News for the Month of February 2012 Competition Policy & law: CCI eases rules for group

recast In a move that will assist corporate houses undertaking group restructuring, the Competition Commission of India (CCI) has notified that the merger of wholly owned subsidiaries with the parent holding company will no longer require the approval of the antitrust body. http://www.livemint.com/2012/02/25003334/CCI-eases-rules-for-group-reca.html New competition policy will bring down food prices: Moily IANS, February 06, 2012 Describing the proposed national competition policy as the second financial revolution, that would also bring down foodgrain prices, Corporate Affairs Minister M. Veerappa Moily hoped the document will get cabinet approval by next month. http://articles.economictimes.indiatimes.com/2012-02-06/news/31030615_1_competitionpolicy-competition-law-foodgrain-prices Competition Commission amends Combination Regulations to simplify process of filings The Competition Commission of India has amended the provisions of the Competition Act, 2002 relating to regulation of combinations and the Competition Commission of India (Procedure in regard to the transaction of business relating to combination) Regulation, 2011. http://netindian.in/news/2012/02/25/00018965/competition-commission-amendscombination-regulations-simplify-process-fili CCI slaps penalty on 12 regional film bodies for anti-competitive decisions India's trade practices regulator has penalised 12 state film associations across the country for taking anti-competitive decisions, including discrimination against Hindi films and forcing producers to become their members. http://articles.economictimes.indiatimes.com/2012-02-27/news/31104297_1_hindi-films-cciproducers NaCC and BoN signed an agreement to Promote Banking Competition Namibian, February 06, 2012 THE Bank of Namibia (BoN) and the Namibian Competition Commission (NaCC) have signed an agreement which will see the two organisations working together to facilitate a competitive market in the Namibian banking industry. http://allafrica.com/stories/201202060607.html Economic Regulation RBI releases draft guidelines for Basel III norms The Reserve Bank of India (RBI) on Tuesday released draft guidelines related to the Basel III norms, an international accounting standard for banks.

http://www.livemint.com/2012/02/22005513/RBI-releases-draft-guidelines.html RBI eases forex restrictions for select PSU and private banks The Reserve Bank of India has partially lifted the curbs on banks' foreign exchange transactions imposed after the rupee came under attack from currency speculators in December. http://economictimes.indiatimes.com/news/economy/policy/rbi-eases-forex-restrictions-forselect-psu-and-private-banks/articleshow/11771154.cms Investment Climate Pranab spurs infra investment With a view to propel the economy over nine per cent growth trajectory in the coming years, Finance Minister Pranab Mukherjee unveiled a slew of measures to boost investment in the infrastructure sector. http://post.jagran.com/Pranab-spurs-infra-investment-1298882155 FIPB to mull on 54 foreign investments The government will consider 54 foreign direct investment (FDI) proposals, including the Hero Investment and Sistema Shyam Teleservices, at its meeting this week. http://post.jagran.com/FIPB-to-mull-on-54-foreign-investments-1296986245 2G licence impasse vitiates investment climate: Uninor MD Norwegian telecom major Telenor Group, which is a joint partner in Unitech Wireless Ltd, on Sunday warned that the ongoing 2G licence imbroglio will badly affect the overall foreign investment climate in the country and not just the telecom sector. http://post.jagran.com/2G-licence-impasse-vitiates-investment-climate-Uninor-MD1329674783 Hospitable investment climate for global firms Wooing global firms to invest in India's infrastructure sector, Prime Minister Manmohan Singh on Monday assured companies like Mitsubishi Corporation of "hospitable" environment. http://post.jagran.com/Hospitable-investment-climate-for-global-firms-1297086202

