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<keyword id="3001" type="LOCATION" weightage="20" keywordseo="Pakistan">Pakistan</keyword> may allow <keyword id="1169098" type="PERSON" weightage="20" keywordseo="cotton-import">cotton import</keyword> from India through land route as prospects of gradual restoration of <keyword id="2144168" type="PERSON" weightage="20" keywordseo="bilateral-trade-ties">bilateral trade ties</keyword> have brightened after the <keyword id="10843030" type="UNKNOWN" weightage="20" keywordseo="new-ceasefire-agreement">new ceasefire agreement</keyword> along the <keyword id="44759" type="COMPANY" weightage="20" keywordseo="Line-of-Control">Line of Control</keyword>, according to a media report on Sunday. Citing sources in the <keyword id="137756" type="COMPANY" weightage="20" keywordseo="Ministry-of-Commerce">Ministry of Commerce</keyword>, The Express Tribune reported that Adviser to the <keyword id="71" type="POSITION" weightage="20" keywordseo="Prime-Minister">Prime Minister</keyword> on Commerce Abdul Razak Dawood may take a decision on whether to import cotton and yarn from India next week. They said that the issue of cotton shortfall has already been brought to the notice of Prime Minister <keyword id="14676" type="PERSON" weightage="20" keywordseo="Imran-Khan">Imran Khan</keyword>, who also holds the portfolio of the commerce minister. Once a principled decision is taken, a formal order will be presented before the Economic Coordination Committee of the Cabinet, the sources told the daily. The sources said that in-house deliberations have already begun but the final decision would be taken only after seeking the approval of the prime minister. I cannot say yes or no at this stage and would be in a better position to respond on Monday, Dawood told the daily, responding to a question on whether Pakistan was considering allowing cotton import from India. The trade ties between both the countries can help minimise cost of production in Pakistan and ensure sustained food supplies, the daily said. India and Pakistan issued a joint statement on Thursday to strictly observe all agreements on ceasefire along the LoC and other sectors after the hotline discussions by their Director Generals of Military Operations. The two countries signed a ceasefire agreement in 2003, but it has hardly been followed in letter and spirit over the past several years. Relations between the two neighbours have nose-dived after a series of terror attacks in India perpetrated by terror groups based in Pakistan. Bilateral ties deteriorated further after India revoked the special status of Jammu and Kashmir in 2019. The move angered Pakistan, which downgraded diplomatic ties and expelled the Indian High Commissioner in Islamabad. Pakistan also snapped all air and land links with India and suspended trade and railway services. The paper reported that against the annual estimated consumption of minimum 12 million bales, the Ministry of National Food Security and Research expects only 7.7 million bales production this year. However, cotton ginners have given the lowest production estimates of only 5.5 million bales for this year. There is a minimum shortfall of six million bales and Pakistan has so far imported roughly 688,305 metric tonnes of cotton and yarn, costing USD 1.1 billion, according to the Pakistan Bureau of Statistics. There is still a gap of about 3.5 million bales that needs to be filled through imports. Due to shortage of cotton and yarn, the users were compelled to import them from the United States, Brazil and Uzbekistan. Imports from India would be far cheaper and would reach Pakistan within three to four days. Importing yarn from other countries was not only expensive but would also take one to two months to reach Pakistan, the daily reported, quoting businessmen who deal in these commodities. The delay in yarn import can pose risk to timely deliver the export orders, according to the paper. However, the All Pakistan Textile Mills Association (Aptma) is exerting pressure on the Pakistan government not to allow cotton and yarn import from India. An industry insider told the daily that few millers have already hoarded the cotton and were now charging higher rates and import would dampen their short-term earnings. In an appeal to Dawood, Aptma said that the import of yarn from India will directly impact cotton prices in Pakistan. The cotton sowing season is currently starting in Pakistan and the predicted drop in cotton price owing to import of yarn from India is approximately 10-15 per cent, discouraging farmers not to sow cotton, according to the Aptma. On Thursday, India said it desires normal neighbourly relations with Pakistan and is committed to resolving all issues bilaterally in a peaceful manner. Prime Minister Khan on Saturday welcomed