Sensex snaps 2-week losing streak

IIFL Head of Research Amar Ambani said,“A strong bout of short-covering,coupled with a world-wide relief rally lifted the spirits in the Indian markets.” The BSE benchmark Sensex resumed higher at 17,925.17 but declined immediately to a 4-month low to 17,314.38 triggered by panic selling across-the-spectrum due to speculation over the revision of double tax avoidance treaty with Mauritius.

However,it recovered sharply to 18,268.95 before ending the week at 18,240.68 due to fag-end buying from operators and investors in view of sharp fall in crude oil prices. Crude oil prices fell after International Energy Agency decided to release 60 million barrels of crude,giving global economy relief from high energy costs. The New York crude oil tumbled nearly 5.0 per cent to about $90 a barrel,while Brent Crude plunged $7 to about $107.

The Executive Committee meeting was attended by China’s Minister,National Population and Family Planning Commission Li Bin and Bangladesh Minister of Health and Family Welfare A F Ruhal Haque,among others.

During the meeting,India’s role in expanding South-to-South cooperation was highlighted and the initiative of getting a management and financial audit to identify the gaps and challenges in the management,implementation and budgeting processes was also welcomed by the Board. In addition to the joining of three new member countries,the activities of PPD have seen a substantial increase,whereby a large number of training programmes have been conducted in various countries to build up capacity of the professionals working in the fields of population and reproductive health.

The Executive Committee also discussed and adopted the agenda for the international conference being held at Pretoria,South Africa from October 31 to November 4,2011 on the subject of “Population Dynamics,Climate Change and Sustainable Development”.

PPD was launched in 1994 following the International Conference on Population and Development (ICPD).

Over the years,PPD’s membership has increased from 10 to 25 developing countries covering more than 57 per cent of the total world population.

The PPD member countries now are: India,China,Bangladesh,Indonesia,Pakistan,Thailand,Vietnam,Colombia,Mexico,Egypt,Morocco,Tunisia,Yemen,Jordan,Ethiopia,The Gambia,Ghana,Kenya,Mali,Uganda,Benin,Senegal,Zimbabwe,

South Africa and Nigeria.