The next round of annual US-China Strategic and Economic Dialogue would be held in Beijing on July 9 and 10.
US Secretary of State John Kerry and Treasury Secretary Jack Lew would travel to China next week for this omprehensive dialogue between the two countries.
They would be joined for the Dialogue by their respective Chinese co-chairs, State Councilor Yang Jiechi and Vice Premier Wang Yang, along with members of the US delegation and their Chinese counterparts.
“The Dialogue will focus on addressing the challenges and opportunities that both countries face on a wide range of bilateral, regional and global areas of immediate and long-term economic and strategic interest,” an official statement said.
Andre Schuerrle and Mesut Ozil struck in extra time to earn Germany a 2-1 win over Algeria in a pulsating last-16 clash here and a quarter-final date with France.Chelsea forward Schuerrle broke the deadlock in the 92nd minute, with Arsenal’s Ozil adding a second in the 120th minute.
Abdelmoumene Djabou struck in the first minute of stoppage time to give Algeria a consolation goal.
This was Algeria’s first ever appearance in the knockout stages and they covered themelves with glory, taking the game to the three-time champions.
Sporting Lisbon striker Islam Slimani had a goal disallowed for offside in the first half while Germany’s best early chance came as the break beckoned, when only the lightning reflexes of Algeria keeper Rais Mbolhi denied first Toni Kroos’ and then Mario Goetze from the rebound.
Germany coach Joachim Loew introduced Schuerrle for Goetze after the interval and he almost made an immediate impact, his 48th minute drive only narrowly deflected. Mbolhi then made a superb flying fingertip save to deny Phillip Lahm.
In an enthralling evening’s entertainment at this southern port city Mbolhi once again did the north African’s proud, punching away Thomas Mueller’s header with 10 minutes of regulation time remaining.
With the sides deadlocked, extra time was required, and Schuerrle finally was the man to find a way past Mbolhi, flicking the ball with the inside of his heel at close range after Mueller’s cross from the left in the 92nd minute.
Ozil then struck before Djabou’s contribution.
Friday’s quarter-final at Rio de Janeiro’s Maracana is a repeat of the 1986 semi-final won by the then West-Germany.
France struck twice in the second half to beat Nigeria 2-0 and enter the quarter-finals of the FIFA World Cup at the Estadio Nacional on Monday.
France broke the deadlock in the 79th minute through Paul Pogba before doubling their lead in additional time through an own by Joseph Yobo.
Nigeria started on bright note and enjoyed the lions’ share of possession at least in the opening 20 minutes of the game.
Neigeria’s persistent efforts resulted in a free-kick just outside the French circle in the 17th minute when Peter Odemwingie was brought down by Blaise Matuidi but the Super Eagles failed to cash in on the chance.
Two minutes later Emmanuel Emenike found the back of France net with a deft touch only to to be ruled out marginally off side by the line referee.
Nigeria certainly was on top at the opening exchanges as France played the second fiddle. But France got their acts back quickly and had a great chance in the 22nd minute only to be denied by a brilliant Vincent Enyeama in front of Nigeria goal.
Enyeama showed brilliant reflexes to keep out Paul Pogba’s powerful shot after a one-two with Mathieu Valbuena.
France enjoyed a rare spell of possession in the last 12 minutes of the opening half but to no avail as their forwardline lacked creativity.
The Les Bleus had one one of the best chance of the half in the 40th minute when Valbuena clipped a ball into the onrushing Debuchy whose effort was off target. The Newcastle man should possibly have done better with that despite the box being crowded with bodies.
French strikers Olivier Giroud and Karim Benzema were almost anonymous in the opening half as Nigeria came out with stout defending.
Just like the opening half, Nigeria started livelier of the two teams after the change of ends.
Odemwingie came close to breaking the deadlock for Nigeria but his fierce strike well saved by skipper Hugo Lloris in front of French goal.
France coach Didier Deschamps’ decision to bring in Antoine Griezmann in place Giroud was bang on target as it imbibed fresh life into their forwardline. Benzema then looked threatening for the first time in the match in the 70th minute but his effort was cleared off the line by Victor Moses.
Seven minutes later, France came tentalisingly close to breaking the stalemate when Yohan Cabaye’s effort rattled the woodwork.
But France’s consistent pressure finally bore fruit when Pogba headed in from their eighth corner after Enyeama flapped at a cross which found Pogba in a clear position. If not for that one mistake, Enyeama stood like a rock in front of the Nigeria goal as six minutes from whistle he sticked out a huge hand to deny Griezmann.
