Investment

67th National Garment Fair 2018 in Mumbai

The Clothing Manufacturers Association of India (CMAI) organized “India’s Largest Apparel Trade Show – The 67th National Garment Fair” from 16th July to 19th July 2018 at Bombay Exhibition Centre, Mumbai. A Memorandum of Understanding between Govt of Gujarat & CMAI was signed to promote Gujarat as a destination for investments. The Fair was inaugurated by Kishore Biyani, CEO of Future Group.

Goldman Sachs names David Solomon as CEO

Goldman Sachs Group Inc named David Solomon as its next chief executive officer. Solomon to succeed CEO Lloyd Blankfein, who was the CEO since June 2006 and will be retiring on 1st October. The Goldman Sachs Group, Inc. is an American multinational investment bank and financial services company headquartered in New York City. Solomon previously worked for Irving Trust and Drexel Burnham.

67th National Garment Fair 2018 in Mumbai

The Clothing Manufacturers Association of India (CMAI) organized “India’s Largest Apparel Trade Show – The 67th National Garment Fair” from 16th July to 19th July 2018 at Bombay Exhibition Centre, Mumbai. A Memorandum of Understanding between Govt of Gujarat & CMAI was signed to promote Gujarat as a destination for investments. The Fair was inaugurated by Kishore Biyani, CEO of Future Group.

India, Bahrain sign pact to boost investment

India and Bahrain signed agreements in the field of healthcare and renewable energy and decided to enhance investments among both countries. The two sides also did an agreement on Exemption from Short Stay Visa for holders of Diplomatic and Official passport. The agreement comes after Sushma Swaraj meets Bahrainain Foreign Minister Shaikh Khalid bin Ahmed Al Khalifa.

IFFCO rolls out portal for farmers

Fertiliser major IFFCO has partnered with Singapore-based technology firm iMandi to start an e-commerce platform for farmers, with an investment of about ?80 crore. An e-commerce app, ‘IFFCO iMandi’, has been introduced and would cater to 5.5 crore farmers already associated with the cooperative. A web portal has also been developed. IFFCO’s managing director is U.S. Awasthi.

Malhotra to head Investment Banking of HSBC

15 : The Hongkong and Shanghai Banking Corporation Limited (HSBC) has appointed Amitabh Malhotra as the Head of Investment Banking for HSBC India. Amitabh will lead the Investment Banking and Equity Capital Markets business. Prior to HSBC, Amitabh worked at Rothschild India, where he was the co-head and managing director of the Global Investment Bank, based in Mumbai.

Australia releases India economic strategy

The Australian govt has released an India Economic strategy report recommending to lift India into its top three export markets. The strategy prioritizes economic and trade opportunities in India covering 10 sectors such as health, energy, infrastructure etc. This would also boost Australia’s investment in India to $100 billion. The Author of this report is Australia’s PM Malcolm Turnbull

‘CITIIS’ Challenge Announced by MoHUA

The Ministry of Housing and Urban Affairs (MoHUA) announced a new ‘Cities Investment To Innovate, Integrate and Sustain’ (CITIIS) challenge to identify top projects in 15 of the 100 selected smart cities. The projects will receive an additional funding of approximately ?80 crore each. The new funding will be financed by a €100 million loan from the French government.

Oil prices: Main risk to Indian economy

According to MOODY’s survey Oil prices, Pace of Banks’ balance sheet clean-up and investment are the main risks to the Indian economy. These issues were raised at MOODY’s 4th annual India credit conference held at Mumbai and Singapore in June 2018. Banks have not been able to raise capital from equity market as planned under government’s recapitalization mesurer.

UP Government announced new policy

UP Government announced a new Defence Manufacturing Policy, called ‘UP Defence Aerospace Unit and Employment Generating Policy, 2018’. The policy is for the entrepreneurs who are willing to invest and would project an investment of ` 50,000 crores for upcoming 5 years. The policy is also expected to generate 2.5 lakh jobs

IRDAI gives nod to LIC to buy stake in IDBI

Insurance Regulatory and Development Authority of India has approved a proposal by LIC to raise its stake in IDBI Bank up to 51% from current 10.82%. It will save government from having to infuse more funds into IDBI Bank, which had received Rs 10,610 crore last fiscal, the most by any public-sector bank. The acquisition will be seen only as an investment & LIC will gradually lower its stake

FDI growth hits 5-year low in 2017-18

Foreign direct investment in India seems to be petering out with the inflows growth rate recording a five-year low of 3% at USD 44.85 billion in 2017-18. Foreign inflows in the country grew by 8.67% in 2016-17, 29% in 2015-16 and 27% in 2014-15. Mauritius has emerged as the largest source of FDI in India with USD 15.94 billion in 2017-18 followed by Singapore, Netherlands, US & Japan.

