Top World News Stories of 22nd October 2008

Daily news summary

N-deal won’t help India make or acquire nuclear weapons: Bush
US president George W. Bush has certified to the Congress that the nuclear deal will not help India to make or acquire nuclear weapons. Bush conveyed the certifications under a Presidential Determination made Oct 20 in a memorandum to the Secretary of State, Condoleezza Rice. Bush will have to make another set of certification before the implementing 123 agreement comes into force with an exchange of diplomatic notes and the two countries can resume nuclear trade banned since India's first "peaceful nuclear explosion" in May 1974. Bush stated in the memo that the United States under the Treaty on the Non-Proliferation of Nuclear Weapons will not assist, encourage, or induce India to manufacture or otherwise acquire nuclear weapons or other nuclear explosive devices.

India, Japan sign security pact
India and Japan signed a security pact today in Tokyo. This joint declaration on security cooperation will intensify interaction between their militaries and expand the scope of strategic dialogue between the two Asian powers. Cooperation between coast guards, defence dialogue, coordination on issues relating to disarmament and non-proliferation and disaster management are some of crucial elements of the security cooperation pact signed by Prime Minister Manmohan Singh and his Japanese counterpart Taro Aso. The pact will also open frontiers for strategic dialogues at the level of foreign ministers, the defence ministries and periodic consultations by the national security advisors of the two countries. This will also pave way for cooperation between the Indian Space Research Organisation and the Japan Aerospace Exploration Agency in the field of disaster management.

USIBC hails India's moon mission
The United States India Business Council (USIBC) has hailed the launch of India's maiden moon mission with two US instruments on board as the beginning of long "relationship promoting the opening of the frontier of outer space." The premier business advocacy organisation representing 280 of the largest US companies investing in India, celebrated the historic launch of Chandrayaan I at a reception at the US Chamber of Commerce. Over a hundred US industry representatives, joined by officials from the White House, the State Department, US space agency NASA and the Indian Embassy watched the launch on a "live video feed" from Sriharikota, Andhra Pradesh. Chandrayaan I is carrying a scientific payload to the moon furnished by NASA that will enable experts from both countries to answer questions about the moon's origin and geological development - as well locate resources, including water.

IT-Hyderabad to grow with Japanese partnership
A new Indian Institute of Technology (IIT) coming up in Hyderabad will emerge with close Japanese partnership at the post-graduate level in key areas, including setting up of a Japanese-style business management course, and increased funding for purchase of technical and research equipment to make it into an institution of excellence. It is part of the working group set up by former Japanese prime minister Shinzo Abe and Prime Minister Manmohan Singh in August last year to zero in on a new IIT that would see Japanese assistance. The institute in addition to IT courses will also run courses on Japanese-style business management. The premier institute will also set up a Japanese language course for students that could help them find jobs in Japan in the future.

Bank of Baroda opens new unit in UAE
Bank of Baroda (BoB), which has major operations in the United Arab Emirates (UAE), has opened a new electronic banking service unit (EBSU) in Abu Dhabi. India’s Ambassador to the UAE Talmiz Ahmad and BoB chairman and managing director M.D. Mallya inaugurated the unit at the Mussafah area of the UAE capital. Speaking on the occasion, Mallya said that the bank plans to expand by opening 10 more branches abroad during 2008-2009. This is the second BoB EBSU in the UAE, the other one being in Jebel Ali, Dubai. The bank has six full-fledged branches in the UAE, which is home to around 1.5 million expatriate Indians.

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