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U.S. Lawmakers Push To Finalize A Deal To Create A $700 Bln Govt Fund To Buy Bad Debt as well as Halt The Financial Crisis....
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The Indo-US nuclear deal has moved into the last lap clearing a major hurdle when the House of Representatives approved a legislation on it that will now go to the Senate before the two countries can implement the civil nuclear agreement.
After a lot of drama and suspense, the House passed the Bill on an unusual extra day of sitting on Saturday with bi-partisan support but a considerable number of Democrats were still opposed to it.
The Berman Bill H R 7081, named after Howard Berman, a Democrat strongly opposed to the deal on non-proliferation grounds and who converted only a couple of days ago, was adopted with 298 voting for and 117 against. One lawmaker merely voted present.
The deal just needs the backing of the Senate which may vote next week on the issue. But the Senate vote appears to be a formality given the fact that an identical Bill has already been approved by its Foreign Relations Committee earlier this week.
Though a Congressional consent eluded the deal when Prime Minister Manmohan Singh and President George W Bush when they met on Thursday, the House approval came hours before the Prime Minister left the US shores winding up his five-day visit on his way to France.
Manmohan misses memorable birthday gift
For information,with regards
rvk41...
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You are absolutely right that it is disturbing to bear about such incidents. This must be prevented....
In reply to:
Sacked employees beat CEO to death
Posted by :
karen
Really guys don't you think it is disturbing to hear of such incidents... i mean the fact that they went on a rampage is fine.. but why did they kill the man... this needs to be prevented.. do let me know what you think. 
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40crore valuation? Can Info Edge at least reveal how big this company is and whether it is profitable? Why are they quiet? Looks like this is going to further decrease the profits of Info Edge in the short-term...
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Info Edge invests Rs 200mn in eTechAces
Posted by :
MMB Messenger
Info Edge, India's Largest Internet Company, announced an investment of INR 200 Million towards a 49% equity stake in eTechAces Marketing and Consulting Private Limited, a company in the business of distributing financial products online. The investment would be made in tranches based on performance milestones.
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Info Edge, India's Largest Internet Company, announced an investment of INR 200 Million towards a 49% equity stake in eTechAces Marketing and Consulting Private Limited, a company in the business of distributing financial products online. The investment would be made in tranches based on performance milestones....
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Farmers should given first preference.. if not compensation should be given according to market value (not as govn value,which is very less)...
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Farmers protest against Mangalore SEZ, allege harrassment
Posted by : MMB Messenger
The special economic zone (SEZ) battle has now reached South India. The Mangalore SEZ is threatening the livelihood of around 20,000 people. It's also threatening their way of life and that can hardly be compensated. The farmers are now fighting back.
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The special economic zone (SEZ) battle has now reached South India. The Mangalore SEZ is threatening the livelihood of around 20,000 people. It's also threatening their way of life and that can hardly be compensated. The farmers are now fighting back....
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Avaya GlobalConnect, one of India’s leading business communications solutions providers, has welcomed the relaxation of regulations for the BPO industry by DoT....
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BEIJING (Reuters) - The man who made China's historic first "footprint in space" is preparing to return to earth on Sunday after a historic mission that boosted national pride and took his country one step closer to the moon.
Zhai Zhigang and two other astronauts on the Shenzhou VII craft are due to land around 5 p.m. (5 a.m. EDT) in northern Inner Mongolia region.
His successful space walk in a $4.4 million, domestically designed, suit caps an eventful year for China in which it has both coped with the tragedy of the devastating Sichuan earthquake and reveled in the Beijing Olympics.
The achievement was hailed by Communist Party leaders as a success for the whole nation and during his twenty minutes outside the craft -- but tethered to it to prevent him floating off -- the son of a snack-seller unveiled a small Chinese flag.
It was China's third manned space mission. The ability to "space walk" is key to a longer-term goal of assembling a space lab and then a larger space station, and maybe one distant day making a landing on the moon.
The fast-growing Asian power wants to be sure of a say in the future use of space and its resources, and its space programme has come a long way since late leader Mao Zedong lamented that China could not even launch a potato into space.
Its first manned spaceflight was in 2003, followed by a two-man flight in 2005. The only other countries that have sent people into space are Russia and the United States.