the ceasefire agreement with India and said Islamabad remains ready to move forward to resolve "all outstanding issues" through dialogue. SEE ALSO: <a href="https://www.businessinsider.in/india/news/bharat-bandh-over-eight-crore-traders-across-india-shut-shop-in-protest-against-rising-fuel-prices-and-changes-in-gst-rules/articleshow/81223361.cms">Bharat Bandh – over eight crore traders across India shut shop in protest against rising fuel prices and changes in GST rules</a> <a href="https://www.businessinsider.in/finance/banks/news/ignore-low-cibil-score-for-street-vendor-loans-work-on-holidays-and-other-diktats-from-indian-government-to-banks-rushing-to-meet-march-target/articleshow/81223572.cms">EXCLUSIVE: Ignore low CIBIL score for street vendor loans, work on holidays, and other diktats from Indian government to banks rushing to meet March target</a> <a href="https://www.businessinsider.in/india/news/india-now-allows-you-to-avail-a-discount-on-flight-ticket-if-you-are-not-carrying-a-check-in-baggage/articleshow/81225977.cms">India now allows you to avail a discount on flight ticket if you are not carrying a check-in baggage</a>

Pakistan likely to import cotton from India after announcing LoC ceasefire

<ul class="summary-list"><li>US stocks closed mixed after choppy trading on Friday following a strong jobs report.</li><li>Friday's report from the Bureau of Labor Statistics showed the US added 372,000 jobs in June. </li></ul>US stocks ended mixed Friday following a choppy day of trading after a strong June jobs report, though all three major indexes notched a gain for the week. The US added 372,000 jobs last month, beating forecasts with the economy inching closer to <a href="https://www.businessinsider.com/june-jobs-report-hiring-payrolls-unemployment-rate-labor-market-recovery-2022-7">pre-pandemic employment numbers</a>. But the strong number suggest the Fed will remain committed to its path of interest rate hikes to rein in inflation. "It's difficult to rectify how some are claiming the economy is in recession when job growth remains well above long-term averages and wage growth is the strongest in decades," Peter Essele, head of portfolio management at Commonwealth Financial network, said. "More jobs and higher pay means more consumer purchasing power, which bodes well for an economy that's two-thirds consumption."Here's where US indexes stood after the market close at 4:00 p.m. on Friday: <ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 3,899.38, down 0.08% </li></ul><ul><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 31,338.15, down 0.15% (46.40 points)</li></ul><ul><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq Composite</a>: 11,635.31, up 0.12% </li></ul><a href="https://markets.businessinsider.com/news/stocks/upstart-stock-price-q2-earnings-revenue-guidance-inflation-recession-fears-2022-7">Upstart shares plunged as much as 22%</a> after the online lender cut its quarterly guidance on inflation and recession fears. The company now sees second-quarter revenue of $228 million, down from earlier estimates of $295 million to $305 million.In a Friday note published by Bank of America, analysts said<a href="https://markets.businessinsider.com/news/stocks/recession-us-inflation-bank-of-america-sticky-prices-markets-housing-2022-7"> the US would need a deep recession</a> in order to bring down inflation to a 2% target within two years. To tame the sticky, high prices, the Fed would need to be very aggressive with rate hikes. Overseas, Russian cuts to gas supplies forced <a href="https://markets.businessinsider.com/news/commodities/germany-russia-ukraine-uniper-gas-energy-pipeline-prices-sanctions-inflation-2022-7">Germany's Uniper to seek a government bailout</a>. The utility company already faced a cash crunch before Moscow's invasion of Ukraine, but the war has shaken energy <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword>.Meanwhile, <a href="https://markets.businessinsider.com/news/commodities/europe-gas-crisis-lng-supply-poorer-nations-ukraine-war-russia-2022-7">Europe has been ramping up imports of liquefied natural gas</a> amid the ongoing war. But poorer nations including Brazil, Bangladesh, Pakistan and others have struggled to get enough energy during the same stretch.Oil inched higher, with <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate</a> up 1.96% to $104.78 a barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, moved up 2.29% to $107.05 a barrel. <a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Gold</a> edged higher 0.109% to 1,741.30 per ounce. The <a href="https://markets.businessinsider.com/rates/u-s--rates-10-years?utm_medium=ingest&amp;utm_source=markets">10-year yield</a> rose 8.2 basis points to 3.088%.<a href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> rose 0.44% to $21.718.07.

