Meanwhile,US won't stand "slackness" by Pak Army in "war on terror", Holbrooke WARNED. As I have been writing and speaking often that Kashmir or any burning Issue across the Political borders may not be addressed at all without Green Signal from Washington. Government of India Incs and the Brahaminical Zionist Hegemony have no FREEDOM to resolve Kashmir or Ayodhya Standoff!
Violence continued in the curfew-bound Kashmir Valley as three more deaths were reported Saturday, taking the toll in the ongoing unrest in the region to 96, police said.
Manmohan Singh reviews financial inclusion efforts!India to gain from lifting wheat export curbs: Kaushik Basu.Talks for sugar decontrol in a month: Pawar
Indian Holocaust My Father`s Life and Time - Four Hundred SEVENTY Eighty SIX
Palash Biswas
http://indianholocaustmyfatherslifeandtime.blogspot.com/
Ayodhya Verdict Imminent, Kashmir Burning as FIIs Pump Money in Indian Stocks, Bulls Make Most of Adversaries as Usual!Thus, Sensex surges 795 points in weekly trade on strong economic outlook! As Economic Times reports,Foreign shareholding in the country's two premier bourses, more so in the National Stock Exchange (NSE), has risen over the past year as global investors seek a slice of the firms that are expected to benefit the most from India's growing capital market. While, Manmohan Singh reviews financial inclusion efforts!On the other hand, while the majority masses do suffer from Food Insecurity, Kaushik Basu Pleads for the Export of Wheat! India could gain from high global wheat prices by lifting a ban on exports of the grain, Kaushik Basu, chief economic adviser at the Finance Ministry said in a report published on Friday.The central government hopes to start the consultative process with all stakeholders within a month on the issue of de-controlling the sugar industry, Agriculture Minister Sharad Pawar here Friday.
"If India could look at easing wheat export curbs currently in place, subject to the 2010/11 wheat production prospects, it may be in a position to benefit from global wheat situation with competitive prices," the report said.The adviser's views do not necessarily reflect those of the Finance Ministry.
Meanwhile,US won't stand "slackness" by Pak Army in "war on terror", Holbrooke WARNED. As I have been writing and speaking often that Kashmir or any burning Issue across the Political borders may not be addressed at all without Green Signal from Washington. Government of India Incs and the Brahaminical Zionist Hegemony have no FREEDOM to resolve Kashmir or Ayodhya Standoff!On the other hand, Separatist leaders in Jammu and Kashmir have rejected the outcome of Wednesday's over five-hour-long All-Party meeting, unanimously terming the endeavor a futile and time buying exercise aimed to deny Kashmiris their inalienable right to self-determination.The chairman of Hurriyat (Geelani) Syed Ali Shah Geelani termed it as a time gaining exercise. Geelani said it is high time for India and its allies in Kashmir to adopt a realistic approach to resolve the dispute. Geelani rejected the statement of Prime Minister Manmohan Singh that the protests in Kashmir are instigated by apparently by the pro-freedom groups. Whereas, Jammu and Kashmir Liberation Front chairman Muhammad Yasin Malik termed the all party meeting a futile exercise.Malik said in the past 63 years the Kashmir dispute has consumed three generations.
"In 90s, guns were the reference points and it internationally highlighted the Kashmir dispute. After guns, there was a transition of the Kashmiris' movement into a peaceful stage. However, New Delhi has kept the movement lingering at the cost of Kashmiris," Malik said.He said instead of acknowledging the sacrifices of Kashmiris, the All Party Meeting has left no stone unturned to appease the communal and anti-Kashmir parties.
"The meeting took place at a time when Kashmiris are being killed with impunity and whole Valley is continuously reeling under curfew," he said.
Castigating the BJP for opposing revocation of the Armed Forces Special Powers Act (AFSPA), Malik said when the party was in power, it engaged even the militant leadership for resolving the Kashmir dispute.
"This shows the BJP's hypocrisy. It is playing politics on the blood of Kashmiris," he said.
Ironically, The Prime Minister, Dr Manmohan Singh, on Friday reviewed the progress towards financial inclusion by banks in India.
Dr Singh was briefed on the efforts being made by banks to reach banking services through information and communication technology based models and banking intermediaries to 73,000 rural habitations having population of over 2000 as per the 2001 census by March 2012.
As India prepares for the visit of President Barack Obama in early November, its numerous concerns ranging from H1-B visa fee hike to hi-tech export controls to cross border terrorism appears to have had some positive response.
Foreign Secretary Nirupama Rao is understood to have articulated New Delhi's concerns at a hectic round of meetings Friday with Secretary of State Hillary Clinton, White House National Security Advisor James Jones and other senior administration officials.
A statement on Rao's meeting with General Jones said Jones met with Rao 'to continue preparations for the President's upcoming visit to India in early November.'
'General Jones and Rao reviewed the progress being made in a number of areas, including agriculture, education, economic cooperation, and security.
'Both agreed that the vast range of cooperation between us would set the foundation for a successful presidential visit and further our strategic partnership.
'In addition, General Jones and Rao discussed other developments in the South Asia region, noting our mutual desire for stability,' the statement added.
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An alternative mode of financingFinancing of MSMEs remains a major policy concern. As the sector is characterised by information asymmetries and high processing costs, MSMEs often find it hard to access funds.
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The Prime Minister also reviewed the safety and security measures put in place for such banking transactions being executed through the business correspondents.
Dr Singh desired that these technology driven banking models must be fully exploited to ensure that the benefits under the various Government programs such as National Rural Employment Guarantee Act (NREGA), pensions etc become available to the beneficiaries living in remote villages faster, more efficiently and with lesser intermediation cost.
Reserve Bank of India (RBI) Governor D. Subbarao and Secretary (Financial Services) R. Gopalan were present on the occasion along with Dr Singh.
On the occasion, State Bank of India Chairman O.P. Bhatt and Punjab National Bank CMD K.R. Kamath presented through hand-held devices the various technologies of branchless banking being used by them to reach banking services in the rural interiors.
These services include deposit, withdrawal, remittance and other facilities.
Presently, India has about 32000 rural bank branches, and the government in order to facilitate inclusive growth throughout the country has in the Budget Speech 2010-2011 directed banks to extend the reach of financial services to all the villages having a population of more than 2000.
This would enable the rural hinterland to become fully connected with the financial sector in India.
US special envoy for Pakistan and Afghanistan Richard Holbrooke has said that his country would not accept any "slackness" on the part of the Pakistan Army in the war against the Taliban, due to their engagement in the ongoing flood relief efforts.
"Neither the security situation has changed fundamentally, nor the Taliban threat has receded and with the Americans placed in a difficult situation in Afghanistan, we certainly will not like to see slackness on part of the Pakistan Army in the war on terror," the Daily Times quoted Holbrooke, as saying to news reporters.
Referring to the situation in Afghanistan, he said that he did not believe "that the Americans are losing any battles or the war against the Taliban in Afghanistan, rather a recent surge of troops would certainly improve the situation in Eastern Afghanistan soon."
Pakistani military officials had said that the flood relief effort undertaken by the country's armed forces had forced the army to alter plans to combat the Taliban and Al Qaeda militants.
"In some places where the army was on offensive operations, they have taken defensive positions," military spokesman Major General Athar Abbas had said.
Back Home, a benchmark index for Indian equities surged almost 800 points in this week's trading, the sharpest rally in over a year, as foreign institutions invested heavily on the back of strong macro-economic outlook.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) rallied 795.09 points or 4.23 per cent in the weekly trade. The index closed in the positive four out of the five trading sessions.
Strong inflow of funds from the foreign institutional investors has led the rally at the Indian bourses for the second successive week. The country's benchmark index has gained 1,373 points in the last two weeks of trading.
Finance Minister Pranab Mukherjee said on Thursday that the Indian economy would grow by 8.5 per cent during the current fiscal and 9 per cent in 2011-12. It grew by 8.8 per cent in the first quarter of fiscal 2010-11.
Sensex advanced 177.26 points or 0.91 per cent to 19,594.75 on Friday, the highest closing level in 34 months.
On the last trading day of the week, of the 30 stocks trading in the Sensex, 24 advanced while six closed in the red.
Reliance Comm went 5.28 per cent up at Rs 166.45; ACC 3.24 per cent higher at Rs 997.55; Bharti Airtel up 2.93 per cent at Rs 357.90; RIL up 2.58 per cent at Rs 1,026.75; and Sterlite Inds up 2.09 per cent at Rs 173.25. These were among the major gainers in percentage terms at the Sensex.
At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty closed 0.97 per cent or 56.25 points higher at 5,884.95 points Friday.
Most Asian markets advanced on the last trading day of the week, with Japan's Nikkei rising 1.23 per cent at 9,626. Hong Kong's Hang Seng closed 1.29 per cent higher at 21,971.
The bourses in the US also ended the week on a positive note. Dow Jones industrial index closed 0.12 per cent higher at 10,608. S&P 500 advanced 0.08 per cent at 1,125.59 and Nasdaq closed 0.54 per cent higher at 2,315.61.
However, the European bourses closed in the red. The FTSE 100 fell 0.57 per cent to close at 5,508.45 points.
The German DAX closed 0.64 per cent down at 6,209 points and the French CAC 40 declined 0.38 per cent to 3,722.02 points.
17 Sep, 2010, 05.45AM IST, Apurv Gupta & Vijay Gurav,ET Bureau
Foreign investors tighten hold on NSE, BSE amid growing equity cult
MUMBAI: Foreign shareholding in the country's two premier bourses, more so in the National Stock Exchange (NSE), has risen over the past year as global investors seek a slice of the firms that are expected to benefit the most from India's growing capital market.
Already, both exchanges enjoy a fat net profit margin, which is rarely seen in other businesses. In financial year 2009-10, NSE reported a net profit of `613 crore and a gross revenue of Rs 1,266 crore, translating into a 48% margin. Its rival the Bombay Stock Exchange's (BSE) net profit for that year stood at `213 crore on revenues of `485 crore, a 44% margin.
According to shareholding details available in annual reports of the stock exchanges, the number of foreign shareholders in the NSE increased from eight in 2008-09 to 12 in 2009-10, while their combined stake improved from 26% to 32%. In the BSE, it rose from six to seven, resulting in a marginal rise in foreign shareholding from 25.7% to 27% during the period. With the stock market on the upswing, foreign institutional investors and private equity funds have been eyeing stakes in the two stock exchanges, leading to a spurt in their valuations in the past one year, say brokers.
In May this year, Singapore-based fund Temasek Holdings bought out NYSE Euronext's 5% stake in the NSE for about $150 million. The deal valued the Indian exchange at $3 billion. In August, billionaire investor George Soros acquired close to a 4% equity stake in the BSE through his hedge fund Quantum (Mauritius) from Dubai Financial Holding. The transaction took place at around `375-380 a piece, valuing Asia's oldest stock exchange at a little more than $800 million.
NYSE Group, GA Global Investments, GS Strategic Investments and Saif II SE Investments figured as NSE's top foreign shareholders at the end of the past financial year. Each of them held 5% in the exchange. The BSE had Deutsche Boerse, Singapore Exchange, Caldwell India, Dubai Financial Group, Atticus Mauritius and Acacia Banyan Partners as foreign shareholders at that time. They held anything between 3.9% and 4.9% as on March 31, 2010, according to the exchange's annual report.
Foreign shareholding in the two stock exchanges would have changed after the recent deals. Foreign investors have generally been bullish on the Indian stock market and see tremendous potential for growth of the stock exchanges whose prospects are linked to the securities market, according to brokers. They feel that the booming stock market has boosted the prospects of NSE and BSE, which have a net worth of `2,400 crore and `1,900 crore, respectively.
Apart from foreign investors, the BSE has drawn a large number of local investors, including individuals and HNIs, resulting in a three-fold rise in the number of shareholders. Brokers, the original shareholders, are keenly awaiting listing of BSE's shares as they feel it will help in discovering the price in a much more transparent manner.
http://economictimes.indiatimes.com/markets/stocks/market-news/Foreign-investors-tighten-hold-on-NSE-BSE-amid-growing-equity-cult/articleshow/6569106.cms
Rao meets Clinton, conveys India's concerns on H1B issue
India has conveyed its concerns to the US over the H1B visa fee hike and exchanged views on issues like the expansion of the UNSC and the Nuclear Liability Bill during Foreign Secretary Nirupama Rao's talks with top American officials focussing on President Barack Obama's November visit to the country.Rao's meetings with Secretary of State Hillary Clinton, National Security Adviser Gen (Retd) James Jones and other key officials of the Obama Administration here yesterday "laid the foundation" of a successful Presidential visit to India in early November, the White House said.
After her meeting with Jones at the White House, National Security Council (NSC) spokesman Mike Hammer said "both agreed that the vast range of cooperation between us would set the foundation for a successful presidential visit and further our strategic partnership".
Noting that the Rao-Jones meeting was held to continue preparations for the US President's upcoming visit to India in early November, Hammer said: "In addition, General Jones and Rao discussed other developments in the South Asia region, noting our mutual desire for stability."
Besides driving down to the White House for her meeting with Jones, Rao spent most of her day yesterday at the Foggy Bottom headquarters of the State Department, where she had a series of meetings on issues ranging from bilateral ties, situation in the region, India's role at the global level to the expansion of the UN Security Council.
All these meetings, however, were focussed on the early November visit of Obama to India.
On the Clinton-Rao meeting, State Department spokesman P J Crowley said the Secretary of State held talks with Rao along with her top aides like Under Secretary of State for Political Affairs Bill Burns and Assistant Secretary of State for South and Central Asia Robert Blake.
They discussed the latest developments in the US-India relationship and preparations for the President's trip to India later this year, he said.
After Rao's meetings, a senior Indian official said the deliberations reflected the "transformational" relationship between India and the United States. There is a convergence of views and strategic interest on a wide range of global issues.
At the same time, officials of both countries conveyed their respective concerns during the meeting.
While India was quick to raise the issue of H-1B and other perceived protectionist measures of the US in the recent past, the US spoke of its dissatisfaction over the Nuclear Liability Bill that was recently passed by Parliament and said it was incompatible with Convention on Supplementary Compensation (CSC).
The Indian delegation told the US it believed that the Nuclear Liability Bill was consistent with the CSC and categorically ruled out making any change to the text of the legislation passed by Parliament.
While the US was supportive of India's desire to become a permanent member of the UN Security Council, officials said the Obama Administration was unlikely to "endorse" New Delhi for this place in the near future as it had done for Japan.
The Indian delegation also urged the US to resolve the H-1B visa issue as soon as possible.
"It would be good for the relationship if it (H1B issue) is sorted out earlier," the US side was told during the meetings, according to the Indian official.
However, there was no immediate commitment from the US on this issue, which has now been left to Commerce and Industry Minister Anand Sharma and US Trade Representative Ron Kirk, who are scheduled to meet in Washington next week.
Rao's meetings also gave a sense that the Obama administration was determined to take the Indo-US relationship to a new level of strategic partnership and working to make the Presidential visit a "milestone" of these emerging ties between the two largest democratic countries of the world, the official said.
The Indian delegation is also understood to have brought to the notice of the US officials the recent Pakistani statements on Kashmir as it was an internal matter of India, continued infiltration into Kashmir, the issue of cross-border terrorism and painfully slow progress in bringing to book those responsible for the Mumbai terrorist attacks.
