Monthly archives: May, 2013

The Annual General Meeting and the Extraordinary General Meeting of shareholders of ArcelorMittal held today in Luxembourg approved all resolutions on their respective agendas by a large majority

Luxembourg, 8 May 2013 – 1003022745 shares, or 60.23% of the Company’s share capital, were present or represented at the general meetings. The results of the votes will be posted shortly on www.arcelormittal.com under “Investors > Equity Investors > Shareholders’ meetings > Annual General Meeting – 8 May 2013” where the full documentation regarding to the general …

Differences with US Over Poultry Ban and Penal Duties on Steel

The United States (US) and India had consultations under the Dispute Settlement Understanding of WTO in two different dispute matters, one concerning restrictions by India on import of certain agricultural products including poultry and the other concerning exorbitantly high Countervailing duty (CVD) imposed by US on certain steel products originating from India. Since consultations could …

Work Commences on Six Greenfield Airports

The Minister of State for Civil Aviation, Shri K.C. Venugopal informed Lok Sabha today that construction at various airports including Aranmula airport project has not stopped. The Government of India has granted `in principle` approval for setting up of 15 Greenfield airports across the country out of which, physical work at 6 airports namely, Gulbarga, …

3rd Edition of Expo Riva Schuh India 2013 the world’s biggest Footwear and Leather Accessories Trade Fair to be held from July 4-6

-3,795 international buyers in 2012 with profits of +16.2% -Expo Riva Schuh India Grows 4 Times: Eyes for 25% Growth -Over 200 renowned global leather products-makers to exhibit their products in 2013 New Delhi, May 8 , 2013: Expo Riva Schuh India has, by now, become a fundamental date in the International exhibition calendar. Having reached its third edition, …

Can Wikipedia predict the stock market?

Wikipedia could have been used as early warning signs of stock market movements, according to a new study published today in Scientific Reports. Researchers led by Dr Suzy Moat, Senior Research Fellow at Warwick Business School, found that changes in how often financially related pages were viewed on Wikipedia could have been linked to subsequent movements …

Foreign Exchange Earnings from Tourism Increases by More than Seven Percent in April 2013 Foreign Tourist Arrivals Also Goes up by About Two Percent During the First Quarter Of 2013

The Foreign Exchange Earnings (FEEs) from tourism in Rupee terms in April, 2013 rose by seven percent in comparison to April 2012.The Foreign Tourist Arrivals ( FTAs) in April 2013 was 4.52 lakh which was the same in April 2012. However, FTAs during the period January-April 2013 were 24.80 lakh with a growth of 1.9%, as compared to the FTAs …

Steps taken to facilitate investment in port projects

The Government has taken following steps to make investment in Port projects more attractive:- 1. Upto 100% Foreign Direct Investment (FDI) under the automatic route is allowed for Port development projects. 2. Income tax incentives are allowed as per Income Tax Act, 1961. 3. Bidding documents like Request for Qualification (RFQ), Request for Proposal (RFP) …

Real Estate Watchdog

In order to ensure that the real estate promoters undertaking housing projects, utilize the funds collected for a particular project, for the development of the same project and not invest it elsewhere (leading to delay in execution and probable cost escalation), the provision for keeping a specified percentage of money collected from the allottes, to …

First Meeting of High-Level Inter-Ministerial Group Constituted for Proper Enforcement of Regulatory Framework for Multi-Level Marketing Companies, Non-Banking Finance Companies and Companies Running Collective investment Schemes Scheduled on 16th May, 2013

The Government has constituted a High-Level Inter-Ministerial Group (IMG) for proper enforcement of regulatory framework for Multi-Level Marketing Companies, Non-Banking Finance Companies and Companies running Collective Investment Schemes, under the Chairmanship of Additional Secretary, Department of Financial Services, Ministry of Finance. The Group consists of Joint Secretary level officers from the Department of Economic Affairs, …

Incentives Given for Business Units in SEZs

The fiscal concessions and duty benefits allowed to SEZs are in built into the SEZs Act, 2005 and Rules framed thereunder. These exemptions are uniformly applicable to all SEZs and are primarily in the nature of incentives for export and are consistent with the principles that guide export promotion initiatives of the Government in general. Since …