Saudi prince: Movies and cinemas are coming

Riyadh (AP): A senior member of royal family says he is certain that one day there will be movie theaters in the conservative kingdom.

Prince Alwaleed bin Talal's who owns Rotana, a popular network of Arabic satellite channels airing movies and music videos, says cinemas and more Saudi movies are inevitable and have a "positive" social role in Saudi Arabia.

Alwaleed, whose company produced "Menahi," the first Saudi movie, added in today's statement that a new movie can be expected soon.

"Menahi," a comedy, has been shown in auditoriums in several Saudi cities in the past few months.

Movie theaters were banned 30 years ago in Saudi Arabia after the conservative clergy described them as un-Islamic.

Chavez sees Fidel twice in surprise Cuba trip

Havana (AP): Venezuelan President Hugo Chavez has met twice with the ailing 82-year-old Fidel Castro during a surprise 24-hour visit to Cuba.

Cuban state media says Chavez arrived Friday night on a working visit and was greeted by Fidel's younger brother President Raul Castro.

Venezuela's socialist leader fresh off a referendum win that allows him to run for re-election met with Fidel Castro Friday night and again shortly before departing Saturday.

There were no images of Chavez meeting with Fidel Castro, only with his younger brother.

Fidel has not been seen in public since mid-2006 when he underwent intestinal surgery and ceded power to Raul.

Three-book deal for Condoleezza Rice

New York (AP): Former Secretary of State Condoleezza Rice has agreed to a three-book deal with Crown Publishers, starting with a memoir about her years in the administration of President George W Bush.

"Rice will combine candid narrative and acute analysis to tell the story of her time in the White House and as America's top diplomat, and her role in protecting American security and shaping foreign policy during the extraordinary period from 2001-2009," according to a statement issued Sunday by Crown, a division of Random House Inc Crown also published then-Sen.

Barack Obama's "The Audacity of Hope." Rice's book is planned for 2011.

The deal is worth at least USD 2.5 million, according to two publishing officials with knowledge of the negotiations. The officials asked not to be identified, citing the confidentiality of the talks.

Rice, 54, also will write a memoir about her family, scheduled for 2012, and a young-adult edition of her family book that will come out at the same time. None of the planned works are currently titled.

A foreign policy adviser during the administration of the first President George H W Bush, Rice served as national security adviser and secretary of state under President George W Bush.

Netanyahu says he can work for peace with Obama

Jerusalem (AP): Prime Minister-designate Benjamin Netanyahu of the hardline Likud Party sought to calm concerns his incoming government will freeze peace efforts and upset relations with Washington, saying he can work with President Barack Obama to promote peace in the region.

"I intend and expect to cooperate with the Obama administration and to try to advance the common goals of peace, security and prosperity for us and our neighbors," Netanyahu told reporters, ahead of a meeting with visiting US Senator Joseph Lieberman. "I hope to do so in a unity government."

Netanyahu's comments came ahead of a crucial meeting with his chief rival, Tzipi Livni, in which he aimed to lure her into an alliance.

The meeting was their first since the deadlocked February 10 election. Bringing in the moderate Livni would reduce international pressure on Israel and provide more stability to Netanyahu's government. If he fails, he will be forced to team up with ultra-nationalists on his right in a narrow coalition that could prove unstable, halt peace talks with Palestinians and harm Israel's ties with the new US administration.

The two leaders met for more than two hours, and appeared before the cameras separately shortly before midnight.

Netanyahu said he and Livni found many points of agreement and their disagreement could be "overcome with good will." He did not divulge any details from the meeting.

Bangladesh plans major defence procurement

Dhaka (PTI): Prime Minister Sheikh Hasina's new government in Bangladesh has decided to launch a massive defence procurement drive to strengthen the armed forces and to equip them with modern weapons and military hardware.

Planning Minister Air Vice Marshal (retd) AK Khondoker told parliament yesterday that the purchases would be made during the current and next fiscals. He said the forces would be made well equipped and trained in line with the country's financial capabilities.

"For equipping the army, plans have been taken to procure helicopters, tanks, APCs (armoured personnel carrier), anti-tank and anti-aircraft missiles, sniper rifles, different types of modern radio systems, explosives, night vision and related hardware, other types of weapons and vehicles in 2008-2009 and 2009-2010," he told the house.

A process was now underway to procure three new frigates to earn the "three dimensional" capabilities for the navy to face the 21st centuries challenge, he said.

"A process to sign a procurement deal has been completed to buy appropriate anti-ship missiles for Bangladesh Navy's ultra modern frigate while it is now awaiting the government's final nod... Works are underway to install anti-aircraft missile in the ship (frigate)," Khondoker said.

Pondy to ban plastic commodities

Puducherry (PTI): Puducherry government has decided to strictly enforce the ban on plastic commodities in the Union Territory.

The decison to ban plastic commodities such as water cups and carry bags among other things was taken at a recent Cabinet meeting. The intention was to prevent blocking of drains during monsoon season by plastic goods, he said, while attending a function conducted by Women's Commission here.

The ban would come into force on July one, he said.

Police and local administration departments would strictly enforce the ban and the violators of the ban would be brought to book as per the decision of the Cabinet.

M Karunanidhi threatens to go on fast

Chennai (PTI): Stung by the unprecedented violence outside the Madras High Court, Tamil Nadu Chief Minister M Karunanidhi on Sundaynight threatened to go on a fast from his hospital bed if lawyers and police fail to find an 'amicable solution' hours after the advocates announced indefinite boycott of courts.

"Whether I need to go on fast is based on the decision you take," he said, adding the date for the fast would be announced later.

In a statement here, the DMK supremo said police and lawyers should erase the 'bitterness' that has cropped up following the violent clashes.

Hardening their stand against the police in the aftermath of the violence, lawyers associations in Tamil Nadu resolved to boycott all courts indefinitely ignoring calls by Chief Justice of India K G Balakrishnan to return to work. They also demanded the dismissal of the state and city police chiefs.

Sunday's developments came a day after the Madras High Court directed the city police to name on whose authority its force entered the court and lathicharged lawyers that left many injured and property destroyed.

A Bench comprising Acting Chief Justice S J Mukhopadhaya and Justices V Dhanapalan and K Chandru at a special sitting last night directed Chennai Police Commissioner and the Joint Commissioner (North) to give specific names and designations of police personnel at whose instance the action took place.

Shankar Aiyar urges Union Finance ministry to help Arunachal

Itanagar (PTI): The Union Minister for Department of North-East Mani Shankar Aiyar has forwarded to the Union Finance Ministry the request by Arunachal Pradesh Government for special Central assistance to meet the financial demand made by the striking state government employees.

Aiyar in a letter to Pranab Mukherjee, now in charge of the Finance Ministry, on February 19, said, "although this is not a matter which falls within the allocation of business rule for the ministry of DoNER, I thought I might give myself the liberty of bringing the issue to your attention as the administration has been paralysed for the last few weeks by the strike of the state employees agitating for remuneration on Sixth Pay Commission (SPC)."

He said a delegation of striking employees led by two BJP Lok Sabha members from the state, Kiren Rijiju and Tapir Gao, met him earlier on that day and gave him copy of their letter to the President urging assistance to the state government for implementation of the SPC for employees.

'Corporate culture' being promoted by Modi: Congress

New Delhi (PTI): The Congress on Sunday hit back at Gujarat Chief Minister Narendra Modi, alleging that "corporate culture" was being promoted by him and the BJP even as poor diamond workers were suffering in the state.

Reacting to the statement of Modi in which he had accused the Congress of "trying to puncture the Nano car project", party spokesman Shakeel Ahmed told PTI, "Modi and BJP are promoting corporate culture while the poor diamond workers are suffering in the state".

The war of words between the two parties began after Congress general secretary Rahul Gandhi charged the Gujarat government with doling out incentives worth crores of rupees to Tata's Nano project while neglecting diamond workers.

"What Rahul ji has said is right ... We are not against the Nano car project but at the same time, the Gujarat government is duty bound to protect the interests of the suffering diamond workers," Ahmed said.

Another party spokesman Manish Tewari alleged that Modi's neglect of diamond workers reflected his "utter insensitivity" to their plight and claimed the workers were being forced to commit suicide because of this.

"The CM of Gujarat can dole out crores of concession to the big fish of corporate India but he has no time or money for the hapless workers of the diamond industry whose blood and sweat has contributed to the making of brand Gujarat internationally," Tewari told PTI. ]Referring to the statement of Modi on BJP members being fishes in the ocean, Tewari remarked, "The CM of Gujarat is absolutely correct when he calls himself a fish in the ocean ... But he is the species of a fish called Pirana."

A R Rahman dedicates Oscars to god, mother

Los Angeles (PTI): Ella pughalum iraivanuke (All glory and fame is to god)" was how music maestro A.R. Rahman reacted to his double-Oscar feat.

Besides god, the 'Mozart of Madras' also dedicated his Oscars to his "loving" mother Kareema Begum, who was seated among the audience at the Kodak Theatre.

Rahman has always dedicated his awards to them. "I always had a choice between love and hate in my life. And I chose love and I am here," a beaming Rahman said at the Awards Ceremony.

Having shouldered the responsibilities of his family at the tender age of nine, Rahman never had an opportunity to get proper education in his life.

