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Weekly international news wrap - FICCI

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International developments that caught our attention through the week the went by

International developments that caught our attention through the week the went by

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  • 1. WEEKLY INTERNATIONAL NEWS WRAP AUGUST 21 – AUGUST 27, 2012
  • 2. Weekly International News WrapSouth Africa keen to have lowest level this year, a survey ever before in the US, as theIndian investments of six traders and an analysis measures adopted by thatSouth Africa and India are set of loading plans obtained by country have made it harderto reach a target of trade Bloomberg News showed. and costlier for Indianworth $15 billion by 2014 and Read more>> software professionals toSouth Africa is keen about travel on work to theirIndian investment in the Former Ethiopia PM Meles main market. Read more>>country, its Deputy Minister Zenawi helped extend Indiasfor Trade and Industry footprint in Africa Biz sentiment in US betterElizabeth Thabethe said. Read In 2008, India was shopping than Europe: Krismore>> for votes in support for the Gopalakrishnan, Infosys nuclear deal in the IAEA. And, Business sentiment in the US isMine tragedy highlights South the then Ethiopian PM Meles better than Europe on accountAfrica investment risks Zenawi gave it without of the dynamic nature of itsThe bloody confrontation hesitation. As he told Indian economy, Infosys Executivebetween striking South African diplomats, "Indias growth is in Co-Chairman Krisminers and police last week Ethiopias interest." Read Gopalakrishnan said. Readhas raised hard questions more>> more>>about investing in Africas topeconomy and the ruling ANCs Zambia keen on Indian Indian IT companies like Techability to deliver on overdue investment, tripling trade Mahindra hire immigrationpromises of job creation and The Republic of Zambia plans lawyers in the USchange. Read more>> to attract Indian investments An increasing number of in energy, agro processing, Indian IT and BPO companiesNoel Tata frames strategy to manufacturing, construction are hiring visa experts andtake group on African safari and tourism. Investments are immigration lawyers inNoel Tata, the brother-inlaw of also invited in developing its the US to ensure thatTata group chairman designate national parks. Read more>> every visa petition they file isCyrus Mistry, is embarking on fully compliant witha major push into the African Govt plans sops to boost SEZ immigration, labour and wagemarket for the Tata group exports norms. Read more>>following up on Ratan Tata’s India would set up an India-conviction that the continent is Africa Diamond Institute in Clouds over US economyan area full of latent potential Botswana, with Indian unlikely to clear soonwaiting to be tapped by the assistance of $2.7 million. The cloudy state of the USsaltto-software group. Read Read more>> economy has put the Federalmore>> Reserve in a fix. The central Africa Shows Increasing bank seems increasingly willingSA’s private sector most feisty Economic Growth, Says Ex- to take another stab atin Africa Belgium PM stimulating the economy, butSouth Africa’s private sector is “If you look to the figures you only if growth clearly appears“arguably the most will see that Africa is growing to be faltering. Read more>>competitive new actor in now in the last 10 years withAfrica”, particularly in an average of more or less six China investment in US risesAnglophone countries, percent every year,” says Guy despite tough talkaccording to Martyn Davies, Verhofstadt, former Belgian US presidential candidates talkthe chief executive of Prime Minister. “You see also a tough on fighting what theyconsultancy Frontier Advisory. growing middle class, an see as Chinas unfair tradeRead more>> emerging middle class.” Read policies, but Chinese More companies are investing moreAsia to Cut West African than ever in the US andCrude Imports for September IT cos like TCS and Infosys supporting thousands ofby 9.4% take hit due to subcontracting American jobs. Read more>>Asian refiners will reduce and denial of US visasimports of West African crude Information technology US Stock Futures Slump onin September by 9.4 percent companies are being forced to Downbeat Jobless Claims Datafrom August to near the subcontract more work than FICCI – Industry’s Voice for Policy Change
