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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (7062)	9/22/1999 11:10:00 AM
From: JPR	Read Replies (2) \| Respond to of 12475

dawn.com Nawaz in a hurry to curry favor with US - Object to lay the hand on $280Mil from IMF. SIGN CTBT FOR IMF BOOTY. Nawaz, while U R in NY, stop-in, at CURRY IN A HURRY, 29th & LEX and have some fine food at reasonable prices Nawaz may visit US to sign CTBT By Shaheen Sehbai WASHINGTON, Sept 21: There are strong indications here that Pakistan may soon sign the CTBT and Prime Minister Nawaz Sharif may visit either Washington or New York to do so. Competent sources said advance TV crews had already been sent to the US for coverage of some "big event" while one report said the US had asked its ambassador in Islamabad not to return to Washington at least for another week. A senior State Department official, when asked on Tuesday whether Pakistan was ready to conditionally sign the CTBT with the provision that if India tests again Pakistan could also do so, did not deny the suggestion. "Everyone has that kind of options in the CTBT. It is the supreme national interest clause under which any one who has ceded to the treaty can leave it in their supreme national interest," the official diplomatically responded. Asked if there was any move on the Pakistan side to sign the CTBT at an early date, the official said: "Talk to Pakistan on that. Foreign Minister Sartaj Aziz's last remarks were a little bit on the negative side". Q: The US has not ratified it either. So, will Pakistan's signature help you get the ratification from Senate in any way? A: I think any action to show support for the treaty by other countries will have an effect. I would be unrealistic if I said if Pakistan signs then our Senate will also ratify. It will be one factor but it certainly won't hurt. Q: Pakistan Finance Minister has been making some statements that CTBT is being linked to the IMF programme. What is your position on that? A: I don't think that is accurate. Back in December we decided to support the IMF programme for Pakistan and we went along with that. IMF negotiations with Pakistan are on-going and IMF conditions are dependent on economic policies.

To: Mohan Marette who wrote (7062)	9/22/1999 11:33:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

India's ICICI (ICD-NYSE)opens at 11 on NYSE post-ADR listing NEW YORK, Sept 22 (Reuters) - India's ICICI Ltd. (NYSE:ICD -news) ADR opened at a premium at $11 Wednesday on the New York Stock Exchange, marking the country's first ADR listing on the New York Stock Exchange. The Indian term lender and finance firm offered 27.95 million ADRs in the offering priced at $9.80 per ADR, raising about $274 million. Each ADR is equivalent to five ordinary shares. ADR traders had said there was interest in the offering, noting the recent success of software firm Infosys Technologies Ltd. (Nasdaq:INFY - news) , the only other Indian ADR, and recent bullishness from some U.S. investment firms about India.