It was all over Nigeria as France doubled their lead in the extra-time when Yobo scored an own goal while trying to clear Valbuena’s low ball towards Griezmann. France will meet the winners of the match between Germany and Algeria in the quarterfinals
The Central Bureau of Investigation has completed its probe in the multi-crore Adarsh Society scam with the agency filing a second supplementary charge sheet in a special CBI court last month.
The agency is also preparing a Self Content Note (SCN) of the flat owners who were found ineligible to buy a flat in the society which will soon be handed over to the Maharashtra government.
“The charge sheet is filed against five accused, including one member and four financiers,” a CBI official said on Tuesday.
One of the society members died, hence he was not named in the charge sheet, said the official.
The charge sheet, filed last month, names former MLA Mukundrao Mankar, Landscape Realtors Private Limited (LRPL), Sanjay Kondwar and Gopal Kondwar (both directors of LRPL) and UK-based NRI Sharad Madan.
The flat of Lieutenant Colonel-rank personnel was allegedly financed by Madan but since he is no more, the agency has named only Madan in the charge sheet.
LRPL was a shell company floated with a sole aim of allegedly financing ‘benami’ flat in Adarsh, the official said.
“LRPL gave a loan of Rs 62 lakhs to Mankar,” he alleged.
According to the charge sheet, LRPL received money from other five to six shell companies.
Interestingly, the address of one of the shell companies which allegedly financed LRPL is that of an educational institution chaired by a state Cabinet minister.
The CBI said that they have not found any link of the involvement of the minister.
Meanwhile, the agency is preparing a SCN of the 27 flat owners who were found ineligible to buy a flat in the society. The SCN will be handed over to state Chief Secretary.
“The list of 27 members include flats of Indian diplomat Devyani Khobragade and former Union Power Minister Suresh Prabhu,” said the CBI official.
Once the SCN on CBI findings is submitted, the state government can decide on the future course of action, he said.
“The state can decide on whether or not to cancel their membership,” said a CBI official.
The official also said that “loan availed by relatives of former state Chief Minister Ashok Chavan from a Pune-based builder were returned within few years after purchase of flat.”
The 13 accused named in the first charge sheet of CBI, which includes Ashok Chavan, have been charged with criminal conspiracy, cheating and criminal misconduct under the Indian Penal Code, besides the Prevention of Corruption Act.
However, the CBI later moved the Bombay High Court saying that Chavan’s name be dropped as Maharashtra Governor has not given sanction for his prosecution.
New Delhi, June 30, 2014: Post the recently conducted Usha DGC Junior Golf Training program (JTP), the last camp of which was concluded on the 20th of June 2014, Usha International presents the USHA DGC Junior Golf Championship, 2014, which is set to get underway at the lush green Delhi Golf Club. Round 1 will be played at the Lodhi course and the Peacock course on July 1, Tuesday and July 2, 2014.
The draw has seen acceptance from 103 junior golfers in all. The event will be played in the stroke-play format over three days and 54 holes. The winner is likely to emerge on Friday, July 04, 2014.
India’s external debt at about US$ 441 bn
India’s external debt, as at end-March 2014, was placed at US$ 440.6 billion showing an increase of US$ 31.2 billion or 7.6% over the level at end-March 2013. The increase in total external debt during financial year 2013-14 was primarily on account of rise in Non-Resident Deposits. The surge in outstanding stock of NRI deposits can mainly be attributed to mobilisation of fresh FCNR(B) deposits by commercial banks under the swap scheme offered by the Reserve Bank during September to November 2013. In terms of major components, the share of external commercial borrowings continued to be the highest at 33.3% of total external debt, followed by NRI deposits (23.6%) and short term debt (20.3%)
External Debt – Outstanding and Variation
Source: Ministry of Finance, Government of India and Reserve Bank of India
On the other hand, increase in the magnitude of external debt was partly offset by the valuation change (gain) resulting from appreciation of US dollar against Indian rupee and other international currencies. Further, share of short term debt in total debt in terms of original maturity as well as residual maturity also declined due to net repayments of short-term debt and withdrawal of FII investment from debt securities during 2013-14.
