- Capitalism and Caste There’s emerging evidence of economic progress among the Dalits of Uttar Pradesh, supported by India’s rapid growth
- DoT may allow spectrum sharing Minister of State for Communication and IT, Jyotiraditya Scindia, has convened a meeting of senior officials in the DoT on 8 September to consider the proposal
- India to take up controversial letter on nuclear deal with US BJP and Left parties seized on the letter accuring the govt of hiding ‘facts’ and demanded an urgent session of Parliament to discuss the issue
- IDBI Bank mulls merger of home loan subsidiary In the event of a merger, the biggest challenge IDBI Bank would have to face will be on the human resources side
- Aviva Life to expand network The insurance form plans to increase its branch strength to 280 from the current 219 by the next calender year
- Reliance Money aims at Rs50,000 cr AUM The wealth management entity is currently managing assets of about Rs1,000 crore
- Microsoft seeks India patent for data snapshot generator The concept of the generator has been developed by Ramakrishnan Natarajan, an Indian associated with Microsoft along with Daniel C Battagin
- Cairn to invest $9.5m in Bangladesh gas field So far Cairn has invested about $1 billion in Bangladesh, including nearly $600 million in Sangu, which began producing gas in 1998
- Kamal Nath to lead SME delegation to Germany The minister would meet key German officials, representatives of industry associations and SMEs as well as investors, says CII
- Services sector to grow over 9.5% this year: CII However, major impediments to the sector’s growth included global economic slowdown, deceleration in the economy and shortage of talent and skills
- ICICI Lombard to offer product for natural calamities The company will soon offer catastrophe products for situations like Bihar floods
- No issue with DoT on 3G: Trai chairman Dismissing rumours of differences with the DoT over the 3G issue, saying the role of regulator and power of the Department were clearly defined
- India-assisted Ethiopian sugar factory project hits road block
- RBI may agree on release of inflation data on monthly basis The bank had opposed the release of inflation data on monthly instead of weekly basis whereas most of the other ministries and departments had supported the shift
- India-EU trade talks to resume ahead of Paris summit A team of negotiators from the Commerce Ministry, led by Additional Secretary Rahul Khullar would reach Brussels tomorrow for talks with the EU officials
- Bulls pin hope on N-Deal booster However, the continuing stalemate over Tata’s Nano plant at Singur in West Bengal could turn out to be detrimental for the domestic bourses
- Bhel to invest Rs1,400 cr in castings facility It has also formed a venture company with Heavy Engineering Corporation (HEC) to cater to the needs of castings and forgings
- Dow Chemicals to pump in billions of dollars in India The firm plans to eventually have a manufacturing operation in the country, particularly for specialty chemicals.
- Anant Raj to invest Rs4,300 cr to develop properties Company will focus on developing IT park, IT Special Economic Zones and hospitality projects across north India
- Kotak plans majority stake in Ahmedabad comex However, the group’s plans would depend to a large extent on the release of FMC guidelines for the regional exchanges
- Gold may shed Rs600 on weak global cues: Analysts The precious metal is likely to hover in the range of Rs12,000-11,100 per 10 gram in the week ahead
- RIL in world’s 100 most respected companies: WSJ The US has the largest representation of 38 companies, followed by 11 from the UK
- Indian economy may perform better in Q2: Barclays The global investment banker projected a growth rate of 7.5%for 2008-09 with risks tilted to the upside
- India’s nuclear isolation ends, NSG OK for nuke deal The US finally persuaded supplier nations to lift a 34-year-old ban on nuclear trade with India, following weeks of tough negotiations
- India hails NSG waiver as landmark External Affairs Minister Pranab Mukherjee says the decision will open a new chapter in India’s cooperation with other countries in peaceful uses of nuke energy
- Zardari elected Pakistan president Ruling Pakistan People’s Party chief Asif Ali Zardari secured 281 of the 436 votes cast by the two houses of parliament
- Zardari elected Pakistan president Ruling Pakistan People’s Party chief Asif Ali Zardari secured 281 of the 436 votes cast by the two houses of parliament
- Nuclear suppliers hold up US-India deal, say diplomats If Washington cannot secure an NSG exemption within days, the US Congress may run out of time to ratify the deal before it adjourns at the end of September for November polls
