The cross-border initiative connecting India & Singapore’s capital markets will now be traded from GIFT city in Gandhinagar, the country's 1st international financial services centre.
Viraj Ashwin Patel allegedly dropped names & promised jobs to models, even proposing marriage to one. He is now in judicial custody and faces rape charge. Crime branch to probe.
Conceptualised in 2009 & foundation stone laid in 2012, Gujarat International Finance Tec (Gift) city remains a patchwork of state-of-the-art facilities & under-construction centres.
The IFSC regulator has approved banking regulations for IBUs. It has allowed resident Indians, with a net worth of not less than $1 million, to invest in IBUs.
PM Modi wants to pitch GIFT City in his home state Gujarat as a new Asian destination for global fund flows, rivalling the likes of Singapore & Hong Kong.
Even if the National Stock Exchange succeeds in getting an injunction against Singapore Exchange, SGX won’t be the only loser. Global money managers will also be affected.
Following the transaction which is expected to be completed by November, Dassault Reliance Aerospace Ltd will become an associate company, with Reliance retaining a 49% stake.
From Munir’s point of view, a few bumps here and there is par for the course. He isn’t going to drive his dumper truck to its doom. He wants to use it as a weapon.
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