Aaron Chaze

Between 2012 and 2020, the Indian government attempted to retroactively tax 17 foreign multinational companies.

India's attempt to collect taxes from companies retroactively appears to be backfiring.

62 million square feet of Indian commercial space have been converted to REITs in the last decade and another 144 million square feet are to be converted over the next three to four years.

A younger, digitally savvy generation is now powering online insurance sales in an unprecedented manner.

Facebook adds a new trick to its playbook: junior partnership.

The Indian government's mobile payments platform sees 1.3 billion transactions per month.

India shifts policy to generate foreign investment in coal industry.

Canadian investors clashed with Encana's new American CEO who eventually decided to move the company closer to home.

EMERGING MARKETS ROUNDUP By Aaron Chaze For the first time ever, the Indian central bank, the Reserve Bank of India, is looking at setting a long-term inflation target as part of a new monetary policy mechanism, after interest rates were ...

EMERGING MARKETS ROUNDUP By Aaron Chaze Amid what is being regarded as India’s worst financial crisis in more than a decade—with the currency having plunged 15.9% against the US dollar in the third quarter, GDP growth at 4.4% in the ...

STRONG RESPONSE TO NEW BANKING LICENSES   By Aaron Chaze   As of early May nearly 100 Indian corporate entities have expressed interest in the Reserve Bank of India’s invitation for applications for new bank licenses.   Photo Credits: RUPA / ...

RESERVE BANK OF INDIA PUSHES FOR GROWTH WITH RATE CUT   By Aaron Chaze The Reserve Bank of India (RBI) cut interest rates for the first time in nine months on January 30, reducing the repo rate by 25 basis ...

HIGH INTEREST RATES AND RISING FUEL COSTS HIT AUTO SECTOR   By Aaron Chaze   Indian car sales slipped 12.5% year-on-year, to 141,083 units, in December, according to the Society of Indian Automobile Manufacturers (SIAM).   Heavy-vehicle sales (trucks and buses) ...

FDI Reforms Get Parliamentary Approval   By Aaron Chaze   Both the lower and upper houses of India’s parliament voted during the first week of December to allow foreign direct investment in India’s domestic retail sector—a major win for prime ...

RBI TIGHTENS CREDIT-PROVISIONING NORMS FOR INDIAN BANKS   By Aaron Chaze   As growth slows in India, the central bank is pushing banks to prepare for higher credit costs.   One of the measures adopted by the Reserve Bank of India ...

CONFIDENCE RISING   By Aaron Chaze   Economic policy reforms are having the desired effect: The confidence level of Indian businesses is on an upswing.   A survey by research firm Dun & Bradstreet shows that Indian companies now expect greater ...

DOMESTIC CONCERNS PUSH INDIAN COMPANIES TO INVEST OVERSEAS   By Aaron Chaze   Overseas direct investment by Indian companies rose to $1.95 billion in August from $1.24 billion the previous month.   Sugar futures dropping on late monsoon season According ...

COCA-COLA AND IKEA STEP UP INVESTMENT IN INDIA, DESPITE SLOWING GROWTH   By Aaron Chaze   Ikea, the Swedish retailer, has applied to the Indian government for permission to open 25 stores across the country, investing $1.9 billion in the ...

GOVERNMENT TO SELL OFF STAKES, REDUCE DEFICIT   By Aaron Chaze   The administration announced renewed efforts to sell stakes in government-run companies in order to reduce the fiscal deficit.   It plans to raise INR300 billion ($5.4 billion) by ...

S&P, CITING POLICY PARALYSIS, CUTS INDIA’S RATINGS OUTLOOK   By Aaron Chaze   S&P cut India’s sovereign credit rating outlook to negative in April in response to growing paralysis in government policy.   India’s rating remains at BBB-, the lowest investment-grade ...

FOREIGN INVESTORS MAY EXIT IF FAVORABLE TAX TREATMENT DISAPPEARS   By Aaron Chaze   Foreign investors routing investments to India through Mauritius could potentially be taxed on their short-term gains, under a tax law amendment that was proposed in the recently ...

PRIVATIZATION PROGRAM FAILS TO MEET TARGETS   By Aaron Chaze   The Indian government pushed to meet targeted privatizations for the 2011–2012 fiscal year.   Powering up India’s thermal power plants The Indian government gave a final—and less-than-successful—push to meet ...

CHINESE BANKS TO REFINANCE INDIAN CORPORATE LOANS   By Aaron Chaze   Three major Chinese banks were central to one of India's largest-ever corporate refinancings of foreign currency debt.   Reliance Communications, India's second-largest cellular operator, controlled by billionaire Anil Ambani, successfully raised US$1.18 ...

INDIA TAKES STEPS TO CURB FALLING CURRENCY   By Aaron Chaze   The Indian government finally took steps to bolster inflows of US dollars after the rupee fell by 13% during the last three months of 2011.   Giving buying ...

NEWSMAKERS: INDIA   By Aaron Chaze   After two decades leading India’s largest and most respected conglomerate, Ratan Tata will step down in December 2012 as chairman of Tata Sons—the holding company that runs the $83 billion Tata group of companies, with ...

SINKING PUPEE AFFECTS CORPORATE DEBT REPAYMENT   By Aaron Chaze   Corporate borrowers in India have been hard hit by the rupee slide—the currency fell 18% over the dollar between January and November, 2011, and fell 7% in November alone.   ...

SLACKENING M&A; MAY PICK UP AS MONETARY POLICY EASES   By Aaron Chaze   Corporate dealmaking in India has declined in the period of the year through October 2011.   Indian Internet penetration grows According to global consulting firm Grant ...

