No plan to stop construction work on Narmada dam, says PM
New Delhi: An all-party delegation from Gujarat, including Congress and BJP MPs, met the prime minister on Sunday, urging him to continue construction work on the Narmada Dam. The PMO later said that no decision had been taken to suspend construction work at the project.

The MPs later told reporters that Dr Manmohan Singh gave the assurance that the construction of the dam would not be stopped, in the larger interest of the people of the State.

The media advisor to the prime minister, Dr Sanjaya Baru, said that the PM heard the MPs and was deeply concerned about the rehabilitation and resettlement of the affected families. "The Prime Minister told the delegation that as long as the rehabilitation process was in progress, there was no question of stopping the construction of the dam," he said.

The Review Committee of the Narmada Control Authority was unable to arrive at a consensus with Gujarat, Madhya Pradesh and Rajasthan on the Sardar Sarovar Dam (Narmada Dam) impasse on Saturday.

A statement issued by the Union Water Resources Minister and Chairman of the NCA, Mr Saifuddin Soz, had said, "It is open to the Supreme Court to consider whether construction of the Sardar Sarovar Dam should be temporarily suspended till such time as rehabilitation and resettlement of the project-affected families is done in consonance with its directions.
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Ficci delegation signs MoUs with Chinese provincial Govts.
Beijing: The Federation of Indian Chambers of Commerce & Industry (Ficci) has entered into MoUs with seven Chinese provincial governments with a view to enhancing the CEO-level interaction between the Indian industry and the Chinese private sector, according to Ficci secretary-general Amit Mitra, who is currently leading a CEO-level delegation to China.

According to Mitra, the MOUs would aim at establishing a "second-track diplomatic environment" which would raise the level of Sino-Indian economic ties. Mitra said the aim was not only to explore joint investment opportunities between the private corporations of the two countries for third country markets but also to enhance India-China trade from $15 billion at present to $50 billion in the next few years.

"China is poised to become India's largest trading partner soon. India-China trade would overtake US-India trade ($27 billion at present) sooner than anticipated," he said. The areas identified for special thrust in this collaborative model are energy, chemicals and minerals.

Members of China's apex industry body China Council for Promotion of International Trade (CCPIT) are keen on setting up joint ventures overseas for their global forays. Such third country JVs would represent a significant milestone for effective use of the strengths of the two economies for mutual gains.
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Gold to touch Rs.10,000 per 10 grams: Assocham study
New Delhi: Rising gold prices are expected to touch Rs10,000 ($220) per 10 grams in view of the unrelenting demand for the metal over a weakening US dollar, according to an Assocham study, released Sunday.

The study, "Yellow metal: Its future pricing trends", prepared by the Assocham, pointed out that the dollar has already lost its lustre by 40 per cent against the euro since 2001.
"The trend has become so pronounced and visible that investors prefer to accumulate gold rather than dollar," the study said.

Releasing the paper, Assocham president Anil K. Agarwal said: "The chamber estimates that the gold prices by October are likely to reach within the range of Rs10,000 per 10 grams and would even exceed Rs.13,000 per 10 grams subsequently."

On Friday, standard gold was quoted at Rs.8,830 for 10 grams in the Indian bullion market.

The study echoed the findings of the London-based global metals consultancy GFMS Ltd, which in its latest report earlier this week forecast possibilities of gold scaling from the present level of over $600 per ounce to above the all time high levels of $850 witnessed in 1980.
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Tea Board turns to GIS mapping for surveillance
Kolkata: The Tea Board has decided to conduct geographical information system (GIS) mapping of all tea gardens at periodic intervals to monitor the progress of rejuvenation and replantation work under a Special Purpose Tea Fund programme.

The decision to start surveillance of gardens was taken to monitor a replantation and rejuvenation programme to begin shortly with 30 per cent government subsidy, Tea Board chairman Basudeb Banerjee said here on Sunday.

Banerjee said at a review meeting over the past week that it had been decided that a Rs4,700-crore fund would be formed with a 30% government subsidy, 50% loans from lending institutions and 20% contribution by the tea growing companies. The task of carrying out GIS mapping, he said, would be handed over to a Hyderabad-based government agency.

The special fund had been created for carrying out rejuvenation and replantation activity in age-old tea gardens over a period of 15 years.
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IMT launches campus in Dubai Knowledge Village
Dubai: The Institute of Management Technology (IMT), one of India's leading management schools, has launched its campus at the Dubai Knowledge Village (KV).

IMT is the sixteenth higher-education institution to join KV.

IMT was established in 1980. IMT Dubai's first session will commence from September 2006. It will offer three courses: Full time MBA (Duration 2 years); Full time Executive MBA (Duration 1 year); and Part-time Executive MBA (Duration 18 months).

Admission will be based on GMAT/CAT scores or a test conducted by IMT and a group discussion, interview and academic records.
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