User: subbu Topic: Land Issues
Category: SEZ
Last updated: May 24 2018 12:12 IST RSS 2.0
 
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Volumes spurt at Adani Ports & Special Economic Zone Ltd counter 24.5.2018 General News
Adani Ports & Special Economic Zone Ltd notched up volume of 14.43 lakh shares by 10:54 IST on BSE, a 17.97 fold spurt over two-week average daily volume of 80290 shares
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APSEZ incorporates wholly-owned arm Adani Bhavanapadu Port 22.5.2018 General News
Adani Ports and Special Economic Zone (APSEZ) today said it has incorporated a wholly-owned subsidiary - Adani Bhavanapadu Port Private Limited Ltd (ABPPL). The newly formed entity which would operate in the port sector is yet to commence operations, APSEZ said in a BSE filing. "APSEZ has incorporated wholly-owned subsidiary company 'Adani Bhavanapadu Port Private Ltd' on May 21, 2018," it said. Elaborating on the details, APSEZ said it has acquired 50,000 equity shares of Rs 10 each in ABPPL, for Rs 5 lakh. APSEZ has 10 strategically located ports and terminals on both western and eastern coastline of India, representing 24 per cent of India's total port capacity. Shares of the company today closed 0.90 per cent down at Rs 380.35 apiece on BSE.
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Sagarmala proj faces resource mobilisation challenges: Study 22.5.2018 General News
The government's Rs 8 lakh crore shipping and ports initiative, Sagarmala, faces challenges like timely investment mobilisation and budgetary support, according to domestic rating agency Icra. It, however, said from a long-term perspective, the shipping and ports sector should benefit from the ambitious programme aimed at expanding the coastal and inland waterways. "Challenges would remain in terms of mobilisation of the investments in a timely manner, allocation and availability of adequate budgetary support," Icra said in a note on the shipping sector. It added that creating a conducive business environment and tangible incentives for the private players is also a challenge. The Sagarmala programme was launched under the port-led growth model and aims to invest Rs 8 lakh crore to create new mega-ports, modernise existing facilities and also have special economic zones adjoining the ports, to create over 1.5 lakh new jobs. Icra said the domestic shipping companies have
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Bank of Baroda consolidates operational activities at GIFT City 20.5.2018 General News
State-owned Bank of Baroda today said it has consolidated all its operational activities at a shared service center (SSC), which employs over 2,000 people, at Gujarat's GIFT City. Operational services such as retail loan processing, deposit account opening, forex transactions, call center, among others have been migrated to the SSC. "The SSC employs more than 2,000 staff, making Bank of Baroda one of the largest employers in the Ahmedabad-Gandhinagar region," the lender said in a statement. The bank said it has taken 20,000 sq, ft of office space in GIFT City, making it the first India bank to actually move a lots operations to the smart city. Some other banks have already opened branches and representative offices there. The bank has been on a journey of rapid transformation in its services and processes over the last two years. Part of the transformation in processes was the idea to move the operations at the branch level to a centralised facility. This frees space at the branches ..
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Services to push Maharashtra to $1-trillion economy: Fadnavis 16.5.2018 Hindu: Cities
Mumbai: The services sector will have a large role to play in making Maharashtra a trillion-dollar economy by 2025, according to Chief Minister Deven
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India seeking foothold in ASEAN through Myanmar-Experts 15.5.2018 General News
India's change in approach from a 'Look East' policy to an 'Act East' policy is aimed at gaining a foothold in the Association of South East Asian Nations (ASEAN), experts familiar with these moves have said in the wake of the recent visit to Myanmar by External Affairs Minister Sushma Swaraj.In an interaction with the Myanmar Times, Professor Prabir De of the ASEAN-India Centre, which is a part of the Research and Information System for Developing Countries, said the completion or near completion of the Sittwe and Dawei projects in Myanmar is very important for India's efforts to establish a link with ASEAN countries through Myanmar."Digital connectivity and infrastructure are important for boosting links with Myanmar," Professor De was quoted as saying.He, however, pointed out that both India and Myanmar are guilty of missing out on several deadlines for projects, despite having access to a USD 1.75 billion special fund it has extended to ASEAN.It may be recalled that both India ...
