The Mint Report for 4 September 2009

The Mint Report for 4 September 2009
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First Published: Sat, Sep 05 2009. 12 35 AM IST
Updated: Sat, Sep 05 2009. 12 35 AM IST
New Delhi: The trade talks being held in Delhi between officials from 35 countries ended on Friday with Indian commerce minister Anand Sharma saying they had managed to break the deadlock in trade negotiations. Sharma also said there was now a strong consensus on completing the Doha round. Negotiations are now set to continue in Geneva from September. But the official release from the meet also admitted that many differences remained between the developed and developing world, including the key issues of access to each other’s markets.
NTPC has softened its stance towards RIL. It has agreed to buy gas from RIL at the government price for power plants other than the two plants at Kawas and Gandhar, whose expansion plans, are part of a gas supply dispute. NTPC and RIL have been fighting a legal battle over a contract that NTPC says requires RIL to supply gas the gas at $2.34 per thermal unit for the expansion at the NTPC two plants. But RIL denies the validity of the contract and says it can only sell gas to NTPC at the government price of $4.20 per unit.
Former BJP leader Jaswant Singh hinted he was considering writing a memoir about his 30 years in the party. Singh was expelled from the BJP over a book he wrote that praised the founder of Pakistan Mohammed Ali Jinnah.
With the death toll from swine flu rising, some people are experimenting with alternate, unproven remedies including Ayurveda that they hope will ward of the disease. At least100 people have died from swine flu in India since the first fatality in beginning of August. The health ministry has said that people with severe flu-like symptoms should go to government-designated hospitals for treatment, but that healthy citizens can use traditional medicines to improve their immunity.
BHEL is expecting to close orders worth about Rs12,225 crore within the next six weeks. The government-run company plans to get about Rs55,000 crore worth of orders by the end of the fiscal year. BHEL makes turbines, boilers and generators for the power generation industry and currently has orders worth about Rs130,000 crore.
An international team of researchers has discovered two powerful antibodies to HIV, which could be leads in finding a vaccine against AIDS. Writing in the magazine Science, they say the antibodies are the first of their kind to be discovered in a decade.
IndusInd Bank has got a breather from the Reserve Bank. The RBI has extended the deadline for reducing its promoters’ stake to December of 2012. IndusInd was supposed to reduce the shareholding of its promoters, the Hindujas, from its current 25.63% to 10% by March of 2010.
Markets shot up on Friday after four straight days of decline. The Sensex surged 291 points to end trade at 15,689 and the Nifty went up 87 points to close at 4,680.
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First Published: Sat, Sep 05 2009. 12 35 AM IST
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