Begum had in an interview to a Tamil weekly had said she will feel bad forever for not giving her son an opportunity to enjoy his childhood days.

NCP will contest in seven Lok Sabha seats: Murali

Palakkad (PTI): Ruling out the possibility of supporting the Congress in the Lok Sabha polls in Kerala, NCP state President K Muraleedharan on Sunday said his party would put up candidates in seven seats and would adopt a tactical approach in the remaining 13 constituencies.

Lashing out at the Congress leadership in the state, he said as the main opposition that party had failed to mobilise the people against the LDF rule.

Even if people wanted to vote against the LDF, the Congress in the state would mar its own prospects, Muraleedharan, now on his Nava Sendesa Yatra, told reporters here.

BJP to focus on winning more seats on its own

New Delhi (PTI): With the search for new "friends" apparently not yielding much result, the BJP is now focussing on winning more seats in the coming Lok Sabha polls "on its own strength".

Its PM candidate L K Advani underlined this strategy when he suggested that the party is no longer on the lookout for new allies and is targeting to increase its own tally.

"No, we have to fight on our own strength. Allies don't come for nothing, alliances happen on the basis of our own strength... The stronger we get, the more allies we fetch," Advani told cadres in Gandhinagar this weekend when a worker asked if more allies were slated to join the NDA.

The change in strategy reportedly came after a meeting between the top brass of the party and the RSS last month. The RSS leaders had then suggested allies would line-up in the post poll scenario if the party gets a "decent figure".

Else, the risk of the existing allies deserting the coalition for greener pastures looms large," party sources said. The saffron party failed to attract new allies despite projecting itself as the only formidable force which can take the nation ahead from "despair to hope".

Advani's statement comes a week after AIADMK chief Jayalalitha made overtures to the Congress for a possible alliance dashing hopes of a BJP to tie up with her party in Tamil Nadu.

The BJP has also drawn blank on getting an ally in Andhra Pradesh and has lost an important ally in West Bengal in the form of Trinamool Congress. the hindu

Patna HC order to SBI on PO Exam results

The Patna High Court on Friday issued a notice to the State Bank of India stating that publication of the result of its recent competitive examination for the post of probationary officer (PO) would be subject to the outcome of a writ petition pending before it.

A single bench presided by Justice Ajay Kumar Tripathi passed the order on the writ petition of one Ratnesh Kumar who alleged that he was not allowed to appear at the interview despite having been called for it after clearing the written test.

Petitioner’s counsel Vijay Kumar submitted when the petitioner went for the interview on February 11, he was told that he was not eligible because he had not secured aggregate 55% marks each at pass course and honours levels.

The petitioner has pleaded that one of the eligibility criteria mentioned in the advertisement for the vacancies was “55% marks at graduation level”. Since he has this score at the honours level, he should have been allowed to face the interview.

Source - Time of India

BJP confident of poll tie-up with RLD: Rajnath Singh

New Delhi, Feb 21 (PTI) Amid rumours of Rashtriya Lok Dal chief Ajit Singh cozying up to Congress for a poll tie-up, BJP president Rajnath Singh today said the saffron party was "confident" of forging an alliance with the RLD.

"We are confident and an alliance would be announced soon. There is no reason for it (RLD-BJP alliance) not to happen," Rajnath Singh told reporters here.

The alliance is crucial to Rajnath Singh personally since a lot would depend on the help rendered by the RLD for him to win the Gaziabad seat in western Uttar Pradesh.

Posters and banners have already come up across Gaziabad with Rajnath praising RLD patron and former prime minister Charan Singh as the "messiah of farmers." The BJP, which is in talks with the RLD since August last year, has not yet been able to finalise a seat-sharing formula amid rumours of its leader Ajit Singh cozying up to Congress to "explore possibilities" of his party in UPA.

The saffron party has set a deadline of February-end to finalise all its seats for the upcoming Lok Sabha polls. PTI

Modi criticizes Rahul; Congress says BJP is anti-people

: Surat/New Delhi, Feb 21: Gujarat Chief Minister Narendra Modi on Saturday criticised Congress leader Rahul Gandhi, asking him not to comment on the state’s economic initiatives. The Congress responded by saying that Modi’s Bharatiya Janata Party (BJP) was pro-corporate and had little concern for masses.

“Some people come from Delhi and give us advice on the Tata Nano project without full information,” Modi said in Surat.

He was reacting to Congress general secretary Rahul Gandhi’s criticism of the Gujarat government. Gandhi, while visiting Surat on February 14, had said the Modi government had doled out special favours to Tata Motors for shifting its small car Nano project from West Bengal to Sanand.

Referring to the downturn in the Indian diamond polishing industry, most of which is concentrated in Surat, Modi said: “It is for the central government to take care of the diamond industry. My government has already given VAT concessions.”

In reply, the Congress said the basic problem with the BJP is its ideology which is pro-corporate and has nothing to do with the masses.

“It is the fault of the party ideology which supports the corporate world. It is extremely sad that in the land of Mahatma Gandhi, the corporate world is favoured who are earning crores of rupees,” Congress general secretary Digvijaya Singh said in New Delhi.
“The Modi government has nothing to do with medium and small scale industries,” he added. (IANS)

PSU oil cos incur Rs 460-crore loss

NEW DELHI, Feb 19 (PTI): Public sector oil companies lost about Rs 460 crore because of the three-day strike by their executives last month, Petroleum Minister Murli Deora said today.

“A section of officers of the oil PSUs had gone on strike from January 7 to 9,” demanding higher wages, he said in a written reply to a question in Lok Sabha here. The executives were demanding risk pay, fitment benefits, increase in quantum of dearness allowance (DA) to be considered for fitment benefits, periodicity of pay revision reduced to five years and annual/stagnation increments.

“The estimated total loss as reported by the oil PSUs is Rs 459.67 crore,” he said. A Committee of Ministers under Home Minister P Chidambaram has already been constituted to look into issues relating to pay revision in the oil sector, he added.

Profit: To a separate question, Minister of State for Petroleum and Natural Gas Dinsha Patel said the Oil and Natural Gas Corp (ONGC) has seen its net profit climb to Rs 13,919 crore in April-December period of the current fiscal against Rs 16,702 crore in full 2007-08 fiscal because of higher price realisation on crude oil it sold.

Similarly, the Oil India reported a net profit of Rs 1,858.91 crore in the three quarters against Rs 1,788.93 crore in 2007-08.

Separately, Patel said the Indian Oil Corp is expected to start site construction work for its proposed oil refinery at Paradip in Orissa during the first quarter of 2010.

“Total of 3,344 acres of land has been acquired for Paradip refinery project. After reclamation of the entire land and completing pre-project activities, the site construction work is expected to commence during the first quarter of 2010,” he said. The 15-million tonne per year refinery will cost Rs 29,777 crore. The cost of adjacent petrochemical complex will be additional to this.

Patel said due to very high estimated cost of refinery- cum-petrochemical complex at Paradip, the Project Evaluation Committee (PEC) at its meeting held on May 26, 2008 decided that only refinery (without petrochemical complex) would be built in the first phase of the project.

Centre examining FDI in aviation sector

NEW DELHI, Feb 19 (PTI): The government today said it is examining a proposal to allow foreign airlines to invest in domestic airlines as well as state-owned Air India.

In a written reply in Lok Sabha, Minister of State for Civil Aviation Praful Patel said, “The proposal to allow foreign airlines to invest in domestic airlines is under examination.”

He was replying to a question whether the government is considering a proposal to allow Foreign Direct Investment (FDI) in domestic airlines, including public sector Air India.

Asked if Air India has opposed such a move, he said, “No such representation has been received from the Air India on change in FDI policy.”

Meanwhile, in a separate question Patel said the Board of Airports Authority of India (AAI) has approved ‘in principle’ AAI’s proposed VRS for employees of IGI Airport, Delhi and CSI Airport, Mumbai.

He said the Voluntary Retirement Scheme (VRS) is to be partly financed by the Joint Venture companies operating the Delhi and Mumbai airports.

CIC directs information on appointment

Law Reporter
GUWAHATI, Feb 13 – The full bench of the Central Information Commission (CIC), New Delhi, after hearing an appeal filed by DK Mishra, senior advocate, Gauhati High Court delivered the decision on February 11, directing the Central Public Information Officer (CPIO), Ministry of Law and Justice, Govt of India to disclose the information regarding views expressed by the State of Nagaland and the recommendation of the Supreme Court Collegium to the Govt of India regarding the appointment of judges in the Gauhati High Court. The Commission further held that the opinion given by Justice Brijesh Kumar and Justice H.K. Sema, both judges of the Supreme Court at the relevant time who were once the Chief Justice and the acting Chief Justice respectively of the Gauhati High Court, however could be considered to be information provided by third party in confidence. As such, before disclosing the same, the Commission held that it would be necessary on the part of the CPIO to hear them or to take their views in as much as this part of information clearly attracts Section 11(1) of the Right to Information Act, 2005 and therefore, disclosability of information can be determined only if the competent authority is satisfied that larger public interest warrants such disclosure.

The appellant DK Mishra, initially submitted an application in November, 2006 to the CPIO under the Right to Information Act seeking the information given by Justice Brijesh Kumar and Justice HK Sema along with the views expressed by the State of Nagaland and the recommendation made by the Supreme Court Collegium to the Govt of India concerning the appointment of judges in the Gauhati High Court.

