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Indian
Sebi board agrees in principle to ‘controlling shareholders’ concept
The board noted that the investor landscape is now changing, with private equity and institutional investors holding significant shareholding in listed companies. ”In recent years, a number of businesses and new-age companies with diversified shareholding and professional management that are coming into the listed space are non-family owned and/or do not have a distinctly identifiable promoter group,” the board said.
Downbeat Indian consumers withhold spending amid pandemic, says RBI survey
“The sentiments on overall spending remained unchanged as higher spending on essential items were offset by a drop in non-essential expenditure with consumers expecting further contraction in discretionary expenditure in the year ahead,” the RBI said.
With forecasters warning of a third wave, any new restrictions could spell more bad news for the country, where private consumption makes up some 60% of gross domestic product.
J&J seeks emergency use nod for COVID-19 vaccine in India
Indian health authorities have so far approved the use of vaccines developed by AstraZeneca, Bharat Biotech, Russia’s Gamaleya Institute and Moderna.
The government and Moderna are still trying to sort out issues over imports of the vaccine and indemnity, a top executive at Indian drugmaker and Moderna’s local distribution partner Cipla told Reuters in an interview on Friday.
India withdraws controversial retrospective tax bill, to settle tax disputes with global firms
“This decision helps to clarify our position with the investors,” said Tarun Bajaj, revenue secretary at the finance ministry, channel, adding it would help solve pending cases with Cairn Energy and Vodafone if they withdraw litigation and meet certain conditions.
The government’s proposed amendment in the law comes after a French tribunal last month ordered a freeze on some 20 centrally located properties belonging to the Indian government as part of a guarantee of the amount owed to Cairn.
International
ACORD Names Top Ten InsurTech Leaders of 2019
“ACORD’s Top Ten InsurTech Leaders list features visionaries operating throughout the insurance value chain, from large, established incumbents to small startups. For real change to happen, we need long-time industry leaders and new players with fresh perspectives to work together,” said ACORD President and CEO Bill Pieroni.
Four Muslim nations consider gold, barter trade to beat future sanctions
Australia’s bushfires circle Sydney as temperatures soar
Google fined $167 million in France amid crackdown on online advertising
The fine is France’s third biggest monopoly abuse penalty since 2009. French regulators are separately investigating Facebook Inc. following a complaint from Criteo. said Isabelle de Silva,president, France’s Autorite de la concurrence, It will also set up a new digital unit to handle internet issues.
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