India, China to Expand Cultural Ties

India and China will showcase their culture in each other”s land, holding major cultural festivals in 2010 devoted to traditional and contemporary arts, with an aim to boost people-to-people relations.

However, the year 2010 will witness the 2 countries take part in a major cultural exchange programme, with India hosting Chinese artists and China reciprocating by doing the same for Indians.

Meanwhile, while details of the programme are yet to be finalized, officials are planning to hold a months-long extravaganza in China, to showcase Indian dances, art and films among other things.

Further, with Bollywood educing a lot of interest in China, India also plans to bank on Indian films and music to establish connection with the Chinese masses.

India”s festival in China will largely be limited to India”s standard template of showcasing activities in performing arts, visual arts besides focusing on contemporary art to showcase the present cultural scenario in the country.

On the other hand, India, which has launched a major cultural diplomacy drive across South Asia, aims to foster strong people-to-people relations with its neighbors, including China which is India”s largest trading partner but has significant differences on border issues.

SEBI Asked BSE to Set its House in Order before Planning a Listing !!

Sebi has asked BSE to set its house in order before planning a listing 🙂

The Securities and Exchange Board of India (Sebi) asked BSE to set its house in order before planning a listing.

Of late, BSE has planned to list on the exchange for sometime and had approached Sebi for permission to list without an initial public offer.

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Sebi, however, also has to formalize norms for regulating self-listed companies while in order to sell their shares, some BSE members were eager on the listing of the exchange.

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Moreover, the market regulator communicated its position to the stock exchange informally and BSE started steps to develop its technology platform.

In addition, BSE acquired Marketplace Technology (MT) in order to offer back-office solutions for brokers estimated at Rs 43 crore.

On the other hand, BSE, over the years has regularly lost out to NSE on the technology front and new players like Financial Technologies are trying to ride the technology path setting up exchanges such as Multi-Commodity Exchange (MCX) and MCX Stock Exchange.

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Further, BSE has lost the top slot in terms of turnover even though it has more companies listed on it .

It will also be re-launching its derivatives trading and a new marketing campaign which is likely to help it popularize the product.

The move comes at a time when others such as MCX-SX are trying to enter the space.

🙂