US stocks end mixed but notch weekly gain after strong jobs report

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="Mian Khursheed/Reuters">Men use ropes to try and right a supply truck overloaded with wheat straw, used as animal feed, along a road in Dargai, in the Malakand district, about 165 km (100 miles) northwest of Pakistan's capital Islamabad, April 13, 2012.</a></div></div></div>Stocks closed red on Wednesday and the S&amp;P 500 lost its gains for the month of August. Year-to-date, the index is still up about 6%.First, the scoreboard:<ul><li>Dow: 18,397.43, -56.87, (-0.31%)</li><li>S&amp;P 500: 2,170.36, -5.76, (-0.26%)</li><li>Nasdaq: 5,215.21, -7.78, (-0.15%)</li><li>WTI crude oil: $44.70, -$1.65, (-3.5%)</li></ul><ol><li><a href="http://www.businessinsider.com/the-president-of-brazil-has-been-impeached-2016-8">Brazil's Dilma Rousseff was impeached as president</a>. Senators voted 61 to 20 to impeach her for hiding the country's faltering economy during an election year in order to win another term in 2014. Michel Temer, her former vice president, will serve as interim president until 2018. The Brazilian real firmed against the dollar by -0.53% to 3.2234.</li><li><a href="http://www.businessinsider.com/crude-oil-inventory-data-august-31-2016-2016-8">Crude oil sank after a huge inventory build</a>. West Texas Intermediate crude futures fell to a two-week low after the Department of Energy reported inventories rose last week by 2.3 million barrels, more than the 1.1 million barrels that economists had forecast. </li><li><a href="http://www.businessinsider.com/us-files-antitrust-lawsuit-against-deere-and-monsanto-2016-8">The Department of Justice filed an anti-trust lawsuit against Deere's planned </a><a href="http://www.businessinsider.com/us-files-antitrust-lawsuit-against-deere-and-monsanto-2016-8">purchase of Monsanto's Precision Planting business</a>. The government's suit in Chicago Federal Court said the deal would remove competition and raise costs for farmers, <a href="http://www.bloomberg.com/news/articles/2016-08-31/deere-deal-for-monsanto-s-precision-planting-opposed-by-u-s-isj365rw">Bloomberg reported</a>. Deere, the largest maker of agricultural machinery, agreed to buy the unit in November to give farmers real-time planting data.</li><li>In economic data, <a href="http://www.businessinsider.com/pending-home-sales-july-2016-2016-8">pending home sales rose more than expected in July</a>, by 1.3% month-on-month. Sales fell 2.2% year-on-year (2.2% forecast). The pending home sales index in the West rose to the highest since June 2013, lifted by a strong jobs market. </li><li><a href="http://www.businessinsider.com/chicago-pmi-august-2016-2016-8">The Chicago Purchasing Manager's Index fell more than expected to 51.5 in August.</a> "Economic activity slowed down into the summer, suggesting June's momentum was only a temporary revival in activity," said Lorena Castellanos, senior economist at MNI Indicators, in the report.</li><li><a href="http://www.businessinsider.com/nigeria-enters-recession-2016-8">Nigeria, Africa's largest economy, is in recession for the first time in 20 years</a>. Gross domestic product shrank 2.06% in the second quarter, following a 0.36% decline in the first quarter, the National Bureau of Statistics said. The oil crash hurt economic growth. </li><li><a href="http://www.businessinsider.com/canada-gdp-june-2016-2016-8">Canada had its worst quarter since the financial crisis</a>. Statistics Canada said real GDP fell 0.4% in Q2 after rising by 0.6% in Q1. </li></ol>Additionally:<a href="http://www.businessinsider.com/speculative-long-bets-on-the-dow-spike-2016-8">Traders are loading up bets on a market outcome that should make everyone nervous</a><a href="http://www.businessinsider.com/barclays-says-oil-supply-and-demand-data-is-misconstrued-by-analysts-2016-8">BARCLAYS: A lot of people are getting these 5 things wrong about the oil industry</a><a href="http://www.businessinsider.com/leon-cooperman-says-netflix-is-an-acquisition-candidate-2016-8">Leon Cooperman says "Netflix is an acquisition candidate for somebody"</a><a href="http://www.businessinsider.com/r-bill-gross-steps-up-criticism-of-fed-central-banks-for-zero-rates-2016-8">Bill Gross says the Fed has mastered "the art of market manipulation"</a><a href="http://www.businessinsider.com/ubs-technicals-team-looks-at-us-10-year-yield-2016-8">UBS says the bond market is "sitting on the edge"</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/paul-krugman-destroyed-biggest-criticisms-epipen-maker-mylan-2016-8">KRUGMAN: Free markets won't solve the problem driving EpiPen prices higher</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="EzajltNTE6znWwaGNih6z42tC3CqoVBM" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

