RED CARPET WELCOME BY OBAMA AWAITS MANMOHAN SINGH

A red carpet welcome awaits Prime Minister Manmohan Singh as he lands at the Andrews Air Force Base on Sunday as the first state guest of President Barack Obama for a visit that is expected to take the Indo-US strategic relationship to the next level.

The Prime Minister, his wife Gursharan Kaur, and his delegation would be welcomed by a group of children and the Indian American community, before he drives to the Willard Intercontinental Hotel, three blocks away from White House.

PTI/Livemint

INDIAN PREMIER’S 100-DAY STOCK RALLY BEST SINCE 1991

Indian stocks rose more in the first 100 days of Prime Minister Manmohan Singh’s leadership than under any new government since 1991. Investors predict more gains as he opens up the world’s second-fastest growing economy.

The Bombay Stock Exchange’s Sensitive Index climbed 16 percent since Singh started a second term on May 22 as international investors bought $4.9 billion more shares than they sold, data compiled by the bourse show. The advance is the biggest since the 40 percent rally after Prime Minister P.V. Narasimha Rao came to power, and compares with the 8.4 percent increase for the Standard & Poor’s 500 in the first 100 days of U.S. President Barack Obama’s administration.

Bloomberg

Brown pledges $1.6 bn for India's development

British Prime Minister Gordon Brown pledged US$1.6 billion (euro1.1 billion) for development programs in India ahead of talks Monday with Prime Minister Manmohan Singh and President Pratibha Patil on building stronger financial ties. Brown is visiting New Delhi with a large delegation of British business leaders after spending two days in China, on his first trip to Asia as prime minister.

The Economic Times
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