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

1. WEEKLY INTERNATIONAL
NEWS WRAP
AUGUST 21 – AUGUST 27, 2012

2. Weekly International News Wrap
South Africa keen to have lowest level this year, a survey ever before in the US, as the
Indian investments of six traders and an analysis measures adopted by that
South Africa and India are set of loading plans obtained by country have made it harder
to reach a target of trade Bloomberg News showed. and costlier for Indian
worth $15 billion by 2014 and Read more>> software professionals to
South Africa is keen about travel on work to their
Indian investment in the Former Ethiopia PM Meles main market. Read more>>
country, its Deputy Minister Zenawi helped extend India's
for Trade and Industry footprint in Africa Biz sentiment in US better
Elizabeth Thabethe said. Read In 2008, India was shopping than Europe: Kris
more>> for votes in support for the Gopalakrishnan, Infosys
nuclear deal in the IAEA. And, Business sentiment in the US is
Mine tragedy highlights South the then Ethiopian PM Meles better than Europe on account
Africa investment risks Zenawi gave it without of the dynamic nature of its
The bloody confrontation hesitation. As he told Indian economy, Infosys Executive
between striking South African diplomats, "India's growth is in Co-Chairman Kris
miners and police last week Ethiopia's interest." Read Gopalakrishnan said. Read
has raised hard questions more>> more>>
about investing in Africa's top
economy and the ruling ANC's Zambia keen on Indian Indian IT companies like Tech
ability to deliver on overdue investment, tripling trade Mahindra hire immigration
promises of job creation and The Republic of Zambia plans lawyers in the US
change. Read more>> to attract Indian investments An increasing number of
in energy, agro processing, Indian IT and BPO companies
Noel Tata frames strategy to manufacturing, construction are hiring visa experts and
take group on African safari and tourism. Investments are immigration lawyers in
Noel Tata, the brother-inlaw of also invited in developing its the US to ensure that
Tata group chairman designate national parks. Read more>> every visa petition they file is
Cyrus Mistry, is embarking on fully compliant with
a major push into the African Govt plans sops to boost SEZ immigration, labour and wage
market 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 economy
an area full of latent potential Botswana, with Indian unlikely to clear soon
waiting to be tapped by the assistance of $2.7 million. The cloudy state of the US
saltto-software group. Read Read more>> economy has put the Federal
more>> Reserve in a fix. The central
Africa Shows Increasing bank seems increasingly willing
SA’s private sector most feisty Economic Growth, Says Ex- to take another stab at
in Africa Belgium PM stimulating the economy, but
South 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 with
Africa”, particularly in an average of more or less six China investment in US rises
Anglophone countries, percent every year,” says Guy despite tough talk
according to Martyn Davies, Verhofstadt, former Belgian US presidential candidates talk
the chief executive of Prime Minister. “You see also a tough on fighting what they
consultancy Frontier Advisory. growing middle class, an see as China's unfair trade
Read more>> emerging middle class.” Read policies, but Chinese
More companies are investing more
Asia to Cut West African than ever in the US and
Crude Imports for September IT cos like TCS and Infosys supporting thousands of
by 9.4% take hit due to subcontracting American jobs. Read more>>
Asian refiners will reduce and denial of US visas
imports of West African crude Information technology US Stock Futures Slump on
in September by 9.4 percent companies are being forced to Downbeat Jobless Claims Data
from August to near the subcontract more work than
FICCI – Industry’s Voice for Policy Change

3. Weekly International News Wrap
US stock futures ticked lower, nurture talents and build A Japanese government-
erasing earlier gains, with human resources. With this affiliated lender will take a
hopes for more stimulus action perspective, the India China 26% stake in an Indian
from the Federal Reserve Economic and Cultural Council company charged with
giving way to worries about (ICEC) in association with building a massive
