Weekly International News-wrap


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International Business News concerning India

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Weekly International News-wrap

  1. 1. WEEKLY INTERNATIONAL NEWS WRAP October 24 – October 30, 2012
  2. 2. Weekly International News WrapHurricane Sandy to close US Canadian clean tech industry India losing ground in apparelmarkets for second day on course to overtake exportsThe New York Stock Exchange aerospace India is losing ground to newand the Nasdaq closed on Canada’s $10.6-billion clean competitors like Indonesia,Monday and will remain shut technology industry is on Bangladesh, Vietnam, Turkeyon Tuesday. The Federal course to eclipse the and Mexico in apparel exportsReserve Bank of New York was aerospace industry in size to high-margin westernopen, but some government within five years, according to destinations, primarily owingbond trading had to be a report. Read more>> to three factors: the high costrescheduled. This is the first of manufacturing, longertime in 27 years the stock We will not take any steps delivery time and delay inmarkets have closed for a full affecting Dhaka, PM tells adapting to trends. Readday due to adverse weather. Khaleda more>>Read more>> Prime Minister Manmohan Singh assured the former Indo-Bangla friendship rally toIndia gears up for trilateral Bangladesh Prime Minister, celebrate 100 years of schoolwith US, Japan Begum Khaleda Zia, that New An Indo-Bangladesh friendshipThe trilateral meet will see the Delhi was committed to taking cycle rally would enter intoUS explaining its Asia pivot, Dhaka along as it pursued the Bangladesh from Agartala onwhile maritime security will be economic growth path and November 6 to commemoratea major topic of discussion. In would not take any steps 100 years of Iswar Pathshala, aaddition, officials from the detrimental to her country’s high school in Comilla districtthree countries will touch on interests. Read more>> of the neighbouring country.Afghanistan and Central Asia, Read more>>efforts to embed India in the Bangladesh to conveneregional diplomatic meeting with Bhutan, India Khurshid to appoint envoy toarchitecture of the East Asia over Brahmaputra basin ThimpuSummit, Asean Regional management With Beijing pressing hard toForum and APEC. Read more>> Bangladesh is convening a high establish full-fledged level tri-partite meeting with diplomatic ties with Bhutan,US economic growth up India and Bhutan aimed at newly appointed externalsharply in third quarter jointly utilizing the water affairs minister SalmanThe US economy grew more resources of the Brahmaputra Khurshid’s priority would be tothan expected in the three river especially for power send an Ambassador tomonths to September, official generation, Bangladesh High Thimpu as present envoyfigures showed. Read more>> Commissioner to India, Tariq Pavan Varma has put in his Karim, said. Read more>> papers to try his luck in theUS business investment stalls, political arena. Read more>>cliff looms India, Bangladesh believe theyUS business investment have achieved good progress BD slides five steps down inshowed signs of stalling in in all bilateral spheres Ease of Doing BusinessSeptember, an indication that "I think that today, the level of Bangladesh slid five stepsworries over a possible sharp friendship and cooperation, down from its last yearstightening in the federal which exists between the two position to stay at 129th place,budget are already weighing countries is unprecedented ahead of India, Bhutan andon the economy. Read more>> between any countries, Afghanistan in the South Asia anywhere. We have for the region, under the latest EaseCanadian dollar slips as US past three and a half years of Doing Business index foreconomic data improve worked together in all the 2013, released by theThe loonie lost 0.41 of a cent spheres, which concerned us International Financeto $1.002 (US) after a report and in all the spheres we have Corporation (IFC). Readshowing U.S. economic growth reached good agreements, more>>picked up momentum in the said Union Home Secretarythird quarter. Read more>> R.K.Singh recently. Read India important for Afghan more>> stability: Panetta Emphasising India’s cooperation for developing FICCI – Industry’s Voice for Policy Change
