Search Result for : Wef

PTI As the five-day talkathon of global elite wrapped up in freezing cold climes of Swiss Alps ends here today, world leaders foresaw a new normal for globalisation with a lot more 'inward focus' by various countries including the US, even as global economy appeared poised for a fresh growth era propelled by India and China. With the narrative getting populated with populism and politics-driven possible 'black swans' emerging after polls in some major economies, calls grew louder for 'responsive and responsible governments' to tackle income and gender inequalities on a war footing. While China emerged as an unlikely hero of capitalism after presenting itself as the new champion of globalisation, experts seemed to be a less convinced lot about that country becoming ...

PTI With the message of being a "very friendly" investment destination, India today sought to woo foreign investors at the WEF annual meet where leaders pored over the benefits of globalisation amid concerns over the impact of automation on jobs worldwide.The issue of slow pace of bridging the gender gap also figured prominently in discussions, with IMF chief Christine Lagarde referring to an example from India about how women are using mobiles to report harassment by their mothers-in-law.India, one of the fastest growing major economies, was represented here by a delegation of over 100 individuals, including ministers, government officials and business leaders. The country is striving to showcase itself as a bright spot in an uncertain global economic situation.While Union Minister Nitin ...

The Dollar Business Bureau Union ministers Nitin Gadkari and Nirmala Sitharaman joined today with over 100 corporate leaders from India at the World Economic Forum meet at Davos, Switzerland to display flagship programmes such as Make In India, Digital India etc. These programmes are expected to be showcased by the Government officials as the country seeks to attract more investments. They would also represent India’s economic strength and overall growth potential.  The WEF, held at Davos annually is the most sought-after gathering of elites from the spheres of business and politics. This year, the theme reflects a need for responsive and responsible leadership, very apt considering the political shocks that major western nations have rocked the world economic scene with.  India appeared to be ...

The Dollar Business Bureau Chief Minister of Andhra Pradesh, N. Chandrababu Naidu has managed to rope in investment for the fledgling city of Visakhapatnam yet again. As part of his trip to Davos, of which the main agenda is the annually held World Economic Forum (WEF), the Chief Minister has piqued the interest of a major Swiss-based train manufacturing concern, Stadler. According to Chief Minister's Office (CMO), Stadler has agreed to set up a locomotive and rail coach manufacturing unit in Visakhapatnam, its second such unit in India after the one already existing in Kanchrapara, West Bengal. “The Chief Minister, during his talks with Stadler executives, invited them to set up their manufacturing unit in AP and they consented to it,” the release from CMO stated. Stadler, which has a presence in 11 locations across Europe, ...

PTI World's rich and powerful people, including over 100 from India, as well as government heads from the UK, China, Pakistan and Bangladesh will be in this Swiss ski resort for 5-day WEF Annual Meeting beginning on Monday to hold discussions on global economy and need for a 'responsive and responsible leadership'.Union Ministers Nitin Gadkari and Nirmala Sitharaman, Niti Aayog's Arvind Panagariya, DIPP Secretary Ramesh Abhishek and Andhra Chief Minister Chandrababu Naidu are among the prominent attendees from India at the elite talkfest, where Modi government's demonetisation move, as also the fear of 'de-globalisation' in the wake of Trump Presidency in the US, will be among key topics of discussion.There will be a special session on India where the panelists will ...

The Dollar Business Bureau  Climate change could wipe off the value of global assets by $2.5 trillion, according to the World Economic Forum’s (WEF) new set of economic modeling. “Under a business-as-usual emissions path, this could cut $2.5 trillion off their value. However, under a worst-case scenario this could rise to $24.2 trillion,” said the global body, highlighting the quantum of the impact.  The WEF made the revelation after it assessed the impact of climate change on the current value of global financial assets. It said an immediate action was imperative to limit the harm on the deteriorating global climate in order to save environment as well as global economy. “Limiting warming to no more than 2 degrees Celsius makes financial sense to risk-neutral ...

Source: PTI    Confident of pushing GDP growth higher and continuing the reforms agenda, Finance Minister Arun Jaitley on Saturday said one main reform which is still work in progress is ‘ease of doing business’ in India and steps are under way on that front. Jaitley also said the political opposition is unlikely to obstruct the reform process, including on the direct and indirect tax reforms, and he was hopeful about the GST getting through as well which is one of the few reforms that has been held up. He said India’s ranking has improved on ease of doing business in the last one year, but more needs to be done on that front and necessary steps are being undertaken. Speaking ...

Yuans inclusion in the list of global reserve currency will be effective from October 1, 2016, said the Executive Board of the IMF Himanshu Vatsa | The Dollar business Bureau The inclusion of RMB in the SDR basket is an important milestone in the integration of the Chinese economy into the global financial system, said IMF Managing Director Christine Lagarde   In a landmark development, the International Monetary Fund (IMF) has included Chinese renminbi (RMB) into the elite global currency reserve along with the US dollar, British pound, euro and Japanese yen. The decision which came on Monday after the quinquennial review of the SDR (Special Drawing Rights) basket of the IMF is expected to strengthen the Chinese yuans position in the global exchange ...