worse-than-expected jobless Government of Sichuan and infrastructure project linking
claims data. Read more>> Ministry of Education of China Delhi and Mumbai, as Tokyo
is organizing a round table seeks to increase its
Canada’s banks want to tame discussion on 'Management infrastructure-related exports
watchdog’s bite Studies & Areas of Possible to emerging markets. Read
Canada’s banks want the Cooperation between India & more>>
federally mandated customer China' during the 2012
complaints ombudsman Education Forum for Asia Over 1.5 lakh Pakistanis
stripped of the power to track Annual Conference. Read arrived in India in last 3 years
and investigate systemic more>> Minister of State for Home
problems in the way they do Mullappally Ramachandran
business. Read more>> Japan-ease for Ahmedabad informed the Lok Sabha that
roads 53,137 Pakistanis arrived in
India, China meet to resolve For the first time in the the country in 2009, 51,739 in
trade matters, strengthen ties country, the Japanese 2010 and 48,640 came in
Beijing assured New Delhi of government will aid an Indian 2011. Read more>>
resolving the issue of trade city - Ahmedabad, in
highly lopsided in favour of implementing an Intelligent Negative list regime to boost
China, by giving greater Traffic System (ITS). From exports to Pakistan:
market access to India in getting real-time traffic Jyotiraditya Scindia
information technology (IT), diversions on your mobile Exports of farm produce,
agriculture and phone, to spending less time textiles chemicals and auto
pharmaceutical sectors. Read on traffic lights, reducing components are expected to
more>> accidents to live updates on get a boost by the Pakistan's
electronic display boards at move to allow trade in more
India-China to have 5-yr traffic junctions or an number of goods; Parliament
economic cooperation plan accident, the system will do it was informed by Minister of
India and China have agreed all. Read more>> State for Commerce and
to a five-year plan on Industry Jyotiraditya Scindia in
economic cooperation as well Japan's Suzuki Motor a written reply to the Rajya
as setting up a joint working Corporation chairman Osamu Sabha. Read more>>
group (JWG) to go into all Suzuki visits Maruti's
trade related issues, violence-hit Manesar plant SBI, Bank of India allowed to
Commerce Minister Anand Chairman of Japan's Suzuki operate in Pakistan
Sharma said. The JWG, Motor Corporation Osamu India and Pakistan have agreed
comprising senior officials Suzuki on Monday visited the to allow two banks each from
from both sides, would be set violence-hit Manesar plant of both the countries to set up
up soon and will submit its the company's Indian arm branches across the border,
recommendations within Maruti Suzuki.According to a Governor of the State Bank of
three months. It would company source, Suzuki Pakistan, Yaseen Anwar said
nd
continue to work on inspected the plant, that was on 22 August, 2012. Read
investment and trade-related damaged during arson and more>>
matters thereafter. Read violence on July 18 in which
PNB seeks to open branches
more>> 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 to
discuss management studies in the afternoon. Read
open branches in Lahore and
between India, China more>>
Karachi, a move that can signal
As China and India bond to
wider range of trade and
boost business ties, the JBIC to Take Stake in Delhi-
financial ties between India
education 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 Wrap
Pakistan 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 granting
Pakistan wants to resolve all and good governance he had more Indian access to its
issues including Kashmir, ushered in his own state. markets would destroy that
Siachin 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 of
people contact, and parliamentarians from Sri Lanka India J/V to double
cooperation in health and Pakistan, led by secretary car tyre capacity
education sectors, PPP general of Pakistan People's CEAT Kelani Tyres a Sri Lanka
Secretary General Senator Party and leader of the house India joint venture is planning
Jahangir Badr said. Read in senate Jehangir Badr. Read to double capacity to produce
more>> more>> up to 500,000 car and van
tyres a year, at a cost of billion
India, Pakistan MPs moot new India-Pakistan: Slow progress rupees, chairman Rohan
CBMs in trade talks for petroleum, Fernando has said. Read
