Wednesday, 18 June 2014

21st World Petroleum Congress Plenary at Moscow

18 06 2014
Today at 11:05 AM

21st World Petroleum Congress Plenary at Moscow – GAIL Voice


Posted: 17 Jun 2014 12:37 AM PDT
Sh. Dharmendra Pradhan, Hon’ble Minister of State (I/C) Petroleum and Natural Gas at the opening plenary session of the 21st World Petroleum Congress on “Energy Strategies for a Growing World” at Moscow on June 16, 2014, stressed the Indian world-view of energy. Energy is one amongst five elements that are sacred to the Indian way of life and thus by definition needs to be sustainable and inclusive. The Minister invoked the philosophy of Vasudev Kutumbakam to exhort world leaders to ensure that no one is left behind in the journey of growth and progress. He emphasised that the energy policy must serve broader economic growth and its benefits should not exclude the poor and the vulnerable. He outlined the importance of innovation, partnerships, simplification of the regulatory regimes, rule of law, promotion of renewable energy in achieving our goals of energy security in line with the priorities of the new government led by Prime Minister Sh. Narendra Modi.
Image 1
Our efforts, Mr Pradhan said, must focus on promoting fiscal and regulatory regimes that are stable and equitable to both investors and owners of natural resources. He called for enhancing technology collaboration across the value chain since we have to delve deeper and explore in more difficult areas for oil and gas, including shale gas and tight oil.
Image 2
His visit to Moscow, Mr Pradhan said, has given him an opportunity to renew the deep and multifaceted ties between the two countries. Russia has always been a longstanding, time- tested friend and a strategic partner and energy is an essential element of our relationship. We look forward to working further in this sphere. The Hon’ble Minister later inaugurated the India Pavilion at the WPC Exhibition and is slated to attend several bilateral meetings with different countries during the congress.
GAIL is participating in WPC 2014 Exhibition along with other oil companies under the aegis of Ministry of Petroleum and Natural Gas




India clinch BangODI series

18 06 2014
Binny
Medium-pacer Stuart Binny bagged six wickets as India registered an unexpected 47-runs win against Bangladesh via Duckworth-Lewis method in the rain-curtailed second One-day International at the Shere Bangla National Stadium in Mirpur on Tuesday to take an unassailable 2-0 lead in the three-match series.
Sent into bat, Indian batsmen produced a below-par performance to be bowled out for a paltry 105 runs in rain-truncated 41 overs-a-side game.But the pace combination of Binny (6-4) and Mohit Sharma (4-22) saved India from humiliation as they bundled out Bangladesh for a record 58 runs in 17.4 overs to help the visitors defend their lowest score against the hosts.
The Binny heroics came after Bangladesh pacer Taskin Ahmed scalped five wickets for 28 runs on his debut to bowl India out for 105 in 25.3 overs.
But if India’s 105 was much less than their previous low of 191 in Port of Spain during the 2007 World Cup then Bangladesh also sank to a new low as their previous lowest against the Men in Blue was 76 in 2003 at Dhaka.
Binny, whose figures are best by any Indian bowler in ODI’s bettering Anil Kumble’s 6-12 against West Indies in 1993, was ably supported by medium pacer Mohit from the other end.
Mohit, who was the proud owner of the ‘Purple Cap’ in the recently concluded IPL for Chennai Super Kings, started the rot for Bangladesh after sending openers Tamim Iqbal for 4 and Anamul Haque for nought.
Binny soon joined forces to send innings top-scorer Mithun Ali back in the pavilion for 26 and skipper Mushfiqur Rahim for 11.
The rest of the batting fell like a pack of cards as Binny and Mohit had little time to celebrate between wickets.
Earlier put into bat, the stunning Indian collapse was triggered by Taskin, who returned with figures of 5-28, making it the best debut bowling performance by a Bangladesh player. Brief Scores:
India: 105 all out in 25.3 overs (Suresh Raina 27; Taskin Ahmed 5/28).
Bangladesh: 58 all out in 17.4 overs (Mithun Ali 26; Stuart Binny 6/4, Mohit Sharma 4/22).
Teams:
India: Suresh Raina (captain), Ajinkya Rahane, Robin Uthappa, Cheteshwar Pujara, Ambati Rayudu, Wriddhiman Saha (wk), Akshar Patel, Parveez Rasool, Mohit Sharma, Umesh Yadav, Amit Mishra, Manoj Tiwary, Kedar Jadhav, Stuart Binny, R Vinay Kumar.
Bangladesh: Mushfiqur Rahim (captain), Tamim Iqbal, Anamul Haque Bijoy, Mominul Haque, Mushfiqur Rahim, Shakib al Hasan, Mahmudullah Riyadh, Nasir Hossain, Ziaur Rahaman, Mashrafe Mortaza, Abdur Razzak, Al-Amin Hossain, Taskin Ahmed, Sohag Gazi, Shamsur Rahaman.




10 Of The Most Dangerous Railways In The World

18 06 2014

 

Total Rail
To Me
Jun 17 at 7:25 PM
If you have trouble viewing this email, read the online version
Dear N.K,

What we’re talking about this week:

  • Ten of the most dangerous railways in the world
  • Network Rail claim ‘we are in the middle of a rail renaissance’ as £1bn profit is revealed
  • Don’t let history repeat itself; Obama forces Philadelphian rail workers to end strike 
  • French rail strikes continue,as union remains defiant 
  • ‘Naked’ commuter protests for an air conditioned London Underground 
article_img

‘Naked’ commuter protests for an air conditioned London Underground

A commuter who took to the underground dressed in nothing but boxers, and his sunglasses last week, suggested that it was all in a bid to achieve a cooler London Underground system.

