Mumbai | 2 hours ago
RIL acquires 14.12 percent in East India Hotels
Mumbai/Kolkata, Aug 30 - India's largest private sector company Reliance Industries Monday said it has acquired 14.12 percent stake in hospitality major East India Hotels -, which runs the Oberoi group of hotels.'Reliance Industries has acquired from Oberoi Hotels Private Limited and certain other promoters shares in EIH Limited representing 14.12 percent of EIH at a total cost of Rs.1,021 crore a ... read more

New Delhi | 1 month ago
No plans of sell stake: EIH Chairman
New Delhi, July 9 - The promoters of East India Hotels have no plan to sell stake in the company, P.R.S. Oberoi, founder and chairman of the Oberoi group, said Friday.'We have no plans at the moment,' Oberoi told reporters on being asked if the promoters were mulling a dilution. EIH promoters, including the Oberoi family, hold about 46.4 percent in the Oberoi and Trident hotel chains. Last year, ... read more

2 years ago
Most Indian households don't invest in savings: survey
New Delhi, Feb 6 - A whopping 96 percent Indian households cannot survive beyond a year in case they lose their sources of income and very few households invest in savings, said a survey released Wednesday evening. 'It is high time we must encourage savings among the people. We must encourage contractual savings in the form of provident funds or any other such modes,' said Planning Commission de ... read more

2 years ago
Ahluwalia urges diaspora to invest in health, education
New Delhi, Jan 8 - Inviting overseas Indians to invest in health and education, deputy chairperson of the Planning Commission Montek Singh Ahluwalia Tuesday said that India needed more investment in these sectors to take the country to a higher growth circuit. Speaking at the Sixth Pravasi Bharatiya Divas, Ahluwalia said that the main area of concern for the government would in providing social ... read more

New Delhi | 3 years ago
IFC to invest about Rs.3 billion in Max Healthcare
New Delhi, July 9 - International Finance Corp. -, the private sector division of World Bank, Monday announced its plans to invest Rs.3 billion in India's Max Healthcare Institute for its expansion plans.Max Healthcare Institute is a subsidiary of Max India, a multi-business company with interests in life insurance, health care, clinical research, and specialty plastics. 'While the government is f ... read more

Washington | 3 years ago
Reverse outsourcing creating jobs in US, Hillary Clinton told
Washington, June 7 - Confederation of Indian Industry - president Sunil Bharti Mittal has told Democratic presidential hopeful Hillary Clinton how Indian companies are outsourcing to US firms, investing in the US and creating jobs here.This reverse outsourcing was one of the new emerging trends for business between India and the US, he told the Democratic senator putting the issue in perspective, ... read more

Washington | 3 years ago
Make 'inclusive' investments in India, CII chief to US
Washington, June 6 - The new Confederation of Indian Industry - president, Sunil Bharti Mittal, wants US companies to make long-term and 'inclusive' investments in India as the country today offers 'the perfect combination' for partnership.'Thanks to economic reforms India is growing at a fast pace, understanding of US industry is increasing in India and irritation levels are going down in America ... read more

New Delhi | 3 years ago
India Inc. to raise H-1B visa issue in US
New Delhi, June 5 - A group of corporate India leaders, currently visiting the US to promote Indo-US trade, is likely to raise the controversial issue of H-1B visa facility at meetings with high-profile politicians and businessmen, the Confederation of Indian Industry - said Tuesday.Last month, two US senators had queried nine Indian IT companies on allegations of misuse of the H-1B visa programme ... read more

New Delhi | 3 years ago
Court notice to government, Hutch on Vodaphone deal
New Delhi, May 28 - The Delhi High Court Monday issued notices to the government, telecom major Hutchison Telecom India Ltd -, Hutch-Essar and its minority shareholders seeking reply to a petition alleging breach of foreign direct investment - norms in a deal involving Vodafone of Britain.A bench of Chief Justice M.K. Sarma and Justice Sanjeev Khanna asked the respondents to file their replies by ... read more

New Delhi | 3 years ago
Vodafone completes Essar-Hutch deal for $10.9 bn
New Delhi, May 9 - Global mobile telephony giant Vodafone Wednesday said it has formally acquired the controlling stake in Hutch-Essar from Hong Kong-based Hutchison Telecommunications International for $10.9 billion.'I am delighted that, having secured all the necessary regulatory approvals, we are now able to complete this important transaction and move onto the process of integration,' India-bo ... read more