2.  Out of 55 lakh bales of cotton exports , 35-
40% of consignments are bogus.
 Its is kept for hording.
 CAI wants Govt. to penalized defaulters
monetarily.
 But confederation of Indian textile industry
wants Govt. to defer exports till Jan 2011 to
avoid a severe cotton shortage.

3.  India, Oman extensive talks to enhance
bilateral trade.
 India, Oman are members of Gulf
Cooperation council and shared ‘issue-
free’ relations.
 Despite of global meltdown, bilateral
trade touched $4.5 billion last fiscal

4.  French President Nicolas Sarkozy warned
that currency instability threatened world
growth.
 He called for coordinated action to reform
the world financial system.
 His comments came as Group of 20 finance
leaders struck a deal to refrain from
competitive currency devaluations
although they failed to agree firmer
language that might have shored up the
U.S. dollar.

5.  India would become the IMF's eighth largest
member and its share of voting rights would rise
to 2.75 per cent.
 Under the deal, more than 6 per cent of voting
power at the Fund will shift to dynamic
developing countries such as China, which will
become the third-biggest member.
 Europe will give up two of the eight or nine
seats it controls at any given time on the IMF's
Executive Board, which will continue to have
24 members.

6.  China brought the case to the WTO in 2008,
challenging the United States for placing
punitive duties on goods from China including
pipes, tubes and tyres.
 The United States had introduced tariffs of
around 25 per cent on Chinese pipes to
prevent subsidised goods being dumped on
the US market.
 he WTO's dispute settlement body partly
rejected the Chinese complaint, although it
found that the "US Department of Commerce
had acted inconsistently" with WTO rules on five
elements of the case