Ahead of External Affairs power more>>
Minister S.M. Krishna's visit to Plans of India exporting petrol
Islamabad, parliamentarians of and power to Pakistan are Sri Lankan government shuts
India and Pakistan making a "slow" progress as down universities
recommended a clutch of Islamabad continues to be The Sri Lankan Government
radical confidence-building wary of being dependent on its has shut down all universities
measures, including allowing neighbour for meeting energy in the country for an indefinite
travel by citizens across the needs, impacting full period amidst a row about the
border in their own vehicles normalisation of bilateral future of education in the
and visa-free access for trade. Read more>> nation. Read more>>
educationists and senior
citizens. Read more>> Pak parliamentarians floats Nepal fails to take benefit of
soft transportation policy GSP facility
Dewan Group attracts Indian between two countries Nepal has failed to take
investment in cement, fibre The Pakistani parliamentarians benefit of the facility of
With a view to cementing have floated the idea of soft Generalised System of
trade ties between Pak-India transportation between India Preferences (GSP) provided by
relations, the Dewan Group is and Pakistan during meeting the US, according to a high
in talks for joint ventures with with their Indian counterparts level US representative. Read
Indian 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 Sri
said. Read more>> India-Pakistan: Slow progress Lanka through tourism
in trade talks for petroleum, Two South Asian countries
Normalisation of Pak-India power Nepal and Sri Lanka which had
ties vital for regional peace: Plans of India exporting petrol tremendous tourism potential
Gilani and power to Pakistan are but could not exploit them
Former prime minister and making a "slow" progress as properly are now to launch a
PPP Senior Vice Chairman Islamabad continues to be tourism development
Yousaf Raza Gilani on Saturday wary of being dependent on its campaign jointly. Read more>>
said that normalisation of neighbour for meeting energy
relations between India and Campco seeks curbs on
needs, impacting full
Pakistan held the key to peace arecanut import thru Nepal,
normalisation of bilateral
and prosperity of millions of Bangladesh
trade. Read more>>
poverty-stricken people of the The Central Arecanut and
two countries. Read more>> Sri Lanka not keen on CEPA Cocoa Marketing and
with India Processing Cooperative
Pak invites Nitish Kumar to Sri Lanka has apparently (Campco) Ltd has said that
replicate his funda of growth informed Indian authorities it Nepal and Bangladesh are
Bihar chief minister Nitish was not keen on having a exporting huge quantities of
Kumar will be visiting Pakistan Comprehensive Economic arecanut to India. Read
more>>
FICCI – Industry’s Voice for Policy Change

5. Weekly International News Wrap
India, Iran, Afghanistan to New Delhi this week to work State asks NGO to submit
hold talks ahead of NAM out the terms of reference to development project
summit jointly study of the dam's proposals for enclave
Ahead of the NAM summit, impact. Read more>> residents
India, Iran and Afghanistan will West Bengal government has
hold a strategic trilateral meet Barge movement on Indo- asked the Bharat Bangladesh
in Tehran in which key issues, Bangla trade route to bypass Enclave Exchange
including regional security and Sunderbans Coordination Committee
economic situation and best The barges engaged in the (BBEECC) to submit a proposal
utilisation of Chabahar port, a transportation of goods by for development projects in
significant 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 South
SAARC's success depends on the Indian side of the Asian nations to combat
India, Pakistan: National Sunderbans. This follows the poaching
Conference Centre’s decision to bypass the Acknowledging that the
Jammu and Kashmir's ruling core area of the Sunderbans. problem cannot be fought
National 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 Asian
India-Pakistan relations can km, falls outside the core area. nations are working together
not only bring stability to the Read more>> to combat wildlife poaching –
region but also holds the key an illegal but lucrative trade
to the success of SAARC. Read Wages in Bangladesh Far which bets an estimated Rs 1.1
more>> Below India trillion ($20 billion) annually.
