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FDI in services sector drops 22% during Apr-June

FDI in services sector drops 22% during Apr-JuneNew Delhi - Foreign direct investment (FDI) in services sector declined about 22 percent year-on-year to USD 738 million during April-June period of the ongoing fiscal.

The services sector, which includes banking, insurance, outsourcing, R&D, courier and technology testing, had received FDI worth USD 945 million during April-June 2013, Department of Industrial Policy and Promotion data showed.

FIIs pour in Rs 13,000 cr in Indian bond market in Aug

FIIs pour in Rs 13,000 cr in Indian bond market in AugNew Delhi - Overseas investors have pumped in about Rs 13,000 crore in the Indian debt market so far this month, endorsing the country's growth potential and political stability.

This takes the total investment in the debt market to around Rs 99,000 crore so far this year.

Foreign investors were gross buyers of debt securities worth Rs 31,639 crore till August 22, and sellers to the tune of Rs 18,649 crore - a net inflow of Rs 12,990 crore (USD 2.14 billion), as per latest data.

LIC to invest Rs 50,000 cr in equity market this fiscal: Roy

Life Insurance CorporationNew Delhi - Country's largest insurer Life Insurance Corporation plans to pump in about Rs 50,000 crore in the equity market, taking its total investment including in bonds to Rs 3 lakh crore during the current fiscal.

"We plan to invest about Rs 50,000 crore in the equity market, while Rs 2.50 lakh crore in bonds," LIC Chairman S K Roy said.

He said LIC picked up stocks worth Rs 51,000 crore last fiscal and investments were made across sectors.

As for the bond market, he said investment in this area was Rs 2.40 lakh crore in the last financial year.

Indian exports to ASEAN to touch $280 bn in 10 yrs: StanChart

Indian exports to ASEAN to touch $280 bn in 10 yrs: StanChartNew Delhi - Indian exports to the 10-nation ASEAN bloc is expected to reach USD 280 billion in the next 10 years, says a Standard Chartered research report.

According to the global financial services major, the India-ASEAN trade corridor, currently worth around USD 80 billion, has been growing fast at a compound annual growth rate of 23 percent over the past decade.

In FY 2013-14, India's exports to the bloc stood at USD 33.13 billion.

Energy firms warn against cost-plus pricing for gas

Energy firms warn against cost-plus pricing for gasNew Delhi - Ahead of a panel of secretaries beginning work on a new gas pricing mechanism, an association of top energy firms has warned that going back to cost-plus pricing will be a retrograde step that will lead to rewarding inefficiencies.

The Association of Oil and Gas Operators, which is made up for over two-dozen members including the likes of Reliance Industries, ONGC, Cairn, BP, BG, BHP and Essar, on August 18 wrote to Oil Minister Dharmendra Pradhan listing out pricing challenges and how a market driven pricing will boost output.

EPFO likely to announce PF interest rate for FY'15 on Tuesday

Employees Provident Fund OrganisationNew Delhi - Retirement fund body EPFO is likely to announce the rate of interest on PF deposits for 2014-15 to its over 5 crore subscribers at its trustees meet on August 26.

The issue of payment of interest rate for 2014-15 is listed on the agenda of the next meeting of the Central Board of Trustees (CBT) which is scheduled on August 26.

The Employees' Provident Fund Organisation (EPFO) had provided 8.75 percent rate of interest on PF deposits for 2013-14, which was higher than 8.5 percent paid for the previous fiscal.

Top six Sensex cos add Rs 47,825.79 cr in market valuation

Top six Sensex cos add Rs 47,825.79 cr in market valuationNew Delhi - Six of the top-10 most valued Indian companies together added Rs 47,825.79 crore in market valuation, with ONGC and SBI emerging as the biggest gainers.

While ONGC, CIL, HDFC Bank, SBI, ICICI Bank and Sun Pharmaceutical saw gains in their market-capitalisation (m-cap), TCS, RIL, ITC and Infosys suffered losses on the other hand.

The m-cap of ONGC surged Rs 14,458.78 crore to Rs 3,65,191.10 crore, while that of SBI zoomed Rs 12,079.56 crore to Rs 1,88,405.19 crore.

Support staff changes could have been made after ODIs: Rahul Dravid

Rahul DravidNew Delhi: Indian batting legend Rahul Dravid has said that he would have preferred to wait till the end of India`s England tour to make changes to the support staff as such decisions could be "tough on everyone concerned".

Talking about the appointment of former India captain Ravi Shastri as Team Director after India lost the fifth and final Test against England in under three days to go down 1-3 in the series, Dravid said: "You don`t have problems if people want to make changes, it`s part of professional sport."

PACL to move Tribunal against Sebi order

SEBINew Delhi : Facing a Sebi order with charges of running an illicit money pooling scheme worth about Rs 50,000 crore, PACL Ltd on Friday said that it will approach the Securities Appellate Tribunal against the directive of the capital markets regulator.

"Sebi has unfortunately failed to recognize the submissions of the company that it can't be treated like a CIS. The company would now appeal this order before the Securities Appellate Tribunal," PACL said in a statement after the Sebi order.

Planning Commission veterans to deliberate on its replacement on Aug 26

Planning Commission veterans to deliberate on its replacement on Aug 26New Delhi : The Planning Commission has called a meeting of its former Deputy Chief and members on Tuesday to deliberate on the structure of the new body which will replace the 64-year-old institution.

