Government defends raising foreign equity cap in insurance

August 14th, 2009 Obama defends health care plan amid cost questionsBELGRADE, Mont. — At a town hall style meeting, a Montana man bluntly challenged President Barack Obama's contention that he can overhaul health care without raising Americans' taxes to pay for it.

August 11th, 2009 Obama defends ability of government on health carePORTSMOUTH, N.H. — President Barack Obama says Americans wary of a government-run health care plan should look no further than Medicare.

July 21st, 2009 NEW DELHI - Three Indian companies have raised over $2 billion in two weeks through the depository receipt route, strengthening belief that foreign investors are once again looking at Indian companies. While metals major Sterlite Industries raised $1.5 billion through American Depository Shares (ADS) last week, steel producer Tata Steel raised $500 million through a global depository receipt (GDR) issue.

July 6th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee Monday revived the government's divestment programme, promising equity of state-run enterprises in the hands of general public. He also said that in areas like banking and insurance, specifically, the majority control in state-run companies would remain in the hands of the government with fresh infusion of equity to help them remain globally competitive.

July 2nd, 2009 NEW DELHI - After the high growth cycle that followed the economic reforms of 1990s, India should now bring in sweeping changes in its investment climate for the next stage of growth, the Economic Survey for 2008-09 released here Thursday said. "The reforms of the 1990s created a competitive environment in which Indian entrepreneurship could flourish.

July 2nd, 2009 NEW DELHI - The Economic Survey for 2008-09 Finance Minister Pranab Mukherjee tabled in parliament Thursday has advocated sweeping policy changes like foreign investment in multi-brand retailing and higher foreign stake in insurance companies. The survey report card suggested the cap on foreign equity in insurance sector be raised to 49 percent from 26 percent currently.

June 25th, 2009 Delphi defends asset sale to private-equity firmNEW YORK — Auto parts maker Delphi Corp. defended the sale of a portion of its assets to a private equity firm on Thursday, saying it has been open to other buyers since it first entered bankruptcy protection four years ago.

May 17th, 2009 CHENNAI - A much stronger Congress-led coalition to form the next government bodes well for the life insurance sector clamouring for reforms, says the industry's representative organisation. 'Two important amendment bills relating to the insurance sector reforms are pending in Parliament.

April 29th, 2009 Obama defends US spending on foreign countriesARNOLD, Mo. — President Barack Obama says U.S.

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 16th, 2009 NEW DELHI - India Tuesday notified the detailed norms on what constitutes foreign equity in companies that operate in sectors with a cap on overseas investment, after the cabinet rationalised the procedures last week to attract more foreign capital. A press note issued by the commerce ministry says foreign investment of any form in a holding company - equity, preference shares, investments by foreign funds, convertible bonds, American depository shares or global depository receipts - will be considered foreign equity.

February 12th, 2009 NEW DELHI - The new foreign investment norms will not extend backdoor entry for foreign retailers, Commerce and Industry Minister Kamal Nath said Friday, defending the clause that does not count minority overseas stake in a holding company as foreign equity. The minister said there was no change in India's retail trade policy that permitted foreign equity only for single-brand companies and cash and carry wholesale businesses.

February 10th, 2009 NEW DELHI - India's cabinet Wednesday relaxed norms governing what constitutes foreign equity in companies that operate in sectors that have a cap on overseas investment in a bid to rationalise procedures. Announcing the cabinet decision, based on the advice of an empowered group of ministers, Home Minister P.

January 27th, 2009 NEW DELHI - A proposal from Dow Jones to publish facsimile editions of its newspapers and magazines like The Wall Street Journal and the Far Eastern Economic Review, are among 30 others approved by the government, an official statement said Wednesday. The proposals approved include those from Morgan Stanley, CMS Computers and Bridgestone and are collectively expected to bring in foreign exchange worth Rs.12.78 billion (Rs.

December 22nd, 2008 AGARTALA - Over 1,700 insurance employees in the northeast went on strike Tuesday as part of a nationwide protest against the government's move to raise foreign direct investment (FDI) in the insurance sector. More than 1,700 insurance employees belonging to 22 branches of Life Insurance Corp of India (LIC) and the General Insurance Corp (GIC) in Tripura, Manipur, Mizoram and Assam took part in the strike, said Dipankar Chakraborty, a spokesman of the All India Insurance Employees Association (AIIEA).