During the meetings, US officials are believed to have praised constructive Indian role in Afghanistan and urged New Delhi to "step-up" its cooperation in the war-torn country.
India, on the other hand, expressed concern that any "US exit" from Afghanistan at this point of time or even in the near future would strengthen the terrorist organisations and extremist elements in the region, which it feels would not be good for the security of the United States, European countries and India as well.
The issue of increased assertiveness of China in the Indian Ocean and Asia was also discussed during these meetings.
Asked about the tough US stance on outsourcing and the recent hike on H1B visa fee, Foreign Secretary Rao told an Indian TV channel that she raised the issue during her meetings with the American officials here.
"I raised it in a number of my meetings and I was able to convey to them that the issue was of concern, of serious concern, to our industry and essentially was perceived as a rise in protectionist sentiments in the United states and we needed to address this issue.
"But, I also think the sense that we got in these discussions was that this relationship between India and the United States has acquired a dimension and a relevance that includes a number of areas and issues such as this - the visa-related issues and the issues relating to the controls that have been placed in this area -- need to be addressed keeping in mind the larger purpose of this relationship," she told NDTV.
When pointed out that US and India appear to be on different pages on their Af-Pak policy, Rao said: "I actually
do not agree with you on that description. We are not on different pages. In fact, I came away with the impression, with the very strong conclusion that India and the US have much in common when it comes to Afghanistan."
"We are both against terrorism. We are against extremism we see the need to overcome it. We are for democracy, stability and development in Afghanistan and there is growing appreciation by the day in the US about the role that India is playing in Afghanistan and the contributions that we have made to the development of that country. On the contrary, rather than differences I see growing convergence," Rao said.
Talks for sugar decontrol in a month: Pawar
The central government hopes to start the consultative process with all stakeholders within a month on the issue of de-controlling the sugar industry, Agriculture Minister Sharad Pawar here Friday.
"We will definitely consult sugarcane-producing states. We will start the process after assessing the total crop situation," the minister told reporters on the margins of a conference here on the prospects of food output in the upcoming season.
"I think, we will take another three-four weeks, maximum," the minister added, expecting the country's sugar output -- the second largest producer globally -- at around 23 million tonnes during the upcoming season, against 18.8 million tonnes this year.
The estimates shared by Pawar, who also oversees the food and consumer affairs portfolios, is a tad short of the industry estimates of 25 million tonnes during what is called the "sugar year" that starts in October and ends September.
A section of the sugar industry has been demanding decontrol as it has to part with a specified quantity of the produce, which is now stipulated at 20 percent, to the government at a lower price for distribution through ration shops.
| Saturday September 18, 08:20 PM |  * |
Industrialising India leaves little room for farmers
 * |
| Click to enlarge photo |
By C.J. Kuncheria
SANAND, India (Reuters) - Jagdishji Vaghela is one of hundreds of thousands of farmers standing in the way of India's breakneck economic expansion.
Determined not to give up his land for an industrial park in Gujarat, the 55-year-old farmer scorns at talk of how the benefits of industrialisation in Asia's third-largest economy will trickle down to people like him.
Despite a nearby plant producing what is touted as the world's cheapest car, he pointed to a water-logged track leading to his village. "What is this development they are talking about? Look at the road, it's completely flooded," Vaghela said.
"I won't give it (land) away. If we give it what do we do? We will have to search for jobs, but even they are not available."
As India industrialises rapidly, resistance from farmers such as Vaghela and rows over acquisition of farmland for industry have become a sensitive issue in a country where two-thirds of the 1.2 billion population is dependent on agriculture.
But Vaghela knows his options are limited.
Farm income is declining, his crops have repeatedly failed and if he holds out too long, he risks having the land lose its value as it remains a land-locked enclave between factories.
The uncertain future he and other farmers like him across the country face has led to a string of violent protests against attempts to acquire land for factories, power plants or roads, posing a risk to India's economic ambitions.
"The bigger picture is that land is an issue. It is one of those areas that India needs to up its game," Kevin Grice, senior international economist at Capital Economics in London, said.
"India scores relatively poorly and it is due to micro issues like land, red tape and cumbersome laws," he said, referring to India's 133 position in the World Bank's ranking of ease of doing business.
While few believe foreign interest in India will taper off, these issues could delay a much needed acceleration in the amount of foreign investment pouring into the country.
BREWING DISCONTENT
How India soothes the discontent brewing amongst the tens of thousands of farmers may determine the economic and political future of the country where the rural population is a crucial vote base for both ruling and opposition parties.
Mindful of the social and security concerns, top ruling politicians have said acquisitions should skirt fertile and productive land, and farmers ought to be adequately compensated and offered alternate jobs.
The issue may become a political hot potato this year, with the ruling Congress party championing farmers despite clamour from industry and investors to make it easier to acquire land.
Vaghela says he and his fellow villagers had high hopes when Tata Motors (TATAMOTORS.BO : 1028.8 +4.5
"We had great expectations from the Nano plant, that we'd get money, we'd get jobs. But what has come out of it? None of our people have got jobs. We don't have the qualifications."
Protests can scupper projects, as Vedanta Resources discovered last month when the government shelved the UK-based miner's $9.6-billion plan to mine bauxite on lands in Orissa held sacred by indigenous groups.
Other high profile projects, like those by top steelmakers ArcelorMittal, POSCO <005490.KS> and Tata Steel (TATASTL.BO : 605.3 +9.95
Under the current law, the state can take over any land for a public purpose with little compensation.
Protests against land acquisitions are not new in India, but have become more visible recently as the economy grows at its fastest pace ever and as income inequalities widen.
But there is growing realisation that compensation must be adequate if industrialisation has to proceed smoothly, with the government considering changes that will offer the owners market rates and even equity stakes in the industries being set up.
RISKS FOR INDUSTRY, GROWTH
Land promises to be a politically charged issue in crucial state elections this year and next, especially after the ruling Congress party backed farmers protesting against a highway being built on their lands in Uttar Pradesh.
At Sanand, the government had initially faced protests, but much of it has calmed down after it hiked compensation by a third to nearly 4.86 million rupees ($105,000) per acre.
While this might be a fortune for many where annual per capita income is $3,100, the figure hides the fact there are many people dependent on the same plot of land and farmers have mortgaged land and racked up debt with usurious moneylenders.
In Siyawada village, Kanjibhai Parmar, the 60-year-old patriarch of a seven-member household, has just inked his approval for handing over nearly 13 acres of land.
Over two-thirds of that land is with a moneylender, whose dues have doubled to 600,000 rupees in two years. He borrowed the money after his crops failed repeatedly.
"The government has opened up one more way to survive, selling off our land. Else we would have mortgaged it," he said. "With the money, we will repay our debt, buy a tractor and get land elsewhere."
But for smaller farmers like 40-year-old Nanjibhai Karsanbhai, who has 12 family members on his 7-acre plot, there will be little left over to purchase land.
"I have no other land, I won't give it up," he said. "What will I do with the money? Eat it?"
(Editing by Sugita Katyal and Miral Fahmy)
(For more business news visit Reuters India)
| Monday August 23, 10:22 AM | Source: Hindustan Times |
'We have technology to tame rivers'
India, Aug. 22 -- As the chairman of Bhakra Beas Management Board (BBMB), A.B. Agrawal talked to Hindustan Times about his plans to develop a consensus amongst northern states for new capacity addition. Some excerpts: After building world-class asset like Bhakra-Nangal Dam, what is BBMB doing to replicate such multipurpose projects?For an energy-starved nation like ours, addition of power-generation capacity would always be welcome to bridge the ever-widening gap between supply and demand.
Multipurpose projects not only generate energy, but also provide other benefits such as irrigation, fisheries, tourism, etc which is the need of the hour in the country.
The technologies to tame and divert mighty rivers are available and are being practised by many hydro developers. The resettlement and rehabilitation (R&R) issues for creation of huge reservoirs, which are characteristic features of multipurpose projects, pose a key challenge.
What are your plans for BBMB in the coming years?
BBMB is a glorious organisation, with its history intertwined with Nehru's post-Independence quest to make India technically advanced and self-reliant. BBMB is generally perceived as a power generation entity with 2865 MW installed capacity and widespread 3705-circuit km transmission line network of up to 400kV level with 24 sub-stations. During my tenure in BBMB, I look forward to create consensus among partner states for capacity addition.
What're your exact plans to add power generation capacity?
BBMB has strived to add generation capacity by undertaking Renovation, Moderni-sation and Uprating (RM&U) of BBMB power houses. We have already added 310 MW of low-cost hydro generation capacity through RM&U.
Another major RM&U of 540 MW Bhakra Left Bank Power House is currently under progress, which shall add 90 MW of low-cost green power by 2012. Expeditious development of hydropower potential is need of the hour. So construction of HEPs on Satluj, right from the point it enters India at Shipki La, is welcome. However, no significant impact on generation at Bhakra is anticipated in the face of upstream projects - most of these projects are either run-of-river projects or carry small reservoirs.
| Sunday August 22, 09:57 AM | Source: Hindustan Times |
Stepping on minefields
India, Aug. 21 -- Vedanta Chairman Anil Agarwal is known as a man of few words and more action. He has been relentless in the expansion of his various group companies that mostly deal in copper, zinc, aluminium and iron ore with operations in India, Autralia and Zambia. His modus operandi is simple - acquire a down in the dump or relatively under-leveraged company, expand capacities manifold and ensure steady raw material linkages.Agarwal first came into the limelight when he went abroad to London to list his company in 2003. That was the first time an Indian firm went on the scrolls of the London Stock Exchange.
Four years later in 2007, his Sterlite Industries was the largest IPO by an Indian firm in the New York Stock Exchange. Around the same time, he pulled a coup beating stalwarts such as ArcelorMittal and Birla Group to acquire India's largest private sector iron ore miner Sesa Goa (SESAGOA.NS : 325.05 +3
Steadily but quietly, Vedanta Group now represents the third largest business conglomerate in India (in terms of market capitalisation) ahead of its more famous contemporaries like Birlas, Ruias, Mahindras and Goenkas.
But despite his various achievements he is not seen as a Tata, Ambani, Mahindra or Munjal. The reason? Ethical issues have dogged Agarwal for years.
His Niyamgiri project in Orissa, for example, has invited a lot of bad press, not to mention a weakened investor confidence. A number of high-profile investors in Britain including the Church of England have attacked Agarwal on his allegedly cavalier attitude towards the displaced populace and sold their shares as a mark of protest.
Agarwal has had a fair share of run-ins with investors in India as well. There are 189 cases pending before various courts in India filed by the shareholders of Sterlite Industries. The controversies however, come in the wake of Agarwal's meteoric rise that saw him turn around two loss-making public sector units - Balco and Hindustan Zinc (HINDZINC.NS : 1072.9 +6.7
His journey started back in 1976 when he landed in Bombay to start his business as a metal scrap dealer. Coming from a family which made aluminium conductors, he was not new to the metal space but those were not the days when any metal barring gold used to shine.
In Bombay, his first move was to take over a firm owned by the King of Nepal that was into cable making. As in Australia, here as well Agarwal spotted what others, including his reluctant sponsor Syndicate Bank, would never have.
The company, Shamsher Sterling Corporation, had a huge chunk of copper lying unused at its Ghatkopar factory. Agarwal made a cool profit by selling that off and Syndicate got its money with interest back within a month.
It is during the turn of the century that Agarwal made his first bold move: take over the sick PSU Balco.
When the takeover happened in 2001, Balco had an annual turnover of Rs 92 crore with a loss of Rs 43 crore, produced 89,000 tonnes of aluminium and employed 6,000 people.
In 2009-10, the company produced 268,000 tonnes of aluminium, had revenues of Rs 2,746 crore and an operating profit of Rs 610 crore.
That was followed by another ailing PSU acquisition: Hindustan Zinc Ltd, and more recently Sesa Goa where Agarwal pipped the likes of ArcelorMittal and Birla Group.
The takeover of Cairn India is only in line with vision of becoming one of world's leading natural resource companies on the lines of BHP Billiton.
"You cannot find another example of somebody who can dare take over a sick PSU and turn it around so fast," said Amit Mitra, secretary general, Federation of Indian Chambers of Commerce and Industry (Ficci). "He remains hungry for more and importantly he did not turn them around by firing people or shutting down plants. Rather he doubled capacity ensuring that he would in turn need more people."
Today, this boy for Bihar stays in upmarket London and has an office in the centre of the city. His working knowledge of English remains clunky even as he loves cycling in Hyde Park close to his home.
"When I was a kid, we used to read in Hindi that India ko sone ki chidia kehte hain (India is called the golden bird) and quite literally it is still very true," he says. "I am hungry for natural resources and one day it just struck me that I have all other resources but oil. That is when I thought of venturing into it," says Agarwal, explaining his latest foray into oil and gas.
"Wealth generation should not be for the individual but for the society at large," said Agarwal, the philanthropist. "What-ever I have earned, 75 per cent will go back to the society."
Agarwal is now foraying into the oil and gas space, a daunting task considering that he is a rookie in the sector.
But his bigger challenge is whether he can come out intact of the growing mess of his reputation as a landgrabber of tribals in mineral-rich India.
Vital stats
Who is Anil Agarwal?
The 56-year-old founder chairman of Vedanta Resources was born and brought up in Patna. He belongs to a family involved in the business of aluminium conductors. He dropped out of school at the age of 15 after completing matriculation. Former Bihar CM Lalu Prasad Yadav is his fellow alumnus. Agarwal now stays in London with his wife and two children. Son Agnivesh, 30, is chairman of Hindustan Zinc. Daughter, Priya, 26, is involved in Vedanta's creative projects
What is Vedanta?
A conglomerate of $ 70 billion with revenues in excess of $ 7.9 billion and market capitalisation of about $ 12 billion. The first Indian group to be listed in the London Stock Exchange in 2003. Its group company Sterlite Industries was listed in the New York Stock Exchange in 2007, the largest IPO by an Indian firm in the US. The group aims to produce 10-12 % of the world's metals.
The business
Zinc: Hindustan Zinc is the world's largest integrated producer of zinc and lead. Recently acquired Anglo American Zinc assets.
Aluminium: Capacity of more than 2.5 million tonnes per annum.
Copper: Aims to be the second largest copper producer with 1.3 million tonnes.
Silver: Capacity to grow to 550 tonnes per annum and join the world's top ten silver producers. Commercial Energy: Current projects will increase capacity to 5,500 MW, besides about 3500-MW captive generation.
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Foreign Capital Inflow into India: Determinants and Management
File Format: PDF/Adobe Acrobat - Quick ViewIndia Resident Mission. Policy Brief Series. Foreign Capital Inflow into India: ..... The share. 6 Policy Brief No. 4. Foreign Capital Inflow into India 7 ...
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IMF Survey: India's Record-High Capital Inflows Pose Policy Challenge
4 Feb 2008 ... India's favorable environment has attracted the attention of foreign investors. Capital inflows have surged over the past two years (see ...www.imf.org/external/pubs/ft/survey/so/2008/car02408a.htm - Cached
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Capital flows to India
File Format: PDF/Adobe Acrobat - Quick Viewby R Mohan - Cited by 12 - Related articles
monetary impact of foreign inflows is termed sterilisation. In India, the liquidity impact of large capital inflows was traditionally managed mainly through ...
