► India, US to resolve differences at WTO 

India has said the allegation made by the US that it is blocking the Doha Round of trade talks is unfair and inaccurate. It added that the officials of the two countries will intensify their engagement in Geneva to narrow differences on cut in duties on industrial and farm goods.  “For us, the Doha Round is as important as it is to the United States or any other country. The criticism is unfair and inaccurate,” commerce and industry minister Kamal Nath said at his session with talk show host Charlie Rose. The minister, who is in Washington, met US trade representative Susan Schwab on Wednesday and Thursday, in an attempt to take forward the on-going World Trade Organisation negotiation which is stuck on critical issues related to cuts in subsidies and tariffs.  (Economic Times,  India)

► Bhutan likely to join WTO by 2009

Bhutan is likely to join the World Trade Organisation by 2009, but the country will not immediately open up its financial and services sectors completely, trade officials have said. Bhutan has so far agreed to open up 54 of 155 services and all of 5,820 goods with fixed maximum duty rates, including all agricultural items. However, these numbers may change after some final discussions.  The country will now have 152 countries as potential trading partners. A WTO negotiation team of key ministries left last Saturday to the WTO headquarters for preliminary talks, however.  (Economic Times,  India)

► Maldives announces special privilege for SAARC nationals

As informed on Wednesday by South Asian Association for Regional Cooperation (SAARC) Secretariat, Maldives has announced special privilege for visiting SAARC nationals.  The Secretariat based in Nepali capital Kathmandu, through Ministry of Culture, Tourism and Civil Aviation of Nepal, Wednesday informed about the decision made by the Second Meeting of SAARC Tourism Ministers, that the government of Republic of the Maldives has made the following decision in regard to special privilege given to SAARC nationals.  Firstly, effective Nov. 1, 2007, a special counter of immigration for SAARC Nationals has been established at the Male International Airport in the country's capital.  (English People Daily,  China)

► China, India largest importers of military hardware 

China and India are the world's largest importers of military hardware and are ranked third and 10th respectively among the countries with the highest defence expenditure in 2007, a Sweden-based peace institute says. India spent $24.2 billion or two percent of the world market share on its military last year, while China spent $58.3 billion or five percent of the global share, the Stockholm International Peace Research Institute (SIPRI) said in its annual yearbook released in Stockholm June 9. In India's case, 30-35 per cent of its total defence expenditure was on imports of military hardware, analysts in New Delhi said. In the case of China, the figure would be closer to 50 per cent, they added.  (Economic Times,  India)

► India fails to deliver major part of rice to Bangladesh within agreed time 

India is yet to fulfil the pledge it had made to support Bangladesh following the devastating cyclonic storm, Sidr, in November last. The giant neighbour has only partially made available the rice it was supposed to export to Bangladesh by June 03 last under a government-to-government deal. After the devastating cyclone-Sidr in mid-November, the Indian external affairs minister Pranab Mukherjee on December 1, 2007 visited Bangladesh and announced that his country would withdraw ban on export of rice to Dhaka and ensure rehabilitation of 10 Sidr-affected villages.  (The Financial Express, Bangladesh)

► Bangladesh: Sustaining growth is a big challenge 

Is it possible for the vast mass of humanity to enjoy the living standards of today's high-income countries? This is, arguably, the biggest question confronting humanity in the 21st century. It is today's version of the doubts expressed by Thomas Malthus, two centuries ago, about the possibility of enduring rises in living standards. On the answer depends the destiny of our progeny. It will determine whether this will be a world of hope rather than despair and of peace rather than conflict. This - not the effectiveness of its particular prescriptions - is the biggest question.  (The Financial Express, Bangladesh)

► Private sectors urged to invest in Asian infrastructure

The infrastructure needs in Asiaare great and a large funding gap exists, so many opportunities are created for private sectors to invest in the Asian infrastructure finance market, said Singapore's central bank's chief Kola Luu Tuesday. The Asian Development Bank (ADB) has estimated that Asia needs about 300 billion U.S. dollars of investments in infrastructure annually, while a study conducted by the United Nations Economic and Social Commission for Asia and the Pacific suggests that the infrastructure financing gap in Asia could be 180 to 220 billion U.S. dollars annually.  (English People Daily,  China)

