news for the week 23-27 aug

1. India-ASEAN may fix deadline to clinch services pact. Pact on services & investment will complete Bilateral Comprehensive Economic Partnership Agreement. India expects to gain a lot from services pact as there is much scope for indian professionals to work in Singapore, Malaysia and Indonesia.

2. It’s almost curtain call for Vedanta in Orissa It is expected to be curtain call for Vedanta’s plan of sourcing bauxite for the Niyamgiri Hills in Orissa. A key advisory panel of the environment ,the Forest Advisory Committee, has recommended that the govt reject the proposal to mine the Niyamgiri Hills for bauxite

3. Telcos want higher termination fees for incoming international calls. Incoming international calls to India will become costlier if telecom regulator accepts the proposal mooted by local mobile phone companies. Currently incoming call to India is charged at a flat rate of 40 paise per minute which is proposed to increase by 33% i.e. at 60 paise per minute.

4. Sesa investor contests Vedanta's Cairn bid Vedanta Group’s bid to acquire Cairn India has been challenged in the Supreme Court by a minority shareholder of Sesa Goa, a subsidiary of Vedanta Resources. As per Vedanta’s plan, Sesa Goa is to acquire a 20% strategic stake in Cairn India for $3 bn through an open offer. Billionaire Anil Agarwal-owned Vedanta Group plans to acquire around 60% stake in Cairn India for over $9 bn, including the 20% proposed to be bought by Sesa Goa.

5. Apple's iPad to remain king of tablets: Report Apple Inc's iPad will not face a serious competitor until next year, and when tablet rivals do emerge, they will have a hard time matching iPad's customized applications, according to a report from market research firm iSuppli. The iPad, which likely will account for nearly three quarters of worldwide tablet shipments this year, will hold at least 70 percent of the market in 2011 and 62 percent by 2012, iSuppli said in its report on Wednesday

6. Check out the latest buzz in Indian IT sector. IT firm HCL Infosystems on Friday said it will invest up to Rs 300 cr over the next 2-3 years on consolidating its facilities and expanding its software business. For the first time in many years, second-tier IT vendors are not sharing the same optimism as their larger counterparts about a recovery in demand for IT services.