  • 3. Weekly International News WrapUS stock futures ticked lower, nurture talents and build A Japanese government-erasing earlier gains, with human resources. With this affiliated lender will take ahopes for more stimulus action perspective, the India China 26% stake in an Indianfrom the Federal Reserve Economic and Cultural Council company charged withgiving way to worries about (ICEC) in association with building a massiveworse-than-expected jobless Government of Sichuan and infrastructure project linkingclaims data. Read more>> Ministry of Education of China Delhi and Mumbai, as Tokyo is organizing a round table seeks to increase itsCanada’s banks want to tame discussion on Management infrastructure-related exportswatchdog’s bite Studies & Areas of Possible to emerging markets. ReadCanada’s banks want the Cooperation between India & more>>federally mandated customer China during the 2012complaints ombudsman Education Forum for Asia Over 1.5 lakh Pakistanisstripped of the power to track Annual Conference. Read arrived in India in last 3 yearsand investigate systemic more>> Minister of State for Homeproblems in the way they do Mullappally Ramachandranbusiness. Read more>> Japan-ease for Ahmedabad informed the Lok Sabha that roads 53,137 Pakistanis arrived inIndia, China meet to resolve For the first time in the the country in 2009, 51,739 intrade matters, strengthen ties country, the Japanese 2010 and 48,640 came inBeijing assured New Delhi of government will aid an Indian 2011. Read more>>resolving the issue of trade city - Ahmedabad, inhighly lopsided in favour of implementing an Intelligent Negative list regime to boostChina, by giving greater Traffic System (ITS). From exports to Pakistan:market access to India in getting real-time traffic Jyotiraditya Scindiainformation technology (IT), diversions on your mobile Exports of farm produce,agriculture and phone, to spending less time textiles chemicals and autopharmaceutical sectors. Read on traffic lights, reducing components are expected tomore>> accidents to live updates on get a boost by the Pakistans electronic display boards at move to allow trade in moreIndia-China to have 5-yr traffic junctions or an number of goods; Parliamenteconomic cooperation plan accident, the system will do it was informed by Minister ofIndia and China have agreed all. Read more>> State for Commerce andto a five-year plan on Industry Jyotiraditya Scindia ineconomic cooperation as well Japans Suzuki Motor a written reply to the Rajyaas setting up a joint working Corporation chairman Osamu Sabha. Read more>>group (JWG) to go into all Suzuki visits Marutistrade related issues, violence-hit Manesar plant SBI, Bank of India allowed toCommerce Minister Anand Chairman of Japans Suzuki operate in PakistanSharma said. The JWG, Motor Corporation Osamu India and Pakistan have agreedcomprising senior officials Suzuki on Monday visited the to allow two banks each fromfrom both sides, would be set violence-hit Manesar plant of both the countries to set upup soon and will submit its the companys Indian arm branches across the border,recommendations within Maruti Suzuki.According to a Governor of the State Bank ofthree months. It would company source, Suzuki Pakistan, Yaseen Anwar said ndcontinue to work on inspected the plant, that was on 22 August, 2012. Readinvestment and trade-related damaged during arson and more>>matters thereafter. Read violence on July 18 in which PNB seeks to open branchesmore>> one senior official of Maruti in Lahore, Karachi Suzuki India (MSI) was killed Punjab National Bank (PNB)Asia Annual Conference to and 100 others were injured, has filed an application todiscuss management studies in the afternoon. Read open branches in Lahore andbetween India, China more>> Karachi, a move that can signalAs China and India bond to wider range of trade andboost business ties, the JBIC to Take Stake in Delhi- financial ties between Indiaeducation sector in both Mumbai Industrial Corridor and Pakistan. Read more>>countries are collaborating to FICCI – Industry’s Voice for Policy Change
  • 4. Weekly International News WrapPakistan wants to resolve all in November-December to talk Partnership Agreement (CEPA)issues with India: Badr about the development model with India, as it feared grantingPakistan wants to resolve all and good governance he had more Indian access to itsissues including Kashmir, ushered in his own state. markets would destroy thatSiachin and water disputes Kumar gave an assurance to country’s domestic industry.with India, besides promoting visit all the five provinces to an Read more>>bilateral trade, people-to- all-party delegation ofpeople contact, and parliamentarians from Sri Lanka India J/V to doublecooperation in health and Pakistan, led by secretary car tyre capacityeducation sectors, PPP general of Pakistan Peoples CEAT Kelani Tyres a Sri LankaSecretary General Senator Party and leader of the house India joint venture is planningJahangir Badr said. Read in senate Jehangir Badr. Read to double capacity to producemore>> more>> up to 500,000 car and van tyres a year, at a cost of billionIndia, Pakistan MPs moot new India-Pakistan: Slow progress rupees, chairman RohanCBMs in trade talks for petroleum, Fernando has said. ReadAhead of External Affairs power more>>Minister S.M. Krishnas visit