new

Friday, 20 January 2017

West Bengal a good Business Destination

The President of India, Shri Pranab Mukherjee inaugurated the Bengal Global Business Summit 2017 organized by the Government of West Bengal Friday in Kolkata.Speaking on the occasion, the President said India is a conglomeration of states and it's strength rests in cooperative federalism, especially in matters relating to economic development. He said India is today a leading destination for foreign investment. India has clocked a high growth rate, with the economy growing at an average of 7.6 percent annually during the last ten years. This is in spite of the large-scale slowdown after the financial crisis of 2008, which afflicted most economies of the world and led to a slowdown in the major economies. India has a comfortable external situation. It has pursued prudent fiscal management and has adopted investor friendly policies.The President said the Bengal Global Business Summit showcases investment opportunities in West Bengal, which is a leading state of our country. A popular saying is - what Bengal thinks today, India will think tomorrow. The economy of the state suffered on account of the partition of India. However, there has been significant progress in last six years. Growth in State GDP and revenue buoyancy has been impressive. The large participation in the forum, including from 29 countries shows the level of interest in the state amongst investors.
The President complemented the State Government for its focus on infrastructure and adoption of investment friendly policies. He said the State has skilled manpower and a stable political regime which should bring a good response from investors. He called upon the State government to also pay attention to specific problems of investors even as it adopted overall policies to encourage growth and investment.
The President concluded pointing out that Chief Minister Mamata Banerjee and her team organized in the past two successful business summits. He expressed confidence that the summit will bring good results, promoting business linkages and consolidating existing partnerships.

Effect of Trump’s inagural ceremony

Caution prevailed in World financial markets

Caution prevailed in financial marketson Friday ahead of US President-elect Donald Trump's inauguration, even as China's economic growth beat expectations and Federal Reserve Chair Janet Yellen toned down her earlier hawkish policy stance.
In India Benchmark indices continued trading under pressure volatility as investors remained cautious ahead of inauguration speech of Donald Trump as US President and after disappointing Axis Bank's earnings. Broader sentiment was also subdued even after China's fourth-quarter economic growth beat expectations and Federal Reserve Chair Janet Yellen took a less hawkish policy stance.Nifty 50 breached its 8,400 level dragged by Axis Bank, Bank of Baroda, Adani Ports and ACC while BSE Sensex fell as much as 296 points at intra-day.S&P BSE Sensex settled the day at 27,034, down 274 points, while the broader Nifty50 ended at 8,349, down 85 points. Among broader markets, BSE Midcap index fell 1.5% while BSE Smallcap index fell 0.1.2%.
European markets dipped amid trepidation over Trump's first speech as president. Britain's FTSE 100 was trading 0.15% lower, while Germany's DAX and France's CAC 40 were trading in green. MSCI's broadest index of Asia-Pacific shares outside Japan retreated 0.2%, and looked set to end the week flat.Japan's Nikkei reversed earlier losses to close 0.3% higher, posting a 1.1% weekly loss.China's fourth-quarter gross domestic product growth came in at 6.8%, versus forecasts of 6.7%, supported by higher government spending and record bank lending.The data helped lift China's CSI 300 index 0.8%, setting it on course for a 1% weekly gain.

