UPDATE 1-US SEC's country watch list draws fire

(Reuters) - NEW YORK, July 5 - U.S. securities regulators
have stirred up a controversy with a new online tool that
allows investors to search for companies with ties to countries
the State Department has designated "state sponsors of
terrorism."




Both business and humanitarian groups say the list,
available on the U.S. Securities and Exchange Commission's Web
site, is ill-conceived. The tool provides links to companies
whose annual reports contain "some reference" to business
related to Sudan, Syria, North Korea, Iran and Cuba.


Read more at Reuters.com Government Filings News

Indian Explorers Lose Oil Rigs as Mexico, U.K. Step Up Offshore Drilling

(Bloomberg) -- Indian oil explorers led by Oil &
Natural Gas Corp. are losing rigs to rivals in countries such as
Mexico and U.K. as higher prices spur drilling, a report by
service provider Baker Hughes Inc. shows.

The number of rigs used in India slipped to 81 in May from
86 in January, Baker Hughes said in a monthly report on its Web
site June 15. At the same time, the worldwide total excluding
the U.S., Canada, Sudan and Iran, increased to 1,007 from 972.


Read more at Bloomberg Emerging Markets News