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News for Foreign capital Inflow India
| * The Hindu | Rupee reverses losses, up 10 paise against dollar - 2 days ago However, it immediately recovered to 46.25 per dollar in view of persistent foreign capital inflows into equity markets before rising further to 46.33/34 ... Times of India - 149 related articles » |
India Economy Watch: Capital Inflows into India and Rupee Appreciation
23 Dec 2007 ... Another important source of capital inflows has been Portfolio Investment which ..... India wholsale Inflation 14 June, Foreign Exchange. ...indiaeconomywatch.blogspot.com/.../capital-inflows-into-india-and-rupee.html - Cached - Similar
Economic reforms, capital inflows and macro economic impact in India
by I Chakraborty - 2001 - Cited by 4 - Related articlesThe study attempts to explain the effects of inflows of private foreign capital on some major macroeconomic variables in India using quarterly data for the ...
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Macroeconomic Implications Of Capital Inflows In India
File Format: PDF/Adobe Acrobat - Quick Viewmajor macroeconomic variables in India using quarterly data for the period 1993-. 99. The analyses of trends in private foreign capital inflows and some ...
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The Hindu : Business / Economy : India wants more foreign capital ...
13 Sep 2010 ... Dr. Singh said as India's economy grows, the technological capabilities must expand to set ... Keywords: FDI, inflow of foreign capital ...www.thehindu.com/business/Economy/article633959.ece - Cached
Restrictions on Capital Inflows
India is not the only country that has witnessed bigger inflows of foreign capital. It is reported that in the past one month foreign investors have put in ...openlib.org/.../stock_markets_and_yuan_revaluation.html - Cached - Similar
foreign capital inflow - News, photos, topics, and quotes
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Why India should welcome all capital inflows: Rediff.com Business
21 May 2010 ... This would suggest that India should welcome all forms of capital inflows to plug its funding gaps. However, if foreign capital flows into ...business.rediff.com/.../guest-why-india-should-welcome-capital-inflows.htm - Cached
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domain-b.com : India's capital inflows a cause for concern, not ...
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12 Feb 2008 ... India's record high capital inflows are more a cause for concern than a ... said though foreign investors are pouring in millions in India, ...
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Foreign Capital Inflows to China, India and the Caribbean ...
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Foreign Capital Inflows to China, India and the Caribbean: Trends, Assessments and Determinants. Arindam Banik and Pradip K. Bhaumik. ...
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India Finance Secretary: Foreign Capital Inflow Not Matter Of ...
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Capital inflows in India | vox - Research-based policy analysis ...
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3 Jul 2010 ... Despite the recent drop in capital inflows to India, ... As of May 2010, India's foreign exchange reserves stood at $272.9 billion compared ...
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The Hindu Business Line : Capital inflows and policy options
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23 Jun 2010 ... Once again, India is grappling with a surge in net capital inflows, particularly through increased foreign portfolio investment. ...
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India's Foreign Capital Risk
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12 Jul 2010 ... But the IMF has warned that large capital inflows from foreign. ... During times of excess or scanty capital inflows, India had resorted to ...
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Conference on "Globalisation of Chinese and Indian Enterprises"
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"Foreign Capital Inflows to India and China: A Tale of Two Economies". 3) Haiyan Zhang, University of Antwerp, Belgium, Haiyan.Zhang@ua.ac.be ...
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India Not Considering Tobin Tax on Capital Inflows, Governor ...
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12 May 2010 ... India has no plans to impose the so- called Tobin tax on foreign capital inflows, Reserve Bank of India Governor Duvvuri Subbarao said, ...
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YouTube - India to see strong capital inflows: ICICI Bank
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... the policymakers need to keep a close eye on foreign capital inflows as . ... queue India is attracting lot of foreign investors: U...by ...
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Foreign Capital Flows in India: Compositions, Regulations, Issues ...
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Section 2 highlights composition of capital inflows in India. Section 3 gives an insight of government regulations to manage foreign capital in India. ...
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FT.com / Markets / Asia-Pacific - India to ease foreign access to ...
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8 Aug 2010 ... India is planning to open the country's equity markets to ... set up by the government to explore ways of increasing foreign capital inflows ...
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India needs foreign capital to meet growing demand: Macquarie
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12 Nov 2009 ... Domestic demand in India is rising, but the country does not have the ... Also, the overseas capital inflow in the form of foreign direct ...
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PeerPower : The importance of capital inflows
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The capital inflow headache - Views - livemint.com
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26 Nov 2009 ... The capital inflow headache, Despite recent talk of capital controls ... Existing controls also safeguard India from some types of capital inflows. ... and the build-up of foreign capital from the earlier boom of 2006-07 ...
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India may allow foreign investments in share market - The Times of ...
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Ebook Economic Reforms, Capital Flows And Macro Economic Impact On ...
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13 Apr 2010 ... They are facing the challenges from the foreign capital and the invisible resource. ... One opinion that could be explored in the face of capital inflow surge ... Over the years, Indian capital market has experienced a ...
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Foreign Capital Inflows to China, India and the Caribbean: Trends ...
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Foreign Capital Inflows to China, India and the Caribbean: Trends, Assessments and Determinants Book Description. Foreign capital flows are believed to be ...
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Soumyen Sikdar ,
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FOREIGN CAPITAL INFLOW INTO INDIA: DETERMINANTS AND MANAGEMENT. Soumyen Sikdar. 1. ,. 2. Introduction. The 1990s witnessed a strong upsurge in financial ...
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Capital inflows vital for growth, says PM
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14 Sep 2010 ... New Delhi: Prime Minister Manmohan Singh on Monday said India needs foreign capital inflow among other factors to sustain an economic growth ...
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FII - Securities and Exchange Board of India - Home page
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"Note: The data pertains to all the activities undertaken by FIIs in Indian Securities Market, including trades done in secondary market, primary market and ...
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Investment in Indian Companies by FIIs/NRIs
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The Reserve Bank of India monitors the ceilings on FII/NRI/PIO investments in Indian companies on a daily basis. For effective monitoring of foreign ...
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FII Activity - Market Pulse - FII monthly activity, FII Investment
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FII Activities (Monthly) * · MF Activities (Monthly). Date, Purchase ( Rs Crore ), Sale ( Rs Crore ), Investment ( Rs Crore), Investment ($US mm) ...
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Foreign Institutional Investors
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FII in India | Foreign Investors in India | FII Investment in ...
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Foreign Investment - Home: Ministry of Finance, Government of India
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FII net investment declined to dols 1.5 billion for IFY 1997-98, compared to dols 2.2 billion in 1996-97. The trend reversed itself in February and March ...
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Statistics of FII investment in india? - Yahoo! Answers India
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17 Mar 2009 ... Lots of blogs gives diffrent numbers. But the most genuine is SEBI website: www.sebi.gov.in (look on the left side of page for details of FII flows) ...
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Record FII investment in first 15 days of 2010 | mydigitalfc.com
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17 Jan 2010 ... However, as is evident from the data the FII investment in ... Even the World Bank is expecting India to grow at a faster rate than China. ...
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Foreign Institutional Investors in India, FII, Foreign Mutual ...
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Moneycontrol.com >> My TV >> CNBC-TV18 >> Video - FIIs investment ...
FIIs investment in India likely in Q3, Q4: Samir Arora. Jun 15, 2010 at 10:02. Like. Dislike (1). Share. Email. Customize ...www.moneycontrol.com/.../fiis-investmentindia-likelyq3-q4-samir-arora-_464129.html - Cached
domain-b.com : Welspun India ups FII investment limit to 49 per cent
10 Feb 2010 ... Welspun India ups FII investment limit to 49 per cent. ... Welspun India Limited has agreed to enhance the limit for purchase of its equity ...www.domain-b.com/...w/.../20100210_investment.html - Cached - Similar
India hot spot for FII investments
14 Sep 2010 ... Financial express latest business and finance news: India hot spot for FII investments.www.financialexpress.com/.../India...FII-investments/681173/ - United States - Cached
50% of FII investment comes from 'tax havens' - The Times of India
23 Nov 2009 ... Nearly half of the Rs 70000 crore in offshore investment that's come into Indian bourses this fiscal, till October, is from alleged tax ...timesofindia.indiatimes.com/.../india...FII-investment.../5259167.cms - Cached
Fii in India fii activity FII and DII trading activity on NSE and ...
fii in india fii activity fii investment in what is fii fii data fii india fii stock ... sebi fii regulations fii investment in india. FII and DII activity ...www.daytradingshares.com/.../foreign_institutional_investors_fii.html - Cached - Similar
Package II: Govt raises FII investment limit
2 Jan 2009 ... "In order to give a boost to the corporate bond market, (the) FII investment limit in rupee-denominated corporate bonds in India would be ...www.rediff.com › India › Business › Business Headline - Cached - Similar
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SUSTAINABLE INVESTMENT IN INDIA 2009
File Format: PDF/Adobe Acrobat - Quick Viewforward later in 2009 through a "Sustainable Investment in India" capital markets event. Leveraging this FII/UNPRI interest and NSE's offer to play a local ...
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Foreign Direct Investment (FDI) in India
Jump to Portfolio Investment by FIIs: ... in respect of their fresh equity investments in India. ... Also, 100 percent FII debt funds have been ...www.indiaonestop.com/economy-fdi.htm - Cached - Similar
Sebi loosens investment norms to check FIIs' Quit India movement
17 Oct 2008 ... Foreign investors will now have investment freedom in Indian markets. With foreign institutional investors (FIIs) engaged in a 'quit India' ...www.indianexpress.com/...investment...fiis/374366/ - United States - Cached - Similar
Note: These FAQs are prepared with a view to help FII applicants
Ans. The FII investments in debt securities are governed by the policy if the Government of India. Currently following limits are in effect: ...investor.sebi.gov.in/.../foreign%20institutional%20investor.html - Cached - Similar
FII investment, this year, is the highest ever inflow in India ...
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28 Dec 2009 ... FDI inflow India Last year Touched 80 Thousand crores. The FII investment of Rs 80500 crore in 2009 is the highest ever inflow in the ...
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Foreign Institutional Investors: Investment Preferences in India
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by PK Prasanna - Cited by 2 - Related articles
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FII Investment Data – Feb 2010 | Bell the Bull
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Fiis investing in india foriegn investing in india NSE BSE » Nse Guide
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FII investment in stock markets touches USD 13 bn level: Business ...
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FII investment zooms past $50 bn
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The Hindu Business Line : FII equity investments down $18.6 b in ...
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22 Mar 2009 ... FIIs to some extent prefer China to India as an investment destination as there are concerns over the general elections, the Pakistan factor ...
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FII investment crosses $3 billion-mark in 2009 - Money Matters ...
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FIIs investment in India likely in Q3, Q4: Samir Arora - CNBC-TV18 -
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15 Jun 2010 ... Indian markets are consolidating after a long time while the global markets are managing to get out to doubts and skepticism that loomed ...
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Regulations for investment's by FII's in India | MBA Knowledge Base
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8 May 2010 ... FII Regulations in India: Investment by Foreign Institutional Investors (FII's) is regulated under SEBI (FII) Regulations, 1995.
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Foreign Institutional Investor (FII) Definition
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Foreign Institutional Investor (FII) Definition - Definition of Foreign Institutional Investor (FII) Definition on Investopedia - An investor or investment ...
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India hot spot for FII investments - Business News - News - MSN India
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14 Sep 2010 ... This year, FII investment into India is over 57% higher than that of South Korean, which remains at the second slot in terms of overseas ...
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FDI & FII
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FDI is Foreign Direct Investment: It is the investment made by Foreign Multinational comapnies in India. Foreign Institutional Investors (FII) ...
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The DE Shaw Group Receives Expedited FII Registration in India
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Investment Opportunities in India,Indian Investment Opportunities ...
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Cumulative FII investment since the equity market was opened in the early 1990s is $ 25 billion. The number of registered FIIs in India is 540. ...
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FII investment climbed after temporary effect from euro crisis ...
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10 Aug 2010 ... The Government said FII inflows in capital markets have rebounded, after coming under the temporary impact of the euro zone crisis, ...
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Indian Economy on 8% Plus Growth Path – FDI or FII
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Sensex, Nifty hit 32-month highHindu Business Line - 4 hours agoMUMBAI: Riding high on hectic buying by foreign funds across the sectors, the benchmark indices, Sensex and Nifty, posted this year's best weekly gains as ... Sensex surges 795 points in weekly trade on strong economic outlookEconomic Times - 6 hours agoMUMBAI: A benchmark index for Indian equities surged almost 800 points in this week's trading, the sharpest rally in over a year, as foreign institutions ... NAVs close strong as markets rallyMoneycontrol.com - 8 hours agoEquity diversified NAVs closed strong with advance:decline ratio of 256:3 as the Equity benchmarks staged stunning performance for the second consecutive ... Markets log third weekly gainsBusiness Standard - 10 hours agoThe markets rallied smartly for the third straight week on the back of strong gains by large-cap stocks, while mid- and small-caps underperformed. ... Sensex ends day with 800 pts gain for weekTimes of India - 19 hours agoMUMBAI: After a day's break, the BSE sensex was back on its winning ways on Friday, closing the week with a gain of nearly 800 points, or 4.2%, at 19595. ... FII rally may propel Sensex towards 20KEconomic Times - 20 hours agoMUMBAI: Indian stocks rose to a fresh 32-week high on Friday, fuelling expectations of the benchmark Sensex topping the 20000 mark as early as next week on ... Telecom stocks shine on BSE; RCom, Airtel top gainersBusiness Standard - Sep 17, 2010PTI / Mumbai September 17, 2010, 18:25 IST Led by Reliance Communications (R-Com) and Bharti Airtel, telecom stocks today rallied on the BSE, ... Sensex closes 177 points up at 19595Sify - Sep 17, 2010Mumbai, Sep 17 (IANS) A benchmark index for Indian equities rose 177 points Friday on the back of strong economic growth outlook and positive global cues. ... Sensex bounces back by 177 points to fresh 32-month highThe Hindu - Sep 17, 2010PTI The Bombay Stock Exchange benchmark Sensex today surged by 177 points to touch a fresh 32-month high as investors shrugged off the impact of yesterday's ... Sensex, Nifty rally over 4.2% this weekMoneycontrol.com - Sep 17, 2010Equity benchmarks closed at 32-month high this week and the Nifty touched a high of Rs 5901.65. The 30-share BSE Sensex closed at 19594.75, up 795.09 points ... All 82 related articles » | RelatedBSE SensexReliance Industries Bharti Airtel Tata Steel Timeline of articles Number of sources covering this story
ImagesBusiness Standa...The Hindu Financial Times... Reuters India Moneycontrol.co... Moneycontrol.co... Moneycontrol.co... Siliconindia.co... TopNews All related images » |
'International treaties may not benefit developing nations'
WASHINGTON: Developing countries that adopt major international economic treaties do not necessarily gain more foreign direct investment, a new study has suggested.
The study by Ted Khoury, a professor at the Oregon State University, claimed that in some cases adopting these treaties can hurt and not help a developing country, contrary to what agencies such as the World Trade Organisation (WTO) advocate.