2nd big attack of Manmohan singh on Modi Govt

Own second big attack on Modi Government former Prime Minister Manmohan Singh today alleged, targeting the Centre that independent thinking and free expression in Indian universities "are now under threat. The Congress leader said the recent attempts to interfere with free expression of the student community in Hyderabad Central University and JNU were of particular concern and termed suppression of peaceful dissent as "inimical to learning" and 'undemocratic'.   84-year-old Singh said while speaking at the bicentenary celebration of Presidency University at Kolkata. "True nationalism is found where students, citizens, are encouraged to think and speak freely where dissents are encouraged and not suppressed. It is only by constructive engagements ..we can truly build a stronger, more cohesive and sustaining democracy in our country," Singh said and also made a veiled reference to Hyderabad University student Rohit Vemula suicide issue. The former Prime Minister said that political interference in universities and in appointments in academic institutions was highly 'short-sighted'.He said, "We must make very effort to protect the autonomy of our university and to foster the right of our students to express ideas," Mr. Singh said, "We are witnessing around the world a rise of nationalist tendencies, populism and hatred against backward classes and minorities in disregarding reason and rationality .....but these tendencies could be extremely destructive. He emphasised, "We must protect India from this trend and universities have a vital role in this regard." Singh, who wanted to be a teacher but got into politics 'by accident', said, "I believe that every university must give the freedom to pursue knowledge even where the knowledge may be at odds with established intellectual and social traditions. We must guard this freedom very zealously."

Apple put many condition before Modi Govt

Now change in America administration.This is very crucial time for Indian Government. During this time Apple Inc. is willing to start making iPhones in India, but it wants a big helping hand from Narendra Modi’s government first. The Cupertino, California-based company is scheduled to meet with officials in New Delhi next week to discuss the prospects for setting up manufacturing facilities in the country this year. Apple, the most valuable company on Earth, is asking for a long list of financial concessions from India, one of the poorest countries. Among the requests, the company is seeking a 15-year tax holiday on imports of components and equipment, according to a person with direct knowledge of the matter.
"We would like Apple to set up base in India," Ravi Shankar Prasad, minister for information technology said on Wednesday, without disclosing the company’s negotiating stance.
Apple wants to boost business in India as the country of 1.3 billion becomes the fastest-growing smartphone market and sales flatten in the U.S. and China. Chief Executive Officer Tim Cook visited the country for the first time in May as he sought government approval for Apple to open its own stores. India has insisted that Apple, like any single-brand retailer, source 30 percent of its components locally, though the country is relaxing those rules so technology companies can operate stores for three years before meeting that requirement.
Still, Apple wants more. The company has sent a list of requests ahead of its Jan. 25 meeting with officials from several government departments, including Electronics and Commerce, the person said, asking not to be named because the matter is private. Apple is also asking for a waiver on customs duties for new and used equipment brought into India. The Indian Express newspaper reported Apple wants full exemption from duties on raw materials, components and capital equipment. Apple won’t insist on getting everything on its wish list, the person said. Apple didn’t respond to requests for comment. 

Obama appointee tasked with helping run the war against ISIS

According Washington Post,Brett McGurk, an Obama administration appointee tasked with helping coordinate the war against the Islamic State, has been asked to stay in his position after President-elect Donald Trump takes office.McGurk is one of about 50 Obama appointees who will remain in their posts at the Pentagon and across the federal government to maintain “continuity” until Trump’s picks are confirmed, incoming White House press secretary Sean Spicer said Thursday.
Others include Robert Work, deputy secretary of defense; Chuck Rosenberg, administrator of the Drug Enforcement Administration; Nick Rasmussen, director of the National Counterterrorism Center; Tom Shannon, undersecretary of state for political affairs; Kody Kinsley, assistant secretary of management at the Department of the Treasury; and Adam Szubin, undersecretary for terrorism and financial intelligence in the Treasury Department.
McGurk said recently that he told Trump’s transition team he was willing to stay on following the inauguration, noting the “apolitical” nature of his work.Trump has consistently remarked throughout his campaign that he believes President Obama’s approach to fighting the Islamic State hasn’t been successful and that the United States needs to work with Russia to fight the extremist group. In September, he also said that U.S. generals fighting in the region “don’t know much.”
McGurk worked with the provisional Iraqi government after the U.S.-led invasion in 2003 and on George W. Bush’s National Security Council. He was a proponent of the 2007 troop surge in Iraq and was one of the few holdovers from the Bush administration to work under Obama after the 2008 election. Following a brief stint in the private sector, McGurk came back to the State Department in 2013 as a deputy assistant secretary of state. In 2015 he replaced retired Marine Gen. John Allen as Obama’s envoy to the international coalition fighting the Islamic State.
McGurk was nominated to serve as Obama’s ambassador to Iraq in 2012, but his confirmation was derailed after leaked personal emails revealed that McGurk had been carrying on an intimate relationship with a Wall Street Journal reporter during an earlier diplomatic tenure in Iraq.

