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Showing posts from July, 2012
Ukraine’s Parliament, the Verkhovna Rada, voted on Monday against repeal of a controversial bill granting Russian language official status in about half of Ukraine’s regions.
Opposition members unsuccessfully introduced four different draft resolutions aimed at abolishing the Rada's July 3 approval of the bill, which critics say was rushed through the Rada unconstitutionally by the ruling Party of Regions to score political point with President Viktor Yanukovich’s Russian-speaking support base.
The Rada also voted against the resignation of its Speaker Volodymyr Lytvyn, who stalled the passage of the original language bill by refusing to sign it into law. Lytvyn tendered his resignation on July 4 in protest.
The bill requires the signature of both the parliament speaker and the president to become law. Today’s extraordinary session of Parliament, which had gone on recess earlier this month until…
Ukrainian parliament ratified a free trade zone agreement on Monday with the Commonwealth of Independent States (CIS).The Economic Council of the CIS states approved in April 2011 a draft agreement on a free trade zone that would move the grouping of most of the former Soviet republics further toward liberalized trade. The agreement was signed in October 2011. Ukraine became only the third country which ratified it after Russia and Belarus.The CIS includes Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Uzbekistan and Ukraine.

The document was originally drafted by Russia's Economic Development Ministry in 2008. The agreement stipulates cutting import duties to a minimum, and suggests that export duties be harmonized and eventually abolished.
Ukraine, whose trade with the CIS countries amounts to $140 billion a year, also intends to go ahead with its plans to create a free trade zone w…

Ukraine:Yulia Tymoshenko is chosen opposition leader

Yulia Tymoshenko, who resigned as prime minister after losing the presidential election to Viktor Yanukovych in February 2010, is charged with illegally diverting $425 million meant for environmental projects into pension funds. A second case includes accusations of spending 100 million euros ($131 million) from government reserves to buy cars that she later used in her presidential campaign.

Jailed Ukrainian ex-prime minister Yulia Tymoshenko has been chosen by the country’s main opposition parties to lead them to victory in parliamentary elections slated for October.
A statement issued at the end of the united opposition parties’ congress on Monday endorsed the candidacy of the former prime minister to head the opposition parties' electoral lists in the elections.
The move may be simply symbolic for the embattled former prime minister because Ukrainian law prohibits people who are serving a prison term from running in national elections.
Tymoshenko was sentenced in O…

Press Conference: Syndicate Bank CMD declares Q1 Results 2012

Press Conference:CMD Oriental Bank of Commerce declares Q1 Results 2012

Naresh --

This isn't hyperbole or exaggeration:

If we don't win this election, it will be because we didn't close the spending gap when we could.

Because right now we're seeing that voters have a choice between two very different men.

And the only way someone like Mitt Romney -- who's asking Americans to put him in charge of their taxes while refusing to come clean about his own, who wants to repeal Obamacare, end Medicare as we know it and give more tax breaks to billionaires who don't need them -- defeats someone like Barack Obama, is if the other side spends us into oblivion.

Tomorrow is the most urgent fundraising deadline of this campaign so far. Will you make a donation of $3 or more today to make sure we can keep this close over the last 100 days?

It's already starting on TVs and radios in swing states, and it's not going to stop.

In the last two weeks of this month, Romney and his allie…

Hi Naresh,

Wishing you many happy returns of the day. Have a fabulous year ahead.
Happy Minting :-)


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Romania’s Central Electoral Bureau said that the voter turnout in Sunday’s referendum stood at 45.9 percent, which was short the majority out of some 18.3 million eligible Romanian voters.

Basescu, who has been in power since 2004, was suspended by the parliament before the referendum. He has seen his popularity slump after he backed tough austerity measures demanded by Romania's international lenders.

The center-left government led by Victor Ponta accused Basescu of exceeding his authority, undermining the rule of law and meddling in government affairs. Basescu has denied the accusations and has urged Romanians to boycott Sunday's referendum.

 A national Romanian referendum to impeach embattled President Traian Basescu for overstepping his powers has failed due to a low voter turnout

India's farm exports jump by 88 pc

The export of agricultural items monitored by APEDA, the government-run export promotion body for farm products, rose by 88 per cent to about Rs 82,000 crore in the last fiscal, a top official said.