"Basically, I wanted to know when developing countries take on the rules of the wealthy, developed nations, do good things happen to them?" Khoury said. "And in many cases, the answer is no."
The study that has major implications for Latin American and Caribbean intellectual policy reform is published online in the Journal of World Business.
Khoury, who spent more than 12 years in private industry managing intellectual property and research and development strategies at various firms, looked specifically at the Paris Convention treaty, which was renewed in 1967.
He found that countries that did not have a significant invention and scientific research base did not financially benefit from adopting the treaty, and in some cases it was found that their economic situations worsen.
The OSU professor pointed out that developed countries such as the US encourage others to adopt the treaties because they want to be able to file their patents in countries where there may be a market for their product, or perhaps where there may be a manufacturing workforce to make the product.
As the inventor of more than 100 domestic and international patents, Khoury saw this issue come up frequently when he was filing for patents in other countries.
Companies file international patents to protect their invention and make sure competitors in other countries do not copy the product; and they want to ensure that they can sell, market or manufacture the product overseas.
Looking at the data over a 14-year period in 18 Latin American and Caribbean countries, Khoury found that countries that adopted the Paris Convention early -- such as Colombia, Ecuador and Uruguay -- had an inflow of foreign direct investment if they increased innovation.
So in some cases, adoption of international intellectual property rights treaties may have helped a developing nation. But in countries with the lowest innovation base -- including El Salvador, Honduras and Paraguay -- early adoption did not help increase investment in those countries.
Rahul declines Mehbooba's call to intervene in Kashmir
KOLKATA: Congress general secretary Rahul Gandhi on Thursday scotched any possibility of his intervention in trouble-torn Kashmir and said with a touch of humour that nowadays he is being asked to intervene on any issue, including the upcoming Commonwealth Games.
Responding to a query on Peoples' Democratic Party (PDP) chief Mehbooba Mufti seeking his intervention to bring peace to Kashmir, Gandhi said he was currently involved in the full-time job of rejuvenating the Youth Congress and the National Students' Union of India (NSUI).
"I am currently involved in a full-time job. But I find everybody everywhere nowadays likes to offer me new job. I have even been given an offer of intervening in the Commonwealth Games," Gandhi said in a media conference here.
"The way I see it, I have been given a responsibility. The way I have been brought up, you have to carry out a political task. I spend most of my day attending to issues that could result in bringing fresh young people to the NSUI and the Youth Congress," he said.
He said there were many people who were more capable of handling issues like Kashmir and running the Commonwealth Games.
"And Kashmir is not a part-time problem. When I am given a task, I would like to settle down and understand the problem in detail," he said.
Babri issue: Legal luminaries welcomes Allahabad HC decision
Welcoming Allahabad High Court order rejecting a plea for deferment of the judgement in the Ayodhya case, leading lawyers on Friday expressed the hope that that all sides to the dispute would abide by the verdict and not not incite passions.
They maintained that it was the job of courts to deliver verdicts though efforts could always be made for striking an amicable out-of-court settlement.,
Eminent counsel Harish Salve said the court's job was to give judgements and it was for the government to maintain law and order. He said he was surprised that efforts were being made to avoid a judgement.
Referring to an incident in the 1990s, when it was prayed before the Supreme Court that the case relating to Kalyan Singh in a contempt matter be adjourned because there was a BJP rally on a particular day, Justice M N Venkatachaliah remarked the court will do its job and it was for the government to main law and order.
Senior advocate K K Venugopal said that it is the duty of the court to deliver the judgement irrespective of the consequences.
"The reasons given by those seeking deferment is that the judgement will result in creating law and order problem. Even after six months, the position will be the same. As one judge will be retiring, it will be the duty of the court to deliver its judgement," he said.
Lawyer K T S Tulsi said even at this late stage if it was possible to work out an amicable solution that could be attempted.
Govt deploys army to quell Kashmir unrest
SRINAGAR: India deployed soldiers on the streets of protest-hit Kashmir on Friday to restore order, witnesses said, as two more pro-independence demonstrators were shot dead by security forces.
Troops were spotted on a key road in the main city of Srinagar that leads to the high-security airport, an AFP reporter said, while residents also reported seeing soldiers in central Budgam and northern Baramulla villages.
The army was last mobilised to assist the police and paramilitary forces in July, and the latest deployment is likely to further anger locals and separatists who resent any moves heightening the sense of occupation in the disputed Himalayan region.
"All repressive measures are being used to quell and crush the resistance movement and intimidate people for daring to raise their voice," Mirwaiz Umar Farooq, a senior separatist and leading cleric, told AFP.
The army declined to comment on the deployment when contacted by AFP, but it was believed to be part of a new strategy drafted by police, paramilitary and army forces on Wednesday to restore order.
A total of 96 people have died since the protests erupted in June, according to an AFP tally, with 17 killed on Monday in the worst violence in the disputed Muslim-majority region in years.
Police said at least two people had been killed and 19 injured on Friday after police opened fire in four places as crowds defied a curfew to pelt security forces with stones.
Another seven were injured late Thursday in the northern troublespot of Sopore town, 50 kilometres (30 miles) north of Srinagar.
Pakistan accused India of "brutality" over its crackdown on demonstrators who have staged three months of protests clamouring for an end to New Delhi's rule in Kashmir, a territory claimed by both nuclear-armed neighbours.
Pakistani Foreign Minister Shah Mehmood Qureshi, who held tense talks with his Indian counterpart S.M. Krishna in July to try to build trust between the estranged neighbours, condemned India's actions.
"Pakistan strongly condemns the brutality and the blatant use of force by Indian security forces," Qureshi said.
"Gross and systematic abuse of human rights and Indian repression in Kashmir must end," he said, describing killings, arrests and detentions as "unacceptable".
Most clashes have seen masked Kashmiris, some barely teenagers, throw stones at the heavily armed security forces who have retaliated with tear gas, baton charges and live ammunition.
The mountainous region is held in part by Pakistan and India, but claimed in full by both, and has been the trigger of two of the three wars the countries have fought since independence from Britain more than 60 years ago.
A strict curfew has been in place since Sunday in most parts of Kashmir, leading to complaints of "collective punishment" from locals who have been confined to their homes and are running low on food and medicine.
The central and local government face mounting criticism over their handling of the escalating crisis, with authorities struggling to find solutions to defuse the tension.
The region's top separatist has called for protesters to block police and army camps with sit-ins, posing a new challenge to security forces as they struggle to end the unrest.
Syed Ali Geelani, 81, said residents should assemble peacefully in front of security force camps next Tuesday, prompting the army to appeal to residents to "avoid confronting army garrisons or vehicles."
In Srinagar, thousands of residents chanting "Our nation, we will decide its future!" attended prayers for the cousin of separatist leader Yasin Malik who died on Thursday after being shot last month.
Across the region, Kashmiris are becoming increasingly vocal in their complaints about shortages as the curfew stretches into a sixth day.
All neighbourhoods in Srinagar have been sealed with barbed wire and iron gates as armed security forces with rifles and batons ensure no one crosses them or makes an attempt to defy the curfew.
Hafizullah Bhat, 58, told AFP his family had started eating plain rice mixed with salt because they were running out of supplies. "There is still some rice left but no vegetables, milk, breads and above all medicine," he said.
18 Sep, 2010, 03.24AM IST,ET Bureau
Farmers in drought hit districts to get diesel subsidy
NEW DELHI: Farmers in drought hit districts in this unusually heavy rains monsoon season will get a diesel subsidy of Rs 500 per hectare, agriculture minister Sharad Pawar announced here on Friday at the start of the National Conference on Rabi Campaign, even as the Centre awaits bumper crop production for most key Kharif crops including paddy, pulses, coarse cereals and sugarcane. Oilseeds are the only crop where acreage is lower than normal and production is expected to be less than normal.
A good monsoon and prospects of a good Kharif and Rabi have sobering effect on prices and will impact on the persistent double digit food inflation. Mr Pawar stressed in his address"The most effective way to keep prices under control is ensuring adequate availability through higher production and productivity to meet the requirement of increasing population with increasing income." Rs 500 crore have been earmarked for the diesel subsidy to help affected farmers prepare for Rabi sowing expenses but expectations are that actual spends may be much lower.
Interestingly, Mr Pawar left the key question on whether sugar sector decontrol would be on schedule for the 2010-11 season starting October open, holding that a decision would be taken only after sugar producer states got back to the Centre by mid October. Meantime, he down pegged sugar production estimates for the year from 23mt+ earlier to "over 22mt" today. That is much lower compared to the 25mt estimate by the Indian Sugar Mills Association (ISMA) and the 25-28mt estimate of Kingsman S A, which held its annual sugar conference here recently. The issue was referred to the state governments at the behest of the PM despite a big pitch by Mr Pawar to clinch the decontrol decision imminently. In and indication of increasing confidence, however, the food ministry okayed the export of 6 lt of imported sugar recently. Raw sugar exports of some mills were also allowed today. The FMC, meanwhile, is set to permit commodity exchanges to re start futures trading in sugar in October when they apply for it, on expectations of a good sugar output in 2010-11. The ban expires in end September.
"Some of the oilseeds acreage has been diverted to pulses in key states on account of higher support prices for pulses," agriculture secretary Mr P K Basu told ET. The bright side is that global edible oil prices have been tempered and ample is available, unlike pulses, the other big commodity imported annually to meet home demand. In addition, the bumper paddy crop could help the Centre decide on finally lifting the export ban on non Basmati rice in force for several months now. The actual numbers on acreage and estimated production, however, will only be come in by next week and the farm ministry is expected to release the first advance estimates for the season after. Paddy acreage has dropped, accordign to inputs to the Centre today, in Bihar, Jharkhand and W Bengal. The last, among the top producers, has an acreage drop of over 7% compared to last year. However, Haryana has brought in more farmland under paddy.
"Every farmer will get Rs 500 per hectare as diesel subsidy," Mr Pawar said. The Centre has earmarked Rs 500 crore for the spends on some 78 districts countrywide that are affected including 11 in West Bengal, 28 out of 38 in Bihar and and all of 24 districts in Jharkhand. Of these, the Bihar elections are imminent and W Bengal polls are due next year. However, the spends may not actually be that high. In Kharif last year when a similar scheme was announced, key farm producer states Punjab and Haryana that use mostly electricity refused the scheme while Bihar picked up only around Rs 1.5 crore. Only Tamil Nadu availed of the scheme to the tune of Rs 22 crore. The Centre, however, had to spend around Rs 1200 crore on power subsidy in both Punjab and Haryana.
The heavy rains this monsoon in several parts, especially in September, helped the paddy crop especially and is expected to boost water levels and soil moisture for the coming Rabi crop, sowing for which starts next motnh. A bumper Rabi production is expected. Agriculture sector utilises 80 percent of the water, there is immediate need for improving water use efficiency.
17 Sep, 2010, 08.26PM IST,REUTERS
India to produce record wheat crop, no exports
NEW DELHI: India is expected to produce a record 82 million tonnes of wheat next year but has no immediate plans to lift a three-year old ban on exports, the farm minister said on Friday. Farm ministry officials say better soil moisture, a result of plentiful monsoon rains, will help India, the world's second-biggest wheat producer, exceed this year's all-time high harvest of 80.71 million tonnes.
"This will be one of the most favourable years for wheat and other crops," Sharad Pawar told reporters. India grows only one wheat crop in a year, with planting from October and harvests in March-April. "We will easily achieve that target of 82 million tonnes," Farm Secretary P.K. Basu said.
The 2010 output is expected to be the fifth in a row to exceed domestic demand. Overflowing grain bins have forced the government to store large quantities of wheat under tarpaulin in open fields, leading to rot and decay. The country's top court recently asked the government to free stocks for the poor. Early this month, a panel of ministers decided to release 2.5 million tonnes of grains from government stocks to supply to the poor through state governments. Higher wheat output may put some downward pressure on benchmark prices in Chicago.
On Friday, CBOT wheat gained over 2 percent to trade at more than $7.37 per bushel as worries about supply resurfaced.
BULGING STOCKS
Despite bulging stocks, the Indian government has no immediate plans to lift a ban on wheat exports, imposed in early 2007 to rein in prices then. "There is no immediate plan to allow wheat exports on private account but we will allow exports of the grain on government account to neighbouring countries," Pawar said. India could capitalise on higher global prices by allowing exports if 2010 harvests were higher, the chief economic adviser to the Finance Ministry said in a report published on Friday.
"If India could look at easing wheat export curbs currently in place, subject to the 2010/11 wheat production prospects, it may be in a position to benefit from global wheat situation with competitive prices," the report by Kaushik Basu said. "In the context of India, wheat production prospects remain buoyant with normal monsoon rains this year," Basu said. The adviser's views do not necessarily reflect those of the Finance Ministry. Analysts say the government will be wary of allowing exports despite brimming warehouses, as food prices are high. On Sept. 1, wheat stocks were at 29.9 million tonnes, against a target of 17.1 million tonnes.
8 Sep, 2010, 02.42PM IST,PTI
Organic farming may grow 10-fold in 5 years
NEW DELHI: Area under organic farming in India is likely to grow over ten-fold to one crore hectres in the next five years on buoyant domestic market and increased farmers' interest to ensure sustained yield at lower costs.
"Since the beginning of organic farming almost ten years back, acreage in India is still minuscule at 11 lakh hectres. I hope this will grow ten-fold in five years," International Competence Centre for Organic Agriculture President Mukesh Gupta said.
Gupta, who is also Operations Director at Morarka Organic Foods, one of the pioneers in organic farming in India, said growth in the chemical fertiliser-free, pesticide-free process of farming was inevitable in India in sync with the enhanced awareness among the people on the back of higher per capita income.
"Unlike in chemical agriculture, in organic farming you don't use anything from outside for production. Everything you use, is there in the land. No chemical fertiliser, pesticide. This ensures sustainability of yields at no cost. Farmers are now more inclined to this mode of farming. Consumers are also preferring organic products," he said.
Organic farming, though at its infancy in India, is now practiced across the country in states like Himachal Pradesh, Haryana, Rajasthan, Gujarat, Maharashtra, Sikim, Meghalaya, Mizoram, Chattisgarh and Jharkhand.
"The growth in organic farming has been phenomenal in the last three years during which almost 300 products have been made into the list of cultivation under it. We believe that this will go up in the coming days," Gupta said.
The Indian organic product market is currently pegged at Rs 1,500 rore, he said, adding that this would likely to go up to Rs 10,000 crore in the next five years. The global market is over USD 100 billion, he said.
"India exports organic food products worth Rs 350 crore a year now. I believe this would increase to over Rs 3,000 crore in the next five years," Gupta said.
18 Sep, 2010, 02.27AM IST,ET Bureau
Draft mining bill likely to get nod next week
NEW DELHI: The group of ministers (GoM), headed by finance minister Pranab Mukherjee, that is finalising a new mining bill on Friday failed to approve the draft legislation, but hoped that a broad consensus would eventually translate into a final approval at the next meeting.
The bill, which aims to balance aspirations of both investors and project-affected persons, has already gone through marathon discussions in the last couple of years to evolve a consensus amidst divergent views from the Centre, states and the industry.
"It is largely approved. One more meeting remains after which the bill will go to the Cabinet. Whatever we have suggested has by and large been approved. We will work on it," mines minister BK Handique told reporters after the meeting.
