BrahMos missile completes development phase trials
Hyderabad: The Naval version of the supersonic cruise missile, BrahMos, was successfully tested for the eighth time in a row from the Interim Test Range (ITR), Balasore.

The anti-ship version of the BrahMos missile, launched from a Naval warship, hit the target - a decommissioned ship - setting it on fire. According to the scientists the major achievements of the tests were the mid-course manoeuvrability of the missile and the advanced fire control systems, which all functioned at 100 per cent levels.

With today's test the development phase of the naval version of the missile, to be launched from a ship platform, has been completed and all the requirements needed to prove its capability for the user demonstrated. The high manoeuvrability demonstrated in this test now effectively dispels a myth in the missile community, that supersonic missiles cannot be manoeuvred. In war scenarios such versatility is required and gives tactical advantage to the user.

BrahMos, an Indo-Russian missile consortium, with research institutes and industry participating from both countries, has already begun the production of this 290-km range anti-ship missile and the induction would start on schedule in 2005.

The next phase of trials for the BrahMos missile would be aimed at land targets, from ship platforms and for a surface-to-surface version, which would be taken up soon.
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Job guarantee bill likely in winter session
New Delhi: The UPA Government, in keeping with its National Common Minimum Programme (NCMP), is likely to introduce a Bill in Parliament for enacting the Employment Guarantee Act (EGA) during the forthcoming winter session.

The EGA will provide a legal guarantee for at least 100 days of employment on asset creating public works programmes each year at minimum wages for at least one able-bodied person in each rural, urban poor and lower middle-class household.
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Nigeria invites Indian investment
New Delhi: The President of Nigeria, Olusegun Obasanjo, has said that his Government is redefining the role of governance in Nigeria and has invited Indian investment on a larger scale in several sectors where the business is booming.

Addressing a meeting organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) here on Wednesday, he said the aim of the ongoing reform is to maximise investor confidence and pointed out that almost 60 per cent of the GDP of West Africa originates from Nigeria.

With a population of about 130 million and considerable revenue from oil exports, Nigeria is the largest trading partner of India in Africa. Bilateral annual trade turnover exceeds $3 billion. Earlier, Nigeria occupied the fifth place so far as India's exports to African countries was concerned (after South Africa, Mauritius, Egypt and Kenya). However, Nigeria has now moved to the first place.

Indian companies have sizeable investments in textiles, chemicals, electrical equipment, pharmaceuticals, plastics, and fishing to name a few sectors. India has assisted Nigeria through transfer of technology, machinery and expertise in the form of joint ventures and consultancy services. Nigeria also imports more Indian pharmaceuticals than any other country in the African continent.
India's import of crude oil from Nigeria remains substantial, as Nigeria is one of the few producers of the sweet varieties required by Indian refineries.
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Formation of board for PSEs' revamp cleared
New Delhi: The Government has approved the constitution of a Board for Reconstruction of Public Sector Enterprises (PSEs), which will advise on ways and means to revive such sick units.

Finance Minister P. Chidambaram has said that the seven-member board would have a non-official member as Chairman. It will comprise three non-official members and three Secretaries of the Government of India, he added. The intention of the board will be to consider reconstruction and revival proposals of sick PSEs, Chidambaram said.

It will also monitor incipient sickness in Central PSEs and advise the Government on other matters be assigned to it from time to time.
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