UAE Pledges
Worth $50 Billion for India, Provisional pledges could come as soon as early
next year, Investments could boost Modi’s image ahead of 2024 elections
The United Arab Emirates is considering
investing as much as $50 billion in India, its second-largest trading partner,
as part of a broader bet on the world’s fastest-growing major economy.
No Nation in the
World Is Buying More Planes Than India.
While most Indians travel by road or rail, the
country is engaged in a major expansion of its aviation industry to serve the
needs of its middle class.
India Debut 50-Year Bond Fully Sold on Growing
Insurer Demand
India sold 50-year bond at 7.46% yield versus
7.48% estimate
India’s auction of the debut 50-year bond met with strong
demand Friday, underscoring growing interest from insurance and pension funds
for ultra-long papers.
The government sold 100 billion rupees ($1.2 billion) of
the 2073 bond as planned at a cutoff yield of 7.46%, the Reserve Bank of India
said in a statement. That’s lower than the 7.48% forecast in a Bloomberg
survey. Insurers probably lapped up the paper as they had expressed strong
interest before the auction to lock in higher yields to take care of long-term
commitments.
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