SNCF

French rail strikes continue, as union remains defiant

The French rail strikes continued yesterday, causing further widespread disruptions across the country.

Don’t let history repeat itself; Obama forces Philadelphian rail workers to end strike

Don’t let history repeat itself; Obama forces Philadelphian rail workers to end strike

Under special instruction from Republican politician, Thomas Corbett, President Barack Obama has stepped in and forced union workers in Philadelphia’s commuter rail strike to return to their work.
Network Rail

Network Rail claim ‘we are in the middle of a rail renaissance’ as £1bn profit is revealed

Network Rail has announced a pre-tax profit of £1.035 bn for the year to 31 March. This has meant that the company has seen a significant rise in funds in comparison with the previous year, where their revenue hit £747 million.
10 Of The Most Dangerous Railways In The World

10 Of The Most Dangerous Railways In The World

Whilst you can’t knock the imagination, and magnificence of these railway projects, the safety angle of each piece of infrastructure is somewhat more questionable.

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Is Jaitley call to States to crack down on hoarders a hoax?

18 06 2014
States asked to crack down on hoarders: Jaitley
Updated 12th June 10:06 AM
With new government at Centro is it acting as their predecessor their diction same as old. Thus the promises of Good days ahead is being banged as hoax by various e channels and Qs their intentions.
Is fiscal lawlessness, nation wide policy on public distribution food for all is state subject or federal subject. Making black money vide hoarding of essential food item,articles thus is national subject
must be dealt severely.
Government with such qualified majority is competent to act fast and not linger for two years and allow the devils to go for killing thus allow damaging nation economy.
The spiraling inflation can only be fixed if the traders with nexus of bigwigs think for the welfare of nation. Even  containment of prices can be achieved with continuity chain  order of public distribution.
Further the “Efficiency Mantras’ of injecting the efficiency at all levels with dose of  transparency dissolved with technology to  which Modi went Gaga appears to be only to impress the intellect of this country  but no plan in reality but give loose chord to traders and businessmen thus to dilute his building global image.
Let PM remember arise,awake till goal is reached was also his sermon on his 480 nation wide electoral appearances  further his promise to last person gets his due needs to be revisited. .
 IB national agency to look after national interest  report to which e channels has purposeful leak to build government good intention bring
IB at threshold of blaming one side on pretext of fiscal borrowing which is matter of Finance ministry and Environment ministry which need to wok collectively in faster mood  on their big infra to take care of the environment and people welfare. These immediate plan can’t be put on back burners. Moot question here arise did government full filed its preliminary duties of allotting land to landless on Q of big projects did they got their dues, did police and war widows get their dues from the government.
What is the IB  doing for corrupt offices to enliven the system which is in deep slumber  embedded with corruption and this was raised by our popular leader Modi too. Nation health can not be  retrieved to its best order as we  play blame game but contrary punish the guilty allow honest and merit to rule,to curb nepotism to be at its naught.
There is common perception that two brands of political outfit BJP and Congress compromise where there is ample opportunity to earn and buries the national issue like black money, fiscal embezzlement thus sharing nation wide scheme of people welfare to its gain this perception made non-entity like Arvind came to forefront without any vision and with his arrogant self certify honest party convener.
Official media reports
-{
With prices of essential food items shooting up, the Centre on Tuesday unveiled measures to tame inflation by asking state governments to crack down on hoarders and delist items such as onions and potato on which a minimum export price was slapped to discourage exports
The steps were disclosed by Finance Minister Arun Jaitley after a high-level meeting in which Agriculture Minister Radha Mohan Singh, Food Minister Ramvilas Paswan, Commerce Minister Nirmala Sitharaman and top officials including Nripendra Misra, Principal Secretary to Prime Minister Narendra Modi, were present.Maintaining that only four or five commodities have witnessed a spike in prices, the Finance Minister said states have been asked to crack down on hoarders who are trying to exploit apprehensions of a weak monsoon.
He said the states have been asked to delist certain items, which are usually procured through Agriculture Produce Marketing Committees, so that they come into the open market.
About 50 lakh tonnes of rice will be released in the open market through state governments to cool prices.
While a USD 300 per tonne minimum export price on onion has already been imposed, a similar levy on potatoes will be decided by the Commerce Ministry to discourage exports and boost their domestic availability and control prices, he said.
With regard to pulses and edible oil, states will be given a line of credit to directly import them to meet local demand, Jaitley said.
Jaitley said Delhi Lt Governor Najeeb Jung has been asked to procure onions and potatoes from the open market and flood the market through Mother Dairy retail outlets.
He has also been asked to delist all food items in the capital, a move that will enable farmers to sell their produce directly to the market.
The government, he said, was closely monitoring prices of 22 commodities and will take steps to curb volatility.
Rising prices of essential food items such as vegetables, fruits and cereals pushed up inflation to a five-month high of 6.01 per cent in May.
The likelihood of a sub-normal monsoon and the fallout of violence in Iraq on commodity and oil markets may further worsen the price situation.
Reserve Bank of India Governor Raghuram Rajan said the central bank will be focused on controlling inflation over the next few months.