Based on residual maturity, the short-term debt accounted for 39.6% of total external debt as at end-March 2014 as compared to 42.1%% at end-March 2013. Within the short-term debt based on residual maturity, the share of NRI deposits was the highest at 31.4%. The ratio of short-term debt by residual maturity to foreign exchange reserves worked out to 57.4% at end-March 2014.The valuation gain during 2013-14 amounted to US$ 9.4 billion reflecting the appreciation of US dollar against the Indian rupee and other major currencies. Thus, excluding the valuation gains, the stock of external debt as at end-March 2014 would have increased by US$ 40.6 billion instead of US$ 31.2 billion over end-March 2013. US dollar denominated debt continued to be the largest component of India ’s external debt with a share of 61.8% as at end-March 2014, followed by Indian rupee (21.1%), SDR (6.9%), Japanese Yen (5.1%) and Euro (3.4%).
Residual Maturity of External Debt Outstanding as at End-March 2014
Government (Sovereign) external debt stood at US$ 81.5 billion as at end-March 2014 as against US$ 81.7 billion as at end-March 2013. The shares of Government and non-Government external debt in the total external debt were 18.5% and 81.5%, respectively, as at end-March 2014
India’s Key External Debt Indicators
Dr. S P Sharma
PHD Chamber of Commerce and Industry
August Kranti Marg, New Delhi – 110016
Tel 91 11 49545454, Fax 91 11 26855450,
E mail – email@example.com
Jun 30 at 7:43 PM
June30, 2014AAP is the only party, thanks to Anna Hazare Movement against
corruption, within weeks registered millions of Workers and Volunteers
across India, was getting funds from all over the world. His
reluctance to contest outside Delhi is surprising.
This was unprecedented response to a newly formed party and securing
11.3m votes in 2014 Lok Sabha election when it had not a single
National Level Leader.
But AAP politics remained localized for Kejriwal and only for
Kejriwal. He called workers and volunteers to support him in Varanasi
neglecting campaigning across India, which he eventually lost was
primarily responsible for poor show.
AAP remained Opportunistic Party exploiting Local Issues than
providing VISION – even Lame Duck vision is better than no vision.
He has not spelt out his ECONOMIC AGENDA to the people.
AAP has not been able to out of initial success when Delhi voters
expressed unprecedented faith in his leadership but he preferred to
stay on streets than work for people and remove corruption from system
and also improve all services.
AAP didn’t win a single seat outside Punjab where it won four seats
and sizeable vote share 24.4% this was next only to Delhi vote share
AAP failed because it didn’t have NATIONAL AGENDA and Clear Road Map
to improve Income and Wealth Sharing of Indians and AAP didn’t support
candidates except in few regions.
Polling 4.2% votes or 48,802 votes average per constituency is not bad
for Haryana contesting first time against 4-5 parties already
established for decades.
Reluctance to contest from Haryana primarily Rural Dominated economy
indicates AAP preference for Urban centric policies than Rural Farming
MSME serving majority.
Political fever that helped him get good percentage of votes in
December and April state and national elections is over – it shall be
AAPs third attempt in Delhi and hopefully second in other states going
to polls shortly and he must come up with Concrete Agenda and Vision.
Ravinder Singh, National General Secretary.
Sabka Bharat Mission 2019
Y-77, Hauz Khas, New Delhi -110016
Ph: 9650421857, 9718280435
Today at 12:54 AM
There is long list of Ambani Companies MEGA Bungling. CAG and CBI are
not reporting full extent of RIL Bungling.
1.1] 4G Scam: In addition to the Rs.40,000 crores in Reliance Jio it
is not reported SIDE SCAM of Rs.25,000 Crores Rural Broadband Program.
1.2] In 2002 RIL laid Optical Fiber Network that was to Provide Broad
Band services at par with Singapore in Indian Cities but when it got
WLL License cheaply and that Local Wireless was converted to National
Service and soon converted to regular GSM / CDMA licenses it gave up
BROAD Band plan in 2003.
1.3] Last few years SAM PITRODA helped RIL in MISDIRECTING BSNL
Rs.25,000 Cr Rural Broadband Program. Optic Fiber based BROAD BAND is
most suitable for Metro Cities and other densely populated area. A
single Optical Fiber can serve a Multi Story Building or Five Star
Hotel. But PITRODA Misguided DOT in to supporting Wireless 2G, 3G, and
4G Services in cities based on all Imported Hardware and Software.
But for Rural Broad Band 4G Services are MOST EFFECTIVE and Economical
– a 4G Tower can serve several hundred villages and some towns
ensuring Speed & Reliability.
1.4] RIL was also caught red handed Operating 30 Clandestine
Telephone Exchanges in RE-ROUTING International calls as Locals but
let off lightly.
Ravinder Singh, National General Secretary.
