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India slips to 7th position in Coffee production

India slipped to 7th position in the world Coffee production in 2011-12 from 6th in the previous year with a share of 4%. Brazil produced 33% of the world's coffee, followed by Vietnam (15.2%), Indonesia (6.3%) and Colombia (5.9 %). The Coffee Board has estimated 3,14,000 tons for the season in 2011-12, this includes 1,01,500

Vietnam offers ONGC Videsh Ltd contract for exploration in South China Sea

In order to sustain Indian presence in the hydrocarbon-rich South China Sea, Vietnam has decided to extend the contract for exploration of oil and gas resources in a significant oil block in the region to ONGC Videsh Ltd (OVL). OVL is thinking over to terminate operations in the 128 blocks as it could not start

India, Israel sign agreement to enhance bilateral relation in the Tourism Sector

India and Israel signed an MoU to promote the bilateral relation in the tourism sector. Israel, under this pact, will set up a tourism office in Mumbai and amplify the frequency of flights to India. Israel will invest $ 660000 to attract more Indian tourists to the country. The agreement also laid the foundation to

India set to become eighth largest shareholder in IMF

India is ready to become the 8th largest shareholder in the IMF after quota reforms which are expected to be finalized at the agency's annual meeting at Tokyo in October 2012. Once the quota reforms are put through, India's share at IMF will elevate to 2.75% from 2.44%. Presently India is at 11th position India

Government rejects Fitch ratings

Lashing out at global rating agencies for reducing credit outlook of Indian banks, the government held these bodies are fully capitalized and there is nothing to worry about them. Finance Minister Pranab ruled out the Fitch revision enunciating that the rating was based on "older data" as it disregarded recent positive trends. Fitch modified downward

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