Friday, November 25, 2011

Europe Factors-Shares to fall for 7th day on euro zone woes

 European shares are set to fall for a seventh straight session on Friday, with a lack of progress and clear strategy to contain the region's two-year old debt crisis and Germany's persistent opposition to issue joint euro zone bonds hurting sentiment.
  
    Financial spreadbetters predicted Britain's FTSE 100 to open 19 to 21 points lower, or as much as 0.4 percent, Germany's DAX to fall 8 to 10 points, or as much as 0.2 percent, and France's CAC-40 to drop 9 to 10 points, or as much as 0.4 percent.
  
    French President Nicolas Sarkozy and Germany's Chancellor Angela Merkel, after talks with Italian Prime Minister Mario Monti, said on Thursday they had agreed to stop arguing in public over whether the European Central Bank should do more to resolve the crisis.
  
    Merkel said she would not soften her opposition to issuing joint euro zone bonds, and added that the proposals for more intrusive powers to enforce EU budget rules, including the right to take delinquent governments to the European Court of Justice, were a first step towards deeper fiscal union.
   
    "Yesterday's meeting between Sarkozy, Monti and Merkel sapped trader's hopes for the creation of a euro bond, and made them roll their eyes as it was made resolutely clear that EU policy makers intend to try and solve the debt crisis through increasing fiscal union," said Jonathan Sudaria, dealer at Capital Spreads.
  
    "Such a solution is likely to be a long drawn out bureaucratic affair, exactly the opposite of what the markets are looking for to restore confidence. Whilst Merkel sticks to this line and opposes the creation of euro bonds, market sentiment will continue on its downward trajectory."  

    The FTSEurofirst 300 index of top European shares hit a seven-week low on Thursday and closed 0.3 percent lower at 899.50 points in choppy trade.  

Prime Minister to meet private airlines officials

Prime Minister Manmohan Singh will meet officials from domestic private carriers on Saturday, Civil Aviation Minister Vayalar Ravi said today. The meeting assumes importance because most domestic carriers are facing financial crisis. Domestic airlines like Kingfisher, Jet Airways and Spicejet have all reported losses due to high costs of operation and rising crude prices.

While the agenda of the meeting is not known, a discussion on the proposal to allow foreign direct investment (FDI) by foreign airlines in Indian carriers might take place.

A draft Cabinet note by the Department of Industrial Policy and Promotion (DIPP) under the Commerce Ministry has recommended 26 percent foreign direct investment (FDI) by foreign airlines in domestic carriers. Anything below 26 per cent would not attract strategic investment from foreign airlines because in that case they will not have any powers to block a special resolution in a board meeting under the Indian company laws.

Current rules allow 49 per cent FDI in Indian aviation companies, but do not allow foreign airlines to own stake in India’s carriers.

Some airlines in India have opposed FDI because they worry that foreign partners will eventually take over the airlines they invest in.

Vijay Mallya, whose Kingfisher Airlines is in dire financial straits, has been urging the government to allow foreign airlines to invest in domestic carriers

Banks are finding it hard to extend more loans to India’s airlines – foreign investment could provide the assistance needed.

Earlier, the Prime Minister had backed a financial assistance to debt laden Kingfisher Airlines. "Private sector companies have to be managed efficiently but if they get into difficulties we have to find ways and means to get them out of the process," he had said.

Syria faces Arab sanctions deadline over monitors

Syria faces a Friday deadline to sign an Arab deal allowing monitors into the country or incur sanctions over its crackdown on protests including halting flights, curbing trade and stopping deals with the central bank.

Arab foreign ministers warned in Cairo that unless Syria agreed to let the monitors in to assess progress of an Arab League plan to end eight months of bloodshed, officials would consider imposing sanctions on Saturday.

Under a November 2 Arab League initiative, Syria agreed to withdraw troops from urban centers, release political prisoners, start a dialogue with the opposition and allow monitors and international media into the country.

Since then hundreds of people, including civilians, security forces and army deserters, have been killed as the unrest which the United Nations says has claimed at least 3,500 lives since March continued unabated.

The Syrian Observatory for Human Rights, a British-based opposition group, said at least 47 people were killed in Syria on Thursday, including 16 soldiers and 17 army deserters, mostly around the rebellious city of Homs and near the town of Rastan to the north.

The violence has prompted former ally Turkey to bluntly tell President Bashar al-Assad to step down and led France to propose "humanitarian corridors" in Syria to help transport medicines or other supplies to civilians in need.

French Foreign Minister Alain Juppe said he would discuss the idea with the Arab League but a source at the 22-member body said the proposal was not brought up at the Cairo meeting.

"In the case that Syria does not sign the protocol ... or that it later violates the commitments that it entails, and does not stop the killing or does not release the detainees ...  will meet on Saturday to consider sanctions on Syria," the Arab ministers said in a statement.

They said possible sanctions, which were not intended to affect ordinary Syrians, included suspending flights to Syria, stopping dealings with the central bank, freezing Syrian government bank accounts and halting financial dealings.

They could also decide to stop commercial trade with the Syrian government "with the exception of strategic commodities so as not to impact the Syrian people," the statement said.

Syria's economy is already reeling from the eight months of unrest, aggravated by U.S. and European sanctions on oil exports and several state businesses.

Mumbai journalist arrested in J Dey murder case

Mumbai-based journalist, Jigna Vora, was on Friday arrested in connection with the murder case of Mid-Day journalist J Dey.

Vora, who is employed with an English daily, is accused of being a part of the conspiracy to kill Dey.

The police are probing the underworld link in connection with Dey's murder, in this case that of Chhota Rajan as he is believed to be the matermind behind the murder.

Dey was shot dead outside his house at Powai in Mumbai on June 11, 2011.

Sachin Tendulkar misses 100th international century

Sachin Tendulkar fell six runs short of becoming the first batsman to score an unprecedented 100 international centuries during the third and final Test against the West Indies.

Tendulkar, who resumed on 67 at his home ground of Wankhede stadium on Friday, was dismissed for 94 when he slashed at a delivery from pace bowler Ravi Rampaul and was caught by Darren Sammy at second slip early on the fourth day.

Tendulkar faced 20 deliveries in the morning session and smashed a total of eight fours and two sixes in a 153-ball knock.

This is the tenth time that Tendulkar has got out in the nineties equalling the record of Steve Waugh and Rahul Dravid.

The 100th century has been tensely anticipated since he notched two 100s during this year's World Cup to reach a total of 99. He has scored 51 Test centuries and 48 in one-day internationals.

Sensex down 151 points on profit-booking

The BSE benchmark Sensex fell by over 151 points in opening trade Friday as participants booked gains recorded in the previous session amid a weakening trend on other Asian bourses.

The 30-share Sensex, which closed 158.52 points higher in the previous session, fell by 151.47 points, or 0.95 percent, to 15,707.02 in opening trade Friday.

In a similar fashion, the wide-based National Stock Exchange Nifty Index shed 46.75 points, or 0.98 percent, to 4,709.70.

Bucking the trend, stocks of retail firms were in good demand after the government cleared 51 percent foreign direct investment in the multi-brand retail sector yesterday.

Stocks of Pantaloon Ltd climbed 10.47 percent to Rs 221.30, while Shopper's Stop gained 7.39 percent to Rs 399.75 after the government took a decision to allow 51 percent FDI in the multi-brand retail sector, which was earlier off-limits to foreign players.

All the sectoral indices were trading in the negative zone, with losses of up to 1 percent.

Brokers said apart from profit-booking by speculators after yesterday's gains, a weakening trend in other Asian markets on concerns over the eurozone debt crisis dampened the trading sentiment at home.

Meanwhile, in the Asia region, Hong Kong's Hang Seng Index was down by 1.22 percent and Japan's Nikkei shed 0.32 percent in morning trade Friday. The US market was closed yesterday for 'Thanksgiving Day'.

Kamal al-Ganzuri appointed as new Egyptian PM

Egypt's ruling military council has tasked former prime minister Kamal al-Ganzuri with forming a new cabinet, Egyptian state media reported.

Ganzuri headed the government from 1996 to 1999, under ousted president Hosni Mubarak.

The reports of his appointment came yesterday after the ruling military council on Tuesday accepted the resignation of caretaker premier Essam Sharaf's cabinet, amid spiralling unrest, and invited the country's political forces for crisis talks on the formation of a "national salvation" government.

After the popular uprisings earlier this year that toppled Mubarak, Ganzuri distanced himself from the former leader in a television interview, prompting several Facebook pages to recommend him as a future presidential candidate.

Born in 1933, Ganzuri served as minister of planning and international cooperation before his first tenure as Egyptian premier.

He then made a name for himself by working to strengthen ties between Egypt and the World Bank and International Monetary Fund.

