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 What Is India News Service Tuesday, March 20, 2007

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Not by GDP alone, says the President

President A. P. J. Abdul Kalam for a healthier and happier "National Prosperity Index" distinct from Gross Domestic Product (GDP) was growing at nearly 9 per cent per year, the economic growth as parameter to measure growth.

Afghanistan's silent plague of AIDS

Long cloistered by two decades of war and then the strict Islamic rule of the Taliban, Afghanistan was for many years shielded from the worst ravages of the AIDS pandemic.

Russia reportedly exits Iran nuke site

Russia is pulling out its experts from the Iranian nuclear reactor site they were helping build.

* * *

India, UAE sign MoU for increasing air traffic
India and the United Arab Emirates have agreed to expand air traffic between the two countries, allocating 18 additional flights from Abu Dhabi.

Rural Employment Bill gets LS nod
A bill to extend the National Rural Employment Guarantee Act to Jammu and Kashmir was approved by the Lok Sabha.

Global warming action may curb nightmare impacts
Cuts in emissions of greenhouse gases can mute the worst impacts of global warming, such as water shortages for billions of people or extinction of almost half of Amazonian tree species, a draft UN report shows.

Israelis stage civil defense exercise
Over the course of the two-day drill, thousands of Israeli police, soldiers and rescue crews were to respond to simulated assaults on seven different locations, including a rocket attack on a Tel Aviv power station.

Musharraf admits to mistakes
Five judges handed in their resignations on Monday in protest against the ouster of Pakistan Chief Justice Iftikhar Chaudhary, and President Pervez Musharraf admitted that the Government had made some "mistakes" in handling the situation.

Ire over extortions by Maoists
Over 70 business organisations, including the Federation of Nepalese Chamber of Commerce and Industries, have announced indefinite closure of businesses in Nepal in protest against the "continued extortion and intimidation" by the Maoists.

LTTE base attacked
Air force jets pounded a "well-identified" Sea Tiger base in the Jaffna district located on a remote beachhead.

China to use own technology to expand rail network
China plans to rely more on its own designs and technology as it expands the world's third- longest rail network.

Dragon land cools investment, fails to tame trade surplus
China’s third interest-rate increase in 11 months may slow import growth, risking tensions with Europe and the US over its swelling trade surplus

Lok Sabha passes bill for CST phase out
The Lok Sabha today passed the bill to cut Central Sales Tax (CST) by one percentage point annually starting from April 1 this year.

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Ancient Indian dynasties documented their administration,
significant developments, grants, and milestones as inscriptions
in temples. The Archaeological Survey of India (ASI) has documented
these inscriptions from 1886. These pages contain inscriptions from
Pallava, Chola, Pandya, Western Chalukya, Eastern Chalukya,
Rashtrakuta, Hoyasala, Vijayanagara, Vishnukundin, Kakatiya,
Reddi, Vaidumba, Chinda, Eastern Ganga, Gajapathi, Kalchurya,
Qutb-Shahi of Golkonda, and Moghul, dynasties.

Recent Editorials

Rural telephony to ring in money for Govt from operators
Rural telephony has become so lucrative that some of the operators are willing to give money to the Government to offer services in villages than take subsidy from the Universal Services Obligation fund.

Govt may sell residual stake in Maruti next fiscal
The Finance Minister, Mr P. Chidambaram was quoted to have said that the sale of residual Government stake in Maruti Udyog is likely in the next financial year.

Steel industry for quantitative curbs on iron ore exports
Steel manufacturers demanded placement of quantitative restrictions on the export of iron ore to preserve mineral wealth.

German co's arm to foray into processing fruits
Doehler India Pvt Ltd (DIPL) is making its first foray into processing fruits in India and is targeting pomegranates and alfonso mangoes for this pilot project.

Stone India bags China order for wagon air brakes
Stone India Ltd has announced that the company has received an initial order for supply of 100 sets of wagon air brake systems to a Chinese wagon builder.

ONGC Getting Ultra-Deepwater Rig
Taking a cue from the continuing rig crisis and the resultant impact on drilling plans, ONGC is considering acquisition of an ultra-deepwater rig.

Wells Fargo may set up back-office in India
US-based financial services major Wells Fargo, which has set up an information technology and business process outsourcing facility in Hyderabad, is looking at locating back office processes, other than call centres, in India.

Reliance to invest $12 bn in KG basin gas field
Reliance Industries (RIL), the country’s largest private company, is lining up investments of over $12 billion for production of gas from its fields in the Krishna-Godavari basin and distributing it to consumers across the country.

Dutch firm to buy 49% stake in CanBank MF
The Netherlands-based Robeco Groep NV, part of the European banking major Rabobank Groep, will buy 49 per cent stake in Canara Bank's asset management arm.

Ranbaxy in Lipitor patent suit with Pfizer in 17 countries
India’s largest drug-maker Ranbaxy has locked horns with the US-based world’s largest drug-maker Pfizer in 17 countries over infringement of patent of the latter’s blockbuster cholesterol lowering drug Lipitor.

Spice plans to piggyback Telekom Malaysia’s ILD network
Spice Telecom, which is close to receiving both national and international long distance licenses, is looking at riding on Telekom Malaysia's ILD infrastructure to tap this market.

Offshoring losing cost advantage: study
Labour cost advantage associated with offshoring information technology services to countries like India, China and the Philippines, are declining.

GAIL to join hands with China Gas
State-run utility Gas Authority of India Limited (GAIL) is all set to join hands with China Gas Holdings to undertake cooperation in various projects.

Iron ore exports surge despite levy
Iron ore exports are projected to surge 34% in March despite a tax of Rs 300 a tonne imposed by finance minister P Chidambaram on February 28.


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