HEADLINES

• Finance Ministry gives is consent to the Cabinet note on 51% FDI in the retail sector
• Aviation Ministry for opening FDI route to foreign airlines by permitting 24% FDI in Indian carriers
• Jairam Ramesh targets Mayawati again for note acting against officials who had swindled funds of the MGNREGS
• BJP MPs get bail in the cash for vote scam; Delhi High Court acknowledges that their role was limited to the sting operation

NATIONAL NEWS

• No scope for change in nuclear liability regime, India to tell US
  • Since the adoption of the Civil Liability for Nuclear Damage Act by Parliament in August 2010 the US Govt has been pushing that the Indian legislation conform to International Conventions which are more lenient for suppliers of nuclear equipment;
  • India has notified certain rules to ease the provision for the suppliers but it is likely that the US suppliers will still not be happy. The new rules open a window for suppliers to limit their liability only to accidents that occur during the first 5 years. However, the Indian Govt is unlikely to relent anymore especially with the Fukushima incident still fresh in minds;
  • India is likely to pass on this message to US at the meetings of their heads at the ASEAN at Indonesia.
• Ties with Beijing no longer guided by border issue alone, says the Indian officials
  • India is not disturbed by the reports coming out of China that India is building its military at the border as the Indian officials feel that India-China relations are no longer guided by the border issue alone. This statement comes at a time when PM Singh and the Chinese Premier are meeting at the ASEAN Summit in Bali, Indonesia.
• IAF to activate advanced landing ground in Arunachal Pradesh today
  • The IAF is opening an improved and expanded advance landing ground at Vijaynagar in Arunachal as part of its plan to improve infra close to the border with China;
  • The airstrip was part of 1962 operations against China but was closed in 2009 due to poor conditions of the runway. It is now being renovated along with other airstrips in the area.

INTERNATIONAL NEWS

• China calls for dialogue on India's NSG entry
  • In light of Australia's call to supply Uranium to India, China has called for all states consultation before India is included in the NSG. This comes at a time when China is going to supply Pakistan with civil nuclear cooperation in contravention of the NSG Guidelines;
  • China takes the view that India not being signatory of the NPT cannot receive civil nuclear material from NSG countries. However, India operates under the waiver it has received from the US subject to various commitments directly agreed by India;
  • China is in the process of setting up 2 nuclear plants in Pakistan in 2009 in contravention of the NSG guidelines. China says that the expansion of the NSG should be only after the current group takes into consideration the conditions of candidate countries.
• The UNESO-Madanjeet Singh peace Prize
  • The prize was set up in 1995 by diplomat Madanjeet Singh to mark the 125th birth anniversary of Mahatma Gandhi. It is given every year to individuals/institutions for outstanding contribution to promotion of tolerance & non-violence. The prize is dedicated to advancing the spirit of tolerance in the arts, education, culture, science and communication;
  • This year's prize went to Afghan women's rights campaigner Naarkali Honaryar and Palestinian peace activist Khaled Abu Awwad. The prize is USD 1,00,000;
  • Ms. Aung San Suu Kyi was awarded the prize in 2002 but was only able to receive the award amount this year as the Myanmar Govt had earlier not permitted it.
• Space mission a success says China
  • China's mission to achieve the first ever docking exercise in space (part of its plan to build its own space station) was a complete success as the Shenzhou-8 returned after a month;
  • The Shenzhou-8 rendezvoused and docked with the Tiangong-1 space laboratory module. China is the only country after US and Russia (30 years ago) to carry out a doking in space;
  • China will launch 3 more spacecrafts in the next year with at least 1 being a manned mission. China plans to have its own manned space station by 2020.
• Jupiter's moon Europa could foster life
  • in 1610, Galileo Galilei had discovered 4 main moons of Jupiter – Io, Europa, Ganymede, Callisto. As of today jupiter has 64 confirmed moons. New research suggests that an ocean of water is just beneath the icy shell of Europa and it might support life as fracturs on the surface suggest warmer water which could give access to organic compounds to light.

EDITORIALS, OPINIONS & COLUMNS

• Read this editorial on the recently tested nuclear capable missle, Agni-IV
• Here is a very good article on the required health care reforms in India
• Read this editorial about the proposals being considered by the Planning Commission for providing health care to all citizens

ECONOMY & BUSINESS NEWS

• FII investment cap in Government Securities (G-sec) hiked
  • ITO enhance capital flow and increase the availability of resources for Indian Corporates, the Finance Ministry increased the investment limit for foreign institutional investors from USD 10 billion in G-sec and 15 billion in corporate bonds to 15 billion in G-sec and 20 billion in corporate bonds. The cap acts as a ceiling on amount and applies to all FII investments in the country.
• Cabinet secy to head committee to look into overseas acquisitions by state run firms