure to create what it claimed would be the world's largest independent telecom tower company with an enterprise value of Rs 50,000 crore and 80,000 towers. The GTL Infra-RCOM deal is one of the biggest domestic M&A deals.
The transaction will help RCOM reduce debt by more than half, as the Anil Ambani-led company prepares to roll out high-speed wireless services known as 3G. More
India State Oil Firms Expect Profit Boost (India Business News, Jun 28, 2010)
NEW DELHI, June 28, 2010 — India's state-run oil marketing companies expect their profit to rise, borrowing to fall and expansion projects to get a boost after the government raised fuel prices and said future changes in gasoline prices will be driven by the market and not dictated by the state.
Selling auto and cooking fuel at discounted prices to help the government control inflation hurts state-run oil refining and marketing companies' financial performance and their investment plans. Though the government partially compensates them for the revenue loss, the subsidy is often delayed and the size of the payout uncertain. More
India | Real estate: How the new tax code impacts you (Rediff News, Jun 24, 2010)
The revised draft for the Direct Tax Code released on June 15, is currently a hot topic of discussion among people. The code is an attempt by the government to simplify the existing income tax laws in the country. Assuming there are no further roadblocks, the government expects to implement DTC on April 1, 2011, after it is passed by the Parliament. More
