India signs 4 agreements with Peru
29102013
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Giving a boost to its ties with the fastest growing Latin American country, India on Monday signed four agreements with Peru including one on defence cooperation and another on establishment of a Joint Commission.
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The two other agreements are on exchange programme in the field of education and another letter of intent for cooperation in the field of culture.
These agreements were signed at the end of Vice President Hamid Ansari’s three-day visit to the Latin America country.
Earlier on Monday, Ansari launched the Indian Chambers of Commerce (INCHAM) at a special function jointly organised by the Embassy of India in Peru and INCHAM.
The INCHAM aims to facilitate Indian trade and industry to do business in Peru and other countries of Latin America.
The INCHAM is becoming operational at a time when Peru is rapidly becoming one of the more important trade partners for India in this region. Looking at the potential, India and Peru are hoping to start negotiations soon for a Free Trade Agreement.
Mineral- rich Peru is the fastest growing country in Latin America. Ambassador of India to Peru Manpreet Vohra and President of INCHAM Ravi Krishna, senior officials and business leaders from both India and Peru were present on the occasion.
Addressing the gathering on the launch, Ansari said that the new organisation promises to fill what has so far been a vacuum in India-Peru commercial and economic relations.
The official website of INCHAM was also launched. INCHAM will seek to increase awareness of either country’s business opportunities in the other, it will offer information and advisory services, and it will provide the important bridge between businesses and governments that is vital when economic relations reach a take-off stage, as they have between India and Peru.
India-Peru bilateral trade is increasing very quickly and has gone up by 7 times in the last 5 years.
The growth rate last year was 35 percent. In the first six months of this year, it rose by over 44 percent.
Indian investments in Peru are also rising. The number of Indian companies with offices in the region is increasing steadily, as also the number of Indian professionals working in the region.
Another document that India hopes to finalise with Peru soon is the Bilateral Investment Promotion and Protection Agreement.
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White House halt to surveillance of allied leaders
29102013
Jay Carney, the White House press secretary
White House is currently evaluating whether to end surveillance programs allegedly targeting the leaderships of allied nations such as Germany.
This follows criticism from Senator Dianne Feinstein, the Senate Intelligence Committee’s chairwoman, who said that she was “totally opposed” to the collection of intelligence on US allies, and said that such surveillance of foreign heads of state would cease immediately.
“The White House has informed me that collection on our allies will not continue, which I support – but as far as I’m concerned, Congress needs to know exactly what our intelligence community is doing. To that end, the committee will initiate a major review into all intelligence collection programs,” she said in astatement on Monday.
“Unless the United States is engaged in hostilities against a country or there is an emergency need for this type of surveillance, I do not believe the United States should be collecting phone calls or emails of friendly presidents and prime ministers.”
The White House said Monday evening that it was conducting an internal review on its surveillance programs, which include the monitoring of allied foreign leaders, to be completed by December.
“We have already made some decisions through this process and expect to make more,” said Caitlin M. Hayden, spokeswoman for the National Security Council.
The Obama administration earlier said the controversial intelligence gathering procedures that have attracted international scrutiny in recent months may require “additional constraints.”
Jay Carney, the White House press secretary, made the remark during a scheduled Monday afternoon briefing on the heels of the latest revelations made possible through the unauthorized disclosure of sensitive National Security Agency documents detailing US-led programs that spied on foreign citizens and politicians.
“There are a number of efforts underway that are designed to increase transparency, to work with Congress to look at reform to the Patriot Act [and] to look at ways we can increase oversight and increase constraint on the authorities provided by these programs,” Carney told reporters.
The press secretary also echoed words made earlier that day by National Security Adviser Susan Rice, who tweeted of a balance needing to be reached with regards to how intelligence gathering.
Media agencies
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NSA bugged forty six million phone calls in Italy
29102013
NSA bugged forty six million phone calls in Italy in a month, according to digital library host Cryptome. The report is the latest in the revelations that the agency tapped hundreds of millions of phone lines across Europe.
This snooping, is of Dec. 10, 2012 and Jan. 8, 2013, reportedly did not appear to track the content of calls but rather telephony metadata, including the origin and duration of the calls.
Alleged monitoring of citizens’ phone calls follows an article in the Italian weekly, L’Espresso, say that US intelligence had monitored Italian telecoms networks, targeting the government and companies as well as suspected terrorists.
Britain’s Government Communications Headquarters (GCHQ) also reportedly monitored telephone, Internet and email traffic carried through three undersea fiber-optic cables in Italy as a part of its Tempora program.
“In this mass collection, our secret services had a role,” the publication cited Glenn Greenwald, the journalist who helped publish leaked documents obtained by NSA whistleblower Edward Snowden, as saying.
Italian Prime Minister Enrico Letta said Thursday that the alleged monitoring of Italian telecommunications by US and British intelligence would be both “inconceivable and unacceptable.”