- Bears with umbrellas A cute but addictive browser-based game that is easy to learn but tough to master
- Markets factor in drop in coking coal prices The concern now is how long coke and coking coal prices may remain firm, especially given the likelihood that a slowdown in the global economy may result in a drop in demand from the steel industry
- Indiabulls’ retail push unravels amid big losses The company has shut four of its nine mega stores and fired several employees, including several executives
- China, Singapore conclude talks on free trade pact The trade agreement, China’s first with a neighbouring Asian country, covers trade, investment, travel, customs procedures and other related issues
- World’s richest got even richer last year: Report It was the sixth consecutive year of expanding wealth. The fastest growth was among households in developing regions, such as China and the Gulf States
- IMF establishes panel for needed reforms The move came three months after internal IMF auditors released a harshly critical report on governance and urged “major changes”
- Nissan launches first clean-diesel car in Japan It is the first diesel car in Japan in years for Nissan, which has been less enthusiastic than its domestic rivals in developing eco-friendly hybrid cars
- SKorea launches project to become Asian oil storage hub South Korea, the world’s fifth largest crude importer, also plans to build new storage facilities at Ulsan on the southeast coast
- London Taxi’s famed black cabs made in China London Taxi International, which couldn’t grow production at its small-scale, high-cost plant turned to China to partner them in driving overseas expansion
- Messages from the Middle Kingdom If the Bush administration’s stated aim is to get India into the nuclear fold so as to contain a rising China, then Beijing would certainly not want an increasingly powerful India
- Russia, Nigeria reach energy cooperation deal Gazprom said in a statement that the accord with Nigeria’s national oil company covers exploration and production of oil and gas
- Pakistan PM escapes gunfire on car: Officials Officials said Yousuf Raza Gilani was unhurt and brought to safety after the incident on the main highway leading into Islamabad
- Singur evokes criticism from western media “The country’s project to build the world’s cheapest car has driven into a quintessentially Indian ditch,” the New York Times said
- Russia to suffer economically and politically: Britain British Foreign Secretary David Miliband said Moscow is now more isolated and less trusted than it was a month ago
- Iran wants excess supply on OPEC agenda Iran wants oil supply to be proportionate to demand and control of excess supply and wants the issue addressed at the upcoming OPEC meeting
- UK government plans housing market rescue The govt will spend £1 billion reinvigorating the country’s ailing housing market, which is suffering from the worst crash since the early 1990s
- Japanese political crisis clouds economic outlook Whoever replaces Fukuda will inherit the same problems - a deadlocked parliament, a worsening economy, an ageing population and huge public debts
- Japanese Prime Minister Fukuda resigns The announcement came after the 72-year-old political moderate failed to turn around dwindling public support for his government despite reshuffling his cabinet
- Turkey slaps curbs on Russian imports in trade row Turkish exporters have been hit by delays at Russian border after Turkey allowed US ships to transit the Bosphorus Strait to provide aid to Georgia following Moscow military’s action
- Palin rakes in $7mn for McCain camp in a day The campaign raised millions by mail and phone in the first day after introducing Sarah Palin as McCain’s running mate
- Russia’s WTO bid in doubt as Georgia conflict stokes tensions Moscow has also hardened its attitude, with Prime Minister Vladimir Putin questioning whether membership is even worth it at all
- Russia wins some support from Tajik ally over Georgia Medvedev expressed thanks for understanding Russia’s position in defending its citizens in South Ossetia
- Days of rage in streets derailing Asia If South-East Asia is to stand its ground amid a potential US recession it needs more predictable and transparent government
- After Olympic success, China lights Paralympics torch Chinese premier Wen Jiabao lit the Beijing Paralympic flame at the ancient Temple of Heaven here, kicking off the torch relay
- German industry fears anti-Russia backlash by West Country’s exports to Russia rose by 23% in the first half of 2008, the largest increase among Germany’s major trading partners
- Climate talks accelerating, says UN The meeting in Accra “has provided the basis for real negotiations” in December