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Diamond biz in India will continue to grow this year: De Beers 13.5.2018 General News
De Beers, the world's largest diamond producer, has said the business in the country will continue to grow this year despite dampened sentiments following Nirav Modi-led PNB fraud. "There has been this banking scandal, that is clearly a fraud, and had certainly dampened sentiments little bit.... But having said that, I think consumer demand in India, as we have Forevermark brand, is doing very well. "It's been an unfortunate incident but the demand in India this year would be reversed, would be good and the business in India will continue to grow in 2018," De Beers Group CEO Bruce Cleaver told PTI here. Diamond merchants Nirav Modi and his uncle Mehul Choksi are alleged to have perpetrated the country's biggest banking sector scam of Rs 13,000 crore at Punjab National Bank, mainly by way of issuance of fraudulent Letters of Undertaking (LoUs). The Centre has also intervened in the bankruptcy proceedings of Nirav Modi firms in the US to protect the interests of PNB. Meanwhile, Cleaver .
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Three development zones mooted for district 12.5.2018 Hindu: Home
Spatial plan proposes special economic zone for Kozhikode
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Rajgurunagar-Khed SEZ cancelled due to injustice to farmers: 11.5.2018 General News
Maharashtra Chief Minister Devendra Fadnavis today said that his government cancelled the Rajgurunagar-Khed Special Economic Zone (SEZ) as injustice was done to the farmers of the area. Fadnavis had recently cancelled the SEZ and had also waived off the stamp duty on the transfer of land to project-affected people of four villages, Nimgaon, Kanersar, Dawadi and Kendur. Fadanvis was speaking to a farmers' delegation, led by Hatkanangle Lok Sabha MP Raju Shetti, which met him to thank him for this decision. "The government has always given priority to the interests of farmers. When acquiring land, maximum compensation should be given. Efforts have been made to see that the rehabilitation of projected affected people is done well," Fadnavis said. Shetti hailed the Maharashtra CM's decision as positive and pro-farmer. In 2007, 1,250 hectares of land was acquired for the SEZ from the four villages in 2007. According to the contract, 15 per cent of this land was to be ...
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Hotel, restaurant services provided to SEZ units taxable under GST: AAR 10.5.2018 DNA: Bangalore
Hotel, restaurant services provided to SEZ units taxable under GST: AAR
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Hotel, restaurant services provided to SEZ units taxable under GST: AAR 10.5.2018 General News
Hotel or restaurant services provided to SEZ developers or units will not be treated as 'zero-rated' supplies and hence will be taxable under the Goods and Services Tax (GST) regime, the Authority for Advance Ruling (AAR) has said. In an application filed before the Karnataka bench of the AAR, the applicant had sought to clarify whether hotel accommodation and restaurant services provided by them, within the premises of the hotel, to the employees and guests of SEZ units be treated as supply of goods and services. "The hotel accommodation and restaurant services being provided by the applicant, within the premises of the hotel, to the employees and guests of SEZ units, cannot be treated as supply of goods and services to SEZ units in Karnataka and hence they are the intra-state supply and are taxable accordingly," the AAR order said. In the earlier service tax regime, the law provided that only services which are labelled as "authorised operation" will be treated as zero-rated supply .
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Zydus Cadila gets USFDA nod for Carbidopa tablets 10.5.2018 General News
Drug firm Zydus Cadila today said it has received approval from the US health regulator to market Carbidopa tablets, used to treat symptoms of Parkinson-disease, in the American market. The company has received final approval from the US Food and Drug Administration (USFDA) to market the product, Zydus Cadila said in a statement. The product is used in a combination (levodopa/carbidopa) to treat symptoms of Parkinson's disease or Parkinson-like symptoms such as shakiness, stiffness, and difficulty in moving. The drug would be manufactured at the group's manufacturing facility at SEZ, Ahmedabad. Zydus group now has more than 190 approvals and has so far filed over 320 abbreviated new drug applications (ANDAs) with the USFDA.