"It is correct that they have called a meeting. They have invited me. But I will not be in Delhi so I would send my comments in writing to them," former Planning Commission Deputy Chairman Montek Singh Ahluwalia told PTI.

PM addresses IITs' Boards of Governors conference at Rashtrapati Bhawan

Narendra-ModiNew Delhi, Aug 22 : Prime Minister Narendra Modi today addressed Conference of Chairmen of Boards of Governors, and Directors of IITs at the Rashtrapati Bhawan, where he exhorted them to provide innovative solutions to problems faced by the common people in their day-to-day life.

At the conference named 'Science is Universal', PM Modi said that technology must be local.

Neha Dhupia, Chitrangada Singh walked the ramp at LFW 2014 in Mumbai

Neha-Dhupia-Chitrangada-SinghNew Delhi, Aug 22 : Neha Dhupia and Chitrangada Singh recently set the ramp ablaze at the Lakme Fashion Week (LFW) in Mumbai.

The 33-year old actress looked stunning in an orange coat paired with a cropped top, a skirt and cigarette pants as the show stopper which beautifully displayed the designer's flair for layers.

Dhupia credited the exotic design of Swati Vijaivargie as an all time wearable collection.

Bank, foreign trip details on I-T returns likely soon?

it returnsNew Delhi: The Special Investigation Team (SIT) which submitted its first interim report to the Supreme court this week has sought changes in income tax return forms which will have details of the tax payer's foreign bank accounts or foreign trips, a daily newspaper has reported.

SIT has initiated steps for bringing back black money stashed away by Indian citizens in foreign banks.

Quoting sources, the paper said that the SIT has also sought reforms in the Foreign Exchange Management Act (FEMA). The SIT is understood to have sought to make it a criminal law rather than civil, the paper said.

Shahid, Shraddha launch music of 'Haider' in Mumbai

Shahid-ShraddhaNew Delhi, Aug 21 : Shahid Kapoor and Shraddha Kapoor recently launched the music of their upcoming film 'Haider' alongwith Vishal Bhardwaj in Mumbai.

Speaking at the event, the 'Ek Villain' actress said, "I consider myself as lucky that I am a part of Vishal Ji's film. I don't know for how long people wait for this opportunity, and Vishal Ji gave me this opportunity. Even today, I don't believe this and I tell myself that I am very lucky and, this is for the first time that I am playing an intense role, I am excited for this."

Mahindra Reva launches e20 premium variant priced Rs 5.72 lakh

mahindra-reva-e20New Delhi: Mahindra Reva Electric Vehicles, a part of the Mahindra Group, on Thursday launched a premium variant of its electric small car e2o priced at Rs 5.72 lakh (on road Delhi) with a monthly energy fee of Rs 2,999 for five years.

The premium e2o has an extended range of 120 km and electric power steering.

"Convenience of city driving has always been a priority for Mahindra Reva. The e2o is automatic with the smallest turning radius, along with features like the hill-hold, which prevent it from rolling back while on an incline," Mahindra Reva Electric Vehicles CEO Chetan Maini said in a statement.

Aamir Khan releases PK's second poster in Mumbai

Aamir-KhanNew Delhi, Aug 21 : After creating a sensation with their first poster, the makers of Aamir Khan Starrer 'PK' launched their second poster in Mumbai recently.

The new poster shows Khan in traditional Rajasthani attire. He's also sporting dark glasses and holding onto a brass tenor.

Reliance General Insurance Q1 profit up 138%

Reliance-General-InsuranceNew Delhi: Reliance General Insurance has saw its profits more than double to Rs 24.3 crore in the first quarter of 2014-15, as the total number of policies sold during the period crossed the one-million mark.

The company, a leading private sector general insurance player and part of Anil Ambani-led Reliance Group's financial services arm Reliance Capital, also beat the overall industry trends with a significant surge in its premium collection.

Gold futures fall on global cues

Gold futures fall on global cuesNew Delhi: Tracking a weak global trend, gold prices fell by Rs 142 to Rs 28,070 per 10 grams in futures market today as speculators offloaded their positions.

At the Multi Commodity Exchange, gold for delivery in October fell by Rs 142, or 0.50 per cent, to Rs 28,070 per 10 grams in a business turnover of 359 lots.

Similarly, the yellow metal for delivery in December lost Rs 125, or 0.44 per cent, to Rs 28,113 per 10 grams in 19 lots.

Pakistan has reneged on the Simla Agreement: MEA

Syed-AkbaruddinNew Delhi, Aug 20 : The Ministry of External Affairs said on Wednesday that Pakistan has reneged on the Simla Agreement of July 1972.

MEA spokesman told media here, "After the signing of the Simla Agreement, there are only two stakeholders in the issue of Jammu and Kashmir - the Union of India and the Islamic Republic of Pakistan. This principle is the bedrock of our bilateral relations."

I always believe in following my dreams, says Aamir Khan

Aamir-KhanNew Delhi, Aug 20 : Aamir Khan has admitted that he always believes in following his dreams.

Speaking at the Young Inspirator's seminar, the 'Dhoom 3' star said, "I think each one of us finds our own path. So what is important to me, which I would like to share with you, is that I always believe in following my dreams".

I am very passionate about whatever I do, whether it's my work or any sport, hanging out with friends, whether it's having argument, or laughing about something," he added.

Khan is currently busy promoting his upcoming movie 'PK'. (ANI)


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