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Business & Economy
Pipeline runs into
US speed-breaker
What is India News Service,
Thursday, 10 March 2005, 1300 hrs IST
Ahead of Petroleum Minister Mani Shankar Aiyar's visit to Islamabad for trilateral talks on the proposed Iran-India gas pipeline, Washington has officially
conveyed to New Delhi that it continues to have serious concerns on Tehran and can't foresee how events there will shape up.
The veiled message_from US Ambassador David Mulford to Aiyar_is the first communication from the US on the $ 4.16 billion pipeline project and was personally conveyed soon after the Cabinet gave Aiyar the mandate to go ahead with talks last month.
Sources said that Mulford left his statement open-ended without giving any suggestion on how India should react to his country's concerns on Iran. The message is likely to be replayed when Secretary of State Condoleezza Rice visits India on March 16. Rice will leave for Pakistan the next day.
Mulford is learnt to have told Aiyar that Washington was facing serious difficulties with Iran on its nuclear weapons programme and there was no solution in sight to end the imbroglio. Apparently, Mulford indicated that the problem was heating up and that the issue was being seriously focused on by the US Government.
Iran has rejected a standard international `supply-or-pay' condition for delivering gas through the proposed $4.16 bn Iran-India pipeline.
Sensex touches new peak:
Riding high on unabated foreign institutional investment inflows, the 30-share Bombay Stock Exchange sensitive index (Sensex) today once again hit a new all time peak of 6954.86 in early trade before ending 22 points down.
Kokilaben holds one-on-one meet with sons: Kicking off the process for a possible settlement of ownership issues within the Reliance empire, Kokilaben, widow of the mega group founder Dhirubhai Ambani, has started consultations separately with her warring sons Mukesh and Anil on the basis of a valuation report submitted to her by ICICI bank chief and family friend KV Kamath.
Petrol, diesel prices review on cards:
Even as the world oil prices touched a high of $55 a barrel today, there are reasons to believe that the Government may soon review the domestic prices of products such as petrol and diesel that have been frozen since November ...
Cash withdrawals: 'Small tax' won't flush out big fish:
It is over a week since Finance Minister P Chidambaram unleashed the spectre of yet another "small" tax on income at the time of cash withdrawal. Incredulous market pundits continue to await a feasible rationale behind this blatant ruse to shore up the Exchequer.
G-Hanz Sampo to enter Indian market: Eyeing the growing electronics and home alliances market in India, particularly the niche segment, Taiwan's leading white goods company, Sampo Corporation,
is planning an India foray.
MTNL demands ADC from
Rel-Info: Mahanagar Telephone Nigam Ltd has asked Reliance Infocomm to pay its dues of about Rs 200 crore by March 12, failing which it would disconnect the private operator from its network.
Bajaj set to zoom with
gen-next: As Rahul Bajaj handed over the reigns of his company, on Wednesday, to two of his able sons Rajiv and Sanjiv Bajaj. We in this article bring to you the dynamism and the passion with which the two sons have planned to zoom into the two wheeler segment.
Accenture to move more functions to India:
With over 10,000 of its global workforce located in India, Accenture has focussed itself on making the offices here the "essential hub'' for its global delivery model in the realm of business process outsourcing (BPO) and IT.
BoP, Western Union start road show:
Bank of Punjab Ltd along with Western Union Financial Services, today embarked on a 15-day road show, starting from Jalandhar. Covering mainly the villages of Punjab, the aim is to bring about awareness of the advantages of receiving Western Union money transfers in a safe and efficient environment that the Bank of Punjab provides.
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