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Economy grows 5.8% in 2015

The domestic economy grew at a pace of 6.3 percent in the fourth quarter of 2015, bringing the full-year growth of 5.8 percent, the government announced Tuesday.Last year’s economic expansion was slower than the 6.1-percent growth in 2014. It also…

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India, Armenia sign protocol to amend tax pact

India and Armenia on Wednesday signed a protocol to amend the existing Double Taxation Avoidance Convention between the two countries.?The Protocol amends the Article on Exchange of Information for tax purposes to bring it in line with the updated provisions…

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VC investments in non-tech firms surge in 2015

There is nothing new about venture capital (VC) funds globally investing outside technology businesses. But, this is now getting traction in India. When Sequoia invested in craft-beer company Bira91 this month, it only accentuated the trend that saw record investments…

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India's energy demand to double in next 25 years

India’s energy demand is likely to almost double in next 25 years as the economy is estimated to expand to $9 trillion by 2040, US oil major ExxonMobil said in its Energy Outlook 2040.”Through 2040, we see China, India and…

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Precision Camshafts IPO starts slow

Precision Camshafts? initial public offering (IPO) opened on a flat note on Wednesday but the issue saw no bids from qualified institutional buyers (QIBs). High net-worth individuals and retail institutional investors purchased relatively fewer shares on day one of its…

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Oil sector contracts to have 10% domestic purchase clause

To promote local manufacturing under the Make in India drive, the government on Wednesday announced a 10 per cent purchase preference for local content in all petroleum sector contracts. The tweak in the existing tender guidelines would aid increasing the…

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