Top US CEOs commit to invest in India
The Dollar Business Bureau The Indian Prime Minister who visited the US and met the American President Donald Trump on June 26, also had a closed-door meeting with 20 top US CEOs the very same day. Many CEOs, according to Mukesh Aghi, President of US India Business Council (USIBC) who spoke to the Indian media, reiterated their ‘commitment to investing in India a very large amount.’ ‘Almost half a dozen of them made a very large dollar commitment,’ Aghi said, refusing to divulge the details of the amount and the names. The meeting which lasted for 90 minutes, ended on a positive, win-win note he said. The PM had responded favourably to all the questions that the CEOs raised, which revolved around defence, ...
Indian drug firms to see moderation in growth in US
The Dollar Business Bureau Rating agency ICRA on Thursday said that the Indian pharmaceutical industry will witness moderation in growth due to slow down of business in the US with a decline in the volume of large size drugs going off patent, increasing competition and adoption of generics reaching a saturation level. Over the last 10 years, the Indian pharmaceutical companies have witnessed a strong growth driven largely by the US market. "However, the growth from the US market has been down to 15 percent in financial year 2015-16 and looking forward the momentum for growth is possibly to face more pressure," ICRA (Investment Information and Credit Rating Agency of India) said in a statement. The Indian drug companies will have an impact on ...
Stocks fall worldwide on oil price drop
Stocks fell around the world on Wednesday, impacting majorly the Asian markets, as the price of crude declined on the news that the three-day strike by oil workers in Kuwait ended, suddenly leaving the markets directionless. As concerns about oversupply of oil in the market returned to the forefront, prices of Brent crude and US crude oil futures slumped. Reversing Tuesday’s sharp gains, Brent crude fell by $1.12 to $42.91 a barrel, whereas US crude oil was down $1.09 to $39.99. The concerns over Chinese economy also resurfaced as Shanghai Stock Exchange slid 3.8 percent, with almost all the sectors from telecoms to financials witnessing a slide. The depressing mood of the market also reflected due to 0.3 percent fall in S&P 500 EMINI ...
TPP would pressure on China to increase standards: US
Source: PTI The multi-nation Trans-Pacific Partnership (TPP) accounting for 40% of the world economy would put pressure on China to raise its environmental and labour standards, the White House has said. “There's no denying that this does put pressure on China to raise environmental standards, to raise labour standards, and to incorporate the kind of intellectual property protections that are included in the Trans-Pacific Partnership agreement," White House Press Secretary Josh Earnest said. His remarks come a day after 12 countries reached agreement on the Trans-Pacific Partnership following grueling Atlanta negotiations. TPP does put a lot of pressure on China that typically likes to see their own influence inside of Asia, and by raising economic standards in the Asia Pacific, the ...
