SAIL inks MoU with Mongolia to develop coal reserves

Steel Authority of India Ltd (SAIL) has signed a memorandum of understanding (MoU) with Mongolian Ministry of Mineral Resource and Energy to help Mongolia to develop its coal reserves. Mongolia is the second such nation after Afghanistan where SAIL plans to develop coal reserves.  

Record NRI deposit in Indian Banks

Money that NRIs deposited to Indian banks tripled to a record $11 billion in 2011-12. The average NRI deposit in the previous five years was $2.9 billion. The record inflows came amid sharp depreciation of the rupee from 44.50 to a dollar to 51.10. 

G8 summit starts at Maryland, US

The summit of the Group of Eight (G8: Britain, Canada, France, Germany, Italy, Japan, Russia and the US) will discuss issues, including the eurozone crisis, Iran nuclear standoff, Syria, global energy and food security, among others.

This summit will be unproductive in many issues  given the substantial differences between German Chancellor Angela Merkel and new French President Francois Hollande.