Development of New Environment Friendly Technologies to Play Very Important Role: Prime Minister

Development of New Environment Friendly Technologies to Play Very Important Role: Prime Minister

Regulatory Mechanism For Appraisal And Pricing Required For Mining Sector : CJI SH KAPADIA

The Prime Minister, Dr. Manmohan Singh said, “In this increasingly integrated world that we live in, we have to devise cooperative solutions to deal with the pressing emerging global challenges and concerns. The development of new environment friendly technologies is going to play a very important role. The task ahead is to design a system of intellectual property rights which provides adequate incentives to invest in the development of new environment friendly technologies and at the same time ensuring that these technologies become available to poor countries at affordable cost.” Delivering a valedictory address at the end of three-day International Seminar on Global Environment and Disaster Management: Law and Society” here today, Dr Singh said The United Nations Conference held at Stockholm in 1972 marked the first major international event to deal with environmental issues. But securing global cooperation for the protection and preservation of the environment has proved quite difficult. All countries, both rich and poor, developed and developing, countries of the north and countries of the south need to cooperate in this sort of global effort now.The very definition of growth has been enlarged to accommodate environmental and related concerns. . It is no longer possible to treat the environment with passive disregard. Sustainable development has been accepted widely as the strategy that marries the aspirations for growth and development with preservation of the environment.

The Prime Minister said, “At times of the newly liberalized we did not bear the depletion of the nation's natural resources as the cost of doing business silently and did not compromise. Our judiciary enforced laws passed by a farsighted legislature to ensure that these concerns were neither diluted nor dismissed. Our safeguards are now far more stringent. A major challenge ahead is to put in place a legal and regulatory framework which is effective in protecting the environment but without bringing back the hated license permit raj of the pre-1991 period.”

Giving an outline of national agenda for environmental protection to meet the challenges of disaster management and climate changeduring last last four years, Dr Singh explained, “We have a target for greening 10 million hectares of forest land to increase incomes of the poor through a national Green India Mission. Action for generating over 20,000 MW of solar energy by the year 2020 is underway. Our mission for enhanced energy efficiency will reduce substantially need for capacity addition. Our mission for sustainable habitat will develop standards for green buildings which we intend to make integral to our municipal laws. Our missions on sustainable agriculture and water conservation will increase productivity of dry land agriculture as well as increase efficiency of water use. All these steps will cumulatively lead us to a low carbon growth path. These are steps that we have decided to take on our own as responsible global citizens.”

Justice Sh S H Kapadia, Chief Justice of India, who was presiding over the function said, “The concept of environmental protection should be a continuous process in the context of what constitute clean, decent and viable environment. It is the case of applied ethics where governments and authorities have to look into. We need electricity for our huge population and industrial growth. We need clean energy.”

Giving details of India’s vast topography in reference to coastal Regulatory Zone, Justice Sh Kapadia said, “ We have to see the practical aspects of all problems for straight and zigzag coastline to implement the same order. This is one way of balancing ecology and livelihood. Most acute problem the Supreme Court faces today is the plants, buildings, projects come up and suddenly at the end, a PIL comes and we are there to decide post facto approval. Large investment is thrown out. In future conferences should look into this post facto approvals as Brithish System has done ‘Meets and Rationality’ development on scientific lines.”

Justice Sh Kapadia, further said that under the Environment Protection Act, we have public participation. He regretted to say that sometimes some village durbars and local bodies which initially grants okays NOCs, later on they turn back, they object the project to come up. It becomes difficult to deal with this kind of problems? Even in public participation, the views change for certain reasons at later date, he added.

Regarding judicial restraint he said, “As long as the principle of sustainable development are followed, Green Tribunal is now working. A case of what is called margin of appreciation should be applied, so that Ministry of Environment and Forests and other authorities can balance environment.” He suggested the Ministry to take into account a regulatory mechanism for enforcement of environmental issues. India is a vast country. We can’t just rely upon the report of project proponent. MoEF alone cannot have this appraisal in some of the cases. For mining, he elaborated, the regulatory mechanism should not be in charge of only term of appraisal, but also in charge of pricing. All norms and mining plans are there, but at the state level , they are being flouted for some reasons. We do not have machinery to supervise even mining plans for environmental protection. There is a biggest problem of pricing. Time has come when excavated minerals should be judged, auctioned or should have price determining mechanism. The ad valorem royalty is not considered which result in public sector companies earning less profit margin and the private companies earn huge profit margin because of differences between the royalties they pay to the government and the amount they realize abroad. Due to this, ill legal mining is going on in many states. A regulatory mechanism for appraisal and pricing are required.

