India actively considering CEPAs, FTAs to boost textile exports: Piyush Goyal
Union Minister Piyush Goyal on Monday said India is actively considering entering into free trade pacts and comprehensive economic partnership agreements to tap new markets, increase exports and create opportunities for the domestic textile industry. The Minister of Textiles highlighted that the Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) Park is being established across 7 states to promote India's textile sector in a significant manner. Key Points
Economic TimesHDFC Bank, Axis Bank signs definitive agreements with Go Digit Life Insurance
In its regulatory filing, HDFC Bank and Axis Bank said that it has executed definitive agreements to invest ₹69.90 crore in Go Digit Life Insurance Ltd in two tranches. Key Points
mintKirloskar Bros discloses family settlement deed
Kirloskar Brothers has become the first company to disclose its promoters' entire ‘deed for family settlement (DFS) according to new regulations by India's Securities and Exchange Board. The agreement deals with the distribution of assets, transfer of shares, ownership of entities and execution of the deed, among other factors. Key Points
Economic TimesCBDT signs 95 APAs in FY'23, highest ever since launch
The Income Tax department in India has achieved a record-high number of 95 advance pricing agreements (APA) signed in the financial year 2022-23. This marks the highest number of APA signings since the program's launch in 2012. The APA program, initiated by the Central Board of Direct Taxes (CBDT), aims to create an investor-friendly and non-adversarial tax regime in the country. Key Points
Economic TimesWill no-poach agreements hold in India?
Globally, no-poach agreements are prevalent. However, increasingly, they are attracting scrutiny from regulators because such agreements can restrict competition. Key Points
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Hopeful of finalising certain FTAs in next few months, says Piyush Goyal
India is hoping to conclude free trade agreements (FTA) with Canada, UK and European Union (EU) in the next few months to revive and promote exports, according to Commerce and Industry Minister Piyush Goyal. He urged manufacturers to focus on quality and sustainable manufacturing processes to capitalize on business opportunities in the developed world. Key Points
Economic TimesKashmir issue should be resolved through dialogue between India and Pakistan: China
In reaction to India's Supreme Court ruling on Article 370, China emphasized the need for dialogue between India and Pakistan to resolve the Kashmir issue. Chinese Foreign Ministry spokesperson Mao Ning reiterated China's stance, emphasizing a resolution through peaceful means and in accordance with UN principles and bilateral agreements. The Supreme Court upheld the government's decision on Article 370 and directed the restoration of statehood and assembly elections in Jammu and Kashmir. Key Points
Economic TimesManipur government to withdraw from suspension of operation agreements with 2 hill-based militant groups
The government will withdraw from SoO agreements with Kuki National Army and Zomi Revolutionary Army. Manipur CM N Biren Singh alleged that protest rallies in three districts on Friday were influenced by these groups. Key Points
The Indian ExpressInnovation-Killing Noncompete agreements Are Finally Dying
More US states are moving to bar companies from binding workers with noncompete agreements. Research shows the move could boost wages and innovation. Key Points
WIREDInnovation-Killing Noncompete agreements Are Finally Dying
More US states are moving to bar companies from binding workers with noncompete agreements. Research shows the move could boost wages and innovation. Key Points
WIRED
Innovation-Killing Noncompete agreements Are Finally Dying
More US states are moving to bar companies from binding workers with noncompete agreements. Research shows the move could boost wages and innovation. Key Points
WIREDLendlease, Google end development deals for San Francisco Bay Area projects
Australian developer Lendlease (LLC.AX) on Friday said it had reached a mutual agreement with Alphabet's (GOOGL.O) Google to end development services agreements for four master-planned districts in the San Francisco Bay Area. Key Points
ReutersTalks begin to make BOT rules more investor friendly
The Centre commissions national highways through EPC, BOT and hybrid annuity model (HAM) agreements with road developers. It has heavily relied on the EPC mode in the past few years to hasten highway construction as the private sector stayed away. Key Points
Economic TimesCorporate tax rate cut led to rise in pvt investments, credit growth: FM Sitharaman
Finance minister Nirmala Sitharaman stressed the positive impact of the corporate tax rate cut on private investments and credit growth. She emphasized the need for capacity expansion in high employment potential areas. India is negotiating free trade agreements and has facilitated direct benefit transfers. Key Points
Economic TimesIndia’s FTA partners should keep in mind huge market being offered to them: Goyal
Commerce Minister Piyush Goyal emphasized that countries seeking Free Trade agreements (FTAs) with India should recognize its vast market and business potential. He assured fair negotiations, considering India's interests. The UK's Minister Lord Ahmad highlighted growing bilateral trade and the importance of their trade agreement. Germany's Tobias Lindner emphasized the potential benefits of the India-EU trade agreement. These discussions come as India negotiates FTAs with the UK, Oman, and the EU, aiming for fair and balanced agreements that consider India's economic growth and opportunities. Key Points
Economic Times
Europe is truly a priority for India: S Jaishankar
India and Europe have a deep and continuous relationship, with the Prime Minister of India and heads of European governments having frequent engagements. Technology, mobility agreements, free trade agreements, and new logistical pathways are key factors in the India-Europe relationship. Key Points
Economic TimesSony-Zee merger deal hits a dead end: Sony confirms termination of $10 bn deal with Zee Entertainment
Zee-Sony merger: Sony on Monday confirmed sending termination notice to Zee Entertainment, ending proposed $10 billion merger in India. The merger aimed to create the largest media giant in India. Sony and Zee had signed definitive agreements in December 2021, but the merger remained incomplete due to regulatory investigation and legal suits. Sony served the termination notice after the End Date passed and the parties failed to agree on an extension. The termination notice was issued on January 22, 2024. Key Points
Economic TimesBharat Park to be set up in UAE: Piyush Goyal
Expressing concern on Free Trade agreements (FTAs) with Japan, Australia, UAE, and South Korea, the minister said that utilisation of benefits are very poor in India. He also said that Bureau of Indian Standards (BIS) will spend Rs. 40 crore for setting up 21 testing laboratories across the country. Key Points
Economic TimesNetflix Canada’s December 2023 Departures: See complete list of movies and TV shows
In December 2023, various movies and TV shows are set to depart from Netflix Canada. The list includes a range of titles, so make sure to catch them before they are gone. The reasons for removal are typically related to licensing agreements and content rotations. If you're a fan of any of these titles, it's a good time for a final viewing before they vanish from the platform. Key Points
Economic TimesCBDT signs 95 Advance Pricing agreements in FY23
This includes 63 Unilateral APAs (UAPAs) and 32 Bilateral APAs (BAPAs). With this, the total number of APAs since inception of the APA programme has gone up to 516, comprising 420 UAPAs and 96 BAPAs. The BAPAs were signed as a consequence of entering into Mutual agreements with Indias treaty partners namely Finland, the UK, the US, Denmark, Singapore, and Japan, CBDT said in a statement issued Friday. Key Points
Economic Times