The United States named a new special envoy to Syria, the third since the war began four years ago, as Washington seeks a political solution to the conflict.
Michael Ratney, an Arabic speaker who served as US Consul General in Jerusalem, and as a diplomat in Iraq, Lebanon, Morocco and Qatar, replaces Daniel Rubinstein.
WTO Formally Accepts Kazakhstan as New Member
The World Trade Organization formally accepted Kazakhstan's bid to join the body, ending nearly two decades of negotiations that the WTO has called among the most difficult in its history.
Kazakhstan began WTO accession talks in 1996, but negotiations were repeatedly stalled, in part because of Kazakhstan's membership in the Russia-led Eurasia Economic Union.
The fifth-largest software exporter Tech Mahindra reported a 7.2 percent growth in June quarter with net profit at Rs. 676 crore, helped by forex gains flowing from depreciation of the rupee.
Mahindra Group's revenue rose 22.9 percent to Rs. 6294 crore while pre-tax profit rose a marginal 0.8 percent to Rs. 936 crore.
It reported a forex gain of USD 14.7 million as against USD 11.7 million a year ago and forex losses of USD 25 million in the preceding quarter.
Rajesh Exports Acquires Valcambi
Indian gold jewellery major Rajesh Exports Ltd. (REL) announced the acquisition of Valcambi, the world’s largest integrated precious metals refiner in an all-cash deal of $400 million to gain access to raw materials at lower prices.
As per a statement from REL, Valcambi generated revenues in excess of $38 billion and operating profit of $33 million (Rs.205 crore) by refining and selling 945 tonnes of gold and 325 tonnes of silver on an average a year for the past three years.
According to the MD of REL, the consistent supply of raw material is a big issue. With this acquisition, there will be smooth supplies at lower prices.
With this acquisition, the company will upgrade and expand its existing refinery at Rudrapur in Uttarkhand and manufacturing unit in Bengaluru, while it would also look at venturing into gold mining in the next 2-3 years.
India's former President APJ Abdul Kalam passed away following a massive cardiac arrest while delivering a lecture at the Indian Institute of Management in Shillong.
Born on October 15 1931 in Rameswaram, Avul Pakir Jainulabdeen Abdul Kalam made his mark as one of India's top space scientists before taking over as the 11th President of India from 2002 to 2007.
Kalam was a recipient of India's highest civilian honour Bhart Ratna.
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