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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
Thursday, Jun 12
18:00 Producer Price Index ex Food & Energy (MoM) 2 0.1% 0.3% -0.2% Revised from -0.4%
20:00 EIA Natural Gas Storage Change 1 109B 108B 122B
21:00 4-Week Bill Auction 1 4.08% 4.17%
21:30 USDA WASDE Report 1
22:30 30-Year Bond Auction 1 4.844% 4.819%
Friday, Jun 13
04:00 Business NZ PMI 2 53.9
14:00 Consumer Inflation Expectations 2 3.4%
18:00 Manufacturing Sales (MoM) 1 -2.0% -1.4%
18:00 Capacity Utilization 1 79.8% 79.8%
18:00 Wholesale Sales (MoM) 1 -0.9% 0.2%
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