to Plans of India exporting petrolIslamabad, parliamentarians of and power to Pakistan are Sri Lankan government shutsIndia and Pakistan making a "slow" progress as down universitiesrecommended a clutch of Islamabad continues to be The Sri Lankan Governmentradical confidence-building wary of being dependent on its has shut down all universitiesmeasures, including allowing neighbour for meeting energy in the country for an indefinitetravel by citizens across the needs, impacting full period amidst a row about theborder in their own vehicles normalisation of bilateral future of education in theand visa-free access for trade. Read more>> nation. Read more>>educationists and seniorcitizens. Read more>> Pak parliamentarians floats Nepal fails to take benefit of soft transportation policy GSP facilityDewan Group attracts Indian between two countries Nepal has failed to takeinvestment in cement, fibre The Pakistani parliamentarians benefit of the facility ofWith a view to cementing have floated the idea of soft Generalised System oftrade ties between Pak-India transportation between India Preferences (GSP) provided byrelations, the Dewan Group is and Pakistan during meeting the US, according to a highin talks for joint ventures with with their Indian counterparts level US representative. ReadIndian investors for its cement besides liberalization of visa more>>and fibre business, sources regime. Read more>>close to the conglomerate Nepal to cement ties with Srisaid. Read more>> India-Pakistan: Slow progress Lanka through tourism in trade talks for petroleum, Two South Asian countriesNormalisation of Pak-India power Nepal and Sri Lanka which hadties vital for regional peace: Plans of India exporting petrol tremendous tourism potentialGilani and power to Pakistan are but could not exploit themFormer prime minister and making a "slow" progress as properly are now to launch aPPP Senior Vice Chairman Islamabad continues to be tourism developmentYousaf Raza Gilani on Saturday wary of being dependent on its campaign jointly. Read more>>said that normalisation of neighbour for meeting energyrelations between India and Campco seeks curbs on needs, impacting fullPakistan held the key to peace arecanut import thru Nepal, normalisation of bilateraland prosperity of millions of Bangladesh trade. Read more>>poverty-stricken people of the The Central Arecanut andtwo countries. Read more>> Sri Lanka not keen on CEPA Cocoa Marketing and with India Processing CooperativePak invites Nitish Kumar to Sri Lanka has apparently (Campco) Ltd has said thatreplicate his funda of growth informed Indian authorities it Nepal and Bangladesh areBihar chief minister Nitish was not keen on having a exporting huge quantities ofKumar will be visiting Pakistan Comprehensive Economic arecanut to India. Read more>> FICCI – Industry’s Voice for Policy Change
  • 5. Weekly International News WrapIndia, Iran, Afghanistan to New Delhi this week to work State asks NGO to submithold talks ahead of NAM out the terms of reference to development projectsummit jointly study of the dams proposals for enclaveAhead of the NAM summit, impact. Read more>> residentsIndia, Iran and Afghanistan will West Bengal government hashold a strategic trilateral meet Barge movement on Indo- asked the Bharat Bangladeshin Tehran in which key issues, Bangla trade route to bypass Enclave Exchangeincluding regional security and Sunderbans Coordination Committeeeconomic situation and best The barges engaged in the (BBEECC) to submit a proposalutilisation of Chabahar port, a transportation of goods by for development projects insignificant commercial river between India and Bangladeshi enclaves in India.venture, will be discussed. Bangladesh will from now on Read more>>Read more>> follow a new route over a certain stretch of the river on India partners with SouthSAARCs success depends on the Indian side of the Asian nations to combatIndia, Pakistan: National Sunderbans. This follows the poachingConference Centre’s decision to bypass the Acknowledging that theJammu and Kashmirs ruling core area of the Sunderbans. problem cannot be foughtNational Conference (NC) said The new stretch, entailing an effectively by any one country,on Sunday that improved additional distance of 40-45 India and other South AsianIndia-Pakistan relations can km, falls outside the core area. nations are working togethernot only bring stability to the Read more>> to combat wildlife poaching –region but also holds the key an illegal but lucrative tradeto the success of SAARC. Read Wages in Bangladesh Far which bets an estimated Rs 1.1more>> Below India trillion ($20 billion) annually. India’s neighbor Bangladesh Read more>>State picked for Saarc has become the second-largesteducation meet apparel exporter in the world, Bangladesh: DBBL formallyJharkhand is the only state in after China, but labour unrest launches mobile bankingthe