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India, Russia sign 16 agreements across multiple sectors
India and Russia on Saturday signed 16 agreements across multiple sectors following delegation-level talks co-chairedd by Prime Minister Narendra Modi and Russian President Vladimir Putin.
 
"New horizons in the #IndiaRussia partnership. PM & Prez Putin witness exchange of 16 agreements and 3 announcements across fields," External Affairs Ministry spokesperson Vikas Swarup tweeted following the 17th annual bilateral summit between the two countries.
 
Among the agreements signed were procurement of the S-400 air defence system and construction of 1135 series of frigates in India.
 
Another agreement was signed to set up a joint venture to manufacture helicopters. 
 
A memorandum of understanding (MoU) was signed for setting up an investment fund of $1 billion.
 
Agreements were also signed for developing smart cities in Andhra Pradesh and Haryana, and for developing transport logistics systems for such cities.
 
Another important agreement was signed for the joint study of a gas pipeline to India from Russia.
 
According to separate agreement, a Russian consortium comprising energy giant Rosneft Oil Company, commodities trader Trafigura and private investment group United Capital Partners agreed to purchase 98 percent of Essar Oil for $10.9 billion. 
 
Rosneft also signed an agreement with ONGC Videsh for education and training in the oil and gas sector.
 
Both sides agreed to extend cooperation in railways development and to increase the speed of trains between Nagpur and Secunderabad.
 
An MoU was signed between India's ISRO and the Russian state space agency on collaboration in space technology.
 
An agreement was signed on cooperation on international information security.
 
Another MoU was signed for expansion of bilateral trade and economic cooperation between India and Russia.
 
A road map for celebrating 70 years of India-Russia diplomatic ties was also announced.
 
Another announcement pertained to cooperation between the two countries on international issues.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Four arrested, Rs 200-cr snake venom seized in Bengal
Acting on a tip-off, forest officials arrested four persons and seized five containers of snake venom worth Rs 200 crore from Phulbari area of North Bengal's Jalpaiguri district, an official said on Saturday.
 
"Four persons were arrested and five bullet-proof containers of snake venom worth Rs 200 crore were seized. We also recovered some ammunition and one revolver," said Sanjay Dutta, Range Officer, Belakoba Range of Baikunthapur Forest Division.
 
The accused -- Sujoy Kumar Das, Bipul Sarkar and Pintu Banerjee, of South Dinajpur district, and Amal Nubia from Malda district of West Bengal -- were produced at a district court on Saturday, the official said.
 
Accused persons are said to be part of an international smuggling racket.
 
"We had information that some containers of snake venom made in France would be coming through Bangladesh. We kept on tracking it," Dutta said.
 
Later, they came to know that five containers with snake venom had been transported to Siliguri.
 
"Accordingly, we have laid a trap and caught them pretending as buyers," he added.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
  

 

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BSE off-loads 4.15% stake in CDSL
Stock exchange major BSE on Friday said that it has raised Rs 34.23 crore by off-loading a 4.15 percent stake in Central Depositor Services India (CDSL).
 
"BSE concluded sale of 43,36,750 shares amounting to 4.15% of CDSL stake of Rs 78.93 per share aggregating to Rs 34.23 crore on October 14, 2016," the stock exchange major said in a statement.
 
"BSE will hold 50.05% shares of CDSL post this transaction."
 
Other promoters of CDSL are Bank of India, Bank of Baroda, State Bank of India, HDFC Bank, Standard Chartered Bank, Canara Bank, Union Bank of India, Bank of Maharashtra and the Calcutta Stock Exchange Limited.
 
CDSL was initially promoted by BSE which has thereafter divested its stake to leading banks as "Sponsors" of CDSL.
 
CDSL was set up with the objective of providing convenient, dependable and secure depository services at affordable cost to all market participants.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
  

 

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