Mr Handique has spearheaded a proposal in the bill that makes it mandatory for miners to share 26% of their profits with local people affected by such projects. The mining industry has strongly opposed the proposal.
"All provisions of the draft bill were discussed in detail and a final draft will now be prepared which will be seen by the chairman of the group of ministers. If necessary, the next meeting will discuss all provisions in detail," said steel minister Virbhadra Singh.
The dates for the next meeting could not be immediately ascertained. The new Mines and Minerals (Development and Regulation) Bill has been drafted to implement the new mining policy that was approved based on the recommendations of the Hoda Committee.
Among other things, the draft legislation provides for a seamless transition among different mining licences to ensure that investments made by companies are properly rewarded by way of grant of mineral lease. The draft legislation also provides for sharing of mining profits with project-affected people.
In case of a mine becoming non-functional or slipping into losses, the firm concerned should compensate affected people by paying an amount equal to the royalty given to the state government. Mr Handique said the ministry plans to introduce the bill in the winter session of Parliament to replace the existing Mines and Mineral Development and Regulation Act (MMDR Act), 1957.
The new legislation is being framed after UPA chief Sonia Gandhi voiced concerns over land acquisition norms and favouring the Haryana model, where farmers are provided lucrative compensation in addition to annuity for 33 years.
Besides finance minister Pranab Mukherjee, the group includes home minister P Chidambaram, steel minister Virbhadra Singh, law minister V Moily, mines minister BK Handique, commerce minister Anand Sharma, tribal affairs minister K Bhuria among others.
18 Sep, 2010, 02.24AM IST, Deepshikha Sikarwar,ET Bureau
RBI snubs finmin move to set up financial law body
NEW DELHI: The Reserve Bank of India, or RBI, has disputed the contention of the government that domestic financial sector regulations are archaic, signalling its resistance to the attempt by the finance ministry to rewrite laws governing this sector.
Finance minister Pranab Mukherjee had announced in the budget his government's plan to rewrite financial sector laws through a Financial Sector Legislative Reforms Commission, or FSLRC. The aim was to simplify and streamline the legal framework to possibly suggest a completely new regulatory structure.
The trigger for this was the turf war between securities market regulator Sebi and insurance watchdog Irda over regulation of unit-linked insurance plans, or Ulips, an insurance-cum-investment product.
The lack of clarity in the laws administered by these regulators, and also RBI, was one of the reasons cited by the government for its inability to pronounce a judgement on the turf war. To address this issue, the government announced the creation of the FSLRC.
In its response to the consultation paper circulated by the government to all regulators on the new commission, RBI has said the laws now in vogue are not archaic, having stood the test of one of the greatest financial sector crises the world has seen, two years ago.
The central bank's objections are largely on account of the terms of reference laying out clearly that the regulations are very old and out of sync with the present times, a government official with knowledge of the issue told ET.
Most of the financial sector laws and regulators came into existence at different points in time, leading to a certain degree of overlap and a lack of clarity in their functions and provoking turf wars.
The commission's mandate will be to examine the kinds of inconsistencies and overlaps in financial sector laws and to work out a standard principle-based financial regulation. It may also review the structured objectives of each of the financial sector regulators so there is no overlap among supervisors when it comes to regulation of different products.
"There is a need to rewrite them to bring about coherence in overall framework in line with the requirements of the modern world," said Ajay Shah, professor, National Institute of Public Finance and Policy, or NIPFP, an independent policy advisory body.
The preamble of the RBI Act, dating back to 1934, still mentions the move to create RBI as a temporary provision, and although numerous amendments to this legislation have been carried out, this part is yet to be erased.
There is an ongoing row between the government and the central bank over the formation of the Financial Stability and Development Council, or FSDC, with the central bank saying the council's mandate should be restricted to discussing issues relating to financial stability.
Coordinate policies against protectionism: India to G20
At a time when states in the US are embracing policies that reek of protectionism, India today asked a grouping developed and developing economies to act towards keeping trade open and ensure financial stability.
"The immediate spheres of such coordination (between G20 member countries) are macroeconomic policies and exit strategies, pace of regulatory reforms to ensure financial stability without affecting prospects of growth... keep international trade open and avoiding protectionism," Finance Pranab Mukherjee said at a financial crisis conference here.
He further said that G20 will need to coordinate policy actions in a manner that can ensure strong, sustainable and balanced growth.
The state of Ohio in the US earlier this month banned outsourcing of state IT contracts to foreign companies. The move came on the heels of Washington's decision to hike visa fee for H-1B and L1 categories. These moves are expected to hurt the USD 50-billion Indian IT market, which garners a major chunk of revenues from American companies.
The outsourcing ban by Ohio has come as a disappointment to India, and Commerce Minister Anand Sharma said on Tuesday that the move is "not welcome at all."
Finance ministers of G20 countries would meet next month, which will be followed by the fifth G-20 Summit of heads of states on November 11 and 12 in South Korea.
G20 is a group of 20 countries, comprising both developed and developing nations including India.
Mukherjee said that as clearly indicated by the current global crisis, no country is insulated from global economy and the crisis is turning out to be much deeper and broader than expected.
"It began as financial crises, which then became a general economic crisis, it is also becoming an employment crisis. As clearly indicated by the current crisis, no country is insulated and it is turning out to be much deeper and broader than expected," he added.
India Inc's take on RBI policy-review
ET BUREAU
The Reserve Bank of India raised interest rates on Thursday, keeping up its fight against inflation.
The RBI lifted the repo rate, at which it lends to banks, by 25 basis points to 6 percent and raised the reverse repo rate, used to absorb excess cash, by 50 basis points to 5 percent. The hike in rates will lead to a rise in cost of funds for the banks and eventually makes loans expensive, which will reduce consumption.
The quarterly review evoked quick reactions from market analysts, some of whom believed RBI's decision to raise key short-term policy rates was more than investors expected. Here, we take opinions from bigwigs of the Corporate world.
BJP demands urgent steps to prevent rotting of food grains
Targetting the Central government over the issue of rotting of food grains in various FCI godowns, the BJP today held a dharna here and demanded better storage facilities, minimum support price for farmers' produce among requirements to tide over the crisis.
Making the demands, former BJP president Rajnath Singh told the gathering, comprising farmers from across the national capital, that it was time for them to unite and corner the government on the issue.
"There is an urgent need for directives to Food Corporation of India for compulsory laboratory testing of all food grains lying in its godowns. The government has to upgrade its storage facilities and improve technology required for this purpose," Singh told the gathering.
The BJP dharna comes just days after a delegation from the main opposition party approached the National Human Rights Commission and gave it two dozen sample of rotten food grain collected from various FCI godowns throughout the country.
Later, talking to reporters, Singh said, "I want to ask Agriculture Minister Sharad Pawar, who has to take a decision regarding food security? State governments can take a call but the responsibility is on the Centre as procurement is in their hands".
He said the issue of fixing Minimum Support Prices (MSP) for farmers' produce is also the Centre's responsibility and "it cannot escape from its responsibility. By saying that agriculture is a state subject, it is playing a cruel joke on farmers".
Regarding the issue of MSP, he said the BJP was of the opinion that the Commission of Agriculture Cost and Prices (CACP) should be given statutory status and if this body decided and recommends the MSP, then the government should abide by that.
He said it was a matter of "national shame" that nearly Rs 60,000 crore worth food grains have gone waste in the past few months.
On August 12, the Supreme Court had observed that the government should ensure free distribution of food grains to the poor instead of letting them rot.
Telgi gets 7 yrs RI in fake stamp paper case
A special court today sentenced prime accused Abdul Karim Telgi to seven years of rigorous imprisonment in a 2001 case relating to the multi-crore fake stamp paper scam. Special Court Judge Chandrashekhar Patil sentenced 16 other accused to five years rigorous imprisonment each.Telgi was also imposed a fine of Rs 50,000 each for the two charges registered under sections 256 and 259 of the IPC against him (for possession of material for printing fake stamp paper), while the 16 others were imposed a fine of Rs 10,000 each. On September 14, Telgi, the kingpin in the scam, and the 16 others were convicted by the Special Court in the case registered in Madiwala police station in 2001.
Telgi has been convicted in 46 such other cases across the country, including seven in Bangalore.
The Jammu and Kashmir situation: The Azadi debate - Part II
New Delhi, Sept.18 (ANI): The Pandits of the Kashmir Valley, currently in exile, the Dogras and Muslims of Jammu, the Buddhists of Ladhakh, the Shias and Gujjars in different parts of the state have never been part of any Azadi movement, let alone any Islamic Azadi.They, in fact, are fairly clear that they want greater integration with a secular India, let alone any loosening of ties, what to talk about any separation from India into an Islamic Kashmir. In fact, the greater the cry for Azadi, the greater is the desire for integration in Jammu and Ladhakh.
So, what does Azadi mean for them? It means the continued domination of valley politics and valley politicians over their affairs. It means the continued neglect of their areas, witnessed during the last 63 years. And, if Azadi is Islamic, it means further discrimination and insecurity.
Finally and perhaps crucially, the demand for 'Azadi' if understood as freedom from India is clearly unacceptable to the India state. No Government of India can accept the demand for 'Azadi' over the needs of 'atoot ang'. The people of India would never spare such a government, whatever its shape and hue and whatever its majority.
So where does this leave the Azadi debate?
The example of the 'raiders' in 1947 is clear proof that an Azad or 'independent' Kashmir would not be able to survive or preserve its independence. Even Gilgit, which overthrew the Maharaja's rule on November 1, 1947 and declared itself independent, could remain so only for less than three weeks before Pakistan took control of the territory.
The colour of Azadi cannot be green. The minorities would not accept it and it would mean, at a minimum, the delinking of Jammu and Ladakh from the valley. Equally, the colour of Azadi cannot be saffron. The majority would not accept it. Only under the 'trianga', a secular India, can the true essence of Kashmir flower and prosper. It is here that their distinct cultural and ethnic identity would be preserved and strengthened.
Azadi, too, cannot be accession to Pakistan. Barring a few die-hard votaries, no one in his right mind would think of joining Pakistan. Not only is there distrust of the Punjabi-Pathan elements, there is a realization that Kashmir's cultural identity would have no chance of survival in a failing and increasingly Talibanised Pakistan.
Azadi, therefore, has to be freedom from Pakistan, once and for all and freedom to enjoy what the other citizens of India take for granted.
But, there has to be a limit to what the Kashmiris think they can extract from India in the garb of Azadi. Bargaining for concessions is a democratic right that all Indians enjoy, no less the Kashmiri. But where bargaining is perceived as blackmailing, and especially if it has an international dimension, then what gets compromised is the freedom to enjoy what others in India enjoy. It also undercuts support that other civil society members and political parties in India can offer.
At the same time, the Government of India needs to treat the cry of Azadi as a cry for justice, a cry to undo past wrongs, and above all, a cry to give the Kashmiris a stake and pride in India, rather than bullets and doles, an assurance that their identity would be as secure in India as is say the Tamil identity or the Marathi identity or the Bengali identity.
Today, clearly, the Kashmiris don't perceive this to be the case. Hence, the cry for Azadi for want of another slogan that can penetrate the ear plugs worn by the Indian leadership. By Salim Haq (ANI)
Attn:News Editors/News Desks: This is Part-II of the article titled The Jammu and Kashmir situation: The Azadi debate. The views expressed in the article are that of the author Mr. Salim Haq.
Munda perfect to rule but can't say for how long: Soren
Bokaro, Sep 18 (IANS) Jharkhand Mukti Morcha (JMM) chief Shibu Soren Saturday said Chief Minister Arjun Munda was the perfect choice to rule the state but also added that he can't predict the longevity of the Bharatiya Janata Party (BJP) government.'I blessed Munda to rule Jharkhand as he is the perfect person for the job. But I cannot predict the longevity of the government. It is premature to predict life of a newborn government,' Soren told reporters here.
He blamed fractured mandate for the political instability in the state.
'We (politicians) have learnt lessons from the past and the present government is dedicated to the development of the state,' he added.
Munda became the eighth chief minister of Jharkhand Sep 11 with the support of the JMM, All Jharkhand Students Union (AJSU), the Janata Dal-United (JD-U) and two independent legislators. He proved majority on the floor of the state assembly Sep 14.
Mufti Sayeed meets Left leaders on Kashmir situation
As unrest continues in Jammu & Kashmir, its main opposition PDP has been reaching out to various national parties as part of which its patron Mufti Mohd Sayeed met Left leaders to suggest how the situation in the state could be defused.Sayeed met CPI(M) General Secretary Prakash Karat today and CPI leaders A B Bardhan and D Raja yesterday to exchange views on the turmoil in the state.
In these meetings, Sayeed is understood to have pinned hopes on the upcoming visit of an all-party delegation to the state on Monday to seek views of cross-section of people there.
He has suggested that the delegation should meet the families of victims of police firing.
Representatives of the Left parties, including CPI(M) politburo member Sitaram Yechury and CPI's Gurudas Dasgupta, will be part of the all-party delegation that will visit Kashmir and Jammu for two days.
The Left parties, which have been for long demanding sending of such a delegation to the valley, favoured beginning of a political process with all sections in the state and these views were conveyed to Sayeed, the former Chief Minister.
Besides, they want the immediate release of youth arrested during the three-month long protests, barring those who have been slapped with serious charges.
They have sought measures for providing economic relief for the continuous disruption of business and economic activities in the valley with special emphasis on providing employment.
The Left parties have also been asking the government to withdraw the Disturbed Areas proclamation from certain cities to make the AFSPA redundant in these areas.
| Saturday September 18, 08:50 PM |  * |
Most emerging stocks set to outpace rich world
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| Click to enlarge photo |
By Andy Bruce
LONDON (Reuters) - Most emerging stock markets will finish 2010 with much stronger gains than their rich world counterparts, according to Reuters polls that showed only Japanese and Chinese bourses ending the year in double-digit slumps.
Faced with a likely cooling of the global economic recovery and stringent budget austerity measures taking effect in Europe, the more than 350 analysts surveyed by Reuters bumped down forecasts for most major stock markets compared with June.
Nowhere was this more apparent than in Japan. Conducted before Japan's currency intervention on Wednesday, the poll exposed the strong yen's stranglehold on Nikkei-listed businesses in brutal fashion.
In June, analysts expected the Nikkei to end this year 6.7 percent higher than its 2009 closing level. Now they see it finishing 2010 almost 12 percent in the red.
While the likes of Brazil, India and Russia will power ahead of others, the survey showed Wall Street faring better than most of its rich world peers, despite lingering worries over the strength of the U.S. economic recovery.
"Some of the economic data that has come out ... has not removed the fear of double-dip (recession) but has certainly dissipated it to a significant degree," said Tobias Levkovich, chief U.S. equity strategist at Citigroup in New York.
For a graphic on 2010 equity performance, click http://graphics.thomsonreuters.com/F/09/GLB_EQPOLL0910.gif
Cheered by some promising U.S. unemployment and trade deficit figures last week, forecasters expect the Standard & Poor's 500 to gain more than 6 percent between Wednesday's close and the year-end, and the Dow Jones Industrial Average more than 5 percent.
European indexes will ascend slowly through to the end of the year, as will Australian and Canadian shares, although the Italian FTSE MIB still looks likely to end 2010 in negative territory.
