UN declares ‘Invest India’ winner of Investment Promotion Award 2020
The evaluation was based on UNCTAD’s assessment of work undertaken by 180 national investment promotion agencies across the world.
Trade & Economy
Coal India to invest over $760 million over four years in solar to cut costs
The state-run company will fund nearly two-thirds of its plan to construct rooftop and ground-mounted solar power projects with a capacity of 3,000 megawatts (MW) with cash.
New Asian trade bloc could play key role in driving investment
A new trade bloc covering a huge swathe of the Asia-Pacific region will play an important role in developing poorer economies and in post-pandemic stimulus, according to a report published on Monday by the UN Conference on Trade and Development (UNCTAD).
RCEP signatories ready for negotiations once India gives written request to join pact
Now the members of RCEP are 10-nation bloc ASEAN (Indonesia, Malaysia, the Philippines, Singapore, Thailand, Brunei, Vietnam, Laos, Myanmar and Cambodia), China, Japan, South Korea, Australia and New Zealand.
Asia forms world’s biggest trade bloc, a China-backed group excluding U.S.
The deal marks the first time rival East Asian powers China, Japan and South Korea have been in a single free trade agreement.
Saudi Arabia to do away with key restrictions on foreign workers
Human rights groups have repeatedly called on the kingdom to abolish its “kafala” sponsorship system, described by critics as a modern form of slavery that binds workers to their Saudi employers.
ADB for additional funding for Afghan agro project
The Asian Development Bank (ADB) has approved a grant of $18.28 million in additional financing
Global foreign direct investment halved amid pandemic, but China remained resilient
Foreign direct investment (FDI), a bellwether of globalisation and economic confidence, fell by 49 per cent to $399 billion in the first half of 2020, amid the upheaval caused by the coronavirus pandemic, a new report from the UN trade and development organization UNCTAD showed on Tuesday.
Future of global trade remains deeply uncertain
West and south Asia saw the sharpest declines, with imports dropping by 23 per cent, and exports by 29 per cent.
‘Less severe’ but ‘still deep’ recession predicted: IMF
According to the report, with the COVID-19pandemic continuing to spread, many countries have slowed reopening, and some are reinstating partial lockdowns.