Offshore Investment

Adani Ports acquires 80% stake in Astro Offshore for Rs 1,551 crore

Astro Offshore is a leading global OSV operator in the Middle East, India, Far East Asia, and Africa

Petrobras CEO pushes offshore oil prospect as matter of national interest

In her first public comments since taking the company's helm on Friday, Chambriard said replenishing oil reserves was a priority for Petrobras

12 offshore funds investing in Adani Group breached disclosure rules: Sebi

Sebi has issued notices to 12 offshore investors earlier this year associated with the Adani group, seeking clarification on the violations of disclosure requirements and investment limits

Indian pipe manufacturer Global Seamless to invest $35 million in Louisiana

An India-based pipe manufacturing company has announced that it will invest USD 35 million to establish its first US production facility in northwest Louisiana and expects to create hundreds of jobs in the region. Howrah-based Global Seamless Tubes & Pipes exports its products to industry customers in more than 10 countries worldwide. Its Louisiana facility will have advanced machinery that integrates both hot-finishing and cold-drawn manufacturing processes in the same unit, positioning the company to meet growing demand better and build a domestic supply chain for North American customers in engineering, oil and gas and power generation sectors, according to a press statement. The company expects to create 135 direct new jobs in DeSoto Parish. Louisiana Economic Development (LED) estimates the project will result in 251 indirect new jobs, for a total of 386 potential new jobs in the Northwest Region. As a natural gas hub and a key player in the international energy supply chain,

China tightens some trading restrictions for domestic, offshore investors

Some quantitative hedge funds meanwhile were banned from placing sell orders completely starting Monday, while others were barred from cutting stock positions in their leveraged market-neutral funds

Adani-Hindenburg case: Sebi defends rule change on offshore investors

The Supreme Court will hear the ongoing Adani-Hindenburg case on Tuesday. The regulator has until Aug. 14 to submit its report

SBI raises $750 mn through bonds to fund offshore business growth

State Bank of India (SBI) on Thursday said it has raised USD 750 million through bonds to fund offshore business growth. The country's biggest lender has concluded the issue of USD 750 million senior unsecured fixed rate notes having maturity of 5 years and coupon of 4.875 per cent payable semiannually under Regulation-S, SBI said in a filing. "The bonds will be issued through our London branch as of May 5, 2023 and shall be listed on Singapore Stock Exchange and India International Exchange, GIFT City," it said. Earlier this month, the bank's board had approved a proposal to raise USD 2 billion (about Rs 16,000 crore) from bonds to fund its global operations.

GST officers find tax evasion by offshore entities offering online betting

Tax officers have detected violation of GST law by offshore entities offering online betting and gambling platforms to Indian residents through mobile apps and are working on ways to tackle such mode of tax evasion, a source said. As per the prescribed procedure, all offshore entities providing services in India are required to register as supplier of OIDAR (Online Information Database Access and Retrieval) services under the Goods and Services Tax (GST) law. According to the source, there are many offshore entities providing platforms for online betting and gambling in the country but are not GST-registered and hence are not paying the required GST. "Although several overseas educational bodies offering online courses in India are registered as OIDAR, the entities providing online gaming, betting ad gambling platforms are not registered under GST. We are pursuing such cases and hope to bring them under the GST net," the source told PTI. These online betting and gambling apps are .

Leaders under fire as leaked papers open 'Pandora' box of financial secrets

Hundreds of leaders, politicians, billionaires, celebrities, and drug dealers have been hiding investments in mansions, yachts and other assets for past quarter-century, according to Pandora Papers

India, Indonesia score big on offshore investment inflows

Offshore investment spurted most for local bonds in these two countries, says an HSBC report