Sabka Bharat Mission 2019
Y-77, Hauz Khas, New Delhi -110016
Ph: 9650421857, 9718280435
Petition against 4G licence to Reliance Jio Apex court seeks Centre’s reply
PTI/ Our Bureau
New Delhi, May 9:
The Supreme Court on Friday sought response of the Centre and telecom
regulator TRAI on a public interest litigation filed by an NGO
challenging grant of 4G licences to Mukesh Ambani’s Reliance Jio
Infocomm Ltd (RJIL).
A Bench of Justices HL Dattu and SA Bobde issued notice to the Centre,
Telecom Regulatory Authority of India (TRAI) and RJIL on the petition
of NGO, Centre for Public Interest Litigation (CPIL), which challenged
the Government’s decision to allow Mukesh Ambani’s company to offer
voice services on its 4G spectrum.
The PIL, filed through advocate Prashant Bhushan, also sought quashing
of the permission granted by the Government to Reliance for providing
voice telephony on Broadband Wireless Access (BWA) spectrum and
pitched for a court-monitored CBI investigation in the alleged Rs.
The petition said that the Centre’s decision to allow voice telephony
has given undue benefit of about ₹22,842 crore to RJIL and
corresponding loss to the Government and “is therefore arbitrary,
unreasonable and discriminatory“.
It also alleged that the company was allowed “backdoor entry” into
voice telephony using BWA spectrum by paying entry fee of meagre
amount of Rs. 1,658 crore determined way back in 2001, a figure which
was rejected by the apex court in its February 2, 2012, judgement in
2G spectrum allocation scam case.
Reliance Jio reaction
“We have not received any notice of any petition so far filed by
Prashant Bhushan. This appears to be one more in a series of attempts
to create a controversy in a next-generation foray which Reliance is
determined to create
South Asia is a tough environment for optimists. Too many false starts and near misses. But sitting in Kathmandu, I feel optimistic about the prospects for regional integration in South Asia. My optimism arises because of the news of Foreign Minister Sushma Swaraj’s imminent visit to Dhaka to be followed by her visit to Kathmandu reportedly in preparation for Prime Minister Modi’s tentatively planned visit to Nepal in the beginning of August.
This is just amazing news, coming as it does on the heels of his invitation to South Asian heads of government for his swearing in and making Bhutan his first foreign visit. If Modi does visit Nepal, ahead of his first speech from the Red Fort and prior to visiting any country outside South Asia, it will mark a positive change in Indian foreign policy.
For me, who has been propagating the cause of and working on regional cooperation in South Asia since the mid- eighties ( nearly 30 years), this is almost too good to be true. My hope is that this change in the focus and orientation of our foreign policy will soon be reflected down the line in the MEA. Henceforth, South Block and India will wholeheartedly accept the asymmetric responsibility for making South Asia an integrated economic space with open borders that permit free, but legally permitted movement of people, goods and services.
Modi’s predecessor, Manmohan Singh, was himself a strong proponent of open borders in South Asia. But quite inexplicably he did not find the time to visit Nepal! Consequently, Indo- Nepal relations suffered inordinately. Many friends of India have been angry at Nepal being left to be handled by the ‘ Agencies’ with political contacts being allowed to wither away. This could be the critical difference between Singh and Modi. The latter has quite visibly put politics in command. For a Prime Minister to have met all his counterparts in the region and visited two neighbouring capitals within the first 100 days of becoming Prime Minister is history making action.
It clearly distinguishes Modi from all his predecessors. It also sends a clear signal that henceforth India will give the highest priority to its neighbourhood, and not look for kudos from global powers or seek to punch above its weight on the global scene. Realism and the pursuit of national interest, the two drivers of India’s foreign policy, requires that South Asia has now become India’s central focus.
Coming back to Nepal, it may be important for the two governments to try and sort out some of the outstanding issues in Indo- Nepal relations prior to Modi’s visit that is also aimed at paying homage to Lord Pashupatinath, the protector of Kathmandu. There is a good chance for an agreement being finalised between GMR and the Government of Nepal to start work on the 600 MW hydro power project. The PMO could encourage GMR to take a quick decision on this and push the project forward.
This will mark a major breakthrough and could be the beginning of Nepal’s journey to prosperity and South Asia’s progress to energy security.
India also needs to address the concerns of a vocal minority in Nepal which is opposed to export of hydropower to India if the commercial exploitation of nearly 80,000 MW of Nepal’s hydropower potential could become a reality. Modi would do well to push the envelope forward, by declaring, while in Kathmandu, India’s support for a South Asian region electricity grid and announcing India’s willingness to allow unimpeded flow of Nepalese hydropower energy across Indian territory to other countries in South Asia. This will be a big win and has the potential to change the development trajectory in the entire region.
