Briefly Business

Govt approves 16 FDI proposals

NEW DELHI: The government on Tuesday said it has cleared 16 foreign direct investment FDI proposals amounting to Rs 923.55 crore,including those of Star News Broadcasting Ltd and Lamp;T Finance Holdings. A total of 38 FDI proposals were taken up by the Foreign Investment Promotion Board FIPB,but the board deferred a decision on 14 application,the finance ministry said in a statement.

Speak Asia gets funds from Singapore bank

New Delhi: Multi-level marketing company Speak Asia on Tuesday said it has received funds from Singapore-based United Overseas Bank,which closed the entity8217;s account last month. We wish to also inform that more than 16 million is available for use and disbursal as soon as a new account is opened, Speak Asia said.

Vijaya bank revises rates on term deposits

Bangalore: Vijaya Bank revised interest rates on domestic term deposits with effect from Tuesday. Deposits for one year to less than two years would fetch interest rate of 9.25 per cent per annum and two years to less than three years 9.35 per cent per annum.

PowerGrid keen on stake in foreign projects

New Delhi: Central transmission utility PowerGrid Corp has said it is keen to pick up equity in projects overseas and may open offices in Oman,Dubai or Kenya. We are open to taking equity stake in transmission assets abroad8230;thinking about opening offices in the Middle-East,either Oman or Dubai UAE, a company official said.

Sebi settles case against Premier Shares

Mumbai: Sebi on Tuesday settled and passed a consent order in a case against Premier Shares Ltd on payment of Rs 30 lakh for the firms alleged role in irregularities in conducting business as a broker.