1.   

PM-Sharif meet to focus on trade

While the situation on the Line of Control in Jammu and Kashmir will definitely be discussed when Prime Minister Manmohan Singh meets his Pakistani counterpart, Nawaz Sharif, in New York on the sidelines of the United Nations General Assembly, it was emphasised by high-level sources on Wednesday that progress on trade would be made, as there is a concrete agenda to be followed for that.

2.   

India, China step up engagement ahead of PM visit

Meetings would look to follow up on agreements reached between the two sides at last year’s dialogue, and to prepare for the third round of the Strategic Economic Dialogue scheduled to be held later this year. Starting Wednesday, India and China have begun a series of five high-level consultations, to be held over the next five days, on issues ranging from trade and finance to the boundary dispute, with the aim of laying the groundwork for Prime Minister Manmohan Singh’s expected visit to China next month.

3.   

RBI asks banks to review export credit limit regularly

To safeguard exporters from rupee fluctuations the Reserve Bank of India (RBI) Wednesday asked banks to review the export credit limit on a regular basis to help exporters. "We have examined the issue and banks are advised that they may compute the overall export credit limits of the borrowers on an on-going basis say monthly based on the prevalent position of current assets, current liabilities and exchange rates and re-allocate limit towards export credit in foreign currency, as per the bank's own policy," said a notification issued by RBI.

4.   

India's wheat output to set a new record this year: Pawar

India’s wheat output is set to achieve a new milestone this rabi season due to adequate soil moisture left following the late monsoon rain in the major growing regions. Union Agriculture Minister Sharad Pawar's forecast, India’s wheat output will surpass the record of 94.9 million set in the crop year 2011-12 (July – June). In the last crop 2012-13, however, wheat output declined a marginal to record 92.5 million tonnes.