15th India-Australia Ministerial Commission

The 15th India-Australia Joint Ministerial Commission (JMC) was held on 25th June 2018, in Canberra, Australia. The meeting was chaired by Minister of Commerce & Industry & Civil Aviation, Suresh Prabhu & Australian Minister for Trade, Tourism & Investment Steven Ciobo. A MoU was signed between Austrade and Invest-India in order to facilitate bilateral investment flows.

NIIF to roll out $2 billion fund

The National Infrastructure and Investment Fund (NIIF) unveiled a $2-billion long-term fund to finance megaprojects. The NIIF already has 2 operational funds – the NIIF master fund that invests directly in companies & a fund of funds that invests in funds that are managed by 3rd parties. The 3rd fund would cater to India’s long-term infra needs. NIIF’s MD and CEO is Sujoy Bose.

35th CSMC Meeting of PMAY

Ministry of Housing & Urban Affairs has approved the construction of 3 lakh more affordable houses for urban poor under Pradhan Mantri Awas Yojana (Urban) at 35th Central Sanctioning And Monitoring Committee (CSMC). The total investment is of Rs. 8,692 Cr with central assistance of Rs.3,782 Cr. After including Rajiv Awas Yojana, the total number of houses under PMAY(U) would be 51 lakhs.

India is the largest borrower from AIIB

With the total project portfolios of US$4.4 Billion, India has been the largest borrower of Asian Infrastructure Investment Bank (AIIB) since the time the Bank started its operations. The report was released in 3rd AIIB Meet 2018 in Mumbai whose focus was on infrastructure, innovation collaboration. AIIB has committed to provide $200 million for road & energy infrastructure to India.

PM to inaugurate 3rd AIIB Annual Meeting 2018

The Department of Economic Affairs & Asian Infrastructure Investment Bank (AIIB) will host the 3rd Annual AIIB meeting on June 25-26, 2018 in Mumbai. The theme for this year’s meeting is – Mobilizing Finance for Infrastructure: Innovation and Collaboration. The AIIB is a development bank with a mission to improve socioeconomic standards. Its HQ is in Beijing & started operations in Jan 2016.

Shillong get selected as 100th Smart City

Shillong, the capital city of Meghalaya has been selected as 100th Smart City. Till now, 99 smart cities had been selected in four rounds of competition and with this announcement, selection of 100 cities has been completed under the Smart Cities Mission. The total proposed investment in the finally selected 100 cities would be Rs.2,05,018 crores.

US a top FDI investment destination

The US has surpassed India to become the top destination for greenfield FDI investment in 2017, says a report. The number of greenfield FDI projects in India during the year fell sharply said the fDi Report 2018 compiled by FDI Intelligence, a division of The Financial Times Ltd. In the Asia and Pacific region, China was on top in terms of FDI.

RBI eases norms for FPIs to invest in debt

The Reserve Bank has eased investment norms for foreign portfolio investors (FPIs) in debt. The move can help attract more overseas flows and thereby help arrest the recent fall in the rupee on one hand and also lift the recent fall in demand for corporate bonds. FPIs are allowed to invest in various debt market instruments such as government bonds, treasury bills.

Millionaires own half of global wealth

According to a report released by Boston Consulting Group, The growing ranks of millionaires and billionaires now hold almost half of global personal wealth. Personal wealth around the globe reached $201.9 trillion last year, a 12 per cent gain from 2016 and the strongest annual pace in the past five years. In North America, 42 percent of investable capital is held by the richest people.

New Telecom Policy by July

Communications minister Manoj Sinha has announced that new telecom policy is likely to be in place by July 2018. The government on May 1 had released the draft National Telecom Policy 2018 aiming to attract investment of $100 billion (roughly Rs. 6.7 lakh crores) in the Digital Communications sector. Govt. also aims to reform the licencing and regulatory regime to promote ease of business.

Share capital of HDFC Bank to increase

Union Cabinet has approved the proposal for grant of permission to M/s. HDFC Bank Ltd. to raise additional share capital of up to a maximum of Rs. 24,000 crore. The composite foreign shareholding in the Bank shall not exceed 74% of the enhanced paid-up equity share capital of the bank. The proposed investment is expected to strengthen the capital adequacy ratio of the bank.

` 500 crore credit enhancement fund

The government is set to unveil a ` 500-crore credit enhancement fund in July to facilitate infrastructure investments by insurance and pension funds. The fund was first announced in the Budget for fiscal year 2016-17. The initial corpus of the fund, to be sponsored by IIFCL (India Infrastructure Finance Company), will be ` 500 crore, and it will operate as a non-banking finance company.

