In a strategic move, India's biggest gas transportation firm, GAIL (India) Ltd, has managed to sign a deal for 20% interest in Houston-based Carrizo Oil & Gas Inc.'s Eagle Shale Ford acreage, which affirms company’s first ever shale gas asset in the US.

According to a recent report, it has been revealed that India is going to bid for the comprehensive reforms of the Security Council of UN. This would be done in order to form a system of reforms that is well acquainted with the equitable system that gives an insight on the real scenario of the nations.

India and China have had a recent tiff over the matter of oil in the South China Sea. China has issued a number of warnings to the ONGC from India the exploration plans that the firm was running together with Vietnam is violating the rules of the Chinese Government.

European plane manufacturer Airbus has predicted that the demand for commercial aircraft will intensify in the Asian market which would strengthen up the economical status.

According to reports, Wen Jiabao, Chinese Prime Minister, recently claimed that he was very happy for the Japan's newly elected Prime Minister Yoshihiko Noda.

While sharing his views about new Prime Minister he asserted that he certainly believed that the new chief would continue to maintain the good relationships between both countries.

According to the grapevine, he was left unsaid when he was asked about the China’s and other Asian nations concerns regarding Noda's opinions on Japan's wartime inheritance controversies.

According to reports, Indian shares on Monday went up by 2.5% as it became part of the rebound all over Asia, right after the Ben Bernanke US Reserve Chairman made the way for more moves to boost the biggest economy in the world.

Classifying India as a major regional and international power, a senior Official revealed that the US desires to fortify the bilateral relations of the two countries, as India carries great potential and common interest.

The Deputy Assistant Secretary of Defense for South and Southeast Asia, Robert Scher, said, "We view our relationship with India as a partnership of equals-two nation states with a commonality of security interests in the Indian Ocean region and beyond".

According to reports, on Wednesday, adding to the financial concern linked with the global economy weakness, the BSE Sensex with a 0.1% loss, made a terrible opening.

However, the reports further claimed that just because of these terrible losses, 26 of its components have already reached the red area and 30 of its shares also fell by 0.45%.

The stock exchange of India witnesses gain, thereby attaining the second position in Asia. The Indian stocks witnessed a gain after a major fall that took place recently.

Establishment of three phase solar plan was the main topic of discussion at the Renewable Energy India 2011 Expo (REIE), held on August 10 to 12. The project aims to install 1-2 GW by 2013, 4-10 GW from 2013-2017, and 20 GW by 2022.