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The Dollar Business Bureau President of Vietnam, Tran Dai Quang extended invite to business communities in India to invest in Vietnam and said that his country offers conducive environment and sustainable development. “India continues to be among Vietnam’s top ten trading partners as the bilateral trade turnover has increased 16% per annum on average in the past decade,” the Vietnamese President said while addressing a business meeting jointly organised by ASSOCHAM, CII and FICCI in New Delhi on Saturday. “India has given priority to Vietnam in development cooperation and education and training, and paid attention to promoting bilateral cooperation in science and technology, information and communication, energy, oil and gas, agriculture and tourism,” he said. “India has actively supported Vietnam in training, capacity building, ...

The Dollar Business Bureau The World Summit on the Information Society (WSIS) Forum 2017 represents the world's largest annual gathering of the ‘ICT for development’ community. The annual WSIS Forum is a global multi-stakeholder platform facilitating the implementation of the WSIS Action Lines for advancing sustainable development. The Forum provides an opportunity for information exchange, knowledge creation and sharing of best practices, while identifying emerging trends and fostering partnerships, taking into account the evolving Information and Knowledge Societies.  The Forum is co-organized by ITU, UNESCO, UNDP and UNCTAD, in close collaboration with all WSIS Action Line co-/facilitators and other UN organisations (UNDESA, FAO, UNEP, WHO, UN Women, WIPO, WFP, ILO, WMO, ITC, UPU, UNODC, UNICEF and UN Regional Commissions). It provides an ...

The Dollar Business Bureau The United Nations (UN) has revised India’s GDP growth forecast downward for 2017 but projected an increase in 2018 predicting 7.9% economic growth as it warned that the banking sectors’ stressed balance sheets will have adverse impact on investments in the short-term. The UN World Economic Situation and Prospects (UNWESP) in its mid-2017 report, launched on Tuesday, said that India is predicted to achieve a growth of 7.3% this year, downward from its earlier forecast of 7.7%, which it made when the report was launched in January. However, the revised report forecast that the country will achieve a notable 7.9% GDP growth next year, from its earlier estimates of 7.6% made in the January report. The report, however, cautioned that stressed balance sheets of India’s banking sector, which has ...

The Dollar Business Bureau It has been six months since the Modi-led government decided to invalidate more than 85% of cash in circulation. Curbing terror funding, boosting cashless economy and cracking down on counterfeit currency were among a host of reasons cited, the most critical one being elimination of black money from circulation. The UN recently released a study titled ‘Potential Impact of Demonetisation in India’, which stated that demonetisation alone will not be able to uproot the seeds of black money. To prevent future flow of black money, the study said, other complementary measures would be required. The Goods and Services Tax reform, voluntary disclosure of income scheme, the linking of taxation with unique identification numbers, were among the other supporting steps ...

The Dollar Business Bureau It has been a little over one year since the Paris deal on Climate change was signed in December 2015, and only a few months since it came into effect after being ratified by around 130 nations. The UN Secretary General, Antonio Guterres, drew attention to the fast expanding clean energy revolution at a UN General Assembly event on March 25, 2017. The international peace-keeping mission leader emphasized India's long strides in augmenting renewable energy capacity, as he spoke about India's target to almost double renewable power capacity to 18GW in 2017. He mentioned that more than half of the new capacity in energy generation worldwide was being created in the green fuel sector. In Europe, the share is more than 90%. While there are ...

The Dollar Business Bureau Unemployment rates are on the rise, especially in commodity exporting countries like Russia, Brazil and South Africa, the International Labour Organisation (ILO) said on Thursday, due to a slowdown in global growth, especially in developing nations like China, and decline in commodity prices. Due to uncertainty in the investment climate all over the world, driven by a new wave of protectionism and isolationism, employment rate is expected to contract as job creation suffers. Global trade and investment growth, after expanding annually at 6% from 1990 to 2011, fell to 2.7% over the period 2012-14. Despite growth in global savings, investment isn't flourishing. Guy Ryder, Director General at ILO, said that the rate of unemployment increased from 5.7% to 5.8% in 2017, citing deteriorating labour market conditions in emerging economies as the main contributor to the rise in unemployment. In 2017, ...

The Dollar Business Bureau In order to enhance bilateral engagement, India and Portugal on Saturday signed seven agreements in wide range of fields including renewable energy, IT, defence and security, even as both the nations took an indirect dig at China for blocking India’s move at the United Nations (UN) to list Jaish-e-Mohammed (JeM) Chief Masood Azhar as global terrorist.  In wide-ranging discussions between Indian Prime Minister Narendra Modi and his counterpart from Portugal Antonio Costa, while agreeing to strengthen the relations, also called for strict global action against the networks of terror and the nations harbouring the terrorists and emphasising that to combat terrorism, there should not be double standards. PM Modi stated to the media that he and Portuguese Prime Minister ...

Himanshu Vatsa | The Dollar Business  As the US and other developed countries are mulling over lifting trade restrictions on Iran, Indian exporters say the move will have diversified impact on the existing bilateral economic ties. Since 2002, Iran has been facing sanctions imposed by the United Nations (UN), European Union (EU) and several individual countries to prevent the Islamic republic from developing military nuclear capability. Now, the UN Security Council members (the US, UK, France, Russia, China), also known as P5, plus Germany are holding discussions in Vienna to reach an agreement on Iran’s nuclear programme and removal of trade restrictions on the country in a phased manner. Experts say that Iran and P5+1 group are likely to finalise a deal ...