Posts by Neena Bhandari

Warming up to Oz

0 Comments read Business and Trade

By Neena Bhandari

(Opinion piece in Business Standard): With the “uranium irritant” out of the way, the year ends on a promising note for Australia-India bilateral relationship, setting the momentum for deeper strategic, defence and economic ties.

Once the Julia Gillard Cabinet formally approves uranium sales early next year, negotiations will begin on a bilateral nuclear safeguards treaty. Analysts say it will help fast-track the free trade agreement negotiations between the two countries and also encourage Indian companies to invest in Australian uranium mines.

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Apache to buy Oswals’ stake in Burrup Fertilisers

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By Neena Bhandari

Sydney, 20.12.2011 (Business Standard): US oil and gas company Apache Corporation on Monday announced that it will acquire 65 per cent stake in Burrup Holdings Limited, parent company of Burrup Fertilisers Pvt Ltd (BFPL), one of the world’s largest liquid ammonia plant in Western Australia built by industrialist Pankaj Oswal.

Oswal owned 30 per cent of the shares in Burrup Holdings Limited and Radhika Oswal owned 35 per cent shares. The stake was put up for sale by receivers for the Australia and New Zealand (ANZ) Bank, which is trying to recover A$900m in loans.

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Australian ruling party okays uranium export to India

0 Comments read Business and Trade, Nuclear Disarmament

By Neena Bhandari

Sydney, 5.12.2011 (Business Standard): The ruling Australian Labor Party’s national conference on Sunday voted by a very narrow margin to overturn its long-standing policy banning uranium sales to India.

Till now, party policy dictated that uranium could only be sold to countries signatory to the Nuclear Non-proliferation Treaty (NPT), which has not. Prime Minister Julia Gillard urged delegates to support the motion, emphasising it would boost trade and enhance the bilateral relationship.

The PM’s motion was finally endorsed by a 206-185 split, revealing deep dissensions even among ministers in the Gillard government. So much so that when the chair ruled the motion passed, a recount was called, as many couldn’t believe the outcome.

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