S Africa keen on defence JV
New Delhi: South Africa has offered to develop a joint partnership with India in manufacturing and marketing artillery and integrated ballistic systems.

South African minister for public enterprises Jeff Radebe told a press conference here that Denel, the largest defence manufacturer in South Africa, will assist in the establishment of a comprehensive capability for artillery manufacture in India.

South Africa also suggested holding of joint naval exercises with India and work on making Indian Ocean a zone of peace.

South Africa is also ready to offer India unmanned aerial vehicles, early warning systems and anti-mine armoured vehicles, which are currently in use in counter-insurgency operations in Jammu & Kashmir.
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PMO okays 26 pc FDI in magazines
New Delhi: The government proposes to permit 26 per cent foreign direct investment (FDI) in the print media for periodicals including weeklies, fortnightlies and monthlies, ending a moratorium imposed 47 years ago on FDI in print media in1955.

However, the restriction on FDI is likely to remain for dailies in the print media.

The Prime Minister's Office (PMO) is understood to have given an in principle clearance for foreign direct investment with minority holding for periodicals.

The ministry of information and broadcasting has been asked to prepare a detailed note on the subject which will be placed before the cabinet committee on economic affairs for a final decision.

The Government is also considering to allow 100 per cent FDI in the advertising sector, in place of the current 74 per cent. 
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NTPC not interested in DPC
New Delhi: National Thermal Power Corporation (NTPC) has rejected Maharashtra government's proposal to bid for Dabhol Power Project (DPC) saying a take-over would seriously burden its resources.

On the overall consideration, it is found that the taking over of DPC will not be in the commercial interest of the organisation, NTPC said in a statement here.

In view of the above, NTPC has decided not to submit its expression of interest and not take part in the subsequent due diligence and bidding exercise, it added.
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