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Australian Government extends oil-for-food inquiry

Canberra, Mar 10: The Australian government today (Mar 10, 2006) extended an inquiry into whether monopoly wheat exporter AWB Ltd paid millions of dollars in kickbacks to Iraq, giving it an extra three months to take evidence.

The inquiry is examining whether the AWB broke any Australian laws over alleged payments of up to 2 million in kickbacks to the former Iraqi regime of Saddam Hussein under the UN oil-for-food programme.

The inquiry was due to end by March 31, but Attorney-General Philip Ruddock today said commissioner Terence Cole would now have until June 30 to complete his inquiry.

''The terms of reference have been amended in accordance with Mr Cole's request that he be given until the end of June to deliver his report,'' Ruddock said in a statement.

He said the government would also clarify Cole's terms of reference to avoid uncertainty about the scope of the inquiry, in line with a request from Cole yesterday.



Reuters

Silver, Gold rates fluctuate on Global bullish advice

Chennai, Mar 10: Following were the rates in the Chennai Bullion market today (Mar 10, 2006).Silver (per kg) Bar Rs 15,110 Silver (10 gms) Rs 161.50 24ct Gold (per 10 gms) Rs 8020 22ct Gold (per gm) Rs 743.UNI .....

India, Myanmar to evolve tactics to expand trade

Yangon, Mar 10: India and Myanmar have failed to achieve the bilateral target of one billion dollar, making it imperative for the two countries to evolve fresh strategies to take the trade volume from 425 million dollars to the required level 'in the shortest possible time'. A Joint Trade Committee, which was formed in July 2003, had proposed to raise the turnover to one billion dollar in three years. It is expected to meet in New Delhi in mid-2006 to examine the.....

After cars, it is the turn of CVs to revv up: Report

Mumbai, Mar 10: After passenger cars, it is the turn of commercial vehicles (CV) to witness actions on the domestic Automotive terrain.Lead international automotive majors such as DaimlerChrysler, Hyundai and others have unveiled their plans to make a foray into the Indian commercial vehicles market, said a special report of the Automotive Manufacturers Association of India.Already, joint ventures (JVs) have been formed between Iternational Truck and Engine Corporation, an American CV major, and Mahindra&Mahindra (M&M) and between MAN,.....
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