India-Colombia to sign BIPA to increase investment flow

September 17th, 2009 NEW DELHI - World Bank consultant Premila Nazareth on Thursday emphasised that India needs to liberalise and change its policies to attract more foreign direct investments. During the release of the annual study of worldwide investment trends by the United Nations Conference on Trade And Development (UNCTAD) in the national capital, Nazareth also blamed the bureaucracy in India as the main reason for less inflow of foreign investments.

August 13th, 2009 NEW DELHI - Signs of India's economic recovery appear to have lifted confidence levels among foreign investors, as the country received a foreign investment flow that was five times more in the in April-June quarter this year. According to data released by the Reserve Bank of India (RBI), in the preceding quarter of January- March, the country received three billion US dollars worth of foreign investment, while in the April-June quarter it received 15-billion US dollars in foreign investment.

August 4th, 2009 NEW DELHI - India and Singapore Tuesday signed a joint action plan which, officials said, would help both countries attract more tourists. According to the plan, tourists visiting Singapore will be offered an option to include a four-five day trip to India in their itinerary, thus adding variety to their holiday.

July 13th, 2009 NEW DELHI - The state-run Oil and Natural Gas Corp. Ltd will invest $730 million in a Cairn India block in Rajasthan, despite expecting negative returns, Petroleum Minister Murli Deora said Monday.

July 12th, 2009 NEW DELHI - Despite the global slowdown, the chemicals sector witnessed the highest growth in foreign investment in 2008-09, says a report by an industry lobby. The report by the Associated Chambers of Commerce and Industry of India (Assocham) released Sunday said the chemicals sector (other than fertilisers), attracted $749 million last fiscal as compared to the $229 million it attracted the previous year - an increase of 227 percent.

July 2nd, 2009 NEW DELHI - The stage is set for a comprehensive economic pact between India and South Korea after the union cabinet Thursday approved signing of the agreement. "The union cabinet today (Thursday) approved the proposal for signing of a comprehensive economic partnership agreement (CEPA) with South Korea," Information and Broadcasting Minister Ambika Soni told reporters here.

July 1st, 2009 AIG to sell consumer finance unit in ColombiaNEW YORK — American International Group Inc. on Wednesday said it agreed to sell all of its ownership interests in its consumer finance operations in Colombia, the latest in a recent string of asset sales by the embattled insurer to bolster its finances.

June 30th, 2009 KOLKATA - India and Bhutan will jointly develop 10 hydroelectric projects by 2020, according to Bhutanese Prime Minister Jigmi Y. Thinley. "By 2020, the two countries have agreed to develop a little over 11,000 megawatts hydel power green energy through some 10 projects.

May 5th, 2009 NEW DELHI/GURGAON - The decline in foreign investment in India has taken a huge toll on sectors like real estate, manufacturing, infrastructure and even art, which was bolstered by demand from globalization's nouveau riche here and abroad. In the last quarter of 2008, the Indian economy's growth rate plummeted to about 5.3 percent, the lowest in five years.

April 25th, 2009 China, Taiwan to increase economic cooperationBEIJING — Envoys from rivals China and Taiwan meet this weekend to discuss a trade agreement and sign pacts to increase economic cooperation. The talks come as Taiwan President Ma Ying-jeou tries to develop more amicable relations with the mainland following strains over his predecessor's pro-independence stance.

April 16th, 2009 NEW DELHI - Urging for 'greater US investment flow' into India, a top diplomat said here Thursday that this was a good time for foreign institutional investors (FIIs) to return to the country as the economic situation was improving. Speaking at an interactive meeting with members of the Indo-American Chamber of Commerce (IACC) here, Meera Shankar, India's ambassador designate to the US, underlined the need to take appropriate steps to further enrich the economic engagement.

March 25th, 2009 NEW DELHI - Bilateral Investment Promotion and Protection Agreement (BIPA) between India and Libya has become effective with the exchange of Instruments of Ratification (IsR) between them, here today. Dr. Anup K. Pujari, Joint Secretary, Ministry of Finance, Government of India and Mohammed Saleh Ei-Saghier Milad, Director, International Legal and Treaties Department, Government of Libya exchanged the IsR at a ceremony presided over by L.M.

February 11th, 2009 NEW DELHI - The government has rationalised the foreign investment norms as there is a tightening in the global markets, Commerce Minister Kamal Nath said here Thursday. 'Government has rationalised calculation of FDI (foreign direct investment).

January 18th, 2009 NEW DELHI - Indian Inc. needs to shift its focus from trade to investment in order to compete with China, Minister of State for Commerce and Power Jairam Ramesh said here Monday.

January 11th, 2009 NEW DELHI - India is set to sign a memorandum of understanding (MoU) with Canada for increased cooperation in the field of agriculture, the Canadian High Commission here said in a statement Monday. The bilateral MoU aims to enhance knowledge sharing, animal development and agricultural marketing know-how between the two nations and to increase the bilateral exports between the two nations.