To replace and update India's still largely Soviet-era military equipment, New Delhi says it will need to spend $45 billion over the next five years. As China ramps up its military spending, India's arms budget is likely to keep growing as well, not least because the two Asian goliaths share a disputed border and their relations remain tense. "As we look at India's commitment to modernizing its forces we see a wide range of opportunities," says Lee Whitney, Lockheed Martin's Vice President of Strategy and Marketing Communications. "[The C-130J] gets us off to a good beginning."

But the competition is fierce. The fifth Defense Expo held this week in New Delhi attracted hundreds of exhibitors from 39 countries including Israel and France, both gaining fast on Russia in arms sales to India.

Lynas confirms Malaysian base for Western Australian rare earths ...

The long road to development for Lynas Corporation Mount Weld rare earths project near Laverton in Western Australia received an open gate today when it received all approvals from Malaysian authorities to build an advanced materials plant.PERTHApproval for the plant to process rare earth concentrates shipped from Lynas Corporation Ltd's (ASX:LYC) Mount Weld have been given by Malaysia's State of Pahang's Department of Environment and also from the country's Atomic Energy Licencing Board.

After exacting studies from the late 1990s through to 2005, Lynas decided the economics of developing a rare earths recovery plant were far cheaper in Malaysia than the original concept in Western Australia, not just based on financial issues but also by moving the processing closer to the global markets.

Derek Frey's Outlook

Derek Frey, Head Trader at Odom & Frey Futures Options and FOREX, will walk you through his weekly FOREX newsletter and offer you extensive insight into how, where, and why he feels the currency markets will move for the week ahead. The great part about this is, it is an open session in which he will answer any and all market related questions, giving you the chance to pick the brain of an experienced trader.Derek has been trading for over 15 years and specializes in Options. He has been a regular contributor here at FXstreet.com since 2004.Join him free and find out why traders around the world listen to his opinion every week.

Who is Derek Frey? Derek Frey has been a futures trader since 1989 and is Head Trader and partner at Odom & Frey Futures & Options, a firm that specializes in high probability, defined risk option spread trades for the futures markets.

THE HOT 100: Ex-Tiger Maybin, current Tiger Ryan Raburn among players ...

Here's the 12th annual list of Sports Weekly's 100 Names You Need to Know. These are the next wave of players coming into the majors, who, in our view could make the biggest impact during the 2008 season. These aren't necessarily baseball's 100 best prospects. Many top prospects are too far down in the minor leagues to contribute in the majors this season. Others are stuck behind established major leaguers.

Stop Baby-Sitter Poaching!

Amanda is a working mom from the Boston area who loves the baby sitter she's had for years now. She knows how essential a reliable sitter is to her own sanity, so she pays her well. When two moms in her circle asked Amanda for her sitter's phone number, she demurred, saying with a laugh, "Oh, you know I can't reveal that!" She figured the matter was settled.

In their sometimes desperate search for dependable childcare, many parents who wouldn't think of swiping so much as a newspaper from their neighbors' doorstep somehow find it OK to go behind their backs to poach their baby sitter.