Asian Lite News Archive

Category: Investment

  • India business reforms impress World Bank

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    A new World Bank Group report finds that has India set the pace for regulatory reform in South Asia since 2005 with 20 measures – the largest in the region. India was followed by Sri Lanka with 16 reforms while three countries – Bangladesh, Nepal, and Pakistan – focused their efforts on adopting modern electronic…

  • Indian oil sector looks for Saudi investment

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     India has invited Saudi Arabian oil companies, including Aramco, to invest in crude oil storage facilities and downstream industries in the country, the petroleum ministry said here . Petroleum Minister Dharmendra Pradhan invited Saudi investments in India’s hydrocarbons sector during his ongoing official visit to the kingdom. He held talks with Saudi minister of petroleum…

  • SoftBank invest millions in Snapdeal

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    In another mega-deal in India’s e-commerce space, Snapdeal will raise $627 million from Japan’s SoftBank, a major investor in the global internet space. This will make SoftBank the largest investor in Snapdeal, a company statement said. The e-commerce major also announced that it will look at three-four acquisitions in the coming few months in mobile…

  • Oil prices may put Modi on reform mode

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    By Saroj Mohanty  One single international development that has not received the kind of play it deserves in the Indian media but is keenly watched in policy-making and strategic circles is the falling prices of oil – despite the geopolitical uncertainties in the Middle East and Nigeria – whose impact could be felt in government…

  • India to develop Iranian port

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      The union cabinet Saturday gave its approval to India’s plan to ugrade the Chahbahar port in Iran, a move which will pave the way for improving India’s trade with Afghanistan and other central Asian countries. The upgradation would be effected through the framework inter-governmental Memorandum of Understanding (MoU) that is to be finalised by…

  • India to invest big in Africa

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     India aims to boost investment in industrial, economic and social sectors of Africa as the 54-nation continent tries to ramp up development to alleviate poverty, the UN General Assembly was told . “Scaled-up investments in infrastructure, both economic and social, as well as in productive capacity for industrial development are needed,” Amit Narang, a Counsellor…

  • Canada to help India build smart cities

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    Canada will help India in building smart cities and achieving its target of housing for all by offering wooden multi-storey housing technology, officials said here Wednesday. In a meeting with Housing and Urban Poverty Alleviation (HUPA) Minister M. Venkaiah Naidu here, Canadian Minister of International Trade Ed Fast said his country’s “expertise in wood-based housing…

  • Tata to sell its British steel plants

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      Indian steel giant Tata Steel is planning to sell its Long Products division in Europe to Geneva-based Klesch Group, a company statement said here Wednesday. “Tata Steel has today announced the signing of a Memorandum of Understanding with Klesch Group to undertake detailed due diligence and negotiations for the potential sale of its Long Products…

  • Will Modi reform defence or bite the bullet?

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    By C. Uday Bhaskar  Former Indian Navy chief, Admiral D.K. Joshi, who had resigned in February this year after a number of accidents on naval platforms, has dwelt on the background to his unprecedented decision in an extended media interview and in the process shed much needed light on the deeply embedded institutional flaws that…

  • Lottery fund to build Indo-British art connections

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    Arts Council England and British Council announced a new £1.5 million lottery fund to build creative connections between the people of England and India. The fund is part of the programme “Re-Imagine India” that aims to provide English artists and arts organisations with opportunities to develop collaborations and cultural exchanges with their Indian counterparts. “The…

  • IndiGo places single largest Airbus order

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    Private airline IndiGo announced signing a deal for 250 Airbus A-320neo aircraft – making it Airbus’ single largest order by number of aircraft. The Memorandum of Understanding for Airbus’ leading single aisle aircraft family was signed by its co-founders Rakesh Gangwal and Rahul Bhatia, group managing director of InterGlobe. IndiGo President Aditya Ghosh said that…

