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Bharti Airtel likely to sell Africa tower biz for $1.8 billion
Fp Staff •India's largest telecom player Bharti Airtel is likely to sell its telecom tower business in Africa for $1.8 billion to non-affiliated tower companies instead of transferring the portfolio to its Indian towers arm, Bharti Infratel, which already owns the telco's towers in India
Don't mistake RBI measures for capital control, says Chidambaram
Fp Staff •The Finance Minister P Chidambaram sought to clarify the RBI measures and told CNBC-TV18 that, these measures will be wound down at an appropriate time.
Honeywell Automation may be delisted; stock up 13%
Fp Staff •Honeywell Inc is considering delisting of its Indian subsidiary Honeywell Automation from the stock exchanges through a reverse book building.
After M&M, Tata Motors may redesign SUVs to beat tax
Fp Staff •Post the passage of the finance bill, SUVs which are above the 4-metre length, 1500cc engine along with 170mm ground clearance attract excise of 30 percent as against 27 percent earlier.
Insurance cos may be allowed to invest upto 20% in markets
Fp Staff •The current cap for insurance companies is only 10%.
Cobra expose: FinMin to seek explanation from banks for KYC violation
Fp Staff •Serious Know Your Customer (KYC) violations have been found, and although there were no actual transactions that took place, there is evidence to suggest that the banks were advising clients to evade taxes
Subrata Roy terms Sebi action as act of personal vengeance
Fp Staff •In an exclusive interview with CNBC-TV18, Roy said that Sahara group has directly paid back most of the investors and the total outstanding liability is less than Rs 5,120 crore which has already been deposited with Sebi as the refund amount.
Now Essar's Ravi Ruia seeks quashing of summons in spectrum case
Fp Staff •Ruia was summoned as he chaired the Sterling Cellular Board Meet, and thus "represents the directing mind and will of each company", even though the CBI has not pressed any charges against him.
L&T Finance to buy 50% in Future's life insurance JV for Rs 600 cr
Fp Staff •his deal is part of Future Group's strategy to cut down its mounting debt and focus on the organised retail sector. Cash generated from the deal will go towards retiring debt.
Will FinMin exempt low-cost SUVs from excise hike?
Fp Staff •If Finance Minister P Chidambaram does go ahead with the exemption, M&M's Bolero, Tata Sumo & GM's Tavera stand to gain.