country chosen to is growing as workers demand services in Bangladeshparticipate in the South Asian higher wages. Read more>> Dutch-Bangla Bank LtdAssociation for Regional formally launched mobileCooperation (Saarc) India to construct bridge over banking in partnership withconference on Early Childhood river Feni Airtel Bangladesh Ltd. ReadCare and Education policy To boost bilateral trade more>>(ECCE) to be held at Hotel between the two countries,Oberoi in New Delhi. Read India will construct a four-lane Bangladesh finally getsmore>> bridge on Feni river in Tripura undersea cable back-up that would connect the states Bangladesh has finally got theIndia ratifies Saarc accord on South district with Chittagong much-needed back-up for thenatural disasters division in Bangladesh. Read lone undersea cable by way ofIndia became the first country more>> terrestrial connectivity, withto ratify the Saarc Agreement commercial operation due inon Rapid Response to Natural India for friendly ties with September. Read more>>Disasters, South Asian main political parties to getAssociation for Regional Co- transit Khaleda likely to visit India,operation (Saarc) Secretariat in The alliance government in China soonthe Nepali capital Kathmandu India is likely to pursue friendly BNP chief Khaleda Zia is likelysaid. Read more>> relations with the mainstream to visit India and China soon toIndo-Bangla sub-group on political parties of Bangladesh discuss bilateral issues andTipaimukh meets to finalize with an aim to achieve also the next general electionToR permanent rail and road of Bangladesh, party insidersThe Indo-Bangladesh joint sub transit to the northeast, have said. Read more>>group on the proposed political monitors said inTipaimukh Hydroelectric Dhaka. Read more>> An Indian bridge to boostProject met for the first time in neighbourhood trade FICCI – Industry’s Voice for Policy Change
  • 6. Weekly International News WrapA bridge to be built by India Myanmar, Europe, US, Brazil Foreign Investment atover River Feni in Tripura for Caribbean, Australia & New Highest Since December 2010gaining access to Bangladeshs Zealand, South Africa, Middle Brazil’s foreign directChittagong sea port would not East, Asia including South East investment in July reached theonly facilitate transport of Asia. Read more>> highest level since Decembergoods to the Northeast but 2010 and may exceed thealso boost trade and economic Latin America most urbanized central bank’s $50 billionties with neighbouring region in the world: UN projections this year ascountries. Read more>> According to a presentation investors bet economic growth given by the United Nations will accelerate. Read More>>Bangladesh to attend experts Human Settlement Programmeet on proposed dam (UN-Habitat) in Rio de Janeiro, India Inc less transparent thanThe crucial Bangladesh-India the region of Latin America peers in Brazil, Chinajoint sub-group on the and the Caribbean is the most India Inc is less transparentproposed Tipaimukh Dam is to urbanized of the world. Read than its peers in Brazil, Chinameet in New Delhi for their More>> and South Africa when itfirst meeting next Monday and comes to reporting aboutare expecting to formulate a Argentinas July Trade Surplus economic, social,terms of reference (TOR) for Swells to US $1.01 Billion environmental andstudying the impact of the Argentinas trade surplus governance issues concerningmuch-debated project, soared to $1.01 billion in July, their business, according to aofficials said in Dhaka. as government import barriers non-profit organisationRead more>> helped offset sluggish growth working for a sustainable in exports. Read More>> global economy. Read More>>Army chief on 3-day visit toBhutan Latin America Proving Fruitful Toyota, Nissan put on holdArmy Chief Gen Bikram Singh Territory for Business Jet launch of high-end cars Lexusis on a three-day visit to Makers & Infiniti in India.Bhutan. He will hold Business jet makers, still Japanese carmakers Toyotadiscussions with the top searching for global economic and Nissan have put theleadership there to further stability, are finding more solid brakes on their plans to launchstrengthen military ties footing in Latin America and luxury brands Lexus and Infinitibetween the neighbours. Read have taken efforts to expand in the country, partly becausemore>> their presence in the region. Indias free trade negotiations Read More>> with European Union mayGovt mulls fee formula for make German rivals BMW,Bhutan transit IAF chief in Brazil to promote Audi and Mercedes muchThe government is working on defence ties more competitive. Reada fee-based formula to give IAF chief Air Chief Marshal N A more>>permanent transit for Bhutan K Browne left for a four-dayin line with a framework visit to Brazil to bolster Italian tile firms keen to enteragreement suggested by a bilateral defence cooperation India