Page 15 - Gift City

After SGX, NSE plans to tie-up with more international bourses at GIFT City

SGX is a popular destination for Nifty products

India International Exchange plans to waive fee to lure rupee trade home

Rupee trading onshore has been shrinking at the expense of offshore market, with volumes in London topping those in India's financial capital Mumbai

Category III AIFs may turn to GIFT to move past surcharge hurdle

Category III AIFs registered as FPIs in GIFT will still have to pay tax at 30 per cent on derivatives gains

NSE, SGX receive Sebi, MAS approval for creating trade link at Gift City

New arrangement may become operational by end-2020 after Finance Ministry nod

Cash-strapped IL&FS eyes Rs 480 crore from sale of two towers at Gift City

In a public notice Monday, IL&FS said it has put its two towers - Gift One and Gift Two - on the block and has invited expressions of interest from investors

Axis Trustee becomes first trustee to start operations in GIFT IFSC

Axis Trustee will provide facility agency services to IFSC banking units for their ECB transactions and trusteeship services to alternate investment funds

Foreign retail investors, NRIs allowed to invest in GIFT City bourses

IFSC business set to multiply with these investments: Experts

Exotic derivatives can make GIFT a viable global financial hub

Experts say it is about time RBI lift the ban on such derivatives but there aren't enough natural safeguards if the deals are misused by writers and marketers of the contractors

GIFT City players may adopt 'wait and watch' approach before 2019 polls

Trading at IFSC has seen a gradual pick-up following easing of regulations

Mauritius, Singapore funds likely to shift to GIFT City after Sebi norms

The new framework will allow Indian managers to directly sponsor and manage offshore AIFs set up at IFSC

GIFT City asks new board of debt-laden IL&FS to replace nominees

On the 13-member board of directors at the GIFT City company, where Sudhir Mankad is chairman, there were three from IL&FS - Hari Sankaran, K Ramchand and Arun K Saha

A rejoinder to a Skoch advertorial on GIFT City

D C Anjaria, a former independent director of GIFTCL says his public interest litigation (PIL) was not filed against the Gujarat state government, but against the firm and its' chairman among others

Brokerages seek tax exemption enjoyed by foreign funds in Gujarat's GIFT

The National Stock Exchange of India Ltd. is trying to woo foreign investors to trade at venues in Gujarat's Gift City after a fight with Singapore Exchange Ltd

GIFT and Deloitte sign MoU to promote IFSC operations

IFSC and GIFT City embody the vision of making India a financial services hub

Cloud over tax sops for eligible foreign investors trading at GIFT City

EFIs are not registered as FPIs and there is a concern that income earned by these entities from transactions done on the IFSC exchanges might be classified as business income

Investments worth Rs 105 billion committed at GIFT City, says Ajay Pandey

With 15 million square feet (sq ft) of the total 62 million sq ft developable area already allotted for development, the Gujarat International Finance Tec-City (GIFT City) has seen investments commitments worth Rs 105 billion so far.According to Ajay Pandey, MD & Group CEO, GIFT City, already 162 business units are operational at the finance hub, of which 40 are in domestic area while rest are in the special economic zone (SEZ) that houses India's first International Financial Services Centre (IFSC).According to Pandey, employment in the project has also risen to over 7800, of which roughly 4800 are directly employed. "We will be initiating fresh request for proposal (RFP) for commercial and residential development. From RFP to being fully operational, it takes roughly 3-4 years. We have already allotted 15 million sq ft, attracting cumulative investment of Rs 105 billion. With the government's support and budget announcements, we will see further growth," said Pandey.In the ...

GIFT City wants regulatory tweaks to bring IFSC on par with global centres

Gujarat International Finance Tec-City Company Limited (Gift) said on Wednesday that a host of regulatory changes will bring India's first international financial services centre on par with such well-established centers in Singapore and Hong Kong.The measures include waiving short-term capital gains tax on derivates trade, allowing retail investors to trade and removing regulatory hurdles to make it attractive for foreign portfolio investors. Gift city management, however, downplayed a slowdown in its revenue due to the present set of regulations. "Out of the first phase of project, which was to the tune of Rs 20 billion, we have a debt of Rs 12 billion from a consortium of bankers. So the revenue is the remaining sum - Rs 8 billion," Gift City Managing Director and Group chief executive officer Ajay Pandey said at a press briefing."The land was allocated to us in 2011, the international financial service centre (IFSC) started off in 2015 so the point I wanted to make was the growth .

Unified regulator for GIFT City on the cards

RBI also recommends full-fledged arbitration centre

GIFT City may lose edge over Mumbai-Ahmedabad high speed rail: Expert

GIFT City has been envisaged by Modi as an alternative financial centre to Mumbai at Gandhinagar

Proprietary trades drive GIFT City volumes

Most trades by broker members; overseas investor participation yet to take off