Declining to provide the information, CPIO informed the applicant that the type of information which he sought is provided by the persons contending to be the judges as well as the information collected from various other sources by the Supreme Court in order to equip the Apex Court to discharge its constitutionally ordained role of advising the President of India regarding who to appoint as judges in the nation’s highest judicial bodies and therefore, is provided by the third party and attracts Section 11 of the RTI Act. The CPIO also stated that the information further attracts exemptions under Section 8(1) Sub-section (e) being information given to the Chief Justice of India in trust and in confidence by those under consideration for selection. Disclosing any such information will be violative of this fiduciary relationship, it held.

Aggrieved with the decision of Central Public Information Officer, Mishra approached the first appellate authority and submitted an appeal under Section 19(1) of the Right of Information Act. The first appellate authority rejected the application. In the appeal before the Central Information Commission, it was argued that the Supreme Court in its judgement reported in (1993) 4 SCC 441 (referred as second judges case) held that all opinions expressed in the process of such consultation must be in writing and kept on record and therefore, such consultation can not be termed as involving confidential third party information and therefore, it is wholly incorrect to hold that it attracts the provisions of Section 11 (1) of the RTI Act.

The appellant’s further contention was that it would be difficult for an advocate to be appointed as judge if for some reason or the other he is not liked by a judge of the Supreme Court. Therefore, unless transparency is made the order of the day, the possibility of intrusion of arbitrariness cannot be ruled out.

The Commission after hearing the appeal interalia directed the CPIO, Ministry of Law and Justice to disclose the views expressed by the State of Nagaland and recommendaton made by the Supreme Court Collegium to the Govt of India concerning the appointment of judges in the Gauhati High Court within a period of ten working days from the receipt of the order.
source: assam tribune

Gold drops by Rs 100 on profit-selling, weak global cues

Gold drops by Rs 100 on profit-selling, weak global cues

New Delhi, Feb 9 (PTI) Gold prices fell by Rs 100 to Rs 14,250 per 10 gram in the national capital today on weakening trend in global markets and stockists booking profits at existing higher levels.
Selling pressure gathered momentum on fresh profit selling by stockists in line with weakening global trend. The metal gained Rs 290 in the last four trading sessions.

Global markets, which normally set prices in domestic markets here, reported fall of 0.4 per cent to 907.70 dollar an ounce.

Sentiment dampened and even an ongoing marriage season failed to catch up demand among jewellery fabricators.

Standard gold and ornaments fell by Rs 100 each to Rs 14,250 and Rs 14,100 per 10 gram, respectively. Sovereign, however, gained Rs 25 to Rs 11,100 per piece of eight gram on scattered buying.

On the other hand, silver ruled flat at Rs 20,100 per kg in limited deals, while silver weekly-based delivery shot up by Rs 220 to Rs 20,720 per kg on speculative support.

Silver coins continued to be asked around previous level of Rs 28,000 for buying and Rs 28,100 for selling of 100 pieces. PTI

Sensex surges to month's high, gains 283 pts

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Sensex surges to month's high, gains 283 pts

Mumbai, Feb 9 (PTI) The BSE benchmark Sensex today rose by 283 points to reach the month's highest levels on aggressive buying by funds on expectations that the economy might expand faster with the RBI suggesting interest rate cuts.
The Sensex, which had recorded a gain of 210 points on Friday, added another 283.03 points at 9,583.89, a level last seen on January 7. It moved between 9,601.56 and 9,329.23 points during the day.

Similarly, the 50-share National Stock Exchange index Nifty shot up by 76.80 points at 2,919.90, after moving between 2,926.75 and 2,840.15 points during the day.

Marketmen said the not so bad GDP growth rate projected by the government and likely cuts in interest rates by the RBI might boost the metals and heavy machinery segments.

They said other major supporters to the market were consumer durables and refinery stocks.

Reserve Bank Governor D Subbarao had said there is room to adjust interest rates further.

Sentiment got a boost after Planning Commission Deputy Chairman Montek Singh Ahluwalia said the 7.1 per cent projected growth rate in the current fiscal is good and a fiscal stimulus package should be given next fiscal.

As the market turned cheerful, barring Hindustan Unilever, all the 30 Sensex stocks were higher on wide-spread buying support. PTI

China warns India on banning toy imports

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China warns India on banning toy imports

Beijing, Feb 9 (PTI) China today voiced "serious concern" to India over its blanket ban on importing Chinese toys, asking New Delhi to show "prudence", since its intensive use of trade remedies could pose a "serious threat" to booming bilateral trade ties.
"China hoped that India could show prudence and restraint in using trade remedies in the face of the global economic situation, as it could pose a threat to bilateral trade," the Chinese Ministry of Commerce (MoC) said in a statement.

The statement came after Chinese Deputy Commerce Minister Zhong Shan met Indian Ambassador to China Nirupama Rao here on February 3 here on the issue.

Expressing "serious concern" over India's intensive trade probes, the ministry said it hopes to avoid substantial impacts on bilateral trade.

On January 23, India announced a six-month ban on all imports of Chinese-made toys.

The Indian commerce ministry has alerted the customs authorities to ensure that Chinese toys do not enter the Indian ports through a third-country route. Prohibition shall be applicable on all such toys that have originated from China, irrespective of the country of import. PTI

Dinesh Keskar to lead Boeing India

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Dinesh Keskar to lead Boeing India

Seema Hakhu Kachru
Houston, Feb 10 (PTI) Indian American Dinesh Keskar has been appointed by the world's leading aerospace company and the largest manufacturer of commercial jetliners and military aircraft, Boeing Company, to lead Boeing India from March.

The Boeing on Monday named Ian Thomas President of Boeing Australia and South Pacific, and Dinesh Keskar Vice-President of Boeing International and President of Boeing India.

Keskar, 54, originally from Rajkot, India, will represent the entire enterprise and be responsible for leading Boeing-wide efforts focused on expanding the company's local presence and pursuing new growth and productivity initiatives.

Prior to this appointment, Keskar served as Boeing Commercial Airplanes Vice-President of Sales for South and Southeast Asia, and was responsible for overseeing all activities for that business within the region. "Dinesh has a proven track record for sales and market development in India," said Shephard Hill, President of Boeing International.

"He is a well known and recognized expert in India's aerospace community. Dinesh has the experience, market knowledge and expertise to further enhance our partnership and collaboration with India," Hill said. PTI

Rupee falls by 14 pais

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Rupee falls by 14 paise to 48.71/72 Vs dlr in early trade

Mumbai, Feb 10 (PTI) The Indian rupee fell back by 14 paise to 48.71/72 against the greenback in late morning deals due to firm dollar and expectations of passing of USD 829 billion economic recovery package in the US Senate today. At the Interbank Foreign Exchange (Forex) market, the local currency resumed lower at 48.68/69 per dollar from last close of 48.57/58 and moved further downwards to quote at 48.71/72 in late morning deals, snapping a three-day winning string. It moved in a range of 48.65 and 48.79 a dollar. The dollar was up against its major rivals in the Asian trade today in anticipation of passage of the stimulus package by the US Senate today. The Indian benchmark Sensex maintained its upward rally and rose by over 70 points in morning trade today. However, Asian indices were quoting narrowly mixed in late morning trade on the back of nearly flat closing on the Wall Street yesterday. Meanwhile, global crude oil prices were quoting below USD 40 a barrel in Asian trade today. PTI

Promoters of five Tata Group firms pledged 111 crore shares

Mumbai, Feb 10 (PTI) The promoters of five Tata Group firms including Tata Steel, Indian Hotels and Tata Coffee have pledged nearly 111 crore shares, representing a significant part of their holdings, in each firm with lenders.
In aggregate, the value of the total shares of the five Tata Group companies pledged by the promoters has been estimated to be close to Rs 7,000 crore as per yesterday's closing price of the various firms.

Analysts believe the recent cross-border and multi-billion dollar acquisitions by the Tata Group have led the conglomerate to raise funds through several routes including pledging shares.

"(The) Tata Group, which was in an acquisition and expansion mode during the bull phase, had resorted to various means of raising funds that include pledging shares," Ashika Stock Brokers' research head Paras Bothra said.

There is no surprise element in such share pledging as the Group is extremely leveraged and its businesses are cyclical in nature, Bothra added.

Indian Hotels Company today said one of its promoters, Tata Sons, has pledged 2.50 crore shares representing a 3.46 per cent stake in the company, according to a disclosure filed to the Bombay Stock Exchange. PTI

Bajaj Auto promoters pledge 2.57 pc stake

Mumbai, Feb 10 (PTI) Two- and three-wheeler maker Bajaj Auto today said that four of its promoters have pledged a 2.57 per cent stake of the company for an undisclosed amount.
In a filing to the Bombay Stock Exchange, the company said that four of its promoters have pledged 3,723,961 shares representing a 2.57 per cent stake in the company.

Jamnalal Sons has pledged a 2.33 per cent stake representing 3,376,111 shares, Baroda Industries 0.14 per cent representing 2,02,000 shares and Bachhraj Factories a 0.10 per cent stake representing 1,45,000 shares of the company.

Further, Mukand Global Finance has pledged its entire stake, that is 850 shares of the company, the filing added.

The disclosure of pledged shares by Bajaj Auto comes following the market regulator SEBI asking promoters of the listed companies to disclose the amount of shares pledged with lenders.