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Zydus Cadila gets USFDA nod for Carbidopa tablets 10.5.2018 General News
Zydus Cadila has received final approval from the US health regulator to market Carbidopa tablets, used for treating symptoms of Parkinson's disease. Parkinson's symptoms include shakiness, stiffness and difficulty in moving. Zydus Cadila has received the final approval from the USFDA to market Carbidopa tablets (25 mg), the company said in a BSE filing. The approved product will be manufactured at the group's manufacturing facility at SEZ, Ahmedabad. The Zydus group has more than 190 approvals and so far filed over 320 abbreviated new drug applications (ANDAs) since it started filings in 2003-04. Shares of Cadila Healthcare, the listed entity of the group, were up 0.31 per cent at Rs 401.75 per scrip on BSE today.
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Prabhu asks ministries to prepare action plan to boost exports 8.5.2018 General News
Commerce and Industry Minister Suresh Prabhu today asked various departments and ministries, including agriculture and pharma, to submit their respective action plans for boosting exports. Addressing secretaries and senior officers of different departments at the first inter-ministerial meeting on Sectoral Export Promotion Strategy, he asked them to submit their plans within a fortnight, an official statement said. "The action plan should also have short term targets which are achievable in the next two months," the ministry said. He said that exports are strategically important for the country and sustained growth in the shipments is critical for India. "It is therefore imperative to promote exports as a combined and joint mission which requires the effort of all ministries and departments of the government," he added. The commerce ministry will take the assistance of the ministry of external affairs to implement the action plans through commercial missions abroad. Emphasising on the
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Port of Antwerp keen on tie-ups with Vizag exporters 7.5.2018 Hindu: National
The Antwerp Port Authority is keen on exploring the export cargo from Visakhapatnam to Antwerp, which is being showcased as the gateway to the Europe
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CBI books former PEC CMD A K Mirchandani, other officials for cheating 5.5.2018 Business Standard: Today
PEC had entered into 15 agreements between 2010-12 with Pisces Exim Ltd for export of iron ore to a foreign buyer for which funds were released by it, they said
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‘Iruttu Araiyil Murattu Kuththu’ review: A juvenile adult comedy that’s ridiculous when it’s not funny 4.5.2018 Hindu: Medicine & Research
Adult comedies are to cinema what special economic zones are to a country. They work on a different set of rules. And with adult comedies, there’s ju
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Sensex, Nifty settle at over 1-week low 4.5.2018 General News
Trading for the week ended on a subdued note as the key benchmark indices logged modest losses weighed by selling pressure in index pivotals ITC, HDFC and Reliance Industries. The barometer index, the S&P BSE Sensex, lost 187.76 points or 0.53% to settle at 34,915.38. The Nifty 50 index fell 61.40 points or 0.57% to settle at 10,618.25. The Sensex and the Nifty, both, settled at over 1-week low.
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Results of APSEZ within expectations:Moody's 4.5.2018 General News
Moody's Investors Service today said financial results reported by Adani Ports and Special Economic Zone Ltd (APSEZ) for the year ending March 2018 were within its expectations. "Adani Ports and Special Economic Zone Ltd's (APSEZ) (Baa3 stable) results for full year ending March 2018 (FY2018) are within Moody's expectations," the global rating agency said in a statement. The port developer and terminal operator's consolidated revenue from operations on year-on-year basis in FY'18 was up by 34 per cent at Rs 11,323 crore. "FY2018 performance for APSEZ was driven by seven per cent year on year (YoY) growth in cargo volumes and a strong 5.4x growth in Special Economic Zone (SEZ) income compared to FY2017," Abhishek Tyagi, a Moody's vice-president and senior analyst said. APSEZ's coal cargo volumes in 2017-18 were negatively impacted by lower utilisation rate of Adani Power's 4.6 GW Mundra power project. "The strong growth in SEZ income in FY2018 was driven by recognising of revenues ...
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Adani Ports up 3% on post Q4 results 4.5.2018 Business Standard: News Now
The stock was trading 2.6% higher at Rs 407, the top gainer among S&P BSE Sensex at 01:50 pm.
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