The African Development Bank and Exim Bank on Thursday invited Indian companies to explore business opportunities in the AfDB-funded projects in Africa.
India's exports jumped 45.76 per cent to $33.28 billion in August on account of healthy growth in segments like engineering, petroleum products, gems and jewellery and chemicals, even as the trade deficit widened to a four-month high of $13.81 billion.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
The clean energy sector in India will be one of the first sectors that would benefit during Prime Minister Narendra Modi's US trip. The sector awaits investments worth about $1 billion from US companies.
Brookfield Asset Management will pay around Rs 29,000 per square foot for the 170,000 square feet of space in Jet Airways' two-floor office in Bandra Kurla Complex.
Indian bankers are fearful that going out of their way to save Jet could lead to subsequent harassment from investigative agencies.
Welcoming the latest round of stimulus announced by Finance Minister Nirmala Sitharaman on Thursday, experts said the measures will support the economic recovery boosting demand, job creation and by providing funds to the MSME and stressed sectors. The fiscal impact of the stimulus is likely to be around 0.25-0.6 per cent of GDP in the current fiscal, they said.
Barack Obama is the worst US president as far as outsourcing is concerned, says Jagdish Bhagwati.
The government on Tuesday said it is considering forming a venture capital fund of Rs 2,000 crore (Rs 20 billion) to promote research and development (R&D) in the pharmaceutical sector.
The country's exports dipped 8.74 per cent to $23.52 billion in November on account of contraction in shipments of key sectors like petroleum, engineering, chemicals and gems and jewellery, official data showed on Tuesday. Trade deficit during the month narrowed to $9.87 billion as imports too declined by 13.32 per cent to $33.39 billion.
Indian companies had raised $2.39 billion from foreign markets in May 2015.
Accounted for 18.8 per cent of total imports in the region in 2010 vs Singapore, which contributed 17.8 per cent.
Asked about his fleet of luxury cars and other references to his lavish lifestyle as the counsel for the banks cross-examined him, the Reliance Communications chief dismissed them as "speculative" media stories.
A cross-border takeover thriller that not only saw corporate action but also diplomatic dealings and slugfests among bankers.
The announcement would help preserve 1,000 jobs in Wisconsin and 13 other states.
India has generated an estimated revenue of about $600 million from over five lakh international healthcare travellers including non-resident that visited India in 2006, the study revealed.
Total export from India is expected to register 10 per cent growth during 2010-11, with all sectors including textile showing a revival, top official of Export-Import Bank of India said.
The insurance company has formed a four-member committee headed by LIC chairman TS Vijayan to decide the valuation of LIC Mutual Fund.
"We are already restructuring viable accounts, which are facing temporary cash flow problems," says S Sridhar, Chairman & MD, Central Bank of India.
The Delhi high court on Monday sought the Centre and SBI's reply to former RCom chairman Anil Ambani's plea to include the Chinese banks, which have got a decree of $717 million against him from a court in United Kingdom, in the proceedings related to recovery of Rs 1200 crore loan granted to two of his companies. The high court also said that the moratorium on recoveries from sale of Ambani's assets, as provided under section 96 of the Insolvency and Bankruptcy Code (IBC), would remain in operation for now. This direction came on the application moved by the State Bank of India (SBI) seeking a declaration that the moratorium shall continue to be in effect.
Work on a dozen decisions to start by next week.
Bonds/papers of Tata Motors, Reliance, SBI, ICICI and others turn illiquid in international markets.
Jet Airways, India's largest privately-owned airline, has approached the US Exim Bank and European export credit agencies to reschedule a $2 billion loan (Rs 10,000-crore) loan that was raised to buy 27 Boeing and eight Airbus aircraft.
'If money is spent on good projects, then it is explainable, especially in deflationary circumstances. To boost demand, there is a need to increase spending,' Justin Yifu Lin, chief economist, World Bank.
Reliance Power (R-Power), the Reliance-ADAG group company, which plans to set up 28,000 mw of power plants in India, has secured $1 billion (or around Rs 4,200 crore) funding from three Chinese banks for the Sasan ultra mega power project (UMPP) in Madhya Pradesh.
Paramount Airways, the Coimbatore-based private airline, is in an advanced stages of negotiations with aircraft manufacturers Airbus and Boeing for a $1 billion order of 15 wide-bodied aircraft. The deal is likely to be announced shortly.
Each aircraft will cost about $50 million and the purchase is being funded by the US-based Exim Bank. The airline operates 143 flights a week from Indian cities to 12 destinations in the Far East and West Asian countries. In its fourth year of operation, the international budget carrier now has 11 fully owned aircraft, while seven are on lease, which will expire in 2010.
Africa is second only to West Asia as a net exporter of oil.
State Bank of India plans to open its office in Dubai International Finance Centre in a few weeks, a move which will boost India's largest bank's presence in the Gulf region.
The success of Regional Trade Agreements, which can enhance international trade and deepen economic relations with neighbouring countries, depend critically on design and implementation, a top official of Exim Bank said in Chennai.
China had financed the acquisition of embattled Yukos' core asset Yuganskneftegaz by Russia's state-owned 'Rosneft' oil last month in return of oil supplies till 2010, a senior Russian official said.
He, however, seemed to indicate that he did give a personal guarantee to India's largest lender SBI, which has moved the NCLT to recover Rs 1,200 crore.
Transcript of the banking chat with Y B Desai, former chairman and managing director, Exim Bank, Mumbai.
Low cost airline Spicejet is planning to add 23 new aircraft to its fleet by 2008. Following this, it will operate more than 250 flights to around 24 destinations, offering over 35,000 seats per day.
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