Law Minister Sh Salman Khurshid said, “This gathering of global world from all sections of judiciary and governments was here to discover new concepts and new principles that will bind us together and secure environment for our succeeding generation with sense of confidence. Disasters, disease, concerns about life style we understand in the right context of economics, morality, management and philosophy.”

Minister of State for Environment and Forests, (I/C), Smt Jayanthi Natarajan said, “ We have eight missions started by our Prime Minister for preserving environment, reducing pollution, increasing green cover and climate change. They will reduce substantially need for capacity addition. All these steps will cumulatively lead us to a low carbon growth path.”

Justice Sh Altamas Kabir deliver keynote address. Justice Sh Swantanter Kumar welcomed the gathering.A special issue of the journal of the Indian Law Institute on ‘Climate Change and Environmental Law’ was released by the Prime Minister.

FICCI HEAL 2011

FICCI HEAL 2011

“From Dis-ease to Health-ease”

September 8 & 9, 2011

FICCI, Federation House, New Delhi

 

I am pleased to inform you that Federation of Indian Chambers of Commerce & Industry (FICCI) is organizing 5^th FICCI HEAL 2011, the two-day annual healthcare conference on September 8 & 9, 2011 at FICCI, New Delhi. The central theme of the Conference is “From Dis-ease to Health-ease”.

 

Preventive healthcare requires significant investment and coordinated efforts between different government agencies over a period of time to benefit society in the long run, typically making it economically unattractive for the private enterprise. In India, the absence of hygienic living conditions and clean drinking water results in communities to continue suffering from communicable diseases. The situation has been compounded with the increasing burden of life style diseases on both rural and urban population. As 80% of healthcare delivery is currently being provided by the private sector and is focused on curative care, the key issue to be addressed is how and what role private sector can play in supporting the government to focus on preventive healthcare.

 

The Conference would be a conglomeration of policy makers and national and international leaders from healthcare and associated industries. Our endeavor, through this conference, is to keep prevention as the core theme of the conference and deliberate on the emerging opportunities, challenges and solutions. We have invited Mr. Ghulam Nabi Azad, Hon’ble Minister, Ministry of Health and Family Welfare, Government of India to inaugurate the Conference. 

Shabana Azmi new-avatar-of-Audit Advisory Board

The film star Shabana Azmi is made a member of the newly set up Audit Advisory Board (AAB). This board is constituted by the government under Comptroller and Auditor General of India (CAG). AAB's main function is to advise the CAG in matters relating to audit and suggest improvements in the performance and focus of audit.Rohini Nilekani, ICICI Bank and Infosys chairman K V Kamath, social activist, film star Shabana Azmi have been made members of the newly set up Audit Advisory Board (AAB).

Comptroller and Auditor General of India Vinod Rai, who is its ex-officio chairman,. Its main function will be to advise the CAG in matters relating to audit and suggest improvements in the performance and focus of audit.

4th SAARC home ministers’ meet begins Saturday

4th SAARC home ministers’ meet begins today-The fourth SAARC Home and interior Ministers meeting is being held in the Bhutanese capital Thimphu today. Home Minister P Chidambaram will attend the meeting along with his counterparts from Afghanistan, Bangladesh, Bhutan, Maldives, Pakistan, and Sri Lanka. The meeting will consider the report of the home secretaries who met on Friday.- Ministerial Meeting will focus on strengthening regional efforts towards preventing and combating terrorism, the abuse of illicit traffic of narcotic drugs and human trafficking.

