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Hyundai excites again Celebrating 180 years of relevance Rating of states to be released soon Investor friendly Japan Curbing steel imports will hurt small business... Adding Zest to Scooty Techies trip to India Automotive Vision Plan II... LVB gears to become a financial supermarket TOP 10 CEO Compensation AirAsia India infuses funds to fight out competition ISRO's 100th mission Nothing to hide... - Inclusive and forward moving... Indian Bank – global businesses crosses Rs 3 lakh crore... Research needs more funding Brand leaders come forward... Changing dynamics in human resource management Chola MS launches motor app An American alliance in the chemical industry? Four daughters and a proud father Holiday Inn opens in OMR Chennai Pharma market dozes Ridley marathon to India Celebration time at MS Chola Connecting the unconnected People Flow Day- Safety Airlines wage price war TII-challenging year with flat growth Well-refined – RIL’s refinery margins zoom Chennai will soon get its World Trade Centre Indigo stays leader with 40 per cent share SumInfra- corridor based development... Downsizing spree... Chola MS net crosses 100 crores Focus on self-certification and third party inspection On the ‘milky’ way A global plastic event in India Time to fast-pace the logistics sector TN budget pragmatic and moderate on fiscal deficit Veritas Finance- financing the unfinanced Apple maps – finding its way Striking cords for 25 years… Business Breif The new look- 4s Verna Flexible labour laws… An aerospace-defence cluster in Tamil Nadu… Placing the right shoe forward... Big-ticket investments march towards Punjab Smart controls for cooling large multi-zone spaces ... Waste, a gold mine Industry-well poised to invest on expansion ALL – truck industry is recovering from degrowth Dynamic e-commerce scenario Backpack laboratory Murugappa- a year of consolidation Realising double digit growth in Tamil Nadu Innovation that helped Chennai port ECGC expands operations ALL-two launches in a row Auto test tracks launched at GARC Oragadam campus WABCO’s second Chennai plant Bridging the skill deficit in pharma industry World labour laws at a glance CUB: towards card-less withdrawal TCS’ revenues cross Rs 100,000 crore European crisis is a global crisis! Gem of social service... Need to focus on ease of doing business... Blue Star plans a new plant in south Reality bytes Sun Edison launches solar pumps Steel loses its sheen Creating Tamil Nadu Banana brand Economic issues take a back seat at G20 summit Business Briefs When Centre visits the state Chennai to get a roundabout Metro Scoot offers just Rs.13,500 to ANZ... Strategy war escalates between Hero and Honda Schwing Stetter India joins hands with US-based Gomaco TII’s single largest investment at Thiruthani BRICS development bank Nigeria comes nearer IFCI to raise NCDs upto Rs 2000 crore ALL to launch electric busses Climate change may change the way businesses work... Housing Innovation Challenge, 2015 Digital retail transactions stabilise at higher level… STFC raises money Tata Steel commence operations at Kalinganagar Applauding enterprise... TiE applauds innovative entrepreneurs Secured NCDs from Shriram City OBO Bettermann for better lightning protection Hero Motocorp - smooth ride Illicit markets a concern to growing economy Carrefour’s quick exit Towards peace of mind Economic, business and social sustainability Is Indian telecom industry heading for a monopoly? Three more leather clusters… Durga - India’s largest blast furnace; now operational Purdue and IIT-M sign the dotted line Realty sector takes a break... More gensets and diesel engines from TAFE Make way for the new and dynamic railways Chennai Port is at last decongested! TVS Logistics – another acquisition to sharpen the business model
 
BRICS development bank

The sixth summit of the BRICS at Fortaleza, Brazil, concluded with commendable  results for India. After lengthy negotiations, the bloc finally announced the plan to set up a $100bn development bank as a step to create a stronger presence globally. The bank will have a capital of $50bn, contributed equally by the five nations. Also, an emergency reserve fund of $100bn is to be made with major contribution from China (41 per cent), whereas, India, Russia and Brazil will pool in $18bn each and South Africa, the rest.

What will go down in the annals of India’s history is that the first president of this development bank will be an Indian. This comes at a very apt time with Modi government just stepping at the helm. Not only will it provide infrastructure assistance and funding in case of revenue deficiencies, but also give India a strategic importance across the globe. With headquarters in Shanghai, this miniature IMF model will start lending by 2016.

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