Bollywood Film Raees will be screen in Pak ?

Distributors are hoping to get the permission before 'Raees', starring Bollywood star Shah Rukh Khan and Pakistani Maira khan. If Sharif government does not directly permission, then thorough NOCs wil be made a path. For import of Bollywood films Pakistan’s Prime Minister Nawaz Sharif has constituted a committee to consider a request by distributors. Distributors are hoping to get the permission before Raees, starring Bollywood superstar Shahrukh Khan and Pakistani actor Maira Khan, releases on January 25. The committee formed by Mr. Sharif is headed by Minister of State for Information Maryum Aurangzeb. It includes the Secretary of Commerce, Adviser to the Prime Minister on National History and Literary Heritage and a representative of ISI.Cinema hall owners had suspended the screening of Bollywood films in Pakistan’s theatres in October last year following escalation of tensions along the Line of Control. Indian films are in the list of banned items in Pakistan. But the Commerce Ministry, under para-19 of the import policy order, had issued no-objection certificates (NOCs) at the request of the Information Ministry for import of Indian films since 2006. The Information Ministry, in consultation with the Commerce Ministry, followed a procedure to allow the import of two or three Indian films per month through NOCs.

Mr TrumpTaking u-turn !

Why he belives in Obama’s appointee 

Mr. Donald Trump is very clever politician and best administrator. He proves in his first step  for the government.Taking a U-turn on earlier announcements,  Donald Trump has decided to keep more than 50 officials from the outgoing Obama Administration to stay in office after his inauguration. “In the addition to the appointments that we’ve announced and will announce, the President-elect has asked over 50 individuals to stay in critical posts throughout the government,” Mr. Trump’s incoming White House Press Secretary Sean Spicer told reporters on Thursday. The Trump Transition Team had earlier said that it would not give extension to any of the political appointees, including Ambassadors.The officials who will continue their service are Deputy Secretary of Defense Robert Work, Chuck Rosenberg the DEA administrator, Nick Rasmussen, Director of the National Counter-terrorism Center, and Tom Shannon, the Under Secretary of State for Political Affairs.Other prominent officials are Susan Coppedge in Department of State, which is the office to monitor and combat trafficking of persons, Brett McGurk, special envoy for the global coalition to counter ISIS, Assistant Secretary of Management of Department of Treasury Kody Kinsley and Adam Szubin, who is the acting Under Secretary for terrorism and financial intelligence in the Department of the Treasury.These officials will be staying aboard through the time being, until a replacement can be named, Mr. Spicer said.