Menace of money power :EC

 Election Commission on Thursday told senior officers that neutrality was "non-negotiable" in elections,"Though there was no specific complaint, political parties have pointed out towards politicisation of bureaucracy during their meeting with us. We have told top officials that neutrality is non-negotiable and they should be 100 per cent neutral", Chief Election Commissioner S Y Quraishi told reporters.Claiming to have successfully controlled use of muscle power in elections, Quraishi said the EC would also check use of money power using its experiences in recent Assembly polls in five states."Use of muscle power in elections is history as is the case of booth capturing. Now we will be effectively keeping a tab on use of money power," Quraishi said.On the demand of some parties for early polls in the state, Quraishi said two parties wanted early polls in January-February citing harvesting season, competitive examinations and excessive heat in the later months as reasons."We will take a call on it later. We have to make preparations for four other states as well," he said.About the trend of paid news during elections, the CEC said the EC was legally examining ways to deal with it.

Bihar land scam

Congress on Wednesday strongly criticized Bihar Government for the land scam allegedly involving relatives of ministers and bureaucrats. The party spokesman Mr. Shakeel Ahmed told media in New Delhi that Congress is fully backing state unit.

India US trade,economic to-strengthen:Clinton

US Secretary of State Hillary Clinton Calls on Pranab Mukherjee,both Leaders Decide to Further Strengthen India US Strategic and Economic Partnership. This is Clinton's three-day visit and her second to India as secretary of state. Clinton said, civilian nuclear energy as a priority area, where the US and India "can and must do more".Further Clinton said,she was "encouraged" by renewed dialogue between India and Pakistan, which was "so necessary for us to deal with the underlying problem of terrorism".

Union Finance Minister Shri Pranab Mukherjee has said that India gives high importance to India US Strategic and Economic Partnership. He was speaking on the occasion when an official US delegation led by the US Secretary of State, Ms. Hillary R. Clinton called on him, here today. He stated that India is carrying its reforms agenda further by making major change in the tax sector – involving both direct and indirect taxes. Shri Mukherjee said that in the field of direct taxes, efforts are on to make Direct Tax Code (DTC) effective w.e.f. 1st April, 2012. In field of indirect taxes, efforts are also on to build a consensus among all the stakeholders including state governments to make Goods and Services Tax (GST) effective at the earliest. He said that Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI) are expected to finalize the guidelines of Infrastructure Debt Fund soon which would help in expediting investment by the US companies in India.

Speaking on the occasion, US Secretary of State Ms. Clinton hoped that the relationship between India and US in the field of trade, infrastructure investment, business, defence and strategic matters would be further strengthened. She said that US India have excellent working relationship especially in field of economic and financial partnership. She said that India can play a major role in enhancing regional economic cooperation and optimizing the large potential available in this region. She specifically mentioned that India can play a major role in the economic development of Afghanistan. Responding to that Shri Mukherjee said that India is already engaged in economic development of Afghanistan and helping it in building roads and improving power generation among others.

Shri Pranab Mukherjee said that India would make efforts to ensure that the India US participation in trade, investment, agriculture and education further expand in future. The US delegation consists of Mr. Robert O’ Blake, Asstt. Secretary, Mr. Daniel B. Poneman, Deputy Secretary, Energy, Ms. Elizabeth Littlefield, Head of Overseas Private Investment Corporation among others. The Indian delegation included among others Ms. Meera Shankar, India’s Ambassador to US, Shri R.S. Gujral, Revenue Secretary and Dr. Kaushik Basu, Chief Economic Advisor.

GoM approves additional Equity infusion of Rs 1200 crore for Air India

GoM decides additional equity infusion of Rs 1200 crore for Air India
A group of ministers on civil aviation has decided in-principle additional equity infusion of 1,200 crore rupees to Air India. Government decided payment of 532 crore rupees to national carrier for operating VVIP and rescue flights.

Speaking to reporters on Monday after the meet, civil aviation minister Vayalar Ravi said the GoM would again meet next week to finalise the payment details.Mr Ravi said a consensus has been reached on expediting equity infusion and implementing the revival plan.The panel is expected to take a final call on Air India’s turnaround and financial restructuring plans - prepared by the State Bank of India’s financial advisory arm SBI Caps - at its next meeting.

Hina Rabbani Khar elevated Foreign Minister of Pakistan.

Hina Rabbani Khar will be the new Foreign Minister of Pakistan.
 Prime Minister Yusuf Raza Gilani has sent the summary to President Asif Ali Zardari, Geo News reported.
Prior to this development Hina Rabbani Khar was serving as the State Minister for Foreign Affairs.