The regulator's announcement comes in the wake of the Satyam scam, wherein promoter Ramalinga Raju had pledged nearly all his shares -- whose prices he had inflated by falsifying profits.

Shares of Bajaj Auto were trading at Rs 470.25, up 2.34 per cent on the BSE. PTI

Govt to borrow Rs 46,000 cr more from market in four tranches

New Delhi, Feb 10 (PTI) The government will borrow an additional Rs 46,000 crore from the market in four tranches from February 20 to March 20 to finance extra expenditure incurred to stimulate the slowing economy.
The government, however, assured that the borrowings, to be carried out through dated securities, will not result in any liquidity crisis.

"We had discussions with the Reserve Bank. Borrowing (extra) between February 20 and March 20 is going to be Rs 46,000 crore", Economic Affairs Secretary Ashok Chawla told reporters after meeting RBI Deputy Governor Shyamala Gopinath.

The government will be borrowing Rs 46,000 crore through dated securities in four tranches, he added.

Meanwhile at a separate function, Planning Commission Deputy Chairman Montek Singh Ahluwalia said, "There will be no liquidity crisis (because of extra market borrowings)." Ahluwalia said any deficit has to be met by borrowing and if stimulus is needed borrowing is a must. It has to be driven by borrowing, he said adding there will be no difficulty in accommodating the government borrowings.

"You can only have a next stimulus if you have a fiscal deficit. Our view in the Planning Commission is consistent that the best way of doing stimulus is well designed expansion in expenditure," he said. PTI

Airlines stop low-fare schemes; travellers to pay more

New Delhi, Feb 10 (PTI) Domestic air travellers will now have to pay more with major airlines today saying they have withdrawn the low base fares like those rated at Rs 99, and some no-frill carriers deciding to follow suit over the next few days.
Air India, Jet Airways and Kingfisher Airlines have decided to stop the low-fare advance purchase (APEX) schemes, saying the airfares would now be decided by the market. However, the regular fares and the fuel surcharge are not being touched, spokespersons of these airlines said.

Air India, which sold the lowest-priced ticket at Rs 89 on certain sectors, is now selling them at a base fare Rs 486, plus taxes and fuel surcharge. Sources said some tinkering was being done on the lower class economy fares and "some revision" was being effected.

When contacted, a Jet Airways spokesman said the airline "adjusts fares on a regular basis depending on the market conditions. Recently, the fares have been adjusted on certain sectors and fare buckets. The effected changes are a day-to-day practice in the revenue management of the airline".

However, the full fares on both economy and business classes as well as the fuel surcharge was not being changed, he added. PTI

Sensex gains for third day on rate cut hopes

Mumbai, Feb 10 (PTI) The Bombay Stock Exchange benchmark Sensex maintained an upward march today, adding over 63 points on sustained buying by funds due to expectations of interest rate cuts and another stimulus package.
The Sensex, which had recorded a handsome gain of 493 points in the last two trading sessions, added another 63.58 points at 9,647.47, after touching the day's high of 9,724.87.

The 50-share National Stock Exchange index Nifty rose 14.60 points to 2,934.50. It scaled to a high of 2,957.40 during the day.

The rally was driven by banks, and interest-sensitive sectors like realty and auto on reports that the Reserve Bank of India might cut interest rates to spur the economy.

Foreign funds bought fundamentally strong shares ahead of the US economic rescue plan, to be announced later tonight.

The realty sector index gained the most, by 6.58 per cent, to 1,536.13, on hopes that interest rate cuts might bolster demand for homes. Shares in real estate firm Unitech Ltd rose 9.45 per cent to Rs 31.85, after the company said it expects to receive a new business from Telenor this quarter. The second major DLF Ltd surged by 9.05 per cent to Rs 152.50.

Capital goods was the second-best performer, rising 3.14 per cent to 6,484.30, following a steep rise in engineering major Larsen and Toubro, and state-run power equipment maker Bharat Heavy Electricals Ltd. PTI

Sensex up by another 64 pts to over one-month high

Sensex up by another 64 pts to over one-month high

Mumbai, Feb 10 (PTI) Although the benchmark Sensex pared a major part of its mid-session gains on sluggish European cues, it ended in positive terrain for the third straight day at over a one-month high on expectations of tax sops in the forthcoming interim general budget.
The market resumed on a cautious note due to narrowly mixed trends in Asian bourses on the back of some weaknesses on Wall Street yesterday due to concerns about the effectiveness of the modified bank-rescue plan, to be passed by the US Treasury today.

However, expectations of some tax sops in the forthcoming interim budget to be announced on February 16 pushed the Bombay Stock Exchange 30-share Sensex up by nearly 141 points to the day's high of 9,724.87, the level not seen since January 6, 2009.

However, weak European markets weighed on the local bourses and it fell to conclude at 9,647.47, a rise of 63.58 points or 0.66 per cent over the previous close. In the last two days, the index had gained by 493.01 points or 5.42 per cent.

The 50-share Nifty of the National Stock Exchange also rose by another 14.60 points or 0.50 per cent to 2,934.50 from its last close. Realty and capital goods counters attracted good buying support while metal shares suffered losses. PTI

Cancel missile system contract to Israeli firm: Left

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Cancel missile system contract to Israeli firm: Left

New Delhi, Feb 10 (PTI) Opposing the grant of a contract to an Israeli defence firm for supply of missile defence systems, the Left parties have asked the government to cancel the Rs 10,000 crore deal and not "subvert" India's own missile programme which was superior.
It was surprising that "such a contract has been given when the Israel Aircraft Industries (IAI) is already under investigation of the CBI on charges of bribery and corruption for the anti-ship, ship-mounted Barak missile system," top Left leaders, Prakash Karat and A B Bardhan, said in a signed letter to Prime Minister Manmohan Singh.

Maintaining that the alleged "violation of Indian laws" by IAI had been brought to the Prime Minister's notice earlier, the General Secretaries of the CPI(M) and CPI said India had in the past blacklisted Swedish firm Bofors and South African company Denel for similar cases of kickbacks and middlemen.

They alleged that the deal "brings out the unfortunate influence the Israeli arms manufacturers including government-owned entities assert on India's arms purchases." "Nothing else can explain why IAI, which is seriously implicated in corruption in India, should be favoured in this way," Karat and Bardhan said in the letter. PTI

Vehicle Suppliers Association

Vehicle Suppliers Association, MEMA / OESA, Engages Ducker Worldwide as Advisor
TROY, Mich., As a result of the ongoing credit crisis and resulting reductions in automobile production, the Motor & Equipment Manufacturers Association (MEMA) and Original Equipment Suppliers Association (OESA) are exploring options to address the immediate cash needs and longer term viability of the motor vehicle parts supplier industry. To assist in development of proposals for alternative government backed credit facilities, OESA has engaged Ducker Worldwide as an advisor to the team.

Ducker's advisory practice serves the automotive industry by providing current market information and independent advice as suppliers work with lenders and OEM customers in the areas of strategy, balance sheet recapitalization and mergers & acquisitions. Ducker Worldwide, is based in Troy, Michigan and has provided market research and strategic growth planning services for over 40 years.

Source : www.theautochannel.com (2/8/2009)

Bajaj Auto unveils new bike

Bajaj Auto unveils new bike
Bajaj Auto Ltd on Saturday launched its new motorcycle XCD 135 DTS-Si. This is part of the company�s initiative to increase its market share to 35 per cent from the current 20 per cent in Tamil Nadu. Announcing the launch the Regional Manager (Tamil Nadu & Puducherry), Mr S. Manoj Kumar, said in the 135 cc to 150 cc segment the company�s current market share in the State is 5 per cent. In addition to XCD 135, the company will introduce two more bikes in Apr il and July, which will together help notch 35 per cent market share target in less than a year. The company hopes to sell 4,000 units of the new bike in the remaining two months of this fiscal. Market share for the company dropped primarily due to economic slowdown and poor availability of finance. As part of its revival programme, the company is aggressively promoting its finance arm Bajaj Auto Finance Ltd.
Source : Business Line (Online Edition) (2/8/2009)

Bajaj to roll out KTM

Bajaj to roll out KTM bike by May
PUNE: The countrys second-largest two-wheeler maker Bajaj Auto is expected to roll out the first of its KTM bikes in India to coincide with the festive season this year, reports Our Bureau.

According to company officials, KTM bikes, initially launched as completely knocked down (CKD) kits , will happen by the second half of the next fiscal. However, for Bajaj Auto, excitement with the niche high-end bikes will begin in mid-May, when the Kawasaki Ninja 250R is expected to hit the roads.

Its price tag is expected to be in the range of Rs 2.5-3 lakh, company officials said. Bajaj Auto MD Rajiv Bajaj has been quoted as saying that the Kawasaki Ninja 250R would come in as a CBU product, priced at over Rs 2 lakh. Meanwhile, the automotive major is rolling out its latest offering, the XCD 135 cc DTS-Si bike, which is available with drum brakes.

Vikalp Kapoor, regional manager, two-wheeler sales, Maharashtra, said the bike, fitted with disc brakes, will come into the market by the weekend. It is priced at Rs 47,000, ex showroom Pune. The entry-level XCD 135cc bike is priced just Rs 2,000 more than the XCD 125 cc, at Rs 43,000.

