Search Results for: infrastructure bonds

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India lauds BRICS bank set up to counter Western hold on global finances

New Delhi, July 16 (ANI): Experts and leaders, on Wednesday welcomed the setting up of $100 billion BRICS bank and a currency reserve pool aimed at reshaping the Western-dominated international financial system. Leaders of the five top emerging markets in BRICS nations consisting of Brazil, Russia, India, China and South Africa, sealed the deal to foster financial and development cooperation and keep the monetary tap running in the face of a financial meltdown like the 2008 crisis. A senior researcher at the New Delhi-based Observer Research Foundation think-tank, Samir Saran, said bank would help emerging and developing nations to mobilize resources for infrastructure and development projects. BJP leader Subramanian Swamy, welcomed the setting up of the bank, adding that the previous Congress -led government had committed to the Chinese demand to have the bank being headquarted in Shanghai. Jul 16, 2014
M Venkaiah Naidu

Kerala Leads among States in India's Urban Growth

India's urban population has increased by nine crore in the last one decade. Kerala marked fast urbanisation among states with 21.70 per cent growth and with 39 per cent urban growth Daman and Diu leads among union territories of the country. Jul 16, 2014
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BRICS Summit clears setting up of $100 billion New Development Bank with India's presidency first

Brazil, July 16 (ANI): Leaders of the five BRICS countries met for the first working session in Brazil in a major victory for India, sealed the agreement on the much anticipated 100 billion dollars BRICS Development Bank. The new development bank of the group of BRICS countries will be headquartered in Shanghai, China, with the presidency initially held by India. The deal was reached after intense last-minute negotiations to settle a dispute between India and China over the headquarters of the new bank, which will have initial capital of $100 billion to invest in infrastructure projects. Negotiations to create the bank dragged on for more than two years as Brazil and India fought China's attempts to get a bigger share in the lender than the others. The stark economic and political differences between the BRICS countries have made it difficult for the group to turn rhetoric to concrete action in coordinating policies. Jul 16, 2014
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BSE closes points 221.67 up on July 15

New Delhi, July 15 (ANI): Trading at the Bombay Stock Exchange today closed 221.67 points up to stand at 25,228.65. At the National Stock Exchange the Nifty closed 72.50 points up to stand at 7,526.65. Financial Tech and MCX were among the top gainers of Group A with an increase of 10.00% and 9.25% along with Future Retail and Reliance Infrastructure Ltd. with an increase of 9.25% and 7.40% respectively, while the top losers of Group A include Piramal Enterprises Ltd. and CRISIL with a decrease of 9.83% and 4.00% along with Sobha Developers Ltd. and Dr Reddys Lab with a decrease of 2.74% and 2.34% at the close of the markets. The Auto sector is up 214.22 points at 15,518.66 while the banking sector is up 458.18 points at 17,053.82 and the realty sector is up 40.74 points at 1,931.90. The Indian currency is 0.15% down at Rs 60.16 per dollar. Jul 15, 2014
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