The Indian Express World News Page

Indian Express World News Page

The Indian Express

The Financial Express

Latest News

World News

Union Budget

EIW

Market Indicators

Screen

Celebrity Chat

Express Computers

Advertisers Forum

Career India

Business Forum

Match Maker

Express Properties

Travel & Tourism

Information Technology

Astrosurf

Eco-India

Dr Know

Graffiti

Crossword

Drumbeat: Ad Buzzaar

Politics	Business	Expressions	General
World	Sports	Leisure	States

Saturday, May 23, 1998

	US, India rebuild contacts, promise to keep in touch The United States and India began the delicate task of reconstructing strained ties with the first official contact between the two sides in the aftermath of last week's nuclear tests. The Indian envoy conveyed to the American side, New Delhi's unilateral decision on adopting a nuclear test moratorium. The two sides also discussed their common desire to keep things from hotting up on the India-Pakistan front.		S&P affirms country rating but downgrades outlook Standard & Poor's (S&P) has affirmed India's long-term foreign currency issuer credit rating of BB+ and its local currency issuer credit rating of BBB+, while changing the outlook on both ratings to negative from stable. It is felt that the downgrading of the country's foreign-currency rating outlook may see a further slide in the rupee vis-a-vis the dollar and selling pressure by FIIs.
	Clinton urged to cancel China trip More than 150 members of Congress has demanded that President Bill Clinton cancel his June trip to China in the wake of allegations that Washington exported sensitive missile technology to Beijing. The action has come amid a furor over reports the Clinton administration overruled the US Defense and State Departments by easing satellite exports to China in 1996.		Habibie dumps Suharto's daughter New Indonesian President Bacharuddin Jusuf Habibie has retained Defense Minister General Wiranto amid reports that the four-star officer played a key role in convincing former ruler Suharto to resign. In an apparent bid to broaden his support and dispel the image of being a weak transitional leader, Habibie excluded a daughter and a key crony of Suharto and brought non-members of the ruling Golkar Party and military into the Cabinet.

Talibans blames UN for failure of talks
Talibans have blamed the UN for the breakdown of recent intra-Afghan peace talks, accusing it of being "partial" in favour of the rival Northern Alliance. UN has been accused for not publicising the original records of the talks in which the Talibans made a number concessions.

Seagram to buy PolyGram for $10.6 bn; to spin off Tropicana juice business
Seagram Co has agreed to buy PolyGram NV for $10.6 billion. The deal makes the Canadian drinks and entertainment company numero uno in the global music industry with acts like U2 and Elton John. Montreal-based Seagram also plans to spin off its Tropicana fruit-juice business and that it was looking to sell Polygram's filmed-entertainment unit.

Globe Trotting
Gun toting kid kills schoolmate, wounds 23 in US
N-Ireland votes on Belfast peace accord
Egypt in a frenzy over ban on impotence drug Viagra
World Vignettes
Today's the day
The killing class
Sharon puts the shine into Cannes
People
China gets tough; mulls anti-dumping measures for steel imports
Japan wheat market comes under pressure
South African gold mine hogs limelight
Asia-Pacific markets hit by profit-taking
Slowdown in growth mounts pressure on China to cut rates
US justice department opposes American, British Airways deal
World Briefing
Habibie unveils clean, "reform" cabinet
Marriott International to scrap dual stock classes
Senate rejects legal cap for tobacco firms
Ericsson eyes Silicon Valley
African Development Bank bounces back to life