Bajaj Autos move to strengthen its position in the value segment will see the launch of two bikes over the next 4-5 months, starting with a 125 cc bike by March-April and another by May-June.

Source : Economic Times (2/8/2009)

Corp Bank pact with Maruti Suzuki

Corporation Bank has announced a strategic tie up with Maruti Suzuki India Ltd for financing Maruti Suzuki vehicles on an all-India basis. According to the agreement, Maruti Suzuki India Ltd has nominated Corporation Bank as its preferred financier for financing Maruti vehicles. A bank release said here that Corporation Bank will offer financing facilities to the eligible customers for purchasing Maruti Suzuki vehicles through its branches. The combination of the expertise and the reach brought to the table by the two institutions will provide the customer much easier and quicker credit facilities, it added. Source : Business Line (Online Edition) (2/8/2009)

Insurance premium earnings to grow

NEW DELHI, Feb 8 (IANS): General insurance premium earning is likely to grow at 20 percent annually over the next six years and top the Rs 1-trillion (Rs 100,000-crore) mark by 2015, says an industry report released Sunday. The Associated Chambers of Commerce and Industry of India (ASSOCHAM), in a joint study with the United India Insurance Co, also said the massive increase in premium earning from Rs 280 billion (Rs 28,000 crore) currently would be on account of increased awareness.

The study said the earnings from premium grew at compounded annual growth rate (CAGR) of 16.6 percent between 2000-01 and 2007-08.

In 2000-01, the gross premium stood at Rs 96.2 billion (Rs 9,620 crore) and touched Rs 281.38 billion (Rs 28,138 crore) in 2007-08, the study said.

”The huge market largely remains untapped in both rural and urban India as 70 percent of the population is still not touched by insurance companies,” said ASSOCHAM president Sajjan Jindal while releasing the findings.

”High growth in healthcare sector will also open up health insurance potentials substantially,” he added.

However, the study said the size of India’s general insurance industry– at Rs 310 billion (Rs 31,000 crore) - was low when compared to that of the US, which is Rs 2.44 trillion (Rs 2.44 lakh crore), or France (Rs 3.7 trillion/Rs 3.7 lakh crore), Germany (Rs 3.85 trillion/Rs 3.85 lakh crore) and even China (Rs 1.32 trillion/Rs 1.32 lakh crore).

Invest in proper schemes to avail tax benefits

GP Baroowa
This is the time now for tax saving device. Generally employees look for the best tax saving devices during the month of February. I have started receiving calls from the readers of our column as to what would be the best tax saving devices during this fiscal. It is a genuine query and needs to be addressed.

The total limit of tax exemption under section 80 C is Rs 1 Lakh only per annum. All the employees would get the benefit of Provident Fund deduction from its employers. After receiving the benefit from Provident Fund the gap shall have to be filled up by subscribing to other tax saving devices. The tax saving devices are- PPF, Life insurance, ELSS, NSC certificate, ULIP, senior citizens fund, bank fixed deposit and post office fixed deposit.

My suggestions are- insurance and PPF. Both insurances and PPF do not really suit senior citizens. I have advised some of my senior citizen friends to subscribe to banks fixed deposit or in SCSS for five years to avail the benefit of 80 C benefits. Some of my friends are holding PPF even after expiry of mandatory 15 years period. These friends were advised to put their money, for 80 C benefit, in PPF account only. However only Rs. 70,000 can be kept in PPF. Then where to keep the balance amount of Rs 30,000 to enable them to avail full tax benefit? For senior citizen best bet is to keep the money in banks FD or SCSS for five years, in case he has no PPF account.

NSC is good but investors have to pay tax on interest unlike PF, PPF and ULIP. So, the persons who have existing PPF account they can put the money there. It would help them greatly and if they need money in emergency they can take it out too, after completing seventh year.

I asked a few young friends as to why they did not like to put money in ELSS? They replied the stock market has crashed and they felt that was not the time to buy ELSS. I explained to them that the best time to buy ELSS is now, because the market has crashed and the NAV (at which price they would be able to buy) is the lowest. Some economists friend of mine calculated the compounded annual growth returns (CAGR) of both ELSS and fixed income instrument. It was found that in a period of five years compared to fixed income instrument ELSS have given better returns in spite of the great financial downturn. One of my intimate friends subscribed to ELSS in 2003. He confirmed that he is still in profit despite the fact that share market came down to 8900 from 21000. Yes, his investment in 2003 is still in profit... The share market never remains dormant for a very long- term. The financial mayhem has brought in recession surely but it is nothing compared to experiences of the great depression.

It would be worth mentioning that the return of last five years in ELSS is much better than fixed income instrument. Magnum Tax gains return is 27.25% and Sundaram Tax gains return is 22.59%. HDFC Tax saver gave 20.56% return. Whereas the highest return in fixed income instrument like bank FD and senior citizen scheme gave 9.31% and PPF and NSC gave around 8.16%. Young employees do not need to be afraid of. To me ELSS is the best Tax saving instrument for the young investors. For senior citizen, Bank FD, SCSS would be better if no valid PPF account is available.

Readers can send their feedback at gpbarua@yahoo.co.in
source: assam tribune

Raju, brother, CFO in protective custody: Damodaran

Ahmedabad, Feb 7 (PTI) The scam-hit Satyam Computer founder B Ramalinga Raju, brother Rama Raju and ex-CFO Srinivas are in "protective custody", former Securities and Exchange Board of India (SEBI) Chief M Damodaran said here today.
He was replying to a query during a seminar of 'Venture Capital-Leverage' at IIM-A on inability of SEBI to question Ramalinga Raju due to some alleged legal restrictions.

Referring to his definition of protective custody, Damodaran said, "This is a peculiar case in which the police produced a person before the court and was granted judicial custody, not police custody." Normally, cops insist for police custody in order to talk to them first and extract vital details. That is why they arrest people, he added.

"Instead, the police happily handed over them in judicial custody, so that SEBI needs to get court's permission first," Damodaran said.

"This is what I call that Ramalinga Raju, his brother Rama Raju, and Chief Financial Officer (CFO) Vadlamani Srinivas are in protective custody," he added.

"I don't know how the law will help when the state decides to provide protective custody," Damodaran said. PTI

US Senate imposes strict conditions on H-1B hiring

Lalit K Jha
Washington, Feb 7 (PTI) In what could be seen as a setback to Indian IT professionals, the US Senate has voted for imposing strict conditions on hiring of people with H-1B visas by American companies receiving federal bailout money.

The amendment to the pending stimulus bill restricting the hiring of foreign workers, passed by the Senate through a voice vote yesterday, was a watered-down version of what was introduced earlier.

The original amendment had called for a blanket ban on H-1B hiring by companies that would have received money under the Troubled Assets Relief Programme (TRAP).

The amendment approved by the Senate was co-sponsored by Republican Senator from Iowa, Chuck Grassley, and independent Senator from Vermont, Bernie sanders.

The modified amendment requires that a company receiving TARP funds and applying for workers under the H-1B process must operate as an "H-1B dependent company." This means, explained Grassley in a statement, that the companies will still be able to hire H-1B visa holders, but must comply with the H-1B dependent employer rules which include attesting to actively recruiting American workers; not displacing American workers with H-1B visa holders; and not replacing laid off American workers with foreign workers. PTI

Senate deal to ensure approval for Obama's stimulus package

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Senate deal to ensure approval for Obama's stimulus package

Washington, Feb 7 (PTI) Against a backdrop of rising unemployment in the US, Senate Democrats have reached an agreement with Republican moderates to guarantee the approval of President Barack Obama's USD 780 billion recovery plan.
A group of moderate lawmakers announced a bipartisan agreement yesterday following some tough negotiations on the USD 780 billion mega stimulus package. At USD 780 billion, the legislation would be smaller than the measure that cleared the House of Representatives on a party-line vote last week.

In essence, the Democratic leadership and two centrist Republicans announced they had agreed on about USD 110 billion cuts to the roughly USD 900 billion legislation a deal expected to provide at least the 60 votes needed for approval in the Senate and put it for negotiations with the House, which has passed its own version.

The pact, which is expected to be approved early next week, was finaalised hours after the Labor Department announced that 598,000 jobs were lost in January. It showed the US unemployment rate surged in January to 7.6 percent, the highest since 1992, while the nearly 600,000 jobs lost was the worst such number since 1974.

"The American people want us to work together. They don't want to see us dividing along partisan lines on the most serious crisis confronting our country," said Senator Susan Collins of Maine, one of three Republican moderates who broke ranks and pledged their votes for the landmark stimulus bill. PTI

Russia firm to ink USD 780 mn nuclear fuel contract

Moscow, Feb 7 (PTI) Leading Russian company TVEL is expected to sign a USD 780 million nuclear deal with India next week for the supply of fuel for atomic power plants.
Under the deal likely to be inked in Mumbai on Wednesday, TVEL, one the world's largest nuclear fuel producers, will supply 2,000 metric tonnes of uranium pellets to the Indian nuclear power plants (NPPs), RIA Novosti reported today.

"The contract, if signed, could make Russia the first country to supply nuclear fuel to India since the Nuclear Suppliers Group lifted a three-decade ban on nuclear fuel sales to the country on September 6, 2008," a spokesman for Russia's state atomic power corporation Rosatom was quoted as saying.