  • Sikka reboots Infosys

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    By Fakir Balaji   Global software major Infosys Ltd. aspires to be the “bellwether of the Indian IT industry once again”, said its first non-founder chief executive Vishal Sikka. “We aspire to be the bellwether of the Indian IT industry once again in the next 18 months,” Sikka said in an interview here. It’s been just over…

  • US to fund strategic tech projects in India

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    With the India-US Defence Trade and Technology Initiative regaining momentum after the Indian elections, the US has set aside $20 million for strategic cooperative science and technology projects with India, according to a top US official. During the Indian elections there was a time-out on the initiative, but now progress has resumed, US Undersecretary for…

  • Vodafone wins tax case in India

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    Britain-based global telecom major Vodafone got a major verdict in its favour, with the Bombay High Court ruling  that it need not pay the tax claim of Rs.3,200 crore ($530 million) slapped on it for buying shares in its Indian arm. The case pertains to Vodafone’s outsourcing arm in Pune issuing shares to its parent.…

  • Corporate America vows to boost trade with India

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      The US-India Business Council (USIBC) has reaffirmed its faith and hope in the future of the US-India trade relationship with its members committed to making $41 billion investment in India. “There’s never been a better nor a more vital time for the US and India to work togetherthan right now. Let us seize a…

  • Modi asks states to grab $100 bn investment

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      Prime Minister Narendra Modi  asked the states to grab the $100 billion worth of investments that have resulted from his summit-level interactions with Japan, China and the US. “(A total of) $100 billion investments from Japan, China and America have applied for visa. Now it is the turn of the states to capitalise on…

  • Yahoo! fires 600 techies in India

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     Internet giant and search engine Yahoo! is giving ‘pink slips’ to about 600 techies here to trim its workforce in India and consolidate its core engineering activity in the US. Though Yahoo! India R&D centre here declined to confirm, a source in the know of the development said that about 200 lateral/senior employees have, however, been…

  • India set to grow@6.5%: IMF

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    With India’s growth increasing on rising business confidence and stronger manufacturing activity since the April-May general election, it’s expected to grow faster in the rest of 2014 and 2015, according to the International Monetary Fund (IMF). India is “projected to grow at 5.6 percent in 2014 and pick up further to 6.4 percent in 2015…

  • Christie’s Indian auction in December

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    After a successful Indian debut last year, international auction house Christie’s will bring works of modern Indian masters like Jehangir Sabavala and Tyeb Mehta for its second auction here Dec 11, the organisers said Tuesday. The sale will comprise 80 lots from the best of modern and contemporary art that will include Sabavala’s 1974 masterpiece…

  • India to invest $250 bn in infrastructure

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    India needs $250 billion in next 20 years for basic urban infrastructure and this offers huge investment opportunities to international investors, said country’s Urban Development Minister M. Venkaiah Naidu. He said the government is committed to promote private domestic and foreign investment in a big way. The minister told XI Metropolis World Congress that began…

  • India Inc upbeat

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    The confidence level of corporate India is improving in line with a slight turnaround in the economy, industry surveys showed Monday. And companies expect overall economic situation to become better in the near term, they said. The Business Confidence Index in the Federation of Indian Chambers of Commerce and Industry (FICCI) survey stood at 72.7,…

  • Zuckerberg follow Nadella to India

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      Facebook co-founder Mark Zuckerberg will be visiting India next week to attend a summit. Zuckerberg will also meet Prime Minister Narendra Modi, according to sources. His visit comes three months (July, 2014) after the visit of Sheryl Sandberg, chief operating officer of the social networking giant, to the country, which is the second biggest…

  • Modi inspires investor confidence

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      Prime Minister Narendra Modi’s “extremely successful” US visit, especially his meeting with top business leaders there, has seen a US-India business body committing to $42 billion investment in India with many lauding the “Gujarat model” of development. In a survey following Modi’s five-day visit, the US-India Business Council (USIBC), in a survey, found that…

