Foreign Investment Promotion Board News
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Air India Ltd., which has received about $1.7 billion in the past four years in government bailouts, is now finding support from state-owned fuel suppliers in its fight for market share.
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Etihad Airways PJSC’s purchase of a 24 percent stake in Jet Airways (India) Ltd. boosts its position in a high-growth market that’s being targeted by new entrants including AirAsia Bhd. as the state invites foreign investment.
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AirAsia Bhd. won approval in India to form a joint venture, the country’s first foreign investment proposal after airline ownership rules were eased.
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India’s overseas investment board approved furniture retailer Ikea’s proposal to open outlets in the country, bringing the Swedish chain closer to becoming the first major foreign retailer to set up its own stores.
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Tata group, which started India’s first airline in 1932, is set to return to the industry as new Chairman Cyrus Mistry plans a budget carrier with Tony Fernandes’s AirAsia Bhd.
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U.K. financial advisers won’t be able to charge commissions on some products under new rules designed to make the fees paid by consumers more transparent.
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The following companies may have unusual price changes in India trading . Stock symbols are in parentheses and share prices are as of the last close .
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India is poised to approve furniture retailer Ikea’s application to open stores as the nation seeks to lure more investment, Commerce Minister Anand Sharma said.
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Jet Airways (India) Ltd. rose to its highest in 22 months after a government official said the carrier may raise about 16 billion rupees ($290 million) from the sale of its 24 percent stake to Etihad Airways.
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The following companies may have unusual price changes in India trading . Stock symbols are in parentheses and share prices are as of the last close .
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