Yamuna Mukti Aandolan

18 06 2014
Yamuna Mukti Aandolan
From: “Dr. Suresh Chandra Sharma” <drsharma46@gmail.com> Wed, 18 Jun ’14 8:51a
To: You and others
Respected Sir,
                        Kindly find the news clippings on Nadiyan Chhoro Sewer Joro emerged through Yamuna Mukti Aandolan started by the undersigned on Yam Dwitiya 2011 at mathura.
With regards
Yours sincerely
Dr. S. C. Sharma




Sunni militants capture Iraqi city near Syria

18 06 2014
Sunni militants capture Iraqi city near Syria
Sunni militants captured a strategic northern Iraqi city along the highway to Syria on Monday, sending thousands of residents from an ethnic minority fleeing for safety and moving closer to their goal of linking areas under their control on both sides of the border.
US Secretary of State John Kerry said that American drone strikes are an option in a bid to halt the dramatic sweep by insurgents over a swath of Iraq.He also said the Obama administration is willing to talk with Iran and does not rule out potential military cooperation between the two rivals to stop the rampage.
Already, the commander of Iran’s elite Quds Force, Gen Ghasem Soleimani, is in Iraq, consulting with officials on how to roll back the al-Qaida-breakaway group leading the insurgent charge, known as the Islamic State of Iraq and the Levant, Iraqi security officials said.
They said the US government was notified in advance of Soleimani’s visit. The officials, who spoke on condition of anonymity because they were not authorised to speak to the media, also said that US aircraft have in recent days flown reconnaissance missions over Iraq to gather intelligence on the militants’ positions.
Soleimani has been inspecting Iraqi defenses and reviewing plans with top commanders and Iranian-backed Iraqi Shiite militias, the officials said, speaking on condition of anonymity because they were not authorized to discuss the visit.
He set up an operations room to coordinate militias. He also visited the holy cities of Najaf and Karbala south of Baghdad, home to the most revered Shiite shrines, and areas west of Baghdad where government forces have faced off with Islamic militants for months.
The Islamic State has threatened to march to Baghdad, Karbala and Najaf. Soleimani is one of the most powerful figures in Iran’s security establishment. His Quds Force is a secretive branch of Iran’s Revolutionary Guard involved in external operations.
In the mid-2000s’, it organised Shiite militias in a campaign of deadly violence against US troops in Iraq, according to American officials. More recently, it has been involved in helping Syria’s President Bashar Assad in his fight against Sunni rebels.




Newsline

18 06 2014
India says situation in Iraq receiving attention on high priority
           India says situation in Iraq receiving attention on high priority
There are more than 16000 nurses in Iraq and wait for their wages
and situation worsens the government to act faster to assure their wages from the Iraq government and plan their exodus back to their home.
India said situation in Iraq is receiving attention on high priority while External Affairs Minister is monitoring and reviewing situation of Indian nationals in Iraq.
MEA spokesperson Syed Akbaruddin toady tweeted that External Affairs Minister Sushma Swaraj is monitoring and reviewing the situation of Indian nationals in Iraq.Secretary West Anil Wadhwa in the ministry today met Iraqi Ambassador to New Delhi Ahmed Derwari in this connection. Earlier, on Monday India said that it “firmly stands by” the Government and people of Iraq in their fight against “international terrorism” while expressing serious concern over the safety and security of its nationals in the violence-hit country.
Strongly condemning the violence, the government said it was “deeply concerned” with deteriorating security situation in Iraq resulting out of recent attacks and taking over of some cities, by terrorist outfits since June 8.
The Ministry of External Affairs said “the safety and security of the Indian nationals currently in Iraq remains a matter of serious concern for the Government”.
The government had already asked Indians residing in Iraq to consider leaving the country in view of the “precarious” security situation.
People have also been advised not to travel to the country.
The Indian Embassy in Baghdad has already set up a a 24- hour helpline to offer assistance to Indian nationals there.
External Affairs Ministry spokesperson Syed Akbaruddin said that India’s Mission in Iraq is in touch with nurses in Tikrit.
International Red Crescent Society volunteers visited them on Monday to ensure safety.

Boat sinks off Malaysian coast, dozens reported missing

A boat from Indonesia with 97 on board sank off the western coast of Malaysia, and 61 of the passengers are still missing, according to the Malaysian Maritime Enforcement Agency. The passengers are suspected of aiming to reach Malaysia illegally, an agency spokesman said, according to Reuters. The agency is sending several boats to the area to search for survivors. The boat sank around midnight local time on Tuesday, about two miles (3 km) from the town of Banting on the Strait of Malacca.

​Blast hits World Cup viewing area in northern Nigeria

A suicide bombing in northeast Nigeria at an outdoor World Cup viewing space has killed several people, witnesses told AP. The bomber detonated a tricycle taxi full of explosives at the event in Damaturu, the capital of Yobe state. While no deaths are official thus far, local hospital workers said at least 15 people are critically wounded, and casualties are still arriving at General Sani Abacha Specialist Hospital, according to AP and Reuters. Police Assistant Superintendent Nathan Cheghan confirmed the blast and said rescue workers are on watch for possible secondary explosions.

