Adventz Groups Texmaco signs $2 bn MoU for Israel light rail
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 ...
India to build pipelines for supply of diesel and gas to Bangladesh
The Dollar Business Bureau As part of the Framework of Understanding (FoU) on Cooperation in the Hydrocarbon Sector with Bangladesh, India is going to build two pipelines for diesel and natural gas between the two countries. The FoU was approved by the Cabinet soon after the recent visit of Bangladeshi Prime Minister Sheikh Hasina. The said FoU is non-binding in nature and expires after five years. With an objective of strengthening energy ties with its neighbours to enhance regional energy security, India will build a 131 km pipeline for diesel transportation from Siliguri in West Bengal to Parbatipur in Bangladesh. Another pipeline for natural gas will be laid from Dattapulia in West Bengal to Khulna in Bangladesh. The 'Friendship pipeline' which will offer a logistical alternative to rail transportation of diesel, will be entirely financed by India. The ...
Asia Pacific region to be the growth engine for the world economy: FM
The Dollar Business Bureau In midst of the continuing global economic vicissitude, the Asia-Pacific region appears to be the functional ‘growth engine’ for the world economy. Asian Development Outlook 2015 estimates Asia to grow at 6.3% in 2015 and 2016, said Union Finance Minister, Arun Jaitley at the first business session of the 48th Annual Meeting of the Asian Development Bank (ADB) at Baku, Azerbaijan on May 4, 2015. The Finance Minister said, “We are meeting at a time when the global economy is looking slightly better than 2014 but not by much. Global growth in 2014 was lower than initially expected – continuing the pattern of disappointing outturns as seen in earlier years. Beneath the headline numbers, increasingly divergent trends ...
