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Positive Movement on NK,
Many Hurdles Remain
(March 19, 2007)
The United States (U.S.)
and North Korea (NK) seem
to have resolved a dispute
over $25 million of frozen
funds, a key point that
stopped the progress in
negotiations to dismantle
the NK nuclear weapons
program.<More>
China's Non-Energy Focus
(March 19, 2007)
Beijing promised to
transform itself from a
high energy consumer to
sustainable development
practices to reduce the 15
per cent of the world
consumption rate to
contribute 5.5 per cent of
the global gross domestic
product (GDP).<More>
Govt Panicking on Wheat
(March 19, 2007)
In a series of moves that
includes undue hikes in
procurement price and
import plans despite strong
forecasted production, the
government is sending
messages that it is
anticipating large
shortages in wheat.<More>
China's Lunar Satellite
(March 19, 2007)
According to the Commission
of Science Technology and
Industry for National
Defence (COSTIND), China is
apparently ready to launch
its first lunar satellite
in September and forms the
first step in its three
phase moon program.<More>
U.S. Trade Court Dismisses
Shrimp Anti-Dumping Charges
(March 19, 2007)
In a significant loss for
U.S. charges of
anti-dumping against Indian
shrimp exporters, the U.S.
Court of International
Trade (CIT) dismissed US
Bureau of Customs Border
Protection (CBP) directives
for bonds matching the duty
as security.<More>
Textile Exports to Double
(March 19, 2007)
With the abolition of the
quota system in developed
nations and development
subsidy of Rs, 942 crore (USD
214 million), the Federal
Minister of State for
Textiles E V K S Elangovan
estimated that the textile
exports will double in the
next three years.<More>
NABARAD Bonds Worth Rs.
5000 cr
(March 19, 2007)
The National Bank for
Agriculture and Rural
Development (NABARD) plans
to raise Rs. 5000 crore (USD
1.13 billion) through
capital gains bonds to
provide refinance to
cooperative institutions
for stepping up farm and
rural credit.<More>
SEZs Exports Nearly USD 5B
(March 19, 2007)
The Industry and Commerce
Ministry has projected
exports from 63 Special
Economic Zones (SEZs)
operational since February
2006 to be about Rs. 21,631
crore (USD 5 billion) out
of an investment of Rs.
13,435 crore (USD 3
billion).<More>
Reliance and Nova Talk JV
(March 19, 2007)
Reliance Industries (RIL)
Group is apparently talking
to USD 6.5 billion U.S.
based plastics and
petrochemicals major Nova
Chemicals about a joint
venture (JV) that would
include product swaps and
infrastructure sharing.<More>
The Britannia Breakup
(March 19, 2007)
Collaboration between
Groupe Danone and Wadia
family owned Bombay Dyeing
in running Britannia India
and Wadia BSN is dead and
the entities are breaking
up these companies to
settle accounts.<More>
Heidelberg in Gujarat
(March 19, 2007)
World's fourth largest
cement maker, German
company Heidelberg Cement
said that it is planning a
two million ton cement
plant in Gujarat to augment
the 3.5 million tons it
already produces in India.<More>
Iran Stalemate Intensifies
With More Sanctions
(March 15, 2007)
So called permanent U.N.
powers and Germany, weary
of Iran's hardening
position on its nuclear
program, agreed "in
principle" on a new set of
sanctions on Tehran for
continuing to defy world
demands to abandon its
enrichment program.<More>
Ore Export to China Hit
(March 13, 2007)
Responding to concerns
from environmental groups,
domestic steel businesses,
and manufacturing houses,
the federal government had
imposed an export duty of
Rs. 300 per ton but
Chinese importers are
boycotting Indian ore
demanding exporters absorb
the duty.<More>
Largest NATO Offensive in
Afghanistan
(March 13, 2007)
The North Atlantic Treaty
Organization (NATO) troops
launched its largest
operation since 2001
against a resurgent
Taliban specifically
targeting drug lords and
rebel leaders in the opium
heartland Halmand Province.<More>
Wal-Mart and Bharti Plan 3
Retail Brands
(March 13, 2007)
U.S. retail major Wal-Mart
and Bhrati Group are
planning to use three
brand names and store
formats for the Indian
market including a cash
and carry, front-end
retail outlets, and
franchisee-owned stores.<More>
Glenmark's Expansion in
Brazil
(March 13, 2007)
Glenmark Pharmaceuticals
is planning to double the
production capacity and
headcount of its
manufacturing unit in
Brazil in two years and
use this production to
reach South American
markets.<More>
Toshiba-L&T in Power
Generation
(March 13, 2007)
Japanese conglomerate
Toshiba Corp said it is
talking to Larsen and