- Australia, Brazil for fast return to WTO talks Both countries said they would work to revive the talks before the US presidential election in November
- Beijing prepares for Olympic venues’ future Beijing built 12 permanent and 8 temporary new venues and refurbished 11 others at a cost of $1.9 bn and is now finding ways of recovering the cost
- Nawaz Sharif pulls party out of Pakistan’s ruling coalition The departure of his party is not expected to force a general election as Bhutto’s PPP should be able to gather enough support to govern
- Gold for Beijing Organizing Committee chief: IOC At the closing ceremony of the Beijing Games, Rogge thanked the people of China, BOCOG and the “wonderful” volunteers for their hard work and support for the Games
- Obama taps Biden to be running mate Across more than 30 years in the Senate, Biden has served at various times not only as chairman of the Foreign Relations Committee but also as head of the Judiciary Committee
- Russia says withdrawing troops from Georgia However, it will retain a military presence in two separatist regions and a buffer zone
- Nuclear exporters to discuss India trade ban The deal would reverse more than three decades of U.S. policy that has barred the sale of nuclear fuel and technology to India
- 153 killed in Madrid airline crash One engine of the Spanair MD-82 caught fire during the attempted takeoff from Madrid-Barajas airport on a flight to Las Palmas in the Canary Islands
- Trends in India’s merchandise trade with Asean India’s total trade with Asean has increased around fourfold in the last six years, from $9.8 billion in
- Sushil Kumar wrestles into medal tally, wins bronze He became the second Indian wrestler after K D Jadhav who won a bronze in the 1952 Helsinki Games to win an Olympic medal
- Japan signals key approval of India-US nuclear deal The country’s chief cabinet secretary Nobutaka Machimura said IAEA’s supervision of Indian nuclear facilities “can lead to the strengthening of the NPT”
- Pakistan parties to discuss Musharraf’s successor Besides discussing possible presidents and the judges, coalition leaders will discuss “the future plans of Musharraf”
- Web Special | Clintons’ battle a multi-million dollar campaign debt While Sen Clinton’s rival Barack Obama walks away with the democratic party’s presidential nomination, Clinton is left with a $20 mn plus campaign debt which she is struggling to pay off
- Akhil ousted in boxing quarterfinals Akhil could only manage to reduce the margin of loss by scoring just one more point in the fourth and final round but it was too little and too late for the Indian
- Pakistan’s Musharraf announces resignation Former army chief has seen his popularity slide over past 18 months, has been isolated since his allies lost a February election
- Musharraf gets 2-day ultimatum to step down Defence minister Ahmed Mukhtar has said ‘the chargesheet will be presented in parliament by Tuesday’
- India’s shooting campaign ends at Beijing Gagan Narang and Sanjeev Rajput failied to qualify for the finals of men’s 50 metre rifle three position in Beijing
- Maoist leader Prachanda to stand for PM The head of Nepal’s former rebel Maoists will stand in elections to become the country’s first post-royal prime minister
- Recession may grip Japan, but China shops hard Recent data from Japan and the euro zone have reflected a much larger negative impact than initially expected from the deteriorating US housing sector, credit crisis and surging oil prices
- Worldwide protests on eve of China Olympics Activists are using the Games to pressure Beijing over its rule of Tibet and heavily Muslim Xinjiang province, arrests of dissidents, Internet censorship and foreign policy
- Olympics: Beijing lives put on hold for opening ceremony Movie halls, gyms, fitness centres and shops pulled down their shutters as security officials took over Beijing’s streets
- US lawmaker writes to Rice, wants pact delayed Berman wants India to comply with US law that would suspend trade if India tests a nuclear weapon again
- Pakistan govt to begin Musharraf impeachment The foreign ministry announced that Prime Minister Yousaf Raza Gilani, instead of Musharraf, would attend the opening ceremonies for the Beijing Olympics
- Exiles try to rekindle hopes for change in junta-ruled Myanmar Pro-democracy leader Aung San Suu Kyi has been under house arrest for 12 of the past 18 years
- Not even the end of the beginning The financial squeeze on US consumers, alleviated during the second quarter, could worsen in the rest of 2008
- France’s Mediterranean experiment sure to fail The Mediterranean Union project of 43 countries attempts to do too much, with too few resources.