Britain's FTSE 100, something of a straggler so far this year, could bounce around 8 percent by mid-2011 thanks to support from overseas earnings.
And despite the dire full-year outlook for Japan's Nikkei in 2010, it too will rebound and at a stronger pace than any of its rich-world counterparts. Analysts forecast gains of around 11 percent from the end of 2010 through to mid-2011.
"The market will likely remain under pressure until next spring. I expect the benchmark to hit a trough in October before companies report their first-half earnings results," said Masahiro Ayukai, senior strategist at Mitsubishi UFJ Morgan Stanley Securities.
CHINA LAGGING
Emerging stock indexes -- which suffered terribly in the aftermath of Lehman Brothers' collapse two years ago -- have far outperformed their rich-world counterparts, where trading volumes remain historically thin.
Chinese stocks are a big exception to this trend. The Shanghai Composite Index, which soared 80 percent in 2009, has shed about a fifth of its value this year.
Chinese companies have suffered the brunt of the government's attempts to cool an overheating economy, notably with strict rules to control a rampant real estate sector and tightening liquidity.
While Shanghai stocks will likely end 2010 more than 22 percent in the red, the poll showed at least a partial recouping of these losses by mid-2011.
"The index has little space to rise against the backdrop of the severe property policy, but the low valuations of large cap shares are a supportive factor going forward," said Huang Xiangbin, analyst at Cinda Securities in Beijing.
Hong Kong's Hang Seng index and South Korea's KOPSI look more likely to benefit from China's fast economic growth, although worries about demand for personal computers will hurt Taiwan's tech-heavy stock market.
Russia's RTS offers the most lucrative returns from now until the end of the year, the poll showed, but also some of the riskiest.
Strategists said the RTS could gain more than 18 percent from now until the year's end and 33 percent by mid-2011, although they stressed that the Russian market was at the mercy of external forces and a volatile oil market.
The ascent of the BSE Sensex (^BSESN : 19594.75 +177.26
"The long-term story definitely holds good with improving macroeconomic fundamentals," said Gajendra Nagpal, Chief Executive of Unicon Financial, pointing to robust summer monsoon rains and accelerating economic growth.
The South African JSE Top-40 looks likely to rival Indian growth through to the middle of next year, with Brazil's Bovespa not far behind.
"Worries (abroad) that were leaving the market uneasy have receded a bit. That leaves investors free to focus on Brazil's internal factors, including its fundamentals," said Paulo Esteves, chief analyst with Gradual Investimentos.
(Polling by Bangalore Polling Unit and correspondents in Reuters bureaux in New York, Toronto, Sao Paolo, London, Frankfurt, Milan, Moscow, Mumbai, Hong Kong, Seoul, Tokyo, Taipei, Sydney, Johannesburg and Shanghai; Analysis by Yati Himatsingka and Anooja Debnath; Editing by Ross Finley and Jon Loades-Carter)
(For more business news visit Reuters India)
| Saturday September 18, 04:02 AM | Source: Indian Express Finance |
From grain to gold, commodities shoot through the roof
By fe BureauThe majority of the commodities complex, be it gold, grain or metals, rose sharply across the world Friday, tagging their Indian counterparts along, as the dollar weakened and investors gained strength from China's assurance of maintaining the existing loose monetary policy stance.
China's view on continuing its loose monetary policy stance had come under question after India unexpectedly raised interest rates Thursday.
Gold hit a new record, corn touched a fresh two-year peak, wheat jumped 2% and base metals rallied in the world markets during the day. Though some of them did retract gains later, experts believe that the bull run is here to stay, at least for the time being.
The People's Bank of China Friday reaffirmed its appropriately loose monetary policy stance and said it would deploy various fiscal and monetary tools to manage inflationary expectations.
"Dollar weakened because of the Fed's move which pushed up precious and base metals across the globe," said Naveen Mathur, associate director, commodities and currencies at Angel Broking. He expected the uptrend to continue for more time in global markets. The rising trend was more evident in industrial metals as investors expected liquidity to remain abundant thanks to the Chinese assurance. Benchmark copper for three-month delivery on the London Metal Exchange traded at $7,770 a tonne at 1900 hrs IST, up from $7,700 at the close of Thursday. The metal used in power and construction earlier hit $7,810, its highest level since April 26. China is the world's top metals consumer and a major reason behind its 140% gain last year.
Falling LME inventories have helped support metal prices in recent months. Latest LME data shows that Thursday, copper stocks slipped 2,950 tonne to 3,84,200 tonne, having fallen from 6-1/2 year highs at 555,075 tonne in mid-February.
Spot gold hit an all-time high of $1,282.75 a troy ounce before easing to $1,276.50 by 1215 GMT (1745 hrs IST), compared with $1,272.20 late in New York on Thursday. It has gained more than $100 or 8.4% since early August. Silver too benefitted from the gains in prices for industrial metals to test the $21-mark. A break above $21.24 would open the way for prices to hit levels last seen in October 1980.In grain, the Chicago Board of Trade (CBOT) corn for December popped through the $5 per bushel level for the first time since late September 2008 on concerns that yields from harvested US crops would be lower than USDA estimates. CBOT wheat gained above 2% over $7.37 per bushel as worries about supply resurfaced. Sugar, too, gained after Goldman Sachs predicted higher prices for the sweetener on concern about global harvests.
"Agriculture commodities - globally as well as in India - is expected to move up or down in the next few weeks on a case-to-case basis, while for metals, the upside has been there for the last few weeks mainly on account of positive economic numbers from China," said Anand James, chief analyst, Geojit Commtrade. Among beverages, robusta coffee for November delivery climbed 0.7% to $1,665 a tonne on NYSE Liffe. Arabica beans for December delivery advanced 0.9% to $1.936 a pound on ICE. Cocoa for December delivery gained 1.5% to 1,913 pounds ($3,003) a tonne on NYSE Liffe. The chocolate ingredient for December delivery rose 2.6% to $2,810 a tonne in New York.
In India, apart from record highs in gold and silver, potato futures touched the upper limit and even crude palm oil and soyoil gained because of strong demand ahead of festivals. Base metal futures followed the global upward trend.
| Saturday September 18, 03:49 AM | Source: Indian Express Finance |
Rs 22-lakh-cr projects to be commissioned by Mar' 13
By fe BureauFresh investment projects worth Rs 22 lakh crore will be commissioned during 2010-13, the Centre for Monitoring Indian Economy (CMIE) said in a press release on Friday. Of these, projects worth Rs 5.5 lakh crore will be commissioned in 2010-11, Rs 8.5 lakh crore in 2011-12 and Rs 8 lakh crore in 2012-13.
"The continuous flow of fresh investment announcements reflects the confidence of Indian corporates and foreign companies in the sustainability of the growth in demand," said Mahesh Vyas, managing director, CMIE. The electricity sector alone is expected to commission projects worth Rs 4.4 lakh crore by March 2013. These will add power generation capacity of 81,000 mw. The private sector will take the lead in capacity addition. Companies like Adani Power and Reliance ADAG group are expected to add power generation capacity of 4,620 mw and 4,640 mw, respectively.
Tata Power and Jindal Power will contribute 2,400 mw each. Among the public sector undertakings, NTPC will add 5,040 mw, Damodar Valley Corporation 4,200 mw, and NHPC 1,861 mw by March 2013. The steel industry is slated to add 729 lakh tonne of fresh production capacity at a cost of Rs 2.4 lakh crore by March 2013. The largest contributor to this will be Jindal Steel (JINDALSTE.NS : 708.4 +10.75
SAIL.NS : 201.65 -0.4
TATASTL.BO : 605.3 +9.95
| Thursday September 16, 07:57 PM | Source: ANI |
Indian economy to grow at 9 per cent in 2011-12, says Pranab Mukherjee
By ANIMumbai, Sep.16 (ANI): Union Finance Minister Pranab Mukherjee said here on Thursday that the country is likely to witness an economic growth rate of nine percent in 2011-12, while it would remain 8.5 percent in the current fiscal(2010-11).
"Indian economy is back on the path of growth. The latest figure released by CSO (Central Statistics Office) and the latest industrial production figures released clearly demonstrate that it would not be difficult to achieve nine percent growth as being projected in my Budget from the year 2011-12, and surely this year, our growth would be not less than 8.5 percent," said Mukherjee while delivering an address during an event.
Addressing a gathering of bankers and other dignitaries on the occasion of concluding ceremony of Platinum Jubilee year of Bank of Maharashtra, Mukherjee said that we would be able to achieve the growth of 9 per cent for the year 2011-12 as projected by him in his last Budget speech.
"For the current year," Mukherjee said, "we have not revised our projections of achieving the growth rate of 8.5 per cent despite achieving the growth of 8.8 per cent in the first quarter of the current financial year."
Stating that the Indian economy was back on growth track, Mukherjee said, "but unless such growth is inclusive, we cannot proceed very far on the road to prosperity."
He said unfortunately, only 37.2% of the total bank branches of Scheduled Commercial Banks were in rural areas and only approximately 40% of the country's population had bank accounts.
"Even in areas that are well covered by banks, there are sections of urban society excluded from the banking system," he said.
The Finance Minister also said, "In the whole gamut of this "inclusive growth" process, financial inclusion constitutes an important corner stone to reach out to "excluded" section of the society, the aam admi, particularly the poor people, the people in unorganised sector, in rural areas, which are not catered to by formal financial institutions, especially banks and FIs and this requires a high level of penetration."
Mukherjee, in his address, said that the banks have been asked to reach to the non banking people especially those in rural areas to achieve the target of providing financial and banking services to all the habitations of population of more than 2000 and above by the year 2012.
He said that the Government has empowered the people by giving them right to information, right to job and right to education backed by legal enactments.
Also present on this occasion were Chief Minister of Maharashtra, Ashok Chavan, Minister of State for Finance, Namo Narain Meena, Minister of State for Communication and IT, Sachin Pilot, Secretary in the Department of Financial Services, R. Gopalan, Chief Post Master General of India and Ms. Rameshwari Handa among others.
The Finance Minister also inaugurated the 1500th branch of Bank of Maharashtra at Gangtok (Sikkim) by pressing a button.
Minister of State for Finance, Namo Narain Meena inaugurated the 75th branch within the current year i.e., 75th year at Jharana, Rajasthan also by pressing a button.
Ashok Chavan, Chief Minister of Maharashtra released a commemorative booklet of Bank of Maharashtra on this occasion while Sachin Pilot, Minister of State for Communication and IT released a special postal cover on Bank of Maharashtra. (ANI)
| FII boost for India Today's Market: Saturday, 18 Sep (RoundUp) |
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| India was the biggest gainer this week, up 4.2%, and crossing the 19,000 mark on strong FII inflows. This is the second straight week when India has led the world markets. The biggest loser was China, down 2.4%, as a result of the monetary policy outlook and slowdown in overseas demand. Other than China, the remaining Asian markets closed the week in the green with Japan, Hong Kong and Singapore up 4.2%, 3.4% and 1.8% respectively. In the Americas, the US closed the week up 1.4%, while Brazil was up 0.4%. In Europe, the markets were flat with UK closing marginally up at 0.1% and Germany and France marginally down at 0.1% each.
Moving on to the performance of sectoral indices in India - buying interest was witnessed across the board during the week with stocks from the banking space leading the rally. BSE-Banking index was the top gainer of the week up 5.9%, while BSE-Oil & Gas index followed close behind with a gain of 5.5%. Among the other top performers BSE-Realty index was up 4.5% while the BSE-Sensex was up 4.2%. BSE-Consumer Durable closed the week with a gain of 4.1%. BSE-Smallcap index was the only one to close in the red, down 0.1%. Among the other laggards for the week, BSE-Midcap index was up by 0.7%, while BS-Power index was up 1.4%. BSE-PSU and BSE-Auto indices gained 1.9% and 2% respectively.
Moving on to key corporate developments during the week - the government has finalized a gas allocation policy for the power sector. As per this policy, 42% of domestic gas would be reserved for government controlled companies. In addition to this, power plants located in special economic zones (SEZ) and the Delhi-Mumbai industrial corridor would get 8% each. Of the remaining 50% gas, which is reserved for the power sector, 40% would be reserved for the independent power producers. However, no power plant will be assured gas for its entire capacity. The policy also lays down that domestic gas linkage would be provided for 60 % of the plant's capacity and the plant would need to be located near a gas pipeline. To eliminate subjectivity in allocation, the policy has defined a weight system under which a maximum of 30 points have been allotted for progress on land acquisition, 20 points for coal shortage, 20 points for using sea water and 10 points of having environmental clearance. It may be noted that the gas-based capacity in the country as on June 30, 2010 was 17,220.85 Mw, about 10.6 % of the total installed capacity of 162,366.8 Mw Moving to the auto sector, Maruti expects its sales momentum to slow down in the second half of the fiscal compared to the 25% YoY growth achieved in the first half of the year. The reasons for this are the high base effect and inflationary pressures. Although Maruti is anticipating lower growth, it expects to maintain the number of vehicles sold per month at the historical monthly average. The company has seen its market share fall under 50% for the first time in history. This is due to production constraints which have resulted in high waiting period for some of its models. However, the company is planning to ramp up its production from October to produce 110,000 cars a month, an increase of 10% over the current levels. Maruti is also planning to expand its production capacity to 1.75 m units per annum by 2013 from the exiting 1.2 m units. In news from oil & gas sector, Reliance Industries is considering investment in Chesapeake Energy Corp.'s shale gas assets. Chesapeake, which has about 600,000 acres in the Eagle Ford shale in south Texas, has confirmed that it is negotiating joint ventures with a couple of parties. Reliance has spent US$3.4 bn since April this year on buying shale gas assets in the U.S. This includes US$1.3 bn spent in purchasing areas in the Eagle Ford formation from Pioneer Natural Resources Co and Marcellus shale gas areas in central and northeast Pennsylvania from Atlas Energy. Global giants like Royal Dutch Shell and BP are also keen on acquiring assets in shale gas in the US where shale gas accounted for about 10% of total output in 2008. This is seen as a long term investment for Reliance, as it is difficult to make money in the short term due to low prices of gas currently. Moving to alternate power segment, Suzlon has announced aggressive plans for its Chinese operations. The company is planning to start a research and development (R&D) centre in the country. This is in addition to the company's recently opened R&D centre in Germany and to the one at its headquarters in Pune. Suzlon also plans to list its Chinese subsidiary, Suzlon Energy (Tianjin), on the Hong Kong Stock Exchange in a few years. The company is following this strategy to take advantage of the local Chinese market and compete with its Chinese rivals. It may be noted that Suzlon has been present in China since 2006 and is the 8th largest wind energy company in the country. China is one of the fastest growing markets for alternate energy in the world and has added 13.7 Gigawatts (GW) of wind energy last year. At present it has an installed capacity of 25.85 GW. In news from the FMCG sector, the biggest gainer of the week has been Godrej Consumer. As per an interview with Mr. Adi Godrej, chairman and managing director of Godrej, the company is looking to increase the price of soaps this month. This is being done as the price of raw material particularly vegetable oil has rising sharply over the past few months. In fact the company has already increased the price of its hair dyes due to this. So far, Godrej has been judicious in increasing prices and plans to be so going forward as it only wants to maintain its margins. In its insecticide business, the company is seeing good growth as a result of little competitive pressure and the malaria and dengue scare. This year the company is looking to grow by over 20% YoY. Movers and shakers during the week
Source: Equitymaster In other news, the higher growth rate of the Indian economy is being reflected in a significant increase in employment generation as well. According to a finance ministry official, the latest figures based on a sample survey of eight sectors show that as many as 1.1 m jobs were added between March, 2009, and March, 2010. These eight sectors include information technology, information technology enabled services, gems and jewellery, handloom, textiles, leather, metals, engineering goods and automobiles. These are labor intensive sectors which mainly cater to the export markets and had seen massive job losses in the aftermath of the global financial meltdown. The total employment in the Indian economy during 2009-10 has been estimated at 506 m with an average annual growth rate of 2% for the period 2004-05 to 2009-10. The total labor force in the country for 2009-10 has been estimated at 520 m and the figure is expected to go up to 574 m in 2014- 15. This means that 10 to 11 m new entrants are expected to join the labor force each year. As per estimates employment must grow at least at 2.5% per annum for the next five years so that most of the open unemployment, including the additions to the labor force due to the increasing population is taken care of. This translates to a 9% GDP growth rate in order to absorb a 2.5% annual increase in labor at the current level of absorption. While the government talks of inclusive growth, it is important to ensure a high growth rate of the economy as well if a livelihood is to be provided to the people. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Over a Year: Top Losers | Top Gainers | More |
| FII boost for India Today's Market: Saturday, 18 Sep (RoundUp) |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| India was the biggest gainer this week, up 4.2%, and crossing the 19,000 mark on strong FII inflows. This is the second straight week when India has led the world markets. The biggest loser was China, down 2.4%, as a result of the monetary policy outlook and slowdown in overseas demand. Other than China, the remaining Asian markets closed the week in the green with Japan, Hong Kong and Singapore up 4.2%, 3.4% and 1.8% respectively. In the Americas, the US closed the week up 1.4%, while Brazil was up 0.4%. In Europe, the markets were flat with UK closing marginally up at 0.1% and Germany and France marginally down at 0.1% each.
