India second largest stakeholder in Asian Infrastructure Investment Bank
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 ...
Japan for US$100 bn investment in Asian infrastructure
The Dollar Business Bureau In a move to increase its influence in the fast-growing Asian region, the Government of Japan is looking at investing in infrastructure development in the region over the coming five years. The Government of Japan is likely to invest US$100 billion in roads, bridges, railways and other building projects in Asia, said the reports on Tuesday. An announcement, in this regard, with respect to increasing Japanese investments in Asian infrastructure and loan assistance for Asian countries, is expected to be made by the Japanese Prime Minister, Shinzo Abe, on Thursday, said the Japanese News Agency. Through this investment, Japan is likely to prove its stance and build its profile in the Asian region by building high-quality ...
Governments B2B portal expands services to make business easier
The Dollar Business Bureau In an effort to make business process easier in India, the government’s B2B web portal – www.ebiz.gov.in – has included 14 services provided by the Central government to ensure quick and online resolution of issues faced by industries in India. The web portal aims at providing various services of the Central government, State government and government-run bodies through a single window. A total of, 14 Central government services have been integrated with the portal. “This helps improve ‘ease of doing business’ in India by reducing the compliance burden on industry arising out of procedural and regulatory formalities,” Minister of State (Independent Charge), Ministry of Commerce and Industry, Nirmala Sitharaman, said in a written reply in ...