  • Modi hard sells India to CEO’s

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      Hard selling India with assurances of a business-friendly environment and a stable and simpler tax regime, Prime Minister Narendra Modi invited top US business to come and invest in India. Addressing the US-India Business Council comprising 300 top US companies doing business with India here Tuesday, he promised to replace bureaucratic red tape with…

  • India’s software technology exports increase

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    By Sujit Chakraborty  India’s exports from the Software Technology Parks (STP) across India are rising at a pace of 8 to 10 percent annually and would further increase in the upcoming years as the industry spreads across the country, a senior sector official said. “There are huge software technology markets across the world and India’s…

  • By Modi, about Modi ‘Make in India’

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    By Prashant Sood  The launch of “Make in India” campaign here was as much about the new initiative as about the man behind it. Prime Minister Narendra Modi was the star of the occasion as a galaxy of industry leaders showered praise on him for his vision as Modi connected and bonded with the large…

  • Business on top in Modi’s US agenda

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    Prime Minister Narendra Modi leaves Thursday on a five-day much anticipated visit to the US, during which he will address the UN General Assembly and also hold a summit meeting with US President Barack Obama which would see trade and investment high on the agenda. The visit to the US caps a month of fast…

  • Modi launches ‘Make in India’ campaign

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      Prime Minister Narendra Modi  launched his pet “Make in India” campaign to put India prominently on the global manufacturing map and, in turn, facilitate the inflow of new technology and capital, while creating millions of jobs. The ambitious scheme, that also puts in place the logistics and systems to address in a timely manner queries…

  • Vodafone CEO positive about India

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    British telecom major Vodafone Group Chief Executive Officer Vittorio Colao  said the mood of the international investors about the new Bharatiya Janata Party-led government in India is positive but “quick decisions” will provide the necessary impetus to the companies. “Some of the steps taken by the government are good and investors like it. The mood…

  • Modi dreams business on US visit

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    Trade and investment, including focus on renewable energy, railways and the government’s “smart cities” project, would be high on the agenda of Prime Minister Narendra Modi during his visit to the US that is expected to see him engaged in intensive talks with President Barack Obama in an effort to give a fillip to the…

  • US looks for investments from India

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    To address the imbalance of US investments in India being two-and-half times more in worth than the reverse flow, the US Department of Commerce Thursday announced it was making special efforts to encourage Indian businesses “set up shop in the US”. The announcement was made here by Ambassador Vinai Thummalapally, executive director of SelectUSA, an…

  • Red carpet awaits Xi

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    Chinese President Xi Jinping arrives here Wednesday afternoon on the first leg of his three-day India visit during which trade and investment are expected to top the agenda of talks with Prime Minister Narendra Modi besides other bilateral and regional issues. Xi is arriving in Ahmedabad, the commercial capital of Gujarat state, at the head…

  • Modi sees upswing in ties

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    Ahead of Chinese President Xi Jinping’s visit, Prime Minister Narendra Modi Tuesday described the India-China ties as moving ahead from “Inch (India and China) towards Miles (Millennium of Exceptional Synergy)”. In a conversation with Chinese journalists based in New Delhi, Modi said: “India and China are bound by history, connected by culture, and inspired by…

  • Indian Railways to get Chinese help

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    Modernisation of many Indian railway stations, upgrading signalling system at level crossings, and introduction of high-speed trains are likely to be among the economic cooperation agreements inked during Chinese President Xi Jinping’s India visit next week. It will be mostly business during President Xi’s three-day India visit beginning Sep 17. While Japan is working on…

  • Advantage India in summit season

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    Evan A. Feigenbaum is Vice Chairman of the Paulson Institute at the University of Chicago and Nonresident Senior Associate in the Asia Program at the Carnegie Endowment for International Peace. He is a former US Deputy Assistant Secretary of State for South Asia and Central Asia. In Asia, it’s summit season again – the time of…