Spain’s King Juan Carlos’s abdication approved by Senate

The Spanish Senate has approved King Juan Carlos’s abdication, finalizing the last legislative procedure ahead of the proclamation of Felipe VI as Spain’s next monarch. King Juan Carlos is expected to sign the law on Wednesday, his last act as head of state after 38 years on the throne. The 233-5 vote, with 20 abstentions paved the way for the king’s son to ascend to the throne on Thursday. Some 160 guests are invited to the Hall of Columns at the Royal Palace in Madrid to witness the ceremony.

Turkey evacuates Iraq consulate in Basra to Kuwait

Turkey evacuated its consulate in the southern Iraqi city of Basra on Tuesday due to a growing security risk, Reuters reported. Foreign Minister Ahmet Davutoglu wrote on his Twitter account that the staff has been transferred to Kuwait. The 18 staff members, including the consul general, would return to Turkey from Kuwait, according to a foreign ministry official. Ankara has no plans to evacuate the embassy in Baghdad.

More than 202 million Chinese older than 60 years

The number of people who are older than 60 years has reached 202.43 million people, or 14.9 percent of the population, by the end of 2013, ITAR-TASS reported. This number increased in 2013 by 17.43 million people, according to the Ministry of Civil Administration. Analysts believe that the increasing number of pensioners will make problems for the country’s financial system and propose urgent measures aimed at diversifying funds.

15 more killed in new militant attack on Kenyan coast

Somali-linked Islamist militants killed at least 15 people in a second night of attacks on Kenya’s coast, a day after an assault on a nearby town left almost 50 dead, Reuters said. Armed men reportedly went door to door hours before dawn in the village of Poromoko, ordered people outside and made them recite the Islamic creed, according to a witness. Somalia’s Al-Shabaab militants claimed responsibility for the two days of attacks. However, Kenya’s president, Uhuru Kenyatta, said Tuesday that the attacks were planned by “local political networks.”

Experts find painting underneath Picasso masterpiece ‘The Blue Room’

Scientists and art experts have found a hidden painting beneath one of Pablo Picasso’s first masterpieces, “The Blue Room,” AP said. Advances in infrared imagery were used to reveal a bow-tied man with his face resting on his hand. Over the past five years, experts from The Phillips Collection, National Gallery of Art, Cornell University and Delaware’s Winterthur Museum have developed a clearer image of the mystery picture under the surface – a portrait of an unknown man painted in a vertical composition.

Blast reported at chemical plant in Netherlands

An explosion and fire at a chemical plant in the southern Netherlands was reported on Tuesday, Reuters said. Regional Dutch emergency services tweeted that there had been a blast at a plastics production plant run by chemical company Caligen Europe in the southern town on Breda. No injuries were immediately reported. Witnesses reported a lot of smoke and strong odors at the scene.





“Assignment: China”

18 06 2014

“Assignment: China” Screening with NCUSCR on June 25th

India China Institute
To Me
Jun 17 at 9:45 PM
“Assignment: China” Film Screening on Wednesday, June 25th
View this email in your browser
The National Committee on United States-China Relations and the India China Institute presentAssignment China: Tiananmen Square A Film Screening
Wednesday, June 25th
Registration: 5:15pm
Program: 5:30pm – 7:30pm
Theresa Lang Center
55 W. 13th St., 2nd Floor
Seating is limited – RSVP is required.
Click below for registration.

Registration will close at 5:00 p.m. on Monday, June 23. Email events@ncuscr.org with any questions or cancellations. 
Register your RSVP here
Assignment China: Tiananmen Square tells the behind-the-scenes story of the American reporters who covered the tumultuous events of spring 1989 in Beijing. With video footage and still photos, some never shown before in public, and interviews with journalists who were there, including Nicholas Kristof of the New York Times, Daniel Southerland of the Washington Post, Dan Rather of CBS, Dorinda Elliott of Newsweek, and many others, it tells a largely unknown side of a story the world is revisiting 25 years later.  The documentary is the latest episode in a series on the history of American correspondents in China produced by the U.S.-China Institute at the University of Southern California’s Annenberg School for Communication and Journalism.
Join the National Committee on U.S.-China Relations and the New School’s India China Institute for a screening of the film on Wednesday, June 25. After the film, correspondent Dorinda Elliott, National Committee staffer Jonathan Lowet, and NYU Law Professor Frank Upham will discuss their first-person perspectives on the events, and implications for contemporary China and Sino-American relations.

Dorinda Elliott covered the beginnings of China’s economic reforms in 1984 for BusinessWeek magazine, and served as Beijing bureau chief for Newsweek from 1987 to 1990. She later lived in Hong Kong for a decade, traveling and reporting across China.  Since her return to the United States, she has continued to write about China for Condé Nast Traveler, ChinaFile, and other media outlets.
Jonathan Lowet taught English in Beijing (1988-89) and Wuhan (spring 1990) as a Yale-China Association fellow.  Since 2004 he has worked on next generation programs at the National Committee on U.S.-China Relations, leading Congressional staff delegations to China, and managing the Young Leaders Forum, the Student Leaders Exchange, and a range of other Committee programs.

