In November 2019, German Chancellor Angela Merkel visited India and met Indian Prime Minister Narendra Modi and co-chaired the 5th InterGovernmental Consultations (IGC). Both countries acceded to sign seventeen agreements in the fields of agriculture, ayurveda, maritime technology, migration, occupational diseases and yoga. Five Joint Declarations of Intent were also exchanged on strategic projects, partnership for green urban mobility, research and development on Artificial Intelligence (AI) and cooperation in the field of prevention of marine litter. Following are some significant Ind
Singapore companies have awoken to a hunger that’s been acquiring companies globally, from real estate to engineering. Comparing to the figure of last year’s US$41.9 billion, the overseas deals this past September are almost double at US$91 billion. The increase in deals was 7.8% to about 468 deals this year. This far outweighed the number of global mergers and acquisitions that only grew by 2%. China remains a prime target for Singapore companies like Temasek, GIC, Singapore Technologies Engineering Ltd., CapitaLand Ltd., etc. as they have invested heavily in various Chinese companies.
Facebook, the online social media and social networking service company has announced a new digital currency called Libra, for simplifying payments. This new digital currency is based on the blockchain technology and allows billions of users to make financial transactions across the globe. It’s a simple digital currency and financial infrastructure that is developed to create a more inclusive financial system. Its three most promising features are: It is created on a completely secure, scalable and reliable blockchain.It’s backed by a reserve of real assets that are meant for building
The United Arab Emirates recently launched the “Golden Card” Permanent Residency Scheme for expatriates. The scheme, launched by the UAE Prime Minister Sheikh Mohammed bin Rashid Al-Maktoum, is meant to pursue and attract wealthy individuals and exceptional talents such as doctors, engineers, scientists, students and artists from all over the world. Dubai’s ruler took to social media and stated, “We want them to be permanent partners in our journey. Residents are an indispensable part of our country. The first batch of 6,800 investors with Dh100 billion worth of investments will be gr
The Union Cabinet chaired by Prime Minister Narendra Modi gave its approval of USD 75 Billion for entering into a Bilateral Swap Arrangement (BSA), a currency swap agreement, between India and Japan thereby authorizing RBI to sign an agreement between Reserve Bank of India and Bank of Japan. The agreement is concluded between the premiers of both the countries at a summit level meeting at Yamanashi, Japan. It is essentially meant to exchange and re-exchange a maximum amount of USD 75 Billion for maintaining the appropriate levels of the balance of payments for meeting short-term deficiencies
More than half a million people of Indian origin live in Singapore. However, this is not the only reason that India and Singapore have come closer than together on multiple levels and spheres. India and Singapore relations go a long way and have widened and deepened consistently with time. When Singapore obtained its independence in 1965, China-backed communist threats loomed large, while Malaysian and Indonesian domination was also expected. Singapore found a close strategic relationship with India significant for its regional security, which also served as a counterbalance to Chinese in
The traditionally close and friendly India-United Arab Emirates relations have evolved into a significant partnership in the economic and commercial spheres, as recently, the relations between the two countries have witnessed unprecedented improvement, with leaders from both sides visiting each other’s country and signing crucial agreements in various sectors in a bid to improve relations and trade. The strategic decisions taken would go a long way to help each other grow enormously. Read More
According to annual Economic Freedom of the World report published by the Fraser Institute, Hong Kong has topped the list of the world’s most free economies this year. Next top four regions that have marked their positions in the rankings are Singapore, New Zealand, Switzerland, and Canada. America retained 16th position. Down by 0.5 points from last year, this year Hong Kong scored 89.6 out of 100 points in the overall economic freedom. Singapore scored 89.4 in the rankings. Around 186 countries received rankings that were based on 10 quantitative and qualitative factors such as levels of
Narendra Modi can be banked upon one thing for sure – changing India for the better! He is one Indian leader who has been working to change things domestically and internationally for India without any fear. He has been consistently bold and revolutionary in cleansing and purifying the system. He has definitely taken some drastic measures trying to improve things; and without doubt, India needs these drastic steps to further improve its current political and economic scenario. The latest step of demonetisation was daring, which definitely shook things up, but all for a positive cause. The n
State Bank of India (SBI) Managing Director B. Sriram will serve as the CEO of IDBI Bank for tenure of 3 months following a special order by the GOI. The appointment was passed on through an official order and is the first lateral shift of senior management in decades. The vacancy for the top position opened after its CEO Mahesh Kumar Jain was named Deputy Governor of the RBI by the Appointments Committee of the Cabinet, which decides appointments to several top posts under the Government of India and is composed of the Prime Minister of India, who serves as the Chairman of the committee. Ja