Monday, October 21, 2013

Asia This Day:Indian Prime Minister Departs for Russia,China

Indian Prime Minister Manmohan Singh has embarked on a five day journey to Russia and China.While in China,he will be discussing the Border Defence Cooperation Agreement the two countries have been negotiating to avoid clashes over extensive sections of their 4,000 kilometer border.Mr.Singh will also attempt to improve trade with both Russia and China,including energy and defence projects.*
The scope of our relationship with Russia is unique,the Prime Minister said,encompassing strong and growing cooperation in areas such as defence,nuclear energy,science and technology,hydrocarbons,trade and investment.*
India and China have historical issues and there are areas of concern,Mr.Singh continued.The two governments are addressing them with sincerity and maturity,without letting them affect the overall atmosphere of friendship and cooperation.I will be discussing some of these issues as part of strategic communication between leaders with a forward-looking and problem-solving approach.*
Besides arms purchases from Russia,while in Moscow he will also discuss completion of a nuclear reactor Russia has been building on India's southern coast that has caused safety concerns.*
In April,Indian and Chinese troops faced off for three weeks in a remote Himalayan desert region,when India accused Chinese soldiers of intruding 20 kilometers/12 miles into Indian territory.Another standoff occurred in August.*
China's Fosun International is buying 1 Chase Manhattan Plaza in New York City for 725 million dollars.It is the largest ever NYC purchase by a Chinese buyer.JP Morgan Chase will relocate most of its employees from the iconic 60 storey tower,which has 2.2 million square feet of office space,to other sites in the city.The US is China's number one choice for real estate investing;Canada is second.*
In golf,South Korean Jin Jeong won the European Tour's ISPS Handa Perth International in Australia Sunday,defeating England's Ross Fisher in a playoff.Australians Brody Ninyette and Dimitrios Papadatos,along with Englishman Danny Willett,tied for fifth place.*
JP Morgan Chase(JPM)

No comments: