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17Nov By Press Trust of IndiaNo Comments

CHINA

China FDI – $98 Billion in Ten Months, 600 Companies Invested Over $100 Million

FDI in China rose 4.2 percent year on year to reach around USD 98 billion in the first ten months of the year with service sector attracting massive investments, unlike manufacturing which suffered over capacity, official data said today. The growth rate is unchanged from the January-September period, according to the Ministry of Commerce. The service industry continued to attract massive foreign investment from January to October, said Tang Wenhong, head of the ministry's foreign investment division. The FDI rose 4.2 percent to reach 666.3 billion yuan during initial ten months. In the service sector, which accounted for 70.7 percent of all investment, FDI increased 9.1 percent year on year during the period. In particular, FDI in high-tech services skyrocketed 90.2 percent from a y...

Delhi Govt Launches App For Traders

In order to ensure ease of doing business in the national capital, Delhi government today launched a mobile app for traders to register under the Trade and Taxes Department under which there will be no need for verification of their business premises. The Trade and Taxes Department of the government today issued a circular introducing a new facility for the city traders in the capital. Traders can register themselves with the department through the mobile app DVATMsewa -- giving basic information like name, Aadhaar number, date of birth, mobile number and residential address. The app can be downloaded from Google Play Store. "Traders, whose annual turnover is more than Rs 20 lakh, can register themselves with trade and taxes department through the mobile app without any verifi...

Harbhajan Singh to invest in Sri Lanka

Harbhajan met Finance Minister Ravi Karunanayake in his office and discussed investment opportunities in Sri Lanka. The star Indian spinner Harbhajan Singh is to invest in Sri Lanka, the Ministry of Finance announced on Wednesday. Harbhajan met Finance Minister Ravi Karunanayake in his office and discussed investment opportunities in Sri Lanka. The Ministry quoted Harbhajan as saying he was looking forward to invest in Sri Lanka given the long standing friendly relations between the two countries. Karunanayake had stressed that his 2016 budget approved in parliament early this week encourages foreign direct investment and Harbhajan's expression of interest was a justification of the budget policy goals on investment.