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ADB approves $177 mn loan to upgrade 450 km of state highways, major district roads in Maharashtra
Business

ADB approves $177 mn loan to upgrade 450 km of state highways, major district roads in Maharashtra

The Asian Development Bank (ADB) on Thursday signed a $177 million loan to upgrade 450 km of state highways and major district roads in Maharashtra

Coronavirus pandemic could inflict up to $8.8 trillion losses in global economy, says ADB
Business

Coronavirus pandemic could inflict up to $8.8 trillion losses in global economy, says ADB

The global economy is expected to suffer USD 5.8-8.8 trillion in losses due to the coronavirus pandemic, Asian Development Bank (ADB) said on Friday

Asian Development Bank gives over Rs 2,600 cr loan for power sector in rural Maharashtra
Business

Asian Development Bank gives over Rs 2,600 cr loan for power sector in rural Maharashtra

The Asian Development Bank (ADB) on Wednesday said it has approved a $346 million (around Rs 2,616 crore) loan to the Indian government to provide reliable power connection in rural areas of Maharashtra

Coronavirus Outbreak: ADB approves $1.5 bn loan to India to fight COVID-19 pandemic
Business

Coronavirus Outbreak: ADB approves $1.5 bn loan to India to fight COVID-19 pandemic

The Asian Development Bank (ADB) on Tuesday said it has approved $1.5 billion loan to India to help fund its fight against coronavirus pandemic

Coronavirus Outbreak: World's biggest lockdown likely to cost Rs 7-8 lakh cr to Indian economy, say analysts
Business

Coronavirus Outbreak: World's biggest lockdown likely to cost Rs 7-8 lakh cr to Indian economy, say analysts

Prime Minister Modi is likely to detail the post-lockdown scenario in an address to the nation on Tuesday morning.

ADB assures Rs 16,500 cr support package to India for COVID-19 response; commends govt's response to pandemic
Business

ADB assures Rs 16,500 cr support package to India for COVID-19 response; commends govt's response to pandemic

ADB is also engaged with the private sector to meet its financing needs during this period, ADB said in a statement.

'Greatest emergency since Independence': Raghuram Rajan urges govt to seek experts' help in dealing with COVID-19's economic impact
Business

'Greatest emergency since Independence': Raghuram Rajan urges govt to seek experts' help in dealing with COVID-19's economic impact

Former RBI governor Raghuram Rajan has suggested to the government to call people with proven expertise and capabilities, including from Opposition, to deal with perhaps the greatest emergency being faced by the country since Independence following the coronavirus outbreak.

Coronavirus Outbreak: Former RBI governor Raghuram Rajan urges govt to invite experts to deal with economic impact of pandemic
Business

Coronavirus Outbreak: Former RBI governor Raghuram Rajan urges govt to invite experts to deal with economic impact of pandemic

Rajan, a professor of finance at the University of Chicago Booth School of Business, suggested that India should now plan for what happens after the lockdown, if the virus is not defeated.

Coronavirus Outbreak: ADB expects India's economic growth to slow down to 4% in FY21
Business

Coronavirus Outbreak: ADB expects India's economic growth to slow down to 4% in FY21

India's economic growth is likely to slow down to 4 percent this fiscal on the back of the current global health emergency, Asian Development Bank said in its outlook for the financial year 2020-21 on Friday

ADB to invest $100 million in Indian infrastructure sector via government-promoted NIIF
Business

ADB to invest $100 million in Indian infrastructure sector via government-promoted NIIF

Multilateral institution Asian Development Bank (ADB) on Monday announced a $100 million funding for the Indian infrastructure sector through the government-promoted NIIF

Coronavirus pandemic: ADB announces $6.5 billion package for developing member countries
Business

Coronavirus pandemic: ADB announces $6.5 billion package for developing member countries

The Asian Development Bank (ADB) on Wednesday announced a $6.5 billion package for its developing member countries to fight the coronavirus pandemic

ADB to give $200 mn to companies manufacturing products to combat coronavirus
Business

ADB to give $200 mn to companies manufacturing products to combat coronavirus

The Asian Development Bank (ADB) on Thursday said it will provide $200 million (about Rs 1,480 crore) to companies manufacturing and distributing medicines, and other items needed to combat the novel coronavirus (COVID-19)

ADB to provide $4 million to member countries to contain coronavirus outbreak
Business

ADB to provide $4 million to member countries to contain coronavirus outbreak

The Asian Development Bank has approved a further $2 million to help developing countries in Asia and the Pacific contain the outbreak of the novel coronavirus

Why Union Budget 2020 is an opportunity for govt to demonstrate its intent to rebuild economic policy credibility
Business

Why Union Budget 2020 is an opportunity for govt to demonstrate its intent to rebuild economic policy credibility

Union Budget documents show that from FY17 to FY20, capital expenditure allocation went up by 18 percent over four years; revenue expenditure went up by 45 percent in that same period: nearly 2.5 times more

Sensex spurts over 170 points, Nifty above 11,900-mark in choppy trade amid easing oil prices; NTPC, Tech Mahindra among top gainers
Business

Sensex spurts over 170 points, Nifty above 11,900-mark in choppy trade amid easing oil prices; NTPC, Tech Mahindra among top gainers

In the Sensex kitty, NTPC was the top gainer, spurting 2.77% rise, followed by ONGC, Tech Mahindra, Kotak Bank, TCS, Asian Paints, IndusInd Bank and Tata Motors, which gained up to 2.28%.

ADB trims India's GDP growth forecast to 5.1% in current fiscal; says consumption affected by slow job growth, rural distress
Business

ADB trims India's GDP growth forecast to 5.1% in current fiscal; says consumption affected by slow job growth, rural distress

The Asian Development Bank (ADB) on Wednesday trimmed its forecast for India's economic growth in 2019-20 to 5.1 percent saying consumption was affected by slow job growth and rural distress aggravated by poor harvest

ADB sharply cuts India's GDP growth forecast to 6.5% for FY20, citing decline in manufacturing, investment
Business

ADB sharply cuts India's GDP growth forecast to 6.5% for FY20, citing decline in manufacturing, investment

The Asian Development Bank on Wednesday sharply cut India's growth forecast to 6.5 percent for the current fiscal, weighed down by the GDP growth rate dipping to a six-year low in the first quarter

ADB president Takehiko Nakao resigns, to continue in office till January next year
Business

ADB president Takehiko Nakao resigns, to continue in office till January next year

Asian Development Bank (ADB) on Tuesday said its President Takehiko Nakao has announced his resignation which will be effective from 16 January next year

RBI's fund transfer to govt will help stimulate economy, says ADB President Takehiko Nakao
Business

RBI's fund transfer to govt will help stimulate economy, says ADB President Takehiko Nakao

ADB President Takehiko Nakao on Thursday said the transfer of Rs 1.76 lakh crore surplus from the RBI to the government is an "appropriate policy" and help in stimulating the economy

ADB cuts India's GDP growth forecast to 7% for FY20; retains fastest growing major economy tag
Business

ADB cuts India's GDP growth forecast to 7% for FY20; retains fastest growing major economy tag

Asian Development Bank (ADB) on Thursday lowered the growth forecast for India from 7.2 to 7 percent for the current fiscal, due to moderation in growth prospects for the advanced economies which could adversely affect tradable services