Indian region moved to Australia when splitted 100 mln years ago

The present size and form of Indian Ocean came into being after parts of the Indian region shifted back to the Australian plates during Gondwana split more than 100 million years ago, a new research claimed.

An Australian scientist, Ana Gibbson who collaborated with Indian National Institute of Oceanography and Australian National university show that after the continental split, some Indian regions moved back to the Australian plate. Roughly the size of Tasmania, they remained sunk in the seafloor roughly 500-1000 kilometers from the western coast of Australia.

“It’s a bit like doing a really big 3D jigsaw puzzle,” she said. Using the magnetic data from the seafloor provided by the institutes, she has been able to reconstruct the movement of the tectonic plates.

Her findings are giving scientists new insights into the age and nature of Australia’s western margins. Ana attributed the success of the project to its international reach. She said, “being able to work with open-minded, enthusiastic professionals from all over the world has helped a lot. The study has been supported by Australia-India Strategic Research Fund, a statement said.

Source: http://www.indianexpress.com/news/indian-region-moved-to-australia-when-splitted-100-mln-years-ago/1073524/

Enter the Web of Retail Trading in Physical Bullion

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If your sole purpose is investment or even trading, you can also sell your holding using the platform without getting it delivered to you.

Though the platform does not charge any brokerage, it will retain 1% of profit booked by a user towards payment of value-added tax.

Source Info:  http://businesstoday.intoday.in/story/online-trading-platform-to-trade-in-gold-and-silver/1/190112.html

India in a bind over New WTO Chief

NEW DELHI: The Indian government is in a bind over who it should support for the top job at the World Trade Organizationthat is to be decided by the end of May, reflecting the familiar dilemma over crucial assignments at international bodies.

There are nine candidates in the fray, and officials in the commerce ministry seemed unclear over whom to back given that the government will have a tough time choosing between a BRICs representative and a candidate from Asean, apart from a Muslim woman from Africa, who is also in the race for the post of WTO director general’s post that falls vacant on August 31 when Pascal Lamy is due to step down.

Brazil has nominated its ambassador to WTO Roberto Carvalho de Azevedo as its candidate for the job, while Indonesia’s former trade minister Mari Elka Pangestu is also among the nine who have filed their nominations.

Kenyan diplomat Amina C Mohamed is seen to be ahead in the race although former Ghana minister Alan Kyerematen is the other candidate from Africa. “We are internally discussing the candidates, although it is going to be a tough call. Over the next few weeks we will be in a better position to decide,” an official said.

As far as the other candidates are concerned, in the Indian government’s scheme of things, former New Zealand trade and climate change minister Tim Groser, Mexico’s Herminio Blanco, South Korea’s Taeho Bark and Costa Rica’s Anabel Gonzalez rank lower.

Officials and trade experts said New Zealand has already sent a DG to WTO in Mike Moore. Similarly, the Koreans are seen to be heading several international organizations, including theWorld Bank. With Angel Gurria heading Paris-based OECD, often dubbed as the rich countries’ think tank, Blanco too is seen to have a slim chance.

What weakens the case for Pangestu and Jordan’s Ahmad Thougan Hindawi is the fact that another Asian, Thailand’s Supachai Panitchpakdi, was Lamy’s predecessor at the WTO. While nominations for appointing Lamy’s successor closed on December 31, a replacement has to be found by May 31. As is the norm, the decision will be taken by consensus, with the US and theEuropean Union expected to play a key role.

This time, the appointment is seen to be even more crucial given that there is going to be renewed thrust from the US to conclude the talks, especially with a narrower agenda.

There are nine candidates in the fray,.. the govt will have a tough time choosing between a BRICs representative and a candidate from Asean, apart from a Muslim woman from Africa.

Source Info: http://timesofindia.indiatimes.com/business/india-business/India-in-a-bind-over-new-WTO-chief/articleshow/18011522.cms