World News

In the first high-level visit to India by an Iranian official in the second tenure of the UPA government, and also the first after re-election of President Mahmoud Ahmadinejad, both sides had discussions on a range of bilateral and regional issues including energy security, trade, Iran's nuclear ambitions and enhanced collaboration in science and technology.

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Unlike India, China is yet to take a call on the timing of exit strategies from the easy monetary policy through which it has infused $580 billion of liquidity support to revive its economy.

India along with other emerging BRIC markets such as China and Brazil are expected to lead the recovery in the global IPO markets by the end of 2009, a survey by global consultancy firm Ernst & Young says.

Despite signs of an economic revival gathering pace around the globe, the millions of people laid off during the worst recession in 70 years are unlikely to see relief any time soon as joblessness is still climbing in many of the world's largest economies.

Taking forward their economic ties, India and Saudi Arabia have agreed to grant long-term, multiple entry visas to businesspersons to facilitate their frequent visits and decided to strengthen cooperation in fields like customs, science and technology and oil, gas and minerals.

Reiterating his appeal for a dialogue on Kashmir, Prime Minister Manmohan Singh on Thursday said, "I made an appeal for dialogue yesterday and I hope it will be reciprocated in the spirit in which it was made.

For the first time Bangalore has been chosen as the venue for the first meeting outside New Delhi of the Foreign Ministers of India, Russia and China.

Russia that boasted of being the quiet haven and claimed in the beginning of 2008 that its economy would not be affected by global financial crisis soon found itself among the worst hit countries of the world.

India will soon sign a framework agreement on trade and investments with United States, its second biggest export destination.

Commerce minister Anand Sharma and United States Trade Representative (USTR) Ron Kirk will meet for the fourth time in the past five months in New Delhi on Monday to discuss measures to strengthen trade and investment ties between the two countries.

Chinese Premier Wen Jiabao assured Prime Minister Manmohan Singh that his country would correct the balance of trade that is currently in its favour.

Devising strategy for countering and coping with the global financial meltdown will be the high point of the India-Asean FTA meeting in Thailand from October 23. N Ravi, secretary (east) ministry of external affairs said , "enhancing connectivity, and empowering people, and the current global financial situation will be the theme of this year's summit.

Nearly two months after India inked the Free Trade Agreement (FTA) with the Association of South East Asian nations (Asean), a joint panel comprising government officials and trade experts of India and Indonesia have recommended a similar trade deal between the two sides.

Even though the renegotiated contract for the $2-billion Russian carrier Admiral Gorshokov remained unresolved in the course of the defence minister's visit to Russia, the government says Indo-Russia defence ties are evolving from buyer-seller ones to a more broad based partnership.

The US Food and Drug Administration, the powerful medical regulatory authority in the world, on Tuesday warned Glenmark Generics Inc, subsidiary of Glenmark Pharma, that they must stop marketing unapproved Codeine Sulfate tablets in the US market.

Extension of defence cooperation agreement by 10 more years tops the agenda of defence minister AK Antony's visit to Russia next week.

Although overshadowed by the financial crisis and the world recession right now, the debate over offshoring seems poised to stage a comeback as a public policy concern in the not-too-distant future.

In a move to make further inroads into Middle East and to step up their military cooperation, India will soon have joint military exercises with the Oman Air Force, later this month.