from Gujaratpanel, a senior official of the even as the first of the three Italian ceramic tilecommerce ministry said. Read Emb-145 jets ordered for $210 manufacturers are joiningmore>> million is slated to touch down hands with Gujarats tile in India on Wednesday. Read companies to tap the tilesTen Sports inks 5-year More>> market in India. Read more>>broadcast rights deal with EFLIZee Entertainment Enterprise TVS Motors Indonesian arm Greece moves closer to theLimiteds sports broadcasting to drive into Latin America Eurozone’s exit doornetwork Ten Sports has inked TVS Motors Indonesian arm Greece’s economy has beena five-year broadcast rights PTTVS Motor Company contracting since 2007. In theagreement with Elite Football Indonesia (PT TVS) is looking at second quarter of this yearLeague of India (EFLI) till 2016 new markets like Laos, GDP was over 6% lower than afor India, Pakistan, Sri Lanka, Columbia, Argentina, Peru, year earlier and, according toBangladesh, Nepal, Maldives, Guatemala, Nigeria, Brazil and the OECD, is projected to fallBhutan, Afghanistan, Vietnam. Read More>> FICCI – Industry’s Voice for Policy Change
  • 7. Weekly International News Wrapby 5½% overall this year and Ahead of the 16th NAM Australias consul-general in1½% next. Read more>> Summit, External Affairs Mumbai Steve Waters offered Minister S M Krishna has said Australian technical expertiseIndia walking tightrope in that India hopes to boost to Goa for the development ofintra-Islam cold war in West mutual cooperation with Iran the states tourism andAsia especially in the economic industrial infrastructure. ReadIndia is trying hard not to take sector. Read more>> more>>sides in what seems to beheading towards an intra-Islam India, Iran to discuss rupee Indias GVK wins approval forcold war in West Asia. Read payment for oil $10 billion Aussie coal mine,more>> Payment in Indian currency for rail project Iranian crude will feature in The Australian governmentIndias MRPL buys Oman oil to discussions during Prime has given a green signal to GVKreplace Iranian crude-source Minister Manmohan Singh’s Groups USD 10 billion AlphaIndias Mangalore Refinery and visit to Iran as the two Coal project in Queensland.Petrochemicals Ltd has bought countries have failed to agree Read more>>600,000 barrels of Oman oil on a cut-off date for rupeethrough a tender, a source accrual. Read more>> Cipla partners Aspen forwith knowledge of the deal Australia foraysaid, as Iranian supplies are hit Bahrain urges India move for Drug maker Cipla is partneringby European sanctions. Read regional security South Africa’s Aspenmore>> Bahrain has called for India to Pharmacare to cater to the step up efforts to maintain Australian market, it is learnt.Oman India fund invests Rs 55 peace and security in region in Under the pact, Cipla wouldcr in Indus Teqsite a bid to thwart potential develop generic products, toThe Oman India Joint threats from Iran. Read be launched by Aspen inInvestment Fund has invested more>> Australia. Read more>>Rs 55 crore in the Chennai-based electronics company, India to sponsor pension fund Australia declares resourcesIndus Teqsite Pvt Ltd. Read for workers boom is overmore>> The Indian Government would Australias resources minister sponsor an ambitious Pension declared the end of theIndia offers vast scope for and Life Insurance Fund (PLIF) countrys mining boom, a dayIslamic banking for skilled and unskilled Indian after the worlds biggest minerIslamic banking may be in for workers employed in the BHP Billiton shelved twosome windfall gains if a United Arab Emirates (UAE), a expansion plans worth at leastreported move by Indian top Indian diplomat has $40 billion. Read more>>authorities to introduce some revealed. Read more>>form of interest-free banking, Indias Fortis eyes up to $400aimed at bringing the L&T secures Rs 1302 crore million trust IPO in Singaporecountry’s unbanked Muslim order from Petroleum Religare Health Trust is set topopulations into mainstream Development Oman launch an up to $400 millionbanking, bears fruit. Read Larsen and Toubro Limited, initial public offering inmore>> India has bagged another Singapore, a source said, in a order from Petroleum move that will allow theIran draws India closer with Development Oman LLC backer of the trust, Indiantalks on Afghanistan valued around Rs 1302 Crore hospitals group FortisIndia, Iran and Afghanistan will (USD 235 million). The new Healthcare, to cut itshold talks on giving greater order involves EPC substantial debt level. Readaccess to landlocked (Engineering, Procurement & more>>Afghanistan, a move that could Construction) of the Saih Rawlalso ease Irans isolation in the Depletion Compression phaseregion. Read more>> 2 (SRDC2) project. Read more>>India, Iran firm up ties aheadof NAM Summit Wizards of Australia offer Goa their tourism expertise FICCI – Industry’s Voice for Policy Change