february 27, 1995

Tata-SIA venture hits air-pocket

The proposed joint venture between Tata Industries and Singapore Airlines to set up a modern domestic airline ‘Tata Singapore Airlines Private Ltd.’ has not only scared the private airlines but also raised the hackles of Indian Airlines and Air-India. The private operators have already begun lobbying against the airline and cautioned the regulatory bodies such as the DGCA and Foreign Investment Promotion Board against according clearance to it. The application has run up a wall at the stage of consideration itself. Tata Industries submitted its application dated February 6, 1995 to the Chairman of the FIPB, Mr. A. N. Verma.

India seeks more on from UAE

India has sought more crude from the UAE to meet growing domestic demand. An official delegation from the Indian Oil Corporation headed by the Joint Secretary in the Ministry of Petroleum and Natural Gas, Mr. Nirmal Singh, held discussions with a team from Abu Dhabi National Oil Company to work out an agreement for the annual term contract for supply of crude. “The UAE team was favourably disposed to the proposal,” said a source from the Indian delegation. India’s import of crude from the UAE is two million tonnes per annum.

China, US reach agreement on copyright protection

China and the US reached an eleventh-hour compromise agreement on their dispute over protection of intellectual property rights, averting tit-for-tat trade sanctions. The details of the accord were not immediately disclosed and the Xinhua news agency only said both sides will sign a draft agreement on the issue. Negotiations were continuing to put finishing touches on the agreement.

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