HONG KONG--A.M. Best believes interest from foreign investors in India's insurance sector will be heavy now that global insurers are permitted to increase their stakes in Indian companies, according to a new briefing.
The Best's Briefing, titled "India's New Legislation Will Draw Significant Foreign Investment Interest and Enhance Local Market's Capacity," explores the amended law that will allow foreign parties to own up to 49% of an insurance company in India. The change represents a significant increase from the previous limit of 26%.
CAMBRIDGE, MA— Prithviraj Chavan, a prominent leader of the Indian National Congress Party and a former chief minister of Maharashtra, is a rising star of his party. When he visited Boston recently to attend India Conference at Harvard University, he sat down with INDIA New England News and talked about the future of his party, which was completely decimated in state elections in Delhi and suffered a humiliating defeat in national elections last year.
India has yet again emerged as the world's largest importer of weapons and military equipment, accounting for 15 percent of global imports, according to a new report by the Stockholm International Peace Research Institute. The United States has taken a firm lead as the major arms exporter globally, according to new data on international arms transfers published by SIPRI. Overall, the volume of international transfers of major conventional weapons grew by 16 per cent between 2005—2009 and 2010—14.
BOSTON—In their new book, Retail Revolution: Will Your Brick-and-Mortar Store Survive, Harvard Business School faculty members Rajiv Lal and José Alvarez and former HBS Research Associate Dan Greenberg explore the strategic options available to brick-and-mortar retailers in the age of eCommerce. "Based on our extensive research," said Prof. Lal, "there is an urgent need for rethinking the stores and taking immediate action, without which many chains will quickly enter zombie territory."
PATNA, INDIA-- With more than two-thirds of its population lacking access to electricity, Bihar needs to add significantly to its generation capacity and ramp up investment in transmission and distribution if it is to provide affordable and reliable power to its people, says a World Bank study.
Vanita Shastri, who resigned as executive director of TiE-Boston last September, has joined newly-launched Ashoka University in India. Shastri could not be reached for comment, but sources said that she had joined the Ashoka University as Dean of the Undergraduate Programs.
BURLINGTON, MA—Area's four entrepreneurs and TiE-Boston's 2014 Entrepreneurial Achievement Award Winners who had successful acquisitions or Initial Public Offering (IPO), had a very sound advice to budding entrepreneurs: "Raise money when you can raise money and when you don't need it."
BURLINGTON, MA— Area's four entrepreneurs and TiE-Boston's 2014 Entrepreneurial Achievement Award Winners who had successful acquisitions or Initial Public Offering (IPO), will talk about their entrepreneurial journey at TiE-Boston's monthly dinner meeting on Feb. 26 at Burlington Marriott Hotel in Buelington, MA.
Last year, an epic battle played out on the North American book publishing landscape. The conflict pitted an ecommerce retailer/vanity publisher against traditional trade publishers, new ideas against old, price against value, which ultimately spawned the creation of a group called Authors United led by American author Douglas Preston.
Govt. Raises Foreign Investment in Insurance Sector from 26% to 49%
In a major breakthrough to the Government's efforts to push through reforms, the foreign direct investment cap in the insurance sector was raised from 26 percent to 49 percent.
Ease of Doing Business: Only 3 Documents Now Needed for Imports, Exports
To improve its global "Ease of Doing Business" ranking, India has reduced the number of mandatory documents required for import and export of goods from 10 to three. The move will also lead to reduction in transaction cost and time. The new rule will take effect on April 1.
It's that time of year for part-time help at the local tax-preparation location, when drivers can see seasonal staff standing at busy intersections wearing costumes of the Statue of Liberty or Uncle Sam. But they're not the only ones who are hired part time, says professional advisor to Certified Public Accountants Gary Marriage, Jr.
"I sometimes ask people, •Do you want a guy in a costume to handle your taxes?' Of course, the guy actually doing the paperwork probably won't be the guy standing near the traffic, but he's also not the person you want dealing with your bottom line," says Marriage, CEO of Nature Coast Financial Advisors.
In previous years we suggested purchasing Virginia Land Preservation Credits. A dollar of tax credit could be purchased for 75 or 80 cents, saving a significant amount of money on state taxes. In recent years, however, some of these credits were challenged. Some of the people who purchased them had to redo their tax returns. Now, 88 cents is one of the best prices available. You still have to pay short-term capital gains on what you save. As a result, we are not recommending them this year.
In December 2009, Tristina Elmes owed more money than she could pay in taxes and found herself in tax court. The IRS wanted to collect as much as they could as quickly as possible. During an IRS summons, Elmes chose to plead the Fifth Amendment because she didn't trust the IRS in its fishing expedition.