  3. 3. Weekly International News Wrapstability in Afghanistan, U.S. SAD (D) seeks visa on arrival roadmap for the next generalDefence Secretary Leon for Sikh pilgrims of both India election, which is scheduledPanetta said here that India is and Pakistan for early 2012. Read more>>an important country in the Shiromani Akal Dal (Delhi) hasregion and whatever India can demanded from both Indian Much to learn from Bihardo to bring stability in and Pakistan governments to growth model: Pak envoyAfghanistan would be very issue visas on arrival to Sikh The Pakistan Highhelpful. Read more>> pilgrims of both nations. Read Commissioner in India, Salman more>> Bashir, has said that BiharPakistan new outreach could Chief Minister Nitish Kumar’said Afghan peace deal India may provide LNG to visit to Pakistan will furtherPakistan has increased efforts Pakistan under favourable strengthen relationshipto reach out to some of its terms between India and Pakistan.biggest enemies in As a major confidence building Read more>>Afghanistan, a significant move, India has said it willpolicy shift that could prove follow the gas pricing formula Nepal, India agree to solve FMcrucial to US-backed efforts to that is to be implemented in signal overlapstrike a peace deal in the fuel imports through the Iran- Nepal and India have agreedneighbouring country. Read Pakistan (IP) gas pipeline to settle the problem of radiomore>> project for the LNG it earlier signal overlap in the bordering offered to export to Pakistan. Tarai districts through anNew Indian FM vows to Read more>> effective coordinationimprove ties with Pakistan between the concernedIndia’s new External Affairs 50 made-in-India railway ministries of the twoMinister Salman Khurshid said engines to chug into Pak countries. Read more>>that it would be his endeavour In the first-of-its-kind deal, theto reinforce the country’s ties Indian Railways will deliver 50 India ranks 132nd in ease ofto Pakistan. Read more>> refurbished American doing business among 185 Locomotive Company (ALCO) economies: World BankThanks to PM, ties with technology locos at an India lags behind neighboursPakistan in relaxed phase, estimated cost of Rs. 350 Sri Lanka, Bangladesh andsays Krishna crore. Read more>> Nepal in the rankings on easeIn his last interaction with the in doing Business, despitemedia as External Affairs Pakistani Designer Clothing on carrying out most reformsMinister, S.M. Krishna was Sale in India since 2005, a survey byconfident that his successor The Pakistan Fashion Design International Financewould continue to play a role Council has entered the Indian Corporation, the private sectorsupporting Prime Minister market to sell clothes by lending arm of World BankManmohan Singh’s drive to Pakistani designers to Indian shows. Read more>>improve relations with customers. The initiative toPakistan and China. Read open its first store in India Brazil: the worlds 21stmore>> comes amid recent efforts by Century breadbasket the two rivals to improve trade Brazil has for centuries beenFirst dedicated auction of ties. Read more>> known as a leading producerPakistani art in India goes and exporter of the worldsonline on November 7 Pakistan Parliament may be breakfast, or soft,The countrys premier art dissolved in January; elections commodities - orange juice,auction house, Saffronart.com to be held by April coffee, sugar and cocoa. Butis going to host the first ever Pakistans Parliament is likely over the past two and a halfauction of Pakistani art in India to be dissolved in January decades since opening toon November 7 and 8. The 24- 2013 and a caretaker foreign participation, Latinhour online auction that will government installed to Americas largest economy hasbegin at 9.30pm on November oversee elections to be held by also become a leading supplier7 will feature 70 works of art April. Speculation has of important grains and meats,by masters past and present increased in political circles through investments infrom across the border. Read about the government technology and land. Readmore>> preparing a preliminary More>> FICCI – Industry’s Voice for Policy Change
  4. 4. Weekly International News WrapFDI inflows to Latin America Singapore Deputy Prime Canada, Australia primerises 8 Percent in Six months Minister Teo Chee Hean today ministers to be in Punjabto US$ 94.3 billion asked the local industry to With the premiers of twoInflows of Foreign Direct explore more business countries - Canada andInvestment to 17 Latin opportunities in India. Read Australia - slated to be inAmerica’s countries rose 8% in more>> Punjab in the first week ofthe first six months of 2012, November, the statecompared to the same period India, Brunei looking at joint government is makinga year ago, reaching US $ venture in hospitality elaborate arrangements to94.331 billion. Read More>> development make their stay a memorable India and Brunei will explore one. Read more>>Panama offers gateway to the possibilities of having jointLatin America ventures in hospitality and Indo-Mauritius biz meet: NewPanama will be an effective infrastructural development. avenues to expand tradegateway to penetrate into a Brunei will also consider discussedhuge Latin American market investing in Indias