latest world business news

A joint communique signed between India and China, the Asian Giants in economy, population and power,    on December 16, 2010 said that they had agreed to expand co-operation in infrastructure, environment, information technology, telecommunications, and investment and finance. It said that both Wen Jiabao and Manmohan Singh wanted "to draw on each other's strengths and pursue mutual benefit and win-win results". Mr Wen hold talks with Indian PM Manmohan Singh on Thursday, December 16, 2010. The two men discussed a number of sensitive issues, including a long-running border dispute. Both sides said they need more time to sort out the border question. The BBC's Sanjoy Majumder in Delhi says that the Chinese premier's visit amounted to a strong endorsement of the economic relationship between the two Asian giants, even though contentious issues remain. Chinese Prime Minister Wen Jiabao arrives in Delhi on 15 December 2010. Mr Wen's delegation in India...

The Asian giants India and China have agreed a new $100 billion bilateral trade target by 2015, up from $60 billion in 2010. The two sides agreed to take measures to promote greater Indian exports to China, to reduce India's trade deficit between the two countries. Companies have already signed business deals worth $16 billion on the opening day of Chinese PM Wen Jiabao's three-day official visit to India. The latest of a number of world leaders to visit India, Mr Wen is accompanied by some 400 Chinese business leaders. China is India's largest trading partner.

Indian Border Security Force (BSF) shot a Bangladeshi national dead on Balapara frontier in Dimla upazila of Nilphamari District of the country in the early hours on Friday (December 17, 2010), just one day after the country-wide colorful celebration of its Victory day, sources confirmed. The victim was identified as Abdur Rashid, 35, son of Abu Chan Mia of Thakurganj village in the upazila. He was a cow trader, family sources of the deceased said. Mentioned that, Mr. Rashid is the 3rd victim of Indian BSF after the killing of Chapainawabganj and Jessore in the last seven days. According to Balapara Banladesh Rifles (BDR) sources, members of the BSF opened fire on the Bangladeshi nationals as they were waiting for cows near border pillar No 8. However, other traders managed to escape from India border but Rashid got killed on the spot. Killing of Bangladeshi nationals is rampant at the India-Bangladesh borders which is like routine work of Indian BSF. Human Rights Watch (HRW), an...

The founder of whistle-blowing website Wikileaks, Julian Assange, has been granted conditional bail by a judge. The 39-year-old was granted bail in London earlier this week but remained in jail after prosecutors objected. The Australian is fighting extradition to Sweden over sex charges involving two women. He denies the allegations. Mr Justice Ouseley granted conditional bail at the Royal Courts of Justice and supporters put up £240,000 in sureties. His release is expected on Thursday. However, the BBC understands he may not be freed until Friday because those who provided the finances must complete paperwork at a police station. Mr Assange's solicitor, Mark Stephens, said afterwards the bail appeal was part of a "continuing vendetta by the Swedes". He said: "We have won costs today but they should be paid by Sweden not the hard-pressed Crown Prosecution Service (CPS)." There has been dispute over who was motivated to appeal against Mr Assange's rel...

Cuban leader Fidel Castro came close to death in 2006, according to the latest secret US diplomatic cables published by Wikileaks. Mr Castro almost died after suffering a perforated intestine during an internal flight, unnamed sources told US diplomats in Havana. The illness led Mr Castro to hand power to his brother Raul, although he has since returned to public life. The 84-year-old's health is considered a state secret in Cuba. The Wikileaks cables, published by the Spanish newspaper El Pais, reveal the intense efforts made by US diplomats in Havana to find out the nature of Fidel Castro's illness and his chances of recovery. The names of the sources of information reported in the cables have been redacted by Wikileaks, but some apparently knew people who were close to the Cuban leader, or had access to his medical records. The details of what they say cannot be independently verified. One cable, sent in March 2007 by the then-head of the US interests section in Havan...

Millions of people from all walks of life observed the 40th Victory Day of Bangladesh today. They came up to the streets of the country in a colorful decoration to celebrate the auspicious national occasion. They turned up the streets with a great enthusiasm and aspiration of building a nation free from corruption, nepotism, deprivation and economic disparity for which they fought nine months against Pakistan in 1971. On Thursday, the nation started their day saluting the valiant sons and daughters of the soil who made their supreme sacrifices for the cause of independence in 1971 with a dream of building a democratic state. They are gathering at various monuments to pay tributes to the national heroes. Today is a public holiday and the national flag has been hoisted atop all government, semi-government and other important establishments. People carrying banners of different political, social, cultural and professional organisations in the capital city along the whole country ...

Cables leaked on December 15, 2010 claim that the president of Azerbaijan accused BP of stealing $10bn of oil from his country and using "mild blackmail" to secure the rights to develop vast gas reserves in the Caspian Sea region. The cables reveal that some of BP's partners in the gas field were upset that the company was so secretive about the incident that it even allegedly withheld information from them. They also say that BP was lucky that it was able to evacuate its 212 workers safely after the incident, which resulted in two fields being shut and output being cut by at least 500,000 barrels a day with production disrupted for months. Embassy cables reveal energy firm 'fortunate' to have evacuated workers safely after blast similar to Deepwater Horizon disaster. Striking resemblances between BP's Gulf of Mexico disaster and a little-reported giant gas leak in Azerbaijan experienced by the UK firm 18 months beforehand have emerged from leaked US emb...