Consortium to help women entrepreneurs

The UN India Business Forum and the Women Entrepreneurial Platform of NITI Aayog formed a consortium to reduce gender disparities in start-up investments. It will provide mentorship and networking opportunities and accelerating financial and market linkages for women entrepreneurs. The consortium aims to strengthen women’s entrepreneurship by creating an enabling ecosystem for investments.

RBI allows banks to spread MTM losses

The Reserve Bank allowed banks to spread their mark-to-market (MTM) losses for the June quarter as well. The central bank had also asked banks to build an Investment Fluctuation Reserve (IFR) of 2% of their holdings. In April, RBI had given banks an option to spread provisioning for MTM losses recorded on their investment portfolio

Andhra introduces scheme for natural farming

The Andhra Pradesh government launched a Zero Based Natural Farming (ZBNF) scale-out scheme, aimed at benefitting around six million farmers by 2024. The state agriculture department also signed a MoU in this regard, with the Sustainable India Finance Facility (SIFF). The SIFF will extend financial and investment support to the farmers.

HDFC bank to offer Digital Loans

HDFC Bank has launched its Digital Loans against Mutual Funds in partnership with transfer agent CAM. Customers will be able to leverage their mutual fund portfolio to avail funds for any emergencies without liquidating their investments. The ticket size of the loans will range from Rs 1 lakh to Rs 1 crore at an interest rate of 10.5 -11%.

Indian economy to grow 7.6% in 2018-19

According to the UN World Economic Situation and Prospects (WESP), India’s economy is projected to grow 7.6% in the fiscal year 2018-19, remaining one of the fastest growing economies in the world. This is a substantial recovery from the 6.7% growth India registered in the year 2017. The report also said that the recovery in private investment remains a crucial challenge in India.

India to clock GDP growth of 7.7%

India’s GDP is expected to grow by 7.7% in January-March, up from 7.2% in the preceding quarter, says a Nomura report. According to the report, despite the moderation in March, industrial production growth averaged 6.2% in the January-March period. The report further noted that India is expected to witness cyclical recovery led by both investment and consumption.

India-dedicated investment fund

China’s largest bank, Industrial & Commercial Bank of China has launched country’s 1st India-dedicated publicly offered investment fund. The fund will invest in exchange-traded funds listed on more than 20 exchanges in Europe & US that are based on Indian market.The bank said that the Indian market offers the best opportunity for Chinese investors due to the prospects of double-digit growth.

ADNOC supplies first oil cargo vessel to India

Abu Dhabi National Oil Company has sent the 1st cargo vessel with 2 million barrels of crude oil for India’s strategic petroleum reserve. ADNOC will use part of the crude oil to supply its customers, while the rest will remain as strategic storage for Govt of India to be released in event of an emergency. This will be the 1st such investment by any foreign company in an Indian SPR facility.

Arunachal’s biggest solar plant inagurated

Arunachal Pradesh Chief Minister Pema Khandu inaugurated the state’s biggest solar power plant at Energy Awareness Park. The plant, with a capacity of one megawatt, was commissioned on April 1 at an estimated investment of Rs 8.50 crore. With the commissioning of the solar plant, import of energy from other states will reduce considerably.

Stanford University to partner with UP

10 : Uttar Pradesh Health Minister Sidharth Singh has said that the Stanford University in the United States will partner with UP to combat diseases like Japanese encephalitis and acute encephalitis syndrome. Companies like Boeing, Lockheed Martin also want to set up their plants in India, Singh added. Singh had led a delegation to the US to get investments from the country.

Telangana govt to launch Rythu Bandhu scheme

Telangana Government launched the “Rythu Bandhu Scheme” (Farmers’ investment support scheme) at Karimnagar district on 10th May. Under the scheme, the farmers will get ?4,000 each an acre in the Kharif and Rabi seasons to take care of the credit needs ahead of the farm seasons. The government has excluded about 11 lakh tenant farmers from the scheme.

Venkaiah Naidu leaves to South America

Vice President M Venkaiah Naidu has left for a five-day visit to South America’s Guatemala, Peru and Panama. This will be Vice President’s first overseas visit after assuming the office. A range of bilateral issues including the strengthening of institutional mechanisms for political interactions, multilateral matters, trade & investments are expected to be discussed during the visit.

India slips 3 notches in FDI Confidence Index

India’s ranking fell three places to 11th spot in global consultants AT Kearney’s Foreign Direct Investment Confidence Index 2018. India remained the second highest emerging market on the Index. India fell out of the top 10 for the first time since 2015. The index was topped by U.S followed by Canada and Germany at the second and third position respectively.