- US president urged to give Asia urgent attention Asia is home to more than 50% of the world’s population, produces more than 30% of global exports and controls a much larger share of the world’s savings pool
- Obama candidacy fails to paper over racial schism in US Nearly 70% of Blacks in a New York Times/CBS News poll said they had encountered a specific instance of discrimination based on their race, compared with 62% in 2000
- Sarkozy threat to block talks could scupper deal: experts The so-called Doha Round, which started at the end of 2001 in the Qatar capital, is to enter into a make-or-break series of meetings from 21 July
- Executives afraid to take holidays in case they lose jobs “Holiday paranoia” fuelled by redundancy rates doubling over the past year
- G-8: Bush to go green if India, China join in Bush’s comments come even as Japan and European governments are pressing for measurable commitments to fight global warming
- Crude plays spoilsport with the American holiday Soaring gas prices are forcing American families to cancel their summer trips and look for cheaper forms of entertainment nearer home
- N-deal: Ackerman hopes India will complete internal processes Senior US Congressman Gary Ackerman will visit India next week and is expected to exchange views with the leadership in New Delhi on the nuke issue
- Fed holds rates steady, shows more worry on prices Key US interest rates have been held at 2% in an expected move
- India is top source to meet staff shortage in Britain According to a Manpower study, 20% of British employers are turning to foreign workers to meet skills shortage
- Luncheon at the farmers’ market Americans are beginning to buy just-in-from-the-field produce and preservative-free processed food directly from the farmer at a fraction of what they would have paid at the superstore
- ‘No magic wand’ to solve soaring oil prices overnight: US The White House Press Secretary Dana Perino acknowledged that there’s not a real good short-term answer to high oil prices
- New EU rules for expelling illegals Under the new guidelines, already approved by EU governments, illegal immigrants can be held in specialized detention centres, not jails for up to 18 months before being expelled
- Bush to press Congress to drop offshore drilling ban The announcement came just hours after Republican presidential candidate John McCain called for the federal government to scrap its 27-year-old moratorium on offshore oil drilling
- Olympian-size food service by Aramark The catering firm, which will be serving food at the Beijing Olympics, has also handled catering at the 13 previous Olympics
- Hanuman makes it to White house...well almost Barack Obama, Democratic party’s presidential nominee, is seen carrying the Hindu God’s statue with him for good luck
- UN summit pledges to ease food crisis as hunger threatens nearly 1 billion The summit struck a balance on the contentious issue of biofuels, recognizing “challenges and opportunities” in using food for fuel
- Greenspan, and all that is worng with the Fed All Fed governors and regional bank presidents should be appointed by the US president and approved by the Senate
- Don’t blame biofuels alone for food prices US agriculture subsidies generally encourage excessive food production, and much of the land devoted to corn-for-ethanol was previously uncultivated
- Obama seals Democratic nomination; Clinton does not concede Obama’s victory had been widely assumed for weeks. But Clinton’s declaration of interest in becoming his running mate was unexpected
- PepsiCo, Citi among best US cos for women from multiple cultures The list of 20 companies has been drawn up by US-based Working Mother magazine
- A change in balance of power at the Fed At a minimum, US Fed governor Frederic Mishkin’s departure removes a barrier to a policy reversal on rates.
- UK house prices post biggest fall since 1993 Bank of England policymaker warned house prices could fall by more than 30%
- Euro zone inflation slows in April The European Central Bank wants inflation to be just below 2% over the medium term, and has so far refrained from an interest rate rise
- Immigration has benefited British economy, says new report Immigrants kept skills and labour shortages at bay keeping the economy stable
- Italy scrambles to keep Alitalia flying Prime Minister Romano Prodi is expected to call a cabinet meeting for discussing the issue
- Sportswear workers face harsh conditions, long hours: report As companies gear up to accelerate production for the Beijing Olympics, workers have to work overtime, often without extra pay
- Indian restaurateurs in Britain take to streets They 3.5 billion pound Indian restaurant industry is reeling under sever staff shortage due to restrictive immigration laws
- Bush’s call for curbing emissions too little, too late The US-sponsored talks include countries responsible for 80% of the world’s greenhouse gas emissions
- For Putin, things may not be very simple Dmitri Medvedev, who formally takes office on 7 May, has already made noises that the source of authority should be the president
- Indian food industry in UK showing signs of decline There is not a single British town or village which does not have an Indian restaurant, but staff shortage has led to several of them closing down
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