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Thursday, February 7, 2008

Bharti, VSNL join undersea cable deal

A nine-company consortium that includes Bharti Airtel and Tata-owned Videsh Sanchar Nigam Ltd signed a formal construction and maintenance agreement in Rome today to build a high-capacity fibre-optic submarine cable from India to France via Egypt and Italy.

The cable will cost $400 million to $450 million to build.

Known as I-ME-WE (India, Middle East, Western Europe), this is the fifth in the series of similar cable systems.

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GMT+5:30 Event Vol. Actual Consensus Previous
Friday, Jun 27
18:45 Fed's Hammack speech 2
19:30 Michigan Consumer Expectations Index 2 58.1 58.4 58.4
19:30 UoM 1-year Consumer Inflation Expectations 2 5.0% 5.1% 5.1%
19:30 Michigan Consumer Sentiment Index 2 60.7 60.5 60.5
19:30 UoM 5-year Consumer Inflation Expectation 2 4.0% 4.1% 4.1%
22:30 Baker Hughes US Oil Rig Count 1 438
Saturday, Jun 28
01:00 CFTC Gold NC Net Positions 1 $200.6K
01:00 CFTC Oil NC Net Positions 1 231K
01:00 CFTC S&P 500 NC Net Positions 1 $-174.1K
01:00 CFTC GBP NC Net Positions 1 £42.9K
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