STOCKS FALL: Here's what you need to know

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">AP</div></div></div>Last week, The Intercept <a href="https://theintercept.com/drone-papers">published a collection of leaked classified documents</a> detailing inner workings of the Obama Administration's drone strike operations in East Africa, Afghanistan, and Pakistan.The drone program has become the centerpiece of the Obama Administration counter-terrorism strategy, with the US military and CIA carrying out hundreds of strikes over the last decade to take out supposed terrorists and enemy combatants. The primary information revealed in the documents is an intergovernmental study on the successes and failures of the drone program.And the most troubling aspect of the report comes from a quote from the unnamed source.The source indicated that drone strikes are far less precise than the government lets on. This is due to how the government categorizes those killed by drone strikes and, in effect, obscures the collateral damage caused by such strikes. "If there is no evidence that proves a person killed in a strike was either not a military aged male, or was a military aged male but not an unlawful enemy combatant, then there is no question. They <a href="https://theintercept.com/drone-papers/manhunting-in-the-hindu-kush/">label them [Enemy Killed In Action]</a>," the source told The Intercept.After a drone strike is conducted, anyone the military or CIA can't prove is not an unlawful enemy combatant goes into the statistics as an "enemy." That designation is only removed if evidence emerges proving the person killed wasn't an "unlawful enemy combatant" - evidence that is often near impossible to come by. It's essentially "guilty until proven innocent." The effect of this is that we have no idea exactly how many civilians have actually been killed in US drone strikes in Afghanistan, Iraq, Pakistan, and Yemen - and we may never know. The source called the governments statements on civilian casualties caused by drone strikes "exaggerating at best, if not outright lies."The New York Times <a href="http://www.nytimes.com/2012/05/29/world/obamas-leadership-in-war-on-al-qaeda.html?_r=0&amp;mtrref=undefined">reported a similar finding in 2012</a>, noting that Obama's method for counting civilian casualties "counts all military-age males in a strike zone as combatants, according to several administration officials, unless there is explicit intelligence posthumously proving them innocent.""It bothers me when they say there were seven guys, so <a href="http://www.nytimes.com/2012/05/29/world/obamas-leadership-in-war-on-al-qaeda.html?_r=0&amp;mtrref=undefined">they must all be militants</a>," an administration official told the New York Times, regarding the policy. "They count the corpses and they're not really sure who they are."<div class="KonaFilter image-container display-table"><div><div class="image on-image">AP Photo/Matt York</div></div></div>During a speech in 2013, President Obama laid out the administration's policy guidelines for drone strikes. Among the guidelines established was Obama's assertion that before any strike, intelligence must indicate that "<a href="http://www.nytimes.com/2013/05/24/us/politics/transcript-of-obamas-speech-on-drone-policy.html?_r=0">there </a><a href="http://www.nytimes.com/2013/05/24/us/politics/transcript-of-obamas-speech-on-drone-policy.html?_r=0">must be near-certainty that no civilians will be killed or injured</a> - the highest standard we can set." While that supposedly "high standard" sounds good on paper, the findings in the leaked documents appear to show drone strikes as imprecise. Leaked slides <a href="https://theintercept.com/document/2015/10/14/operation-haymaker">pertaining to the military's operations along Afghanistan's border with Pakistan</a>, called Operation Haymaker, showed that "during a five-month stretch of the campaign, nearly nine out of 10 people who died in airstrikes were not the Americans' direct targets." By February 2013, the Haymaker airstrikes had killed 35 specifically targeted people, while more than 200 were, by default, declared "enemy killed in action."Here are the numbers for another five-month stretch, this one in 2012. Notice the percentage of EKIA ("enemy killed in action") to JP ("jackpots" or specifically targeted people) for "kinetic strikes" (terminology for drone strikes).