Cash-for-vote scam: Police make first arrest

Delhi Police on Sunday made its first arrest in the cash for vote scam case picking up Sanjeev Saxena, believed to be an aide of Amar Singh, for allegedly trying to bribe BJP MPs ahead of UPA govt's trust vote in 2008.

A senior police official said the investigators would also question expelled Samajwadi Party leader Amar Singh and a few others in the coming days.

Police sources said, Saxena was arrested on Sunday afternoon following his questioning in connection with the probe into the incident which came to light on 22^nd July 2008 when BJP MPs displayed wads of notes in Lok Sabha alleging that the money had been offered as bribe to them.

Saxena has been charged under the Prevention of Corruption Act, police said. The BJP had alleged that Saxena was Amar Singh's aide and he was allegedly caught on camera giving money to the BJP MPs.They had also alleged that it was Saxena who called Amar Singh from his mobile phone and got the three MPs to talk to him in order to fix a deal.Amar Singh had denied any role and had also distanced himself from Saxena."He (Saxena) was arrested from Delhi by Crime Branch team. There was evidence against him in this case. He will be produced before the court tomorrow," a top police official said.The allegation was levelled by then BJP MPs Ashok Argal, Faggan Singh Kulaste and Mahavir Bhagora.

The MPs alleged that it was Saxena who had delivered Rs one crore in cash to them at the 4 Ferozshah Road residence of Ashok Argal on 22^nd July 2008, hours before the vote of confidence in Lok Sabha.The sources said police had questioned Khulaste and Bhagora in connection with the case about two months.The police action came two days after the apex court came down heavily on Delhi Police for its "callous approach" in probing the scam and asking why it has not taken action so far against those involved in the case.

In strong words, the court had said, "We are not happy at all with the probe done by the Delhi Police. This is not the way to probe the offence of such serious nature."

A seven-member parliamentary panel had probed the allegations and asked the Delhi Police to investigate the role of Saxena, besides that of Sudheendra Kulkarni, a former aide of BJP leader L K Advani, and Suhail Hindustani in the case.The apex court had expressed concern that no progress has been made by the police in the case."Investigation has been done with callousness on the complaint filed by Lok Sabha Secretary," it said.The bench said it was "fully dis-satisfied" with the status report filed by the police and pulled it up for not carrying out custodial interrogation.

The court was hearing a petition filed by former Chief Election Commissioner J M Lyngdoh seeking directions to the government to take action against politicians involved in the scam.

Swiss Central Bank:Indian holders over USD 2bn

Swiss Central Bank has put estimates the total liabilities of Swiss banks towards Indian holders at about USD 2.5 billion in 2010 , against projections of about USD 1.5 trillion by experts,political parties,NGO's. 
Media reports, to the data provided by the Swiss bank, India has more black money than rest of the world combined. India topping the list with almost $1500 Billion black money in swiss banks, followed by Russia $470 Billion, UK $390 Billion, Ukraine $100 Billion and China with $96 Billion. http://www.iretireearly.com/1-4-trillion-indias-black-money-stashed-in-swiss-banks.html

"The Swiss National Bank  only say that liabilities of Swiss banks towards Indian holders according to our annual statistics... were Swiss francs 1.945 billion [USD 2.5 billion] in 2010," Walter Meier, the spokesperson for the Swiss National Bank President, told PTI. He said the liabilities of the Swiss banks towards Indian holders were Swiss francs 1.965 billion (USD 2.7 billion) in 2009 and Swiss francs 2.4 billion (about USD 3 billion) in 2008.

  Aftermath of the financial crisis of West after the the collapse of the Lehman Bank in the United States in 2008, Swiss private banks, UBS,  suffered huge losses. A substantial withdrawals of funds from Swiss banks.Many legal cases against banks, UBS, for parking funds by wealthy US citizens tax evasion, plus infuriating  international pressure from the Paris-based OECD (Organization for Economic Cooperation and Development) along with G-20, financial regulation forced the Swiss government to considerably relax their secrecy  confidentiality provisions of numbered accounts. Swiss government thus gradually relaxed its banking secrecy laws.