Frank Upham is the Wilf Family Professor of Property Law and co-director of the U.S.-Asia Law Institute at the NYU School of Law, as well as faculty direc­tor of NYU Law’s semester abroad program in Shanghai. Professor Upham is a scholar of the role of law in Japanese and Chinese societies with a special interest in property rights issues.  He conducted research at the Wuhan University Faculty of Law in spring 1989. 
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FISME Factor, June 15, 2014

18 06 2014

 

FISME
To Me
Jun 17 at 6:40 PM






If you are unable to view this mailer, click here.

The FISME Factor
President’s Message
” It is heartening to see flurry of activity in the Ministries and corridors of power after a period of prolonged lull. Plans are being prepared, presentations are being made and time bound agenda are being adopted. However, what is being discussed largely comprises of system’s thinking There is a need to engage people from outside the system and the beneficiaries and to ask them what they want as opposed to what was being done for years. We can’t expect different results by doing the same thing over and over again. “
Dr. D. Gandhikumar, President, FISME
Vol IV, Issue 60: June 15, 2014
Business Banter: Lessons from Entrepreneurs

That’ll Never Work: Six Important Lessons from Successful Entrepreneurs

In the first few months of a business, an entrepreneur is likely to face challenges that, if not managed properly, may well sabotage the new venture. Imagine the confidence of that entrepreneur, however, if he or she could have the advice of others who have already met those challenges on the road to their own success. Readers and would-be entrepreneurs will find that advice in this article. Entrepreneurs who start businesses armed only with ideas and a rough plan – rather than a structured organization backed with capital, talented employees and a full stock of products – face a multitude of unique challenges.
Read More   Bach to Top
With Prime Minister Modi giving hints for taking tough measures to reign in inflation and budget deficit in the forthcoming Union Budget, what is the course he is likely to take: *
  • Increase Taxes
  • Cut expenditure
  • Disinvest
  • Do all

Writing on the Wall

Soaring animal spirits can make Modi’s task easier

by Swaminathan S. Anklesaria Aiyar

When expectations are strong enough, they become self-fulfilling. The argument that as prime minister Modi would face so many structural barriers that he would not be able to accelerate the economy much in the short run, has become much weaker. Within ten days of the election results, expectations of better days have zoomed so much that they could become self-fulfilling. What economists call “animal spirits” have soared in expectation of quick decisions, better governance, and business-friendly policies.

Media Monitor

Macro Metre

Govt indicates, MSMEs may receive FM attention in Budget

The MSMEs should get some attention from the new Government at the Centre as indicated by the issues listed by the Finance Ministry received from different sectors of the industry during the pre-Budget consultations done by Finance Minister Arun Jaitley here yesterday. A host of suggestions and demands were received and discussed during the consultations, according to an official release. These included revision of reservation list of items reserved exclusively for manufacture in MSME Sector, discourage import of items produced by low cost machineries through effective taxation policy, monitoring of items relating to MSME Sector, imported from neighbouring countries under SAFTA and stringent action to discourage the same.
Read More   Bach to Top

Govt says can live with FTAs; domestic units want protection from imports

Admitting that some of the Free Trade Agreements allowing unrestricted imports, have resulted in duty inversion, the Commerce Ministry has started conducting “outreach programmes” to inform stakeholders about the benefits of such pacts. According to a media report quoting an official, the commerce department has conducted outreach programmes on FTAs across the country. There has been growing concern amongst the Indian MSMEs about the increasing imports of finished goods under free trade agreement.
Read More   Bach to Top

Economy to grow by 6.2 per cent in 2014-15: EY

The economic growth rate will improve to 6.2 per cent in current fiscal and can go up to 8 per cent in the next three years on back of favourable domestic and global environment, tax consultancy firm EY said. “A combination of structural correction, confidence in new government and favourable global conditions could propel economic growth to beyond 8 per cent in three years,” it said The economic growth rate remained below 5 per cent for the second year in a row recording 4.7 per cent in 2013-14. In order to boost growth, the tax consultancy firm urged Finance Minister Arun Jaitley to hike income tax exemption limit to Rs 4 lakh and extending additional tax benefits to small investors in the forthcoming budget in July.

Government bid to make labour laws investor-friendly

In tune with BJP’s election manifesto, the Union labour ministry made its first move to reform labour laws for a “conducive environment for investors” through flexible mechanisms like hiring and firing. On its website, the ministry invited comments or suggestions on proposed amendments to the Factories Act, 1948. Amendments to the Factories Act are pending since 2008. Earlier, the cabinet of Rajasthan’s BJP government cleared crucial amendments to Industrial Disputes Act, Contract Labour Act and the Factories Act. The move elicited stiff opposition from central trade unions.
Read More   Bach to Top

Domestic Digest

RBI seeks better transmission of policy rates

The RBI kept financial markets happy by keeping key policy rates unchanged in its monetary policy on Tuesday. Deposit and lending rates, hence, will not see any significant change for now. But that’s not to say that the RBI did nothing at all. By reducing the statutory liquidity requirement and funds provided under the export credit refinance (ECR) facility, the RBI has gone a step further to align interest rates across different segments to market-determined rates. The objective — as stated in the Urjit Patel Committee report — is to facilitate the transmission of policy rates across segments. For borrowers this means quicker pass through of policy action on banks’ lending rates over the long term.

