Apache to buy Oswals’ stake in Burrup Fertilisers

0 Comments read Business and Trade

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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Textile & handicraft, the untapped trade potential Down Under

0 Comments read Business and Trade

By Neena Bhandari

Sydney, 25.11.2011 (Business Standard): Australia is emerging as an important market for Indian textiles and handicrafts. To capitalise on this untapped bilateral trade potential, as many as 60 Indian businesses showcased some of the finest wares at the three-day Australian International Sourcing Fair held from November 22-24 at the Sydney Convention and Exhibition Centre here.

“Brand India’s aim is to introduce or re-acquaint the Australian textile, fashion and design industry to what India has to offer in terms of creativity, quality, variety, flexibility and timeliness,” said Siddhartha Rajagopal, executive director, The Cotton Textiles Export Promotion Council of India (TEXPROCIL).

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