EU,chapter, Organization for Economic Cooperation and Development’s (OECD) in its report,has  listed "uncooperative" countries such as Switzerland, Luxembourg, Austria and Liechtenstein, to the G-20, thus a panic reaction.OECD formulated a set of strong rules and standards to curb banking secrecy laws in the offshore tax havens that include the Isle of Man, Hong Kong, and Singapore along with Switzerland, Liechtenstein Monaco, Austria and Andorra.Reported, Indian companies and private holders have moved funds from Switzerland to Singapore following the financial crisis in 2008.Trends suggest that Switzerland continues to attract funds on a huge scale, its banks are now in robust health even as other industrialized countries are drowned in unprecedented fiscal crises."The strengthening of the Swiss frank against all major currencies over the last one year is a clear sign that funds are coming back to the Swiss banks," said an Indian banker in Geneva, anonymously.Walter Meir said, Swiss government is holding negotiations with the governments on the proposal of having a "withholding tax" on assets held by foreign entities in Swiss banks, suggesting that he doesn’t have any information about India looking at a similar arrangement.

India  opened  window for money laundering in late 90s in Mauritius and  is actively used now for carrying out illegal money transactions,there are 9000 international corporations and financial institutions including Swiss Private banks registered in Mauritius  are doing business in India and investing in Indian stock /commodities markets. Mauritius  becomes the defacto route for FDI and FII money flow in and out of India,Reports NGO-would not take much time to get the banks in India to provide the reports of all the cash inflows and outflows from and to to all these tax havens including Mauritius in the past 10 years in matter of weeks this can be done - these reports are also filed with RBI
Tax heavens, Swiss, Cayman, BVI, Guyana, Jersey and a host of other countries over 70 tax heavens not just tax treaties also extradition treaties with governments who are known to encourage asylum like US /EU/ Canada /UK.

Five LeT militants, one jawan killed in JK Kupwara

Five militants have been shot dead while an Army jawan laid down his life and four security personnel injured in a fierce gunbattle in Jammu and Kashmir’s Kupwara district on Friday.

Troops of 18 Rashtriya Rifles and special operation group of local police had launched a search-cum-cordon operation in Maidanpora village in Lolab, in the wee hours on Friday following information about the presence of foreign militants.In an effort to escape the armed forces, the militants had entered the house of local. The army waited for civilians to evacuate before the operation to eliminate the militants began. The operation came to end after 10 long hours.

One army jawan identified as Nayak Sumer Singh from Nagaur district of Rajasthan was killed while another received a bullet injury in his stomach, a police spokesman said. Besides this, four others
including an army captain received minor injuries in the operation. 

Singapore:Opp party member Tan Jee Say-to-contest Prez Election.

Singapore:Opposition party member Tan Jee Say said on Friday he is stepping forward to contest the Presidential Election.
Mr Tan collected forms for the Certificate of Eligibility from the Elections Department on Friday morning-
Mr Tan said he is doing so because many Singaporeans want a non-PAP President whose independence of the PAP is clear, obvious and cannot be in doubt.

India and US to Sign Bilateral Aviation Safety Agreement Dr. Zaidi “India Aviation-2012”

India and US to Sign Bilateral Aviation Safety Agreement Dr. Nasim Zaidi Launches “India Aviation-2012” Dr. Nasim Zaidi, Secretary, Ministry of Civil Aviation launched “India Aviation-2012”, the 3rd international Exhibition and Conference on Civil Aviation here today. The event will be held at Begumpet Airport from 14-18th March, 2012. Addressing on the occasion, Dr. Zaidi said that it would be necessary to redefine the parameters of regulation in order to assure travelers the guarantee of safety. The ministry is considering restructuring the DGCA into a Civil Aviation Authority (CAA). In order to prevent repetitive accidents, an Independent Civil Aviation Accident Investigation Committee has been set up within oversight of Ministry of Civil Aviation to coordinate and oversee the investigation into accidents and also effective follow up of compliance of recommendations. Steps are under way to set up a full-fledged Independent Accident Investigation Board. He announced that a land mark Bilateral Aviation Safety Agreement has been approved by the Cabinet and will be signed with USA, during the visit of Ms. Hilary Clinton, US Secretary of State. The proposed agreement will open up huge market for export of aeronautical products manufactured in the country in USA and other regions of the world. This will open up huge potential for investment.