Mango import ban: EU to send high-powered delegation to India

A high-powered team of scientific experts from the European Commission will visit India in September to check measures put in place by the country in order to help lift the EU ban on the import of Indian mangoes. This was confirmed to Indian-origin Labour MP Keith Vaz, who visited Brussels on Wednesday and met Dacian Ciolos, EU Commissioner for Agriculture, and other senior officials. Vaz has been spearheading the British Parliament campaign to get the ban overturned. He invited the Commissioners for Agriculture and Trade to visit India to discuss these issues face to face with the Indian government.
Read More   Bach to Top

New foreign trade policy to give more thrust to services exports

The new five-year foreign trade policy will offer greater incentives for services exports while refocusing schemes for merchandise exports to make them more effective, according to top commerce department officials. The commerce ministry is expected to announce the foreign trade policy 2014-19 after the budget, which is likely in July. Officials said the department of commerce is expected to expand the scope of the ‘Serve for India Scheme’ (SFIS) in the new policy by making duty credit scrips tradable.
Read More   Bach to Top

Commerce ministry asks finance ministry to roll back MAT on SEZs

The commerce ministry has asked its finance counterpart to roll back the minimum alternate tax (MAT) imposed on SEZs, saying the levy has “suppressed” the potential of these zones as a tool to promote exports and generate employment. “We have been telling the Finance Ministry and we have recommended strongly the withdrawal of MAT and DDT and restoration of the situation as it was,” Commerce Secretary Rajeev Kher told reporters here.
Read More   Bach to Top

Government restores sugar export subsidy at Rs 3,300/tonne

The new government today reinstated the export subsidy at Rs 3,300 per tonne on raw sugar shipments to be undertaken during June-July, a move the industry said would boost exports. To help the cash-starved industry to pay arrears to sugarcane farmers, the previous government had announced a subsidy for export of raw sugar up to 4 million tonnes during 2013-14 and 2014-15 marketing years (October-September).
Read More   Bach to Top
State Scan

Goa

‘Goa Govt must fast-track new mining policy formulation process’

The drafting of a new mining policy, which is mandatory to resume iron ore extraction and exports from Goa, should be expedited so that the key industry gets back on its feet, according to stakeholders. Chief Minister Manohar Parrikar had earlier said that the policy would be drafted by June-end but the stakeholders feel that the government should fast-track the process so that the mining industry, which has been reeling under a Supreme Court ban for the last two years, can resume operations.

Gujarat

Chinese companies to invest USD one billion in Gujarat

To coincide with the visit of Chinese Foreign Minister Wang Yi, representatives of 15 Chinese companies from Wenzhou of Zhejiang province visited Gujarat to scout for opportunities to invest around USD one billion in various projects. “Chinese companies have a target to invest of USD 1 billion in the state of Gujarat this year,” said interim Secretary General of CITIC (China India Trade and Investment Centre), Jagat Shah.

West Bengal

West Bengal to set up global marketing hub for MSMEs in handloom

The West Bengal Small Industries Development Corporation (WBSIDC) today said it intends to create an international standard marketing hub for micro and small enterprises in the handloom sector. Named as ‘Biswa Khudra Bazar’ (BKB), the hub will come up at historic Santiniketan and the focus will be on community-led handicraft and handloom presentation. Santiniketan is a small town near Bolpur in the Birbhum district of West Bengal. The main aim of the project is to create an international marketing hub for Micro & Small Enterprises (called Biswa Khudra Bazar in Bengali).

Cochin

Cochin Port to modernise coal handling in PPP

Handling of coal at the Cochin Port will be modernised in Public-Private-Partnership mode at an estimated cost of Rs 198 crore, raising hopes that coal imports for the power plants located on the coasts will be made easier. The maritime gateway to peninsular India, Cochin is the fastest growing logistic centre emerging in to a major international transhipment terminal. An all-weather natural port, and located strategically close to the busiest international sea routes Cochin is promoting a major liquid terminal, bulk terminal and maritime industries in its port based SEZs .
World Watch

Iran    

India to Iran: Use pending oil payments to buy medicines, food

In a move that could help India clear its pending oil payments to Iran, the Government is planning to allow the sanction hit country to use the money to pay for humanitarian goods such as food and medicines bought in third countries. The Finance Ministry has asked UCO Bank to put in place the necessary payment arrangements, a Government official told Business Line. This could be done in dollars or euros without attracting any western sanctions. India owes Iran an estimated $3 billion to $4 billion in pending oil payments as it has not been able to transfer the money in dollars or euros for more than a year. This is due to sanctions put in place by the US and the EU against Iran for its alleged nuclear activities. Once among the largest crude oil supplier to India, Iran has now significantly slipped down the ranks with countries such as Iraq replacing it.

Oman    

India, Oman discuss ways to consolidate bilateral relations

External Affairs Minister Sushma Swaraj held talks with her Omani counterpart Yusuf Bin Alawi Bin Abdullah here today and discussed ways to further consolidate the strong bilateral relations and enhance project exports from India. Signalling a desire for continued engagement at high levels between the two countries, the Omani leader’s visit is the first by any foreign dignitary to India after the Narendra Modi-led dispensation came to power.

India overtakes Germany and Italy, is new world No. 2 in textile exports

India has overtaken Germany and Italy to emerge as the world’s second largest textile exporter. But it lags China, whose exports are nearly seven times higher. Data released by the Apparel Export Promotion Council, the industry body for garment exporters, showed that India’s textiles exports were estimated at $40 billion in 2013, compared with China’s $274 billion. Textiles includes everything from fibre and yarn to fabric, made-ups and readymade garments made of cotton, silk, wool and synthetic yarn.

