June 21: The day in pictures
June 21: The day in pictures
File photo of villagers and their children at the proposed site of a $12 billion steel plant by South Korea's Posco during a protest in Orissa
Local protests have forced the Orissa government to halt acquiring land for a proposed $12 billion steel plant to be built by South Korea's Posco, further delaying the biggest foreign direct investment in India.
The project by Posco, the world's third-biggest steel company, is the most high-profile of numerous industrial plans delayed because of protests over land, which analysts warn could hurt economic growth and worsen a current account deficit.
"It has been halted indefinitely...it is because of the so-called protests," said SK Chaudhuri, the top official in the district where the land is being acquired in Orissa.
"We are waiting for further instructions from the [state] government," he told Reuters.
A camera used for Google street view is pictured at the CeBIT computer fair in Hanover
Google Inc has been ordered by police to suspend its "Street View" service in the IT hub of Bangalore, the company said on Tuesday, in the latest setback to its global mapping project that has been hit by privacy fears.
The technology giant has sent a fleet of cars around the globe to capture millions of images used with maps as part of its panoramic Street View service, but faces regulatory challenges from authorities across the world on data protection concerns.
"We received a letter from the commissioner of police regarding Street View. We are currently reviewing it and have stopped our cars until we have a chance to answer any questions or concerns the police have," Google said in a statement.
The commissioner of police declined to elaborate on the reasons for the letter when contacted by Reuters.
Finance Minister Pranab Mukherjee is seen in New Delhi
Pranab Mukherjee said on Tuesday India has resumed talks with Mauritius on a double taxation avoidance agreement.
"So far as the Mauritius double taxation avoidance agreement negotiations are concerned, it is an old one. For some time the talks were suspended now it has resumed," Mukherjee said.
The Indian government has been under pressure from opposition parties to renegotiate a treaty blamed for huge revenue losses, as Indian investors ship their money to Mauritius and then funnel it back untaxed.
Indian officials have said the country was losing more than $600 million every year in revenue because of the tax treaty, besides incurring the risk of militant groups using it to route money into India.
A page from the Facebook website is seen in Singapore
Facebook's US advertising revenue will total roughly $2.2 billion in 2011, displacing Yahoo Inc to collect the biggest slice of online display advertising dollars, according to a new study.
Facebook's US advertising revenue will give it a 17.7% share of the market for graphical display ads that appear on websites, according to a report released on Monday by research firm eMarketer.
Last year Facebook had 12.2% share of the US market.
The figures underscore the growing clout of Facebook, the world's largest Internet social network. It has seen its valuation soar to roughly $80 billion in recent transactions for its shares on the private markets and some investors anticipate it could have an initial public offering next year.
Passengers are silhouetted against the backdrop of an IndiGo aircraft standing on tarmac at the airport in New Delhi
Budget carrier IndiGo could confirm an historic $16 billion order for 180 Airbus aircraft at the Paris Air Show on Wednesday, industry sources said.
The deal was provisionally announced in January but has been mired in further negotiations before it could be signed and go into the Airbus order book in a boost for parent EADS.
The deal is seen as the largest commercial jet order by number of aircraft but could be eclipsed by a roughly 200-plane order expected from AirAsia on Thursday.
Airbus declined to comment.
Asian airlines are leading a rebound in commercial aviation demand to feed a multi-speed economic recovery marked by strong growth in emerging markets.
Airbus says emerging markets will make up 70% of global air travel by 2030.
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