US eases some high-tech export curbs on India

WASHINGTON: The US Commerce Department said on Monday it was easing restrictions of exports of high-technology goods to India in recognition of the two countries” stronger economic and national security ties.

“Today’s action marks a significant milestone in reinforcing the US-India strategic partnership and moving forward with export control reforms that will facilitate high-technology trade and cooperation,” Commerce Secretary Gary Locke said in a statement.

It follows President Barack Obama’s meeting with Prime Minister Manmohan Singh in November in New Delhi, where they announced plans to expand cooperation in civil space, defense and other high technology sectors.

It also contrasts with remarks made by US Treasury Secretary Timothy Geithner before Chinese President Hu Jintao’s visit last week to the United States.

Geithner tied the possibility of increased US high-technology exports to China to movement by Beijing on currency and a number of trade reforms.

As a first step in implementing Obama and Singh’s commitment, the Commerce Department”s Bureau of Industry and Security said it would publish a new rule changing how India was treated under Export Administration Regulations (EAR).

A key measure removes several Indian space and defense-related organizations from the US Entity List, which imposes extra export licensing requirements on foreign groups or individuals whose activities have aroused concern about the possible diversion of US high-technology products that could be used to build weapons of mass destruction.

Those removed from the Entity List include Bharat Dynamics Limited, four subordinates of India’s Defense Research and Development Organization and four subordinates of the All Indian Space Research Organization.

The reforms also “realign” India’s standing in the US export control regime by removing it from several country groups associated with proliferation concerns. It adds India to a more favorable category consisting of members of the Missile Technology Control Regime.

“These changes reaffirm the US commitment to work with India on our mutual goal of strengthening the global nonproliferation framework,” Under Secretary of Commerce Eric Hirschhorn said in a statement.

Locke will lead 24 US businesses on a high-tech trade mission to India in February.

The group includes Boeing, Exelon Nuclear Partners, Lockheed Martin and GE Hitachi Nuclear Energy.

The delegation, which also includes senior officials from the US Export-Import Bank and the Trade Development Agency, will make stops in New Delhi, Mumbai and Bangalore.

An administration official, who briefed reporters on condition he not be identified, said less than 1 percent of current US-India trade was affected by export controls.

However, “the perception of onerous export controls certainly has been a hindrance to high-technology trade over the years,” the official said.

“The goal here is to make sure we are in the best possible place to ensure trade in defense, civil space and high-tech can proceed in an expeditious and ultimately prosperous fashion,” the official said.

Even with the reforms announced on Monday, there will still to be licensing requirements on many sensitive US technologies that go to India, as there on some technologies to all countries, the administration official said.

Ruggiero appointed as acting Pakistan-Afghanistan envoy

Career civil servant Frank Ruggiero has replaced his late boss Richard Holbrooke as the acting special representative to Afghanistan and Pakistan.

Ruggiero joined US Secretary of State Hillary Clinton at a National Security Council meeting Tuesday at the White House that focused on the annual review of Afghanistan policy, State Department spokesman Philip Crowley said. He was appointed to this post after Holbrooke died on Monday from complications from a torn aorta. Ruggiero became Holbrooke’s deputy in July 2010 after serving as the senior US civilian representative for southern Afghanistan. He served as acting assistant secretary for political-military affairs from January to June 2009. He is a career civil servant who has served not only in the State Department but also in the Commerce Department.

Industrialists to protest gas suspension in Gujranwala

GUJRANWALA: Industrialists and traders of Gujranwala have called an emergency meeting on Monday (today) to outline a strategy regarding the increasing problem of gas suspension.

Sui Northern Gas Company (SNGC) has stopped gas supply to more than 1,200 industrial units of Gujranwala, Gujrat, Sialkot and Hafizabad for an indefinite period, leaving thousands of workers and laborers jobless.

The Gujranwala Chamber of Commerce and Industry (GCCI) has also called a meeting to announce a protest plan against the gas outages. Trend Pk

Commerce (male) admission results

The Centralized Admission Policy (CAP) has released a new list of Commerce students (male). To check for your name, please visit www.cap.edu.pk.

Govt. not afraid of anyone: PM Gilani

Staff Report

LAHORE: The government is not afraid of anyone, said Prime Minister Syed Yousuf Raza Gilani Saturday.

