Tuesday, August 5, 2014

Finance Minister Justifies India’s Aversion to Trade Facilitation Agreement at WTO


India backed out from giving its consent to Trade Facilitation Agreement in what would have been a historic trade deal at World Trade Organization (WTO) in Geneva last week.
Simplifying worldwide customs rules to facilitate global trade is at the core of this newly proposed trade agreement which had been mutually agreed on a ‘peace clause’ in last year’s WTO meeting and was widely expected to be a ‘done deal’ this year.
India, however, did not agree on the deal, citing WTO’s inability to respond positively to the country’s call for stockpiling food.
In an interview with NDTV on Monday, Arun Jaitley, India’s Finance Minister, justified the government’s decision saying, “The fact of the matter is there have been many instances in history where India has been forced to raise its voice against the powerful nations.”
“Our farmers will be reduced to starvation and suicide. We can't be a party to that. If we did not have the (measures) this few hundred suicides that you hear of would be in lakhs (hundreds of thousands).”
John Kerry, the US secretary of State, has been critical of India’s decision over the issue and put a question mark on India’s approach to free economy.
For a deal to be struck, WTO needs an agreement among its 160 members. This new trade agreement would reportedly contribute $1 trillion to the global economy, creating 21 million jobs in the process worldwide.

Related source:
IOL

Head of Nokia India Steps Down


P Balaji, the head of Nokia India, has stepped down from his post recently. Despite the resignation, he will continue to serve the Finnish company as an advisor until October this year.
The former head of Sony Ericsson’s operations in India, P Balaji held the position at Nokia India since July 2012. His decision came less than a month following Microsoft’s acquisition of Devices and Services division of Nokia.
Speculation is rife that Balaji’s resignation from head of Nokia India post is largely down to Microsoft’s decision of curtailing Nokia’s worldwide handset business, following the US-based company’s acquisition of Nokia’s handset division.
Denying any connection between Balaji’s quit and Nokia’s acquisition by Microsoft, a spokesperson of Nokia India revealed, “After spending almost two years with Nokia and now in Microsoft Devices Group, P Balaji has decided to move on from the organisation for personal reasons.
P Balaji has an illustrated career spanning over two decades. He worked extensively in the telecommunication sector in India before joining Nokia to look after its India operations.
He played a crucial role in dissolving Nokia’s tax row and was a major influence behind the company’s successful launch of Lumia brand in India and responsible for establishing the X family of phones.
E-commerce in India is flourishing and it is not clear how companies like Nokia want to make the best out of it.

Related source:
The Hindu Business Line

Tuesday, December 3, 2013

Nepal: The last Opportunity for Peace and Stability

No party has managed to win majority in the recently held Constituent Assembly election in Nepal. The Nepali Congress got 196 seats and it fell well short of obtaining 302 seats for a simple majority. So, it will be a hung parliament and political negotiation has already started. As an observer of Nepal for the last one and half decade, I can easily predict that there is little hope for peace and stability.

Jhalanath Khanal-led CPN (UML) won 175 seats, followed by Prachanda's UCPN-Maoist with 80 seats in the November 19 vote to elect the 601-member Constituent Assembly.
The NC has gained 91 PR seats, followed by the CPN (UML) with 84, UCPN-M with 54 and Rastriya Prajatantra Party-Nepal (RPP-N) with 24 seats.


Sadly, Nepalese people are deeply divided and there is really no hope for any unity among the political leaders. So, I don’t see any hope for peace in the country. On the other hand, this time, the people have voted against the Maoists. This indicates that people do not like extremism. 

Binod Chaudhary: The first Billionaire from Nepal

Nepal is famous for its poverty and we hardly hear of any famous Nepalese brand outside of the country. Yes, it has taken many people even perhaps in the country itself to know that there is a billionaire in the country- Binod Chaudhary. It is even more surprising to know that much of his income comes from selling noodles.
Mr Chaudhary first began producing noodles in 1984 in collaboration with Thai Preserved Food Factory. The privately held Chaudhary Group discloses very little financial information but he says the group’s noodle sales amount to about $1bn a year – or roughly half the non-Indonesian noodle sales of Indofood.

Really very impressive isn’t it? Well, I wonder how many workers work under this rich man. May be, in the coming months we will know more about his and his business empire.



Wednesday, August 17, 2011

Iftar Party of J.A.N Associates Held

J.A.N Associates arranged an iftar party followed by dinner earlier today (17 August, 2011) at Hotel Pan Pacific Sonargaon. A large number of ICT journalists, corporate partners, dealers and business personnel were present on the occasion. Abdullah H Kafi, Managing Director. J.A.N Associates, and Lim Kok Hin, Vice President of the Business Imaging Solutions of Canon, spoke on the occasion and exchanged greetings with the guests.

Lim Kok Hin expressed his happiness at meeting with the journalists and partners of Canon in Bangladesh. He thanked everyone for their efforts in building a brand name for Canon in this country. He informed that Canon was doing well in Bangladesh in printer, digital camera, and scanner market. He also expressed his optimism that Canon would be a bigger brand in the country in the coming years.

Mr. Hin expressed his gratitude towards Canon’s distributor in Bangladesh J.A.N Associates. He stated that because of the tireless efforts of all the workers of J.A.N Associates, Bangladesh has become a success story for Canon. He assured of providing more support for the consumers in coming days.

Lim Kok Hin said, “I like to specially thank our dear friend and partner, Mr. Abdullah H. Kafi, for promoting not only Canon products in Bangladesh but the overall ICT sector. I am impressed at the interest among the business community and common mass towards ICT in this country.”

Abduallh H. Kafi, Managing director, J.A.N Associates, welcomed everyone and said, “It gives me a lot of pleasure to meet the friends and partners who have been supporting us for many years. With their continuous support, J.A.N Associates has emerged as one of the leading ICT companies in Bangladesh. For the last one and half decade, we have been focused on Canon products and achieved tremendous growth. This has been possible because of the support and trust from our dealers and partners. Media also supported us a lot. Finally, we are grateful to the consumers who not only selected our products but also recommended them to their friends and relatives. We are always focused on giving the best support to the consumers.”