Govt doubles PMVVY pension investment limit

The government has doubled the investment limit to Rs 15 lakh under the Pradhan Mantri Vaya Vandan Yojana (PMVVY) pension scheme and extended the subscription period by two years till March 31, 2020. PMVVY is for senior citizens and was available from 4th May 2017 to 3rd May 2018. The scheme provides an assured pension based on a guaranteed rate of return of 8% per annum for ten years.

RBI allowed FPIs to invest in treasury bills

Easing foreign investment rules, the RBI on 1st May permitted Foreign Portfolio Investments (FPIs) to invest in treasury bills issued by the Central Government. The RBI also asked the FPIs to bring down their total exposure in debt instruments (G-secs or corporate bonds). Treasury Bills are short term (up to one year) borrowing instruments of the Government & they are auctioned by RBI.

Fitch retains India rating at ‘BBB-‘

Global credit rating agency Fitch has affirmed India’s sovereign rating at ‘BBB-’ with ‘stable’ outlook.‘BBB-’ rating indicates lowest investment grade. The rating was assigned to the country 11 years ago. Fitch had last upgraded the rating from ‘BB+’ to ‘BBB-’ with stable outlook on August 1, 2006. Fitch has projected India’s growth at 7.3 percent in current the fiscal.

India-Nepal IGC meeting began in Kathmandu

India-Nepal Inter-Governmental Committee (IGC) meeting on trade, transit and cooperation to control unauthorised trade in Kathmandu started on 26th April.The meeting provides a regular platform to review the implementation of past trade and transit agreements.IGC also deliberate upon day-to-day problems in regulation of Nepalese traffic-in-transit and issue of Indian investments in Nepal.

World Bank approved $13bn increase in capital

World Bank Group has endorsed a package of measures that include a $13 billion increase in paid-in capital.The package approved by Development Committee of Board of Governors consists of $7.5bn paid-in capital for IBRD &$5.5bn paid-in capital for IFC. World Bank Group will now be able to support drivers of long-term sustainable growth, including investments in human capital & resilience.

Commonwealth Heads of Govt Meeting begins

The two-day 25th Commonwealth heads of Govt meeting began in London. The Summit focuses on peace, prosperity, security, trade and investment. Discussions on strengthening cooperation in the fight against global terrorism & cyber crime are expected. It is after 20 years that the UK is hosting the Commonwealth Heads of Govt Meeting. PM Narendra Modi is attending the summit for the first time.

World Bank forecasted 7.3% growth for India

The World Bank forecasted a growth rate of 7.3% for India in 2018 and 7.5% for 2019 and 2020.Growth is expected to accelerate from 6.7 in 2017 to 7.3% in 2018, the World Bank said in its twice-a-year South Asia Economic Focus. In its report the World Bank said, India should strive to accelerate investments and exports to take advantage of the recovery in global growth.

PM Modi Leaves on 5-Day Visit to Sweden & UK

Prime Minister Narendra Modi left on a five-day visit to Sweden and the UK. The visit to the two nations aims at enhancing bilateral cooperation in key areas like trade, investments and Science & technology. On the first leg of his visit, the Prime Minister will attend the first-ever India-Nordic Summit at Stockholm, which will be co-hosted by India and Sweden. In London, Mr Modi will take part in the Commonwealth Heads of Government Meeting being hosted by the UK. Nordic countries include Sweden, Norway, Finland, Denmark and Iceland. Sweden Capital- Stockholm, Currency- Swedish krona. he United Kingdom Capital- London, Currency- British pound.

Startups with up to ?10 cr to get concession

The government has allowed startups to avail tax concession if total investment including funding from angel investors does not exceed ?10 crore.Several startups and investors had raised concerns over the ‘angel tax’ saying it could discourage investments. The tax was levied on capital raised by startups in excess of the fair market value of their shares.

AIIB decides to invest in India

The Asian Infrastructure Investment Bank (AIIB) has approved a $140 million loan for enhancing rural connectivity in Madhya Pradesh.The project, co-financed with the World Bank, aims to improve the rural road connectivity and management for residents of about 5,640 villages. The project will benefit around 1.5 million rural residents through improved livelihood, education and mobility.

5,000MW solar park to come up in Dholera

Gujarat Government approved setting up a 5000 MW capacity solar park at the Dholera Special Investment Region (SIR), which would be the largest such entity in the world after its completion.The solar power generation project would be set up in 11,000 hectares of land. The project will contribute significantly in achieving the target of producing 175 gigawatts of electricity by 2022.

