$60bn charity giant created by Buffett-Gates merger
Washington: The new age of philanthropy has dawned with Bill Gates presiding over a $60-billion charity machine, that is likely to dwarf world aid bodies and even governments.

Investment wizard Warren Buffett's $31-billion donation to the Bill and Melinda Gates Foundation will double the size of Gates' fund and make it by far the world's largest charitable foundation.

Analysts said Buffett's decision to hand over 85 per cent of his estimated $44 billion wealth, represents the biggest single philanthrophic donation to date.

The size of Gates Foundation can be compared to the United Nations Educational, Scientific and Cultural Organisation (Unesco) biennial budget for 2004-05 of $610-million.

The Bill and Melinda Gates Foundation paid out $1,36-billion in grants on global health, libraries, educational and other initiatives in 2005 alone.
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Congress panel moves ahead on U.S.-India nuclear deal
Washington: A key US committee has taken the first step towards approval by the U.S. Congress of a nuclear cooperation deal with India.

Lawmakers said the deal would promote historic new ties between the two countries.

After months of delay, the House of Representatives International Relations Committee voted 37 to 5 to make changes in U.S. law that would allow the agreement to proceed. The full House will take up the issue next month.

The two versions, once passed by their respective chambers, would have to be reconciled and then subjected to a final vote.

The deal, which will grant India access to U.S. nuclear fuel and reactors for the first time in 30 years, was agreed in principle by President George W. Bush and Indian Prime Minister Manmohan Singh last July 18.

Many non-proliferation experts are concerned the deal would allow India to increase nuclear weapons production, but the committee soundly rejected two amendments seeking to force New Delhi to halt fissile material production.
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