Search Result for : Asian Infrastructure Investment Bank

The Dollar Business Bureau President Pranab Mukherjee, on Thursday, stated that India and China are set to play a “significant and constructive” role in the 21st century. Addressing a crowd of Vice Chancellors and heads of higher education institutions of the two countries, at Peking University, in Beijing, the President reiterated that India is one of the brightly placed global economies, and efforts are being made to stimulate the country’s future economic growth at a much better pace. Mukherjee witnessed the signing of 10 MoUs for cooperation between the institutions of India and China, where he made a special emphasis on India’s renewed thrust on research and innovation. He mentioned that significant investments are being made on upgradation of technology. “While R&D expenditure as ...

Source: PTI Some comments from India that China's pain is India's gain has drawn strong reactions from the Chinese media   China's pain of economic slowdown is India’s pain too, RBI Governor Raghuram Rajan said contradicting government assertions that India will not be affected by deceleration of Chinese economy. “The Chinese slowdown is a concern for the whole world. There is a lower demand for some of our exports to China. But indirectly too, many of the countries are not exporting to China as much as they did and they are buying less from us,” Rajan said in an interview with Hong Kong-based South China Morning Post. “But India being a commodity importer, has been helped a bit by cheaper commodities. ...

Source: PTI China's top legislature on Wednesday ratified the Asian Infrastructure Investment Bank (AIIB) agreement, that will set out legal framework for the $100 billion-bank in which India and 56 other countries are founder members. Lawmakers voted on the agreement at the closing meeting of the bimonthly session of the National People's Congress (NPC) Standing Committee, state-run Xinhua news agency reported. The ratification is a significant step closer to the AIIB's formal establishment slated for the end of this year, as China is the bank's largest shareholder. The China-backed multilateral development institution is tasked with financing infrastructure construction across Asia. The Beijing-based bank could rival World Bank, International Monetary Fund and the Asian Development Bank in scaling up funding for the ...

 The Dollar Business Bureau With a stake of 8.52%, India will be the second largest stakeholder in the China-led $100 billion multilateral Asian Infrastructure Investment Bank (AIIB). While China is the largest stakeholder with 30.34%, Russia is the third largest stakeholder with 6.66%. Their voting shares are calculated at 26.06 percent, 7.5 percent and 5.92 percent respectively. Representatives of 57 founding countries, including India, signed an agreement on Monday for the bank operations of which will begin later this year with two pre-conditions – (a) at least 10 prospective members sign the agreement, and (b) the initial subscribed capital is no less than 50 percent of the authorised capital. United States and Japan are staying away from the China-led institution citing ...

 The Dollar Business Bureau India is likely to be the second largest shareholder of the Asian Infrastructure Investment Bank (AIIB), while China’s share stands above that of India’s, in the bank intended for infrastructure development in the Asia region. An information in this regard was said to have been given by the delegates attending a meeting of the AIIB's founding members in Singapore, on Friday. While China’s share is expected to be between 25-30%, India’s share is likely to be around 10-15% in the USD$ 100 billion lender aimed at the infrastructure development in the Asian region, informed the delegates, according to the reports. Of the total 57 countries those have joined as the founding members of the AIIB, the ...