The Joint Statement issued after Modi-Abe meeting, clarified that the final document sealing the nuclear deal will take some time to emerge, when a certain finalization of technical details are done with. India will be able to access a new generation of nuclear reactors, over 1000 MW and hi-tech safety features, with the Indo-Japanese nuclear agreement.
The Anil Ambni-owned Reliance Entertainment and acclaimed Hollywood director Steven Spielberg’s DreamWorks announced formation of Amblin Partners, a new film, television and digital content creation company, so as to enthrall the global audiences further. The new company will create content using the Amblin, DreamWorks Pictures and Participant brands and will aim to produce around four to seven movies a year apart from digital and television content, and has an available funding of $1 billion.
Indian home services provider Housejoy has raised Rs 150 crore from a consortium of investors led by US ecommerce major Amazon. Housejoy, provides door to door maintenance, repairing, home care and personal care services including plumbing, house cleaning and fitness training, and was launched by Arjun Kumar and Sunil Goel. Housejoy, which has a network of 10,000 service providers fulfilling 4,000 requests per day plans to ramp it up to 50,000 service providers doing 100,000 jobs per day in 18-24 months.
Maruti Suzuki India (MSI) said that the company’s minority shareholders have given a go-ahead for the proposal to let Japanese parent Suzuki Motor Corporation develop and invest in its upcoming manufacturing plant in Gujarat.
The government on Thursday approved the Rs 39,000-crore acquisition of five advanced Russian S-400 Triumf air defence missile systems, which can destroy incoming hostile aircraft, stealth fighters, missiles and drones at ranges of up to 400 km.
India will contribute $500,000 to a UN rapid response funding mechanism for the 2015-16 to support global humanitarian relief operations. Hence, building a better world with the resources available.
Crude prices extended losses in Asia on Thursday after another report showing a further increase in US stockpiles added to fears about a global glut, while the dollar strengthened after the Federal Reserve hiked interest rates. The commodity suffered fresh selling pressure on Wednesday after a report from the US Department of Energy showed that crude supplies rose 4.8 million barrels in the week ending December 11.
Banks have turned active in giving out home loans for as long as 30 years for the first time since credit crisis days as they attempt to revive demand in high-end home purchases which has come to a grinding halt in the top six cities. Two largest mortgage lenders, State Bank of India and Housing Development Finance Co. are leading the push. These long duration loans, above 20 years, are being given to properties valued at more than Rs 1 crore, and for salaried people in the age group of 25-30 who are at the early stages of careers.
Global internet search engine giant Google will train two million new Android developers in the next three years, its chief executive Sundar Pichai said, which he mentioned during his 3 day visit to India. India, which already has more Internet users than the US, is the second-biggest market for Google for search queries. On Wednesday, it announced a raft of initiatives in India including a plan to provide free WiFi in 100 stations, train 2 million Android developers, equip women in rural India through a fleet of Internet- enabled bikes and build a new campus in Hyderabad.
The U.S. Congress has imposed a special fee of up to USD 4,500 on the H1B and L1 visas popular, among Indian IT companies to fund a 9/11 healthcare act and biometric tracking system. The money generated, expected to be more than a billion USD per annum, would be used to fund a biometric entry and exit tracking system, in addition to funding health screenings and treatments for 9/11 first responders. According to the agreed bill, the new USD 4,000 fee would apply to companies having at least 50 employees with 50 per cent of their employees on H-1B or L-1 visa.
Asian stocks gained early the last week, with encouraging lifting as Wall Street rose before a likely hike in US interest rates, while the dollar held to large gains made as Treasury yields picked up. The Federal Reserve is expected to announce a hike in interest rates. It would be the first US rate hike in nearly a decade, signalling the beginning of an end to an expansionary monetary policy that has supplied a tidal wave of liquidity to risk asset markets globally.
In a strong step to control pollution in the Capital city, Mr. Kejriwal initiated a plan of even-odd rule, much to the depreciation of many, as it sounds chaotic in it’s essence. However, encouraging the plan, Supreme Court on Wednesday imposed a ban on the registration of diesel-run private cars of the capacity of 2000 CC and above and SUVs, which might lead to certain challenges, to be faced by the manufacturers.
The Obama administration announced on Wednesday a $1.83 billion arms sale to Taiwan, the first offered by the US to the self-governing island in four years. If finalized, they would send high-profile defense items such as warships and surface-to-air missiles to help bolster the small island nation’s military. In addition to the lethal hardware, the sale also includes a number of data-link systems that will allow for intelligence sharing among Taiwanese forces. The Chinese government, which has long known about the sale since it was approved more than a year ago, has consistently voiced concerns about Taiwan’s purchase of U.S. arms, stating that it violates international law and harms sovereignty and security interests of China.