The general impression is that Iran has gained tremendously from rising oil prices, fuelled by its vast oil wealth. In reality, however, given increased domestic consumption coupled with inefficient usage and subsidies, Iran is actually struggling to produce enough oil and gas for export. Without substantial upgrades Iran's oil production is expected to go through a gradual decline. Though Iran has abundant oil reserves, estimated at around 137 billion barrels, it has not even been able to generate its OPEC quota due to lack of technical expertise and skills.

The Sixth Aero India Aerospace and Defence Exhibition held from February 07 to 11, 2007 was by all accounts a 'big' event. The biennial gathering was organized jointly by the Ministry of Defence's (MoD) Department of Defence Production and the Federation of Indian Chambers of Commerce and Industry (FICCI). For the first time, Farnborough International Ltd., the organization that holds the Farnborough International Air Show, was involved. 503 defence companies from 33 countries were represented at the Yelahanka Air Force station in Bangalore, the venue of the show.

Vladimir Putin's visit to India on January 25-26, 2007 provided fresh impetus to the strategic partnership between the two countries. The visit reinforced the interests of both states in maintaining their traditionally close and friendly relationship and in strengthening a multipolar world order.

With President Bush signing the India-US nuclear co-operation bill into law, critics and supporters of the bill have once again reinforced their stated positions over the future benefits and losses accruing to both countries as well as the world at large. While supporters have left no stone unturned in emphasising upon the strategic, bilateral and political importance of the bill, critics have flatly described it as an 'historical mistake' which will hound efforts to curb nuclear proliferation in years to come.

A recent survey by a Colombo-based agency on the peace process revealed that a majority of Sri Lankans prefers India as a peace facilitator rather than the Norwegians. According to the report by the Centre for Policy Alternatives, over 52.5 per cent of Sinhalese and 82 per cent of upcountry Tamils voted for an Indian involvement in the peace process. In recent years, the mood has shifted across Sri Lanka with major parties to the conflict instilling a newfound faith on New Delhi as the ideal arbitrator for the peace process.

Sir Nicholas Stern, former chief economist of the World Bank and head of the British government's economic service, and his team submitted the report titled The Economics of Climate Change in October 2006. The report consolidates the research on the scientific evidence of climate change and concludes that evidence is now overwhelming: climate change is a serious global threat.