India’s most important conglomerate is in turmoil. But investors seem to be taking the news too lightly.

India’s most important conglomerate is in turmoil. But investors seem to be taking the news too lightly.

Anjani Trivedi/Wall Street Journal Mumbai,October 28: The board of Tata Sons ,ousted its first non-family Chairman this week, reversing what investors had seen as a fresh start for the tightly controlled group of companies, which generates $100 billion in sales across 29 listed companies and other unlisted ones. Interests span tea and coffee, IT outsourcing and Jaguar automobiles. Mistry fired back...

Sri Lanka to fight money laundering, terrorist financing

Sri Lanka to fight money laundering, terrorist financing

Colombo, Oct 24 (NIA) - Sri Lanka's Financial Intelligence Unit has entered into an agreement with the Inland Revenue Department to fight money laundering and terrorist financing, the country's Central Bank said in a statement on Monday. The agreement is to exchange information in order to facilitate investigations and prosecutions on money laundering and terrorist financing. "Money laundering and terrorist...

Sri Lankan PM to visit Brussels to hold talks on regaining GSP plus

Sri Lankan PM to visit Brussels to hold talks on regaining GSP plus

Colombo, Oct 12 (NIA) - Sri Lanka's Prime Minister Ranil Wickremesinghe, will leave for Brussels on Saturday to begin talks on restoring key trade concessions from the EU which were withdrawn from Sri Lanka during the previous regime. Wickremesinghe told journalists here on Wednesday that Sri Lanka had already filed an application to regain the GSP plus trade concessions and...

Sri Lanka’s state owned Mihin Lanka airline to end flights

Sri Lanka’s state owned Mihin Lanka airline to end flights

Colombo, Oct 4 (NIA) - Sri Lanka's state owned budget airline, Mihin Lanka, will end all flights from Oct 30 and merge with the country's national airline carrier, Sri Lankan Airlines, the company said in a statement on Tuesday. Mihin Lanka, which was launched as a budget airways in 2007, currently conducts flights to several destinations including Bahrain, Dhaka, Gaya,...

Sri Lanka gets into more debt without any new projects

Sri Lanka gets into more debt without any new projects

Colombo, October 1 (NIA): Even as it is burdened with a total debt of US$ 69.7 billion, which is 75 percent of its GDP, Sri Lanka is getting into more debt, points out Wade Shepard in Forbes. Under President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe, who came to office at the beginning of 2015, domestic debt without starting any new large-scale...

India up 16 places in global competitiveness index

India up 16 places in global competitiveness index

Geneva, Sept 28 (NIA) - In a huge leap forward, India has moved up 16 positions to rank 55th on a global index of the world's most competitive economies, where Switzerland remains on top. The jump in India's position underlines the country's recent economic recovery, improvement in the competitiveness of the country's institutions and its macro economic environment and a...

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