<div class="KonaFilter image-container display-table"><div><div class="image on-image">Military documents obtained by The InterceptA portion of a slide from the administration's presentation on Operation Haymaker</div></div></div><a href="https://www.thebureauinvestigates.com/category/projects/drones/drones-graphs/">Numbers gathered by The Bureau of Investigative Journalism</a> are even more striking (The wide ranges in the numbers is reflective of the difficulty of accounting for deaths caused by drone strikes.): <div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.thebureauinvestigates.com/category/projects/drones/drones-graphs/">The Bureau of Investigative Journalism</a></div></div></div>For example, last January, an American drone strike in Pakistan intending to wipe out an Al Qaeda compound killed an American aid worker and an Italian man held hostage by the group. In response, Jameel Jaffer, deputy legal director of the American Civil Liberties Union, <a href="http://www.nytimes.com/2015/04/24/world/asia/2-qaeda-hostages-were-accidentally-killed-in-us-raid-white-house-says.html?ref=topics&amp;mtrref=topics.nytimes.com&amp;assetType=nyt_now">reiterated concerns over </a>collateral damage caused by drones to New York Times. "These and other recent strikes in which civilians were killed make clear that there is a significant gap between the relatively stringent standards the government says it's using and the standards that are actually being used," he said.<div id="categorypromo" style="border:1px solid silver; min-height:114px; padding:4px;"><a href="http://www.businessinsider.com/intelligence/research-store?IR=T&amp;utm_source=House&amp;utm_term=CtgrPr-Drones&amp;utm_campaign=CtgrPr#!/THE-DRONES-REPORT/p/47962272/category=11987294"></a> Get THE DRONES REPORT now! Commercial drones are already a reality. BI Intelligence takes an in-depth look at the most important aspects, including market forecasts for commercial applications, regulatory process, and the leading players. <a href="http://www.businessinsider.com/intelligence/research-store?IR=T&amp;utm_source=House&amp;utm_term=CtgrPr-Drones&amp;utm_campaign=CtgrPr#!/THE-DRONES-REPORT/p/47962272/category=11987294">Get the Report Here »</a></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/dalai-lama-says-female-dalai-lama-must-be-attractive-2015-9">The Dalai Lama says a female Dalai Lama must be attractive, "otherwise not much use"</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="hrYWRvdzoPOvEILR_2_85EdeioB394bh" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Leaker: The way Obama administration views civilian casualties from drones is 'exaggerating at best, if not outright lies'

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Reuters/Toby MelvillePassengers cross the River Thames in cable cars with the moon seen behind at Greenwich Peninsula in London, Britain December 11, 2016.</div></div></div>Good morning! Here's what you need to know on Tuesday.<a href="http://uk.businessinsider.com/philip-hammond-says-britain-will-need-a-transition-deal-before-brexit-2016-12">Chancellor Philip Hammond admitted Brexit will take too long - and be too expensive - for Britain to stick to the Article 50 timeline.</a> "The further we go into this discussion, the more likely it is that we will mutually conclude that we need a longer period to deliver," the chancellor of the exchequer told MPs on Monday evening.<a href="http://www.businessinsider.com.au/chinese-industrial-output-and-retail-sales-are-accelerating-2016-12">Chinese industrial output and retail sales are accelerating.</a> According to China's National Bureau of Statistics (NBS), industrial output grew by 6.2% in the year to November, topping expectations for an unchanged reading of 6.1%.<a href="http://www.businessinsider.com.au/chinas-housing-market-has-clearly-entered-a-downturn-2016-12">China's housing market has clearly entered a downturn, primarily because of a government push to slow rampant price growth in some of the nation's largest cities. </a>That's the view of Wei Li, China and Asia economist at the Commonwealth Bank, who says that data released on Tuesday suggests that market conditions are cooling.<a href="http://uk.businessinsider.com/closing-bell-december-12-2016-12">The Dow Jones Industrial Average closed at a record high - its 15th since Trump's victory. </a>Across the US markets stocks were mixed to start the week during trading on Monday, with the Dow finishing in the green and Nasdaq in the red - a common post-election theme.<a href="http://www.businessinsider.com/r-brent-crude-oil-prices-firm-as-abu-dhabi-cuts-exports-2016-12?IR=T">Brent crude oil prices firm as Abu Dhabi cuts exports. </a>Oil prices were firm on Tuesday as the first signs of a crude production cut organized by OPEC and other exporters materialized, tightening a market that has been grappling with ballooning oversupply for over two years.