Court whittles down powers of Telecom Regulatory Authority
The Delhi high court has whittled down considerably the powers of the Telecom Regulatory Authority of India (TRAI). The judgment set aside the regulator's recent orders invalidating the Department of Telecommunication's (DoT) Internet policy and Mahanagar Telephone Nigam's (MTNL) entry into cellular services.

India, Germany sign bilateral investment pact
India and Germany have signed a bilateral investment treaty to promote and protect investment from either country into the other. The core of agreement lies in its positive assertion of principles of Most Favoured Nation (MFN) and National Treatment.

BICP report on decontrolled fertilisers by month-end
The Bureau of Industrial Cost & Prices (BICP), which was appointed to determine the adequacy of concessions on decontrolled fertilisers, will submit its report to the ministry by July 31. BICP was to submit this report on July 15.

  Executive Briefing
  Senate moves to further ease sanctions against India, Pakistan
  America plans to buy domestic grain in a bid to stem slump in prices
  Diamond exports rise by 13.5%
  Argentina to shift from wheat to sunflower crop
  US house panel approves limited funding for IMF
  Shiv Sena union thwarts state bid to privatise Film City
  Enough fertiliser to meet demand -- Sompal
  Travel association changes tack, to target niche segments
  Global mobile phone war gets curiouser
  Hong Kong crippled by airport debacle
  Rs 120,000 crore needed to meet power requirements for next 5 years
  Steps initiated to meet new requirements of armed forces
  Collector is guardian of the public for excise justice