India, US trade officials to start work on policy forum meet

Trade officials of India and the US are expected to meet here soon to prepare the groundwork for the ministerial level meeting of Trade Policy Forum (TPF). “Dy. USTR expected to travel to India to prepare groundwork for upcoming Ministerial Trade Policy Forum meeting,” Commerce and Industry Minister Nirmala Sitharaman tweeted. Deputy Unites States Trade Representative (USTR) Wendy Cutler will meet Commerce Secretary Rajeev Kher.
Upcoming Events

Interactive Session on Intellectual Property Rights (IPRs)

Date: 18 Jun 2014
Venue : Department of Electronics & Information Technology (DeitY) (Ministry of Communications & Information Technology) Electronics Niketan, 6, CGO Complex New Delhi
Time : 1030 to 1300hrs
See Details
Other Events

HEIMTEXTIL INDIA

Date: 19th June – 21st June 2014
Venue: Pragati Maidan, New Delhi, India
See Details

PaperTech Conference

Date: 20th June – 21st June 2014
Venue: Hyderabad International Convention centre, Hyderabad, India
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National Garment Fair Mumbai

Date: 23rd June – 25th June 2014
Venue: Bombay Convention & Exhibition Centre, Mumbai, India
See Details
Your Views

MSMEs expect a higher Economic Growth in the next two quarters with new government in place

According to the FISME Factor, with new government in place, 89 per cent of the Micro, Small and Medium Enterprises (MSMEs) expect a higher economic growth in the next two quarters.
Knowledge Store

HR Heuristics

Five Ways to sensitise employees on diversity

# With organisations become melting pots, human resource officers are finding it tougher to find innovative ways to get employees to be more in tune with the unique needs of diverse groups. 1. Communicate your diversity goals Make diversity a core pillar of your people strategy, and call out the areas of focus. “Mindtree’s diversity focus is based on the EDGES charter, anchored on four aspects of ethnicity or nationality, people with disabilities, gender, and sexual orientation,” says Ravi Shankar, chief people officer.

Finance Fundamentals

What financiers do when funding an SME, and what they can do better

The micro, small and medium enterprises (MSMEs) are the backbone of economic development in any country and more so in India as we have a huge population to be served. They are the incubators for talent, innovation and entrepreneurial spirit, which is key to a country’s development.

Marketing Mantras

Putting your money where your mouth is

Are you going to buy that new toothpaste, or have you forgotten what it’s called already? Crowded categories confuse shoppers. Here’s what brands can do to distinguish their latest product. Colgate has just announced the launch of one of its most innovative products ever.

Policy Polemic

Noida MSMEs want overhaul of import laws to avert assault from China-made items

In a bid to save the small and medium enterprises (MSMEs) especially the traditional manufacturers engaged in making earthen pot, candle and other festival items, the Noida-based industry experts have asked for redressal of the import laws, so that such units can be saved from China-made items. Industry insiders said that liberalisation in import laws have already damaged such traditional units who used to earn their bread and butter for the year during the festive seasons.

SME Special

SME funding to get Rs 5,000-cr boost

The government, with the help of the capital market regulator, is planning to set up a first of its kind co-investment fund to fund small and medium enterprises (SMEs), considered the backbone of the Indian economy. According to sources, the fund will have an initial corpus of Rs 5,000 crore and anchored by two state-owned financial institutions — insurance behemoth Life Insurance Corporation (LIC) and Small Industries Development Bank of India (Sidbi), an institution set up to provide funding for SMEs.

Success Story

How Digvijay Dhabriya built Rs 101 cr PVC manufacturing brand with sheer grit

“I just want to make a point that it’s not just great teachers who shape your life. Sometimes it’s the absence of great teachers that shapes your life, and being ignored can be just as good for a person as being lauded,” Julia Roberts.

Stockpile

The Central Statistical Office (CSO) released the Provisional indices for the month of March 2014 and also final indices for February 2014.

Quotable Quotes

” A leader is one who knows the way, goes the way, and shows the way. “
- John C. Maxwell, American author, speaker, and pasto
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Directory of Testing Laboratories in India

Directory of Testing Laboratories in India Buy our one-of-a-kind guide to all industrial testing laboratories in India. Find the one most convenient for getting your products tested and certified. An invaluable compendium for all industrial units and exporters.
PP: 894, Hard Cover.
Price: Rs 900.
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Free Publications

Identification & Valuation of IPRs in MSMEs  

Identification & Valuation of IPRs in MSMEs
Identification & Valuation of IPRs in MSMEs – Selected Research Papers.

