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Emerging BRICS create own development bank

Brazil President Dilma Rousseff, right, speaks during the BRICS 2014 summit in Fortaleza, Brazil, Tuesday, July 15, 2014. The leaders of the BRICS nations are meeting in Brazil for a summit where they are expected to officially create a bailout and development fund worth $100 billion. It's meant to be an alternative to the World Bank and the International Monetary Fund, which are seen as being dominated by the U.S. and Europe. AP/Silvia Izquierdo

The leaders of five emerging market powers said at a summit Tuesday that they gave final agreement to creating their own development bank worth $100 billion that will have its headquarters in China.

Posted: July 16th, 2014 in Featured Gallery,Latest Business Stories,Photos & Videos | Read More »

Emerging nations plan their own World Bank, IMF

In this Sept. 5, 2013 file photo, from left, Brazil's President Dilma Rousseff gestures to then Indian Prime Minister Manmohan Singh, Russia's President Vladimir Putin, China's President Xi Jinping and South African President Jacob Zuma, as they gather for a group photo after a BRICS leaders' meeting at the G-20 Summit in St. Petersburg, Russia. AP

Fed up with U.S. dominance of the global financial system, five emerging market powers this week will launch their own versions of the World Bank and the International Monetary Fund.

Posted: July 15th, 2014 in Latest Business Stories | Read More »

ICTSI ends India port contract

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Businessman Enrique Razon Jr.’s International Container Terminal Services Inc. (ICTSI) is ending a port-management deal in Tamil Nadu, India, that it bagged in 2011, saying the contract “isolated” it from day-to-day operations, hindering the growth of the business.

Posted: July 8th, 2014 in Headlines | Read More »

AirAsia sparks fare war with first India flight

Screengrab from http://www.airasia.com/in/en/home.page

Asia’s biggest budget carrier AirAsia is set to make its maiden Indian flight this week, fuelling a cut-throat fare war in a sector already reeling from losses.

Posted: June 8th, 2014 in Featured Gallery,Latest Business Stories,Photos & Videos | Read More »

China, India and professionals

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Only 7.9 percent of family businesses in China have hired professionals in key positions like president or general manager, says the first Chinese Family Business Development Report in 2011, published in “People’s Daily Online.”

Posted: May 2nd, 2014 in Columnists,Featured Columns,Inquirer Columns | Read More »

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