Wednesday, July 25, 2012

WASHINGTON: As many as 57 Indian companies including Reliance Industries, State Bank of India and Oil & Natural Gas Corp. figure in TheForbes Global 2000 list of public companies based on their rankings for sales, profits, assets and market value. Reliance with sales of $45.3 billion is ranked 121st in the list with three public State Bank of India Group (136, $29.1 billion), Oil & Natural Gas Corp. (172, 22.6 billion) and Indian Oil (243, $52.1 billion) taking the next three places among the Indian firms. Other companies in India's top ten were ICICI Bank (288, $13.2 billion), NTPC (348, $10.8 billion), Coal India (418, $10.4 billion), Bharti Airtel (453, $9.3 billion), Larsen & Toubro(499, $9.8 billion) and Tata Motors (512, $20.2 billion). JPMorgan Chase is in the top spot for the second consecutive year as the world's largest company followed by HSBC, up six spots fuelled by a 121 percent growth in profits in the past fiscal year. In total, the Global 2000 companies now account for $32 trillion in revenues, $2.4 trillion in profits, $138 trillion in assets and $38 trillion in market value. These firms also employ 80 million people worldwide. The Asia-Pacific region led The Global 2000 again this year with 701 companies, including the most additions (11) to the list of the regions - Asia-Pacific, Europe, Middle East & Africa-EMEA, the Americas and the US - with doubled profits, by far the biggest increase. The biggest profit centre was China, as 121 companies, including PetroChina, ICBC and Sinopec, returned an aggregate profit of $168 billion. Japan and South Korea also showed impressive gains in profits and assets. With the US economy back on its feet, growing at a steady 3 percent clip over the past 12 months, American firms on The Forbes Global 2000 are growing far faster. Total sales were up 12 percent in 2010 over 2009, and profits continue to rise-up 69 percent, versus 56 percent for the S&P 500. Still, the US grip on The Global 2000 has been slipping since 2004, when the number of US constituents was 751. It's now 536. The US still accounts for the most firms among the top 100 with 28.

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STORY HIGHLIGHTS
  • NEW: Two senior diplomats have defected, the opposition Syrian National Council says
  • Rebel troops prepare to face government reinforcements in Aleppo
  • Turkey says it is closing all border gates with Syria on Wednesday
  • Opposition group: At least 50 people are killed Wednesday
(CNN) -- Leaders of Syrian rebel forces ordered their fighters to attack hundreds of government troops heading toward Aleppo, the country's largest city, a Free Syrian Army official told CNN Wednesday.
The Syrian regime withdrew about 2,000 fully equipped troops, along with their tanks and artillery, from Idlib and sent them to Aleppo, about 40 miles away, the official said.
As the commercial hub of Syria, Aleppo is a crucial city in the country's 16-month conflict. If rebels eventually gain control of the city it would mark a pivotal point in the Syrian crisis and deal a heavy blow to President Bashar al-Assad's financial ties.
Across Syria, at least 50 people were killed in fresh violence Wednesday, opposition activists said. The dead included six people in Aleppo and six children, the Local Coordination Committees of Syria said.
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Rebel forces have been trying to wrest control of Aleppo from government forces.
"There is random shelling of the eastern portion of the city as the Syrian Army is trying to force out the FSA (Free Syrian Army). They are hitting civilian homes over and over," one activist told CNN via Skype Tuesday.
CNN's Ivan Watson, who is inside Syria, said he had noticed the rebels had become better armed in the past few months. While they only had shotguns at one point, they now have rocket-propelled grenades and assault rifles, he said.
The increased firepower has helped the rebels successfully attack armored vehicles and forced some Syrian forces to resupply by helicopter.
Watson said that in the village he was in, hundreds of rebels had loaded up with ammunition this week and headed to fight in Aleppo.
Both Aleppo and the capital city of Damascus have been al-Assad strongholds.
On Tuesday, state-run media reported that regime troops had regained control of neighborhoods in Damascus, where rebels fought al-Assad's forces last week.
Alex Thomson, a journalist for CNN British affiliate ITN, confirmed the developments from Damascus.
"It is quite clear that the regime has just had, in Damascus, the biggest boost to its morale in 16 months of violent civil war," Thomson wrote. "This is a comprehensive victory of the Assad regime in its own backyard and capital."
In what may be a blow to the regime, however, the opposition Syrian National Council said Wednesday that two senior Syrian diplomats were the latest to defect.
One is the Syrian ambassador to the United Arab Emirates, Abdullatif Al Dabbagh, SNC spokesman George Sabra said.
The second is Al Dabbagh's wife, who is also the Syrian envoy to Cyprus, Lamia Al Harriri. She defected to Qatar, SNC member Najy Tayyarah told CNN. She is also the niece of Syrian Vice President Farouq Al Sharea.
Al Dabbagh had helped a lot of Syrians in need, Tayyarah said from Istanbul.
Meanwhile, Turkey's customs and trade minister said "all border gates with Syria will be closed" Wednesday, Turkish state-run TV reported. A government statement was expected later in the day.
Thousands of Syrians have fled to Turkey in recent months to escape violence in their country, but the refugees generally cross from fields through the border fence, not the border gates.
The chaos in Syria took an ominous turn this week after a Syrian official discussed his country's weapons of mass destruction.
Jihad Makdissi, Syria's Foreign Ministry spokesman, told reporters Monday that "any stocks of WMD or any unconventional weapon that the Syrian Arab Republic possesses would never be used against civilians or against the Syrian people during this crisis at any circumstances, no matter how the crisis would evolve.
"All the stocks of these weapons that the Syrian Arab Republic possesses are monitored and guarded by the Syrian Army," Makdissi added. He further said that the "weapons are meant to be used only and strictly in the event of external aggression against the Syrian Arab Republic."
Russia said Syria had ratified 1925 Geneva protocols "banning the use of asphyxiating, toxic and other gases in military conditions" and expects the country to abide by that agreement. That protocol was "entered into force" in 1928, the United Nations said.
Russia has been a friend and ally of the al-Assad regime.
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U.N. Secretary-General Ban Ki-moon said Syria is not a party to the Organization for the Prohibition of Chemical Weapons. That's the body of the Chemical Weapons Convention dedicated to eliminating the weapons.
Al-Assad's regime "probably has the largest and most advanced chemical warfare program in the Arab world," according to Michael Eisenstadt, senior fellow and director of the military and security studies program at the Washington Institute for Near East Policy.
It includes "thousands of tube and rocket artillery rounds filled with mustard-type blister agents, thousands of bombs filled with the nerve agents sarin and possibly VX, and binary-type and cluster CW warheads filled with nerve agents for all its major missile systems.
"Its CW infrastructure is believed to include several production facilities and numerous storage sites, mostly dispersed throughout the western half of the country," Eisenstadt said.

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