PM Gilani said that the present government, Pakistan Peoples Party, came into power after a long struggle. He said that the term of the government is for five years, asking who will unite the country if the present government is being removed.

Addressing Lahore Chamber of Commerce, PM Gilani said that political stability is necessary for economic progress. SAMAA

26 people recovered from a private jail in Badin

By Suleman Mandhro

BADIN: Police have recovered 26 people from a private jail in Tehsil Golarchi on the orders of the court, SAMAA reported Monday.

The orders were given by District and Sessions Judge Badin, Amjad Ali Bohio.

Police conducted a raid on the private jail of Aslam Gujar and recovered nine women, seven children and ten men.

All the recovered farmers were presented before court today, the court has allowed them to spend their lives as they wish. SAMAA

Police decline to register Aisha’s kidnapping case against ASI

By Muhammad Faisal

GUJRANWALA: After the passage of 48 hours, the police remains reluctant to register the kidnapping case of 9th grade student, Aisha, against an Assistant Sub-Inspector (ASI) of Kamonkey, SAMAA reported on Monday.

According to details, Zubaida, a resident of Mohalla Islamabad, Kamonkey, has alleged that Kamonkey City Police Station ASI, Nazakat, kidnapped her 17-year old daughter from home.

Zubaida complained that when she went to the police station to register a case against the culprit, the police misbehaved and did not allow her to enter the police station.

Aisha’s parents have said that two months ago, ASI Nazakat kidnapped their daughter and after media intervention, she was freed from his custody.

The aggrieved family has appealed to Punjab Chief Minister, Shahbaz Sharif, through the media for the culprit, ASI

Oil prices edge up ahead of Fed meeting

TOKYO: Oil prices edged up in Asian trade Monday following last week”s dip, ahead of a widely anticipated Federal Reserve meeting.

New York”s main contract, light sweet crude for delivery in September, advanced 30 cents to 81.00 dollars a barrel.

Brent North Sea crude for September rose 34 cents to 80.43 dollars after falling for three straight days last week.

But sentiment turned positive as “prices were supported above 80 dollars,” Mitsubishi Corporation Futures analyst Tomokazu Amano told Dow Jones Newswires.

Investors were looking ahead to Tuesday”s Federal Open Market Committee meeting amid mounting speculation that Chairman Ben Bernanke may hint at fresh steps to boost the economy after last week”s weak employment data.

“Investors expect there will be some indication of additional actions to prop up the US,” he added, noting that foreign exchange and equity movements were likely to set the tone for crude oil.

US GDP growth fell back sharply to 2.4 percent in the second quarter, the Commerce Department said last Friday, slamming the brakes on an already tepid rebound and painting a bleak picture of the road ahead.

Hike in discount rate to boost econ crunch: KCCI

KARACHI: President, Karachi Chamber of Commerce and Industry (KCCI), Abdul Majid Haji Muhammad has criticised the increase in discount rate by 50bps (Basic Points) to 13 per cent and said it will enhance economic adversity.

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Hike in discount rate to boost econ crunch: KCCI

Oil inched up amid doubts about US, eurozone economies

SINGAPORE: Oil prices inched marginally higher in Asian trade Tuesday with investor sentiment clouded by worries about the US and eurozone economies, analysts said.

New York”s main contract, light sweet crude for September delivery, gained eight cents to 79.06 dollars a barrel and Brent North Sea crude, also for September delivery, was 10 cents higher at 77.60 dollars.

“There are a lot of mixed signals,” said David Johnson, a Hong Kong-based oil analyst with the Royal Bank of Scotland.

“There is not enough confidence in the US and Europe (economic) recovery… a lot of people are getting slightly concerned about what”s happening,” he said.

Skepticism over European banking-sector stress tests, which cleared all but seven European lenders, got a subdued welcome on stock markets on Monday while investors remained concerned about the pace of US recovery from the global slump.

However, latest data on Monday from the Commerce Department showed new home sales increased 23.6 percent to 330,000 units in June from a revised May rate of 267,000, a record low.

The housing sector was at the epicentre of the financial crisis that plunged the US economy into recession in December 2007.

Meanwhile, investors are waiting for the release of a weekly government report on US energy stockpiles regarded as a gauge of demand in the world”s
biggest economy.

Last week”s inventory data showed an unexpectedly big rise in crude stocks and investors expect the report to show a drop in energy reserves when the Department of Energy releases its report Wednesday.

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