Friday, November 30, 2012

SP Investments first to get India retail FDI license

SP Investments International, the international investment arm of the Jolly Roger Group has bagged the first retail FDI license issed in India. Amina Aziza, spokesperson for the company said in a press conference today that the Government of India had approved their license to invent in retail services in the country. The company would register a fully owned Indian subsidiary and begin operations in the next couple of months.

Ms Aziza said that the company would begin operations in cities and towns along the coastline, Lakshadweep, and the Andaman and Nicobar islands, before moving inwards into the country. The first set of retail outlets would be started in cities such as Mumbai, Mangalore, Chennai, Thiruvananthapuram, Kolkata, which are the more densely populated cities along the Indian coastline. In a separate note, Mr J. BlackBeard, the CEO of Jolly Roger Group, which is the parent company of SP Investments International, thanked the Indian government for approving the license and also commended the employees of SP Investments for their efforts.

FDI in retail was approved after a prolonged debate between political parties. The Congress which heads the current coalition faced opposition from within the coalition.

SP Investments is based out of Somalia and already has investments in marine transportation and marine security.

(SP Investments : Somalian Pirates' Investments)

Wednesday, November 28, 2012

Mamata institutes Bal Thackeray Award for Cartoonists

West Bengal Chief Minister Mamata Bannerjee pulled an apparent volte face today and announced the Bal Thackeray Memorial Award for cartoonists in India. Mamata's public image had suffered after her act of calling students as Maoists when questioned about Government policies, and arresting Professor Ambikesh Mahapatra earlier this year for poking fun at her. Recently, Press Council Chairman, Justice (Retd) Markandey Katju had recently said that Mamata is intolerant to criticism and wants to be surrounded by yes-men.

TMC party sources say that Mamata wanted to spruce up her public image and the death of Shiv Sena leader Bal Thackeray came as an opportunity, and the award was instituted. Bal Thackeray began his career as a cartoonist.

The Shiv Sena is facing flak for curbing freedom of expression following the arrest of 2 girls. They have also issued a bundh call following the transfer of the magistrate and suspension of two police officers who   initiated the arrest. The West Bengal government proposal has come as a golden opportunity to the Shiv Sena who readily accepted it.

P.S. I might get arrested for this post. Don't be surprised.