JuD threatens stir over MFN status to India.

The Jamaat-ud-Dawah (JuD), blamed for the 2008 Mumbai attacks, is continuing with its ‘hate India campaign’ as it held a massive protest rally in Lahore against the granting of Most Favoured Nation (MFN) trade status to India by the Pakistan government.

JuD top brass including Ameer Hamza, Hasnain Siddique and Hafiz Khalid Waleed headed the rally and called for launching of more protests to oppose the move to grant India MFN status.

JuD, which has been linked to militant group Lashkar-e-Toiba (LeT) also slammed Pakistan Foreign Minister Hina Rabbani Khar for initiating dialogue with India.

Hitting out at Khar, a JuD leader said, “How can this 33-year-old girl know anything about the 63-year-old Pakistan”.

On Nov 2, Pakistan granted MFN status to India, reciprocating a 15-year-old gesture.

Trade between India and Pakistan, currently at around USD 2.5 billion, is expected to double over the next three years on account of Pakistan granting MFN status to India.

Pawar slap: Protests in Maharashtra

Harvinder Singh, who slapped Union Agriculture Minister Sharad Pawar would be produced in a Delhi court on today.

Immediately after he slapped Pawar yesterday evening, Harvinder was taken to Barakhamba Road police station for interrogation. The Delhi police booked him under Section 323 (Causing hurt), 353 (Attack on public servant) and 506 (Criminal intimidation).

In Maharashtra, angry over the attack on their party chief, National Congress Party (NCP) workers have called for a bandh in Pune, Sangli and Beed.

Protesters were held in many parts of the state after reports trickled in about the attack on the Maratha strongman. Demonstrations were held in parts of Mumbai, NCP workers forced shop-owners to down their shutters in Sion, Dadar, Worli, and Kandivali areas among others.

Suburban rail services were also disrupted for a few minutes after party workers squatted on the tracks at Masjid Bunder and Kurla stations.

Protests were held in other parts of the state like Nashik, Kolhapur, Latur.

In Delhi, as the Parliament is in session, NCP MPs may raise the issue in the house.

Harvinder Singh is from Rohini in Delhi and is the son of a transporter. He was reportedly upset with Pawar over the persistent rise in essential commodities and growing corruption in the country.

Pawar (71), who went to a literary function at a public auditorium on Parliament Street, was caught unawares when he was slapped by Harvinder Singh, who had assaulted former Telecom Minister Sukh Ram outside a court on Saturday last after he was sentenced in a corruption case.

The NCP veteran and one of the seniormost politicians in the country, who has very little security, lost his balance for a moment but regained composure after the assault, moved towards the exit of the auditorium and got into his waiting car.

A news agency quoted police sources said that during interrogation, Harvinder Singh reportedly claimed that actually he wanted to target Mukherjee but gave up the idea because of his age.

Delhi High Court will hear bail pleas of Kanimozhi today

The Delhi High Court will hear on Friday bail pleas of DMK MP Kanimozhi and five other accused in the 2G case, advancing the hearing of their petitions from December one.

"All the bail applications would be heard on today" Justice V K Shali said on Thursday.

The accused, who included former Telecom Secretary Siddharth Behura and filmmaker Karim Morani, had pleaded that their bail applications should come up on Thursday itself but the court said they will be taken up on Friday, advancing the date of their hearing from December one.

Others whose bail pleas will be heard on Friday are DMK-run Kaliagnar TV MD Sharad Kumar and private firm Kusegaon Fruits and Vegetables Pvt Ltd directors Asif Balwa and Rajeev Agarwal.

During the proceedings, former Additional Solicitor General Altaf Ahmed and senior advocate Sidharth Luthra, appearing for Kanimozhi and Morani repsectively, submitted that the situation of their clients was akin to that of the five corporate executives, who were granted bail yesterday by
the Supreme Court.

"We are either similarly or better placed in relation to the accused who have already been granted bail. If possible, please list them for hearing on Thursday itself," Luthra said.

"Don't send a wrong message to the general public that you are high and mighty," the court said while refusing to accede to their contention.

Additional Solicitor General Mohan Parasaran, appearing for CBI, cited the apex court judgement on the bail applications of the five corporate executives, He, however, did not make his stand clear on whether he was supporting or opposing their petitions.

Thursday, November 24, 2011

Truce quiets Cairo streets, army apologizes

An overnight truce between Egyptian riot police and protesters succeeded on Thursday in calming violence that has killed 39 people in five days, but demonstrators occupying Cairo's Tahrir Square vowed to stay until the army gives up power.

Egypt's ruling military council, which has vowed to start parliamentary elections as scheduled on Monday, said it was doing all it could to "prevent the repetition of these events."

In a statement, it apologized, offered condolences and compensation to families of the dead, and promised a swift investigation into who was behind the unrest.

Demonstrators in Tahrir said the truce had taken hold from midnight. At dawn the area was quiet for the first time in days.

"Since about midnight or 1 a.m. there were no more clashes. We are standing here to ensure no one goes inside the cordon," said Mohamed Mustafa, 50, among a group barring a street leading to the Interior Ministry, flashpoint for much of the violence.

They were guarding a barricade made of a broken metal fence, a telephone booth laid on its side and part of a lamp post.

At the other end of the street, littered with shattered glass, lumps of concrete and heaps of rubbish, at least two army armored personnel carriers blocked the route. Mustafa's group said police were on the front line, and behind them the army.

Lines of Tahrir protesters manned similar barriers to block access to Mohamed Mahmoud Street, scene of repeated fighting.

Euro leaders meet amid bond crisis

Italy's Mario Monti is meeting Germany's Angela Merkel and France's Nicolas Sarkozy later, for the first time since Mr Monti took office.

They are likely to discuss Italy's economy and wider eurozone issues.

Germany and France currently disagree about whether bonds should be issued by the whole of the eurozone instead of individual countries.

On Wednesday, Germany sold just 3.6bn euros ($4.8bn; £3bn) worth of 10-year bonds, from 6bn euros on offer.

"In my conversations with analysts, traders and officials I'm finding more and more of them are talking about the end game for the euro. Not the end, necessarily, but a moment of truth very soon that will either force a big leap forward, or a wrenching break-up," said BBC economics editor Stephanie Flanders.

"Even Germany cannot be a safe haven if this crisis goes critical."

On Wednesday, European Commission president Jose Manuel Barroso launched a consultation on whether the 17 eurozone countries could issue joint stability bonds.

But Mr Barroso stressed that the creation of the bonds would require much greater scrutiny of the budgets and economic policies of individual members.

Germany opposes both the issuing of joint bonds and greater involvement for the European Central Bank (ECB) in bailing out troubled economies.

Its government is concerned that joint bonds would reduce pressure on member states to reduce their debt burdens.

On Thursday, French Foreign Minister Alain Juppe said that it was "urgent" that the ECB be allowed to intervene in the debt crisis.

"It's urgent. It will be discussed this very day in Strasbourg," he told France Inter radio.

Germany has said that EU treaties prevent the ECB from buying bonds as the lender of last resort.

There has been much discussion of the implications of the failure to place all of the German bonds on offer in Wednesday's auction.

It may be that demand for low-yielding bonds is limited or that it was a result of the Bundesbank taking an unusual approach to pricing its bonds.

"But nearly everybody thinks the auction does not bode well," Stephanie Flanders concluded.

Two shot dead in renewed protests in Saudi Arabia

Two men were shot dead during renewed Shiite protests in Saudi Arabia, as police exchanged fire with gunmen who "infiltrated" the funeral of another protester, the interior ministry said on Thursday.

It said the new deaths late Wednesday brought to four the death toll of protests that began on Monday in the Eastern Province, while nine others were wounded, including two policemen and a woman, according to a statement carried by SPA state news agency.

"These casualties were sustained during exchange of fire with unknown criminals who infiltrated citizens and opened fire from residential areas," it said.

The ministry claimed that "a number of security checkpoints have since Monday been increasingly coming under gunfire attacks in the Qatif region by assailants motivated by foreign orders."

"Security forces have been exercising self restraint as much as possible," it said, adding that two citizens were killed and six others, including two policemen "who received gun shots," were wounded.

"Several incidents of fire exchange took place during the funeral of one of those ... which caused the death of two citizens and wounded three others," it added.

Medics had confirmed late Wednesday reports by witnesses and activists reports that two Shiites were shot dead during the funeral.

Ali Abdullah Al Qarayrees, 26, from Awamiya town, and Munib al-Sayyed Al-Adnan, 20, from Shweika, "were shot by security forces during demonstrations," witnesses said.