► Sri Lank: Get markets and prices right to deal with food shortages

Sri Lanka needs to get its markets and prices right to increase domestic production and reduce impacts of global food price increases, economists say. Putting money into agricultural input subsidies, like the fertiliser subsidy, and attempting to achieve food self sufficiency is seen as impractical and unprofitable. Instead, the recommendation is to reduce government interference in pricing and to allow market forces to operate. The supply shortage has already pushed up prices of agricultural goods in local and international markets.  (Sunday Times,  Sri Lanka)

► Pak Trade policy to aim at improving textile exports

Trade Policy 2008-09 would include ten major initiatives for enhancing textile exports from the country.  Federal Minister for Textile Industry and Commerce, Chaudhry Ahmed Mukhtar in a written reply submitted to the National Assembly informed that in order to enhance the textile exports, many initiatives were under consideration for inclusion in Trade Policy 2008-09.  He said all stakeholders were being consulted for formulation of trade policy, Trade Policy 2008-09 would include 10 major initiatives i.e. opening initiatives for minimisation of contamination in cotton.  (Daily Times,  Pakistan)

► Food inflation: is there a way out?

Food inflation is creating a record of sorts as commodity prices continue to soar mercilessly. While the government remains engrossed in the issues regarding restoration of the judges, the rest of the country is severely submerged in energy crisis, power crisis, wheat and rice crisis, to name just a few, and this is without even mentioning the deteriorating law and order. An in-depth analysis of some of the major essential commodities highlights that prices of chakki flour, basmati rice, sugar, oil and ghee in the corresponding month of last year were Rs15 per kg, Rs60 per kg, Rs30 per kg and Rs498 per 5kg tin, respectively.  (The News,  Pakistan)

► World’s top tour operator says Sri Lanka among its best markets

One of the world’s biggest travel groups is bucking the trends in Sri Lankan tourism. While others are wary or hurt by travel advisories, Kuoni UK is showing a 30 percent growth in revenue from the Sri Lanka market, prompting a senior Kuoni official to say, with conviction, “We are here to stay.” In a message that would be comforting to the travel and tour industry and government efforts to market a destination which has a lot of negative press, Nick Hughes, Managing Director, Kuoni Travel Ltd UK, who was visiting Colombo last week, said:  (Sunday Times,  Sri Lanka)

► ADB to finance technical skills training for unemployed Bangladeshis

ADB will help thousands of unemployed and underemployed Bangladesh adults to improve their technical skills by a training system in an attempt to attain better wage and employment prospects.  ADB has approved a 50 million U.S. dollars loan for the Education Ministry of Bangladesh to make its technical and vocational education and training (TVET) programs market-oriented, short-term and relevant, said a ADB press release here on Tuesday.  It said that the project plans to train about 68,200 people over the five years of implementation, especially for the poor who were not able to finish the eighth grade.  (English People Daily,  China)

► World Bank approves $900 mln facility for Sri Lanka

The World Bank Board of Directors on Thursday approved the $900 million-worth, Country Assistance Strategy (CAS) for Sri Lanka, a rolling four-year programme which starts in July 2008, on completion of the previous 4-year programme. Responding to an email query from The Sunday Times FT, World Bank’s Country Director Naoko Ishii – currently in Washington – said the "CAS covering next four years starting July 2008 with US$ 900 million was fully endorsed at the Board with overwhelming support.” She said the Executive Directors endorsed the three strategic objectives of the CAS, namely: (i) achieving more equitable development through accelerated rural development;  (Sunday Times,  Sri Lanka)

► IMF says will probe oil market

The International Monetary Fund said on Saturday it would investigate the surge in crude oil costs after the G8 club of rich nations called for a probe into wild swings in energy prices. The fund’s chief Dominique Strauss-Kahn said tight demand and supply conditions were the key reason for soaring oil prices, which are up fivefold since 2003, but added that may not be thought to explain all the surge. “One may think some financial considerations are at stake and that’s the reason why the G8 asked the IMF to work for the next meeting in October to produce a report on this question,”   (The News,  Pakistan)