CHENNAI: The Tamil Nadu government is eyeing investments worth USD 15 billion in the aerospace and defence sectors in the next 15 years to make the state a preferred hub for the two industries. This was revealed in the ambitious aerospace and defence policy unveiled by Defence Minister Nirmala Sitharaman on the inaugural day of the second edition of the Global Investors Meet here Wednesday. The objective of the policy is to make Tamil Nadu the preferred hub for aerospace and defence industries in India in the areas of engineering, design, manufacturing and allied activities. Sitharaman had on January 20 inaugurated the Tamil Nadu Defence Industrial Corridor in Tiruchirappalli, about 300 km from Chennai. Investments worth over Rs 3,038 crore in this defence corridor were announced with majority of them from public sector undertakings. The Aerospace and Defence Policy aims to attract an estimated investment of about USD five billion in a five-year period and another USD 10 billion in … [Read more...] about Tamil Nadu eyes USD 15 billion investments in aerospace, defence sectors
12 billion euros to usd
In 2019, Ireland's total imports from China were valued at 5.25 billion euros, down by 3.3 percent from 5.43 billion euros in 2018. Despite the drop, China still maintained its position as Ireland's fifth largest source of imports in 2019, showed the CSO data. … [Read more...] about China becomes 5th largest trade partner of Ireland in 2019
DUBAI: S&P downgraded its credit rating for Sharjah, one of the seven emirates that make up the UAE, on Friday citing an increasing debt and interest expenses burden. The ratings agency lowered its long-term rating to BBB from BBB+, but kept its outlook at stable. It said weak economic conditions in the third largest emirate since 2019 have led to "decreased government revenue from government-related entities and land sales". The agency also said "increased government grants and land compensation payments, as well as accelerated payments to contractors, has resulted in a wider-than-anticipated deficit." Activity in the private sector in the United Arab Emirates' (UAE) shrank in January for the first time since 2009, with jobs in the private non-oil sector declining at one of the strongest rates on record, a survey showed on Tuesday. In November, ratings agency Moody's said Sharjah, along with Dubai, was among the most vulnerable to the impact of the non-oil sector slowdown in … [Read more...] about S&P downgrades emirate of Sharjah rating to ‘BBB’
The New Union Finance Minister in her budget speech last week touched The Holy Grail of Indian Fiscal Management - the possibility of The Government raising Debt from Overseas Investors via an International Debt Issuance. In the context of the country's liquidity and credit situation, there could not be a better time to lay 27 year old demons and draconian thinking to rest - so three cheers Madam Sitharaman! A large part of the community of International Bankers , including yours' truly, has been echoing this sentiment for some time now (maybe 20 years!!) . For certain very pertinent reasons. The Domestic Capital Markets and the present Crisis of Confidence With the sad demise of IL&FS in the 3rd quarter 2018, and massive collateral damage to the Domestic Credit markets - various "stretched" balance sheets have begun to collapse under the stress of constrained liquidity channels. This has led to the circumstances fast leading to a liquidity crisis , transforming into a Credit … [Read more...] about Budget 2019: India’s Offshore Borrowing Plans – Effectiveness and Fallacies!
“Trade negotiators from India and the US have been working hard to add value to the bilateral economic engagement, leveraging on their mutual advantages. As Prime Minister Narendra Modi hosts Trump to a national reception, the two leaders would give a decisive lift to bilateral ties,” Assocham Secretary General Deepak Sood said. … [Read more...] about Expectations high on ‘mini’ trade deal during Trump’s visit: India Inc