Sharad Pawar assaulted at NDMC auditorium

Union agriculture minister Sharad Pawar was on Thursday slapped by a man, who had attacked former telecommunications minister Sukh Ram here four days ago. Pawar was attacked at the NDMC Centre here.

The Sikh man also took out his kirpan when security guards tried to overpower him and whisk him away. It is being reported that he has been taken in police custody.

He identified himself as Harvinder Singh from Rohini and runs a transport business. He told media that he attacked the minister to vent his anger on sky-rocketing prices of essential commodities.

It is believed that he also attacked former Union minister Sukhram on Saturday.

Meanwhile, leaders of all political parties have condemned the attack on Pawar.

Board member of Tata Sons P Mistry to succeed Ratan Tata

Cyrus P Mistry, board member of Tata Sons, will succeed Ratan Tata next year. The board of Tata Sons appointed Mistry aged 43, as deputy chairman on Wednesday. The board unanimously took a decision on the basis of the recommendation made by the selection committee set up to find a successor for Ratan Tata. The committee is said to have met 18 times before announcing the succession plan. Also watch (Cyrus Mistry to succeed Ratan Tata)

Mistry was part of the selection committee. He withdrew himself when his name was suggested. He then entered the process as a candidate.

“He will work with Ratan Tata over the next year and take over from him when Tata retires in December 2012,” a release said.

Ratan Tata praised the choice of selection committee and said that Mistry was intellligent and qualified to take on the responsibility being offered.

“I will be committed to working with him over the next year to give him the exposure, the involvement and the operating experience to equip him to undertake the full responsibility of the Group on my retirement,” Tata said.

Mistry said he was deeply honoured by this appointment. “I am aware that an enormous responsibility, with a great legacy, has been entrusted to me,” he said in a statement.

He announced that he will legally dissociate himself from the management of his family businesses to avoid any issue of conflict of interest. Shapoorji Pallonji Mistry, father of the new deputy chairman of Tata Sons, owns 18 per cent in Tata Sons. The Shapoorji Pallonji Group is into construction, textile, water treatment and other businesses. Cyrus Mistry is currently the managing director of the $ 2 bn SP Group.

Born on July 4, 1968, Mistry graduated from the Imperial College, London with a BE in civil engineering. He also holds a masters degree in management from the London Business School, and is a fellow of the Institution of Civil Engineers.


Mistry keeps a low profile and is considered as a professional manager. He is said to be good in financial matters. J J Irani, former MD of Tata Steel, praised the selection.

“Mistry does not speak too loudly but whatever he says people listen to,” Irani told NDTV Profit.

He was part of the selection committee appointed to select a successor for Ratan Tata. When a member suggested that why he should not be a candidate, he excused himself from the selection process.

People who have worked with Mistry are all praise for him.

Ajay Piramal, chairman of Piramal Enterprises, said that Mistry has an experience in running diversified businesses. “Cyrus has a customer-centric approach,” Piramal said.

Deepak Parekh, chairman HDFC said that he was impressed with Mistry’s work with HDFC. “Cyrus Mistry deserves to be chairman. There will be challenging times ahead though,” he said.

The selection committee comprised N A Soonawala and Shirin Bharucha representing Tata Trusts, Lord Kumar Bhattacharya and R K Krishna Kumar representing Tata Sons..

Tata Sons reported a net profit of Rs. 1,629 crore for the year ended March 2010. Revenue stood at Rs. 2,958 crore. The company is the holding company of the group and its assets include significant stakes in major Tata Group like TCS, Tata Motors, Tata Steel and others worth over Rs. 2,00,000 crore.

Food inflation falls to single digit

Food inflation fell sharply to single digit at 9.01 percent for the week ended November 12 even as prices of most agricultural items, barring potatoes, onions and wheat, continued to rise, on an annual basis.

Food inflation, as measured by the Wholesale Price Index (WPI), was 10.63 percent in the previous week.

The rate of price rise in food items stood at 11.38 percent in the corresponding week of the previous year.

According to the data released by the government today, onions became cheaper by 32.85 percent year-on-year, while potato prices were down by 7.23. Price of wheat also fell by 3.09 percent.

However, all other food items became expensive on an annual basis during the week under review.

Vegetables became 17.66 percent costlier, while pulses grew dearer by 14.28 percent, milk by 10.46 percent and eggs, meat and fish by 11.98 percent.

Fruits also became 4.59 percent more expensive on an annual basis, while cereal prices were up 2.86 percent.

Inflation in the overall primary articles category stood at 9.08 percent during the week ended November 12, as against 10.39 percent in the previous week. Primary articles have over 20 percent weight in the wholesale price index.

Inflation in non-food articles, including fibres, oilseeds and minerals, was recorded at 4.05 percent during the week under review, as against 5.33 percent in the week ended November 5.

Fuel and power inflation stood at 15.49 percent during the week ended November 12, the same as in the previous week.

Mumbai Test Live: Gambhir out, all eyes on Sachin

Gautam Gambhir could not go on to score the big one as he was removed by West Indies paceman Ravi Rampaul for 55. The fall of the second wicket brought an uncharacteristic cheer from the crowd as their anticipation was culminating with local hero Sachin Tendulkar taking the crease.

In the meanwhile, Rahul Dravid became one of those rare cricketers who have scored more than 13,000 runs in Test cricket.

The duo of Gambhir and Dravid took the total past the 100-run mark with a healthy run-rate. Gambhir was smooth in his shot selection as he slammed his 18th Test fifty to strengthen the run-chase.

India had gone into lunch on the third day of the final Test with 74/1 on the board. The duo of Gautam Gambhir and Rahul ‘The Wall’ Dravid held fort, thwarting the efforts of the Windes bowlers.

West Indies skipper Darren Sammy drew first blood, claiming Virender Sehwag (37) as the scorecard read 67/1. The batsman was bowled while trying to work the ball, not realising the big gap between bat and pad.

Delhi lads Sehwag and Gautam Gambhir had started the proceedings for India in their signature style. They were careful of nipping the odd one that moved on the turf but played everything else with confidence, taking the total past 50-run mark in quick time.

With the belter of the pitch ahead of them, the Indians hoped to surpass the efforts of the visitors as stands started filling-in.

Ravichandran Ashwin completed a five wicket haul by claiming the last man Devendra Bishoo (12), restricting the West Indies to 590 all out.

West Indies had started the morning of the third day at Wankehde with the last wicket stand of Bishoo and Fidel Edwards toiling to take the total past 600 runs, but the spin attack of Ashwin was too good for the tailenders.

Interestingly, Ashwin became the Indian bowler with most wickets in debut series in Test cricket.

Not opting to declare, the visitors made clear that every run was important to them and they would not like to bat last on this track.

On Day 2, the West Indies posted 575/9 at stumps, chiefly because of the success of the top batsmen. The testimony to the effort is the fact that for only the second time in Test history, the top six batsmen managed to score over 60 runs.

Darren Bravo was the man who did most of the damage with his 166 runs, looking reminiscent of Brian Lara.

Parliament adjourned twice after uproar

The issues of price rise and Telangana created turmoil in Parliament for the third day on Thursday as agitated Opposition members raised slogans, staged a sit-in in the Well and walked out, leading to two adjournments of both Houses.

As soon as the Lok Sabha and the Rajya Sabha assembled for the day, members of BSP, RJD and BJD and those from Congress belonging to Telangana region, along with TRS, started raising slogans to press for their varied demands, forcing their adjournment till noon.

Similar scenes were witnessed when the Houses reassembled, forcing the second adjournment till 2 pm.

On behalf of the government, Minister of State for Parliamentary Affairs V Narayanasamy said in the Rajya Sabha, "We are ready for a short-duration discussion (on price rise). We can start the discussion even now."

When the Lok Sabha reassembled at noon, TRS members – K Chandrashekhar Rao and Vijayashanti - came into the Well and staged a sit-in to demand a separate Telangana.

They were vociferously supported by Congress members from the region who carried placards and raised slogans from the aisles. They sought introduction of the bill for creation of the separate state to be carved out of Andhra Pradesh.

BSP and RJD members also shouted slogans demanding debate on price rise under rules which entail voting, while members of the BJD wanted 'special category status' to flood-ravaged Odisha. BSP members staged a walkout later.

In the melee, Speaker Meira Kumar announced that as per the rules, the adjournment motions on "unprecedented rise in prices of essential commodities" moved by SP and other parties could not be accepted. However, a special discussion on the same issue under Rule 193, which does not entail voting, would be taken up at 2 pm, she said.

In the Rajya Sabha, members from the BSP insisted on a discussion on price rise under a rule that entails voting.

Deputy Chairman K Rahman Khan, who was in the Chair, told them that their notice was under consideration.