At the same time, some minor irritants have to be removed to make this visit truly historical. Indian border officials do not endear themselves to the vast number of Nepalese who cross the open border and go back home from their jobs in India. The petty and ham- handed corruption and harassment meted out by personnel of the Seema Suraksha Bal, other para- military forces and the Customs department to Nepalese youth changes potential goodwill towards India into deep seated anger among them.
This results in the creation of long term negative sentiment that is difficult to counter despite the presence of a large number of Nepalese who have been educated in Indian universities and carry very fond memories for their time spent in India. This pernicious practice can surely be changed almost overnight with strict directions going out from the home ministry and the CBEC. The PMO may want to ensure that such directions are issued prior to Modi’s visit.
Secondly, India still requires the testing of food products exported from Nepal ( ginger is one of them) to be tested in CFTRI laboratories located in Kolkata, Delhi or Lucknow. This process takes up to 2- 3 weeks and is marked with rampant rent seeking. India should create sufficient testing capabilities within Nepal in a fast track manner under our technical cooperation program.
Finally, India has to demonstrate its sensitivity to the vulnerability felt on a daily basis by a land locked country like Nepal. It was a huge mistake on our part to have flexed our muscle in the past and exposed Nepal’s critical dependence on India for all its necessary imports. Such negative memories take exceptionally long to be erased. Do Indians still not remember 1962? The surest way to help Nepal build a more trust based relationship with India is for Modi to guarantee unimpeded access to Indian roads and ports and airports for goods and services being imported or exported by Nepal.
He will surely be able to find the right formulations to convey this guarantee as explicitly as possible.
Modi appears to have a vision for South Asia, which is in sync with his vision for India. More importantly he has already started taking decisive action in pursuit of this vision. It is also now time for our global partners to work even more closely with us to accelerate the pace of South Asian regional integration.
Author is a Senior Fellow at the Centre for Policy Research. He is also the former Director of ICRIER and former Secretary General of FICCI.
Dear Mr. SagarI am forwarding my article “Modi Can Revive Ties With Nepal” that has appeared in the newspaper “The Mail Today” on 27th June (Friday).
Your comments and suggestions are always appreciated.
With Best Regards,
Jamie, Middle East rail 2015
TOKYO, 1 JULY – AirAsia today announced that it will be entering into a Shareholders Agreement with Octave Japan Infrastructure Fund I GK (Octave), Rakuten Inc. (Rakuten), Noevir Holdings Co. Ltd. (Noevir), and Alpen Co. Ltd. (Alpen) to establish AirAsia Japan.
Tony Fernandes, Group Chief Executive Officer of AirAsia said, “We are very excited to return to Japan’s skies together with Octave, Rakuten, Noevir and Alpen this time round. I am more confident than ever that AirAsia Japan, led by Odi (Odagiri Yoshinori) with the strong partnership we have with our new investors, will continue to realize our vision to revolutionize the low-cost carrier segment of Japan. The AirAsia Japan team is now working hard with the relevant authorities to obtain necessary operational approvals, and we hope that all will be in place to start both domestic and international flights by the summer of 2015.”
Odagiri Yoshinori, Chief Executive Officer of AirAsia Japan further commented, “We are ready to take on this challenge and with great teamwork, we hope to bring AirAsia’s successful low-cost business model once again to Japan. Our counterparts in Malaysia, Thailand, Indonesia, the Philippines and India have seen great and encouraging responses in their markets, and we will work towards the same for Japan. We would like to thank the investors for their belief in us and we look forward to working closely with them moving forward.”
Rakuten was incorporated in Japan on February 1997 and its major business includes Internet services (e-commerce, travel), financial services (bank, credit card, securities. etc), telecommunications and professional sports, while Noevir, which was incorporated in Japan on March 2011 and its major business includes cosmetics, pharmaceuticals and health food, apparel and aviation business.
Alpen was incorporated in Japan on July 1972 and its major business includes manufacturing and retail of ski equipment, other sporting goods equipment including golf, tennis, marine sports, baseball, etc. and leisure goods; management of ski resorts, golf courses and fitness clubs; while Octave was incorporated in Japan on May 2014 and its major business is to acquire, own, manage, hold, sell, and dispose of the shares of AirAsia Japan and make collections from the shares of AirAsia Japan.