Search Result for : Financial Services

The Dollar Business Bureau Indian conglomerate Adventz Group said on Tuesday that it has signed a $2 billion-plus MoU with the Israeli construction and development company Lesico Group to collaborate in the light rail transit (LRT) projects in Jerusalem and Tel Aviv. The announcement came in the backdrop of a top-level Indian political and business delegation led by Prime Minister Narendra Modi visiting the Jewish nation currently. The historic visit – first time for any Indian Prime Minister – is being seen as a watermark in deepening economic and trade relationships between New Delhi and Tel Aviv. “The memorandum of understanding (MoU) between Lesico with Adventz Group will be a first for an Indian conglomerate with group company Texmaco Rail & Engineering Limited, which ...

By Sheela Mamidenna The youngest of the German cars in India, BMW, is fighting back to reclaim its leadership position in India. With its new Indian President and the company’s ‘power to lead’ strategy, BMW India recently launched the newest version of its luxury sedan, the 5 series, on June 29. Locally produced at the BMW Plant Chennai, the all-new BMW 5 Series will be available in diesel and petrol variants at all BMW dealerships across India from 1 July 2017 onwards. With the official implementation of GST on July 1, BMW is hopeful that it will make a strong comeback in India in a segment that accounts for less than 2% in the passenger vehicle market. With BMW, MINI and Motorrad, the BMW ...

The Dollar Business Bureau  India’s economic growth declined to 6.1% in the last quarter of January-March 2016-17, a four-quarter low, mainly due to adverse impact of demonetisation on economic activity. The GDP growth was 8% the same quarter a year ago.  After taking out indirect taxes, the figures seem to be grimmer. Gross value added (GVA), grew by just 5.6% in the fourth quarter — the lowest in nearly eight quarters, as per the official data released on Wednesday.  GVA is the difference between GDP (gross domestic product) and net indirect taxes.  The impact of note ban was evident in the data, with the growth being mainly supported by government spending and agriculture. In the given quarter, except government spending and agriculture, GVA grew only 3.8%, down from 8.4% in first ...

The Dollar Business Bureau  India's GDP growth is likely to slip to 6.7% in the January-March quarter from 7%, but could gradually recover to 7.7% in 2018, predicted the Japanese financial services major Nomura.  The gradual recovery to 7.7% could happen due to higher consumption- as a result of state pay hikes, lower lending rates and remonetisation and public spending, the report stated. "In our view, the recovery in industrial production should gather momentum through 2017 supported by ongoing remonetisation, release of pent-up consumption demand, lower lending rates, higher public capex and impending pay hikes for state government employees."  Making a mention of the after-effects of demonetisation, Nomura said that the soft industrial activity that was seen in February was due to the ...

Sheela Mamidenna Gujarat International Finance Tec-City (GIFT City) as part of its next phase development has announced the launch of office buildings in the SEZ & non-SEZ area. It has invited proposals from international and national developers to participate in developing office buildings in the SEZ as well as the non-SEZ areas. GIFT City has so far received good response from the leading realty developers as well as leading BFSI and IT players. It has already made allotments of over 15 million square feet of built-up area (BUA) for the development of offices, residential apartments and other facilities to be developed at an estimated investment of more than Rs 10,000 crore. India’s first International Financial Services Centre (IFSC) at GIFT City is already ...

Being a global financial services hub, Hong Kong places itself in a unique position to help finance Indias infrastructure requirements. The Dollar Business Bureau C Y Leung, Chief Executive Officer, Hong Kong Special Administrative Region, said that Indian and Hong Kong companies can cooperate in the areas of information technology and innovation.   Hong Kong Special Administrative Region has expressed willingness to extend its support to enhance Indias infrastructure capacity. C Y Leung, Chief Executive Officer, Hong Kong Special Administrative Region, who was on a visit to India said that being a global financial services hub, Hong Kong places itself in a unique position to help finance Indias infrastructure requirements. He was speaking at a session on India Hong Kong SAR: Translating Ties into ...

The Dollar Business Bureau Government on Friday cleared 14 Foreign Direct Investment (FDI) proposals related to Teleservices, Financial Service Holdings, Technology, Insurance and Healthcare companies. The Foreign Investment Promotion Board (FIPB), chaired by Economic Affairs Secretary Shaktikanta Das, considered a total number of 23 FDI proposals in its meeting, cleared 14 of them, rejected four and deferred its decision on five proposals. The companies whose proposals got cleared include Eros International Media, Indian Rotorcraft, AGS Transact Technologies and O-Zone Networks, according to sources. Whereas, proposals of Reliance Globalcom, Firefly Networks, Apollo Hospitals and Aegon Religare Life Insurance were said to have got deferred. FIPB, in its next meeting on September 22, 2015, is likely to take up a total number of ...

The Dollar Business Bureau India's manufacturing sector received Foreign Direct Investment (FDI) worth $9.61billion during the last financial year, registering an increase of more than 50% from previous year’s total inflow of $6.38 billion. According to the annual report released by the Reserve Bank of India (RBI), the country attracted whopping $24.74 billion FDI in the last fiscal, up 54% from previous year’s $16.05 billion and the highest since 2010. And the manufacturing sector accounted for more than one-third of the total overseas investment. Experts attribute this sharp rise in foreign investments to the “Make in India” initiative launched by the government and several other measures to ease the business process. “FDI mainly flowed into the manufacturing sector responding to the ...