Search Result for : Africa

The Dollar Business Bureau Indian Pharma exports to the US may increase in 2017-18 despite pricing pressure and stiff competition. A report released by Care Ratings said that $50 billion worth of drugs are expected to become 'off-patent' in the current year giving hope to the Indian Pharma export market. "The pharma export volumes from India to US, however, are expected to rise. This will be backed by about $55 billion expected sales gain to generics drugs on account of branded drugs going off patent during 2017-19 which will create an opportunity for CRAMS segment. We expect growth rate for CRAMS (Contract Research and Manufacturing Services) to be higher compared to average growth rate of the industry. These factors are likely to support pharma exports from India," ...

The Dollar Business Bureau India on Tuesday signed a pact with Sri Lanka for a $318 million line of credit for developing the railway sector of island nation, according to officials. RHS Samaratunga, Secretary in the Ministry of Finance and Mass Media of Sri Lanka, and David Rasquinha, Managing Director of Export Import Bank of India in Colombo signed the agreement. Prime Minister Narendra Modi, during his first visit to the island nation in 2015, had announced a $318 million line of credit for development of railway sector of the country. The visit was the first standalone bilateral visit since 1987 by an Indian prime minister and had come in the wake of rising presence of China in the Indian Ocean country. China has been ...

Sheela Mamidenna Earlier in 2017, the Prime Minister Narendra Modi while addressing a geopolitical conference said, “Our economic and political rise represents a regional and global opportunity of great significance. It is a force for peace, for stability and an engine for regional and global prosperity. For my government, this has meant a path of international engagement focussed on building development partnerships that extend from the islands of the Indian Ocean and Pacific to the islands of the Caribbean and from the great continent of Africa to the Americas. Creating Indian narratives on global challenges.”  Well, for that matter, trade agreements play an important role in leveraging a country’s economic growth. Concurring to it, our globetrotting Prime Minister has made more than ...

The Dollar Business Bureau China’s 2 day unveiling of the One Belt One Road initiative, saw 29 heads of state coming together to partake in the $900 bn investment initiative aimed at developing land and sea trade routes from China to Europe; there were two conspicuous absent nations from the meet, Japan and India. India in its statement reply to China’s invitation to the initiative said, “We are of firm belief that connectivity initiatives must be based on universally recognized international norms, good governance, rule of law, openness, transparency and equality... Connectivity projects must be pursued in a manner that respects sovereignty and territorial integrity. India’s reluctance is plain and open. The CPEC route threatens to violate India’s sovereignty as the project passes ...

The Dollar Business Bureau The African-Export-Import bank (Afreximbank), currently rated Baa1 by Moody's has called out for proposals for a US-dollar-denominated bond issue. A US denominated bond that trades outside the US, is issued to attract investors at the same time also hedge currency risks. The call by the EXIM bank trails the previous week announcement of a $700 mn loan backed by 14 lenders, involving majorly financial institutions such as Emirates NBD, Abu Dhabi Commercial Bank and Barclays Bank. The bank in the previous year had also tapped the international bond market with a total of $900 mn bond in two tranches. The first was a $750 mn bond for a five year term in May, and the second was a ...

Traditionally, businesses in Africa have behaved like ‘caterpillars’ – humdrum, slow-moving and easy to step on. Conditions are still somewhat similar, but change is creeping in fast. Although the place is still financially challenged, it’s no doubt one of the hottest markets today. While exports from Africa are growing at 6.1% (faster than any other region in the world), imports are expanding even faster – twice as fast as exports – averaging 13.8% per year. Perhaps Africa is eating more than it can cook – but isn’t that a wonderful piece of news for every dollar investor? Every single country of this 54-nation bloc provides a array of opportunities to both exporters and importers. A case in point is Ethiopia. This ...

The Dollar Business Bureau Bharti Airtel Ltd. on Thursday announced a divestment of approximately 950 telecom towers to Helios Towers Africa (HTA), a leading telecom tower company in Africa, in the Democratic Republic of Congo (DRC). The agreement will expand HTA’s tower coverage to over 6,500 owned towers in the African continent. The Indian telecom giant will have full access to HTA’s towers under a long term lease contract, which also includes towers currently under construction. With this deal, Airtel will strengthen its core focus on business and customers, which will help it leverage through debt reduction. The agreement will considerably lessen the company’s ongoing capital expenditure on passive infrastructure while reducing the proliferation of towers through increased sharing. “HTA is proud to be chosen ...

The Dollar Business Bureau   As part of its expansion plans, Krishnapatnam Port is coming up with more number of container terminals. The port has recently launched the weekly service of a container, M V Maersk Bentonville that directly plies between Krishnapatnam and Salalah (Oman). The container will be servicing the importers and exporters of Telengana, AP, Karnataka and Northern Tamil Nadu to the ports of Africa, Europe, Mediterranean and the US East Coast. The Salalah – Krishnapatnam Port service will greatly minimise the cost and transit time in the ports that come during the course of its journey. This will be advantageous to the Krishnapatnam Port Container Terminal (KPCT) customers. The Salalah – Krishnapatnam Port service will also get a boost from ...