Emphasizing the passengers’ facilities and consumer protection, he said that the rights of the passengers need to be respected and protected at all times. The significant steps for consumer protection has been taken through CARs on disability related rights, refunds, cancellations, delays, over-bookings and denied boardings. He suggested that Airlines and Airports should compete with each other in offering to passengers better of facilities, services and protection of their rights. He announced that a task force is working in Ministry to prepare an outline to set up an Ombudsman institution in civil aviation sector. Ministry of Civil Aviation has also set up an Innovation Council to suggest primarily IT lead innovations to improve products, services and customer related matters by airlines, airports and air traffic management service providers.

Dr. Zaidi also announced that the Ministry of Civil Aviation is also proposing to declare 18th February every year as Civil Aviation Day.

On connectivity, he said that the Ministry is reviewing policy of route dispersal guidelines to enhance connectivity in inaccessible areas and islands of the country. With a view to increase regional connectivity, regulatory framework pertaining to schedule and regional operators is also currently being reviewed to ensure that regional connectivity gets boost with the support of Airports Authority of India and private sector participating in the development of Tier II and Tier III cities. A task force is also working to examine the ways and means required to cut transaction time, cost and various other measures to simplify procedures to improve business environment with regulatory authorities.

Highlighting the growth of Civil Aviation Sector that the Secretary said that the sector has registered phenomenal growth in India in past decade. Passenger traffic has grown at 18% year on year basis and the year 2010 closed at 90 million passengers both domestic and international. India is the fastest growing aviation market and expected to be within 4-5 big aviation markets by 2020 and 3rd in terms of domestic market after US and China. India will cross 450 million mark of domestic passengers by 2020. During the last two decades from a fleet of only about 100, the scheduled operators today have 435 aircrafts connecting the nation and the world. It is projected that the center of gravity in the aviation industry will be shifting to the Asia-Pacific region in the coming years. Considering the geographic position of India, it has the potential to become an aviation hub at the cross roads between Europe/ Middle East and Asia Pacific. He informed that T-3 Terminal at Delhi International Airport is already evolving into a hub. About 11000 passengers are transiting from various spokes to different destinations in the world by utilizing spoke and hub system. Air India is already contributing to this growth including Jet Airways. It is also proposed to develop Mumbai and Chennai as hubs in next 2 years.

The “India Aviation-2012”, the 3rd international Exhibition and Conference on Civil Aviation is being organized by the Ministry of Civil Aviation jointly with the Federation of Indian Chambers of Commerce & Industry (FICCI). It will witness participation of over 250 exhibitors comprising of Aircraft Manufacturers, Aircraft Machinery & Equipment Companies, Aircraft Interiors, Airlines, Airlines Services & Air Cargo, Skill Development, Airport and Infrastructure, MROs. The exhibition will be spread over as area of 20,000 square meters. UK is the partner country for the 2012 event with France as Focus country and USA as the Guest Country. The Host State is Andhra Pradesh and the Overseas Associate for the show is Famborough International Ltd.

Apart from the Exhibition, India Aviation-2012 will have a conference on policy issues and business aspects of the civil aviation sector, a CEOs Forum representing chief executives of leading aviation companies, Chalets, Static Display, Demonstration Flights and Media Conferences.

Afghan president,brother-Ahmed Wali Karzai-shot dead

Ahmed Wali Karzai, the younger brother of the Afghan president, was shot dead in the southern city of Kandahar on Tuesday, officials said.The killing of his chief local power broker will be a huge loss for President Hamid Karzai in Kandahar, the heartland of the Taliban insurgency as NATO troops rush to start withdrawing combat troops after a decade of war.Initial details were sketchy, with a family friend telling a news agency on condition of anonymity that he was killed by a bodyguard while entertaining guests at home and an Afghan intelligence official saying he was shot dead by a guest.

"We can confirm he has been martyred," Kandahar provincial government spokesman Zalmay Ayubi told a news agency, providing no further details.