Toubro (L&T) Ltd to start
a joint-venture to make
equipment specifically for
and create new coal-fired
power generation plants.<More>
Largest NATO Offensive in
Afghanistan
(March 13, 2007)
The North Atlantic Treaty
Organization (NATO) troops
launched its largest
operation since 2001
against a resurgent
Taliban specifically
targeting drug lords and
rebel leaders in the opium
heartland Halmand
Province. <More>
Chola's Overseas Fund
(March 13, 2007)
DBS Chola Mutual Fund
plans to launch a scheme
to invest exclusively in
overseas assets to allow
investors to spread their
risks better and reduce
country risk and this fund
provides a unique
opportunity to Indian
investors.<More>
Teleradiology in Singapore
JV
(March 13, 2007)
Bangalore based
Teleradiology solution
announced a joint venture
with Singapore 's National
Healthcare Group (NHC)
where Teleradiology will
tap global market through
NHG which in turn will tap
Teleradiology for manpower.<More>
Germany, Singapore Take
Stake in BSE
(March 13, 2007)
Deutsche Börse and
Singapore Exchange Ltd. (SGX)
have negotiated minor
stakes in Bombay Stock
Exchange Ltd. (BSE) that
is seen as positioning the
nation better in a
global-economy.<More>
Pak Alienating Neighbors,
World Powers
(March 12, 2007)
Despite signs of souring
relations with Tehran and
strained relations with
Washington, Pakistan has
asserted that it will not
allow its territory to be
used by the U.S. for
anti-Iran operations.<More>
Child Welfare Continues to
be Neglected
(March 12, 2007)
Despite children forming
one-third of India's
population and continued
independent reports on
their neglected state,
programs that hope to
prevent and protect their
rights received a paltry
allocation of Rs. 90 crore
(USD 20 million).<More>
Medicine Abuse Rising in
India
(March 12, 2007)
A recent United Nations
International Narcotics
Control Board report
expressed concern over the
rise in the use of cocaine
and excessive abuse of
painkiller and cough
syrups medicines.<More>
Moon Mission on Track
(March 12, 2007)
The federal government
sanctioned Rs. 100 crore (USD
22 million) for the
Chandrayaan-I project that
will see the Polar
Satellite Launch Vehicle (PSLV)
launch the spacecraft 100
kilometers from the Lunar
orbit in March 2008.<More>
BMW from Chennai by March
(March 12, 2007)
BMW India announced plans
to roll out its first car
(BMW 320ia) from the
Chennai manufacturing hub
by the end of March and
also disclosed plans to
manufacture the 5 series
from India.<More>
Maxis Budgets Rs. 2000
Crore
(March 12, 2007)
Malaysian company Maxis
Communications owning 74
per cent stake in mobile
telecommunications
operator Aircel Cellular
plans to invest Rs. 2000
crore (USD 454 million)
and reach eight million
subscribed in 2007-08.<More>
Indians Buying Malaysia
Property
(March 12, 2007)
About 700 rich Indians,
businessmen, and film
stars seem to buying
property for residential
properties in Kuala Lumpur
after Malaysian Government
modification of rules
regarding foreign
ownership of property in
December 2006.<More>
India No. 2 Investor in
Bavaria
(March 12, 2007)
According to foreign trade
and location marketing of
German state of Bavaria
Thies Claussen, India may
soon assume the second
largest foreign investor
in the state known for
technology and industry.<More>
Jindal's Bolivian Steel
Plants for USD 2.1B
(March 12, 2007)
Steel major Jindal Steel
and Power Ltd (JSPL)
announced agreements with
Bolivia to invest USD 2.1
billion to set up a six
million tonne sponge iron
plant, 10 million pellet
plant, and 1.7 million ton
steel plant.<More>
India Set to Become No 2
in Telecom
(March 12, 2007)
According to
Telecommunications
Minister Dayanidhi Maran,
India will overtake the
U.S. and assume the second
position in subscriber
terms in 20 months.<More>
Essar Looking at Minor
Stake in Libyan Oil
(March 12, 2007)
The Essar Group is looking
to pick up a minor stake
of 20 per cent in Phoenix
Libya, oil and gas field,
with rights to increase
stakes to 50 per cent.<More>
US State of Georgia Trade
Office in Bangalore
(March 12, 2007)
The U.S. State of Georgia
is planning to extend
trade office by Fulton
County and set up a
full-fledged trade office
in Bangalore to find new
markets for Georgia-made
products, attracting new
investments, and promoting
tourism.<More>
Suzlon Buys REpower for
€1.02B
(March 12, 2007)
World's fifth largest wind
turbine marker Suzlon
Energy outbid French Areva
offer by 20 per cent to
buy Germany-based REpower
Systems on an all-cash
deal worth €1.02 billion
along with Portugal's
largest builder Mota Engil.<More>
Next Terror Attack on U.S.
