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February 09, 2021 × ‘Fitch expects relaxation of foreign-ownership rules to attract international insurers and promote competition within the sector’ Fitch Ratings on Tuesday said Budget proposals will help Indian insurers attract foreign capital, strengthen solvency and promote competition. “The proposals could encourage global insurers to enter the fast-expanding Indian market, while international insurers already holding minority stakes in domestic companies may try to increase their ownership over the medium term,” it said in a statement. Finance Minister Nirmala Sitharaman had ...

Deluge of foreign capital marks strong start to 2021 08:00 | 05/02/2021 Deluge of foreign capital marks strong start to 2021 Intel Corporation, the US-based manufacturer of semiconductor computer circuits, last week announced injecting an additional $475 million into its plant in Vietnam, taking its total involvement in the country to $1.5 billion. The new investment will develop complex technologies like manufacturing 5G products and the next generation of Intel Core processors. Kim Huat Ooi, general manager of Intel Products Vietnam (IPV) said, “As of th...

Budget proposes to hike FDI in insurance to 74% February 01, 2021 Insurers welcome the move as insurance is a capital-intensive business Finance Minister Nirmala Sitharaman has proposed to enhance the foreign direct investment (FDI) limit in insurance to 74 per cent along with relevant safeguards. As part of the Union Budget 2021-22, she has proposed to amend the Insurance Act to increase the permissible FDI limit to 74 per cent in insurance companies and allow foreign ownership and control with safeguards. At present, FDI up to 49 per cent is permitted in insurance companies. “Under the ...

4:42 PM MYT MANILA, Jan 30 (Xinhua):The Philippine central bank has said that more foreign capital left the country in 2020 due to the uncertainties brought about by the Covid-19 pandemic, local media have reported. The Bangko Sentral ng Pilipinas (BSP) said that foreign portfolio investments (FPIs) for 2020 yielded net outflows of US$4.2 billions. The BSP said the net outflows are in the Philippine Stock Exchange (PSE)-listed shares (3.3 billion U.S. dollars), peso government securities (GS) (US$931 million), and other portfolio instruments (US$22 million). The Philippine eco...