India's outward FDI halves to $5.47 bn in June

India's outward FDI halves to $5.47 bn in June

Overseas investments by Indian companies halved to USD 5.47 billion in June, while Mundra Port and Bharti Airtel emerged as the top players in committing investments abroad.

Outward flows totalled USD 12.27 billion in June 2010.In the first three months of this fiscal (April-June), outward FDI stood at USD 10.57 billion.The is much lower than USD 18.26 billion recorded in the June quarter of 2010-11.

As per the RBI data released on Tuesday, Indian firms issued financial guarantees worth USD 3.9 billion, loans worth USD 937 million and contributed USD 641.37 million towards equities.Mundra Port and SEZ extended a guarantee of USD 2.25 billion to its wholly-owned subsidiary Mundra Port PTY Ltd in Australia, RBI said. The subsidiary is engaged in construction activities.

Telecom major Bharti Airtel made overseas investments worth USD 494.5 million through three separate deals last month.The total investment was spread across the Netherlands (USD 140 million), Singapore (USD 350 million) and Mauritius (USD 4.5 million).As per the RBI data, the other major players include, RHC Holding Private Ltd (Mauritius), Suzlon Energy (Mauritius) and Aurbindo Pharma (USA).

While FDI outward data is available for the first quarter, latest figures for inward foreign direct investment is only till May.FDI inflows saw a whopping 111 per cent increase in May at USD 4.66 billion, the second highest monthly inflows in 11 years.In May, 2010, the inflows had totalled USD 2.21 billion.For the April-May period of the current fiscal, the FDI went up by a huge 77 per cent to USD 7.78 billion from USD 4.39 billion in the corresponding period last year.

Leaders-file nomination papers for Rajya Sabha

Leaders-file nomination papers for Rajya Sabha from Gujarat. Senior Congress leader Mr. Ahmed Patel filed his nomination papers for Rajya Sabha in Gandhinagar today. Two other candidates, who have filed their nominations include TV star Smriti Irani and Mr. Dilip Pandya- both from the BJP. Three Rajya Sabha seats are falling vacant in the state this month and elections to fill up the vacancies is scheduled on 22nd of this month. Our Ahmedabad Correspondent reports that 12th July is the last day for filing of nominations.

Tamilnadu, Popular TV host Mr.Rabi Bernard today filed his nominations for the lone Rajya Sabha seat. He was nominated for the Rajya Sabha on behalf of the AIADMK Party. The filing of nominations will end tomorrow and the withdrawal of nomination is on the 15th of this month. The lone vacancy arose after the resignation of Mr. K.V.Ramalingam who contested the Assembly election and is now a minister in the State Cabinet. The date of poll is on the 22nd of this month.

US suspends aid to Pakistan

US suspends 800 million US dollar aid to Pakistan

Angered by Pakistan's reluctance to go full throttle in the war against terror, the US has disclosed that it has suspended 800 million US dollar worth of military aid to it.

White House Chief of Staff Tom Donilon while confirming the suspension of the aid, described the relations with Pakistan as difficult and that it must be made to work overtime.

The suspended aid is about one-third of the 2 billion US dollar in annual American security assistance to Pakistan.

tsunami reaches Japan after strong quake

July 10, 2011 TOKYO:An earthquake jolted north-east Japan, the same area that was devastated four months agoand triggered a small tsunami in Iwate prefecture, measuring 10c.7.0 Mw - OFF EAST COAST OF HONSHU, JAPAN. Date-Time 10 Jul 2011 00:57:12 UTC 10 Jul 2011 10:57:12 near epicenter 10 Jul 2011 04:57:12 standard time in your timezone Location 38.040N 143.287E Depth 34 km Distances 212 km (131 miles) E (96 degrees) of Sendai, Honshu, Japan 237 km (147 miles) ENE (62 degrees) of Iwaki, Honshu, Japan 250 km (155 miles) E (81 degrees) of Fukushima, Honshu, Japan 411 km (255 miles) NE (49 degrees) of TOKYO, Japan

