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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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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Wednesday, Apr 16
19:15 BoC Monetary Policy Statement 3
19:15 BoC Monetary Policy Report 3
19:30 NAHB Housing Market Index 1 40 37 39
20:00 EIA Crude Oil Stocks Change 1 0.515M 0.400M 2.553M
20:00 BoC Press Conference 3
21:30 Fed's Hammack speech 2
22:30 20-Year Bond Auction 1 4.632%
23:00 Fed's Chair Powell speech 3
Thursday, Apr 17
01:30 Total Net TIC Flows 1 $-48.8B
01:30 Net Long-Term TIC Flows 1 $35.2B $-45.2B
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