Indian Consortium and Saudi Aramco Sign MoU

The world’s biggest oil producer, Saudi Arabian Oil Co. has agreed to develop a “mega refinery” in Maharashtra with the Indian consortium consisting of Indian Oil, Hindustan Petroleum and Bharat Petroleum.This will be one of the biggest foreign investments in the country’s hydrocarbon sector. Saudi Aramco and the Indian consortium will each own 50% of the project.

SBI sets up 60 ‘sbiINTOUCH’ digital branches

SBI has set up 60 digital branches, called ‘sbiINTOUCH’, across the country.SBI has set up these branches in partnership with Dimension Data, a global technology integrator and managed services provider. The digital branches aim to help SBI expand its reach with increasing profitability. It will offer services like instant loan approvals, assistance in choosing investment portfolios.

SBI to invest in hydropower project

SBI will be investing a total of Rs 80 billion in the ‘Arun III’ hydropower project of Nepal, which will produce 900 megawatts of electricity.The SJVN, which has been awarded with the construction of the mega power project of Nepal, has made an informal agreement with the SBI to acquire the investment as a loan. The mega project is targeted to be completed by 2022’s September.

FPI investment limit in Govt Securities hiked

The Reserve Bank of India, in consultation with the Government, hiked the foreign portfolio investors (FPI) investment limit in Central government securities (G-Sec).FPIs will now be allowed to invest up to 5.5% of outstanding stock of G-secs in 2018-19 and 6% of outstanding stock of securities in 2019-20. The central bank also set a 9% limit for FPI investment in corporate bonds.

3rd Annual Meeting of AIIB

2nd lead-up Conference to 3rd Annual Meeting of Asian Infrastructure Investment Bank on ‘Enhancing Port and Coastal Infrastructure’ was held in Visakhapatnam.The Conference was organized by the Ministry of Finance, AIIB, CII and Research and Infrastructure System for Developing Countries.The need for international funding for developing and maintaining inland waterways was discussed.

SEBI doubles investment limit of angel funds

Securities and Exchange Board of India (SEBI) decided to double the investment limit by angel funds in venture capital undertakings to ?10 crore.The SEBI board has approved amendments to Alternative Investment Funds (AIF) regulations with respect to ‘Angel Funds.’ The regulator would raise the maximum period of accepting funds from an angel investor to five years, from three years.

Exim Bank extends $500 mn loan to Africa

The Export-Import Bank (Exim Bank) will provide a $500 million credit facility to ECOWAS Bank for Investment and Development (EBID) to fund various development projects in South-Western Africa. Exim Bank till date has extended 4 LoCs to EBID, with the support of the government. The LoC of $500 million to EBID is the limit for financing developmental projects in 15-member countries.

Odisha signed MoU with British Council

Odisha government has signed a Memorandum of Understanding with the British Council to strengthen educational and cultural cooperation. The MoU was signed on the occasion of British Council‘s 70 years presence in India. It aims at strengthening cooperation in a number of fields including English skill education, sports, cultural exchange and investment promotion.

ABFL’s to merge with Allahabad Bank

Ministry of Corporate Affairs has allowed the merger of Allahabad Bank with its wholly own subsidiary- All Bank Finance Ltd (ABFL). The ABFL offers fee-based financial services such as trusteeship services, investment advisory and portfolio management services, distribution of Mutual Funds schemes. The bank‘s board had approved the proposed merger in December 2016.

India, Hong Kong signs Tax avoidance pact

20 : India and Hong Kong entered into a double taxation avoidance agreement, aiming to facilitate investment flow between both countries and prevent tax evasion. It will improve transparency in tax matters and help curb tax evasion and tax avoidance. The agreement will prevent double taxation and provide for the exchange of information between the two contracting parties.

INDIA and ADB Sign $120 Million Loan

The Asian Development Bank (ADB) signed a $120 million loan agreement with India to improve the operational efficiency of Indian railways. The loan amount will be used for doubling the railway tracks and electrification of tracks along high-density corridors. The investment program is targeting routes in the states of Chhattisgarh, Odisha, Maharashtra, Karnataka and Andhra Pradesh.

‘WINGS INDIA 2018’ Event

The four-day biennial event =WINGS INDIA 2018′, jointly organized by Ministry of Civil Aviation and Airport Authority of India and FICCI took off in Hyderabad. WINGS INDIA 2018 is a platform for interactions, forging alliances, investments and air connectivity between the States and the global aviation players & stakeholders. The theme of the event is =India-Global Aviation Hub‘.

EIB to invest in clean energy projects

European Investment Bank (EIB) will be signing a new loan for large and small clean energy projects all over India. The EIB is the world‘s biggest financier of climate action and clean energy projects.In 2017 the EIB invested EUR 19.6bn in climate action projects. The EIB signed a partnership with the International Solar Alliance aimed at supporting the initiative.

