India and China to discuss Free Trade Agreement
Beijing: India and China will discuss the possibility of signing a Free Trade Agreement at their meeting in New Delhi today. At their first meeting on March 22, the Sino-Indian Joint Study Group (JSG) on Trade and Economic Cooperation had initiated measures to discuss the possibility of signing a Free Trade Agreement (FTA) and Comprehensive Economic Cooperation Agreement (CECA).

At the second meeting, both sides are expected to carry forward the discussions they had in Beijing. The JSG will also draw up a programme for the development of trade and economic ties for the next five years. In 2003, Sino-Indian trade turnover hit $7.6 billion, recording a growth of 53.6 per cent. This year, it is expected that the total trade figure will cross the $10 billion for the first time. As per Chinese customs statistics, overall trade volume in January-May 2004 has already touched $5.45 billion, up 87.91 per cent over the same period last year. Indian exports to China amounted to $3.58 billion, up 112.6 per cent while imports stood at $1.87 billion, up 53.72 per cent over the same period last year.
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Orders worth $10.6 billion for Airbus
Farnborough, UK: Airbus has announced commitments for 84 aircraft including options worth around 10.6 billion dollars during the recent Farnborough airshow. Etihad Airways' commitment for 24 Airbus A330s, A340s and A380s plus a further 12 options worth a total of seven billion dollars was the largest part of this business. This was followed by a deal with Turkish Airlines for 36 Airbus family aircraft (31 single-aisles plus five A330-200s) and one for four A320s and eight options from new Indian carrier Kingfisher Airlines. Airbus is a leading aircraft manufacturer and has delivered more than 3,500 aircraft to some 260 customers and operators worldwide.
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Bylines change at USA's longest running column
Washington, USA: "Washington Merry-Go-Round" by Jack Anderson and Douglas Cohn, the nation's longest running newspaper column, is changing bylines. The column, founded by Drew Pearson in 1932, was carried on by Jack Anderson, who joined Pearson in 1947, and then by Douglas Cohn, who joined Anderson in 1999. Anderson, 81, who is suffering from Parkinson's disease, has retired from the column, and is being replaced by Eleanor Clift, who has served as "Washington Merry-Go-Round's" political correspondent for several years. Cohn and Clift, who have been writing the column for the last five years, are two of Washington's most noted journalists.

Cohn is a 1968 graduate of West Point, who was retired for wounds received while serving as an infantry platoon leader in Vietnam. He has been working with Anderson for the last 18 years and was his partner for the last five years. Clift, a regular on TV's "The McLaughlin Group", is a contributing editor for "Newsweek", where she previously served as the magazine's White House correspondent. Cohn and Clift will continue their hard-hitting analytical column that has gained a reputation for insight, historical analogy, and interesting twists overlooked by other writers such as their exposure of the stock market's burgeoning short-selling scandal.
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Morgan Stanley establishes Metalmark Capital
New York, USA: Morgan Stanley has announced that it has signed a definitive agreement with a team of investment professionals from Morgan Stanley Capital Partners to finalize the establishment of an independent private equity firm. The new firm will be called "Metalmark Capital LLC" and will be based in midtown Manhattan. Howard I. Hoffen, an 18-year private equity veteran and Morgan Stanley managing director, will head metalmark Capital. Hoffen and senior investment team members from Capital Partners, who have worked together for 12 years, will be owners of Metalmark Capital.

Metalmark Capital will manage, through a long-term sub advisory role, the Morgan Stanley Capital Partners funds, comprising over $3 billion of private equity investments. Morgan Stanley will continue as general partner for the Capital Partners funds and retain its limited partner interests. The sub advisory relationship is expected to become effective by early September. Morgan Stanley is a global financial services firm and a market leader in securities, investment management and credit services.
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