Russia is building two 1000 VVER light water reactors for the Kudankulam NPP in Tamil Nadu and during President Dmitry Medvedev's New Delhi visit in December last year, the two countries agreed to build four more units.

TVEL is one of the world's leading producers of nuclear fuel. It supplies atomic fuel to 73 commercial and 30 research reactors in 13 countries. PTI

First optical fibre link between India, Myanmar opened

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First optical fibre link between India, Myanmar opened

Pallab Bhattacharya
Mandalay (Myanmar), Feb 9 (PTI) India and Myanmar today operationalised their first optical fibre telephone link, a USD seven million state-of-the-art network that will bring the two countries closer and give a boost to bilateral economic cooperation.

Watched by Vice President Hamid Ansari, Myanmar's Communication Minister Brig Gen Thein Zaw made the first call to Indian Telecom Minister A Raja in New Delhi, applauding the quality of the project funded by India and executed by public sector Telecommunications Consultants India Limited (TCIL).

The high-speed broadband link for voice and data transmission connects Mandalay, Myanmar's second most important commercial hub after Yangon, and the border town of Moreh in Manipur.

The two towns are separated by a distance of 500 km.

TCIL Chairman-cum-Managing Director Rakesh K Upadhyay later told PTI that the call rates between India and Myanmar are bound to fall sharply with the installation of the optical fibre link between Mandalay and Moreh.

Myanmar announced it was planning to construct optical fibre network in the entire area along its border with India which could then have another direct link also with China, Laos and Thailand. PTI

Big investors shy away from large-sized

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Big investors shy away from large-sized stock mkt deals in '08

New Delhi, Feb 8 (PTI) Bearish conditions in the stock market have made corporate, FIIs and other big investors to shy away from bulk and block deals, which involve transaction of large chunks of shares of a company, leading to a nearly 30 per cent fall in trading volumes through such deals in 2008.
Analysts believe that High Networth Individuals (HNIs), Foreign Institutional Investors and other big corporate investors staying away from large-sized deals last year, lead the trading volume to take a dip.

"Drop in the block and bulk deals shows that the HNIs and FIIs are preferring to stay away from the market," Nexgen Capital Equity Head Jagannadham Thunuguntla said.

The combined trading volumes of bulk and block deals on Bombay and National stock exchanges have plunged 27 per cent, representing a decline of Rs 1,57,000 crore.

The bulk transactions fell 29 per cent to Rs 1,36,000 crore in 2008, while the block deals declined 11 per cent to Rs 21,132 crore, in value terms.

A block deal, refers to a trade with a minimum quantity of five lakh shares or minimum value of Rs five crore executed through a single transaction window on the bourse.

Whereas, a bulk deal involves the transaction in a scrip where the total quantity bought or sold is more than 0.5 per cent of the entire outstanding shares of the listed entity. PTI

Assocham for state funding of polls; open for co donations

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Assocham for state funding of polls; open for co donations

New Delhi, Feb 8 (PTI) Ahead of general elections, industry body Assocham has proposed lifting of ceiling on poll expenses by the candidates as the cap is not easy to monitor.
Suggesting funding of elections by states and also by the corporates, the chamber said in a note to be submitted to the government, that donations to political parties should be eligible for income tax exemption.

"While ceiling on expenditure is desirable, the ground reality is that such a cap is not practical" the chamber said, adding, "it is widely known that the existing ceiling on expenditure for candidates is bypassed by various means." What political parties show in their expense statement is "like an iceberg", adding "the public only sees what is revealed how much political parties are spending is yet unknown".

It suggested that election expenditure should be part financed by budgetary provision and partly through donations from public and corporates. In turn, the companies should inform the market regulator SEBI about these donations.

At present, there is an expense ceiling of Rs 25 lakh for a candidate in the Lok Sabha elections and Rs 10 lakh for the Assembly polls. PTI

Over 16,000 escape war zone in northern Sri Lanka

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Over 16,000 escape war zone in northern Sri Lanka

Colombo, Feb 8 (PTI) Over 16,600 civilians, including a large number of children and women, have fled the conflict zone in northern Sri Lanka in the last eight days, as Colombo kept up its offensive in the rebel-held areas while asking the LTTE to surrender unconditionally.
"Over 16,600 civilians have moved from Wanni region into relief camps in Jaffna, Vavuniya and other areas between February 1 and 8," army spokesman Udaya Nanayakkara said. Last month, 3,400 people had come to government-controlled areas.

It is expected that at least 80,000 more people will move to government-controlled areas in the next few weeks, he said.

President Mahinda Rajapakse last night warned the rebels, who are now limited to a narrow strip of land, to surrender or get killed.

"They must let civilians go and then unconditionally give themselves up... I must warn them we will not halt our operations against terrorism until we reach our final objective," he said.

Speaking about the sudden increase in the number of civilians fleeing rebel-held areas in Wanni, a senior defence official said it is a result of a "well-planned rescue mission launched by the security forces".

"Army manoeuvres have been planned and executed with great care in order to increase the opportunity of the civilians to get out," the official said. PTI

Sea Tiger chief 'missing' after air raid on his hideout

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Sea Tiger chief 'missing' after air raid on his hideout

T V Sriram
Colombo, Feb 7 (PTI) Sea Tiger chief Soosai was reported missing after Sri Lankan Air Force jets pounded his hideout killing at least 27 rebels, even as 5,000 civilians crossed over to the army held areas in wanni, officials said today.

It was immediately not confirmed whether Soosai was killed or wounded in the attack but he was missing.

"Air Force fighter jets yesterday pounded a hideout of senior Tiger leaders located one km north-east of Pudukudirippu Junction in Mullaitivu," Air Force spokesperson Wing Commander Janaka Nanayakkara said.

"Eleven LTTE cadres including senior LTTE cadres and their body guards had been killed while a large number of militants had also been severely injured in the air strike" Nanayakkara said.

It was later confirmed the hideout targeted was the coordinating headquarters of the LTTE Sea Tiger.

"It is now confirmed that as a result of monitoring LTTE communications, the Sea Tiger leader Soosai is reportedly missing," Media Centre for National Security said.

The LTTE cadres using dozers (large powerful tractor) were seen digging up the hideout targeted, it said, adding the jets attacked the same hideout again destroying the dozers and others equipments used for digging. PTI

Militants blow up police post, eight killed

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Militants blow up police post, eight killed

Islamabad, Feb 7 (PTI) Eight persons, including six policemen, were killed when militants attacked and blew up a police post in Pakistan's Punjab province before dawn today.
Witnesses said a group of armed militants first opened fire at the police post at Qudratabad in Mianwali district and then blew it up. The post collapsed after the powerful explosion, they said.

Two Civil Defence volunteers, who were guarding the post, were gunned down by the militants. An assistant sub-inspector and five constables, who were sleeping inside, died when the building collapsed and they were buried under the debris, officials said.

DSP Jamat Ali Bukhari said the attack was launched at 3.30 am and the post that was targeted was an important one.

No group claimed responsibility for the attack.

The post was located in an area bordering the troubled NWFP. Another police post in the same area was attacked by militants earlier this week.

President Asif Ali Zardari and Premier Yousuf Raza Gilani condemned the attack. In separate messages, they said the government's resolve will not be cowed down by such acts.

Zardari said operations against militants in Swat valley and other areas would continue till their elimination. Gilani said the government's writ would be established at all costs and it could not be forced to stop its operations against the militants. PTI

Pak says 26/11 a 'hiccup' in ties

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Pak says 26/11 a 'hiccup' in ties, but wants talks resumption

Rezaul H Laskar
Islamabad, Feb 7 (PTI) Seeking resumption of dialogue with India, Pakistan today said the two countries will have to live as "good neighbours" despite the "hiccup" caused in bilateral ties by the Mumbai terrorist strikes.

It also asserted that it wants its probe into the attacks to be "transparent" and "open to examination" because the government is "serious" in prosecuting those responsible.

"The most important thing is that India and Pakistan have to live as good neighbours," Foreign Minister Shah Mahmood Qureshi said in an interview in Munich, where he is participating in an international security conference.

"Our democratically elected government started on a policy of normalisation (with India) and we were doing fairly well till the unfortunate Mumbai incident that has caused a hiccup and there is a pause in the composite dialogue," he said in the interview, excerpts of which were aired by Pakistani television channels.

India and Pakistan should resume the composite dialogue process, which began in 2004, to ensure peace in their neighbourhood, he said. PTI

Indian-origin doctor convicted of manslaughter

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Indian-origin doctor convicted of manslaughter in UK

Prasun Sonwalkar
London, Feb 7 (PTI) An Indian-origin doctor, who injected an intensive care patient with a drug against the advice of senior medical staff, has been convicted of manslaughter and given a six-month suspended jail sentence here.

Priya Ramnath, 40, who worked in Britain's National Health Service, injected Patricia Leighton, with adrenaline in the Stafford District General Hospital in July 1998.

Ramnath, who now lives in the US, was convicted of the patient's murder and handed the suspended jail sentence at the Birmingham Brown Court for going against the wishes of three colleagues and failing to speak to a consultant anaesthetist at the hospital before injecting the drug into Leighton.

The doctor came back from the US last February to face the charge after being threatened with extradition. The jury found her guilty by a 10-2 majority while Ramnath denied manslaughter by gross negligence.

Leighton died from heart failure shortly after she was injected with the drug. The prosecuting lawyer, Michael Burrows, told the trial that she was being treated in an intensive therapy unit in the early hours of the morning.