Mumbai gets 47th rank in wealth index

9 : Mumbai ranks 47 on the ?city wealth index? of 314 global cities in the Knight Frank Wealth Report 2018. The ?city wealth index? is drawn from four major indicators — wealth, investments, lifestyle and future. Mumbai ranked 16th among the top 20 costliest global cities.

Paytm now registered investment advisor

Financial services platform Paytm‘s wholly-owned subsidiary, Paytm Money has received approval from market regulator SEBI to become a Registered Investment Advisor. The nod from the SEBI will allow the company to roll out investment and wealth management products to consumers across the country. The platform has planned to start with direct plan mutual funds investments with zero commission.

Vietnam President On 3-Day Visit to India

The Vietnamese President Tran Dai Quang has arrived in India on the 3-day visit. He is scheduled to hold delegation level talks with PM Modi in New Delhi. This is Tran‘s first visit to India as president Strengthening cooperation in the key areas of defence and trade will be high on the agenda. The two sides will sign MoUs in the areas of nuclear energy, agriculture and trade and investment.

Davis Cup to convert into ‘WC of Tennis’

The Davis Cup, in existence since 1900, may be converted into a ‘World Cup of Tennis’ from next year.The new format will feature 18 teams playing a week-long event at one venue, instead of the existing 16 teams playing across four different months. A 25-year, $3 billion partnership with investment group Kosmos is in place for the new event.

AIIB approves $1.5 billion of loans to India

Asian Infrastructure Investment Bank has approved $1.5 billion in loans to India for infrastructure-related projects in 2018.The funds would be used for investment in India’s energy, roads and urban development projects. The Asian Infrastructure Investment Bank is a multilateral development bank that aims to support the building of infrastructure in the Asia-Pacific region.

ADB and India Sign $84 Million Loan

The Government of India and Asian Development Bank (ADB) signed an $84 million loan for improvement and expansion of water supply in Bhagalpur and Gaya towns in Bihar.The tranche 2 loan is part of the $200 million multi-tranche financing facility (MFF) for the Bihar Urban Development Investment Program that was approved by ADB in 2012. The loan will have a 25-year term.

Sirisena to attend solar summit in New Delhi

The International Solar Alliance Founding Conference and Solar Summit is scheduled to be held in New Delhi on 11 March 2018.Around 500 delegates from all over the world are expected to participate in the Conference including around 30 Heads of State/ Government. The ISA aims to mobilize more than US $ 1 trillion of investments needed by 2030 for massive deployment of solar energy.

Manoj Sinha is Telecom Minster.

S. Arabia to invest in entertainment sector. The head of Saudi Arabia’s General Entertainment Authority has said that the kingdom will invest $64 billion ( over ?4 lakh crore) in developing its entertainment sector over the next decade. The investment is part of the Vision 2030 plan, which was unveiled by Crown Prince Mohammed bin Salman in 2016. Last year, Saudi lifted a ban on commercial cinemas.

India’s medium-term potential growth above 7%

According to a UBS report, India’s medium-term growth is likely to be above 7% backed by policy reforms & stable global growth environment.India ranks higher in medium-term growth potential compared to other markets like Russia & China. The report said, India needs to adopt reforms like stepping up infra investment, education & health reforms & others to improve it’s potential growth outlook

Saudi Arabia allows women to start business

Women in Saudi Arabia can now open their own businesses without the consent of a husband or male relative.Women can now practice all their commercial transactions in Ministry of Commerce & Investment without a guardian or a notary. This approach will open the door to women in Saudi to highlight their talents & ideas & translate them into a realistic business with a worthy financial return.

Maharashtra’s first global investors summit

Prime Minister Narendra Modi has inaugurated the ‘Magnetic Maharashtra’ Convergence Summit 2018.This is Maharashtra’s first Global Investors Summit and is being regarded as one of the biggest such events, especially on the lines of the ‘Make In India’ initiative. The summit is being attended by the top names from India Inc as well as prominent global corporates.

IOC to expand refining capacity

Indian Oil Corp will invest Rs 70,000 crore to raise its oil refining capacity by about a quarter by 2030.IOC will expand its refining capacity to 116.55 MTPA by 2030 from the current 80.7 MTPA. The investment planned by IOC also includes in upgradation of major units at existing refineries to help produce cleaner Euro-VI or BS-VI grade petrol & diesel by April 2020.

India’s first artificial intelligence centre

Maharashtra state govt will be setting up India’s 1st institute for artificial intelligence.The AI institute will give a fresh impetus to the ‘fourth industrial revolution’ & promote Mumbai as an investment destination in innovations & data analysis.CM Devendra Fadnavis will unveil the plan for the institute during Magnetic Maharashtra Summit which will be inaugurated by PM Modi on Feb 18.