hotel New areas of engagement andwith a population of 600 sector, which has been opened ways to expand bilateral trademillion, Ricardo Martinelli, up for 100 per cent Foreign relations were discussed at thePresident of the Republic of Direct Investment (FDI). Read India-Mauritius BusinessPanama, told a business more>> Round Table held at the islandconference. Read More>> nation which is the top source India to diversify energy of foreign direct investment inChinese companies play vital sourcing India. Read more>>role in Brazils growing India is increasingly movingeconomy beyond West Asia in search for SBI opens seventh branch inBrazils booming domestic energy sources. For a country South Africamarket and its growing that imported over 76% of its At the inauguration of the newimportance in global economy fossil fuel requirements in branch, Indian Highhave attracted a number of 2011-12 for an estimated $140 Commissioner Virendra Guptaforeign companies to seek billion (Rs 7,48,580 crore) from said South Africa is seen as aopportunities in the country, the region, against $100 billion launchpad for investment intoincluding Chinese ones. Read (Rs 5,34,700 crore) in 2010-11, Africa and most of the bigMore>> making an business houses of India have immediate geographic shift is set up business here. ReadGMR Plans Minority Stake easier said than done. Read more>>Buys In Myanmar And Latin more>>American Airports Essar shores up GreenfieldGMR is planning to buy India to get record Malaysian investmentsminority stakes in the palm oil Indian giant Essar Africaproposed airport projects in Malaysian palm oil exports to investment into the defunctMyanmar (Burma) and Latin India are likely to touch a Zimbabwe Iron and SteelAmerica. Read More>> record high of over two million Company (Ziscosteel) has tonnes (mt) in calendar 2012. helped shore up the country’sIndian Navy ship docks in Bali "Due to the export duty cut greenfield investments fromAn Indian Navy sail training announced by Malaysia Read $0,8 billion in 2010 to $5,8ship, which is on an expedition more>> billion last year, latest figuresto retrace the route along have shown. Read more>>monsoon winds, arrived in Bali Aung San Suu Kyi to kick offon Saturday, with its captain India visit from Nov 13 India-SA ties see trade on thehoping that its emotional A photograph of Aung San Suu increaseconnect would help in Kyi during her visit to the Trade between South Africaenhancing people to people worlds oldest democracy and India is growingconnectivity between India captures the resolve and rise exponentially due to strongand Indonesia. Read more>> of the Burmese heroine of political backing and democracy. It shows her commercial demand.Singapore Dy PM calls on local receiving the US Congressional According to reports in theindustry to expand biz in India Gold Medal, Read more>> Indian media, trade between FICCI – Industry’s Voice for Policy Change
  5. 5. Weekly International News Wrapthe two countries is expected Lemken sets up first non- $1,537 per tonne onto reach $15-billion this year, European manufacturing shipments of a chemical usedthree years ahead of the initial plant in Nagpur in beauty products, from EU,2015 target. Read more>> In a bid to take a slice of the Iran, Indonesia and Japan, estimated Rs 3,000-crore agro saying it was being exported toPatient outflow to India equipment market in India, India below cost price. Readhave Nigerian doctors Germany-based manufacturer more>>worried Lemken GmbH and Co KG hasIndias trade relations with set up its first non-European India Stresses Irans ImportantNigeria might be improving, manufacturing unit at Butibori, Regional Rolebut the growing trend of Nagpur. Read More>> Speaker of the Indian LokNigerians seeking medical Sabha (Parliament) Meiratreatment in India has India, Spain sign 5 pacts Kumar in a meeting with anbecome a cause of worry for India and Spain recently signed Iranian parliamentarythe Nigeria Medical five pacts, including a protocol delegation called Iran anAssociation (NMA), which for amending the over 19- important country in thesays that the huge outflow of year-old double taxation region, stressing New Delhispatients is a matter of avoidance pact to check tax willingness to expand relationsconcern. Read more>> evasion. Read More>> with Tehran. Read more>>Indian firms reap bitter India seeks Israeli expertise in Iran relents on Indian wheatharvest in Africa renewable energy sector importIndian companies which Almost 12 per cent of the The row with Iran over theinvested in controversial deals energy generated in India is presence of rust in the Indianinvolving hundreds of through renewable sources, wheat seems to have settledthousands of acres of land in comprising small hydro, bio- for now. Read more>>Ethiopia have found mass, wind and solar power.themselves out of their depth Now, the Government is keen Worlds spare oil capacityin a fast-growing African that electricity produced from grows as Iran sanctions biteeconomy that is still in the large hydro should be included The worlds spare oilprocess of building critical in this category so that the production capacity outside oftransport and irrigation share of renewables in the Iran rose in last two months asnetworks. Read more>> overall energy mix rises to gasoline demand waned in the about 31 per cent, stressed United States and oil use forSun Pharma may fund new Gireesh Pradhan, Secretary, power generation fell in thetelecom joint-venture with Ministry of New and Middle East, the U.S.Telenor Renewable Energy. Read government said in aIndias fifth largest pharma more>> bimonthly report. readcompany by market size, Sun more>>Pharma could be readying DAV varsity plans to go globalitself to fund its executive Aiming to encourage use of Iran to Invest $250mln in IPIdirector Sudhir Valias private world-class techniques and Peace Pipeline Projectinvestment in the Norwegian practices to engineer Tehran plans to invest $250telecom firm Telenor. Read profitability in already sagging million in the construction ofMore>> farming sector, DAV University the Pakistani side of a pipeline here is contemplating project which is due to takeIndias Tata Steel to invest collaboration with Israel Irans rich gas reserves to the$645 million in Europe government for introducing a energy-hungry Pakistan, anTata Steel, the worlds largest four-year agricultural informed source said, addingsteel company, will invest engineering course in India. that a team of experts frommillions in Europe to combat Read more>> the Iranian Oil Ministry willsluggish returns in India. travel to Islamabad this weekEurope accounts for nearly Anti-dumping duty on to sign a relevant agreement.two-thirds of sales and chemical imports from EU, Read more>>production for the Indian Iran, Japansteelmaker. Read More>> The government has imposed Art, cultural shows help in anti- dumping duty of up to fostering ties: Indian envoy FICCI – Industry’s Voice for Policy Change
  6. 6. Weekly International News WrapArt and cultural events have India and China, boththe alluring power to bring emerging countries, shouldtogether not only the people become “inseparable strategicof different regions from partners” overcoming theacross the world, but they also “deep scars” inflicted by thego a long way in fostering 1962 war and should make itsrelations among people of 50th anniversary a startingdifferent cultures and point for a promising bilateralbackgrounds. Read more>> cooperation. Read More>>Ensure rights of air India, China renew push topassengers, Indian govt urged bridge deficit ahead of tradeAn Indian expatriate group has talksurged the Indian government With India and China set toto pass laws to ensure that the hold their annual Strategicrights and interests of air Economic Dialogue (SED) inpassengers are safeguarded. New Delhi in the last week ofRead more>> November, China indicated its willingness to provide betterOman waives huge fines for market access by promotingstranded labourers India as a partner-country at aAmidst frequent news of major automobileabsconding workers and components’ fair. Indiancrackdown against illegals, the officials will provide more toOmani authorities and Indian support investments in Chinaembassy have warmed the and help equip companies,cockles of many hearts by which are often unaware ofshowing their humanitarian the specific challenges of theside by helping stranded China market, to make morelabourers reunite with their robust entries. Read More>>families. Read more>> Metro gets Japanese awardGodrej announces tie-up with The Delhi Metro RailMHD Corporation (DMRC) wasGodrej Locking Solutions and awarded the prestigious JapanSystems, India’s leading player International Cooperationin locking solutions, is eyeing Agency (JICA) President’sthe Oman market for a major Award 2012 on Monday. Readretail expansion in the region. More>>Read more>> India, US, Japan discussUAE trade body invites Indian maritime securityentrepreneurs to set up Senior officials of India, thebusiness US and Japan held their thirdRecognizing the rapid growth trilateral dialogue thatand huge potential, focused on firming upparticularly among SMEs in strategies to combat piracy,Maharashtra, Ras Al Khaimah bolstering maritime securityFree Trade Zone Authority and leveraging their strengths(RAK FTZ) has invited Indian to shape the Asia-Pacificentrepreneurs to set up architecture. Read More>>business in the United ArabEmirates (UAE). Read more>>India-China should becomeinseparable strategic partners FICCI – Industry’s Voice for Policy Change