<a href="http://uk.businessinsider.com/trump-picks-goldmans-gary-cohn-for-national-economic-council-2016-12?r=US&amp;IR=T">Trump officially picked Goldman Sachs President Gary Cohn to be National Economic Council director.</a> Cohn was the No. 2 executive at the Wall Street firm, with only CEO Lloyd Blankfein senior to him. The move had been rumored for days, with Cohn meeting several times with Trump over the past two weeks.<a href="http://www.businessinsider.com/trump-mitt-romney-secretary-of-state-2016-12">Exxon Mobil CEO Rex Tillerson looks set to be named as US president-elect Donald Trump's secretary of state</a>. It comes after former Massachusetts Gov. Mitt Romney posted on Facebook to saying it was an honor to be considered for the role.<a href="http://www.bbc.com/news/world-europe-38295549">Italy's new Prime Minister, Paolo Gentiloni, has announced his new cabinet</a>. Gentiloni succeeds Matteo Renzi, who resigned after losing a referendum eight days ago.<a href="http://www.businessinsider.com/r-pakistan-international-airlines-chairman-resigns-days-after-plane-crash-2016-12?IR=T">Pakistan International Airlines (PIA) Chairman Azam Saigol has resigned from his post</a>. Saigol cited personal reasons, the company's spokesman said on Tuesday, less than a week after a PIA plane crashed and all 47 people on board were killed.<a href="http://uk.businessinsider.com/new-viacom-ceo-president-bob-bakish-2016-12">Viacom named Bob Bakish its new president and chief executive officer, and it has made him a member of the board. </a>Bakish had been serving as acting president and CEO since November 15. The appointment arrives after earlier news that a potential merger between CBS Corp and Viacom had been abandoned. <a href="http://uk.businessinsider.com/daniel-pinto-jpmorgan-cib-ceo-interview-2016-12">And finally ... We sat down with the CEO of JPMorgan's giant investment bank - here's what he had to say about trading, hiring, and technology</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/us-199-trillion-debt-china-japan-uk-hong-kong-ireland-cayman-islands-treasury-bonds-notes-politics-2016-12">The US is $19.9 trillion in debt - here are the countries we owe the most</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="U4aG40ODE6eNhUKBXTk9_DDbW6tKUEAM" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

10 things you need to know before European markets open

Last week, <keyword id="1334" type="COUNTRY" weightage="60" keywordseo="China">China</keyword> and <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword> signed a border pact to ease tensions along the disputed border dubbed the Line of Actual Control (LAC). 
The pact is largely intended to prevent a military conflict, improve communication between the two sides, encourage cooperation on border-related activities such as combating the smuggling of contraband goods, and promote better relations between troops, like joined celebrations of major holidays, <a href="http://www.indianexpress.com/news/border-pact-with-china-does-not-tie-india-s-hands/1186442/">reports the Indian Express.</a>
Experts aren't too enthused about the pact, viewing it as a temporary fix. "So many of the current problems arise from the line of actual control and both sides have a different understanding which means even after the new agreement is implemented there will still be conflicts and contradictions," Huang Yinghong, assistant professor of Asian and Pacific studies at Sun Yat-sen University, <a href="http://www.ft.com/intl/cms/s/0/3483a758-3bb9-11e3-b85f-00144feab7de.html?siteedition=intl#axzz2j2aXlllb">told the Financial Times</a>.
<div class="KonaFilter image-container float_right click-to-enlarge"><div class="image"><a title_source="Wikimedia Commons" title_caption="" class="zoomin" href="http://static5.businessinsider.com/image/526ece7369bedd2f038b456e-960/kashmir_map_big.jpg"></a>Wikimedia Commons</div></div>
China and India went to war in 1962 over disputed territory of Aksai Chin. India claimed this was a part of Kashmir, while China claimed it was a part of Xinjiang.
To the east, China and India also fought over the Indian state of Arunachal Pradesh. China calls the territory South Tibet.
It is widely believed that India's decision to grant the Dalai Lama asylum during the Tibetan uprising against Chinese rule also played a part in the war.
After the loss of Aksai Chin, Indian Prime Minister <a href="http://www.thehindu.com/opinion/letters/rewinding-to-1962/article4023482.ece">Jawaharlal Nehru said</a> "not a single blade of grass grows there."
But the disputes also extend to other parts.
