Thursday, February 11, 2010

India-Pak agree on roadmap to resolve water disputes

Lahore, Feb.11 (ANI): In order to resolve the long pending water issues between them, India and Pakistan have agreed on a ‘roadmap’ and decided to hold two additional meetings, besides a routine meeting due in May, over the next six months.

Pakistan’s Indus Commissioner Syed Jamaat Ali Shah said the two sides have decided to hold one of the additional meetings by the end of March, and the other by the end of June to expedite the pace of deliberations to end the dispute.

“The decision is the biggest achievement made during five days of deliberations,” The Dawn quoted Shah, as saying.

The decision was taken on the last of a five-day visit of a three-member Indian delegation.

The three-member Indian team of Permanent Commission on Indus Waters (PCIW) headed by Auranga Nathan inspected the Sutlej, Ravi and Bias river sites.

Shah said the Indian delegation had agreed that settlement of all water disputes must be time-bound because open-ended talks were counter-productive and gave rise to confusion and frustration.

Later, talking to reporters at the Lahore airport before leaving for India, Nathan rejected the notion that the water dispute between India and Pakistan could lead to war.

“After all the two countries have signed an international treaty which includes elaborate dispute resolution mechanism. They not only committed to the treaty provisions but also regularly invoke different provisions to resolve disputes. Under such circumstances, there was hardly any chance of war between Pakistan and India on water issues,” Nathan said. (ANI)

Wednesday, February 10, 2010

PayPal's India transaction block could last months

San Francisco, Feb 10 (AP) Online payments service PayPal says its suspension of certain transactions in India could last months.

In a post on PayPal's blog yesterday, spokesman Anuj Nayar wrote that the company will keep blocking personal payments to and from India as it works out questions that Indian regulators have posed.

The payments were initially suspended January 28, after regulators questioned whether PayPal payments should be regulated like wire transfers of cash.

However, local bank withdrawals, which had also been suspended, should be available within a few days, Nayar said.

The size of PayPal's India business is not publicly disclosed, but it appears to be relatively small. In 2008, USD4 billion of PayPal's USD60 billion in transactions came from the region it defines as Asia, and the vast majority was from Australia, PayPal's fourth-largest market.

PayPal is part of eBay Inc.