Moving on to the performance of sectoral indices in India - buying interest was witnessed across the board during the week with stocks from the banking space leading the rally. BSE-Banking index was the top gainer of the week up 5.9%, while BSE-Oil & Gas index followed close behind with a gain of 5.5%. Among the other top performers BSE-Realty index was up 4.5% while the BSE-Sensex was up 4.2%. BSE-Consumer Durable closed the week with a gain of 4.1%. BSE-Smallcap index was the only one to close in the red, down 0.1%. Among the other laggards for the week, BSE-Midcap index was up by 0.7%, while BS-Power index was up 1.4%. BSE-PSU and BSE-Auto indices gained 1.9% and 2% respectively.
Moving on to key corporate developments during the week - the government has finalized a gas allocation policy for the power sector. As per this policy, 42% of domestic gas would be reserved for government controlled companies. In addition to this, power plants located in special economic zones (SEZ) and the Delhi-Mumbai industrial corridor would get 8% each. Of the remaining 50% gas, which is reserved for the power sector, 40% would be reserved for the independent power producers. However, no power plant will be assured gas for its entire capacity. The policy also lays down that domestic gas linkage would be provided for 60 % of the plant's capacity and the plant would need to be located near a gas pipeline. To eliminate subjectivity in allocation, the policy has defined a weight system under which a maximum of 30 points have been allotted for progress on land acquisition, 20 points for coal shortage, 20 points for using sea water and 10 points of having environmental clearance. It may be noted that the gas-based capacity in the country as on June 30, 2010 was 17,220.85 Mw, about 10.6 % of the total installed capacity of 162,366.8 Mw Moving to the auto sector, Maruti expects its sales momentum to slow down in the second half of the fiscal compared to the 25% YoY growth achieved in the first half of the year. The reasons for this are the high base effect and inflationary pressures. Although Maruti is anticipating lower growth, it expects to maintain the number of vehicles sold per month at the historical monthly average. The company has seen its market share fall under 50% for the first time in history. This is due to production constraints which have resulted in high waiting period for some of its models. However, the company is planning to ramp up its production from October to produce 110,000 cars a month, an increase of 10% over the current levels. Maruti is also planning to expand its production capacity to 1.75 m units per annum by 2013 from the exiting 1.2 m units. In news from oil & gas sector, Reliance Industries is considering investment in Chesapeake Energy Corp.'s shale gas assets. Chesapeake, which has about 600,000 acres in the Eagle Ford shale in south Texas, has confirmed that it is negotiating joint ventures with a couple of parties. Reliance has spent US$3.4 bn since April this year on buying shale gas assets in the U.S. This includes US$1.3 bn spent in purchasing areas in the Eagle Ford formation from Pioneer Natural Resources Co and Marcellus shale gas areas in central and northeast Pennsylvania from Atlas Energy. Global giants like Royal Dutch Shell and BP are also keen on acquiring assets in shale gas in the US where shale gas accounted for about 10% of total output in 2008. This is seen as a long term investment for Reliance, as it is difficult to make money in the short term due to low prices of gas currently. Moving to alternate power segment, Suzlon has announced aggressive plans for its Chinese operations. The company is planning to start a research and development (R&D) centre in the country. This is in addition to the company's recently opened R&D centre in Germany and to the one at its headquarters in Pune. Suzlon also plans to list its Chinese subsidiary, Suzlon Energy (Tianjin), on the Hong Kong Stock Exchange in a few years. The company is following this strategy to take advantage of the local Chinese market and compete with its Chinese rivals. It may be noted that Suzlon has been present in China since 2006 and is the 8th largest wind energy company in the country. China is one of the fastest growing markets for alternate energy in the world and has added 13.7 Gigawatts (GW) of wind energy last year. At present it has an installed capacity of 25.85 GW. In news from the FMCG sector, the biggest gainer of the week has been Godrej Consumer. As per an interview with Mr. Adi Godrej, chairman and managing director of Godrej, the company is looking to increase the price of soaps this month. This is being done as the price of raw material particularly vegetable oil has rising sharply over the past few months. In fact the company has already increased the price of its hair dyes due to this. So far, Godrej has been judicious in increasing prices and plans to be so going forward as it only wants to maintain its margins. In its insecticide business, the company is seeing good growth as a result of little competitive pressure and the malaria and dengue scare. This year the company is looking to grow by over 20% YoY. Movers and shakers during the week
Source: Equitymaster In other news, the higher growth rate of the Indian economy is being reflected in a significant increase in employment generation as well. According to a finance ministry official, the latest figures based on a sample survey of eight sectors show that as many as 1.1 m jobs were added between March, 2009, and March, 2010. These eight sectors include information technology, information technology enabled services, gems and jewellery, handloom, textiles, leather, metals, engineering goods and automobiles. These are labor intensive sectors which mainly cater to the export markets and had seen massive job losses in the aftermath of the global financial meltdown. The total employment in the Indian economy during 2009-10 has been estimated at 506 m with an average annual growth rate of 2% for the period 2004-05 to 2009-10. The total labor force in the country for 2009-10 has been estimated at 520 m and the figure is expected to go up to 574 m in 2014- 15. This means that 10 to 11 m new entrants are expected to join the labor force each year. As per estimates employment must grow at least at 2.5% per annum for the next five years so that most of the open unemployment, including the additions to the labor force due to the increasing population is taken care of. This translates to a 9% GDP growth rate in order to absorb a 2.5% annual increase in labor at the current level of absorption. While the government talks of inclusive growth, it is important to ensure a high growth rate of the economy as well if a livelihood is to be provided to the people. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Over a Year: Top Losers | Top Gainers | More |
| FII boost for India Today's Market: Saturday, 18 Sep (RoundUp) |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| India was the biggest gainer this week, up 4.2%, and crossing the 19,000 mark on strong FII inflows. This is the second straight week when India has led the world markets. The biggest loser was China, down 2.4%, as a result of the monetary policy outlook and slowdown in overseas demand. Other than China, the remaining Asian markets closed the week in the green with Japan, Hong Kong and Singapore up 4.2%, 3.4% and 1.8% respectively. In the Americas, the US closed the week up 1.4%, while Brazil was up 0.4%. In Europe, the markets were flat with UK closing marginally up at 0.1% and Germany and France marginally down at 0.1% each.
Moving on to the performance of sectoral indices in India - buying interest was witnessed across the board during the week with stocks from the banking space leading the rally. BSE-Banking index was the top gainer of the week up 5.9%, while BSE-Oil & Gas index followed close behind with a gain of 5.5%. Among the other top performers BSE-Realty index was up 4.5% while the BSE-Sensex was up 4.2%. BSE-Consumer Durable closed the week with a gain of 4.1%. BSE-Smallcap index was the only one to close in the red, down 0.1%. Among the other laggards for the week, BSE-Midcap index was up by 0.7%, while BS-Power index was up 1.4%. BSE-PSU and BSE-Auto indices gained 1.9% and 2% respectively.
Moving on to key corporate developments during the week - the government has finalized a gas allocation policy for the power sector. As per this policy, 42% of domestic gas would be reserved for government controlled companies. In addition to this, power plants located in special economic zones (SEZ) and the Delhi-Mumbai industrial corridor would get 8% each. Of the remaining 50% gas, which is reserved for the power sector, 40% would be reserved for the independent power producers. However, no power plant will be assured gas for its entire capacity. The policy also lays down that domestic gas linkage would be provided for 60 % of the plant's capacity and the plant would need to be located near a gas pipeline. To eliminate subjectivity in allocation, the policy has defined a weight system under which a maximum of 30 points have been allotted for progress on land acquisition, 20 points for coal shortage, 20 points for using sea water and 10 points of having environmental clearance. It may be noted that the gas-based capacity in the country as on June 30, 2010 was 17,220.85 Mw, about 10.6 % of the total installed capacity of 162,366.8 Mw Moving to the auto sector, Maruti expects its sales momentum to slow down in the second half of the fiscal compared to the 25% YoY growth achieved in the first half of the year. The reasons for this are the high base effect and inflationary pressures. Although Maruti is anticipating lower growth, it expects to maintain the number of vehicles sold per month at the historical monthly average. The company has seen its market share fall under 50% for the first time in history. This is due to production constraints which have resulted in high waiting period for some of its models. However, the company is planning to ramp up its production from October to produce 110,000 cars a month, an increase of 10% over the current levels. Maruti is also planning to expand its production capacity to 1.75 m units per annum by 2013 from the exiting 1.2 m units. In news from oil & gas sector, Reliance Industries is considering investment in Chesapeake Energy Corp.'s shale gas assets. Chesapeake, which has about 600,000 acres in the Eagle Ford shale in south Texas, has confirmed that it is negotiating joint ventures with a couple of parties. Reliance has spent US$3.4 bn since April this year on buying shale gas assets in the U.S. This includes US$1.3 bn spent in purchasing areas in the Eagle Ford formation from Pioneer Natural Resources Co and Marcellus shale gas areas in central and northeast Pennsylvania from Atlas Energy. Global giants like Royal Dutch Shell and BP are also keen on acquiring assets in shale gas in the US where shale gas accounted for about 10% of total output in 2008. This is seen as a long term investment for Reliance, as it is difficult to make money in the short term due to low prices of gas currently. Moving to alternate power segment, Suzlon has announced aggressive plans for its Chinese operations. The company is planning to start a research and development (R&D) centre in the country. This is in addition to the company's recently opened R&D centre in Germany and to the one at its headquarters in Pune. Suzlon also plans to list its Chinese subsidiary, Suzlon Energy (Tianjin), on the Hong Kong Stock Exchange in a few years. The company is following this strategy to take advantage of the local Chinese market and compete with its Chinese rivals. It may be noted that Suzlon has been present in China since 2006 and is the 8th largest wind energy company in the country. China is one of the fastest growing markets for alternate energy in the world and has added 13.7 Gigawatts (GW) of wind energy last year. At present it has an installed capacity of 25.85 GW. In news from the FMCG sector, the biggest gainer of the week has been Godrej Consumer. As per an interview with Mr. Adi Godrej, chairman and managing director of Godrej, the company is looking to increase the price of soaps this month. This is being done as the price of raw material particularly vegetable oil has rising sharply over the past few months. In fact the company has already increased the price of its hair dyes due to this. So far, Godrej has been judicious in increasing prices and plans to be so going forward as it only wants to maintain its margins. In its insecticide business, the company is seeing good growth as a result of little competitive pressure and the malaria and dengue scare. This year the company is looking to grow by over 20% YoY. Movers and shakers during the week
Source: Equitymaster In other news, the higher growth rate of the Indian economy is being reflected in a significant increase in employment generation as well. According to a finance ministry official, the latest figures based on a sample survey of eight sectors show that as many as 1.1 m jobs were added between March, 2009, and March, 2010. These eight sectors include information technology, information technology enabled services, gems and jewellery, handloom, textiles, leather, metals, engineering goods and automobiles. These are labor intensive sectors which mainly cater to the export markets and had seen massive job losses in the aftermath of the global financial meltdown. The total employment in the Indian economy during 2009-10 has been estimated at 506 m with an average annual growth rate of 2% for the period 2004-05 to 2009-10. The total labor force in the country for 2009-10 has been estimated at 520 m and the figure is expected to go up to 574 m in 2014- 15. This means that 10 to 11 m new entrants are expected to join the labor force each year. As per estimates employment must grow at least at 2.5% per annum for the next five years so that most of the open unemployment, including the additions to the labor force due to the increasing population is taken care of. This translates to a 9% GDP growth rate in order to absorb a 2.5% annual increase in labor at the current level of absorption. While the government talks of inclusive growth, it is important to ensure a high growth rate of the economy as well if a livelihood is to be provided to the people. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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No invite from
Centre to meet all-party team: Mirwaiz
Chairman of the moderate faction of Hurriyat Conference Mirwaiz Umar Farooq today said he had not received any invitation from the Centre for interacting with the all-party delegation scheduled to arrive here on Monday. "We have not received a formal invitation so far.We have only come to know about it through the media and it would not be prudent to react on media reports," the Mirwaiz told PTI. The delegation will visit Kashmir to interact with a cross section of the society, including separatist leaders, to find a solution to the present unrest in the Valley, which has left 98 persons dead and hundreds others injured. The decision to send the delegation was taken at an all- party meeting chaired by Prime Minister Manmohan Singh in Delhi on Wednesday to assess the ground situation and submit a report to the Centre.
The Mirwaiz has been invited by the Organisation of Islamic Conference (OIC) to attend a meeting on Jammu and Kashmir and a foreign ministers'' meeting in New York later this month. The hard line faction of Hurriyat Conference led by Syed Ali Shah Geelani has decided not to meet the all-party delegation saying it did not have the mandate to hold talks beyond the Constitution of India.
"Since the mandate of the delegation is limited to talking within the framework of the Indian constitution, we have decided not to meet it," a senior hard line Hurriyat leader said after the meeting of the Majlis-e-Shoura (Advisory Council) here. He said Hurriyat will participate in talks with the Centre only if it accepted Jammu and Kashmir as a dispute yet to be resolved.
In a statement issued after the meeting, Geelani asserted that wars and confrontations do not resolve disputes and the parties concerned have to come to the table even after war. "But the realistic approach needed for holding successful talks is missing on part of Government of India," the hard line leader said.
