Business & Partnership

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India's diversifying ties with Saudi Arabia: Need to integrate economic and security interests

Indian energy diplomacy has long been plagued by a belated undertaking of due diligence back home before the concluding of agreements with foreign countries. The fact that the massive Saudi investment in Ratnagiri, Maharashtra is now caught in the crosshairs of local politics and land acquisition issues, is just one more example of this tendency, writes Dr Cauvery Ganapathy for South Asia Monitor 

More on Economy and Business

FDI in Multi Brand Retail

Notwithstanding strong opposition to foreign direct investment in multi-brand retail, a Citi report today said the entry of global retailers like Walmart will increase competition in India's organised retail sector.In addition, USD 15-20 billion in FDI could flow into the country over the next 10 years as a result of the government's decision to allow foreign direct investment (FDI) in multi-brand retail, the report by the global financial services major said.

Sri Lanka budget 2012 focuses on socio-economic development

Sri Lanka's budget for next year will focus on the long-term socio-economic development of the country, especially in the areas of health, education and agriculture while reducing the poverty.Sri Lanka President Mahinda Rajapaksa in his capacity as Finance and Planning Minister presented the next year's budget today to the parliament. This is the 7th budget presented by the President.President Rajapaksa stated that 2012 will record an economic growth of 8%. By maintaining this, the goal of reaching a per-capita income of US$ 4000 will be realized by 2016.

A trade link in South Asia

India and Pakistan granted each other MFN status when they joined the General Agreement on Tariffs and Trade (GATT) in 1948. This framework governed their economic relations until 1965, despite bloody battles over partition and other issues.When the World Trade Organization was launched in 1995, India re-extended MFN to Pakistan. Islamabad did not reciprocate as opponents argued that MFN status should be used for leverage in negotiations over the disputed territory of Kashmir.Most significantly, deeper trade relations can help tie the two countries more closely together and convince them that tearing down barriers rather than sheltering behind national borders is the best way to secure peace and prosperity in South Asia.

 

Bangladesh doing well among LDCs

Bangladesh has done better than many other least developed countries (LDCs) in terms of overall development scenario, particularly in economic vulnerability category, according to LDC Report 2011 released  by Unctad.However, with the better performance in reducing economic vulnerability, Bangladesh requires to increase per capita gross national income (GNI) and improve human assets index further to obtain the status of a developing country.

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