The growth was achieved on the back of increased export of processed foods, basmati, non-basmati rice, guar (gum and seed), buffalo meat and groundnut. India's agri exports under Agricultural and Processed Food Products Export Development Authority (APEDA) stood at Rs 43,626.88 crore in the 2010-11 financial year. "Our farm export earnings have jumped to around Rs 82,000 crore in 2011-12 fiscal helped by rise in exports of processed food, basmati and non-basmati rice, guar, buffalo meat and ground nut," APEDA Chairman Asit Tripathy told agency. Shipments of processed food from the country are increasing, which is a good sign. Also the country reaped huge benefits from the global spurt in demand for guar seed and gum due to rise in shale gas explorations in the U…
SKorea wins rights to undersea mine in Indian Ocean July 30, 2012 South Korea on Monday announced that it has secured exclusive rights to explore and develop a deep sea mine in the resource-rich Indian Ocean that can produce over USD 300 mn worth of minerals like gold, silver and copper per year.
The International Seabed Authority (ISA) last week unanimously agreed to recognise South Korea’s rights to the offshore mine that lies across an area of 10,000 square kilometers in the Indian Ocean, the government said.
The site contains hydrothermal vents that could yield metals including gold, silver, copper, zinc and lead, South Korea’s maritime ministry said in a statement. The estimated production would reach about 46,000 tonnes, worth USD 320 million, per annum, it said.
“This is the result of aggressive efforts by the government and related agencies on investment, research and international diplomacy… amid fierce global competition to secure resources,” it sa…

Oriental Bank of Commerce – Q1 Financial Results

July 30, 2012
                                                                           Amt.                            (YoY Growth) 

                                      Business Mix           Rs. 2,72,100 crore      (12.06%)

                                      Deposits                     Rs. 1,58,200 crore      ( 9.41%) 

                                      Core Deposits          Rs. 1,16,200 crore      (19.61%)

                                      Advances                  Rs. 1,13,900 crore      (15.97%)

                                      Net Profit                    Rs. 391.42 crore         (10.35%)

CD RATIO AT 72.21%
NET NPA AT 2.05%

Performance Highlights for the First Quarter of FY 2012-13

Ø  Yield on Advances increased by 76 bps (Q1 to Q1) to reach 12.38% from 11.62%.

Ø  Interest Income increased by 19.20% (Q1 to Q1).

Ø  Non Interest Income increased by 26.11% (Q1 to Q1) mainly due to recovery of Rs. 196.73 crore…

4th Global sports Summit 2012 FICCI Sports Awards


FICCI Business Delegation to Oman & Qatar

FICCI Business Delegation to Oman & Qatarcoinciding with 5th INDEXPO MUSCAT ExhibitionSeminar, B2B Meetings & Indian Exposition Sept 4th - 9th, 2012: Muscat & Doha Dear Sir/ Madam,
We are pleased to inform you that Federation of Indian Chambers of Commerce & Industry (FICCI) is mounting a multi-sectoral business delegation to Qatar & Oman from September 4th -9th, 2012 in association with Oman Chamber of Commerce & Industry, Qatar Chamber of Commerce & Industry (QCCI), Directorate General for the Development of Small and Medium Enterprises, Ministry of Commerce & Industry, Oman and Indian Embassy’s in Oman & Qatar. OMAN: India’s export to Oman grew from USD 630 mn in 2006-7 to USD 1.15 bn in 2010-11. Oman’s import on the other side grew from USD 458 mn to USD 4 bn during the same period. Some of the sectors identified for focused attention are Agriculture, Information Technology, Chemicals, Food Products, Education & Training, Manufacturing, M…



We are pleased to inform you that FICCI is taking a business delegation to Ukraine to participate in the next India-Ukraine Joint Business Council (JBC) Meeting, scheduled to be held on the 6th of September, 2012 in Kyiv, Ukraine. The meeting will be addressed by Mr. Anand Sharma Hon’ble Minister of Commerce & Industry, Government of India.

As you may be aware, there lies a huge potential for cooperation with Ukraine in sectors like  Pharmaceutical, Gems and Jewellery, Medical equipments, Agri and Food Processing, Plantation, Medical Tourism, Information Technology, Auto Components, Power, Heavy Engineering, Leather, Textiles, Infrastructure, Defense, Handicrafts etc.

The JBC Meetings have in the past played an extremely important role in laying the foundation for the development of India-Ukraine economic relations.

Some of the major highlights of the meeting include: one-to-one busin…

ISTITUTO ITALIANO DI CULTURA 50-E, Chandragupta Marg Chanakyapuri, New Delhi-110021 Ph: 26871901,03,04 Fax: 26871902 Website: Email: ITALIAN LANGUAGE COURSES AUTUMN SESSION AUGUST-DECEMBER 2012 The Italian language courses offered by the Istituto Italiano di Cultura, New Delhi, are in accordance with the guidelines prescribed by the Common European Framework of Reference (CEF) for languages, which divides foreign language proficiency into three broad levels: Levels Proficiency Description A1 and A2 Basic User (Elementary) B1 and B2 Independent User (Intermediate)