A small tsunami reached the Pacific coast of northern Japan Sunday after a strong quake hit the region heavily damaged by the March earthquake and tsunami, the Japan Meteorological Agency said. The port town of Ofunato, Iwate prefecture, saw a 10-centimetre (four-inch) tsunami at 10:44 am (0144 GMT), the agency said. The Japanese weather agency issued a tsunami advisory for Iwate, Miyagi, and Fukushima prefectures after a 7.1-magnitude earthquake struck off the main island of Honshu at 09:57 am (0057 GMT). No damage has been reported from the tsunami and quake. Japanese weather agency expected a small tsunami of up to 50 centimetres (20 inches) along the affected region along the Pacific coast. Television footage of the port in Ofunato did not show any sign of the tsunami, with the water surface seemingly calm and flat. The agency issued the tsunami advisory shortly after the offshore quake in the same general area as the 9.0-magnitude quake of March 11 which triggered a massive tsunami.The US Geological Agency, which also estimated the magnitude at 7.1, said the offshore quake hit at a depth of 10 kilometres (6.2 miles).

Rahul Gandhi address Aligarh Kissan Maha-Panchayat

 Rahul Gandhi reach Aligarh Airport for Kissan Maha-Panchayat  reports DD news  is on his way to Exhibition Ground Aligarh.Congress National General Secretary Rahul Gandhi has arrived in Aligarh this afternoon to participate in the Kisan Maha Panchayat at Numaish Maidan of the town.
Union Ministers, Sachin Pilot, Salman Khurshid, Jitin Prasad, Congress leaders Parmod Tiwari,Ritu Bahuguna Joshi UPCC,Sriprakash Jaiswal,Parvez Hashmi too made their presence at Maha Panchayat.Rahul Gandhi said with this interaction he has been able to know more about the Kissan community grievances and may not be able to experience the same at stay in New Delhi. Terming his foot march as an unforgettable experience, Rahul Gandhi has said he gained a world of knowledge on land acquisition issues,an unforgotten knowledge in lifetime.Agrarian society from surrounding states are present in this Maha-Panhayat begins today at 11.AM. He is to deliver half an hour lecture after four days of his walks across the villages of UP starting from NOIDA ends at Mathura. Congress National General Secretary Rahul Gandhi’s foot march conclude Saturday at Aligarh, where he is slated to participate in a Kisan Maha Panchayat at the Exhibition Ground.Ritu Bahuguna Joshi President UPCC made inaugural and welcome speech and asked Parmod Tiwari to address the Kissan Maha-Panchayat who compared the Rahul four days UP walk with Gandhi Quit India movement of 1942.
Rahul addressed the rally taking on Mayawati,for next year Assembly elections, Gandhi said Land acquisition  in Uttar Pradesh a farmer comes to know about his land only when the builder comes and tells him that the land belongs to him,further to remarks about his padyatra nautanki.or drama he added  “A politician needs to go to people and talk to them and that is what I believe".Winding up his four-day 'padyatra' in the battle against Uttar Pradesh Chief Minister Mayawati, Congress leader Rahul Gandhi today accused her government of acquiring farmers' lands for golf courses,colonies  and racing tracks and beating,firing upon poor farmers as they protest.
“We will try to bring such a law that will benefit the farmer. But only changing the law won’t help because the same law exists in Haryana and UP but Haryana government takes people into confidence and talks to them.
“UP government doesn't talk to the people. When a farmer demands his rights government orders firing on him,” Rahul Gandhi said "Farmers are not against development."
Describing the new land acquisition policy announced by BSP government as misleading the farmers, he said it is not helping the farmers who have already lost their land. He reassured the farmers that proposed Land Acquisition Bill prepared by the centre will be in favour of them. He also alleged that welfare schemes including right to education and Mid-day meal initiated by the centre are not being implemented by state government properly.His foot march flagged off from twin villages Bhatta Parsaul in Gautam Buddha Nagar district on Tuesday. Congress leader visited more than one dozen villages affected with the Yamuna Expressway project in three districts of Aligarh, Mathura and Gautam Buddha Nagar.
BSP spokesman briefed media in Lucknow said, almost 80 per cent of the crowd of mahapanchayat was due to lure of  ticket-seekers and farmers' presence was nearly twenty per cent. BSP spokesman too questioned Gandhi's view of separate land acquisition policy for housing and development added BSP government in the state already enacted a "progressive and farmer-friendly policy covering both these areas and it would have been better had he praised the UP government for it".