News For the month of June Competition Policy & Law OFT publishes competition law guidance The OFT has launched new guidance, and a film including a dramatised dawn raid, to help businesses comply with competition law.This coincides with the publication of research showing business awareness of competition law has grown but has further to go. http://www.ibtimes.co.uk/articles/20110628/oft-publishes-competition-law-guidance.htm Consider anti-trust immunity to put off delays, legal problems: ASSOCHAM The Competition Commission of India (CCI) today asked companies to consider anti-trust immunity clause if the need arises while going ahead with mergers and acquisitions to ward off procedural delays and legal tangles. http://www.orissadiary.com/ShowBussinessNews.asp?id=27044 Indian companies to pass through CCI for mergers and acquistions From today, all mergers and acquisitions by companies in India will also have to pass muster at the Competition Commission of India (CCI) an additional layer of compliance. http://www.dnaindia.com/money/report_indian-companies-to-pass-through-cci-for-mergersand-acquistions_1549700 Competition panel studying whether cartelisation led to rise in food prices In the backdrop of rising prices of food articles, the Competition Commission of India (CCI) has initiated a thorough "market study" into the agriculture sector to determine whether possible cartelisation has been the cause for it or not. http://www.financialexpress.com/news/Competition-panel-studying-whether-cartelisation-ledto-rise-in-food-prices/798656/ Economic Regulation New power policy may help you install solar panels The government is likely to come out with a solar power policy aimed at generating about 1,000 MW power by encouraging city residents across the state install solar panels atop their houses, especially multi-storeyed buildings. http://timesofindia.indiatimes.com//city/chennai/New-power-policy-may-help-you-installsolar-panels/articleshow/8671800.cms Irda to bring in rules for health insurance settlement claims After allowing portability under health insurance in 2011, insurance regulator Irda is soon coming up with a separate health insurance claims settlement regulation. http://www.indianexpress.com/news/irda-to-bring-in-rules-for-health-insurance/896376/ Investment Climate Draft manufacturing policy seeks to create mega industrial zones

A high level committee chaired by Prime Minister Manmohan Singh approved the draft National Manufacturing Policy that seeks to increase the share of manufacturing in the GDP to 25% by 2025 from the current 16%. The policy envisages creation of mega industrial zones with world class infrastructure facilities. http://economictimes.indiatimes.com/news/economy/indicators/draft-manufacturing-policyseeks-to-create-mega-industrial-zones/articleshow/8796533.cms India Trying to Build Consensus on Liberalising FDI in Retail India is trying to build a consensus on liberalising foreign direct investment (FDI) in retail and defence, finance minister Pranab Mukherjee today told a gathering of business leaders and policy makers in Washington. http://www.indianrealtynews.com/real-estate-india/india-trying-to-build-consensus-onliberalising-fdi-in-retail.html Naira rides on new investment policy to four-month high The Naira rose to a 4-month high of N151.79 to the dollar on expectation of inflow of foreign currency after the Central Bank of Nigeria (CBN) lifted restriction earlier placed on foreign investors from trading on government securities. http://www.businessdayonline.com/NG/index.php/news/76-hot-topic/23869-naira-rides-onnew-investment-policy-to-four-month-high

News for the Month of July 2011 Competition Policy & Law New competition law can boost economy It was a breath of fresh air when Finance Minister announced that a new competition law will be effective from July 2011 and that the Competition Authority will replace the oddly named monopolies and prices commission (MPC). http://www.standardmedia.co.ke/columnists/InsidePage.php?id=2000030712&cid=497& NBN: Coalition argues for greater competition Coalition members of the Joint Committee on the National Broadband Network have filed a dissenting report that suggests theTelecommunication Amendment (Fibre Deployment) Bill 2011 will have damaging effects on competition between fibre providers and NBN Co. http://www.techworld.com.au/article/392443/nbn_coalition_argues_greater_competition/ Economic Regulation: Food security Bill to allow cash payment if rains fall In order to avoid imports of grain for implementing the proposed food security Bill in years when monsoon fails, the government will include a provision in the Bill to allow beneficiaries to get cash instead of grain. http://www.financialexpress.com/news/food-security-bill-to-allow-cash-payment-if-rainsfail/817118/ Manufacturing policy suffers setbacks The Industry Ministry's proposal to ease labour and environment laws in special manufacturing zones (SEZ) has not found support from the labour and environment ministries, senior official said today. http://www.financialexpress.com/news/manufacturing-policy-suffers-setbacks/819976/ Gov allows NH health care bills to become law New Hampshire Gov. John Lynch has allowed two Republican bills that set limits on implementing the federal health care law to become law without his signature. http://www.businessweek.com/ap/financialnews/D9OFIA301.htm Investment Climate Global markets: Focus now on state of the global economy Global markets rose to their highest in three weeks as Greece approved the final austerity measures to secure international funding and avoid bankruptcy. The Greek parliament approved detailed austerity and privatisation bills required by the European Union and the International Monetary Fund in exchange for funding. http://economictimes.indiatimes.com/articleshow/9077457.cms Pension Bills silence on FDI raises eyebrows