Soon the BSP members were on their feet supported by, CPI-M, CPI and JD-U. Members from BJP, including SS Ahluwalia and Maya Singh supported them saying BJP was ready for a discussion.

At this, Minister of State in PMO V Narayanasamy told the Opposition members that Government was ready for a short duration discussion any time on the issue.

However, the members insisted on the motion being taken up under Rule 167, for which voting could take place under Rule 168.

Khan tried to persuade the agitating members telling them about the Government's readiness to discuss the issue but the members refused to relent forcing him to adjourn the House for two hours till 2 pm.

Outside the Rajya Sabha, Ahluwalia said, "We have given notice on price rise and black money and are ready for a discussion on any of these."

CPI leader D Raja said, "Government should not have the attitude to just to talk it out. We have discussed the price rise many a times and even two resolutions have been adopted but nothing has happened. So there has to be something more substantial than merely discussing the issue."

Cabinet likely to approve FDI in multi-brand retail

The government is likely to approve 51 percent FDI in multi-brand retail on Thursday, a decision that will allow global mega chains like Walmart, Tesco and Carrefour to open outlets in India.
    
Opposing the move, Trinamool Conress MP and Railway Minister, Dinesh Trivedi has asked the government to call for an all party meeting before the cabinet meet on the issue.

Meanwhile, efforts are on to convince West Bengal Chief Minister and Trinamool Congress chief Mamata Banerjee to support FDI in multi-brand retail.
   
Commerce and Industry Minister Anand Sharma has spoken to Banerjee and "if needed, would meet her again," to remove her apprehensions on the issue, sources said.
   
Trinamool Congress is a key ally of the UPA government.
   
Banerjee, who is here since Tuesday night, had reportedly said her party would oppose the proposal for allowing foreign direct investment (FDI) in multi-brand retail in the Cabinet.
   
"Sharma will explain to her how the FDI would be beneficial for small farmers and try to remove whatever inhibitions she has on the issue," sources said.

Increasing the foreign investment (FDI) ceiling to 100 percent from the present 51 percent in single-brand retail is also on the agenda of the the Union Cabinet meeting, sources said.
    
Most of the ministries, including the finance and the textiles, are in favour of the industry ministry's proposal to open the politically-sensitive sector to foreign players and the Cabinet will take a final call, they said.
    
Earlier, a panel headed by Cabinet Secretary Ajit Kumar Seth had recommended 51 percent FDI in multi-brand retail with certain riders, like minimum investment of USD 100 million and local sourcing.
    
The decision on the issue is pending for over two-years as Opposition parties are against foreign investment in this sector. The USD 600 billion segment is dominated by small kirana (mom & pop) shops.
    
Opposition have expressed concerns that allowing majors global retailers would lead to unemployment among the unorganised sector.
    
The government had opened the single-brand retail for FDI way back in 2006 and ever since 60 foreign players have entered the country in joint venture with local firms.

Several global retailers are waiting in the wings to enter India's multi-brand retail segment.

Diamonds of Rs. 1 crore found in Tirupati hundi

World’s richest temple became richer after an unidentified devotee made an offering of 162 diamonds to Lord Venkateshwara.

The diamonds, methodically packed in a velvet bag, were found in a ‘hundi’ (donation box) in the temple.

As per reports, the diamonds are worth a little over Rs one crore. Interestingly, certificate of genuineness was also found along with the diamonds.

The Tirumala Tirupati Devasthanams (TTD) is widely recognised as the richest temple body in the world with annual earnings being to the tune of Rs 700 crore.

Tamil Nadu Chief Minister banned on movie 'Dam 999'

Tamil Nadu Chief Minister J Jayalalithaa, Thursday, ordered a ban on the screening of the controversial film titled ‘Dam 999’ in the state. A work of fiction, the film shows the massive loss of lives and destruction of property that occurs due to the sudden collapse of a dam.

The state government and many other Tamil parties allege that the movie has been made to create panic among the people of Kerala in view of the fears being raised in that state over the strength of the Mullaperiyar dam.

The two states have been fighting over the dam for long – the dam is in Iddukki district of Kerala but is operated by the Tamil Nadu government by way of a lease agreement. While the government of Tamil Nadu wants to increase the storage level of the dam, the Kerala government opposes it citing safety concern - a breach could put lives of lakhs of people living downstream in peril.

Kerala wants a new dam built to replace the 116-year old dam but Tamil Nadu is not open to the idea and terms concerns about the safety of the dam as unfounded. The Mullaperiyar dam is important for Tamil Nadu as it meets the irrigation needs of farmers in southern districts.

Citing that the film’s release may cause law and order problems and because it is against the interests of the state, the TN government asked theatre owners not to release the movie.

Apart from the ruling AIADMK, leaders of prominent Tamil political parties including DMK, MDMK and PMK have raised the pitch against its release, expressing fears that its release would disrupt the peaceful co-existence of Tamils and Malayalees in both states.

In a statement issued by DMK, party chief M Karunanidhi said, “At a time when the case on the Mullaperiyar dam was pending in the Supreme Court, some people had produced a film on the likely outcome of the breach of the dam. The title of the film had been selected with ulterior motives.”

The DMK chief also sought to know why the Jayalalithaa government failed to express objections to the film when the controversy had come up for discussion in Parliament.

MDMK chief Vaiko has said the film, financed by Keralites, starring Indian and Hollywood actors and directed by Sohan Roy has been named 'Dam 999', referring to the legal rights held by Tamil Nadu over the dam for 999 years.

On the other hand, Kerala Chief Minister Oommen Chandy said a new dam has to be built - pointing to cracks in the structure after nearly 22 minor tremors. Chandy made another demand later - that the water level in the dam be reduced 120 feet, as a temporary solution.

"We are asking the Central government to intervene and tell the Tamil Nadu government to do it. We also request the SC empowered committee to look into it. In context of the frequent tremors it is an immediate necessity," Kerala Water Resources Minister PJ Joseph said.

Meanwhile, Congress’ Lok Sabha MP from Trivendrum Shashi Tharoor has jumped in support of the movie saying, “There is no logic in blocking the release of the movie.”

Wednesday, November 23, 2011

Sensex crashes over 350 pts; Nifty at 20-month low

Indian equity benchmarks crashed 2% as selling continued across the board. The Nifty has decisively breached the 4,700 mark reacting to European credit crisis and choppiness in the rupee. Banks, metals, technology, oil & gas, auto (barring Maruti) and public sector undertaking stocks were butchered. The 30-share BSE Sensex slipped 385 points to 15,679 and the 50-share NSE Nifty lost 114 points to 4699.

The Indian rupee has been quite volatile today; it was hovering around the 52 to the dollar, though it appreciated from the yesterday's closing level of 52.30.
 Head of Forex & Rates Strategy for Asia, Citigroup warned that the rupee is likely to remain under pressure.  Perretgreen is expecting the Reserve Bank of India (RBI) to open dollar window for oil marketing companies (OMCs) to ease the pressure.

All sectoral indices were in the red. The BSE Bankex crashed 2.5%. IT, Oil & Gas, Auto and Metal indices were down 2%.

Top losers - HDFC Bank, Jaiprakash Associates, M&M, Jindal Steel, Reliance Industries, IDFC and Sesa Goa were down 3-5%.

SKS Microfinance plunged 5% on reports that Vikram Akula may resign.

DB Realty (up 20%), Reliance Communications (up 2.5%) and Unitech (up ) rallied sharply after the Supreme Court granted bail to five corporates accused in 2G case.

On the global front, Asian markets extended losses. Taiwan, Kospi and Hang Seng lost 2.8%, 2.4% and 2%, respectively. Straits Times fell 1.5%. Nikkei was down 0.4% and Shanghai down 0.6%.

At 10:37 hours IST : Nifty below 4750; banks, oil & gas, tech tumble

Bears remained in power as they became more greedy day by day due to failure of European Unions to solve their debt crisis. Volatility in the rupee was another cause of concern for the market - it recovered to 51.88 in the opening trade from yesterday's closing price of 52.30 to the dollar but again slipped to 52.11. The 30-share BSE Sensex lost 225 points to 15,840.61 and the 50-share NSE Nifty fell 67 points to 4,745.55.

"The rupee free fall has caught market by surprise," said Suresh Mahadevan, managing director and head of Indian equities at UBS Securities. With the currency vulnerability adding to the fears over the global volatility, Mahadevan says the instability in the market is most likely to stay for over the next few months.

"The Indian market is the worst performing, globally. The market is moving towards a final leg of capitulation and on a worst case scenario there could be a 20% downside from current levels," Mahadevan cautioned.

Major largecaps like Reliance Industries, Infosys, HDFC Bank, ICICI Bank, Bharti, SBI and BHEL were down between 2% and 3%.

