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The Dollar Business Bureau India and the United Arab Emirates (UAE) have signed a currency swap agreement that will enable businesses from both the nations to directly trade in each other’s currency, bypassing the US Dollar or any other international currency. The signing of agreement means that business communities from both sides can save huge money as trade between the two countries reached to new highs. “India and the UAE have reached an agreement that will enable businesses in both countries to bypass the dollar and other foreign currencies and trade directly in dirhams or rupees,” said Navdeep Suri, India’s Ambassador to the UAE. “[This] means that there is a saving for the business community. It makes trade between the two countries more competitive,” ...

The Dollar Business Bureau India and Oman signed eight agreements, including MoUs on cooperation in the areas of defence, tourism, outer space and health, during the visit of Prime Minister Narendra Modi to the Arab nation. Prime Minister Modi, who reached Muscat from Dubai on his last leg of three-nation tour, also held wide-ranging discussions with the Sultan of Oman Qaboos bin Said al Said. The pacts signed between the two sided are: Agreement on Legal and Judicial Cooperation in Civil and Commercial matter; Agreement on mutual visa exemption for holders of diplomatic, Special, service and official passports; MoU on Cooperation in the field of health; MoU on Cooperation in the peaceful uses of outer space; MoU on Cooperation between Foreign Service Institute, Ministry of External Affairs, ...

The Dollar Business Bureau Prime Minister Narendra Modi’s three-day visit to Israel is a landmark moment for the Jewish nation, which is seeking the friendships of powerful partners and clients for its cutting-edge military equipment. Modi started his historic’ visit on Tuesday - the first ever by an Indian Prime Minister to Israel and received an overwhelming welcome by the Jewish state.  Reflecting the significance that this is a first visit by an Indian premier since the establishment of Israel 70 years ago, the Middle East nation rolled out a red carpet to welcome the PM when he landed at Tel Aviv's International Airport. Israel’s Prime Minister Benjamin Netanyahu broke the protocol and received Modi with handshakes and hugs. Netanyahu was present with his entire Cabinet and ...

The Dollar Business Bureau Vice President Hamid Ansari on Sunday underscored India-Africa ties as "very strong" and said this relationship must be reiterated and renewed but not taken for granted.  On his five-day visit to the African countries Rwanda and Uganda, the Vice President told reporters that the agenda of his tour was in line with the Indian government’s vision to bolster the country's overall engagement with Africa.   India is expected to sign a few MoUs with its African counterparts, although the Indian government had made no confirmation in this regard.  "India's ties with the African continent have always been very strong but friendship is something that needs to be reiterated and renewed. It's a plant that needs to be watered, and no friendship ...

PTI Investment proposals worth nearly Rs.3 lakh crore would be signed with different companies during the February 16/17 Global Investment Summit (GIS) in Ranchi, a top Jharkhand government official said. Several companies have evinced interest and during the GIS many MoUs would be signed, Jharkhand Chief Secretary Rajbala Verma said, according to an official release here. The government’s effort would be to sign as many MoUs as possible and bring more and more investors to Jharkhand, she said. The Chief Secretary said that liaison officers would be there to inform about Jharkhand to the participating investors or delegates, it said. Taking stock of the preparations at the Khelgaon, Verma said she was fully satisfied with the preparations.

The Dollar Business Bureau Kakinada SEZ Ltd. (KSEZ), a subsidiary of GMR Infrastructure Limited (GIL) has signed a series of MoUs with firms interested in setting up of manufacturing units in Kakinada SEZ during the CII Partnership Summit 2017 held on January 27 and 28 at Visakhapatnam, AP. GMR Group is developing a world-class Industrial Zone – Kakinada SEZ, spread over 8500 acres and an all-weather, multi-cargo, deep water port, with an estimated phase 1 capacity of 16 million tonnes. Kakinada is often referred to as the “Houston of India” owing to the existence of Hydro-Carbon reserves and the Oil & Gas infrastructure. Acknowledging the advantage of Kakinada SEZ which is the largest industrial area with port connectivity in this region, Indian Oil & ...

The Dollar Business Bureau  On the very first day of the Sunrise Andhra Pradesh Investment Summit being held in Visakhapatnam, a staggering number of 128 pacts were signed, amounting to Rs. 4.25 lakh crore. This new flood of investment in the state is projected to create job opportunities for 5.5 lakh people, majorly in the sectors of mining and healthcare.  Some of the big names, which have signed MoUs during the two-day event are Indani Global, Neopharma, Inox Wind, REC, Ceat and NSL Mining.  The Sunrise state of India, Andhra Pradesh, has been ranked no.1 in 'ease of doing business' by Department of Industrial Policy and Promotion (DIPP) for 2015-16. Arun Jaitley, Minister of Finance, at the CII Partnership Summit, hailed the state for its impressive growth rate and promised support ...

The Dollar Business Bureau During the Vibrant Gujarat Global Summit 2017, memorandum of understandings (MoUs) worth Rs.8,835 crore were signed in textile sector in different areas including textile parks, carpet development, textile processing and machinery. Textiles Minister Smriti Zubin Irani witnessed the signing of MoUs.  “Gujarat produces 29% of India’s total cotton production and this indicates the trust of textile industries in the prospects of the state, said Irani while addressing a seminar on 'Make in Gujarat' at the Summit in Gandhinagar on Thursday.  Irani also gave assurance of support from her Ministry for the development of textile value chain of the state and for exploring opportunities in technical textiles and research. The Textiles Minister further said as a place having one of the largest concentrations ...