February 15: News in Images
February 15: News in Images
Cairn India employees work at a storage facility for crude oil at Mangala oil field at Barmer in Rajasthan
Miner Vedanta Resources' planned deal worth up to $9.6 billion for control of Cairn India, already slowed by disagreement over royalties, will be decided by India's cabinet, which could delay it further.
Oil Minister S Jaipal Reddy said on Tuesday the views of the finance, law and corporate affairs ministries would be sought before the deal for the oil producer goes to the cabinet.
Previously, the deal for up to 51% in Cairn India was expected to be approved by the oil ministry, but if changes to contracts are contemplated, it must be approved by cabinet.
'It is too big for one ministry to decide on it,' Reddy told reporters in Haryana. 'We are expediting the process. It may go to the cabinet in two-three weeks.'
Cairn agreed in August to sell a controlling stake in Cairn India to Vedanta, setting
A woman selects a turnip at a morning market in central Beijing
Chinese inflation hit a lower-than-forecast 4.9% in January, but price pressures excluding food were their strongest in at least a decade and will force the central bank to keep tightening monetary policy.
In a tentative sign that its actions so far, including higher interest rates and lending restrictions, have started to bite, money growth eased to its slowest pace in six months in January at 17.2% y-o-y.
'The money supply and lending data suggest that government efforts to clamp down on liquidity might be taking hold, though broad-based inflation provides no leeway for the central bank to relax its tightening stance,' said Connie Tse, economist at Forecast PTE in Singapore.
Analysts in a Reuters poll had forecast January's inflation at 5.3%, up from 4.6% in December. Contrary to expectations, a change in how the consumer price index is calculated added to th
European Union flags are seen outside the European Commission headquarters in Brussels
Transparency campaigners have hauled the European Union's executive to court for withholding documents about free trade talks with India, intensifying pressure on the bloc to make its policy-making less secretive.
The lawsuit, lodged with the EU's second-highest court on Tuesday, accuses the EU Commission of breaking transparency and democracy rules by refusing to disclose to campaigners details of plans shared with EU industry on how to open Indian markets.
'Industry lobbies enjoy massively privileged access and influence in trade negotiations, even when there are concerns from other quarters that this is threatening Indian labour rights and access to medicines,' said Pia Eberhardt, campaigner for Corporate Europe Observatory, which lodged the complaint.
Campaigners are focusing on India because the EU is expected to complete a free t
The New York Stock Exchange
Deutsche Boerse and NYSE Euronext announced the creation of the world's largest exchange operator on Tuesday, dodging political issues that could threaten completion of a deal.
A key compromise is an agreement to headquarter the combined group in both New York and Frankfurt. 60% of the group will be owned by Deutsche Boerse shareholders and the remainder by NYSE investors. However there was no name given to the propsed group.
The new company will have a single tier board, with 10 seats out of 17 going to Deutsche Boerse but with NYSE Euronext taking the all-important chief executive post.
Under the terms of the deal NYSE Euronext stock will be exchanged for 0.47 shares in the new company, while Deutsche Boerse shares will be swapped on a one-for-one basis, the exchanges said in a statement on Tuesday.
As previously trailed, NYSE head Duncan Niederauer will be chief executive and Reto Francioni
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