He said within moments of the injection Leighton jerked forward in her bed and exclaimed: "What's happening to me? I am going to die." She lost consciousness shortly afterwards.

"The jury has found that Mrs Leighton would have lived longer, perhaps days, but for your gross negligence," the verdict said. PTI

Non-state actors seeking to dictate agenda

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Non-state actors seeking to dictate agenda: Zardari

Islamabad, Feb 7 (PTI) President Asif Ali Zardari has said that non state actors responsible for the Mumbai attacks were pushing to dictate their agenda and rewrite the foreign policies of Pakistan and India.
Zardari, addressing a meeting of top leaders in North West Frontier Province capital Peshawar last night, vowed to prevent non state actors responsible for the Mumbai attacks to dictate their agenda and rewrite the ties between Pakistan and India, the state-run news agency APP reported.

A war of words has erupted between New Delhi and Islamabad after India blamed Pakistan-based elements for the terror attacks on the Indian financial capital that killed at least 180 people last year.

India has said that the steps taken so far by Pakistan are not adequate. It has also accused the Inter-Services Intelligence spy agency of having a hand in the attacks.

Zardari had earlier accepted that non-state actors operating from Pakistani soil and linked to Mumbai terror attacks was the responsibility of his government. "Anybody (operating) from my soil is my responsibility," he had told an international magazine last year.

Pakistan is expected to make public the report of its probe into the Mumbai attacks early next week. It has, however, said it will not hand over to India any Pakistani nationals found to be involved in the attacks and will instead try them under the country's laws. PTI

CBMs with India

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CBMs with India became 'futile' due to Mumbai attacks: Pak PM

New York, Feb 8 (PTI) Pakistan Premier Yousuf Raza Gilani has said all confidence-building measures with India became "futile" in the wake of the Mumbai attacks and insisted that his government would probe the matter and whoever was involved would be tried according to the laws of the country.
"We were having excellent relations with India. We were on good terms with Prime Minister Manmohan Singh" until the November 26 attacks, he told 'Newsweek' in an interview in its upcoming issue.

India has blamed Pakistan-based elements, including the terrorist group Lashkar-e-Toiba, for the attacks and is awaiting a response to its dossier on the terror strikes handed over to Islamabad on January 5.

"... With this incident all of our confidence-building measures became futile. Now, you can imagine who is the beneficiary of this -- the terrorists," Gilani said.

"Therefore, I assure you and I assure India and I assure the world that whatever information has been given to us, we will probe into it and whoever was involved we will try according to our laws, and we will not allow our territory to be used for terrorism," he said.

Unlike the previous Musharraf regime, the present democratic government, he said, has the ability to control terrorist groups like Lakshar-e-Toiba and Jamaat-ud-Dawa. PTI

Pak-origin British terrorists biggest threat to US: Report

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Pak-origin British terrorists biggest threat to US: Report

London, Feb 8 (PTI) In a bid to prevent a Mumbai-like massacre on American soil, the CIA is said to have launched a vast spying operation in Britain as it suspects that British terrorists of Pakistani origin are the biggest threat to US.
According to the CIA, which has recruited a number of informants in the Pakistani community, a British extremist of Pakistani origin entering the US is the most likely source of a terror attack on America, Britain's leading newspaper 'The Sunday Telegraph' reported.

A former CIA officer who has advised President Barack Obama, told the British newspaper that the agency has in fact stepped up its efforts after the Mumbai mayhem "laid bare the threat from Lashkar-e-Taiba", the militant group which has an extensive web of supporters in UK's Pakistani community.

"In the aftermath of the Mumbai attack the US and the UK intelligence services now have to regard Lashkar-e-Taiba as just as serious a threat to both of our countries as al-Qaeda. They have a much more extensive base among Pakistani Diaspora communities in the UK than alQaeda," Bruce Riedel said. PTI

Cabinet panel to discuss Pak response

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'Top Cabinet panel to discuss Pak response to Mumbai dossier'

Islamabad, Feb 8 (PTI) A top Cabinet panel chaired by Prime Minister Yousuf Raza Gilani is set to discuss Pakistan's response to the Mumbai terror dossier tomorrow, a news report said today.
Pakistan's Defence Committee of the Cabinet (DCC) is set to meet tomorrow "to discuss how to proceed in the matter," the Nation newspaper reported today. The probe report was to be presented in response to the Indian dossier on the Mumbai attacks on November 26, it said.

A war of words has erupted between New Delhi and Islamabad after India blamed Pakistan-based elements for the terror attacks on the Indian financial capital that killed at least 180 people last year.

India has said that the steps taken so far by Pakistan are not adequate. It has also accused the Inter-Services Intelligence spy agency of having a hand in the attacks.

Pakistan is expected to make public the report of its probe into the Mumbai attacks early this week. It has, however, said it will not hand over to India any Pakistani nationals found to be involved in the attacks and will instead try them under the country's laws.

Prime Minister Gilani will chair the meeting, which will be attended by the Chief of Army Staff, Defence Minister and other top cabinet members, the Pakistani daily said. PTI

84 killed as "hell's fury" rages in Australia

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84 killed as "hell's fury" rages in Australia

Melbourne, Feb 8 (PTI) At least 84 people were killed in one of the worst bushfires in Australia that ripped across the southeastern state of Victoria, as fire fighters struggled to tame the "hell's fury".
Eighty-four people are confirmed dead, surpassing the state's toll of 75 in the 1983 Ash Wednesday blazes, as Prime Minister Kevin Rudd described the inferno as "hell's fury" unleashed on Victoria.

The number of dead may rise as blazes continue to ravage the state as 3,000 firefighters struggle to contain seven major fire fronts, the Sydney Morning Herald said today.

More than 200,000 hectares of area has been affected by the fires that have left at least 640 homes destroyed in more than 400 fires in every part of the state, it said.

"Hell and all its fury has visited the good people of Victoria in the last 24 hours," Rudd told reporters in the fire-ravaged Yarra Valley.

"This is an appalling tragedy for Victoria but because of that it's an appalling tragedy for the nation," he said.

The Marysville and Kinglake townships have been nearly wiped out as police suspects some fires were deliberately lit.

However, investigators would not be able to establish how many of the fires were arson-related until the scenes are surveyed and the origin of the blazes located, the Herald quoted a police spokeswoman as saying. PTI

41 killed as Army destroys Tiger boats

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41 killed as Army destroys Tiger boats, thwarts infiltration

T V Sriram
Colombo, Feb 8 (PTI) At least 41 LTTE cadres were killed, 34 of them in a fierce clash in Mullaittivu, as the advancing Sri Lankan Army thwarted a major rebel infiltration bid on their defence lines.

"As many as 34 LTTE cadres in an armour-plated lorry were approaching the Security Forces Forward Defence Line (FDL) at high speed when the troops assisted by armour tank fire destroyed the vehicle killing all the terrorists inside," the army said in a statement.

The incident occurred in south of Puthukudirippu area in Mullaittivu, the army said.

During subsequent search, troops found 34 dead bodies of the LTTE cadres along with their weapons, it said.

Meanwhile, six LTTE cadres were killed when two sea Tiger boats were destroyed at an area 10 km north east of Mullativu this morning, the army said.

In Ramanathapuram and Visuamadu areas in Mullaitivu, troops further stepped into the LTTE hiding areas in order to consolidate their defences, the defence ministry said.

The army claimed to have engaged in a rescue mission to open a safe passage to facilitate the escape of Tamil civilians trapped in the rebel-held areas.

Separately, infantrymen also found weapons and claymore mines left behind by LTTE cadres in Visuamadu, where a body of a Tiger rebel was also found, the army said. PTI

Paramilitary in Darjeeling

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Paramilitary to maintain law and order in Darjeeling, Doors

Siliguri, Feb 8 (PTI) Six companies of paramilitary forces will be put into action to maintain law and order in the violence-hit areas of north Bengal, police said today.
Paramilitary forces have been requisitioned to tackle law and order problems in Dooars region of Jalpaiguri district and Siliguri, Inspector General of Police (North Bengal) K L Tamta told PTI.

Applauding the role of police in controlling violence in the region during the recent strikes, he said they arrested 84 persons in connection with yesterday's clash in which two persons were killed and 20 others injured.

Meanwhile, Gorkha Janamukti Morcha General Secretary Roshan Giri told PTI that they were observing a 'black day' today in Darjeeling, Dooars and Terai. While condemning yesterday's violence, he alleged that the CPI(M) had plotted violence to divide the Gorkhas and the Adibasis.

"CPI(M) cadres came out with sharp weapons to attack Gorkhas for no reason. We will discuss the entire episode in our central committee meeting within a day or two and decide what to do," he added. PTI

SIT to move High Court

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SIT to move High Court against Kodnani, Patel bail

Ahmedabad, Feb 8 (PTI) The SC-appointed Special Investigation Team (SIT) will move the High Court against the lower court's decision to grant bail to 2002-riots accused Gujarat Minister Maya Kodnani and VHP leader Jaideep Patel.
"Yes, we will challenge the decision (the bail granted to Kodnani and Patel) in the High Court," SIT chairman R K Raghavan told PTI today.

