NEW DELHI (AP) — India’s trade minister on Friday criticized some European governments that oppose Mittal Steel’s bid for rival steel maker Arcelor and warned that their stance could derail continuing global trade talks. Last month, Mittal Steel Co. — the world’s largest steel maker run by Indian-born Lakshi N. Mittal — made an unsolicited bid to buy out European steel maker Arcelor SA, sparking sharp reaction from European officials — with some saying the two companies are ill-matched because of different corporate cultures and values. The governments of Luxembourg and Spain have opposed the euro18.6 billion ($22.5 billion) bid, while several top French officials have criticized the deal, raising fears of job losses in France and elsewhere on the continent. Commerce and Industry Minister Kamal Nath said Friday that the Indian government was concerned over the comments made by European officials. “The government of India is very concerned. We are seeing this with a sense of disappointment,” Nath told The Associated Press. Nath said the Mittal-Arcelor row come at a time when the World Trade Organization is debating liberalization of services trade — an area of vital interest to European companies. The EU is pushing WTO member nations to offer “national treatment” to foreign companies investing the services sector. “If the color of the shareholder, the nationality of the shareholder, or the passport of the shareholder is to be looked at, then we will have to give new definitions to national treatment,” Nath said. He said if the French and the Spanish persisted with their stance on the Mittal-Arcelor issue, it could derail ongoing WTO negotiations, which seek to bring a new global trade treaty by the end of this year.

airbus must be getting its undies in a knot…

M. Nam

Quite true, and its not just pharma itself but the pharma-machinery industry is growing. To the best of my knowledge these are just containers that mix stuff, coat pills with sugar etc. There is nothing high-tech about these but the manufacturing process has to be approved by USFDA. (even the mixing bowl has pass some sort of inspection). I saw this in Gujarat. So, US State Department may have blocked `dear leader’ Narendra Modi from coming to USA but US Food and drug administration is frequenting his town.

A company (Rediff) whose financial data is not properly available on EDGAR online or anyother place and has almost trippled in 6 months is something one must stay away from. Looks like BAIDUto me but without profits.

This company was mentioned by epileptic Jim Cramer on his show “Mad Money”, (I was watching a recorded version). The ticker below the screen was updating the REDF which went up by 3-4+ $ by the time the show ended. Jim Cramer described rediff.com as a portal to millions and millions of Indian. .