Pitching for freer movement of goods, services and people across South Asia, Prime Minister Manmohan Singh on Wednesday warned that the region faces the risk of "marginalisation and stagnation" if member countries fail to build SAARC as a group that is better connected and better empowered.
Ahead of a possible meeting between their prime ministers in Thimphu, Pakistan on Tuesday said it wanted the resumption of composite dialogue with India at the political level, as the outcome of parleys between the foreign secretaries had been 'disappointing'."I don't think a forward movement can take place at the foreign-secretary level," Pakistan Foreign Minister Shah Mehmood Qureshi said, adding, "If you want real progress, it will have to come from the political leaders"
Prime Minister Manmohan Singh and his Pakistani counterpart Yousuf Raza Gilani are expected to meet in Thimphu on the margins of the South Asian Association Regional Cooperation Summit, during which the Indian leader is likely to seek an update on the probe and trial in the 26/11 Mumbai terror attacks case being conducted in Pakistan.
Indian Premier League would generate a revenue of $1 billion this season, thanks to huge fan following across the globe, attracting a large number of advertisers, its Commissioner Lalit Modi said on Wednesday.
Taking exception to China's involvement in several projects in Pakistan-occupied Kashmir, India, on Sunday, described it as "illegal" and said it has conveyed its concern over this as well as supply of Chinese weapons to Pakistan. Despite differences on a host of issues with China, External Affairs Minister S M Krishna who is expected to visit Beijing in April this year, said the country did not see it in "antagonistic terms".
The most marked development of the year was the Rs 10,000 crore (Rs 100 billion) Satyam financial scam, disclosed by the founder B Ramalinga Raju, forcing the government to redraft rules for corporate governance and auditing standards.
India achieved the distinction of being the second fastest growing economy amid the global recession in 2009, but the joy was marred by the decade's sharpest rise in food prices to the chagrin of common man.
Besides, some foreign MNCs -- possibly enticed by the world's second fastest growing economy -- sought to enter India by acquiring into local companies, mostly in telecom, steel and pharma sectors.
In 2007, India slashed the additional customs duty it charged on imported (which were up to 150 per cent of value of imports depending on the spirits), but simultaneously hiked the basic customs duties to 150 per cent from 100 per cent.
Accusing the company of deceiving consumers into believing that VitaminWater provides remarkable health benefits by marketing, advertising and labeling the VitaminWater flavours with names, including 'defense', 'rescue' and 'energy', the Center for Science in the Public Interest said the drink was basically sugar water. Coca-Cola bought Glaceau's VitaminWater for $4.1 billion in June 2007.
The best part of the economy was its resilience, of course with a little help in the form of fiscal actions from the government to reverse the slow down, at a time when finance minister P Chidambaram was asked to take charge of the law and order machinery as home minister in the face of Mumbai terror attacks.
A downgraded Hurricane Gustav packed with strong winds and heavy rains lashed the Gulf coast on Monday but spared New Orleans, the city which was devastated three years ago by Hurricane Katrina.Fearing a repeat of the 2005 Hurricane Katrina disaster, more than two million people fled their homes from coastal Mississippi, Albama and South-eastern Texas ahead of the storm, which was at one stage forecast to attain highest Category 5 before making the landfall.
Coca Cola is planning more investments in India on top of its Rs 1000 crore budget for this market. The incremental investment will be made in the next three years. This is with the view of making India amongst Coke's top five markets. Coke regards India as a 'profitable' venture that is adding to the balance sheet of the global giant. India is currently at number 17 in the list of countries where Coke is present and had emerged among the best markets for Coke during 2007.
Ambani vs Ambani, Tata vs Birla, Ambani vs Mittal, the fights came in all permutations and combinations, making 2007 arguably the most happening as well as a tumultuous period for the Indian industry that stamped its authority overseas with about 250 acquisitions worth over $32 billion.
Even with less than four dozen in number as listed entities, the PSUs account for over 20 per cent share of the overall market capitalisation of the more than 4,000 entities at the bourses.
SBI is keen on big overseas acquisitions that will give it a 'strategic fit' along with new products and access to cheaper capital. SBI is not keen on small foreign banks worth a few millions, chairman O P Bhatt said.
Banking is all about leveraging, the ICICI boss said.
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