BEIJING — It was an idea born in Beijing and, at least initially, greeted with some suspicion in Washington. But this weekend, the new Asian Infrastructure Investment Bank (AIIB) holds its first annual meeting to finally prove to doubters that it is neither China’s pawn nor about to undercut and shoulder aside the World Bank. […]
Shifting Capital Flows
‘BRICS bank’ says to issue bonds in members’ local currencies
The New Development Bank (NDB), an infrastructure-focused lender established by the BRICS emerging economies, plans to issue debt in the local currencies of its five member countries, the bank’s president said. Known as the BRICS bank, the NDB is seen by its members as an alternative to the World Bank. Its launch last year follows […]
China Readies “Silk Road” Spending Spree
The China led Asian Infrastructure Investment Bank (AIIB) has its war chest ready for action. Bank president Jin Liqun said on Tuesday that the bank has approved a $1.2 billion lending portfolio this year and will make those projects known on June 24. The AIIB is China’s answer to the Asian Development Bank and […]
India closing gap with China in FDI inflows
COIMBATORE: FDI (foreign direct investment) inflows to India are picking up. FDI inflows rose from 1.7% of GDP (gross domestic product) in 2014 to 2.1% in 2015, narrowing the gap with China as a percentage of GDP. FDI inflows accounted for 2.3% of GDP in 2015 for China. FDI inflows into India touched the highest […]
BRICS Bank announces first set of loans
The New Development Bank, the just-opened institution co-owned by the BRICS countries of Brazil, Russia, India, China and South Africa, has announced its first investments. The BRICS Bank on Friday announced that its Board of Directors has approved its first set of loans involving financial assistance of $811 million, to be disbursed in tranches, supporting […]
India’s FDI jumps more than 50% last year
Dubai: India has witnessed a 53 per cent growth in the foreign direct investment last year triggered by manufacturing in automobile, power, pharmaceuticals, among others, and the government is determined to further simplify the process of doing business, a government official said on Monday. The Indian government has undertaken major initiatives to simplify doing business, […]
US investments in emerging markets show sudden spike
MUMBAI: US investors pared their exposure to emerging market funds in 2015 but recent outperformance and change in outlook may have led them to rethink their strategies. The allocation of US investors in EM funds dropped to 12% of total equity investment in 2015 compared with 18% in 2009, according to US treasury data. But […]