India’s neighbor Bangladesh Read more>>
State picked for Saarc has become the second-largest
education meet apparel exporter in the world, Bangladesh: DBBL formally
Jharkhand is the only state in after China, but labour unrest launches mobile banking
the country chosen to is growing as workers demand services in Bangladesh
participate in the South Asian higher wages. Read more>> Dutch-Bangla Bank Ltd
Association for Regional formally launched mobile
Cooperation (Saarc) India to construct bridge over banking in partnership with
conference on Early Childhood river Feni Airtel Bangladesh Ltd. Read
Care 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 gets
more>> bridge on Feni river in Tripura undersea cable back-up
that would connect the state's Bangladesh has finally got the
India ratifies Saarc accord on
South district with Chittagong much-needed back-up for the
natural disasters
division in Bangladesh. Read lone undersea cable by way of
India became the first country
more>> terrestrial connectivity, with
to ratify the Saarc Agreement
commercial operation due in
on Rapid Response to Natural
India for friendly ties with September. Read more>>
Disasters, South Asian
main political parties to get
Association for Regional Co-
transit Khaleda likely to visit India,
operation (Saarc) Secretariat in
The alliance government in China soon
the Nepali capital Kathmandu
India is likely to pursue friendly BNP chief Khaleda Zia is likely
said. Read more>>
relations with the mainstream to visit India and China soon to
Indo-Bangla sub-group on political parties of Bangladesh discuss bilateral issues and
Tipaimukh meets to finalize with an aim to achieve also the next general election
ToR permanent rail and road of Bangladesh, party insiders
The Indo-Bangladesh joint sub transit to the northeast, have said. Read more>>
group on the proposed political monitors said in
Tipaimukh Hydroelectric Dhaka. Read more>> An Indian bridge to boost
Project met for the first time in neighbourhood trade
FICCI – Industry’s Voice for Policy Change

6. Weekly International News Wrap
A bridge to be built by India Myanmar, Europe, US, Brazil Foreign Investment at
over River Feni in Tripura for Caribbean, Australia & New Highest Since December 2010
gaining access to Bangladesh's Zealand, South Africa, Middle Brazil’s foreign direct
Chittagong sea port would not East, Asia including South East investment in July reached the
only facilitate transport of Asia. Read more>> highest level since December
goods to the Northeast but 2010 and may exceed the
also boost trade and economic Latin America most urbanized central bank’s $50 billion
ties with neighbouring region in the world: UN projections this year as
countries. 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 Program
meet on proposed dam (UN-Habitat) in Rio de Janeiro, India Inc less transparent than
The crucial Bangladesh-India the region of Latin America peers in Brazil, China
joint sub-group on the and the Caribbean is the most India Inc is less transparent
proposed Tipaimukh Dam is to urbanized of the world. Read than its peers in Brazil, China
meet in New Delhi for their More>> and South Africa when it
first meeting next Monday and comes to reporting about
are expecting to formulate a Argentina's July Trade Surplus economic, social,
terms of reference (TOR) for Swells to US $1.01 Billion environmental and
studying the impact of the Argentina's trade surplus governance issues concerning
much-debated project, soared to $1.01 billion in July, their business, according to a
officials said in Dhaka. as government import barriers non-profit organisation
Read more>> helped offset sluggish growth working for a sustainable
in exports. Read More>> global economy. Read More>>
Army chief on 3-day visit to
Bhutan Latin America Proving Fruitful Toyota, Nissan put on hold
Army Chief Gen Bikram Singh Territory for Business Jet launch of high-end cars Lexus
is on a three-day visit to Makers & Infiniti in India.
