Loading Ticker...

Archive for the 'Global Economy' Category

Aditya Birla Group to shut part of UK aluminum foil mill, relocate it to India

Aditya Birla Group Logo

Aditya Birla Group is now doing quite well with their aluminum foil making mill in UK which is why they are planning to transfer it to India. This is because the European market is currently having some problems with over supplies and high energy cost. If there is over supply in the market, surely companies […]

Continue Reading...

Hyundai Rotem Awards a big project to Tecpro Systems Worth Rs. 160 Crores

Tecpro Systems Logo

Korea’s Hyundai Rotem Company had given Tecpro Systems Ltd a project that is worth $32.7 million (Approx. Rs. 160 Crores). The project involves supplying of coal, limestone and ash handling systems for a thermal power plant called Mong Doung. The tecpro systems will handle design, engineering, manufacturing, testing and delivery of a coal, limestone and […]

Continue Reading...

US Senator asks not to forward jobs to India

Diebold Logo

One of the US senator asked Diebold, Ohio based security System Company not to move 200 IT and back office jobs to India. It is heard that the company cited reasons like lack of potential skill shortage in the country to move such jobs to India over next two years. An official letter from the […]

Continue Reading...

Indian companies help drive innovation, education and employment in the US

Indian IT majors generating jobs in the US

For a long time, since US is the more supreme when it comes to economy, India has long been taking benefits from the said country. India had not provided any job opportunities in the US since doing it in their own promises is somehow difficult. But, this is a long time ago and today, India […]

Continue Reading...

BRICS Nations Sign Treaty For Local Currency Facility

BRICS Nations Logo

In order to minimize the cost of intra-BRICS trade, the five-member nations of this community signed a new pact to extend credit in the respective local currency on Thursday. The agreement was signed at the conclusion of the summit. This year the summit was held in New Delhi. The countries which signed the deal were […]

Continue Reading...

India Receives Rs.764.54 crore Grant from World Bank For Kerala

World Bank India Logo

The Union government has received a grant of Rs.764.54 crore, through a credit agreement with International Development Association (an arm of the World Bank), to help boost sanitation services and water supply in several districts of Kerala. According to the joint secretary, economic affairs, ministry of finance, Venu Rajamony, the project will be implemented in […]

Continue Reading...

RBI Approved Reliance Communications For Refinancing From China

Reliance Communications Logo

Reliance Communications Ltd. received the permission from the Reserve Bank of India for the refinancing from Industrial and Commercial Bank of China Ltd (ICBC) and Export Import Bank of China (EXIM) for deliverance of its outstanding FCCBs (Foreign Currency Convertible Bonds). The terrific FCCBs of US$ 1,182 million (approximately Rs. 5,825 crore at the prevailing […]

Continue Reading...

Foreign Direct Investment Is Set To Grow In Huge Numbers In The Coming Years

FDIs set to plummet in India

Foreign investment in India rose to the highest value in three years in 2011. Lack of transparency, poor infrastructure and policy paralysis is the new mantra for growth among the economic investors these days. Foreign direct investment in India is going to be huge in the coming years. According to an Ernst & Young (E&Y) […]

Continue Reading...