* High oil prices threaten to derail growth in China, India – IEA
China began diversifying away from the US dollar in earnest in the first four months of this year, most likely by buying far more European government debt than US dollar assets, according to estimates from Standard Chartered Bank, the FT reports . China’s foreign exchange reserves expanded by around $200bn in the first four months of the year, with three-quarters of the new inflow invested abroad in non-US dollar assets, the bank estimated.High oil prices threaten to derail growth in China, India – IEA High crude prices have slowed the economic recovery in the United States, the world’s largest oil consumer, and could derail growth in China and India, the International Energy Agency said on Tuesday. “China and India are two most important economies which helped us get out of the economic crisis,” the IEA’s Chief Economist Fatih Birol told Reuters .
Clegg on mission to beef up Brazil links Nick Clegg will pledge to double British exports to Brazil by the end of this parliament as the deputy prime minister kicks off a trade trip to São Paulo on Tuesday by acknowledging that Britain has failed to nurture ties with the South American powerhouse, the FT reports . The 45-member delegation includes business leaders, academics and sports people, all promoting Brand Britain during the two-day trip. Jeremy Hunt, culture secretary, will be accompanied by Olympic officials and business figures as he attempts to sell knowledge of stadium development and stewardship to the Brazilians, ahead of Rio’s hosting of the games in 2016.
India’s ONGC to invest $7.7bn in KG basin Oil and Natural Gas Corporation (ONGC) plans to invest $7.7bn to develop its gas field in the KG Basin, adjoining Reliance’s prolific D-6 block, and produce up to 30 million cubic meters aday in five years, the Economic Times reports . It plans to drill eight additional wells in the block to maximize output from the deep-sea field in the Bay of Bengal and has sought approval for the plan from the directorate general of hydrocarbons and the petroleum ministry.
Indian Rail to start 100bn-Rupee bond sale India’s Ministry of Railways will start a 100 billion-rupee ($2.2bn) domestic sale of tax- free bonds by September to help upgrade and expand Asia’s oldest train network, Bloomberg reports . The offering will be divided between a private placement and a later tranche for retail investors, Rajendra Kashyap, managing director of finance arm Indian Railway Finance, said in a June 17 interview in New Delhi. Plans for the money include spending as much as 53 billion rupees on laying additional rail lines, 21 billion rupees for widening tracks and 8.5 billion rupees for electrification, he said.
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At the same time, carriers including Alaska Air Group Inc. and Southwest Airlines Co. are pushing to phase in the use of more sophisticated satellite navigation aids to assist planes as they approach the airport, an effort that will depend on many of
The oil-exploration company had earlier expected the share sale to be held by July 5, but it will now file the prospectus with the Securities and Exchange Board of India by June 28, said Chairman AK Hazarika on Tuesday to the ET Now television channel.
“I had a nice house and I had made a reasonable living out of the security business, so I thought that I could get three or four contracts a year and shuffle off. A lot of people think the arms trade is not ethical – that is a personal point of view
LAS VEGAS-- is on location in Las Vegas this week attending Vacation.com's 13th International Conference & Trade Show. The event kicked off last night, June 19, at Mandalay Bay Resort & Casino with a general session and welcome reception.
The conference is being attended by international affairs and business experts, as well as Alaska officials and many scientists and other interested parties. “Special emphasis will be placed on discussing the need for regulation and international
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