But Xinhua also said that China remained far behind the two leading space powers, Russia and the United States.
It will start selecting new trainee astronauts for an even more demanding mission, orbiter docking, once the Shenzhou VII crew are safely back to earth, Xinhua said.
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BEIJING (Reuters) - The man who made China\\`s historic first \\\\...
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We seen every year goes thorugh blasts. But how come so many blasts & more frequency of the blasts occured after the Indo-US nuke deal confidence voting?
I think it is mainly done for unstabilising the present government, no matter which party ruling the government at present. & I really dont feel that anyone should give resignation as the blasts might be intended or might be done purposely to remove the particular person from goverment or the government itself from the country so that the way & destruction path of terror makers become clear. ...
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Two dead, 25 injured in Delhi's Mehrauli blast
Posted by : MMB Messenger
At least five people are feared killed and more than 50 injured as a bomb exploded in a crowded market in south Delhi.
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At least five people are feared killed and more than 50 injured as a bomb exploded in a crowded market in south Delhi. ...
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Buffett could reshape nuclear power industry------------------Warren Buffett’s decision to rescue Constellation Energy Group Inc. gives one of the nuclear power industry’s biggest sceptics some important clout in deciding its future.
In agreeing to a $4.7 billion (Rs21,808 crore) cash deal for Baltimore-based Constellation, Buffett’s Berkshire Hathaway Inc. will gain control of three nuclear power plants. In addition, it will own half of a prominent nuclear plant development company, UniStar Nuclear Energy Llc., which is trying to accelerate construction of the next generation of nuclear plants in the US.
Buffett, who has sizeable investments in electric utilities and gas pipelines through Berkshire’s energy firm, MidAmerican Energy Holding Co., has previously argued nuclear plants are too costly to build.
On Thursday, MidAmerican chief executive Greg Abel sounded more enthusiastic about the technology, saying ”we’re committed to new nuclear.” But he acknowledged that construction costs still have to be right. Buffett may still decide costs are too high, which could send a shudder through the rest of the nuclear industry.
The UniStar consortium brings together some of the most sophisticated players in the nuclear sector, including Electricité de France SA, the world’s largest operator of nuclear plants; Areva SA, the world’s largest nuclear engineering firm by revenue; equipment maker Alstom SA; and engineering, procurement and construction firm Bechtel Corp.
Executives at both EDF and Areva said they are worried that Buffett will order Constellation to ditch its nuclear plans over fears of soaring costs, and possibly pull out of UniStar altogether. Both invested in UniStar as a way of extending their reach into the US market.
The deal to acquire Constellation still faces regulatory and shareholder scrutiny, and it is possible that competing bids could emerge.
Buffett’s sudden emergence raises questions about whether nuclear development, in general, has viability, according to Paul Patterson, head of Glenrock Associates Llc. in New York, a research firm. “It’s a very cloudy picture,” Patterson says, “And, so far, we don’t have anyone making a firm decision to go forward.”
The uncertainty is another sign of how the credit crisis is impacting industries beyond Wall Street. Until recently, the US appeared to be on the verge of a nuclear power revival. Rising prices of fossil fuels and the growing efforts to limit emissions of greenhouse gases had rekindled interest in zero-emission nuclear power plants. Developers have presented 18 applications to the Nuclear Regulatory Commission seeking permission to build new plants. Several companies also are seeking US certification of new reactor designs.
But Patterson notes that those plans now face higher hurdles. The estimated costs for nuclear plants have skyrocketed lately. The availability of financing for the projects could be in jeopardy and electricity demand could decline if the nation falls into recession.
For Buffett, price has always been the major sticking point. His energy company, MidAmerican, formed a special unit last December to explore possible construction of a nuclear plant at a site in Idaho. That created a flurry of excitement as people in the industry believed that Buffett might finally throw his weight behind the technology. But MidAmerican pulled the plug seven weeks later, saying it was too costly.
MidAmerican’s Abel said last week nuclear plants “have to be priced such that they can bring power into the market at prices customers can afford”. He said the Idaho project didn’t have the right balance of “cost and risk...so we just sort of put it on hold”.
Abel, in an interview on Thursday, said that experience makes the UniStar consortium approach more valuable. “We’d like to revisit the Idaho site with EDF, at some point, because the West is going to need new nuclear.”