Bhutan. He will hold Business jet makers, still Japanese carmakers Toyota
discussions with the top searching for global economic and Nissan have put the
leadership there to further stability, are finding more solid brakes on their plans to launch
strengthen military ties footing in Latin America and luxury brands Lexus and Infiniti
between the neighbours. Read have taken efforts to expand in the country, partly because
more>> their presence in the region. India's free trade negotiations
Read More>> with European Union may
Govt mulls fee formula for make German rivals BMW,
Bhutan transit IAF chief in Brazil to promote Audi and Mercedes much
The government is working on defence ties more competitive. Read
a fee-based formula to give IAF chief Air Chief Marshal N A more>>
permanent transit for Bhutan K Browne left for a four-day
in line with a framework visit to Brazil to bolster Italian tile firms keen to enter
agreement suggested by a bilateral defence cooperation India from Gujarat
panel, a senior official of the even as the first of the three Italian ceramic tile
commerce ministry said. Read Emb-145 jets ordered for $210 manufacturers are joining
more>> million is slated to touch down hands with Gujarat's tile
in India on Wednesday. Read companies to tap the tiles
Ten Sports inks 5-year More>> market in India. Read more>>
broadcast rights deal with EFLI
Zee Entertainment Enterprise TVS Motor's Indonesian arm Greece moves closer to the
Limited's sports broadcasting to drive into Latin America Eurozone’s exit door
network Ten Sports has inked TVS Motor's Indonesian arm Greece’s economy has been
a five-year broadcast rights PTTVS Motor Company contracting since 2007. In the
agreement with Elite Football Indonesia (PT TVS) is looking at second quarter of this year
League of India (EFLI) till 2016 new markets like Laos, GDP was over 6% lower than a
for India, Pakistan, Sri Lanka, Columbia, Argentina, Peru, year earlier and, according to
Bangladesh, Nepal, Maldives, Guatemala, Nigeria, Brazil and the OECD, is projected to fall
Bhutan, Afghanistan, Vietnam. Read More>>
FICCI – Industry’s Voice for Policy Change

7. Weekly International News Wrap
by 5½% overall this year and Ahead of the 16th NAM Australia's consul-general in
1½% next. Read more>> Summit, External Affairs Mumbai Steve Waters offered
Minister S M Krishna has said Australian technical expertise
India walking tightrope in that India hopes to boost to Goa for the development of
intra-Islam cold war in West mutual cooperation with Iran the state's tourism and
Asia especially in the economic industrial infrastructure. Read
India is trying hard not to take sector. Read more>> more>>
sides in what seems to be
heading towards an intra-Islam India, Iran to discuss rupee India's GVK wins approval for
cold 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 government
India's MRPL buys Oman oil to discussions during Prime has given a green signal to GVK
replace Iranian crude-source Minister Manmohan Singh’s Group's USD 10 billion Alpha
India's 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 rupee
through a tender, a source accrual. Read more>> Cipla partners Aspen for
with knowledge of the deal Australia foray
said, as Iranian supplies are hit Bahrain urges India move for Drug maker Cipla is partnering
by European sanctions. Read regional security South Africa’s Aspen
more>> 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 would
cr in Indus Teqsite a bid to thwart potential develop generic products, to
The Oman India Joint threats from Iran. Read be launched by Aspen in
Investment Fund has invested more>> Australia. Read more>>
Rs 55 crore in the Chennai-
based electronics company, India to sponsor pension fund Australia declares resources
Indus Teqsite Pvt Ltd. Read for workers boom is over
more>> The Indian Government would Australia's resources minister
sponsor an ambitious Pension declared the end of the
India offers vast scope for
and Life Insurance Fund (PLIF) country's mining boom, a day
Islamic banking
for skilled and unskilled Indian after the world's biggest miner
Islamic banking may be in for
workers employed in the BHP Billiton shelved two
some windfall gains if a
United Arab Emirates (UAE), a expansion plans worth at least
reported move by Indian
top Indian diplomat has $40 billion. Read more>>
authorities to introduce some
revealed. Read more>>
form of interest-free banking,
India's Fortis eyes up to $400
aimed at bringing the
L&T secures Rs 1302 crore million trust IPO in Singapore
country’s unbanked Muslim
order from Petroleum Religare Health Trust is set to
populations into mainstream
Development Oman launch an up to $400 million
banking, bears fruit. Read
Larsen and Toubro Limited, initial public offering in
more>>
India has bagged another Singapore, a source said, in a
order from Petroleum move that will allow the
Iran draws India closer with
Development Oman LLC backer of the trust, Indian
talks on Afghanistan
valued around Rs 1302 Crore hospitals group Fortis
India, Iran and Afghanistan will
(USD 235 million). The new Healthcare, to cut its
hold talks on giving greater
order involves EPC substantial debt level. Read
access to landlocked
(Engineering, Procurement & more>>
Afghanistan, a move that could
Construction) of the Saih Rawl
also ease Iran's isolation in the
Depletion Compression phase
region. Read more>>
2 (SRDC2) project. Read
more>>
India, Iran firm up ties ahead
of NAM Summit
Wizards of Australia offer Goa
their tourism expertise
FICCI – Industry’s Voice for Policy Change