NEW DELHI: India plans to export petrol and diesel to Pakistan to help its rival meet its energy needs and to open up a new market for Indian refiners such as giant Reliance Industries, a report said. "Pakistan is keen to import refined petroleum products from across the border to save costs," the Economic Times said on Monday, quoting an Indian government official with "direct knowledge" of the plan. The Indian side was due to put the final touches on the plan before a two-day meeting starting Wednesday between the commerce secretaries of India and Pakistan in Islamabad,...
Published On: 2011-04-25

NEW DELHI: India’s dreams of attaining double-digit economic growth within the next few years are fading, undermined by high inflation, slow progress on reforms and an uncertain global outlook. The ruling Congress party has long wanted to make history as the administration which ushered in growth of 10 per cent — touted by successive governments as vital to significantly reduce crushing poverty. But India’s main economic planning body looks set to row back on the goal of double-digit expansion when it fixes the country’s five-year economic, social and other goals to 20...
Published On: 2011-04-24

ILAM: The closed tea gardens and industries in the eastern districts have not come into operation yet as the disputes between the labourers and the owners were not resolved. The tea workers launched an agitation by putting forth their 28-point demands including increase in wages, social security and others. Tea farmers have also launched protest programme immediately by demanding markets to the tea produced in the tea gardens. The labourers complained that the industry owners are not serious towards their demands. Likewise, the workers have expressed reluctance to withdraw their protest pr...
Published On: 2011-04-24

HONG KONG: Asian stocks were mostly lower in holiday-hit trade on Friday, with Tokyo almost unchanged after a two-day rally and as the yen continued to strengthen against the dollar. Tokyo’s Nikkei closed flat, edging down 3.56 points to 9,682.21 and Seoul was also flat, giving up 0.72 points to 2,197.82. Shanghai fell 0.53 percent, or 16.15 points, to 3,010.52 and Taipei ended 0.13 per cent, or 11.78 points, higher at 8,969.43. Kuala Lumpur ended 1,522.75, or 3.58 points, lower at 1,522.75 and Bangkok closed down 0.42 per cent or 4.63 points to 1,105.29. Markets in Hong Kong, Sydney, ...
Published On: 2011-04-23

KUALA LUMPUR: Malaysia said on Friday it would ask independent experts to assess the environmental impact of a planned refinery processing rare earths from Australia, amid protests against the huge facility. Trade Minister Mustapa Mohamad said the government had decided to form the international panel after listening to public concerns over the plant, which is being built by the Australian mining company Lynas in Malaysia’s Pahang state. Lynas has described the facility as the largest of its kind in the world and the plant is set to be one of the few sources of rare earths — used...
Published On: 2011-04-23

SHANGHAI: Shanghai authorities have offered concessions to truck drivers who staged a strike over rising fuel costs, amid concerns that anger over inflation could spark wider unrest in China. Hundreds of drivers picketed this week at shipping sites in Shanghai, the world's busiest container port, calling for lower port fees to offset damaging hikes in diesel prices, in a strike that prompted a heavy police response. The Shanghai Municipal Transport and Port Authority published a set of proposals late Friday in response to strikers' demands, abolishing or reducing various fees incurred by dri...
Published On: 2011-04-23

KATHMANDU: With rising global interest in bio-energy, there is a need for common global guidelines on standards related to sustainability criteria for bio-energy, according to the experts, who participated in a three-day standardisation workshop to strengthen institutional capacity of standard organisations, private sector and other relevant stakeholders from the South and Southeast Asia regions on sustainable criteria for bio-energy. Producing bio-energy from wastes, need for international cooperation to help developing countries assess the impact of bio-energy production on food security an...
Published On: 2011-04-22

PARIS: Airlines in the Asia-Pacific region will grow strongly in the next few years but air transport in Europe is likely to stagnate, the outgoing head of the International Air Transport Association (IATA) said on Friday. IATA president Giovanni Bisignani told the La Tribune newspaper that “Europe is by far the biggest problem for the sector.” Bisignani blamed European governments for being more interested in raising taxes from the industry than in supporting growth and providing infrastructure, and also warned that the rising cost of fuel was a disaster. Airbus cost-cutting P...
Published On: 2011-04-22

TOKYO: Tokyo stocks will be waiting for the start of the Japanese results reporting sFeason and indications of US monetary policy to give them direction in the coming week, brokers said. In the week to April 22, the headline Nikkei index gained 0.95 per cent, or 90.69 points, to 9,682.21. The Topix index added 0.11 per cent, or 0.89 points, to 842.18. “Stocks are likely to be stuck in a narrow range amid the lack of clear direction,” said Tsuyoshi Segawa, equity strategist at Mizuho Securities. “The biggest concern of the market is the impact of the quake and tsunami on Jap...
Published On: 2011-04-22

SEOUL: South Korea's Samsung Electronics Co. said it is suing Apple Inc. for patent rights violations, only days after Apple sued Samsung for the same reason. Samsung is accusing Apple of violating its rights to 10 smartphone and computer patents. The company filed lawsuits Thursday in Seoul, Tokyo and Mannheim, Germany. The lawsuits come only days after Apple sued Samsung in a California court. Apple alleges Samsung's Galaxy line of smartphones and tablet computers copy Apple's popular iPad and iPhone. The lawsuits are the latest in a long string of patent disputes among phone makers. In r...
Published On: 2011-04-22