Most cryptocurrencies to hit zero: Goldman

Goldman Sachs’ head of investment research Steve Strongin has said most cryptocurrencies will lose all their value as they are replaced by a small set of future competitors.Adding that cryptocurrencies don’t have any “intrinsic value”, he said most will never see their recent peaks again.It’s worrying that all cryptocurrencies move together as a single asset class, he added.

67 FDI proposals worth cleared in Apr-Dec

Union Minister P Radhakrishnan has said the government has cleared 67 Foreign Direct Investment (FDI) proposals worth ?11,703 crore during the first nine months of this fiscal.Mauritius was the largest source of FDI in India in 2016-17, according to an RBI census.Further, the government has now cleared a proposal allowing 100% FDI in single-brand retail via automatic route.

Singtel to invest in Airtel’s parent firm

Singapore Telecommunications (Singtel) has said it will invest ?2,649 crore in Airtel’s holding company Bharti Telecom.With the investment, Singtel’s total stake in the firm will increase to 48.9% from 47.17% while Bharti Enterprises will continue to hold over 50% in Bharti Telecom.Airtel said the fresh round of investment from Singtel highlights its confidence in the Indian telecom sector

Manchester-India Partnership launched

A new Manchester-India Partnership aimed at connecting Indian companies with northern regions of England has been set up.It aims to further enhance the trade, investment, science & innovation ties between India & Britain.This public-private initiative between India & Manchester is backed by Confederation of Indian Industry.

Modi Inaugurates Global Investment Summit

The first two-day Global Investment Summit has been organized in Assam.The summit emphasises on promoting investments in the state and the North East.The conference was inaugurated by Prime Minister Narendra Modi.Investor’s from Bhutan, Bangladesh, Germany and Japan as well as ASEAN countries will attend the summit.

Lock-in period for capital gains inc.

Capital gains from property transactions will have to be invested for a minimum of 5 years to avail tax exemption.Arun Jaitley proposed to increase the investment tenure of capital gains arising out of sale of land or building into bonds from the existing 3 years to 5 years.Such benefit would only be available for long-term capital gains arising out of sale of land and building or both.

Amazon invests funds into its Indian arm

E-commerce major Amazon has invested about ?1,950 crore into its Indian subsidiary Amazon Seller Services, according to filings.The investment comes two months after the Indian unit received over ?2,900 crore, its single largest infusion into the country’s operations till date. Amazon Seller Services also nearly doubled its authorised share capital to ?31,000 crore, as per filings.

Business leaders to attend Assam summit

Business leaders like Ratan Tata, Dilip Sanghvi will be part of over 4,800 delegates from across the world in 1st ever global investors summit in Assam.Advantage Assam will be the largest ever investment promotion & facilitation initiative by the state govt. It will showcase opportunities offered by the state in terms of export-oriented manufacturing & services to ASEAN & other countries.

NIIF Makes its Investment with DP World

The National Investment and Infrastructure Fund announced its first investment project since its announcement in the Union Budget 2015-16.“NIIF has partnered with DP World to create an investment platform for ports, terminals, transportation and logistics businesses in India,” said the Finance Ministry. The venture will invest in opportunities in the ports sector as well as river ports.

Unilever arm invests Rs 65 cr in IDG

Unilever Ventures, an investment arm of Unilever Plc, has put Rs 65 crore ($10 million) into the IDG Ventures India Fund during the year.The company helps early and growth-stage startups receive equity investment and operational support from Unilever. These investments in IDG will create the necessary infrastructure for Unilever Ventures.

Paisabazaar.com to Offer Direct MFs

Paisabazaar.com, India’s No. 1 Marketplace for Loans &Cards, announced that it has launched direct mutual funds, becoming India’s first major platform to offer direct plans to retail customers.A direct mutual fund doesn’t involve any type of commission and provides higher returns to the consumers. The commission involves typically 1% of the investment amount.

DP World, NIIF to set up invst. platform

The National Investment and Infrastructure Fund and Dubai-based ports operator DP World Pvt. Ltd, announced the creation of an investment platform. This is the first investment platform from NIIF and will see investment up to $3 billion of equity to acquire assets and develop projects in these sectors. The platform will also look at opportunities beyond sea ports.

5th Attractive Market for Invest: India

India has emerged as the fifth most attractive market for investments, as per the survey of CEOs by global consultancy PwC.The US remains the top spot for global investment. Around 46% of global CEOs consider the US as one of the three most important countries for growth. India (9%) bumps Japan (8%) as the fifth most attractive market in 2018.

