Search Result for : Global Growth

The Dollar Business Bureau The Export Import Bank of India (EXIM Bank), the premier export finance institution in the country, has raised $10 billion via issuance of 10-year dollar bonds on London Stock Exchange (LSE). The bonds were oversubscribed by almost two times. The EXIM Bank will use the proceeds from bonds for supporting Indian project exports, foreign investments through long-term credit and its portfolio of lines of credit. “The notes achieved the tightest ever spread over US Treasury for an Indian entity for a 10-year issuance,” said LSE in a statement. The 10-year bond has an annual yield of 3.897% and protected high investor support from all over the world, it said. EXIM Bank Managing Director David Rasquinha said that the Bank is a ...

The Dollar Business Bureau India plans to double its natural gas pipeline network to around 30,000 km in the coming 3-4 years as part of the strategy to move to a gas-based economy in order to reduce greenhouse emissions and the dependence on imports for oil, said Petroleum and Natural Gas Minister Dharmendra Pradhan. Also, the country plans to bring in more reforms in the sector and will create a gas trading hub to support better prices for both domestic and imported fuel, said Pradhan. “We are completing a 30,000 km national gas grid in coming years. We can proudly claim that we have not only brought in policy reforms, but also implemented them,” he said while speaking at a session at the ...

The Dollar Business Bureau A Chinese surge in credit growth has found mention as a concern in the IMF's Global Financial Stability Report. Although China is a major contributor to global growth, its credit growth vis-a-vis its economy has more than doubled to 200% in less than ten years. IMF's Financial Counsellor and Director for Monetary and Capital Markets department, Tobias Adrian averred that such credit growths were dangerous. He was quoted in a press briefing as saying that Chinese policies that limit the growth of banking systems could reduce credit growth and thereby global financial vulnerabilities too. But, there was still more that was needed to be done to achieve a global financial stability. Matthew Jones, Assistant Director at the IMF added ...

The Dollar Business Bureau Finance Minister Arun Jaitley said on Saturday that India’s economy is likely to grow at 7.7% in 2018. The emerging economies face new challenges like inward looking strategies of protectionism and enhanced geopolitical tension. Global growth is going upwards and is likely to increase further in the financial year 2017-18, Jaitley said while speaking at the 2nd yearly meeting of New Development Bank (NDB) in New Delhi.  “The Indian economy is expected to grow at 7.2% in 2017 and at the rate of 7.7% in 2018,” he said.  The Finance Minister said, “Emerging market economies face newer challenges in the form of inward looking policies of protectionism of some economies, global financial condition, ...

The Dollar Business Bureau French automobile manufacturer Renault plans to introduce at least one new vehicle every year in the Indian market till 2021, comprising vehicles in the high selling sub-four metre division, even as the company aims to cross 5% market share in the local passenger vehicle segment by the year-end. “We plan to launch at least one new product every year, over the next five years, beginning with some exciting product innovations starting this year,” Sumit Sawhney, Managing Director Operations Country CEO of Renault India told PTI. The French auto major will keep launching ‘game changing products’ in India as it has been doing over the last few years, he said. Currently, Renault sells five models in the domestic market including hatchback Kwid and SUV Duster.  “India ...

The Dollar Business Bureau In order to deal with the uncertainty due to Brexit, India has emphasised on the need for a careful mix of monetary, fiscal and structural policies by key economies. "Governments, Central Banks and regulators have to mitigate the pressure of such vulnerabilities through judicious mix of fiscal, monetary and structural policies," Arun Jaitley, Minister of Finance said in his address at the meeting of the Board of Governors of the New Development Bank (NDB). In his address, which is read out by Raj Kumar, Joint Secretary, Ministry of Finance, Jaitley stated that the UK’s decision to leave the EU, commonly known as the Brexit, has further augmented uncertainty, volatility in the market and disinclined behaviour towards ...

The Dollar Business Bureau | India’s exports are likely to remain weak due to subdued global growth, research firm CRISIL said in a report on the Indian economy – ‘Choosing trend over cycle’ released on Monday. The country’s exports as well as imports have fallen down which made the trade deficit remain mute so far, and CRISIL believes this could prove transient. When there is structural weakness in the trade, imports would increase as domestic demand and investments upsurge, and commodity prices would stabilise. India’s target to double the exports of goods and services to $900 billion by FY 2020 from $470 billion in FY 2015 might prove a tad too ambitious if the current cyclical slowdown lasts and structural issues are not addressed, ...

The Dollar Business Bureau Underscoring that the world economy is expanding at an increasingly slow pace, thereby leaving the economic growth open to negative risks, International Monetary Fund (IMF) called on the countries to undertake growth-friendly fiscal policy stance and make contingency plans to materialise downside risks. The IMF said the global economic growth has been too slow for too long; and although the current economic outlook looks less bright, there is a possibility of a better growth in the coming years, provided the countries strengthen their baseline outcome by taking growth-oriented initiatives. The global lender in its press release said structural reforms in a good sequence complimented with an equally good fiscal support can only bring about a positive global output. “Finally, further ...