Sebi to auction over Rs 10k cr debt investment for FIIs
New Delhi: Enthused by growing interest of foreign investors in debt securities in the country, market regulator Sebi will conduct an auction this week for investment worth over Rs 10,000 crore by foreign investors. The auction will be conducted on November 20 in both the government and corporate debt securities. There are individual caps on investment by FIIs (Foreign Institutional Investors) in each category and Sebi conducts monthly auctions for the available limits within these caps. At the last month’s auction, FIIs had bid aggressively for both the government and corporate bonds. Incidentally, FII investment in Indian debt market hit its eight-month high level of Rs 7,852 crore (about $1.5 billion) last month. A higher amount of Rs 10,016 crore was invested by FIIs into the Indian debt market in February this year. This month, Sebi is conducting auction for government and corporate debt security investments worth a total of Rs 10,616 crore.
India ranks 7th in global services trade
New Delhi: India has been ranked by the World Trade Organisation (WTO) as the seventh largest player in the global services trade with value of exports and imports aggregating $261 billion in 2011. With exports at $137 billion and imports at $124 billion, India is among the five countries among the top ten players which ended the year 2011 with a surplus of trade in commercial services, according to a WTO report. The US lived up to its reputation of a global powerhouse of commercial services with exports of $581 billion, far exceeding its imports of $395 billion.
Cabinet to soon take up NIB proposal
New Delhi: Finance Minister P Chidambaram indicated that the proposal to set up the National Investment Board (NIB) for expediting clearance to large projects will soon come up for approval before the Cabinet. “The Cabinet Note is with the Cabinet Secretariat and the Prime Minister’s Office. It will be listed before the Cabinet at a time when the PM decides it should be listed. But I saw in some newspapers … that it is likely to be listed,” he told PTI in an interview. Concerned over delays in implementation of several mega projects, Chidambaram had recently proposed setting up of NIB under the Prime Minister to clear large projects. However, Environment Minister Jayanthi Natarajan had raised objections to the NIB proposal.
GMR Academy to launch IATA Courses
Hyderabad: GMR Aviation Academy, the Aviation Training Arm of GMR Group, announces the launch of its first batch of IATA courses (3- month part-time) in Travel & Tourism, Airport Operations and Air Cargo at Rajiv Gandhi International Airport (RGIA), Hyderabad. The Academy has its own distinctive advantage of utilizing the airport facilities for hands-on practical experience. GMR AA has also been appointed by Airport Council International (ACI) as its Global Training Hub (GTH) worldwide.