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Colourful diplomacy
Indian diplomacy is making its presence felt in Washington DC, thanks to the colourful Indian saree. India’s Foreign Secretary Nirupama Rao and Ambassador Meera Shankar have become eye-catchers in the corridors of the US State Department with their bright silk sarees. However, inside meeting rooms, they are raising eyebrows more than they are turning heads. As one beltway wag put it, it appears Ambassador Shankar is not shy of making it obvious that it is she, and not the foreign secretary, who knows Delhi’s real mind on issues. The point being made, it seems, is that while seniority has put Rao in her chair, proximity to Delhi’s power centre has got Shankar her job! Meow

ADAG chalks out plan to grow exchange business
Gears up to launch stock, commodity futures in three years.

News of the day

Indian retailers' earnings to come under pressure: Macquarie
A stuttering GDP growth and high-base effect are likely to push same store sales (SSS) growth and profitability of Indian retailers in the red zone for the January-March 2009 quarter, research firm, Macquarie, said.
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CBI team back from Mauritius

Meanwhile, a second chargesheet in the multi-crore Satyam scam will be filed soon, as the CBI team probing the case has returned from Mauritius with some bank details from the island nation. - This number does not exist - CBI likely to seek govt nod for Sibal probe - Satyam scam: CBI team back from Mauritius, 2nd chargesheet soon - CBI seeks govt nod for full probe on Sibal - Raja-telcos meet tomorrow; CBI probe, 3G may figure - SFIO asked to stop Satyam probe to avoid duplication The CBI team had gone to probe the alleged diversion of funds by disgraced Satyam founder B Ramalinga Raju to the country for further re-routing back in India to the fictitious companies set up by the accused, official sources said. Funds were re-routed back to India via European countries as "investments" in nearly 300 alleged fictitious companies floated in the name of his relatives, they said. The CBI found that Raju diverted big amounts to Mauritius from where the money was brought back to India.


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