  • NRI healthcare solutions awaits India

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    Indian American physicians plan to hold a Global Healthcare Summit in Mumbai from Jan 2-4 to discuss ways to bring the most innovative, efficient and cost effective healthcare solutions for India. Organised by te Association of American Physicians of Indian Origin (AAPI), one of the largest ethnic professional organisations with over 100,000 members, in collaboration…

  • SPECIAL REPORT: Gold prices

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    Aparajita Gupta says Gold likely to regain sheen in second half of 2014′ Despite the possibility of deficient monsoon casting a shadow on the rural demand, riding on overall better sentiments gold is expected to recover its sheen in the second half (July-December) of the year, Somasundaram P.R., managing director (India), World Gold Council said.…

  • $18 bn World Bank aid for India

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    The World Bank Wednesday said it will provide financial support of $15-18 billion to India over the next three years to help accelerate economic growth and reduce poverty. Talking to media persons after meeting Prime Minister Narendra Modi here, World Bank group president Jim Yong Kim said the Indian government has outlined a comprehensive plan…

  • India Biz targets Latin America

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    Saroj Mohanty says India, Latin America set to tango An India-Latin America Forum to forge a new paradigm of cooperation leading to a “strategic partnership” could be in the offing in the near future. India and the Community of Latin American and Caribbean States (CELAC) are exploring possibilities of a “dialogue mechanism”, based on the recent…

  • Energy security top priority: Modi

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    Prime Minister Narendra Modi Monday reiterated that energy security, increasingly based on clean and reliable sources, was the critical driver of India’s rapid and sustained long-term development. On a visit to the Bhabha Atomic Research Centre (BARC) here during his maiden trip to Maharashtra after taking over as prime minister, Modi envisaged an essential role…

  • India Inc’s thumbs up for railway budget

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    Welcoming the thrust on resource mobilisation in this year’s rail budget, India Inc Tuesday welcomed the new government’s maiden exercise as practical and execution-oriented. “The Minister has presented a practical and execution-oriented Budget, laying emphasis on implementation of on-going projects and focusing on monitoring them for an early closure”, Sumit Mazumder, president designate Confederation of…

  • UK seeks better ties with India

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    The whole world watched India undertake the largest election in the history of mankind, and we have not stopped watching. Prime Minister Narendra Modi’s historic victory and his bold plans for India’s future have grabbed the world’s attention. The Indian people have given their government a mandate for change and for reform that could be…

  • UK joins Islamic banking with Sukuk

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    UK become the first country outside the Islamic world to issue sovereign Sukuk The British government has cemented Britain’s position as the western hub for Islamic finance by becoming the first country outside the Islamic world to issue sovereign Sukuk, the Islamic equivalent of a bond. The government confirmed that £200 million of Sukuk, maturing…

  • US stocks to regain value

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    Vatsal Srivastava in his column Currency Corner says US stocks look set for short-term technical correction Last week saw immensely important announcements and data flow for the currency market. On Thursday, the ECB decided to cut interest rates to record low levels and hinted towards unleashing Quantitative Easing (QE) if inflation expectations do not remain…

  • Modi to focus on skill and speed

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    India needs to focus on skill, scale and speed to compete with China, Prime Minister Narendra Modi said on Sunday, drawing a link between the colours in the national flag to the revolutions the country needed for its future growth. Releasing a book, “Getting India Back on track – an action agenda for reform”, at…

  • UAE Exchange To Buy Travelex

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    Dubai-based UAE Exchanges to buy Travelex for an undisclosed sum. But industry pundits said it will be around one billion pounds.   Apax is to sell its majority stake in foreign exchange operator Travelex to Dr B R Shetty, the owner of UAE Exchange; and Abu Dhabi firm Centurion Investments, newspapers reported. Apax had previously been…

  • Economic revival top on agenda

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    Gyanendra Kumar Keshri writes on the priorities of the Modi government   With growth at its lowest in over a decade and inflation, job creation and investments remaining major challenges, India’s new government under Narendra Modi has its task cut out to reverse months of perceived policy inaction and revive the stagnant economy. Opinion-makers and stakeholders…