BRICS Bank Inks Strategic Cooperation Deal with China Construction Bank
The New Development Bank (NDB) launched by the BRICS countries on Wednesday signed a strategic cooperation agreement with China Construction Bank, the country’s second-largest lender. “The NDB, as per its mandate, is building partnerships with major banks in its member countries. Cooperation with CCB is important for us, given the key role it plays in infrastructure financing,” said NDB […]
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 […]
Modi Government Not Committed to International Integration
With Indian Prime Minister Narendra Modi set to be hosted at the White House tomorrow by President Obama, a Washington think tank has assessed Modi’s economic performance in his first two years in office. While the prime minister has made progress in several areas, notably opening more sectors of the Indian economy to private investment, trade […]
BRICS bank set to issue yuan-denominated bonds
The New Development Bank of the BRICS countries is set to issue its first yuan-denominated bonds with plans to release more bonds in local currencies including in Indian Rupee, a top official of the bank has said. The Shanghai-based bank founded by Brazil, Russia, India, China and South Africa (BRICS) and headed by eminent Indian banker M […]
India in a tight spot at RCEP trade talks
India is in a tight spot at the trade negotiations for the Regional Comprehensive Economic Partnership (RCEP) as Japan and China are pushing for either common tariff for all member countries in 10 years’ time or to make the initial tariff liberalization more ambitious. India may face mounting pressure to increase its tariff liberalization proposal […]
World Economic Forum: What’s Next For AGOA And U.S. – Africa Trade?
African economies have changed and trade relations need to evolve since the U.S. first started offering duty-free access to certain countries under the African Growth and Opportunity Act, said U.S. Trade Representative Michael Froman in a Bloomberg interview. Since AGOA first started in 2000, African economies have become more integrated and they’ve changed in terms of demographics, development and technology, Froman said […]
China, Russia to cooperate closely in global affairs, says XI
Chines President XI Jinping on Thursday said he and his Russian counterpart Vladimir Putin are in agreement over strengthening coordination in international affairs. The central task in China-Russia ties is to translate the high-level political relationship into more pragmatic cooperation and coordination in international affairs, Xi told visiting Sergei Naryshkin, head of the State Duma, […]