HDFC, TCS, Wipro, Sterlite, Tata Steel, Hindalco and Hero Motocorp lost 1-1.5%. However, Cipla and HUL were only gainers on the Sensex.

The market breadth was in favour of declines; about two shares slipped for every share rising on the National Stock Exchange.

At 9:20 hours IST : Sensex falls 200 pts on eurozone fears, Re recovers

Indian equity benchmark Sensex gave up all of yesterday's gains to slip below 16,000 in the opening trade. Nifty, on its part, broke the 4750 level. Endless eurozone fears, including selling of 3-month bills at a premium yield of 5.11% by Spain, made investors worried. With US revising its third quarter GDP downward yesterday, the sentiment has only worsened.

Republicans 2012: National security focus at TV debate

The eight Republican presidential hopefuls have traded blows on national security at a wide-ranging debate in Washington DC.

Before an audience of foreign policy experts, candidates were probed on domestic and foreign issues including defence cuts, Iran and border security.

The latest debate put former House Speaker Newt Gingrich in the spotlight after a recent surge in opinion polls.

The first Republican nominating contest will be on 3 January 2012 in Iowa.

Mr Gingrich is the latest in a series of Republican contenders to join former Massachusetts Governor Mitt Romney at the top of the polls.

Analysts say the conservative Republican base is dissatisfied with the prospect of Mitt Romney as their nominee, and has been searching instead for a known conservative candidate capable of taking on Barack Obama in November 2012.

With few of the candidates boasting significant foreign policy experience, the latest debate offered a new challenge for the leading contenders.

Mr Romney criticised the defence cuts triggered by the failure to reach a deficit-reduction deal and mounted a strong defence of Israel, while Mr Gingrich and Texas Governor Rick Perry both spoke out on the emotive issue of immigration.

Mr Huntsman found more speaking opportunities than usual, but Herman Cain, a confident voice on domestic economic issues, was less prominent than in recent debates.

The likelihood of almost $1tn of defence and domestic spending cuts, now in prospect after Congress' failure to reach a deficit deal, was roundly criticised by most candidates.

Mr Romney said the potential costs of Mr Obama's healthcare bill matched the level of cuts to the Pentagon budget.

"We need to protect America and protect our troops and our military and stop the idea of Obamacare," he declared.

Mr Perry, once seen as Mr Romney's chief rival but whose campaign gaffes have seen him lose support, said Defence Secretary Leon Panetta should resign in protest at the cuts his department could face.

Mr Gingrich, though, took a contrasting view. "It's clear that there are some things you can do to defence that are less expensive," he said.

On Pakistan, Mr Perry and Michele Bachmann sparred over US involvement with Islamabad.

Mr Perry said he would "not send them a penny" as the country has shown the US "time after time they can't be trusted".

Ms Bachmann cautiously said she would continue sending aid to Pakistan, because they were still sharing intelligence. Pakistan, Ms Bachmann said, was "too nuclear to fail".

But Mr Romney described Pakistan as being in need of urgent development. "We need to bring Pakistan into the 21st Century - heck, into the 20th Century."

There were few sharp exchanges between candidates in the debate, which was staged and moderated by CNN.

In a rare back and forth, Mr Huntsman and Mr Romney argued about the planned US troop drawdown in Afghanistan.
Mr Huntsman said US troops should come home sooner than planned, with some acting as trainers to the Afghan army and a "drone presence" maintained in the country.

Mr Romney disagreed, arguing that leaving Afghanistan early would leave it open to more violence. The two former governors also argued over the president's role as commander-in-chief.

On Iran, Mr Gingrich said Tehran's leaders could be gone within a year if fuel supply to the government was restricted. A peaceful change of government in Iran would be vastly preferable to a war or military strikes, he said.

Mr Romney also said that his first international trip as president would be to Israel, to show US support for its long-term Middle Eastern ally.

On the question of the Arab Spring, Mr Huntsman said the US "did itself a dis-service" by acting too soon in Libya.

"Our interests in the Middle East is Israel and preventing from Iran from going nuclear," he said.

Mr Perry, who declared support for a no-fly zone over Syria earlier in the day, appeared to soften his line somewhat, saying it was just one of several actions that could be taken against the Assad regim

Egypt unrest: Cairo protests continue despite military concessions

Thousands of Egyptians have continued to occupy Cairo's Tahrir Square despite an offer from the military for a speedier handover to civilian rule.

After four days of violent clashes, Field Marshall Mohamed Hussein Tantawi said presidential elections would be held by July 2012.

But many protesters in the square said the concession was not enough and have demanded the field marshal step down.

Clashes continued after dark between riot police and protesters in Cairo.

Television pictures from Tahrir Square showed ambulances arriving to pick up injured people.

According to Egypt's ministry of health, at least 30 people have been killed since Saturday and hundreds injured.

Police have been using tear gas, rubber bullets and birdshot against protesters who have been throwing stones.

Some protesters said live bullets had been fired.

Clashes have also been reported in several other Egyptian cities including Alexandria, Suez, Port Said and Aswan.

Egypt's ruling military council had previously said presidential elections might not happen until late 2012 or 2013. That move, coupled with a draft constitution produced earlier in the month that would exempt the military and its budget from civilian oversight, prompted a mass demonstration in Tahrir Square on Friday.
Events turned violent when security forces attempted to remove the protesters from the square on Saturday.

Many Egyptians have become frustrated with the slow pace of political reforms since Hosni Mubarak was overthrown as president in February after a wave of mass demonstrations.

The Supreme Council of the Armed Forces (or Scaf) took charge after his ouster, promising to implement the transition to civilian rule.

Those polls, taking place over three months, are due to set in train the transition to democracy.

The military's original timetable called for the new parliament to then choose a 100-member constituent assembly to draw up a new constitution within six months.
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Field Marshal Mohamed Hussein Tantawi: "We do not seek power"

A referendum would then approve the document before a presidential election was held. That would mean the military remaining in power until late 2012 or early 2013.

Protesters, however, had demanded the presidential vote take place after the parliamentary elections.

'The Dirty Picture' required me to be unapologetic: Vidya

Vidya Balan's dare bare act in her upcoming film " The Dirty Picture" is the talk of the town. The actress confesses that in the beginning, it was not easy for her to play the ultra-sensuous role.

"There was a certain amount of mental preparation about being uninhibited and being unapologetic about being uninhibited...But I have enjoyed it," said Vidya here during the promotion of her film, which depicts the rise and fall of a sex-siren in the 1980s and 1990s.

Known for her poise and grace in "Parineeta" and "Paa", she is eagerly waiting for the Milan Luthria directed film, which also stars Naseeruddin Shah, Tusshar Kapoor and Emran Hashmi.

"Everyone knows about 'Dirty Picture' and are excited about the film. I feel very happy about this. I cannot wait for it to release. I just hope everyone reaches the theatre," Vidya said about the movie releasing Dec 2.

Vidya starrer "No One Killed Jessica", based on ramp model Jessica Lall's murder, started the year on a positive note as the film earned both commercial success and critical acclaim. She also made guest appearances in "Thank You" and " Dum Maaro Dum".

Now, expectations are high from "The Dirty Picture", and people are hoping when the film comes out next month, it sets the cash registers ringing and spells good business for the industry.

Bachchans give huge fillip to the `girl child` in India

Son preference is a well-documented phenomenon in India, with a report saying an estimated 500,000 female foetuses are aborted in the country every year. So when Bollywood`s first family, the Bachchans, welcomed the birth of a daughter with open arms, they may have given a huge fillip to the girl child.

Nearly a week after the event, the Bachchan family was still gushing about the newborn Tuesday when they finally brought her home from hospital.

"Goddess Lakshmi has come to our home and we have brought home Lakshmi ratan," said Amitabh Bachchan about his granddaughter, born to son Abhishek and daughter-in-law Aishwarya.

The message could be lost to none.

Celebrities are often used as brand ambassadors by NGOs to drive home a point. And there can be no better example of that in India than Amitabh Bachchan, who was once successfully roped in for the polio vaccination drive.

What`s more, the birth of a girl child in his family has been hailed by other celebrities too, promising a larger impact on Bollywood fans.

Both Abhishek and his mother, Jaya Bachchan, were keen on a girl child.

"I wish for a healthy baby, hopefully, a daughter who looks just like Ash," Abhishek said in an interview, while his mom expressed her desire to welcome a "poti" (granddaughter).

Naysayers had once wagged their tongues against Amitabh and accused him of being biased towards the male child when at a gathering in Varanasi in 2006 he said he wanted his son to get married and produce a son.

But they were proved wrong when an excited Big B tweeted after his granddaughter`s birth: "I AM DADA to the cutest baby girl, A dada ji ... Ecstatic."