The Constellation purchase, if completed, will give MidAmerican control of five reactors and many more fossil-fuel units, plus an energy-trading unit, a retail energy sales unit, and utility Baltimore Gas and Electric Co—all for $4.7 billion, about half the cost of a single new nuclear plant.
EDF and Areva have a lot riding on UniStar, their sole vehicle for US development. Areva has applied to the Nuclear Regulatory Commission (NRC) for certification of its evolutionary power reactor, a next-generation reactor that it hopes to build at sites in the US.
Once the NRC certifies a new reactor, it designates a “reference plant” which typically is the first project built with that reactor. All the engineering work done for that plant must be shared with subsequent projects to save time and expense for developers and the NRC. The reference plant for the Areva reactor is Constellation’s Calvert Cliffs plant in Maryland.
If Berkshire pulled the plug on the additional reactor at Calvert Cliffs, it would be a set back for Areva, as well as other companies planning on using Areva’s design, such as Missouri-based Ameren Corp., and Pennsylvania-based utility, PPL Corp.
Mike Wallace, Constellation’s generation group president, said that if “Calvert doesn’t pencil out, none of the others will, either.”
He said he worries most about getting financing for big, expensive projects without clarity on how federal loan guarantees or subsidies will play out. Until that’s known, “a decision isn’t possible,” he said on Thursday.
Constellation chief executive Mayo Shattuck III said last week his firm was thrown into the arms of MidAmerican after a “classic run on the bank,” as investors dumped shares fearing it would be unable to secure a $2 billion bank credit facility needed for its energy-trading operation.
“We engaged in discussions,” Shattuck said, as “we perceived we might not be in commercial operations for long.”
He said Buffett moved quickly to an agreement and injected $1 billion in capital a day later. Shattuck said he was forced to act because credit-rating agencies were “spooked.” A downgrade to less than investment grade could have increased Constellation’s collateral requirements by $3 billion, more money than it had.
The Wall Street Journal---------
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The race to secure Congressional approval for the Indo-US civilian nuclear agreement in this session continued on Thursday with the introduction of a bill in the House of Representatives.
But there was concern that an item in a separate list of measures that could be discussed and voted on might prove to be a hurdle.
An item added to the “suspension list” by House Foreign Affairs Committee Chairman Howard Berman, Democrat of California, angered supporters of the agreement, including the Indian American Republican Council.This made it more difficult to say whether ratification would be completed by the time Prime Minister Manmohan Singh meets President Bush on Thursday evening in Washington. For that to happen, both Houses of Congress will have to approve measures with identical language.
Florida Congresswoman Ileana Ros-Lehtinen, the ranking Republican on the House Foreign Affairs Committee, introduced the Senate version of the approval bill in the House on Wednesday night, sources said.
Earlier in the day, a committee agreed to suspend the rules so that the House could consider the matter on Thursday. “It shall be in order at any time on the legislative day of September 25, 2008, for the Speaker to entertain motions that the House suspend the rules” relating to certain measures, the Rules Committee resolved. At No 9 on the list of measures was “A bill relating to India nuclear cooperation.”
The “United States-India Nuclear Cooperation Approval and Nonproliferation Enhancement” Bill, which was sent to the full Senate on Tuesday by the Senate Foreign Relations Committee, is believed to have the administration's support.
An item added to the “suspension list” by House Foreign Affairs Committee Chairman Howard Berman, Democrat of California, angered supporters of the agreement, including the Indian American Republican Council. “His bill is meant to kill the agreement because it attaches language ... regarding Iran,” said IARC spokeswoman Nina Verghese.
But Lynne Weil, a spokeswoman for Berman, said, “At this hour Chairman Berman has not yet introduced legislation on the agreement.”
A Congressional aide said the suspension list includes descriptions of bills that have not yet been introduced.
Berman is an advocate of non-proliferation.
To complicate matters, members of both Houses are preoccupied with the financial crisis in the United States and a $700-billion revival package proposed by the administration. Before his talks with Singh, Bush was to hold a meeting on ways to deal with the crisis with Congressional leaders, including presidential candidates Barack Obama and John McCain.
This session of Congress is scheduled to end on Friday, but an extension appears likely.
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this stock traded about 1600 in nov-2008...
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