Search Result for : Exim

The Dollar Business Bureau  Embedded in the Iran Nuclear Deal of 2015 were terms related to assured support from the developed world for Iran to acquire a fleet of new aircraft from majors like Boeing and Airbus.  Reportedly, the country has acquired merely 3 jets from Airbus in return for cash payments so far, while it aims to purchase as many as 180. While Iranian officials try to accelerate talks with British export credit agency to gain an approval, they have multiple roadblocks to address.  Theresa May’s snap decision to hold general elections in the month of June discourages Britain’s export credit arm to take defining decisions affecting foreign policy during such a critical time. The government is also likely to postpone dealing ...

The Dollar Business Bureau JSW Steel on Thursday said the company is planning to spend up to $1 billion (about Rs.6,500 crore) a year on its capacity expansion and acquisitions.  Sajjan Jindal-led company is also looking to bid for two iron ore mines in Odisha and coking coal mines in Jharkhand in the upcoming auctions, JSW Steel Joint MD and Group CFO Seshagiri Rao said: “We are capable of spending up to $1 billion per annum without increasing debt on capacity expansion and acquisitions.”   Rao confirmed that the company is working at its expansion plans, by bidding aggressively for iron ore mines and coal mine auctions later this year. Replying to a query on whether JSW Steel would bid for all the five coking ...

The Dollar Business Bureau Aditya Birla Group on Tuesday announced it has received the banking license from the Reserve Bank of India (RBI) to operate its joint venture Aditya Birla Idea Payments Bank Ltd. Kumar Mangalam Birla-led outfit Aditya Birla Nuvo had earlier set up a joint venture with the other telecom major Idea Cellular to start payments bank services in the country. Aditya Birla Nuvo and Idea Cellular will hold 51:49 shares in the joint venture payment bank. "... the Reserve Bank of India... has granted a licence to Aditya Birla Idea Payments Bank Ltd to carry on the business of payments bank in India," Aditya Birla Nuvo said in a statement. Earlier last year, Airtel and India Post had formed a joint ...

The Dollar Business Bureau David Rasquinha, MD, Export Import Bank of India, revealed that the premier export-promoting body aims to raise $2.5 billion – $3 billion from overseas markets in the current fiscal year. In 2016-17, EXIM had successfully raised an amount of over $2 million from foreign markets. Even if the deployment of these funds doesn't take place right away, it helps secure liquidity and enhances long term investment opportunities up to 20 years, the MD said. EXIM promotes Indian investment in Africa in the sectors of power, roads, railways, renewable energy, and agriculture. Of all its annual funding, about 50% goes towards countries in Africa. The export promotion agency supports long-term projects predominantly in SAARC, Africa, and the far east region. It sees potential for financial lending in the neighbouring countries of ...

By Abin Daya This is the time of the year we close our books, reflect on what has happened over the past 12 months, and make plans for the next year. Same is the case with the government. This week, we bring you a snapshot of public finances, especially the twin deficits, as of Feb 2017, and how we expect the year to end. While both deficit figures have breached the budgeted numbers as of Feb, there is a chance that strong revenue growth in March could help pull them back to below the threshold. Will need to wait for formal data to come from Ministry of Finance to see if that happens. Continuing with an update on last week’s story about Methyl ...

The Dollar Business Bureau  The biggest container shipping company in the world, Maersk Line, said on Wednesday that the growth of EXIM container trade of India in the current year is likely to be in two digits. “In 2017, the growth is likely to be in two digits provided that India maintains its growth in markets like the Middle East, Latin America and East Africa, enhancing its client portfolio and diversifying the risks,” the company stated in its 2016 Annual India Trade Report. As per the Global Economic Prospects report by World Bank, growth of global trade in 2016 was the slowest since the world financial crisis in 2009. “India, in spite of that, has done well and consolidated its place with the international containerised trade. ...

The Dollar Business Bureau  L&T Hydrocarbon, fully owned subsidiary of Indian multinational Larsen & Toubro Ltd (L&T) has won orders worth Rs.4,000 crore in the foreign market. The construction arm of L&T has recently won Rs.1,725 crore worth of orders across two business divisions. “L&T Hydrocarbon Engineering Ltd, a wholly-owned subsidiary of Larsen & Toubro, has won orders totalling close to Rs.4,000 crore in the international market,” L&T said in a filing with BSE.    In transportation infrastructure division, the company had won Rs.725 crore worth of contracts. “A procurement, engineering, and construction contract has been bagged from the Ministry of Road Transport & Highways for 4-laning of the section Wadpale to Bhogaon Khurd of National Highway 17 in the state of Maharashtra,” the ...

Aamir H Kaki Minister of State for External Affairs, M J Akbar said on Friday that under the leadership of Prime Minister Narendra Modi, India had made a commitment of providing $10 billion worth lines of credit (LoC) to Africa between 2015 and 2020. “Out of this, projects worth $1.1 billion have already been cleared this year. India would like to implement these projects as soon as possible,” he added. He was speaking at the 12th CII-EXIM Bank Conclave on India–Africa Project Partnership – two day event held in New Delhi on March 9-10. Akbar stated that open economies are moving towards protectionism while emerging economies have now become the torchbearers of free trade. Africa and India can come together for knowledge sharing and ...