From Pak
(March 06, 2007)
As the first
India-Pakistan Joint
Mechanism on Terrorism (JMT)
concluded its first
meeting at Islamabad, the
most anti-India
organization, the
Lashkar-e-Toiba (LeT)
seems to be operating with
impunity and continues to
spew venom on the
peace-process.<More>
IAEA Cannot Certify
Iranian Program "Peaceful"
(March 06, 2007)
International Atomic
Energy Agency (IAEA)
Director Mohammed El
Baradei reported that his
agency "cannot provide the
required assurance about
the peaceful nature of
Iran's nuclear program."<More>
India Rises on "Positive
Influence"
(March 06, 2007)
A survey by BBC World
Service radio of 28,000
people in 27 countries
found Japan, France, the
European Union and Canada
to have the most positive
influence while India was
the only nation to have
vastly improved its global
stature last year.<More>
Multi-Nation Naval
Exercise in Pak
(March 06, 2007)
The Pakistan Navy is
hosting a 27-nation naval
exercise that includes
ships from Britain,
France, China, Malaysia,
and Bangladesh as part of
the AMAN 07 exercise in
the North Arabian Sea.<More>
Indo-Sino Tourism Expected
to Rise
(March 06, 2007)
Indian and Chinese tour
operators are offering
special tour packages and
expect a 15-20 per cent
jump in outbound travel.<More>
Sunni-Shia Consensus?
(March 05, 2007)
Iranian hard-line
President Mahmoud
Ahmadinejad and Saudi King
Abdullah bin Abdulaziz
have reportedly agreed to
stem increasing rift
between Sunni and Shia
Muslims that is dragging
West Asia into crisis.<More>
Massive Increase in China
Defense Budget
(March 05, 2007)
Ahead of the National
People's Congress (NPC),
China revealed a new
defense budget that was
17.8 per cent or USD 45
billion higher that last
year raising fears in
Western and neighboring
capitals on its
motivations.<More>
Indo-Pak Anti-Terror Meet
(March 05, 2007)
India and Pakistan will
meet for the first time in
Islamabad to further the
anti-terror mechanism
devised on the sidelines
of the NAM summit in
Havana (Cuba) in September
2006 and after it was
formally construed last
November.<More>
Naxals Kill JMM MP
(March 05, 2007)
Suspected Naxal terrorists
shot dead a Jharkhand
Mukti Morcha (JMM) Lok
Sabha Member of Parliament
Sunil Kumar Mahato, two
security guards, and a
party secretary.<More>
Canadian Animation Tie-up
with Indian Schools
(March 05, 2007)
Canadian technical
institutes seemed to have
noticed a sharp shortage
of skilled manpower to
work on computer animation
in India and are tying up
with Indian animation
schools to offer their
courses.<More>
India is Pneumonia Capital
(March 05, 2007)
A World Health
Organization (WHO) and
United Nations Children's
Fund (UNICEF) reported
that India has 44 million
pneumonia cases making it
the pneumonia capital of
the world.<More>
WB, Orissa, Assam Most
Hungry
(March 05, 2007)
A recent survey of
household consumer
expenditure in India by
the National Sample Survey
Organisation (NSSO) for
the period July 2004-June
2005 found that West
Bengal, Orissa, and Assam
have the most households
without enough food.<More>
Moon Mission Progresses
(March 05, 2007)
With higher allocation of
funds for space research,
Indian space scientists
have started integrating
satellites for the moon
mission Chandrayaan-1
which is a scientific
investigation spacecraft.<More>
China, Sri Lanka Deal to
Develop Hambantota
(March 05, 2007)
Sri Lankan President
Mahinda Rajapakse visited
China and signed a
landmark deal allowing
Beijing to develop a
harbor, bunkering system,
and tank farm in
Hambantota district in a
"friendship city
relationship.<More>
U.S. Prelim Anti-Dumping
Duty on Shrimp
(March 05, 2007)
The U.S. Department of
Commerce announced
preliminary anti-dumping
duty (averaging 10.54%) on
shrimp from India, China,
Vietnam, Brazil, Ecuador,
and Thailand.<More>
Malaysia Expects 400K
Indian Tourists
(March 05, 2007)
As part of its "Visit
Malaysia Year 2007,"
Malaysia is pitching for a
25 per cent rise in
tourists from India to
reach 400,000 this year
using easier visa regimes,
prizes, and shopping
discounts.<More>
UK Bank to Close Direct
Interface Call Center
(March 05, 2007)
The United Kingdom's
largest consumer loan
provider, Lloyds TSB
Group, has capitulated to
domestic union and labor
demands to stop off
shoring activities to
India and closed its
direct interface
operations.<More>
India Willing but Cautious
on WTO
(March 05, 2007)
In a one-to-one meeting,
Minister for Commerce and
Industry Kamal Nath has
reportedly told his
European Union counterpart
Peter Mandelson that India
is willing to restart the
stalled Doha Round but is
unwilling to rush into a
deal.<More>
US Tech Spending from
India to Increase
(March 05, 2007)
A Deloitte survey reported
that the U.S. will
increase its technology
services procurement from
India and China over the
next three years with
banks leading increasing
its spend of 6% of annual
IT spend of USD 44 billion
to 30% by 2010.<More>
Essar Negotiating 20%
Stake in Libyan Oil Field
(March 05, 2007)
The Essar group is
negotiating with Phoenix
Libya (a subsidiary of
Phoenix AG) to buy 20
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