INDIA

The leaders of the world's biggest emerging powers, Brazil, Russia, India and China meet this week for their first formal summit, seeking ways to reshape the global financial system after the worst economic crisis in decades.

Leaders of the emerging countries joined hands calling for a new world order amid the global financial crisis and boosting security and trade at two summits on Tuesday.

Leaders of emerging world powers discussed reducing their reliance on the United States, as well as boosting security and trade at two summits on Tuesday hosted by Russia but excluding the West.

The leaders of the world's biggest emerging markets demanded a greater say in the global financial system on Tuesday at their first summit, but steered clear of any assault on the U.S. dollar's dominance.

The draft communique of Brazil, Russia, India and China does not mention the role of U.S. dollar or a supranational reserve currency, sources with knowledge of the document told Reuters on Tuesday.

Indian Prime Minister Manmohan Singh, holding his first meeting with Pakistan's leader since last year's attacks on Mumbai, asked him to ensure militants could not operate from Pakistani territory.

The raging debate about the future of the U.S. dollar's reserve currency status may be masking the real drivers of its near-term direction.

Russia will advocate a cautious approach to changing the system of global reserve currencies when the world's biggest emerging economies hold their first formal summit on Tuesday, the Kremlin's top economic aide said.

The world's biggest emerging market powers will seek to craft a united front on repairing the global financial system when they meet for the first formal BRIC summit on Tuesday.

The dollar rose across the board on Monday after Russia said the U.S. currency's role as the world's main reserve currency was unlikely to change in the near future, hitting energy and commodity prices and related shares.

GlaxoSmithKline took another step in building its business in emerging markets on Monday by signing an alliance with Indian generic drugmaker Dr Reddy's Laboratories.

The Bombay High Court has directed India's Reliance Industries and Reliance Natural Resources to enter into a gas supply agreement within a month, a lawyer for Reliance Natural said.

India's wind turbine maker Suzlon Energy is considering the sale of part or all of its stake in Belgian company Hansen Transmissions in a bid to repay part of its debt, The Economic Times reported on Monday, citing people close to the development.

When a former peanut vendor and radical union leader with little schooling became Brazil's president in 2003, many believed Latin America's underperforming giant had shot itself in the foot once again.

Last week hosting the Americans. Next week visiting Russia. China's busy diplomacy amid the economic crisis reflects growing sway that some say has brought the moment for Beijing to don the cape of a full super-power.

The leaders of the world's biggest emerging markets -- Brazil, Russia, India and China -- meet in the coming week for their first formal summit, seeking a louder voice on the global stage.

Leaders of Russia, China, India and Brazil do not intend to discuss new global reserve currencies at their first summit in the Urals city of Yekaterinburg on Monday, a top Kremlin aide said on Sunday.

Pfizer Inc , the world's largest drugmaker, is looking to conclude deals in emerging markets over few months to raise its share of a market estimated at about $80 billion, an executive said on Sunday.

SingTel, Southeast Asia's largest telco, on Sunday launched in Singapore a service that lets mobile subscribers download music files and videos which it hopes to introduce to other parts of Asia.

Pakistan will increase defense spending by 15.3 percent in the 2009/10 fiscal year as it battles Taliban insurgents in the northwest on the border with Afghanistan.

Rich countries may act on their own to reduce greenhouse gas emissions by developing a carbon market they hope will lure in poor nations even if U.N. climate talks get bogged down, experts said.