Government notifies foreign exchange rules 2024 to simplify investments, ease of doing business

With an aim to simplify rules and regulations for foreign investments, the Department of Economic Affairs (DEA), Ministry of Finance, has notified the Foreign Exchange (Compounding Proceedings) Rules, 2024 under powers given under section 46 read with section 15 of the Foreign Exchange Management Act (FEMA), 1999.  The amended Rules will supersede the existing Foreign … Read more

Rupee strengthens against US dollar on Friday

indian rupee strengthened against the US dollar on Friday, after India’s retail inflation eased to 3.65% year-on-year in August, which below the Central Bank’s target of 4% for the second consecutive month and it indicating that price pressures are under control. Moreover, expectation of long-awaited interest rate cuts next week, weak American currency at overseas … Read more

Large office spaces reach 45 pc of overall commercial transactions in India

Large office space contributed 45 per cent of the overall commercial transactions across eight leading cities in the country in the January-June period this year, a report showed on Friday.  Transactions for office spaces above 100,000 square feet recorded a substantial YoY growth of 54 per cent in the first half of 2024 — at … Read more

Nazara invests Rs 982 crore in PokerBaazi-owner Moonshine Technology

Gaming and sports media company Nazara Technologies on Friday said it has acquired 47.7 per cent stake in Moonshine Technology, the parent company of PokerBaazi, for Rs 832 crore through a secondary transaction. Additionally, Nazara will infuse Rs 150 crore in primary capital into Moonshine via compulsory convertible preference shares.  “This investment in Moonshine Technology … Read more