March 4: Glimpses of the day
March 4: Glimpses of the day
Employees work in an assembly line at Hero Honda's newly inaugurated plant in Haridwar
Employees work in an assembly line at Hero Honda's newly inaugurated plant in HaridwarIndia's Hero Group has set the coupon on its 3-month bond at 11.25% as it plans to raise 29 billion rupees, a person with direct knowledge of the matter said on Friday. In late February, Reuters reported that Hero Group would raise Rs 3,400 crore in debt to fund part of its planned buyout of Honda Motor's stake in their joint venture. The dual tranche issue was aimed to raise Rs 2,900 crore in 3-month maturity and Rs 500 in one-year maturity. India's Hero Group has set the coupon on its 3-month bond at 11.25% as it plans to raise 29 billion rupees, a person with direct knowledge of the matter said on Friday. In late February, Reuters reported that Hero Group would raise Rs 3,400 crore in debt to fund part of its plann
Finance Minister Pranab Mukherjee smiles during a news conference in New Delhi.
The government is in talks to further liberalise its foreign direct investment (FDI) rules, the Finance Minister said on Friday, as Asia's third-largest economy looks overseas to fund key sectors and overhaul its infrastructure.
India's FDI inflows have fallen sharply during this financial year, as slow progress on opening up sectors such as retail, insurance and infrastructure, seen as key to sustaining rapid growth, and a stumbling global recovery hit investor appetite.
Last month the government warned of a further slowdown that would strain India's balance of payments if reforms were not undertaken to remove regulatory barriers deterring inflows.
Prime Minister Manmohan Singh in New Delhi
Prime Minister Manmohan Singh on Friday said he accepted responsibility after the Supreme Court quashed his naming of a tainted civil servant as the country's chief anti-graft official.
Singh's statement in a televised press conference was another huge personal setback for the 78-year-old leader but it was unclear whether it would fulfil calls of an increasingly assertive opposition demanding he explain himself to Parliament.
The controversy comes as Singh is trying to defend himself against a series of graft scandals, including a $39 billion telecoms licensing scam, that have called into question his ability to govern effectively Asia's third-largest economy.
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