The Parliamentary panel is now expected to seek a clarification from the finance ministry on its intention of permitting FDI in the countrys pension sector. http://www.financialexpress.com/news/pension-bills-silence-on-fdi-raises-eyebrows/818782/ Declining Trends of Investment The foreign investment related survey conducted by the United Nations in various countries should set alarm bells ringing amongst our policy makers, as it not only confirms the decline in Foreign Direct Investment (FDI) in India but also highlights perennial problems which are yet to be addressed. http://post.jagran.com/Declining-Trends-of-Investment-1311776741

News for the Month of August 2011 Competition Policy & Law Stronger competition laws on the cards The strategy involves the drafting of a competition policy, making any changes to laws and norms that government departments need to follow, said a ministry official, who did not want to be identified. http://www.livemint.com/2011/08/16224327/Stronger-competition-laws-on-t.html Tribunal allows two NGOs to intervene For the first time in its 12-year history the Competition Tribunal has granted NGOs the authority to intervene in a proposed merger under its consideration. The African Centre for Biosafety (ACB) and Biowatch South Africa have been granted leave to intervene in the proposed acquisition of local seed company Pannar Seeds by Pioneer Hi-Bred International, a subsidiary of US chemical multinational Du Pont. http://www.iol.co.za/business/business-news/tribunal-allows-two-ngos-to-intervene-1.1122969 Competition (Finland): The new Competition Act ratified The new Act repeals the Act on Restrictions on Competition currently in force and replaces it with a new Competition Act. The main changes in the new Act include, replacing the dominance test currently applied in merger control with the so-called SIEC-test (significant impediment of effective competition), which is applied by the European Commission. http://lexuniversal.com/en/news/14852 Economic Regulation: Economic uncertainties present new opportunities to India: FM Against the backdrop of overall investor sentiment being hurt by global economic uncertainties, Mukherjee said India could also emerge as a safe haven for global capital inflows http://www.livemint.com/2011/08/29182542/Economic-uncertainties-present.html Obamas Seven New Regulations Would Cost U.S. Economy Billions President Obama sent a letter to House Speaker John Boehner (R-Ohio) Tuesday detailing seven new regulations that would each cost the U.S. economy more than $1 billion annually. With regulatory costs for American businesses of at least $38 billion per year and compliance costs of $100 billion per year, the seven proposed regulations would target transportation and the environment. http://www.thenewamerican.com/economy/commentary-mainmenu-43/8820-obamas-sevennew-regulations-would-cost-us-economy-billions Draft vaccine policy puts focus on priority diseases Draft calls for research fund, public-private partnership in product development and building infrastructure http://www.livemint.com/2011/08/14231754/Draft-vaccine-policy-puts-focu.html

National Manufacturing Policy on the anvil: Government The Cabinet will soon take up for consideration a National Manufacturing Policy that aims at raising contribution of manufacturing in the country's GDP from 16 per cent now to 26 per cent by 2025 and creating 100 million jobs in next 10 years. http://post.jagran.com/National-Manufacturing-Policy-on-the-anvil-Government-1314184231 Investment Climate Uttarakhand announces new Agriculture Policy The new agriculture policy came after the government approved the new APMC Act that seeks to promote private players in the sector and allow setting up of private mandis. http://post.jagran.com/Uttarakhand-announces-new-Agriculture-Policy-1312295430 Tata investments in America lauded for the importance of Foreign Direct Investment (FDI) Highlighting Tata investments in the United States, a top US official has stressed the importance of foreign direct investment (FDI) to create jobs and economic growth in the United States. http://post.jagran.com/Tata-investments-in-America-lauded-for-the-importance-of-ForeignDirect-Investment-FDI-1314349569