Bad indication for Indian IT companies & IT degree holder

In America more powerful H1B visa comes in few next days

It is bad indication for Indian It companies. The New ruting of America Indian companies can not replace American employee to hired H1b visa holder.Beacause two powerful U.S. Senators have announced they will introduce a legislation which, if passed by the Congress, would give preference to foreigners studying in American universities, a move that will tighten the noose around the H1B visa programme and could hurt Indian IT firms.The bill — to be introduced by Senator Chuck Grassley and Dick Durbin — will require U.S. Citizenship and Immigration Services to prioritise for the first time annual allocation of H1B visas. It will ensure the “best and brightest” students being educated in the U.S. receive preference for an H1B visa, a statement issued by the Senators said. The preference system also gives a leg-up to advanced degree holders, those being paid a high wage, and those with valuable skills, it said. “Congress created these programmes to complement America’s high-skilled workforce, not replace it. Unfortunately, some companies are trying to exploit the programmes by cutting American workers for cheaper labour,” Mr. Grassley said.“We need programmes dedicated to putting American workers first. When skilled foreign workers are needed to meet the demands of our labour market, we must also ensure that visa applicants, who honed their skills at American colleges and universities, are a priority over the importation of more foreign workers,” he said. “Our bill takes these steps to ensure that the programmes work for Americans and skilled foreign workers alike,” said Mr. Grassley, chairman of the Senate Judiciary Committee.
The legislation restores Congress’ original intent in the H1B and L1 visa programmes by increasing enforcement, modifying wage requirements and securing protections for both American workers and visa holders. “Reforming the H1B and L1 visa programmes is a critical component of fixing our broken immigration system and must be included in comprehensive immigration reform legislation,” Mr. Durbin said.“For years, foreign outsourcing companies have used loopholes in the laws to displace qualified American workers and facilitate the outsourcing of American jobs. The H1B and L1 Visa Reform Act would end these abuses and protect American and foreign workers from exploitation. I thank Senator Grassley for partnering with me on this important bipartisan legislation,” he said.The bill, inter alia, would crack down on outsourcing companies that import large numbers of H1B and L1 workers for temporary training purposes only to send the workers back to their home countries to do the same job. Specifically, it would prohibit companies with more than 50 employees, of which at least half are H1B or L1 holders, from hiring additional H1B employees, the statement said. The legislation gives the Department of Labour enhanced authority to review, investigate, and audit employer compliance with programme requirements, as well as to penalise fraudulent or abusive conduct. It requires the production of extensive statistical data about the H1B and L1 programs, including wage data, worker education levels, place of employment and gender.According to the Senators, the bill clarifies that working conditions of similarly employed American workers may not be adversely affected by the hiring of H1B workers, including those who have been placed by another employer at the American worker’s worksite. In addition, it explicitly prohibits the replacement of American workers by H1B or L1 visa holders. These provisions address the types of abuses that have been well-documented in recent press reports.This News is bad for Indian IT degree holder, who want to go abroad. 

Thursday, 19 January 2017

India’s strorngly reply to UK

JK issue is not World problem,it can resolvee bilaterally with Shimla agreement

India today reacted strongly to reports that British Parliament may debate on the issue of Jammu and Kashmir, saying there is no room for a third party role in the matter. Noting that the government was aware of the development, External Affairs Ministry Spokesperson said to Et, "Our position on the issue of Jammu and Kashmir is very clear that all issues between India and Pakistan are to be resolved bilaterally and peacefully in accordance with Simla Agreement and Lahore Declaration. "There is no room for third party."
According to reports, UK's House of Commons was likely to debate on J&K issue which was proposed by the Backbench Business Committee following an application from British MP David Nuttall. The motion to be debated said, "That this House notes the escalation in violence and breaches of international human rights on the Indian side of the LoC in Kashmir; calls on the Government to raise the matter at the UN Nations."
"And further calls on the Government to encourage Pakistan and India to commence peace negotiations to establish a long-term solution on the future governance of Kashmir based on the right of the Kashmiri people to determine their own future in accordance with the provisions of UN Security Council resolutions," as per the reports. India strongly reacte this matter. India and Pas can resolve this problem.No one should worry about this.

Crown Prince of Abu Dhabi to India will be Chief Guest for the Republic Day

His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces of United Arab Emirates is visiting India as the Chief Guest for the 2017-Republic Day celebrations from 24-26 January 2017. He will be accompanied by a high-level delegation, including Ministers, senior officials and captains of industry.
During the visit, the visiting dignitary would call on Rashtrapatiji Shri Pranab Mukherjee and Vice President Shri Mohammad Hamid Ansari and would hold discussions with Prime Minister Narendra Modi on bilateral, regional and global issues of common interest.
This is the second visit of the Crown Prince of Abu Dhabi to India since February 2016. Following the landmark visit of Prime Minister  Narendra Modi to UAE in August 2015, the two countries have agreed to elevate the mutually beneficial relationship to a comprehensive strategic partnership.
.