NATIONAL FDI cap in private banks to be 74 per cent: FM In a major financial sector reform, the Government today (Dec 5, 2004) said it will allow 74 per cent foreign direct investment (FDI) in private banks as part of the roadmap to open up the sector by the end of this year.
Ratan Tata to head Investment Commission: FM Leading industrialist Ratan Tata will head the three-member newly constituted Investment Commission aimed at attracting $ 150 billion of foreign direct investment (FDI), particularly, in infrastructure in the next few years, Finance Minister P Chidambaram announced in New Delhi today (Dec 5, 2004).
'Putin sends strong signal for cooperation in IT' Russian President Vladimir Putin's visit to India's Infotech hub has sent a strong signal of Moscow's willingness to seriously engage India in improving the bilateral economic relations in the frontier sector, India's Ambassador to Russia Kanwal Sibal said today (Dec 5, 2004).
We must work together on new technologies: Putin Russian President Vladimir Putin today (Dec 5, 2004) visited software major Infosys and spoke of the need for India and Russia to work together on innovative new technologies.
FIIs records net buyers in equities at Rs 2,732 crore The foreign institutional investors (FIIs) recorded net purchases of Rs 2732.8 crore ($ 597 million) in equities for the trading week ended Dec 3, 2004 while mutual funds (MFs) were net sellers at Rs 391.78 crore.
INTERNATIONAL Tata Sons to be listed as investment firm: Ratan Tata Ratan Tata, Chairman of Tata group with an annual turnover of 12 billion pounds, has unveiled his global ambitions by deciding to list Tata Sons as an investment company, besides looking at a number of acquisitions.
