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  • India relaxes rules for foreign investment in real estate
    India relaxes rules for foreign investment in real estate

    NEW DELHI (Reuters) - The cabinet on Wednesday relaxed rules to allow foreign funds to invest in real estate investment trusts (REITs), a move designed to revive the country's capital-starved property sector. The government introduced REITs last year to pool in capital from overseas and help developers reduce their debt. But provisions in the Foreign Exchange Management Act (FEMA) have, thus far, prevented actual investment flows. The FEMA governs cross-border transactions. ... …

  • India investigates bank accounts of Gates Foundation - source
    India investigates bank accounts of Gates Foundation - source

    By Rupam Jain Nair NEW DELHI (Reuters) - India is investigating the finances of the Bill & Melinda Gates Foundation, a senior Home Ministry official said on Wednesday, part of a growing crackdown on thousands of foreign funded charities and activists that has alarmed Washington. A spokeswoman for the Gates Foundation said it had not been informed of any investigation. Home Ministry spokesman K.S. Dhatwalia denied the government was investigating it. The senior ministry official, who has …

  • Bollywood star Salman Khan gets 5 years in prison for hit-and-run
    Bollywood star Salman Khan gets 5 years in prison for hit-and-run

    By Shilpa Jamkhandikar MUMBAI (Reuters) - A court sentenced Bollywood film star Salman Khan on Wednesday to five years in prison for killing a man in a hit-and-run accident, the latest twist in the tumultuous career of one of the country's biggest box-office draws. The district criminal court's order drove down shares of firms connected to the actor and, if upheld, will derail major projects in the pipeline of what is the world's most prolific movie industry. …

  • India closer to biggest tax reform in decades
    India closer to biggest tax reform in decades

    By Rajesh Kumar Singh NEW DELHI (Reuters) - A major tax reform cleared a key hurdle in the parliament on Wednesday, when the Lok Sabha passed a bill to replace a patchwork of levies by the central and state governments with a single nationwide sales tax. One of major reforms proposed by Prime Minister Narendra Modi, the goods and services tax (GST) has been hailed by Finance Minister Arun Jaitley as the biggest reform in India since independence in 1947. Approval in the Lok Sabha marks an …

  • Sania Mirza wants to inspire girls across subcontinent
    Sania Mirza wants to inspire girls across subcontinent

    By Amlan Chakraborty NEW DELHI (Reuters) - Outside Bollywood films, Sania Mirza might be the only Indian success welcomed as warmly in neighbouring Pakistan and the 28-year-old expects her doubles feats to inspire girls on both sides of the border to pick up a tennis racquet. Mirza has long been the face of the women's game in India and her high-profile cross-border wedding to Pakistani cricketer Shoaib Malik five years ago placed her in a unique position. Malik's international career has …

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