DECLINING SALES HIT INDIAN AUTO INDUSTRY   By Aaron Chaze   The Society of Indian Automobile Manufacturers (SIAM) has significantly lowered the growth forecast for car sales in the domestic market for fiscal 2012 from between 10% and 12% to ...

FOREIGN INSTITUTIONAL INVESTOR FLOWS START TO DECLINE   By Aaron Chaze   Inflation fears, monetary tightening and slowing corporate growth may reduce foreign institutional investor interest.   Reserve Bank of India cites strong outward investment by Indian firms Worries over inflation, ...

CENTRAL BANK CHOOSES SLOWER GROWTH OVER HIGHER INFLATION   By Aaron Chaze   The Reserve Bank of India (RBI) has become the most proactive central bank in Asia for monetary tightening.   Indian stock exchanges are performing poorly in 2011 ...

EMERGING MARKETS ROUNDUP: INDIA   by Aaron Chaze   Tata Steel: Trimming debt In an attempt to trim its debt, India’s largest steel producer, Tata Steel, is to sell its 26.3% stake in Riversdale Mining, the Australian Stock Exchange–listed coal ...

INDIA SHORTLISTS EUROPEAN FIGHTERS FOR $11 BILLION CONTRACT   By Aaron Chaze   After a fiercely contested bidding process, which involved President Obama’s pitching in on behalf of US aerospace firms, the Indian government has announced the finalists in the ...

Tata Steel Forges Ahead With Hybrid Securities Issue   By Aaron Chaze   Tata Steel is the first Indian company outside of the banking sector to raise capital by issuing a hybrid security.   Mill power: Tata shows its muscle ...

POWER SECTOR INSTALLS RECORD GENERATING CAPACITY   By Aaron Chaze   India’s power sector has installed the highest generating capacity ever in any fiscal year during the first nine months of the 2010-11 fiscal year.   India powers up its ...

ROUNDUP: INDIA   By Aaron Chaze   The Indian government’s Central Statistical Office (CSO) unveiled a new consumer price index that it says will measure inflation more accurately.   Stepping up: India’s mobiles get boost The government currently uses the ...

  ROUNDUP: INDIA   By Aaron Chaze   New Delhi–based IndiGo, India's third largest domestic airline, placed the world's largest single order ever for commercial jetliners.   Flying high: IndiGo places record-breaking aircraft order IndiGo ordered 180 aircraft with a ...

ROUNDUP: INDIA   By Aaron Chaze   India's craving for luxury cars grows Significant improvement in heavy industrial sectors drove up India's Index of Industrial Production (IIP) by nearly 11% year-on-year during October 2010, a significant step up from September's ...

ROUNDUP   By Aaron Chaze   The other black gold: Coal India sparks investor frenzy Coal India, the world's largest coal mining company and one of the Indian government's mega disinvestments, became the largest IPO ever in India and one ...

ROUNDUP   By Aaron Chaze   Mining a rich seam: Coal India lines up India’s largest IPO India's financial markets regulator, the Securities and Exchange Board of India (SEBI), says it will soon allow the auction of Indian government bonds ...

ROUNDUP   By Aaron Chaze   With its fifth rate rise of the year India's central bank, the Reserve Bank of India, launched another attack on inflation last month. The bank upped its key rate to 6.0% from 5.75% in ...

Roundup   By Aaron Chaze   On the move: Car sales jumped significantly in India Auto sales in India increased sharply over the past year, with the Society of Indian Automobile Manufacturers claiming sales have jumped by 50% since January ...

ROUNDUP   By Aaron Chaze   Strong sales: Mahindra & Mahindra’s popular SUV In the face of rising inflation and GDP growth, India’s central bank, the Reserve Bank of India surprised observers with a higher-than-expected interest rate hike. The RBI ...

ROUNDUP   By Aaron Chaze   Faced with a daunting budget deficit, the Indian government has decided to risk a painful backlash by India’s poor and eliminate price controls on gasoline. The government also cut subsidies on diesel, LPG and ...

Roundup   By Aaron Chaze   Desperate: India needs to spend $1 trillion on infrastructure The Indian government is planning to establish an $11 billion infrastructure debt fund with the objective of investing in the power sector and in roads ...

Roundup   By Aaron Chaze   Reliable growth: India’s largest company expands its reach Reliance Industries, India's largest company by market value and owner of both India's largest gas field and the world's largest crude-refining complex, has successfully acquired a ...

Roundup   By Aaron Chaze   Calling plan: Bharti Airtel is expanding into new markets As the Indian wireless markets become ever more competitive, local companies are looking overseas for potential growth. South Asia’s largest wireless carrier, Bharti Airtel, for ...

Roundup   By Aaron Chaze   Steeling the show: India enhances its steelmaking capacity As part of its drive to raise over $3 billion from power privatizations, the Indian government is poised to offer global institutional investors a 5% stake ...

Roundup   By Aaron Chaze   Not for sale: India’s farmers are resisting land acquisitions India’s government is forging ahead with its privatization program and has asked various ministries for a list of companies that could be considered for disinvestment— ...

Roundup   By Aaron Chaze   Poor transport infrastructure weighs on India’s competitiveness The Indian government’s privatization program has received a shot in the arm after the Cabinet Committee on Economic Affairs (CCEA) gave the green light to a proposal ...

Roundup   By Aaron Chaze   In a sign of returning confidence, corporate India is rushing to market with a rash of IPOs and share offerings. During the last week of September alone, 20 Indian companies filed draft prospectuses with ...