Good morning........... News 11.12.14 1. A much-awaited Bill - TopicsExpress



          

Good morning........... News 11.12.14 1. A much-awaited Bill to raise the composite foreign equity cap in the insurance sector from 26 per cent to 49 per cent is likely to sail through in Parliament this session, following the Cabinet on Wednesday approving amendments to the Bill after the government got support from the Congress in this regard. 2. A power-packed jury, comprising seven of India Incs leading decision makers, will meet here on Thursday afternoon to select the winners of Business Standards annual awards for corporate excellence.The jury will pick the best from a long list of names and data compiled by the Business Standard Research Bureau to select the CEO of the Year, as well as achievers in other categories - public sector undertakings, multinational firms and small and medium enterprises. 3. Finance minister Arun Jaitley has announced the release of Rs 11,000 crore to states as compensation for the reduction in central sales tax to bridge the trust deficit between the Centre and the states and get them to support the proposed goods and services tax (GST). 4. Six weeks ago, Masayoshi Son, chairman of Japan’s SoftBank, announced his plan to invest in taxi service provider Ola Cabs, at a valuation of $1 billion. Son’s $210-million investment in Ola was the largest so far in an Indian cab service operator. The valuation did not appear incredibly high, given the market potential, which had drawn the likes of San Francisco-headquartered Uber — backed by investors such as Goldman Sachs, Google Ventures, Menlo, First Round, Lowercase Capital and Benchmark — to India.However, for these companies, the reality appears to be far less rosy. Most taxi service providers, currently being probed following the alleged rape of a 27-year-old woman in Delhi by an Uber cab driver, are under financial stress. 5. nand Mahindra-controlled automobile major Mahindra & Mahindra, the market leader in the sports utility vehicle (SUV) segment, is planning to purchase a stake in National Electric Vehicle Sweden AB (NEVS), the holding company that bought assets of Saab Automobile two years ago, show documents filed in a local Swedish court.
Posted on: Thu, 11 Dec 2014 04:42:18 +0000

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