Letta questioned US Secretary of State John Kerry about the reported bugging during talks in Rome on Wednesday.
Ahead of an EU summit Friday, Letta said: “Obviously, all checks should be done, but we want the whole truth. It’s not acceptable or conceivable that there are activities of this kind.”
In regards to the Cryptome report, Italian intelligence agencies had no information on the alleged monitoring and were unable to confirm it had taken place.
A statement released by an Italian parliamentary committee tasked with state security, however, said there was a difference between “spying” and “monitoring.”
“There is no evidence that the United States is spying on Italian citizens,” the statement from the Parliamentary Committee for the Intelligence and Security Services and for State Secret Control read.
The committee said that agreements on cooperation in the security sphere precluded the possibility that either side would spy on each other. Media agencies
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RBI hikes key rate by 0.25%
29102013
RBI hikes key rate by 0.25%; consumer loans to get costlier
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Inflation worries forced the Reserve Bank to continue its firm stance and hike the short-term lending (repo) rate by 0.25 per cent, a step that will make corporate and consumer loans more expensive.
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There was no surprise in the first full policy unveiled by new RBI Governor Raghuram Rajan, who increased the repo rate, as was widely expected, by 0.25 per cent to 7.75 per cent and brought down the cost of short-term funds for banks by slashing the marginal standing facility (MSF) rate by a similar quantum to 8.75 per cent.
The policy stance and measures, Rajan said, “are intended to curb mounting inflationary pressures and manage inflation expectations in a situation of weak growth. “These will help strengthen the environment for growth by fostering macroeconomic and financial stability. The Reserve Bank will closely monitor inflation risk while being mindful of the evolving growth dynamics,” he said.
The central bank reduced the growth forecast for the current fiscal to 5 per cent from 5.5 per cent projected earlier. Economic growth fell to a decade-low of 5 per cent in the previous financial year.
The RBI left other rates unchanged, such as the cash reserve ratio at 4 per cent, and mandatory holdings in government securities and other liquid assets as a solvency measure (SLR) at 23 per cent.
However, the Governor doubled the borrowing limit of banks against their cash positions or NDTL to 0.5 per cent for both 7-day and 14-day repos, with immediate to increase liquidity in the system.
Following are the highlights of the RBI’s second quarter review of monetary policy 2013-14 :
* Repo or short-term lending rate up by 0.25 pc to 7.75 pc;
* Cash reserve ratio unchanged at 4 pc
* Marginal standing facility (MSF) rate cut by 0.25 pc to 8.75 pc
* Difference between repo and MSF rate narrows to 1 pc
* Repo hiked due to upturn of inflation, other factors.
* Wholesale inflation expected to be higher than current levels; warrants ‘appropriate policy response’
* Retail inflation to hover around 9 pc
* Food price pressures may ease with the arrival of summer crop harvest and seasonal moderation.
* Prospect of delay in taper of US Fed Reserve’s bond purchases has brought calm to financial markets
* Normalcy will restored in the forex market only when OMCs fully return to the market for their demand
* FY14 GDP growth estimate revised downward to 5 pc vs 5.7 pc
* Growth likely to pick up in second half on good show in exports and agriculture
* Liquidity pressures building on small businesses as large entities holding on payments; remedies lie in speeding-up of Government and PSU payments.
* Average drawdown from MSF has declined to Rs 0.4 trillion by mid-Oct, down from a high of Rs 1.4 trillion in mid-Sep
* Final guidelines on unhedged forex exposures by corporates to be out by December
* Jalan panel on new bank licenses to hold 1st meet on Nov 1, decision of RBI on in-principle approvals will be final.
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Updated on : 29-10-2013 12:36 PMEdit : Edit
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Patna Terror suspect sent to judicial custody
29102013
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Mohammad Imtiaz Ansari, one of the two terror suspects arrested in connection with serial blasts in Patna, has been sent to judicial custody by a Patna court.
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Imtiaz, a resident of Ranchi, was arrested from Patna railway junction after a bomb exploded on platform number 10 on Sunday morning, ahead of Bharatiya Janata Party (BJP) prime ministerial candidate Narendra Modi’s rally.A court of the railway magistrate here sent Imtiaz to seven days judicial custody.
“He was produced before the court of railway magistrate late Monday night and sent to high security Beur jail under judicial custody,” said Superintendent of Railway Police Upendra Kumar Singh.
Patna Senior Superintendent of Police Manu Maharaj said two separate FIRs have been lodged with the government railway police and Gandhi Maidan police stations. Six of the seven blasts took place in and around the rally venue while one blast took place at the railway station.
Additional Director General (Special Branch) Rajesh Chandra said Imtiaz, the main accused caught with bombs at the Patna junction when he tried to flee after the first blast, was interrogated and confessed to his involvement.