The 69-year-old`s mega success on the big screen turned him into an icon and his celebrity status worked wonders when he was roped in to campaign for polio eradication in 2002.

The country has recorded a worst decadal child sex ratio since independence as per the Census of India 2011. According to a report, since 1991, 80 percent of districts in India have recorded a declining sex ratio with the state of Punjab being the worst.

The decline in the child sex ratio in India is evident in the census figures. In 2001, the figure was 927 girls to 1,000 boys. Ten years later it has fallen to 914 girls against 1,000 boys.

Haryana is said to be the worst affected state - grooms have to travel thousands of kilometers in search of a bride as there are not enough girls there.

"Most of the time when celebrities of high stature like Amitabh Bachchan, Aamir Khan or Shabana Azmi promote a social campaign, it becomes the movement of new India as people start following them. Let`s hope that Abhishek and Ash`s baby girl creates the positive influence on all those families who are against the birth of the girl child," said Meghna Rao who runs an NGO called Breakthrough.

"It might change the way people welcome the baby girl in India and I am hopeful that she will also change the rude attitude of people," she added.

A study commissioned by the Health Ministry and Unicef and conducted by the Social and Rural Research Institute found that 73.6 percent guardians with children under the age of five in lower socio-economic categories could recall the television advertisement featuring Big B.

"The Bachchan family has always been responsible citizens, starting from the late Harivansh Rai Bachchan to Amitabh Bachchan and this is not only because of their status in society but because of their social responsibility towards society," said designer Anu P.D., who is associated with NGO The Earth Foundation, which contributes to different healthcare segments.

"Aishwarya and Abhishek are blessed with a baby girl and I am sure this will increase awareness among the masses," she said.

Lok Sabha to discuss price rise today

Day two of Parliament’s Winter Session got off to a stormy start on today, with the Opposition causing uproar in Lok Sabha over the issue of price rise.

The commotion started as soon as the House assembled for Question Hour at 11 am.

Amidst the din, Speaker Meira Kumar adjourned the House till 12 noon.

Rajya Sabha Chairman Hamid Ansari was also forced to adjourn the Upper House till 12 noon amid chaos.

The chaos preceded a planned discussion on the issue of price rise in the Lok Sabha today under a rule that does not entail voting. The government had yesterday managed to persuade the Opposition, mainly the Left parties, to have a discussion without voting.

Parliamentary Affairs Minister Pawan Kumar Bansal told reporters that the Lower House would take up the discussion on the statement of Finance Minister Pranab Mukherjee on the price situation.

Bansal's announcement is significant given the fact that earlier on Tuesday, the Left parties had declared that they are firm on taking up an adjournment motion in Parliament on spiralling prices.

The Winter Session of Parliament had got off to a stormy start yesterday with opposition in the Lok Sabha raising a variety of issues and the Left parties protesting against price rise and giving an adjournment motion on the issue.

BJP has also announced plans to bring an adjournment motion on the issue of black money on Thursday, an issue on which it expects Left's backing.

Bansal said the government would try to reach out to the BJP so that the discussion on black money could be conducted under a rule that does not entail voting.

Anna's tour plan of five poll-bound states on PM’s promise

Gandhian Anna Hazare has put on hold his plan to tour five poll-bound states after he received a letter from Prime Minister’s Office reiterating that the government’s commitment to pass a strong Lokpal Bill in the Winter Session of the Parliament.

A new channel quoted Anna as saying, "When the country's Prime Minister is giving the assurance then we have to believe in him, if we are in talks with the federal government and the issue concerns the country and society, then we have to put our plans on hold.

Earlier in the week, Team Anna had accused the feared that the government will reduce the Lokpal Bill to “an empty tin box with no powers and functions” if the citizen charter, whistle-blower protection and the judiciary are removed from the proposed anti-graft body.=

The activists said this following reports that the parliamentary standing committee, which is deliberating on the Lokpal bill, may advocate for removal of these sections from the anti-graft body.

They also remarked that such action would be contrary to the ‘sense of house’ passed by parliament in August — which Prime Minister Manmohan Singh referred to as a “resolution” in his letter to Anna Hazare - due to which the social activist broke his Ramlila Maidan fast.

However, later Team Anna expressed its willingness to de-link citizen's charter from the proposed anti-corruption ombudsman provided that a separate bill on the lines of the one in Uttarakhand be introduced in Parliament along with the Lokpal Bill.

2G: Bail granted to 5 corporate honchos

The Supreme Court on Wednesday granted bail to the five corporate honchos allegedly involved in 2G spectrum allocation scam.

The five corporate honchos were in jail for over seven months for their alleged involvement in 2G spectrum allocation scam.

The five are Sanjay Chandra of Unitech Wireless, Vinod Goenka of DB Realty as well as Reliance Group's Gautam Doshi, Surendra Pipara and Hari Nayar.

A bench comprising Justice GS Singhvi and Justice HL Dattu delivered the order on the bail pleas of five corporate honchos in the 2G case.

NASA launching 'dream machine' to explore Mars

As big as a car and as well-equipped as a laboratory, NASA's newest Mars rover blows away its predecessors in size and skill.

Nicknamed Curiosity and scheduled for launch on Saturday, the rover has a 7-foot arm tipped with a jackhammer and a laser to break through the Martian red rock. What really makes it stand out: It can analyze rocks and soil with unprecedented accuracy.

"This is a Mars scientist's dream machine," said NASA Jet Propulsion Laboratory's Ashwin Vasavada, the deputy project scientist.

Once on the red planet, Curiosity will be on the lookout for organic, carbon-containing compounds. While the rover can't actually detect the presence of living organisms, scientists hope to learn from the $2.5 billion, nuclear-powered mission whether Mars has — or ever had — what it takes to nurture microbial life.

Curiosity will be "the largest and most complex piece of equipment ever placed on the surface of another planet," said Doug McCuistion, director of NASA's Mars exploration program.

Ten feet long, 9 feet wide and 7 feet tall at its mast, Curiosity is about twice the size of previous rovers Spirit and Opportunity, weighs 1 ton and is loaded with 10 science instruments. Its formal name: Mars Science Laboratory, or MSL.

In a spacecraft first, Curiosity will be lowered to Mars' surface via a jet pack and a tether system similar to the sky cranes used by helicopters to insert heavy equipment in inaccessible spots on Earth. No bouncing air bags like those used for the Mars Pathfinder lander and rover in 1997 and for Spirit and Opportunity in 2004 — Curiosity is too heavy for that.

It is the kind of precision landing that officials said will benefit future human explorers on Mars.

The rover is scheduled to arrive at the mineral-rich Gale Crater next August, 8½ months after embarking on the 354-million-mile voyage aboard an Atlas V rocket.

It's a treacherous journey to Mars, and the road is littered with failures. In all, more than three dozen missions have aimed over the decades at the most Earth-like planet known, and fewer than half have succeeded. Of this flotilla, only one lander is still working on the dry, barren, cold surface — Opportunity — and only three craft still are observing the planet from orbit.

In fact, Russia's latest Mars probe remains stuck in orbit around Earth two weeks after its botched launch. NASA has had better luck at Mars, although it has lost a few spacecraft there.

"Mars is difficult, and so many things have to go right for a mission to work," said Michael Meyer, lead scientist for NASA's Mars exploration program.

Curiosity is the capstone of what NASA calls the year of the solar system. A spacecraft is en route to Jupiter after lifting off last August from Cape Canaveral, and twin lunar probes launched in September will arrive at the moon New Year's weekend.

A huge crowd — 13,500 invited guests — is expected for Curiosity's Thanksgiving weekend send-off.

There will be more anxiety than usual over the launch. Curiosity holds 10.6 pounds of plutonium, more than enough to power the rover on the Martian surface for two years. A nuclear generator won out over solar energy because it allows for a bigger workload and more flexibility. The plutonium is encased in several protective layers in case of a launch accident.

Once safely down on Mars, the rover will survey the landscape with high-definition and laser cameras mounted like eyes atop its mast. The laser will aim at soil and rocks as far as 23 feet away to gauge their chemical composition.

The rover also has a weather station for updates on Martian temperature, humidity and wind, as well as a radiation detector that will be especially useful for planning human expeditions.

Despite all its fancy upgrades, Curiosity will go no faster than the one-tenth-mile-per-hour logged by past Martian rovers. But it is expected to venture more than 12 miles during its two-year mission. If it's still working after that, it will keep on trucking, possibly all the way up the crater's 3-mile peak.

This mountain is composed of geologic layers similar to what one might find in the Grand Canyon, said project scientist John Grotzinger, a geologist at the California Institute of Technology.

"Our rover is going to be like John Wesley Powell going down the Grand Canyon," Grotzinger said, referring to the 19th-century explorer who led an expedition down the Colorado River.

