ASEAN Unified Market by 2015
To stave off competition from India and China, Economic Ministers of the Association of South East Asian Nations (ASEAN) adopted urgent measures and advanced deadlines to develop a unified and integrated market by 2015.<More>

ONGC Proposes to Buyout Sakhalin-I
With the Iran-Pakistan-India and Myanmar-Bangladesh-India pipelines not making progress, the Oil & Natural Gas Corporation (ONGC) is proposing to buy the entire gas supply from the Russian Sakhalin-I field and import the gas as in liquefied form.<More>

Grid Synchronized with Power from Bhutan
Power Grid Corporation of India Ltd (PGIL) announced that it has successfully synchronized the north, east, north-east, and western grids to allow free flow of electricity across one of the largest power grids in the world including carrying power from Bhutan. <More>

Iran Proposes Talks to Resolve Stalemate
Iran once again reiterated its willingness to negotiate a way out of the impasse over its controversial nuclear program but the US said that while it would study the Iranian counter proposal to the EU offer, it is prepared to move with or without the UN.<More>

First Indo-Russian Joint Study Group on Trade
Indian and Russian trade experts are meeting this week to explore and discuss options that will remove bilateral trade blocks to achieve a USD 10 billion trade and lead to a Comprehensive Economic Cooperation Agreement (CECA). <More>