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The Economic Times, Ruchika Chitravanshi October 16, 2017, New Delhi NEW DELHI: Sany Heavy Industry heads up a list of close to 600 companies planning to invest a total of about $85 billion in India in projects that will create an estimated 700,000 jobs in the country in next five years.  Invest India, the government's foreign investment promotion agency, is planning to actively promote the country as an investment destination and has drawn up a list of 200 companies not present in India that it wants to target.  "We want to achieve a $100 billion target of foreign investment in the next two years — both greenfield and brownfield," said Invest India managing director Deepak Bagla. India recorded its highest FDI (foreign direct investment) in FY17 at $43 billion, up 9 per cent over the previous year.  One of the world's leading engineering machinery manufacturers, China's Sany Heavy Industry plans an investment of $9.8 billion. Amazon, along wit

The Times Of India, Surojit Guptal  October 16, 2017, New Delhi NEW DELHI: Village residents who opened bank accounts under the Prime Minister's Jan Dhan Yojana (PMJDY) may be saving more and cutting back on their consumption of alcohol and tobacco, a study by the economic research wing of the State Bank of India (SBI) suggests. This may have also slowed inflation in rural areas. When the PMJDY programme was launched there were fears that higher circulation of money would stoke inflation. The study using retail inflation data showed that states with more than 50% share of Jan Dhan accounts in villages had a "meaningful drop in inflation". Of the 30 crore-plus Jan Dhan accounts, many were opened after demonetisation last November. Just 10 states have 23 crore or 75% of the accounts, with Uttar Pradesh (4.7 crore) topping the list, followed by Bihar (3.2 crore) and West Bengal (2.9 crore). The SBI study analysed state-wise impact of PMJDY accounts on rural

The Indian Express, Khushboo Narayan      October 16, 2017, Mumbai A PROBE by the Serious Fraud Investigation Office (SFIO) has found that two foreign entities controlled by liquor baron Vijay Mallya, which had a stake in Kingfisher Airlines Ltd, carried out financial transactions with a Liberia-registered entity named in the Panama Papers, after the merger of the airline with Deccan Aviation Ltd. According to the SFIO report, IQ Bridge Limited, Mauritius, and its Indian subsidiary, IQ Bridge Limited, Bangalore, controlled by Mallya and the UB Group, held 15 lakh and 52 lakh equity shares respectively in Kingfisher Airlines before its merger with Deccan Aviation. In 2007-08, Mallya transferred 89 of the 99 shares he held in IQ Bridge, Mauritius, to Liberia-registered Lombard Wall Corporate Services Inc, the report said. The SFIO report said that UB Overseas Limited (UBOL), an overseas subsidiary of United Breweries Holdings Ltd incorporated in the British Virgin Islands

The Indian Express, Sushant Singh October 16, 2017,New Delhi Five years after they were first proposed by the Armed Forces, the Ministry of Defence (MoD) is expecting the three new tri-service agencies in the field of cyber warfare, space and special operations to be raised shortly. Their formation was announced by the MoD in July this year, and the proposal is with the government for approval. “The new Defence Minister is also keen on seeing them through, and we are just awaiting requisite approvals from the Law Ministry and other government departments,” said an official source. According to sources, the proposals for the three new formations — Defence Cyber Agency, Defence Space Agency and a Special Operations Division — are with other ministries for approval as the resources for them have to come from “accretion and not under save-and-raise”. The approvals are expected “within a couple of months”, said sources, after which these agencies, to be headed by officers of t