Weekly NewsWeekly News(14(14thth Feb-20 Feb-20thth Feb) Feb)

Dip in FDI not a Reflection of Dip in FDI not a Reflection of Government PoliciesGovernment Policies

FDI inflows had fallen in 2009-10 to about $25.8 FDI inflows had fallen in 2009-10 to about $25.8 billion as the global economy reeled under the billion as the global economy reeled under the effects of an international financial crisis. effects of an international financial crisis.

Even in this fiscal, a huge upswing in FDI is not Even in this fiscal, a huge upswing in FDI is not very likely. From April-November 2010, FDI very likely. From April-November 2010, FDI inflows stood at $14 billion.inflows stood at $14 billion.

Budget 2011: Govt mulls tighter Budget 2011: Govt mulls tighter international tax normsinternational tax norms

The government is considering tightening The government is considering tightening taxation norms for Indian companies having taxation norms for Indian companies having intermediary holding entities in overseas intermediary holding entities in overseas locations, as part of its efforts to increase its tax locations, as part of its efforts to increase its tax revenues. revenues.

The government may propose strict norms for The government may propose strict norms for disclosure to tax department about investments disclosure to tax department about investments and interests in overseas entities.and interests in overseas entities.

Mahindra to relaunch two Logan Mahindra to relaunch two Logan variants without Renault brandvariants without Renault brand

As Renault prepares for its solo run in the Indian As Renault prepares for its solo run in the Indian market, Mahindra also gears up to sell the market, Mahindra also gears up to sell the Logan with a new name, sans the Renault tag Logan with a new name, sans the Renault tag and its diamond-shaped logo. and its diamond-shaped logo.

Mahindra and Renault had last year dissolved Mahindra and Renault had last year dissolved their JV - Mahindra Renault Pvt Ltd - after poor their JV - Mahindra Renault Pvt Ltd - after poor response to Logan.response to Logan.

Mahindra bought out Renault's 49% equity in Mahindra bought out Renault's 49% equity in MRPL, gaining full control over the company. MRPL, gaining full control over the company.

Budget 2011: FIEO demands Budget 2011: FIEO demands exemption of import duty of filter exemption of import duty of filter

paper for tea bagspaper for tea bags FIEO has demanded complete exemption from FIEO has demanded complete exemption from

the present level of import duty of 10% on import the present level of import duty of 10% on import of filter paper for tea bags.of filter paper for tea bags.

Tea bags and instant tea are gaining preference Tea bags and instant tea are gaining preference amongst consumers of India and abroad. Filter amongst consumers of India and abroad. Filter papers are not produced in India. Import of filter papers are not produced in India. Import of filter paper is required for manufacture of tea bags in paper is required for manufacture of tea bags in India.India.

LG puts hopes on 'next LG puts hopes on 'next generation' 3D TVgeneration' 3D TV

Seoul-based LG Electronics showed off its Seoul-based LG Electronics showed off its Cinema 3D TV, company hailed it as the ``next Cinema 3D TV, company hailed it as the ``next generation'' in the sector as it went on sale in the generation'' in the sector as it went on sale in the domestic market. domestic market.

LG's new TV utilizes lighter glasses like those LG's new TV utilizes lighter glasses like those worn at 3D movie theaters.worn at 3D movie theaters.