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7-8% yield not dangerous: Chakrabarty
Current market fluctuations in bonds yields were not dangerous, and a 10-year yield of 7-8 per cent was not uncomfortable, Reserve Bank of India (RBI) Deputy Governor K C Chakrabarty said today.

When I'm CM
West Bengal’s assembly elections may be due only in early 2011, but that’s not stopping Trinamool Congress chief Mamata Banerjee from preparing to become the state’s next chief minister. She has assigned two economists the task of preparing a blueprint for the economic revival of the state. Both economists are frequent contributors to various newspapers and are known to be votaries of free enterprise.

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Elgin-2 mill revival hopes rekindled
Kanpur’s oldest Elgin textile mill is set for revival after reopening of JK Mills last November.
International Business

Northrop keen to nurture Indian partnerships

Even though the field trials are on for Indian Air Force’s medium multi-role combat aircraft (MMRCA) project, Northrop Grumman, the US based defence and electronic equipment supplier is keen to nurture its partnership with Bangalore-based Bharat Electronics Limited (BEL) and Dynamatic Technologies. Northrop Grumman manufactures the active electronically steered array (AESA) airborne radars which sit on the F-16 super viper aircraft of Lockheed Martin, which is competing for the Indian Air Force’s MMRCA programme. - Outside the bun - Wal-Mart to continue sourcing from India - Cricket may have roots in Belgium - CBI begins probe into copter crash, visits Nallamala forests - IAF copters carry out flood relief operation in Bengal - Too many debits “We have done some business with Dynamatic and BEL for some other projects. We have identified them as potential partners for us in India. It’s really a matter of determining what we can do for them and what they can do for us,” Dave Wallace, Capture Lead, F-16IN Radar said. To a question whether the Indian partners would manufacture the AESA radars in case the F-16IN got through the bidding process, Wallace said, the partnership was conceptual and, “the discussions are petty sensitive right now”. US-headquartered aerospace supplier Lockheed Martin is one of the six bidding companies who have offered their aircraft for the MMRCA project. The field trials and technical evaluation of the six aircraft that have bid for the programme including the Saab Gripen, Eurofighter Typhoon, Dassault Rafale, Mikoyan MiG-35 and the American F-16IN is going on in Bangalore. The defence ministry has allocated about Rs 42,000 crore for the procurement of 126 multi-role combat aircraft to strengthen the IAF fighter fleet. Northrop Grumman has already selected BEL and Dynamatic Technologies to manufacture components of the F-16 APG-68(V)9 fire control radar as part of a broader initiative to engage Indian industry as strategic business partners. “Following an extensive evaluation of the Indian defense electronic manufacturing base, we feel that these two companies are best positioned to offer the depth of capability required to meet our customers’ demanding cost, schedule, and quality standards,” Katie Gray, vice president of Northrop Grumman’s Global Sensor Solutions business unit had told earlier.


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