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Rupee-rouble pact may fund Russian investments in India

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  • Rupee-rouble pact may fund Russian investments in India

    RUSSIAN president Vladimir Putin said on Thursday his government is favourably disposed towards financing of investments by Russian companies in India by utilising the money under the rupeerouble debt agreement.

    Detailed discussions in this context would open new vistas of cooperation by using the funds available under the agreement, Mr Putin told CEOs from India and Russia at an interactive session organised by CII, Ficci and Assocham.

    Mr Putin said there were promising prospects for cooperation between the two countries for enhancing India's nuclear plant capacity and expressed interest in expanding cooperation in oil exploration, production and supply.

    As against the current 20% growth in bilateral trade, the Russian president said Russia-India trade would have to grow by 30% if the $10-billion two-way trade between the two countries was to be achieved by 2010.

    Mr Putin was of the view that the Indian government needs to relook the issue of illegal migrants. The Russian president pointed out that Russia had signed an agreement last year with the European Union to liberalise the visa regime, while also signing an agreement for readmission of illegal migrants or those who overstay their visa limits.

    He asked the Indian industry to put pressure on the government to sign a similar agreement. He was reacting to concerns raised by the Indian CEOs about difficulties faced in obtaining visas to Russia and the suggestion that multiple-entry visas be facilitated.

    Reacting to a question raised by an Indian diamond industry representative about allowing direct imports of Russian diamonds instead of being routed through Israel and Belgium , Mr Putin said the Russian government passed a law early this month allowing Alrosa, the Russian mining consortium, to export rough diamonds to parties other than De Beers as has been the case so far.

    Pointing out that efforts to increase the volume of trade were deterred by high transportation cost, Mr Putin said these could be sorted out through mutual discussions. He added that the Russian government was studying the possibility of increasing capacities at its ports.
    http://economictimes.indiatimes.com/...ow/1478676.cms
    Wow, taking on Wall Street and London is one thing, but taking on De Beers that would be quite an accomplishment. So if the De Beers cut is taken out of the diamond business, does the price go down 30% or 50%? Now if my d0llar buys me more diamond, is that a stronger d0llar or a weaker d0llar.
    "Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one."
    - Charles Mackay

  • #2
    Re: Rupee-rouble pact may fund Russian investments in India

    i wish diamonds were a bigger part of my budget than healthcare, heating, electricity, transportation, food and tuitions. i really do.

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    • #3
      Re: Rupee-rouble pact may fund Russian investments in India

      Originally posted by jk
      i wish diamonds were a bigger part of my budget than healthcare, heating, electricity, transportation, food and tuitions. i really do.
      All part of a new theme that these pesky rooskies seem to be pedalling lately, maybe they'll have a commercial during the Super Bowl so all us highly informed westerners can take part in it. Putin has a new marketing campaign that he's calling "Market Direct." Maybe Putin read Michael Dell's book, "Direct from Dell", I'm not sure but it doesn't look like it's coming out of Madison Avenue.

      Let's add up what Russia is doing. Oil exports are soaring out of Free Ports, meaning ports that can charge whatever currency they want in exchange for crude. Looks like springtime comes early this year so exports out of the Baltic and out of Sakhalin II are going to really pick up pretty soon. The word the Russian keep using is "double" out of these ports. Baltic had 60 million tons of crude ship last year and they're talking about 110 million tons this year. I would imagine this leads to shutting down the 1.6mbpd d0llar based pipeline that flows through Poland.

      Russia announces they're thinking about forming a Natural Gas Cartel, can you imagine such a thing? These commie's and their cartel's, you'd think they'd get unboard with the Free Market we've got here. Now Europe can either wait for the Cartel or sign longterm independent contracts with Russian suppliers for natural gas today. Now what currency do you suppose longterm independent contracts are written in?

      Russia taking on the Seven Sisters I can understand, but Russia being able to take on De Beers, I didn't think Russia had that much clout to be able to do that. It's going to be interesting to see which commodity Russia takes Market Direct next.
      "Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one."
      - Charles Mackay

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      • #4
        Re: Rupee-rouble pact may fund Russian investments in India

        Originally posted by jk
        i wish diamonds were a bigger part of my budget than healthcare, heating, electricity, transportation, food and tuitions. i really do.
        the biggest problem with diamond investing as i see it is manufactured diamonds. You can't make silver and gold, you can only mine it, but there are diamond manufacturing processes. The manufactured diamonds are still expensive but not as expensive as mined diamonds controlled by monopoly cartels and mafiosos.

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        • #5
          Re: Rupee-rouble pact may fund Russian investments in India

          Originally posted by DemonD
          the biggest problem with diamond investing as i see it is manufactured diamonds. You can't make silver and gold, you can only mine it, but there are diamond manufacturing processes. The manufactured diamonds are still expensive but not as expensive as mined diamonds controlled by monopoly cartels and mafiosos.
          I think the biggest problems with diamonds is the brainwashing that has taken place (I can only speak to Americans) as to their representation as something truly important in presumed or real love-relationships. It is total bullshit as I see the reality of meaningful things in relationships, and yes, I bought my wife a diamond engagement ring (actually two wives), one because at the time, age 26, I was brainwashed, and second because I was brow-beaten into doing it once again and for last time. Valentines is coming up and since one's day-to-day actions might have failed to convince whoever it is one loves since Christmas, one better beat it to the jewellers and make up for being an asshole by buying another diamond something-or-other. Every time I see a DeBeers diamond advertisement for diamonds, if I haven't been quick enough to mute it, I have to go vomit.
          Jim 69 y/o

          "...Texans...the lowest form of white man there is." Robert Duvall, as Al Sieber, in "Geronimo." (see "Location" for examples.)

          Dedicated to the idea that all people deserve a chance for a healthy productive life. B&M Gates Fdn.

          Good judgement comes from experience; experience comes from bad judgement. Unknown.

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