Mauritius Largest Source of FDI in India

Mauritius was the largest source of foreign investment in India (21.8% share), followed by the US and the UK, according to a census by the Reserve Bank of India.It is according to the Census on Foreign Liabilities and Assets of Indian Direct Investment Companies 2016-17, released by RBI. Total sales, including exports, of foreign subsidiaries in India increased by 18.7% during 2016-17.

Bengal Global Business Summit

JSW Group will make fresh investments of Rs 10,000 crore in Bengal, Sajjan Jindal chairman of the steel, cement and power conglomerate announced.The 4th Bengal Global Business Summit was held from 16-17 January. The State Govt. is committed towards inclusive and sustainable development, providing increasing employment opportunities.

Brazil bans buying cryptocurrencies

Brazil’s securities regulator prohibited local investment funds from buying cryptocurrencies.Brazil regulator bans funds from buying cryptocurrencies. The prohibition has been imposed, citing the reason that Cryptocurrencies cannot be considered financial assets. Owing to this decision, Brazilian funds cannot directly invest in cryptocurrencies such as Bitcoin.

Federal Bank ties up with Hedge Equities

Federal Bank has entered into a strategic partnership with Hedge Equities for providing Portfolio Investment Scheme services to NRIs.Federal Bank is authorised by the RBI to issue permission letter to NRIs on behalf of the RBI to transact in the secondary market. Through this tie-up, the bank aims to facilitate NRI clients to invest in shares of Indian companies.

Paytm Launches Paytm Money Ltd.

Paytm, run by One97 Communications Ltd, has set up a new entity called Paytm Money Ltd.It will offer investment and wealth management products and will invest close to $10 million upfront in the new entity. Paytm Money is the fourth product after Paytm Mall, Paytm Payments Bank and Paytm wallet. Vijay Shekhar Sharma is the founder of One97 Communications.

Karnataka Tops the investment list

Karnataka topped all states with investment intentions of Rs. 1.49 lakh crore till October 2017.It is according to R V Deshpande, Karnataka Minister for Large, Medium Industries and Infrastructure Development. The investment was 43% of the country’s total investment intentions. Karnataka has topped in FDI inflows and has performed well in exports.

ICICI Sec. plans to launch 3,200 cr IPO

ICICI Securities plans to launch an IPO worth at least Rs. 3,200 crore ($500 million) in February.Parent ICICI Bank will be selling 64 million shares in the IPO. ICICI Securities offers investment banking, institutional broking, retail broking and private wealth management services.

AIIB plans to issue first USD bonds

China-led Asian Infrastructure Investment Bank, in which India is a second largest shareholder, plans to issue its first US dollar-denominated bond with the minimum worth of a USD billion by June this year.With 84 members so far, the AIIB was officially established in December 2015. The Beijing-based AIIB is a multilateral development bank with authorised capital of USD 100 billion.

Centre introduces 7.75% savings bonds

The Centre has announced the introduction of 7.75% savings bonds designed to help citizens invest in a taxable instrument, without any monetary ceiling.The bonds are open to investment by individuals, including joint holdings and HUFs. The bonds will be issued at par, that is, at ` 100 and would be issued for a minimum amount of and in multiples of ` 1,000.

Ministries join hands for Railways proj.

Three Union ministries have signed a memorandum of understanding to facilitate the co-financing of ‘Technology Mission for Indian Railways’, says Ashwani Lohani, chairman, Railway Board.MoU will facilitate co-financing of TMIR by investment sharing for railway projects. The mission will take up R&D projects in the areas of heavy haul, safety, energy, environment and urban railways.

Swaraj visits 3 Southeast Asian Nations

External Affairs Minister Sushma Swaraj will embark on a five-day visit to Thailand, Indonesia and Singapore.Her visit is to boost India’s ties with the three key Southeast Asian nations in the strategic domain as well as in the areas of trade and investment.In Singapore, the External Affairs Minister will inaugurate the Regional Pravasi Bharatiya Divas of ASEAN countries.

MoU between India and Israel

Cabinet has approved the signing of MoU between India and Israel on co-operation in the Oil and Gas Sector.The co-operation will facilitate promotion of investments in each other’s countries, technology transfer, R&D, ETC.The MoU is expected to provide an impetus to India – Israel ties in the energy sector.

RBI bonds scheme not closed: FinMin

The Finance Ministry said RBI Bonds Scheme has not been closed but the interest rate on such papers lowered to 7.75 percent.These taxable bonds are meant for individual other than Non-Resident Indians with no maximum limit for investment.In 2003, the government came out with bonds offering 8 percent interest to encourage retail investors to invest.