Kodnani, Minister of state for Higher Education in Gujarat and former VHP leader Jaideep Patel were granted anticipatory bail by the Sessions court here on February 5 in connection with the Naroda Gam and Naroda Patia riot case, where over 95 people were killed by a mob following the Godhra incident in February 2002.

The duo had filed for anticipatory bail after they were declared absconders by the Supreme Court appointed SIT on Monday.

Some of the witnesses, deposing before the SIT, had said that Kodnani and Patel were present in the mob on February 28, 2002, and were instigating them.

Sessions Judge A K Aaswani granted Kodnani and Patel bail on grounds that other co-accused, who were spotted with weapons during the riots, had been granted bail in the past.

The duo had maintained that they were at Sola Civil Hospital when riots broke out in Naroda Gam. PTI

Valentine's Day celebrations

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Outfits warned against disrupting Valentine's Day celebrations

Bangalore, Feb 8 (PTI) In the wake of right wing Sri Ram Sene's threat to marry off couples found celebrating Valentine's Day, the City Police today warned such outfits against indulging in any illegal activities on the day.
Without directly naming the Sene, Bangalore Police Commissioner Shankar Bidari said certain organisations and individuals have threatened to forcibly prevent persons from observing Valentine's Day as they consider it not consistent with Indian culture.

"This is not correct and such acts will amount to an offence under Section 153(A) of the Indian Penal Code," he said. "If they indulge in such illegal acts, they will invite stringent legal action," he added.

He said organisations and individuals who have issued such threats would be dealt with firmly according to the provisions of the law of the land.

Bidari said observance of Valentine's Day is in accordance with the spirit of the Constitution and society.

He said necessary protection would be given to bars, pubs, restaurants and shops selling Valentine's Day cards if their owners apprehend any obstruction or danger to their business from individuals or groups on February 14. PTI

Nine arrested for Bangalore blasts

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Nine arrested for Bgl blasts, four suspects killed in J-K

Bangalore, Feb 7 (PTI) Cracking the 2008 Bangalore serial bomb blasts case, police have arrested nine persons belonging to a radical group from Kerala and claimed that four others involved in the attack were killed last year in an encounter in Jammu and Kashmir while they were crossing over to Pakistan.
Abdul Sattar, Abdul Jabbar, Sarfudin, Sakariya from Mallapuram, Kerala and Mujeeb, Faizal, Abdul Jaleel, Manaf of Kannur, and Badruddin from Ernakulum have been arrested for their alleged involvement in the July 2008 blasts that left one dead and eight others injured, DGP Ajai Kumar Singh told reporters today.

Indian Mujahideen, a shadow outfit of Banned Students Islamic Movement of India (SIMI) and Lashkar-e-Toiba, had taken responsibility for the blast.

Four others involved in the blasts were killed in an encounter with the army in Jammu and Kashmir while they were attempting to crossover to Pakistan between October 4 and 7 last year, Bangalore City Police Commissioner Shankar Bidari, who was also present at the press conference, said.

They were identified as Abdul Raheem, son-in-law of Sattar, Mohammad Fyas, Fayis and Mohammad Yasin from Kerala, he said. PTI

Interim budget likely to focus on job creating sectors

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New Delhi, Feb 8 (PTI) Faced with an extraordinary circumstances following global financial meltdown, the Government is likely to focus on labour intensive and export oriented sectors in its interim Budget on February 16 to protect jobs.
The interim Budget to be presented by External Affairs Minister Pranab Mukherjee, who is currently holding the charge of finance portfolio, may not contain any major policy decision, but it could cut certain indirect taxes to address the urgent concerns to arrest economic slowdown.

"Alleviating job losses should be the government's priority. Demand for exports has gone down, so sectors like gems and jewellery, textiles etc need to be revived so that more jobs can be created," Prime Minister's Economic Advisory Council Chairman Suresh Tendulkar told PTI.

Tendulkar further said that fiscal space of the centre is limited due to growing subsidies adding that public expenditure has also increased.

Crisil principal economist D K Joshi said indirect taxes may be slashed in the interim budget, but he does not expect any cut in the direct tax.

Joshi said construction, automobiles and export oriented sectors might get some benefit from the budget. PTI

Eight coaches of train derails, no casualties

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Eight coaches of train derails, no casualties

Bangalore, Feb 8 (PTI) Eight coaches of Rani Chennamma Bangalore-Kolhapur Express derailed this morning between Devargudda and Bydgi near Haveri in Karnataka.
No casualty was reported in the accident which took place at 4.55 a.M., railway sources said.

All the passengers have been moved to Hubli via bus, the sources said, adding, two general Second-class coaches, one first AC, two second-AC, two three-tier AC coaches and a second-class luggage van have derailed.

Enquiry booths, with helpline numbers 22259271 and 22354108, have been set up at the platform one of the Bangalore city junction.

The 6506 Bangalore-Gandhigram Express, following the derailed train, has been diverted, while some passenger trains have been cancelled, the sources added. PTI

Vajpayee still on ventilator

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Vajpayee responding to treatment, still on ventilator: Doctors

New Delhi, Feb 8 (PTI) The condition of former Prime Minister Atal Bihari Vajpayee, who is admitted at AIIMS with chest infection, is stable and he is responding to the treatment, doctors attending him said today.
"His condition is stable. He is still on the ventilator but he is responding to the treatment," Dr Sampath Kumar, head of Cardiac Thoracic Vascular Sciences Department of AIIMS, told PTI.

Scotching rumours about the health of the 84-year-old former Prime Minister, Kumar said "his condition has not deteriorated. He has no fever". He is making progress".

Kumar said functioning of his liver and kidney and his blood pressure are normal.

Asked about the former Prime Minister's respiratory track infection, Kumar said doctors have given him antibiotics and they would take two to three days to have their full effect.

"We will have to wait for a few more days for his full recovery," he said.

Vajpayee was admitted to AIIMS on Tuesday with complaints of fever and chest congestion. Doctors later found that he was suffering from pneumonia.

UPA Chairperson Sonia Gandhi and External Affairs Minister Pranab Mukherjee had separately visited AIIMS yesterday to enquire about the health of the BJP veteran.

Senior BJP leader L K Advani, who is in Nagpur, had also spoke over phone to doctors at the hospital. PTI

Surgical strikes are feasible militarily: Army chief

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Surgical strikes are feasible militarily: Army chief

New Delhi, Feb 8 (PTI) Against the backdrop of much-debated option of surgical strikes against terror infrastructure in Pakistan post-Mumbai terror attack, Army Chief Gen Deepak Kapoor has said that such strikes are "very much feasible" militarily.
"Surgical strikes are definitely feasible but whether you wish to take that decision or not not is a separate issue," he said when asked by PTI whether such strikes were feasible.

"Definitely yes. Whether you would like to look at doing it (carrying out such strikes) by air or artillery or by another means or physically there," he said in reply to questions.

Asked if the armed forces were ready for such strikes if the political leadership had given the go-ahead, Kapoor said, "we are an army which has been involved in operations in Kashmir and Northern Command on a perpetual basis and on an on-going basis. Therefore, the question of not not being ready is not not frankly not not relevant. And we would have been fully ready to do our task." During the wide-ranging interview, the army chief also sought to dispel the impression that there was no no clarity about the nuclear command when Prime Minister Manmohan Singh was hospitalised for heart surgery last month. PTI

Commonwealth has asked Pakistan to do its utmost to counter terrorism

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Member nations should do utmost to counter terror: C'wealth

Ajay Kaul
New Delhi, Feb 8 (PTI) In a veiled message to Pakistan, Commonwealth has asked it to do its utmost to counter terrorism and collaborate in this regard with other member countries.

Commonwealth Secretary General Kamalesh Sharma said he expects bilateral dialogue process between India and Pakistan, which has been suspended in the wake of Mumbai attacks, to go on so that the two countries settle their issues amicably.

The 53-nation grouping of former British colonies is working to evolve a convention providing for cooperation among all member countries to defeat terrorism whose threat to the world is growing.

"Terrorism is an idea in which collaboration and cooperation should take place," Sharma, who was here on a visit, told PTI in an interview.

Asked what message the Commonwealth has for Pakistan which is said to have become the epicentre of global terrorism, he said "I have no message for Pakistan different from my message to all member states -- all of them (should) contribute to collective stance of doing the utmost, which every state can, in counter terrorism and to strengthen, in collaboration with each other, internal capacity to do so." Pakistan is a member of the Commonwealth. PTI

UPA has confused the nation

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UPA has confused the nation after the Mumbai attacks: Prasad

Nagpur, Feb 8 (PTI) The Congress-led UPA coalition has confused the nation after the Mumbai terror attack on 26/11 as leaders spoke in different voices, BJP spokesman Ravi Shankar Prasad alleged today.
One one hand, the External Affairs Minister (Pranab Mukherjee) and on other the Home Minister (P Chidambaram) were speaking differently on the same issue, Prasad alleged while speaking on the political resolution moved by senior party functionary Arun Jaitley.

To add to more confusion, the National Security Advisor (M K Narayanan) also uttered something entirely different and which was then disassociated by the government, he said, adding "10 terrorists held the country of 112 crore to ransom".

Prasad alleged the UPA government has failed to tackle the Bangladeshi infiltrators.

The Assamese people are already suffering from illegal Bangladeshi migrants. A stringent act was enacted during the NDA regime but the UPA government repealed it. Infiltration is indeed an attack on the country, he said. PTI