“Imtiaz told police that a group of six people had been divided into three groups with specific assignments to carry out the blasts,” Chandra said.
Maharaj said that Patna police will take Imtiaz in police custody in a day or two.
Six people were killed and 83 were injured in seven bomb blasts in Patna. The first of the blasts ripped through a toilet at around 10 a.m. at the railway station in the heart of the city, killing one person and wounding another.
After an hour, by which time Modi had reached Patna but not the rally ground, four explosions took place inside the Gandhi Maidan, and two around it that caused a lot of panic.
The Patna railway station is located two-three kilometres from the Gandhi Maidan.
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When Bhabho comes to Meenakshi’s rescue
29102013
She may be the most tyrannical and strictest mom-in-law on Television but Diya Aur Baati’s Bhabho (Neelu Waghela) is the most reliable friend one can have. Neelu had participated in Nach Baliye last season and is well-versed with the show’s format and rules. Incidentally, Kanika Maheshwari who plays her daughter-in-law Meenakshi in the show is participating in Nach Baliye-6 and is super excited to groove on the stage with her businessman husband Ankur Ghai.
The couple has been practicing for their first ever debut on TV and had plans to use this opportunity to spend quality time with each other. But with Nach Baliye’s schedules clashing with Kanika’s shoot schedules, she is hardly finding any time for rehearsals. Here’s where Bhabho came to Kanika’s rescue! Neelu is helping Kanika manage her shoot time, dance practice along with giving her some tips. Kanika had helped Neelu manage her time last season and now it’s Neelu’s turn to return the favour!
Talking about Bhabho aka Neelu Waghela, Kanica saids, “Bhabho is truly myfriend, philosopher and guide. I completely look upto her, she always helps me out from situations and is a wonderful person. With my hectic schedules, she has taught me some exercises and is always comforting and ready to ease out the pain.” Aakhir saas ho toh aisi!
Catch Kanika and Ankur in Nach Baliye-6 starting 9th November, every Satruday and Sunday at 9 pm only on STAR Plus!
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29102013
India ranked 134th in Doing Business Index
( India ‘s rank in the “Doing Business Index” declined two notches from 132 in DB13 to 134 in DB14)
India has been placed at 134th position in Doing Business Index 2014 by World Bank and IFC, down from 132nd position in previous year’s Doing Business Index 2013. India ‘s ranking remained below those of the neighbors like Sri Lanka at 85th position, Nepal at 105th, Pakistan at 110th and Bangladesh at 130th.
India stands at 179 in the ranking of 189 economies on the ease of starting a business. These rankings indicate that India could do more to enhance corporate sector profitability by reducing the costs of doing business and improving institutions.
The ease of starting business in India over time
Indicator
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DB’08
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DB’09
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DB’10
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DB’11
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DB’12
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DB’ 13
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DB’ 14
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Ease of Doing Business (Rank)
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120
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122
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133
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134
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132
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132
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134
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Starting a Business (Rank)
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111
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121
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169
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165
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169
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173
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179
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Procedures (no)
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13
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13
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13
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12
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12
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12
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12
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Time (days)
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33
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30
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30
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29
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29
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27
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27
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Cost (% of per-cap income)
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74.6
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70.1
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66.1
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56.5
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46.8
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49.8
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47.3
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Source: PHD Research Bureau, compiled from Doing Business in India 2014 by World Bank and IFC.
In “resolving insolvency” India ’s ranking has declined by 5 positions from 116 in DB’13 to 121 in DB’14, for “paying taxes” ranking has deteriorated by 6 positions from 152 in DB’13 to 158 in DB’14. Ranking for “getting electricity” has also gone down by 6 positions from 105 in DB’13 to 111 in DB’14. India ’s rank has gone down for “Trading across borders” and “getting credit” from 127 in DB’13 to 132 in DB’14 and 23 in DB’13 to 28 in DB’14 respectively.
However, India has been taking adequate measures for “protecting investors” as its ranking has gone up significantly from 49 in DB’13 to 34 in DB’14. India ’s ranking for “registering property” has also gone up by 2 positions from 94 in DB’13 to 92 in DB’14.
India’s rank in “dealing with construction permits” has remained unchanged at 182 in DB’13 and DB’14.
India’s performance on various parameters
Source: PHD Research Bureau, compiled from Doing Business in India 2014 and Doing Business in India 2013 by World Bank and IFC.
Regards,
Dr. S P Sharma
Chief Economist
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WORKSHOP SET TO INITIATE REVISED SCOPE AND INTENTIONS OF IEEE 1547™ STANDARD
29102013
WORKSHOP SET TO INITIATE REVISED SCOPE AND INTENTIONS OF
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CALLING PAKISTAN ARMY’S BLUFF- RAJIV KUMAR
29102013
In my last column (Handling different Pakistans, 4 October) I had argued that India will have to craft a differentiated strategy to deal with different groups in Pakistan. In this piece I want to elaborate further on this as some readers questioned its viability. It is clear that there can be only one approach towards the Jihadis of all shades, which is to crush them to make it clear that in modern societies only the state has the monopoly of violence. India should also openly support the US and NATO on their its drone attacks and everyone else who is fighting against Jihadis all over the world. It will be good domestically for our population to see India as reinforcing the global coalition against Jihad.