The next logical step in Mars exploration, said Cornell University's Steve Squyres, who led the science team for Spirit and Opportunity, would be a robotic mission to deliver Mars samples to Earth for analysis. NASA hopes to pull that off later this decade, but the project is on Congress' chopping block.

Squyres warned that without such missions, U.S. leadership in science won't just be challenged — "it's going to go away."

Vivek embarrassed as Bachchans address press conference!

What could be more embarrassing for a star, when reporters leave his press conference mid-way to attend another press-meet that is of greater significance?

Vivek Oberoi was in a similar situation when he was at a five star hotel in Mumbai to launch DVDs of his home production `Watch Indian Circus`. Reporters who had gathered for the launch of the DVD opted to leave the conference half-way to attend a press meet organised by the Bachchans at their bungalow Jalsa in Juhu. Apparently the DVDs hadn’t arrived on time.

What added to Vivek’s embarrassment was that his event manager was spotted distributing DVDs of his home production to media personnel just outside Amitabh Bachchan’s house.

Taking to a tabloid, a source said, “In the middle of the Bachchan event, we got a call and SMS from the organisers of the Vivek event asking us to come out and collect the DVD`s of Watch Indian Circus.”

It seemed to be an awful day for the actor, for that was not the only thing that went wrong with him that day.

His bodyguard indulged in a verbal spat with the security guards present at the hotel during security check.

Narrating what happened, an eye witness said, “Vivek Oberoi arrived at the suburban hotel around 3.30 pm for the press conference with his Man Friday and a personal security guard. The guard was carrying a licensed gun. When Vivek headed for the security check, he was on a phone call. He asked the hotel security to hang on with their metal scanners till he finished the call."

"Realising that Vivek was already inside, his personal security guard ran after his boss, without bothering to stop for the mandatory security check," added the witness.

"Vivek`s guard was carrying a gun. The hotel security got into a heated argument with the guard over this. The matter was escalated to the head of security of the hotel. The head met Vivek and informed him about the altercation that happened," said the witness.

But the actor had no idea about the fight that was going on.

A friend of the actor said, “Vivek`s guard was indeed involved in a verbal spat with the hotel security. But Vivek was inside the venue at the moment had no clue about what was going on.”

Ajit Wadekar: It's Sachin`s destiny to score 100th ton at Wankhede

Former India skipper Ajit Wadekar on Tuesday voiced confidence that Sachin Tendulkar will score his hundredth century at the Wankhede stadium, saying it was the batting maestro`s "destiny" to achieve the feat at his homeground.

"It is destiny that he was born and brought up in Mumbai. He is bound to make history at Mumbai," the 70-year-old, who represented India in 37 Tests and scored 2113 runs, said on the sidelines of an event here tonight.

"Among the trio, (Rahul) Dravid and Laxman have scored centuries (in the series), only he is left. He will score it in Mumbai," said Wadekar, who was attending a function to announce the launch of the Eknath Solkar Academy in memory of the former India cricketer.

India is playing against the West Indies in the third and last Test which began here today.

Wadekar also backed discarded off-spinner Harbhajan Singh to make a comeback in the Indian team.

"He has taken loads of wickets. It is just one of the things that happens to any cricketer. I`m sure he will make a big comeback. There is no doubt that R Ashwin has been bowling extremely well but I think you can have two off-spinners like I had in my team. There is no harm in that."

Meanwhile, Solkar`s son Brijesh said the Academy was a tribute to his late father.

"Family members and some close members have formed the Eknath Solkar Foundation, that has initiated the Academy project. This is the least we could do for him," he said.

Cricket legends B S Chandrashekhar, Gundappa Vishwanath, Sunil Gavaskar and Ravi Shastri were among those present for the function.

Tuesday, November 22, 2011

Baby B to be named around Christmas

While Abhishek Bachchan has tentatively decided to call his little girl Beti B, the namkaran ceremony will take place after Christmas. The Bachchans will reportedly be hosting a private service at Pratiksha.

"They have ordered vegetarian food for the occasion and we know that a small private party is being organised by them. The food will be simple and there are a few South Indian dishes as well," a source from the catering team told.

"Big B will be choosing the name. As of now, nobody has been consulted for the name. Basically what we have heard is that a name that both Amitabh Bachchan and Aishwarya will agree on, will be finalised," the source added.

"It seems that everybody has agreed that the name has to be different and catchy. So, a short but exotic name is what everybody is expecting to zero in on... something that will always catch your ear," concluded the source.

Well whatever the name be, it will surely start from letter A as dad Abhishek had tweeted: "Suggestions for names are very welcome guys. Something with A.

Sustained high food inflation warrants monetary steps - RBI

The Reserve Bank of India (RBI) chief Duvvuri Subbarao on Tuesday said monetary steps may be warranted to curb inflation expectations in face of sustained high food inflation, flagging the need to revisit politically sensitive subsidy schemes in agriculture.

RBI Governor also said that the government's food for work programme and proposed food subsidy bill will further raise fiscal deficit and inflationary pressures.

Food inflation has been stubbornly high over the last few years in India, inspite of record foodgrain production and robust buffer stocks.

The RBI has already raised rates 13 times since early March 2010 to clamp down on stubborn inflation, largely driven by high food prices.

"The direct role of monetary policy in combating food price pressures is limited, but in the face of sustained high food inflation, monetary action may still be warranted to anchor inflation expectations," Subbarao said in a speech at a conference in the south-eastern city of Hyderabad.

The comments, hawkish as they seem, may not warrant a change in RBI's stance which has signalled a likely pause in rate hikes in the December policy and may be extend it, if inflation falls in line with the RBI's projected trajectory.

The central bank, in a bid to ease tight banking system liquidity, will buyback bands upto 100 billion rupees ($1.9 billion) on Thursday.

Subbarao said large increases in the minimum support prices on food grains by the government to farmers was one of the reasons driving food inflation.

"There is a case for revisiting subsidy regime for a number of reasons, including the pressure it exerts on food inflation."

His criticism comes on the first day of a parliamentary session in which the government will propose doubling food subsidies to about $24 billion in an effort to bolster its support among millions of poor Indians ahead of state elections.

Agricultural subsidies are a politically volatile issue as farmers constitute a large votebank for political parties.

The central bank chief also said the supply chain of farm products is a major source of price pressures and the cross-country experience on the benefits of multi-brand foreign direct investment on inflation is "ambiguous".

India's cabinet may decide to allow chains such as the world's largest retailer Wal-Mart Stores Inc (WMT) to operate in the country with a majority stake under strict local sourcing rules, a senior government source told Reuters.

A draft cabinet note suggesting so-called multi-brand retail foreign firms could hold up to 51 percent ownership has already been reviewed, a senior government source said on Friday.

Subbarao also said that the government's proposed food subsidy bill is another major potential source of inflationary pressure.

"The higher food subsidy burden on the budget will raise the fiscal deficit, exacerbating macro level inflationary pressures."

Estimates suggest that 68 per cent of the country's 1.2 billion population will get a legal entitlement for food grains after the bill is enacted, which will significantly raise annual grain procurement demand even as the available marketed surplus would not increase in the same proportion.

The governor made it clear "a lasting solution to food price pressures lies in a supply response" from the government.

Data released last week showed India's food price index rose 10.63 percent and the fuel price index climbed 15.49 percent in the year to Nov. 5.

'Saif al-Islam wanted to be with lovers, orgies'

Saif al-Islam was a womaniser who often indulged in domestic violence, according to a Ukrainian woman who claims to be a former wife of the captured son of slain Libyan dictator Muammar Gaddafi.

Nadia, a blue-eyed brunette claims to have met Saif, now 39, when she was working as a stripper at a Moscow nightclub, and says that as she prepared for marriage to him, she had to fly to Paris to have an operation to "restore" her virginity.

"The doctor proved my innocence in the presence of Saif's aunt. Then I embraced Islam. I tried to have a normal family, but Saif wanted to live as single man with lovers and orgies," the 'Daily Mail' quoted her as telling a Ukrainian newspaper.

The 29-year-old woman added: "Our house looked like more as bordello: a lot of his friends and a lot of women. We got married under religious traditions. I embraced Islam for that, but nobody treated me as the mistress of the house.”

"My husband tried to make me a submissive Eastern woman and I couldn't stand that attitude. Saif took drugs and he couldn't control himself when he was under narcotics. He had certain sexual perversions in sex, for example, he liked to do it in public. I understood that we couldn't live together."

Nadia has claimed that their relationship ended after a furious row in a restaurant which culminated with him beating her and throwing her out of a window, but she miraculously survived though she was in a coma for 47 days.

