NRI investment, on a non-repatriation basis, in Indian firm will be treated as domestic

Dubai: The clarification issued by India’s Department for Promotion of Industry and Internal Trade (DPIIT) that investments by NRIs on a non-repatriation basis are deemed to be domestic investment at par with the investments made by residents brings more clarity to the legal treatment of these businesses. Investment on repatriation basis means the sale or […]

Abu Dhabi’s Mubadala says it brought Russia’s RDIF into Telegram bond stake

Dubai: Abu Dhabi’s Mubadala Investment Co. said the Russian Direct Investment Fund participated in its deal to buy convertible bonds of Telegram, even as the fiercely independent messaging app said it doesn’t want the Kremlin-controlled entity as an investor. Russian-born founder Pavel Durov took Telegram to Dubai several years ago after being forced to sell […]