India and World
NMDC Buys Coal, Ironore Mines From Overseas
India’s largest iron ore producer NMDC,Which had acquired a 50% stake in the Australian iron ore firm Legacy Iron ore recently. To acquire more from overseas mines, one each in Russia, Brazil, Mozambique and Australia. The four mines include one coking coal mine each in Russia,Mozambique and Australia and iron ore mine in Brazil. They had singed a non-disclosure agreement with these companies and due diligence process to start shortly.
MFN Status, Lost Its Translation
India-Pakistan relation’s are bound to be a bit of a side show. This gig is traveling from city to city,stirring up passion against Pakistan’s decision to grant India MFN status among other things. The message that there can be no normalising of trade with India had found wide acceptance. In a nation that term Dushman hamsaya, Who are all for across borders trade find themselves on the backfoot while discussing giving this same to neighbour’s the status of ‘ sabsey pasandeeda mulk’. Ignorance about MFN is wide spread, shockingly even among friends of India . No one knows exactly what it is. What they understand from the translation of Most Favoured Nation (MFN).
India Don’t Want Change Of Rule In Syria
India had taken decision to vote in favour of the UN Security Council resolution on Syria by stating that it does not want a regime change in the turmoil-ridden Arab country. The draft resolution was supported by 13 of the 15 members of the UN Security council when it was voted on 4 Feb 2012. Russia and China used their vote power to block the resolution.By Russia and China backing the security council, the syrian regime had stepped up armed attacks against protesters in the embattled city.
$250m Credit For Maurituis
India had announced an economic package which includes a line of credit of $250million and a grant of $ 20million to Maurituis with whom it had traditionally enjoyed warm and friendly ties.The two sides also signed a slew of agreements and MoUs. The two sides will provide a frame work for cooperation in the field of science and technology.
India & China Call For New “Flexible” Ties
Indian & Chinese leaders on 8 Feb 2012 had laid out a new roadmap for bilateral ties calling for a “”Flexible and imaginative””approach in 2012 to minimise the effect of persisting political irritants, such as border disputes and Tibet. External Affairs minister S.M.Krishna who on 8 Feb inaugurated India’s new $10million embassy, which he had described as turning a new page in ties and underscored India’s willingness to calm sources of tension.
India & China Set Bilateral Trade Target $100b
India & China had set up an ambitious bilateral trade target of $100billion by 2015 compared to last yrs record figure of $74billion, External Affairs Minister S.M,Krishna said Bilateral Economic & Trade Cooperation had witnessed a robust growth rate. India will continue to carry forward the positive momentum in ties.
India & Saudi Agreed to Set Up Joint Working Group
India & Saudi Arabia on 13 Feb 2012 agreed to set up a joint working group on defence cooperation during the visit of Defence Minister A.K.Antony. The two sides held wide range talks about combating terrorism and piracy and cooperation in regional affairs.
Pakistan May Be Allowed To Invest In India
India may allow investments from Paksistan into the country , Government Sources said the commerce ministry had proposed to the finance minister to exempt Pakistan from the Foreign Exchange Management Act (FEMA) Regulations. This is being seen as a move to strengthen bilateral economic relation between the two countries.
India Seeks Oil From Saudi-Arabia
India had sought additional five million tonnes of crude oil from Saudi- Arabia as its second largest oil supplier Iran faces action from US & Israel over the Islamic nation’s nuclear programme. Saudi-Arabia is the biggest supplier of crude oil to India followed by Iran, Iraq and Nigeria. India buys 27million tonnes of crude oil per annum from Saudi-Arabia while its annual import from Iran is about 17million tonnes.
India & Pakistan Extended Agreement On Reducing Risk From Nuclear Accidents
India & Pakistan on 21 Feb 2012 agreed to extend the agreement related to nuclear weapons for another five years, in accordance with article 8 of the agreement between the two countries. The agreement had come into force on 21 Feb 2007 for an initial duration of five years.
India To Set Up Engagement With Arab World
India will set up its mutilateral engagement with the Arab world in the up coming months with a series of events that will include a visit to Cairo by the External Affairs Minister S.M.Krishna to confabulate with the Arab League and to re-engage Egypt, which is stepping out of the rigid policy confines of the Mubarak era.
Canada, India For Nuclear Ties
The civil nuclear cooperation agreement between India and Canada closes, the two countries could cooperate in looking at third markets requiring nuclear technology for energy purpose. The two nations realising the importance and the value of strong bilateral relations.The best indicator of the improved ties was the civil nuclear cooperation agreement signed by the Prime ministers of both the countries in 2010.Canada would be able to sell uranium, nuclear supplies and equipment to India soon. Both countries also negotiating a comprehensive economic partnership agreement.
NTPC To Supply 250MW Power To Bangladesh
The country’s largest electricity producer NTPC is going to supply 250MW power to Bangladesh from the unallocated quota , a move that will help strengthen trade ties between the two nations.