AccorHotels plans to open 14 new Novotels in India
The Dollar Business Bureau AccorHotels is planning to expand its presence in India with a pipeline of 14 new Novotel properties in the near future. The French hotel group announced this during the tenth anniversary of Novotel in India. Currently, Novotel has 13 hotels in the main cities in the country. AccorHotels and Cyberabad Convention Centre Pvt Ltd have renewed their partnership agreement for the management of Novotel Hyderabad Convention Centre and the Hyderabad International Convention Centre (HICC). Both the facilities operate in a distinctive style meeting the requirements of every guest all the time. Cyberabad Convention Centre is a joint venture between the Telangana State Industrial Infrastructure Corporation (TSIIC) and Emaar Properties PJSC, Dubai. The 15-acre state-of-the-art convention facility in Hyderabad has 287 rooms ...
Infrastructure output grows at 2.6% in August
The Dollar Business Bureau India's infrastructure sector output grew by 2.6% in August 2015 despite a sharp decline in steel production, according to the data released by the Ministry of Commerce & Industry. The infrastructure sector constitutes nearly 38% of India's total industrial output. Of the eight core sectors, fertilizer production witnessed the maximum increase of 12.6 %, mainly due to the growing domestic demand. “Coal production (weight: 4.38 %) increased by 0.4 % in August, 2015 over August, 2014. Its cumulative index during April to August, 2015-16 increased by 4.6 % over corresponding period of previous year,” the data said. Crude oil production went up by 5.6 % in August this year over the same month of last year. ...
BRICS bank to be operational by end of 2015
The Dollar Business Bureau The Five-member BRICS (Brazil, Russia, India, China and South Africa) group is likely to have its own development bank by the end of this year. A statement in this regard was made by one of the BRICS countries on Saturday. “The New Development Bank (NDB) is expected to be operational by end of 2015,” said Finance Minister of South Africa, as he also announced the nomination of South African banker Leslie Maasdorp as vice-president of the bank. The NDB is expected to have about $100 million in capital and inaugural meeting of the board of governors of the new bank is all set to be held in Moscow on July 7. It is noteworthy here to mention ...
