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S. Asia free trade agreement comes into force

S. Asia free trade agreement comes into force The South Asian Association for Regional Cooperation (SAARC) Wednesday announced the formal enforcement of the South Asian Free Trade Area (SAFTA) agreement with effect from Jan. 1, 2006, state run Radio Nepal reported Thursday. The agreement on SAFTA was signed in Islamabad during the 12th SAARC summit in January 2004, and all the member states have since completed all formalities including ratification, the radio quoted a press statement released by SAARC Secretariat as saying. The entry into force of the agreement thus launched the SAFTA,

Wipro strengthening its presence in West Asia

Wipro strengthening its presence in West Asia Dubai: Indian information technology major Wipro is strengthening its presence in West Asian region as the market here is moving up the value chain, a company official said. Wipro's Vice-President of International Operations Rajat Mathur said the region forms a critical part in the company's global business strategy, news report said. Wipro sees great synergy in Indo-Gulf partnership, he said, adding in 2004-05 alone the company had year on year growth of 85 per cent in Asia Pacific and West Asian region. In the second quarter of 2005-06, the company had a

Asia shipping crude, gasoline, jet to US West Coast

Asia shipping crude, gasoline, jet to US West Coast Oil traders and refiners scrambled on Thursday to move prompt crude oil and product supplies from Asia to the U.S. West Coast, anticipating tighter markets with the closure of BPs massive Prudhoe Bay oilfield. The shipments, including at least one cargo out of South Korean storage that could be in California before the end of the month, gave fresh impetus to Middle East sour crude prices and regional jet fuel differentials, traders said. Independent U.S. refiner Tesoro Corp. (TSO.N: Quote, Profile, Research) booked the 80,000-tonne crude oil tanker Cape Avila from Oman

Middle East crude rises as Asia ships more oil to US

Middle East crude rises as Asia ships more oil to US Oil traders and refiners scrambled yesterday to move prompt crude oil and product supplies from Asia to the US West Coast, anticipating tighter markets with the closure of BPs massive Prudhoe Bay oilfield. The shipments gave more lift to Middle East sour crude prices and regional jet fuel differentials, traders said. US refiner Tesoro Corp booked the 80,000-tonne crude oil tanker Cape Avila from Oman to the West Coast in early September, shipbrokers said. More : gulfnews.com

Asia Cryo-Cell plans 2 overseas banks

Asia Cryo-Cell plans 2 overseas banks Asia Cryo-Cell Pvt Ltd, which provides cord blood stem cell banking service, has said it planned to set up two overseas banks for umbilical cord stem cells by June 2006. It was considering Sri Lanka, Malaysia or Dubai as candidate locations. The Chennai-based company, formed in November 2004, would soon set up a stem cell transplant facility in Chennai in collaboration with a teaching hospital there. The unnamed hospital would offer therapies based on umbilical cord blood stem cells for leukaemia, neurological disorders, spinal cord injuries, diabetes and heart attack, said S. Abhaya Kumar, Vice-Chairman and