Country Chronicles
FISME regularly receives monthly reports on the economies of various countries from their missions in India. These reports provide information on key economic parameters, trade related information and all news relevant for importers and exporters. In this edition you can take a look at reports on:
Starting a New Venture




World Cup results 17 June 2014

18 06 2014
Group H
Estadio Mineirao
Belo Horizonte
Belgium
Belgium
Algeria
Algeria
Full-time
2-1

Brazil wait for knock-out qualification, Belgium beat Algeria
BELGIUM BEAT ALGERIA 2-1 IN A STUNNING COMEBACK In a Group H match in Belo Horizonte, Belgium made a stunning rally to beat Algeria 2-1 with two second half goals.
Widely billed dark horse to lift the trophy, Belgium had to toil hard to erase the 0-1 deficit after Algeria had taken a surprise lead in the 25th minute against the run of play through a penalty kick conversion by Sofiane Feghouli.
Belgium, whose most of players ply trade in top European clubs, turned the match on its head with two goals in the space of 10 minutes.
Manchester United’s Marouane Fellaini equalised in the 70th minute through a glancing header before substitute Dries Mertens made a fierce finish with a low shot for the winning goal in the 80th minute.
17 Jun 2014 – 16:00 Local time
Group A
Estadio Castelao
Fortaleza
Brazil
Brazil
Mexico
Mexico
Full-time
0-0

Mexico stall Brazil World Cup charge in 0-0 draw

Mexico stall Brazil World Cup charge in 0-0 drawThe Mexican goalkeeper pulled off an incredible diving stop from a Neymar header and a seriesof other extraordinary saves, holding up Brazil´s march toward qualification from Group A.The 28-year-old, who has no club as his contract with French club AC Ajaccio has ended, did a lap of honour around the Fortaleza Castelao Stadium after one of the great World Cup goalkeeping performances. Basketball hero Kobe Bryant hailed “OCHOA!! Incredible” in a Tweet within minutes of the game ending.
“The precious draw left Mexico level with Brazil on four points from two games.While Ochoa deservedly grabbed the headlines, Brazil finished the game relieved to have earned a point.
Mexico had several late chances to score a shock upset, with Brazil grateful to their own goalkeeper Julio Cesar for keeping the match goalless.
The draw maintained Mexico´s impressive recent record against Brazil following their shock victory in the final of the London Olympics football tournament in 2012.
17 Jun 2014 – 18:00 Local time
Group H
Arena Pantanal
Cuiaba
Russia
Russia
Korea Republic
Korea Republic
Full-time
1-1

Russia, S Korea to World Cup  1-1 draw

Kerzkakhov saves Russia in World Cup return

Russia S Korea draw
CUIABA: Alexander Kerzhakov rescued Russia in their first World Cup finals match since 2002, scoring three minutes after coming on as substitute to salvage a 1-1 draw against South Korea on Tuesday.
The 31-year-old St Petersburg striker  is the sole survivor from the squad that appeared at the 2002 World Cup finals — was brought on after rival´s substitute Lee Keun-Ho put South Korea ahead with a 30 metre shot that Russian goalkeeper Igor Akinfeev disastrously parried over his head into the net.
The result left both countries trailing Belgium who head the Group H table after beating Algeria 2-1 earlier.Russia, who host the 2018 finals, were looking to make an impact in their landmark return.
They owed their saved honour to Kerzhakov who scored his 26th international goal. On Akinfeev´s error Russian coach Fabio Capello said: “Just like some players can miss penalties it can happen that a keeper makes a mistake as well.
“You can accept a mistake from a great keeper like Akinfeev. Today it turned out fine.”The reaction of the players was really good,” the Italian added when asked about the Korean goal.
“That was important to me.”Korean coach Hong Myung-Bo commented: “It´s the first match and I´m satisfied.
“The last two countries to make their appearance in Brazil 2014 slowly cranked up the tempo in 77 percent humidity under the Arena Pantanal´s floodlights.
The Koreans began brightly enough, with Bayer Leverkusen´s Son Heung-Min testing Akinfeev early, his right-footed shot going high.
Seconds later the midfielder was booked unfairly by Argentine referee Nestor Pitana.
Playing all in white to Russia´s maroon and watched by a near-full stadium where the prominent colour was Brazilian yellow, the Taeguk Warriors showed technical ability without ever threatening to score.
The largely local crowd began to vent their frustration at what they perceived to be the lack of spectacle served up for their evening entertainment.
A half-hearted Mexican wave — never a good sign especially in the first half hour of a match — crept its way round the stands, as Sergei Ignashevich struck a 30 metre freekick straight into Korean keeper Jung Sung-Yong´s hands.Korean captain Koo Ja-Cheol livened things up with a low left-footed effort.

Then Son, who found the net 11 times for Leverkusen last season, had a real chance in front of goal but his shot sailed exuberantly over Akinfeev´s crossbar.
The Koreans had the upper hand as the tepid first half drew to a close, their midfield putting together some neat moves, with Han Kook-Young and Sunderland´s Ki Sung-Yeung proving a handful.
The teams emerged for the second period with this World Cup´s third goalless draw within 24 hours only 45 minutes away.
If Russia were to give coach Capello something to celebrate on his 68th birthday at midnight, they´d have to up their game.
And they came out fighting with two quick chances from Victor Fayzulin and skipper Vasily Berezutski.
Down at the other end, Akinfeev did well to deny Koo´s potent drive.In a bid to shake things up Korean coach Hong Myung-Bo, captain of the side that finished fourth at the 2002 World Cup, introduced prolific striker Lee for Park, and it proved a useful switch.
On 68 minutes, Lee broke the deadlock in style, charging towards the Russian box, rounding a defender to shoot right-footed. Akinfeev looked devastated after at first seeming to halt the ball but then watching in horror as it went over his head.
Russia pulled back level when Kerzhakov, after coming on for Yury Zhirkov, pounced on the ball after a goalmouth scramble to shoot home from close range.

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