The Asian Development Bank (ADB) on Thursday lowered the growth forecast for India to 6.5 per cent for the current fiscal, from the earlier 7 per cent projection, on the back of subdued demand and high inflation.
PGCIL planned to take a loan of about $2 billion (Rs 8,350 crore) from World Bank and $1 billion (Rs 4,150 crore) from Asian Development Bank, Power Minister Sushilkumar Shinde told Rajya Sabha in a written reply.
Global recovery following the economic downturn is still tentative and fragile, Asian Development Bank's managing director general Rajat Nag said in Ahmedabad on Friday.
ADB would clear the amount by September 2005 and loans would be sanctioned by March 2006.
The Asian Development Bank has approved a $400 million loan to build roads in Madhya Pradesh and Chhattisgarh, the bank said in a statement in Manila on Monday.
China's GDP growth this year is expected to be around 8.5 per cent, down from 9.2 per cent in 2011, as the economy slowed down due to declining exports and global downturn, the Asian Development Bank (ADB) said in its annual report.
India and China account for 64 per cent of GDP in 23 Asian countries included in a study but rank quite low when it comes to benefits percolating to their people.
Optimistic on India sustaining 7 to 8 per cent growth, Asian Development Bank on Wednesday said it might scale up assistance to $3 billion annually and is ready for another Rupee bond issue for funding private sector.
Multilateral lending agency Asian Development Bank has revised upwards India's growth projection to 6 per cent for the current fiscal on account of rising business confidence but warned that inflationary pressure would continue.
The Adani group, buoyed by a sharp recovery in its share prices over the past year, is set to embark on a series of roadshows this week to raise up to $4 billion (approximately Rs 33,254 crore) through equity and refinancing of older debt, according to banking sources. The roadshows, scheduled to take place in major cities, will inform investors about the group's investment plans across renewable energy, petrochemicals, and infrastructure development.
While the needs of Tamil Nadu have been assessed at $ 868.3 mn, those for Andhra Pradesh, Kerala and Pondicherry have been estimated at $ 72.6 mn, $ 157.7 mn and $ 114.4 mn, respectively.
About the problems faced by manufacturing industry in the UK, Lord Paul, who recently scripted history by becoming the first Asian deputy speaker of the House of Lords, expressed hope that the Banking Bill would end the uncertainty surrounding lending terms and conditions.
The rural co-operative credit sector in the country is set to get a boost with $1 billion loan from the Asian Development Bank to the centre.
The country needs 100 million jobs in the formal sector in the next decade to take advantage of its demographic dividend. Also, it should get into the global supply chain to generate many of those by negotiating trade deals effectively, industry players and experts have said. "We need something like 100 million jobs in the next 10 years, which means that the non-agriculture sector has to generate 14 per cent job growth every year," said Aditya Ghosh, co-founder of Akasa Airlines, at the Global Economic Policy Summit organised by the CII.
The Chinese yuan has the potential to be an alternative to the US dollar and help create a multi-currency global reserve system, says an Asian Development Bank report.
The observations are a part of the recently released edition of Asia Bond Monitor, a semiannual publication, which includes a theme chapter on Indian bond market. Lee said that securitization has a long history in India but the development has been slow and limted to a few asset types.
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
India and Pakistan may require more than two pipeline schemes for importing gas from countries like Iran, Turkmenistan
A Dubai government supported company has awarded a sub-contract to India-based Larsen and Toubro for constructing a 108 million Dirham convention centre in Hyderabad.
Asian Development Bank and Reserve Bank on Thursday advocated that India should go in for a free trade agreement with China and five other nations in the Mekong region to sustain high growth.
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The government will privately place two bonds totalling Rs 130 billion with the central bank to fund prepayment of $2.97 billion in foreign currency loans, the Reserve Bank of India said on Monday.
Jammu and Kashmir will receive 'liberal financial support' for modernisation projects from the Asian Development Bank, the government said on Thursday.
The multilateral lending agency holds 3.9 crore (Rs 39 million) shares in Petronet LNG, which at today's trading price of Rs 114.85 is worth Rs 448 crore (Rs 4.48 billion).
Highlighting India Inc's drive for fresh investments, FICCI on Thursday called for the revival of development finance institutions by allowing agencies like IFC and ADB to play strategic roles in DFIs.
Multilateral lending agency Asian Development Bank said on Thursday it is likely to revise upwards by the September-end India's growth and inflation forecast, which is 8.2 per cent and 5 per cent respectively for the current fiscal.
The government will privately place bonds with the Reserve Bank of India to raise funds to repay some of its foreign debt ahead of schedule, a top central banker said on Thursday.
India offers a better chance than China to investors to pump money into non-performing assets restructuring as it has a better environment for recovery, according to consulting firm PricewaterhouseCoopers.
Axis Bank, Tata Steel, Kotak Mahindra Bank, ICICI Bank, Tata Motors, and Bajaj Finance were among the other major laggards. Tata Consultancy Services, Reliance Industries, UltraTech Cement, Infosys, HCL Technologies, and Tech Mahindra were among the gainers.
This will be External Affairs Minister K Natwar Singh's first visit to Pakistan after assuming office.
Asian Development Bank on Thursday pegged India's economic growth at 7.4 per cent for 2004 and said high growth is likely to be sustained in medium term.
The adverse impact of the rupee appreciation has gone beyond exports. The currency's climb is now affecting government infrastructure projects funded by multilateral lending agency such as the Asian Development Bank (ADB).
Nepal's decision to ban the import of non-essential items amid depleting forex reserves may hit Indian exports. The country's central bank - Nepal Rastra Bank - last week instructed commercial banks not to open letters of credit (LCs) for importing non-essential items. This is to prevent further decline of the country's foreign exchange reserves. However, it has not issued any formal communication yet.
Asian Development Bank on Wednesday called India's target of eight per cent annual economic growth "ambitious".
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