Foreign investments worth Rs.541 crore approved

September 23rd, 2009 NEW DELHI - The government has approved 13 foreign investment proposals worth Rs.393.62 crore, including Sterlite Technologies' plan to issue and allot warrants valued at Rs.103.95 crore on preferential basis, an official statement said Wednesday. "Based on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting held on September 11, government has approved 13 proposals of foreign direct investment amounting to Rs.

September 8th, 2009 NEW DELHI - The government Tuesday approved nine foreign investment proposals worth Rs.74.61 crore on the recommendations of the Foreign Investment Promotion Board (FIPB). However, the board rejected the proposal of Goldman Sachs for waiving off the Press Note 1 that stipulates government approval for new foreign investment proposals or technical collaboration where the foreign investor already has a joint venture in the same or allied field.

August 18th, 2009 NEW DELHI - The government Tuesday cleared 10 foreign direct investment (FDI) proposals worth Rs.1,123 crore ($230.5 billion), including one by DishTV to raise Rs.750 crore through convertible bonds. Vijay Mallya-promoted United Breweries' proposal to issue convertible warrants worth Rs.219 crore also got the Foreign Investment Promotion Board's (FIPB) approval.

July 31st, 2009 BANGALORE - State-run Syndicate Bank posted a net profit of Rs.262 crore for the first quarter this fiscal, registering a whopping growth of 198 percent year-on-year from Rs.88 crore in the like period last year. "We have nearly trebled our net profit in the first quarter on a healthy 16.4 percent growth in net interest income (NII) to Rs.586 crore from Rs.503 crore a year ago and better management of treasury operations," bank executive director V.K.

July 17th, 2009 NEW DELHI - The government Friday cleared 16 foreign direct investment (FDI) proposals valued at Rs.891.71 crore, the bulk of them for by a power project, the government said Friday. The proposals were cleared on the recommendations of the Foreign Investment Promotion Board (FIPB), which met here July 10, a finance ministry statement said.

July 12th, 2009 NEW DELHI - Singapore is the largest investor in India among the 10 ASEAN countries with its investments rising from Rs.1,416.9 crore in 2005 to Rs.15,775.9 crore in 2008, says an industry lobby report released Sunday. Malaysia ranks second, with its investments in India going up from Rs.21.3 crore in 2005 to Rs.453.8 crore in 2008, according to the report by the Federation of Indian Chambers of Commerce and Industry (FICCI).

July 1st, 2009 NEW DELHI - The government Wednesday approved 21 foreign investment proposals amounting to Rs.84.9 crore ($17.78 million). Prominent among the proposals approved by the Foreign Investment Promotion Board (FIPB) is one by Germany's BASF, which plans to invest Rs.63 crore to manufacture speciality chemicals and trade in commoditised products.

June 14th, 2009 NEW DELHI - Western India remained the most favoured investment destination for corporates in 2008-09, according to an industry lobby report. The Associated Chambers of Commerce and Industry (Assocham) said in its report, "Investment Prospects in Indian Economy in 2008-09", that the western region comprising Maharashtra, Gujarat, Goa and Daman and Diu attracted planned investments worth Rs.305,057 crore last year.

June 11th, 2009 CHENNAI - City Union Bank, an old generation private lender based in Tamil Nadu, Thursday said it will raise Rs.250 crore over the next two years to fund its expansion plans. "Our target is to have a net worth of Rs.1,000 crore in two years time.

June 2nd, 2009 SHIMLA - The Himachal Pradesh government has cleared nine industrial proposals worth Rs.256.99 crore, including one of Essar Group, Chief Minister Prem Kumar Dhumal said here Tuesday. "We have cleared proposals of nine industrial houses, including Essar Group, Paragon Knits, Gujarat Flour Chemical, UB Biscuits and Wind Turbine Equipment," he told reporters.

May 27th, 2009 NEW DELHI - Rajasthan attracted investments worth Rs.69,052 crore, the highest among northern states, during 2008-09, a business chamber report released here Wednesday said. The report, 'Investment Prospects in Indian Economy 2008-09' by the Associated Chambers of Commerce and Industry (Assocham), said Haryana, which attracted investments worth Rs.52,852 crore, came second, followed by Uttarakhand with Rs.36,059 crore.

April 6th, 2009 HYDERABAD - Who is the richest politician in Andhra Pradesh? It's neither actor-turned-politician Chiranjeevi nor Chief Minister Y.S. Rajasekhara Reddy's son Y.S.

April 2nd, 2009 PATNA - Filmmaker Prakash Jha, contesting from the Bihar's West Champaran constituency, has declared in an affidavit that he has personal assets worth Rs.55 crore (Rs.550 million). Jha, who is a Lok Janshakti Party nominee, said in the affidavit submitted during filing of nominations that he has Rs.2,925,602 (Rs.29 lakh) in cash and bank deposits to the tune of Rs.41,233,548 (Rs.4.1 crore).

March 26th, 2009 NEW DELHI - A proposal from top international events broadcaster Neo Sports and another from the US construction equipment giant John Deere were among 26 applications for foreign investment worth Rs.1,043 crore (nearly $200 million) approved by the government. Neo Sports seeks to induct foreign equity worth Rs.258.53 crore in its Mumbai-based arm that is engaged in uplinking and broadcast of non-news and current affairs programmes.

February 15th, 2009 NEW DELHI - India received about $32.4 billion of foreign investment in 2007-08, Minister for External Affairs Pranab Mukherjee said while presenting the interim budget 2009-10 in the Lok Sabha Monday. Foreign investment inflow during April-December 2008 was $23.3 billion, reflecting a growth of 45 percent over the same period in 2007, Mukherjee said.