"Currently, India and China dispute over a land area of about 125,000 km2 which can be divided into the eastern, middle and western sectors," <a href="http://www.google.com/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;ved=0CCsQFjAA&amp;url=http%3A%2F%2Fwww.ispionline.it%2Fsites%2Fdefault%2Ffiles%2Fpubblicazioni%2Fanalysis_181_2013.pdf&amp;ei=xa1uUqG9MfOr4APHi4CwBw&amp;usg=AFQjCNGXi5ibmPS6yrjvdX8wPby-2Avm_A&amp;bvm=bv.55123115,d.dmg">write Hongzhou Zhang and Mingjiang Li</a> of International Society for Performance Improvement (ISPI).
We've already looked at the eastern sector (Arunachal Pradesh) and the western sector (Aksai Chin). There's also the middle sector:
"The middle sector starts from the tri-junction between the Southwestern of Ngari Prefecture, Tibet, La dwags and Punjab to the tri-junction between China, India and Nepal. Its border is about 450 km long, with about 2,000 km2 of land under dispute. The disputed area in the middle sector on the other hand is much smaller, involving only several pockets."
<div class="KonaFilter image-container float_right click-to-enlarge"><div class="image"><a title_source="Associated Press" title_caption="" class="zoomin" href="http://static2.businessinsider.com/image/526fc6b569bedd543a8e42f6-960/sino-indian-border-war.jpg"></a>Associated Press</div></div>
The death toll of the Sino-Indian war climbed to the thousands for India, and the hundreds for China. Thousands were wounded on both sides, and thousands of Indian soldiers disappeared. Many soldiers on both sides were believed to have died from the extremely harsh weather conditions.
China won that war. But Sino-Indian territorial disputes have continued since. Part of the problem is that a clear border has never been identified.
<h3>But India And China Have Good Reason To Cooperate</h3>
India is China's second-largest neighbor and the two are emerging market power houses. Yet, the EU, U.S., Hong Kong, Japan, and South Korea are bigger trading partners to China, than India, <a href="http://www.stats.gov.cn/english/newsandcomingevents/t20120222_402786587.htm">according to the National Bureau of Statistics</a>. Both India and China have pledged to <a href="http://www.ft.com/intl/cms/s/0/3483a758-3bb9-11e3-b85f-00144feab7de.html?siteedition=intl#axzz2j2aXlllb">boost two-way trade to $100 billion by 2015.</a>
At a time when economic growth in both countries is beginning to slow, improving relations could help support both economies. In a speech delivered at the Central Party School, Indian Prime Minister <a href="http://www.thehindu.com/news/resources/manmohan-singhs-speech-on-indiachina-relations-at-the-central-party-school-beijing/article5268097.ece">Manmohan Singh pointed to "eight specific areas" </a>where he sees opportunities for China and India to cooperate more. Here are the key talking points from his speech via The Hindu:
<ol>
<li>India needs to modernize its infrastructure and welcome Chinese investment there.</li>
<li>Efficiently managing the "process of mass urbanization" along with improved waste management. "China has significant experience of urbanization and our national planners, city administrators and entrepreneurs should share experiences and seek solutions in dealing with the physical, social, environmental and human challenges of mobility and urbanization."</li>
<li>India can learn from the strength of China's manufacturing sector, while China can learn from India's strength in services.</li>
<li>"Intensify cooperation on the shared challenges of energy security, including joint development of renewable energy resources."</li>
<li>Work together on food security.</li>
<li>Collaborate to make " the international economic environment more conducive to our development efforts."</li>
<li>Focus more attention on sustainable growth and cooperate to ensure that "the international response to climate change does not constrain our growth and that it continues to be based on the principle of common but differentiated responsibilities." </li>
<li>Work together to ensure security in the region.</li>
</ol>
Tied closely to Singh's final point, better ties between the two Asian giants "opens up the possibility that Beijing might use its leverage with Islamabad to shape Pakistan's behavior in a way that might benefit India," writes <a href="http://www.brookings.edu/research/opinions/2013/10/08-india-china-relations-madan">Tanvi Madan of Brookings Institute. </a>
"For Beijing, there's desire to limit India's burgeoning relationships with the United States and Japan, as well as with other countries in what Beijing considers its backyard."
While the latest Sino-Indian border pact is not likely to yield an outright political alliance, better political and cultural ties can only help bolster both economies.

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