Of Col Gaddafi himself, she said: "About me being in hospital, he was in a fury. He kicked Saif away to the desert. It could spoil the reputation of the family that was already not so clean."

She left Libya and returned to Moscow. 'The last time he came was in 2008, and he suggested that we lived together again -- but I was cold to him by that time," she said.

Rahul: We Will make UP No. 1 state in five years

Congress General Secretary Rahul Gandhi on Tuesday promised to transform Uttar Pradesh completely from the alleged misrule of the BSP government and make it the number one state in five years.

Addressing a huge gathering of his delighted supporters in Barabanki, Rahul said, “I want to assure you that in five years we (Congress) will make UP the number one state in terms of industry, business and economic development.”

The young Congress leader, ridiculing the anti-people government of Chief Minister Mayawati, said, “You will see for yourself that Congress party will make a people’s government in Uttar Pradesh after the Assembly Elections in 2012.”

He made a scathing attack on the Mayawati government by alleging that it was embezzling funds meant for people’s welfare and development.

“Funds meant for development and people’s welfare does not reach the actual beneficiaries. The MNREGA fund released by the central government from time to time does not reach the aam admi. It is being guzzled by the middlemen. I want to ask the BSP government where this money goes, “he said asking, “Who are the real beneficiaries of this money?

“All previous non-Congress governments in Uttar Pradesh have failed to live up to the people’s expectation. The governments of Samajawadi Party, BJP and BSP have all failed this state. The successive governments in the past two decades have done nothing to alleviate people’s standard of living.”

Striking an emotional chord with his supporters, Rahul said, “Congress party’s derives its strength from the aam admi, who remains in the center of all our policies.”

Rahul informed his supporters that Congress government has taken several initiative aimed at improving the condition of people at the grass root level. “We have allocated Rs 6000 directly for weavers and waived loan up to Rs 3000, and we have done this not through the UP government because then you would not get it.”

Rahul made these remarks after kicking off his five-day road show from Barabanki.

He will cover Barabanki, Bahraich, Balrampur, Shrawasti and Kushinagar in the first phase of his five-day tour. Rahul is expected to address rallies along the way before ending his roadshow at Kushinagar on November 26.

Rahul had sounded the Congress poll bugle at Phulpur in Allahabad on November 14 by slamming Mayawati-led state government. He termed the situation in the state as ‘mafia raj’ and stirred a controversy by saying that people from Uttar Pradesh are being forced to go and beg in Maharashtra.

Besides addressing public meetings, Rahul may also continue with his visits to Dalit homes.

His tour will surely further increase the political temperature which is already on an upswing after Chief Minister passed a bill the state assembly for division of Uttar Pradesh into four new states.

2G trial to be shifted to Tihar: HC

In a sudden move, the ongoing trial of the 2G spectrum allocation case was ordered to be shifted to Tihar jail from its present venue of the Patiala House court premises.

Special CBI Judge O P Saini, trying the case announced that the trial venue of the case is to be shifted as per a Delhi High Court notification, received by him Tuesday.

"In exercise of the powers conferred by section 9 (6) of the CrPC 1973, the acting Chief Justice and judges of this court (Delhi High Court) have been pleased to order that the trial of the 2G spectrum cases shall be held in Tihar court complex, New Delhi, according to law," read the notification issued by the high court.

Tomorrow's hearing, however, will continue in Patiala House court complex itself.

The judge announced the shifting of the trial venue of the case amid the ongoing cross-examination of key prosecution witness and HDFC Bank's Mumbai-based Vice President Uday Shahasrabuddhe.

The announcement by the judge triggered protests by former Telecom Minister A Raja, DMK MP Kanimozhi and other accused, who contended that the move was bereft of valid reasons.

Raja said, "I do not know what is happening in this country.

The defence counsel opposed the notification, saying if the trial is shifted to the Tihar jail, it would create a lot of inconvenience as everybody will have to get an entry pass to Tihar Jail made before attending the proceedings.

They will challenge the notification in the High Court.

Egypt unrest: Activists call for mass demonstrations

Egyptian activists have called for mass demonstrations after an overnight standoff between security forces and protesters in Cairo's Tahrir Square.

Thousands flocked to the square overnight after the cabinet offered its resignation to the military council.

At least 26 people have been killed and hundreds injured in three days of protests against the military rulers.

Amnesty International has criticised the military for failing to keep its promise to improve human rights.

Late on Monday some 20,000 people were estimated to have thronged Tahrir Square after the cabinet of Prime Minister Essam Sharaf announced its offer to resign.

Their numbers were far short of the hundreds of thousands whose demonstrations in the square earlier in the year led to the overthrow of Hosni Mubarak as president after 30 years in power.

But the square was again the scene of clashes between security forces and protesters determined to see the military transfer power to a civilian government.

A coalition of political groups has accused the military council of leading a "counter-revolution" and called for a mass demonstration on Tuesday.

Hundreds of people camped out in the square overnight.

The Supreme Council of the Armed Forces has not said whether it has accepted the cabinet's resignation.

A military source told there was no consensus among the council on whether to accept. The source said the council was also consulting with other political groups.

In a statement carried by the official Mena news agency, the council expressed its "deep regret for the victims in these painful incidents" and called for "the greatest degree of self-restraint".

On Monday evening, ambulances with sirens wailing were seen driving into the heart of the large city-centre square to ferry the injured to hospital.

The clashes began on Saturday following demonstrations against proposed constitutional changes unveiled by the interim government.

The military council produced a draft document setting out principles for a new constitution, under which the military and its budget could be exempted from civilian oversight.

A proposal by the military to delay the presidential election until late 2012 or early 2013 has further angered the opposition.

Protesters want the presidential vote to take place after parliamentary elections, which begin on 28 November and will be staggered over the next three months.

The unrest has cast uncertainty over the future of the elections but the military council has said they will go ahead.

Many people fear the military plans to hold on to the reins of power, whatever the outcome.

On Monday, protesters in Tahrir Square chanted "the people want the removal of the marshal" - a reference to Field Marshal Mohamed Tantawi, who heads the Supreme Council of the Armed Forces.

He has the task of overseeing the country's transition to democracy after three decades of autocratic rule under Mr Mubarak.

The ruling generals are the real focus of demonstrators' anger, says another BBC correspondent in Cairo, Yolande Knell. The interim cabinet is seen as having little power.

Monday saw further clashes between protesters and security forces, who fought running battles on the edges of the square and the nearby sidestreets leading to the interior ministry.

Shahrukh Khan honoured by UNESCO

Bollywood superstar Shahrukh Khan bagged a special award for his kindness at the 20th UNESCO Awards in Germany on November 10.

The King Khan became the first Indian to be honoured with this award. And along with the award, he came back with many fond memories of his interaction with Jet Li for his 14-year-old son Aryan, who is a huge fan of the Hollywood action hero.

According to the sources, "SRK was asked to be a part of the event in March this year by the Director General of UNESCO. Special UNESCO ambassador Mrs. Ohoven sent him the invite as well. However, since the actor was busy with RA.ONE, the actor couldn't confirm his availability till October."

Shahrukh Khan was also seen bonding with Hollywood action star Jet Li. Some of the other dignitaries who attended the gala event were Mikhail Gorbacheva, Noami Cambell and Ute Ohoven among others.

'Samsung in last-stage talks to launch Google TV'

Samsung Electronics, the world's top TV maker, is in last-stage talks with Google to roll out its Google TVs, the head of Samsung's TV division told reporters on Tuesday.

Google TV -- which currently comes built-in on certain Sony Corp television models and on Logitech International set-top boxes -- allows consumers to access online videos and websites on their TVs, as well as specialised apps such as video games.

Samsung in January displayed a new Google TV-enabled Blu-ray player and companion box at the Consumer Electronics Show (CES), but did not commercialise the offerings.

Yoon Boo-keun, president of Samsung's TV division, said the company planned to unveil its Google TV at an event next year without elaborating on the schedule, saying only the firm was working with Google on the rollout.

Samsung's Google TV service would differ from those of competitors, he said on the sidelines of a local forum.

Google in October unveiled a revamped version of Google TV service, hoping to making inroads into the living room despite consumers' lukewarm reaction to its initial offering.

Yoon also said Samsung plans to unveil TVs featuring next-generation OLED displays at the upcoming CES to be held in January in Las Vegas.

OLED displays produce crisp images and do not need backlighting, making them slimmer and more energy-efficient than LCDs, the most popular type of flat TVs.

Yoon expected the global flat-panel TV market to grow by about 10 percent next year despite economic uncertainty, helped by sales growth in internet-connected TVs and replacement demand. He also said Samsung was looking to outperform the market next year. TV makers are grappling with slowing demand and cutthroat competition that has squeezed margins.