Int'l business news in brief
Sunday, 28 November 2010
Russian WTO membership
in 2011 possible: Putin
BERLIN, Nov 27: Prime Minister Vladimir Putin voiced hope Friday that Russia would complete its 17-year quest for World Trade Organisation membership next year. "I think this is possible and this our wish," he said after talks with German Chancellor Angela Merkel in Berlin. "There are virtually no unresolved issues left." Merkel said that she was in favour of this happening in order to help the Doha round of world trade talks be completed. "It is also desirable for us because of the G20, with Russia being a member of the G20. We would like finally to complete the Doha trade talks, and we would very much like to do this with Russia as a WTO member," she said. -- AFP
Ghana far from OPEC status
ACCRA, Nov 27: Ghana was nowhere near the status of the Organisation of Petroleum Exporting Countries (OPEC) and was no dream of joining it, Ato Ahwoi, chairman of the Board of Directors of the Ghana National Petroleum Corporation (GNPC), declared here Friday. Addressing a dialogue between Ghana's oil development partners including Tullow, Kosmos, Anadarko, GNPC, EO Group and Sabre, Ahwoi warned Ghanaians against higher expectations on the offshore oil field that was discovered in 2007. But we have hyped the prospects of Ghana's oil so much that the expectations now far outweigh the reality on the ground, he said, calling on all stakeholders to help manage the expectations. At the time of discovery, the Jubilee oil field was declared as the largest oil field discovered in West Africa in the last decade and a half, with about 1.5 billion barrels of oil in 17 wells. — Xinhua
I-T dept strikes Rs 500m deal
with BSNL, gets Blackberry
NEW DELHI, Nov 27: The Indian Income Tax department has struck an estimated Rs 500 million (50 crore) deal with state-owned telecom company Bharat Sanchar Nigam Limited to provide 51,000 mobile connections and one thousand high-end Blackberry phones for secure and fast communication amongst its officers and staff. The department's new telecom kitty, formulated to help I-T officials to enhance their speed of communication for official work, has a heavy shopping list with the joint network of BSNL and Mahanagar Telephone Nigam Limited. This provides for supply of 51,000 mobile connections, 22,000 landline connections, 8,000 3G datacards with 5GB downlaod per month, 1,000 Blackberry phones, 5,000 broadband connections and unlimited free SMS facility to the entire network of BSNL/MTNL. The department has provided the latest Blackberry 'torch' model, sporting a price tag of about Rs 30,000 per piece, to all the Chief Commissioners and Commissioners of Income Tax in the country to ensure fast monitoring of operations and activities of the department and keep secure all classified information exchanged between the top brass. — PTI
India seeks industry feedback
on S'pore trade pact
SINGAPORE, Nov 27: India has sought feedback from companies doing business in Singapore on the free trade pact between the two countries as part of an ongoing review exercise to streamline the agreement, which was signed way back in July, 2005. "We need to have your feedback for introducing changes to the Comprehensive Economic Cooperation Agreement (CECA)," Indian Commerce Ministry Joint Secretary Sumanta Chaudhuri said at a CII India Business Forum meet. The India-Singapore CECA review started in July and will be concluded by the middle of next year, he said. — PTI
India, S Arabia agree to
enhance investments
NEW DELHI, Nov 27: India and Saudi Arabia Friday agreed to increase investments in each other's country through joint ventures to enhance economic cooperation. Indian Commerce and Industry Minister Anand Sharma and Saudi Arabian Minister of Commerce and Industry Abdullah bin Ahmed Zainal Alireza, who met here, agreed to regular exchange of business delegations to sensitise the business persons in both the countries. "Sharma said that India is keen to set up Joint Ventures for gas-based fertiliser plant in Saudi Arabia. — PTI
in 2011 possible: Putin
BERLIN, Nov 27: Prime Minister Vladimir Putin voiced hope Friday that Russia would complete its 17-year quest for World Trade Organisation membership next year. "I think this is possible and this our wish," he said after talks with German Chancellor Angela Merkel in Berlin. "There are virtually no unresolved issues left." Merkel said that she was in favour of this happening in order to help the Doha round of world trade talks be completed. "It is also desirable for us because of the G20, with Russia being a member of the G20. We would like finally to complete the Doha trade talks, and we would very much like to do this with Russia as a WTO member," she said. -- AFP
Ghana far from OPEC status
ACCRA, Nov 27: Ghana was nowhere near the status of the Organisation of Petroleum Exporting Countries (OPEC) and was no dream of joining it, Ato Ahwoi, chairman of the Board of Directors of the Ghana National Petroleum Corporation (GNPC), declared here Friday. Addressing a dialogue between Ghana's oil development partners including Tullow, Kosmos, Anadarko, GNPC, EO Group and Sabre, Ahwoi warned Ghanaians against higher expectations on the offshore oil field that was discovered in 2007. But we have hyped the prospects of Ghana's oil so much that the expectations now far outweigh the reality on the ground, he said, calling on all stakeholders to help manage the expectations. At the time of discovery, the Jubilee oil field was declared as the largest oil field discovered in West Africa in the last decade and a half, with about 1.5 billion barrels of oil in 17 wells. — Xinhua
I-T dept strikes Rs 500m deal
with BSNL, gets Blackberry
NEW DELHI, Nov 27: The Indian Income Tax department has struck an estimated Rs 500 million (50 crore) deal with state-owned telecom company Bharat Sanchar Nigam Limited to provide 51,000 mobile connections and one thousand high-end Blackberry phones for secure and fast communication amongst its officers and staff. The department's new telecom kitty, formulated to help I-T officials to enhance their speed of communication for official work, has a heavy shopping list with the joint network of BSNL and Mahanagar Telephone Nigam Limited. This provides for supply of 51,000 mobile connections, 22,000 landline connections, 8,000 3G datacards with 5GB downlaod per month, 1,000 Blackberry phones, 5,000 broadband connections and unlimited free SMS facility to the entire network of BSNL/MTNL. The department has provided the latest Blackberry 'torch' model, sporting a price tag of about Rs 30,000 per piece, to all the Chief Commissioners and Commissioners of Income Tax in the country to ensure fast monitoring of operations and activities of the department and keep secure all classified information exchanged between the top brass. — PTI
India seeks industry feedback
on S'pore trade pact
SINGAPORE, Nov 27: India has sought feedback from companies doing business in Singapore on the free trade pact between the two countries as part of an ongoing review exercise to streamline the agreement, which was signed way back in July, 2005. "We need to have your feedback for introducing changes to the Comprehensive Economic Cooperation Agreement (CECA)," Indian Commerce Ministry Joint Secretary Sumanta Chaudhuri said at a CII India Business Forum meet. The India-Singapore CECA review started in July and will be concluded by the middle of next year, he said. — PTI
India, S Arabia agree to
enhance investments
NEW DELHI, Nov 27: India and Saudi Arabia Friday agreed to increase investments in each other's country through joint ventures to enhance economic cooperation. Indian Commerce and Industry Minister Anand Sharma and Saudi Arabian Minister of Commerce and Industry Abdullah bin Ahmed Zainal Alireza, who met here, agreed to regular exchange of business delegations to sensitise the business persons in both the countries. "Sharma said that India is keen to set up Joint Ventures for gas-based fertiliser plant in Saudi Arabia. — PTI