At the other end of the spectrum are the civil society and Pakistani business who are quite visibly sick and tired of the on-going violence, fear the Talibanisation of Pakistani and have openly expressed and voted with their feet for better relations with India. They have done this despite being threatened with violence and death by the Jihadis. We must, therefore, reciprocate accordingly with boldness. There are two steps we can take without in any way jeopardising either our security or economic interests. First, we should immediately implement the liberal visa regime for all Pakistani visitors and do away with the shameful practice of giving restricted visas for a few cities. This is primitive and remains in force only and only because of the backwardness of our security agencies who persist with blanket security approach rather than be more technologically savvy and give the government more degrees of freedom in inter-state relations. Surely, modern technology can help track those who violate their visa conditions and surely too, Jihadis don’t cross over with visas and through designated border check points. They come with covering fire in Keran.
Second, India should now seriously consider unilaterally liberalising its import regime rather than wait for Pakistan to grant it the Most Favoured Nation (MFN) status. Evidently, it is difficult for the Pakistan government, beleaguered as it is vis a vis the fundamentalist, to take this step. Also India already has a substantial trade surplus specially if we take in to account Indian exports to Pakistan via Dubai and even London! By this unilateral liberalization, as we have already done for other South Asian neighbours, we will improve the trade balance and more importantly will provide a huge leverage to Pakistani businessmen to raise a stronger voice for normalising ties with India. My sincere suggestion is for India to implement the protocol agreed between the two commerce secretaries without waiting for the MFN. My hunch is that it will become very shortly irrelevant with the growth in trade that will ensue in any case. On some occasions it is wise to forego the symbolism as it is quite often more form than substance.
To design India’s possible approach to the civilian government in Islamabad, we will need to distinguish between the political class and bureaucracy and then categorise those who are close to the armed forces and others, which are relatively less so. In general I have noticed that the bureaucracy has far deeper and extensive ties with the armed forces. This could be for many reasons including that both come from the same professional family background and that the bureaucracy has had to be subservient to the army for decades. Very often Pakistani diplomats and bureaucrats appear to be liberal towards India but actually do only the army’s bidding. So our better bet is to strengthen our relationship with that segment of the political class who openly profess their friendship towards India and are not Jihadi supporters. PML and MQM today qualify on this criteria and will be useful to develop ties between politicians of the two Punjabs and between Mumbai and Karachi. Frequent interaction should be organized between the legislators from the two sides, along with track two events involving politicians, business and academics from the two sides and meeting with the officials on the sidelines. These will help remove misunderstandings and build much needed trust between the politicians.
Vis-a-vis the Pakistan army, our stance must be uncompromising and punishing. Incidents on the line of control (LOC), covering fire for infiltration by Jihadis or suspected ISI involvement with Jihadi attacks as in Mumbai must invite immediate and disproportionate retaliation and retribution. Our government must give clear and unequivocal free hand to our armed forces to deal with the situation. This should include the dismantling of training camps across the LOC which really are a perpetual symbol of India’s inability to shake off the nuclear bluff and allow Pakistan to persist with adventurism and continue with its policy of trying to bleed India with small cuts. It also allows the Pakistani army to continue with its coalition with the Jihadis who are given a free hand and support to attack India and take on Kabul and its allies as long as they do ISI’s bidding. India will have to explain to the US, China, Russia and the NATO countries that these terrorist training camps are simply unacceptable as are ISI supported incidents. These incidents are also harmful for the Pakistani population because they allow the ISI and the army to determine nature of Indo-Pak relations and abort any promising opening.
Does this stance convert me to a hawk against Pakistan? No it does not. In fact I am sure that a large majority of Pakistanis want to have their army put in its proper place. It should stay in the barracks and give up grandiose ambitions that have cost Pakistan dear. For India it is stupid for our TV anchors and foreign policy hawks to ask for complete freeze on all contacts with Pakistan and breaking off all dialogue or interaction every time an incident happens on the LOC . This only serves the purpose of the Jihadis and Rawalpindi as it does not punish them but instead burns up the goodwill among the people that takes enormous effort and time to rebuild. The stick should be wielded on the culprits and not on friends. India has to help the peace loving people of Pakistan by throwing our full weight against their army and Jihadis and opening our markets, cricket fields, cultural platforms and hearts to the others, which are undoubtedly the great majority.
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Author is Senior Fellow, Centre For Policy Research
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