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Seeking investments in a range of sectors, Afghanistan Industry and Commerce Minister Alhaj Nooruddin Azizi on Monday said his government is ready to offer five years of tax breaks to firms investing in new sectors, including gold mining. Speaking at an interactive session organised by business chamber Assocham, Azizi said tensions with Pakistan creating hurdles in trade. "There is a huge potential available in Afghanistan. Even you will not find a lot of competitors. You will also receive tariff support, and we will be able to give you land. The five-year tax exemption will be given to companies who may be interested to invest in new sectors," the minister said. Afghanistan will charge only 1 per cent tariff if Indian firms import machinery for investment, he said. "Gold mining will definitely require the technical and professional team or professional companies. So initially, we are requesting that you send your team, they can do the research, they can do the exploration initiall
Markets regulator Sebi on Saturday warned investors against investing in digital or e-gold products, saying such instruments fall outside its regulatory framework and involve significant risks. The cautionary statement came after Sebi observed that some online platforms have been promoting 'digital gold' or 'e-gold' products as an easy alternative to investing in physical gold. "In this context, it is informed that such digital gold products are different from Sebi-regulated gold products as they are neither notified as securities nor regulated as commodity derivatives. They operate entirely outside the purview of Sebi," the regulator said in a statement. "Such digital gold products may entail significant risks for investors and may expose investors to counter party and operational risks," it added. Sebi further clarified that investor protection mechanisms applicable to regulated securities will not extend to such unregulated digital gold schemes. The regulator said that investor
Markets regulator Sebi will soon set up a working group to undertake a comprehensive review of short selling and the Securities Lending and Borrowing (SLB) frameworks, its Chairman Tuhin Kanta Pandey said on Friday. The framework for short selling, introduced in 2007, has largely remained unchanged since its inception. Similarly, the SLB mechanism, rolled out in 2008 and modified a few times since, continues to be underdeveloped compared to global markets, highlighting the need for a thorough reassessment. Explaining the move, Pandey said, "We will soon form a working group to comprehensively review short selling and the SLB frameworks," while speaking at the CNBC-TV18 Global Leadership Summit. Under the SLB mechanism, investors or institutions holding shares in their demat accounts can lend them to other market participants for a fee. The transaction is executed through the stock exchange platform, with the clearing corporation providing a counter-guarantee to ensure smooth and ..
Valuation of initial public offerings (IPO) is not a regulatory gap but "we have to see how we can further put guardrails" to protect the interest of retail investors, Sebi whole-time member Kamlesh Varshney said on Friday. Speaking at the 10th edition of the corporate governance summit, "Gatekeepers of Governance" here, Varshney said the market regulator moving away from control of a capital issue is a "right step", but at the same time stressed on the need to ensure that valuation by anchor investments take place properly, effectively and efficiently "I am not saying it's a regulatory gap, but it is something good for the thought --whether the valuation that is being carried out at this point of time is correct or not. We have seen a lot of IPOs are coming, where retail investors are challenging the valuation," he said. The remarks came a day after Sebi (Securities and Exchange Board of India) chairman Tuhin Kanta Pandey on Thursday clarified that the capital markets regulator wil
Proxy advisory firm Ingovern has cautioned the investors of LG Electronics India (LGEI), raising concerns over the contingent liabilities aggregating Rs 4,717 crore, which includes disputed tax claims, saying that a negative outcome could "significantly erode" future earnings of the appliances and consumer electronics major. The company's Rs 11,607-crore IPO has been oversubscribed by about 13 times so far. The initial public offering closes on Thursday. "LGEI has disclosed contingent liabilities aggregating Rs 4,717 crore, constituting 73 per cent of its net worth (aggregation/calculation made from the RHP). These relate to disputed tax claims from authorities. A negative outcome in those proceedings could significantly erode future earnings or require provisions," the report said. According to the report, South Korean parent entity LG Electronics Inc., the promoter, continues to hold a dominant stake of 85 per cent post-IPO, which is "resulting in concentrated ownership and ...
Indian real estate sector has attracted nearly USD 80 billion institutional investments in the last 15 years, with strong contribution from foreign investors at 57 per cent, according to CREDAI and Colliers. Realtors' apex body CREDAI and real estate consultant Colliers India on Thursday released a joint report 'Indian real estate: Fostering equity and fuelling economic growth'. The Confederation of Real Estate Developers' Associations of India (CREDAI), which has more than 13,000 members, is organising its annual event 'CREDAI NATCON' here. "The real estate sector in India has witnessed notable growth in institutional investments over the years. In the last 15 years, investment inflows have touched nearly USD 80 billion with strong capital from foreign players (57 per cent share)," the report said. CREDAI and Colliers noted that the share of domestic capital has also grown after the Covid pandemic. The institutional flow of funds includes investments by family offices, foreign ..