document.writeln("

MoU signed for US$64mn Pan-African network project
New Delhi: India has signed a memorandum of understanding (MoU) with the African Union to take up a project to digitally inter-connect all the 53 countries of the continent.

The Pan-African Network Project (PANP), initiated by the President, A.P.J. Abdul Kalam, will be undertaken at a cost of US$63.7mn and entails setting up of the infrastructure, operating it and training manpower of the respective countries over a period of five years.

The MoU was signed by the minister of state for external affairs, Rao Inderjit Singh, and the AU commissioner for infrastructure, Bernard Zoba.

The project will put in place a communications network that will provide latest facilities and connectivity to all Heads of State or Government in the African Union.

Various Indian institutes such as Telecommunication Consultants India Ltd, Indian Space Research Organisation, All India Institute of Medical Sciences and Indira Gandhi National Open University will be the partners in the project.

The pilot project would be initiated in Ethiopia.
Back to News Review index page  

Second Indian Institute of Foreign Trade to come up in Kolkata
Kolkata: The Centre will set up the second Indian Institute of Foreign Trade in Kolkata. The institute will begin functioning from the next academic year.

The Union minister for commerce and industry, Kamal Nath said: "We have already spoken to the chief minister who has promised to extend his support."

The institute, the second after Delhi, will come up on a seven-acre plot. Classes will be held in a rented building till the new campus is completed. About Rs10 crore has been allocated to the project.
Back to News Review index page  

Australian State, Victoria, opens trade office at Bangalore
Bangalore: Victoria, the south-eastern province of Australia, on Friday opened its first trade office in India here by way of consolidating its growing economic ties.

The trade office will also to offer it's high-end of technology in food processing packaging and mining technology.

The office was inaugurated by the Victorian minister for information and communication technology (ICT), Ms Marsha Thomson.

The trade office is the eleventh international establishment set up by the State, whose contribution accounts for 25 per cent of Australia's GDP.

The trade office would focus mainly on promoting two-way business promotion, said Ms Thomson adding that choosing Bangalore as the venue would help in consolidating the two States' synergies in the information technology and aerospace for expanding the business prospects between the two countries.
Back to News Review index page  

Govt. to shift thermal generation strategy towards mega thermal stations
New Delhi: The ministry of Power has decided to shift its thermal generation strategy in favour of setting up mega thermal stations of around 3,000 to 4,000 MW capacity, either along the coastline or at pithead sites for supplying power to more than one State.

Following a review meeting here on generation capacity addition chaired by the Power minister, P.M. Sayeed, the ministry has directed the Central Electricity Authority (CEA) to identify coastal and pithead sites for setting up these mega thermal stations.

The CEA has been asked to complete the exercise over the next three months.

"The availability of fuel for thermal projects is becoming a major constraining factor in the development of new projects. The move in favour of setting up large inter-State stations, either near the coastline if imported fuel is to be used or at pit-head sites in case domestic coal is the fuel, will help leverage economies of scale and prevent a large-scale fuel crisis in the future," a Power ministry official said.

The Ministry has drawn up a programme for capacity addition to the tune of 11,500 MW by ten private power projects, which are being monitored by an inter-institutional group.
Back to News Review index page  

Inflation up at 4.71 per cent
New Delhi: The annual wholesale price index-based inflation went up 4.71 per cent on a yearly basis during the week ending October 15, higher than the previous week's 4.62 per cent. The rise in the year-on-year inflation was largely due to an increase in food, manufactured products and mineral prices, according to data released by the Ministry of Commerce and Industry here on Friday.

During the latest reported week, the Wholesale Price Index (WPI) inched up to 197.7 points as primary articles became costlier by one per cent and manufactured products by 0.1 per cent, though fuel prices remained unchanged. Inflation had registered a 7.21 per cent increase during the corresponding week last year.

On a disaggregated basis, the primary articles group index increased to 196.9 points as minerals became costlier by 22.7 per cent, food items by 0.3 per cent and non-food items by 0.1 per cent. The Fuel, Power, Light and Lubricant group index stood firm at previous week's level of 315 points, but was higher than 282 points last year.

The Manufactured Products group index rose marginally to 171.8 points due to costlier IMF spirit, textiles, non-metallic minerals, base metals and alloys and machine tools, although food products and chemicals became cheaper.
Back to News Review index page