The Chinese government has decided to award the English news service, BBC World, a broadcast licence. Seven years ago, it had been thrown off the Star TV network by global media baron Rupert Murdoch to calm down a jittery Chinese regime, alarmed by the BBC?s coverage of the student protest against it.

With this licence, the Beeb will now be able to telecast over China and be received in hotels and foreign residential compounds. Additionally, it will also be received by the thousands of satellite dishes and cable systems in China.

The clearance is being seen as a major coup for BBC boss Greg Dyke and BBC Worldwide CEO Rupert Gavin. Gavin had been part of a trade mission led by culture secretary Chris Smith in 1999 which met up with Chinese authorities.

"This is the first time the Chinese authorities have positively granted us permission to broadcast," says Jeff Hazell, director of sales and distribution at BBC World. "It?s good to be able to regularise our relationship and if the Chinese authorities are happy with how it works out, we hope it could lead to other things."

Now to wait and watch what fare the Beeb dishes out for China. Hopefully it will not be a repeat of the early nineties.

The arrest of film financier Bharat Shah in Mumbai on Monday had its fallout later in the evening at the offices of B4U Entertainment where he is a co-promoter. A Mumbai police team questioned company officials seeking details of the financial transactions between Shah and B4U.

B4U MD Ravi Gupta said that reports of raids on company offices were an exaggeration. According to him, an investigating team led by Arun Borade sought explanations as to what was Shah?s role in the company and how the finances were organised.

Gupta said Shah?s role was strictly as financier of B4U Multimedia International, the Indian arm of B4U which handled advertising and promotions.

Bharat Shah was arrested under the Maharashtra Organised Crime Control Act for his alleged links with Pakistan-based underworld don Chhota Shakeel.

Following these developments, the diamond market in Mumbai has announced a shutdown in protest on Wednesday. The film industry has also announced a shutdown on Tuesday.