He urged the people to hold banners and placards calling for demilitarisation of the state during the visit of the all- party delegation to present a true picture of the wishes and aspirations of the people here.
Ayodhya verdict: NBA issues guidelines to broadcasters
As the Ayodhya title suit verdict date nears, the News Broadcasters Association has set guidelines for electronic media asking them not to speculate about the judgement and not to show the footage of 1992 Babri Masjid demolition.
The guidelines say that the Ayodhya issue is a matter in which "extra care" is necessary to ensure that the telecast of any news relating to it should not be sensational, provocative or inflammatory.
"The basic guideline to be adhered to is that all such news should conform strictly to sub-serving the public interest of maintaining communal harmony and preservation of the secular ethos of our plural society and it should influence the formation of the correct public opinion," the guidelines said.
It said there should be no broadcast of any speculation of the judgement before it is pronounced and of its likely consequence thereafter which may be sensational, inflammatory or provocative.
"No footage of the demolition of the Babri Masjid is to be shown in any new item relating to the judgement," it said, adding no visuals need be shown depicting celebration or protest of the judgement.
The judgement in the Ram Janambhoomi-Babri Masjid dispute will be delivered on September 24 with the Allahabad High Court yesterday rejecting a petition for mediation on the ground that it was aimed at "creating obstruction" in the final disposal of the matter.
The Uttar Pradesh Government is also beefing up security across the state to deal with any law and order problem that may arise after the court verdict.
The NBA Guidelines said in view of the "ultra sensitive nature" of the Ayodhya issue, the reporting of the judgement in this case requires adherence to the Code of Ethics and certain specific guidelines issued from time to time.
In view of the sensitivity of news reporting on this issue extra care should be taken to ensure accuracy by vetting and clearance at the highest editorial level," it said.
The NBA said it expects strict adherence to these guidelines to avoid any violation which may attract strict action.
Pune lawyer to represent accused in German Bakery blast caseHindustan Times - 2 hours ago Defying a diktat by the local bar association, a Pune lawyer has come forward to represent Himayat Mirza Baig, the main accused in the Germany Bakery blast, saying the lawyers should not prejudge an accused. Sushil Mancharkar has defied the appeal by ... ATS may invoke MCOCA against Pune blast suspectThe Hindu - 3 hours ago PTI The Maharashtra Anti-Terrorism Squad may invoke the stringent MCOCA against the two alleged LeT operatives, one of them a Pune blast suspect, arrested last week. Nearly seven months after a powerful blast ripped through Pune's German Bakery, ... German Bakery blast accused gets lawyersamaylive - 1 hour ago A Pune lawyer on Saturday came ahead to represent the main accused in the German Bakery Blast Himayat Mirza Baig. Sushil Mancharkar has defied the appeal by the Pune Bar Association (PBA) which asked its members not to represent Baig terming his crime ... MCOCA on cards in Pune blast caseTimes of India - - 20 hours ago MUMBAI: The anti-terrorism squad (ATS) is all set to invoke the stringent Maharashtra Control of Organised Crime Act (MCOCA) against Mirza Himayat Baig and Bilal Farid Shaikh, both of whom have been arrested for their alleged role in the blast at ... 'Pune suspect planned attacks in Nashik too'Times of India - - Sep 13, 2010 MUMBAI: Pune German Bakery bomb blast's alleged mastermind, Mirza Inayat Baig, planned to carry out attacks in Mumbai too, sources said. He was arrested on September 7. "Baig had surveyed some targets. They chose Pune to avenge the arrest of an Indian ... ATS questions over 40 people in UdgirTimes of India - Sep 17, 2010 AURANGABAD: The anti-terrorism squad (ATS) continued to camp in Udgir town in Latur district and question people who had come in contact with Himayat Baig, the alleged mastermind behind the German Bakery blast in Pune. So far, over 40 people have been ... Pune blast suspects carried RDX in polybagTimes of India - - Sep 14, 2010 MUMBAI: Pune German Bakery bomb blast's alleged mastermind, Mirza Himayat Baig and wanted accused Ahmed Zarar alias Yaseen Bhatkal, had carried a 3 kg RDX bomb from Udgir to Pune, a distance of 380km, in state transport buses. ... Terrorists forming smaller modulesTimes of India - - Sep 11, 2010 MUMBAI: The interrogation of suspected German Bakery blast mastermind Mirza Himayat Baig (29) has revealed that the terrorists are preferring to form small modules. The terror suspects realised there could be a larger number of arrests if the modules ... 'Deolali Army camp, Maharashtra police academy were on hit list'The Hindu - Sep 13, 2010 PTI The Army camp at Deolali, the Maharashtra Police Academy and the Police Commissionerate in Nashik were on the hit-list of the arrested LeT suspect, Shaikh Lalbaba Mohammed Hussain, Maharashtra ATS said on Monday. Shaikh alias Bilal, arrested for ... A bright son, now a terroristHindustan Times - Sep 15, 2010 When he was growing up in a dusty Beed bylane in Marathwada, Mirza Himayat Baig was his lower middle class family's sole ray of hope. He wanted to pursue a bachelor's in arts, while his brothers, Tareq and Sohajab, did odd jobs to bring some money home ... | Timeline of articlesNumber of sources covering this story
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MSF withdraws mental health services from KashmirIBNLive.com - 1 hour ago PTI | 09:09 PM,Sep 18,2010 Srinagar, Sept 18 (PTI) M decins Sans Fronti res(MSF), the international humanitarian organisation, today said it has stopped its mental health sevices in Kashmir due to increasing violence and a round-the-clock curfew. ... Kashmir toll 98 in 100 days of unrestSify - 2 hours ago Srinagar: The Kashmir Valley witnessed another bloody day on Saturday as three people were killed in firing by security forces on protesting mobs, taking the toll in 100 days of unrest to 98 as authorities relaxed the indefinite curfew in parts of ... Kashmir: Three killed, 12 injured in fresh clashesNDTV.com - 2 hours ago Srinagar: The Kashmir unrest continues. Three people were killed in violence that erupted on Saturday. During the day, one person was killed and 12 others were injured in firing in south Kashmir town of Anantnag. The violence erupted during the funeral ... Fresh violence in Kashmir, 2 killed, 19 injuredOneindia - 4 hours ago Srinagar, Sep 18: Even as parts of Srinagar saw a four hour relaxation of the curfew, fresh violence erupted in the valley on Saturday, Sep 18, leading to two deaths, rising the death toll in the spiraling three month long unrest to 97. ... 2 killed, 19 hurt in fresh violence in KashmirIBNLive.com - 5 hours ago PTI | 05:09 PM,Sep 18,2010 Curfew will be relaxed in other parts of the city after assessing the law and order situation in those areas, the spokesman said. In Batamaloo area of the city curfew was reimposed after a group of youth started pelting ... Fresh clashes in indian KashmirBBC News - 5 hours ago Police and protesters have clashed violently in Indian-administered Kashmir as residents continued to defy a valley-wide curfew. In Anantnag, government forces opened fire on a funeral gathering, killing one civilian and wounding several. ... Fresh unrest rocks Indian Kashmir as death toll hits 102AFP - - 7 hours ago SRINAGAR, India — Police fired on fresh anti-India demonstrations in Kashmir on Saturday, killing three protesters and bringing the number of civilian deaths in an unprecedented wave of unrest to 102. The new deaths came as thousands of Kashmiris ... Curfew relaxed in parts of SrinagarSify - 8 hours ago Srinagar, Sep 18 (IANS) Six days after imposing indefinite curfew, authorities Saturday relaxed the restrictions in uptown areas of Srinagar from 12 noon to 4 pm and in other places across the Kashmir Valley to allow residents to buy essentials. ... | Timeline of articlesNumber of sources covering this story
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Sensex, Nifty hit 32-month highHindu Business Line - 5 hours ago MUMBAI: Riding high on hectic buying by foreign funds across the sectors, the benchmark indices, Sensex and Nifty, posted this year's best weekly gains as of September 17. The gains were recorded despite RBI's hiking its lending (repo) and borrowing ... Sensex surges 795 points in weekly trade on strong economic outlookEconomic Times - 8 hours ago MUMBAI: A benchmark index for Indian equities surged almost 800 points in this week's trading, the sharpest rally in over a year, as foreign institutions invested heavily on the back of strong macro-economic outlook. The 30-scrip sensitive index ... FII rally may propel Sensex towards 20KEconomic Times - 21 hours ago MUMBAI: Indian stocks rose to a fresh 32-week high on Friday, fuelling expectations of the benchmark Sensex topping the 20000 mark as early as next week on the back of abundant foreign fund inflows. The Sensex had last touched the 20000 mark over 32 ... Weekly wrap-up: Sensex, Nifty zoom over 4%Myiris.com - 6 hours ago Indian bourses bounced back again on persistent buying seen in consumer durables, healthcare, oil & gas and metal stocks. Strong global cues and relentless buying by foreign funds enhanced sentiments of the market. The benchmark indices witnessed ... Markets log third weekly gainsBusiness Standard - 11 hours ago The markets rallied smartly for the third straight week on the back of strong gains by large-cap stocks, while mid- and small-caps underperformed. The banking stocks which were in focus due the RBI policy turned out to be the major gainers this week. ... Sensex ends day with 800 pts gain for weekTimes of India - 20 hours ago MUMBAI: After a day's break, the BSE sensex was back on its winning ways on Friday, closing the week with a gain of nearly 800 points, or 4.2%, at 19595. On points basis this was the biggest weekly gain for the index in over a year while on percentage ... Telecom stocks shine on BSE; RCom, Airtel top gainersBusiness Standard - Sep 17, 2010 PTI / Mumbai September 17, 2010, 18:25 IST Led by Reliance Communications (R-Com) and Bharti Airtel, telecom stocks today rallied on the BSE, helping the broader market close with gains. By the end of the trade, the telecom pack had performed ... Sensex hovers near 19600 mark; RCom, ACC leadMyiris.com - Sep 17, 2010 The Sensex continues to trade on a firm note as buying is being witnessed in consumer durable, healthcare, oil & gas and metal stocks. At 2.32 pm, the Sensex was trading up 158.54 points or 0.82% at 19576.03 with 26 components gaining. ... Sensex trades firm; Delta Corp most activeMyiris.com - Sep 16, 2010 Indian markets bounced back on Friday snapping earlier losses. The Sensex continues to trade on a firm note tracking positive Asian peers. realty, metal, auto and teck stocks gained ground. At 11.01 am, the Sensex was trading up 166.58 points or 0.86% ... Heavyweights lift Sensex higher; mid & small-caps outperformMyiris.com - Sep 17, 2010 The Sensex rallied further on strong global cues and intense buying by foreign funds. On the other hand, Nifty touched 5900 mark earlier and is trading below it. Consumer durable, metal, teck and oil & gas stocks further gained ground. ... | Timeline of articlesNumber of sources covering this story
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Geelani not to meet all-party teamThe Hindu - - 25 minutes ago PTI Syed Ali Shah Geelani. Terming the visit of the all-party delegation to Jammu and Kashmir on Monday an "eyewash," the hard-line Hurriyat Conference leader Syed Ali Geelani said his party would not meet it. The delegation, headed by Union Home ... Hurriyat shelves plans to protest outside Army campsHindustan Times - 19 minutes ago PTI The hardline Hurriyat Conference, led by Syed Ali Shah Geelani, today dropped its plans to hold protest outside army camps in Kashmir valley. "We have made changes in the schedule for protest on September 21," Geelani said in a statement released ... Geelani rules out talks with AP delegationRising Kashmir - - 16 minutes ago Srinagar, Sep 18: With mainstream parties already on board, the all-party delegation may find it difficult to engage the separatist forces as Syed Ali Geelani, who is spearheading the ongoing movement, has categorically ruled out his meeting the ...
Army threat forces Geelani to take back protest callTimes of India - 18 hours ago SRINAGAR: Unnerved by the government's move to involve the Army to counter his protest programmes, hardline separatist leader Syed Ali Shah Geelani on Friday withdrew his call for sit-ins outside security installations across the Valley on September 21 ... Strict curfew in Kashmir, protests go onHindustan Times - Sep 14, 2010 Despite the entire Valley having been put under curfew — following Monday's fierce street battles which cost 17 lives — sporadic violence continued in the region on Tuesday. One more person died on Tuesday, while eight people were injured. ... Don't drag in the Army, Geelani toldTimes of India - - Sep 16, 2010 SRINAGAR: The Army on Thursday said that hardline Kashmiri separatist Syed Ali Shah Geelani's 11-day protest calendar was misleading and an attempt to needlessly drag the forces into the current crisis whereas its primary role is to defend the country ... Nothing positive will come out of all-party meet: GeelaniThe Hindu - Sep 15, 2010 PTI Chairman of the hardline faction of Hurriyat Conference Syed Ali Shah Geelani waves to supporters after he was arrested from his Hyderpora residence in Srinagar recently. Photo: PTI Hardline Hurriyat Conference leader Syed Ali Shah Geelani today ... National Conference panel discusses strategyThe Hindu - - Sep 15, 2010 Barring minor clashes which left three people injured, Jammu and Kashmir saw little violence on Tuesday — a day after murderous violence sparked by reports of the desecration of the Holy Koran in New York led to the death of 18 people in clashes ... Kashmir's separatist leaders reject outcome of all-party meetingEconomic Times - Sep 16, 2010 SRINAGAR: Separatist leaders in Jammu and Kashmir have rejected the outcome of Wednesday's over five-hour-long All-Party meeting, unanimously terming the endeavor a futile and time buying exercise aimed to deny Kashmiris their inalienable right to ... Hurriyat reviewing Sep 21 planRising Kashmir - 10 hours ago Srinagar, Sep 17: Syed Ali Geelani's Hurriyat faction is reviewing its call in which people were asked to demonstrate near army installations, spokesman of Hurriyat (G), Ayaz Akbar said Friday. Earlier the spokesman announced withdrawal of the plan ... | Timeline of articlesNumber of sources covering this story
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US dismiss remarks attributed to Holbrooke by Pak dailyHindustan Times - 1 hour ago PTI The US on Saturday dismissed remarks attributed to its Special Af-Pak Envoy Richard Holbrooke that the Obama administration would not accept any slackness by the Pakistan Army in the fight against Taliban due to the military's engagement in flood ... Pakistan needs civilian rule - USBBC News - Sep 15, 2010 The US has dismissed suggestions that the Pakistani military could form a viable alternative to the civilian government, widely criticised for its handling of the country's flood crisis. Special envoy Richard Holbrooke praised civilian politicians and ... US showcases relief efforts in flood-hit PakistanReuters - - Sep 15, 2010 Allah Wasayo, a flood victim, reacts after he received food handouts donated by a charity organization while taking refuge with his family in a relief camp for flood victims in Sukkur, in Pakistan's Sindh province September 15, 2010. ...
Pakistan must raise billions after flood: HolbrookeReuters - - Sep 16, 2010 KARACHI (Reuters) - Pakistan's allies will only do so much to rebuild the country after devastating floods so the government must raise tens of billions of dollars for reconstruction itself, a top US official said on Thursday. ... US won't accept slackness by Pak Army in war on terror: HolbrookeDaily Times - - 18 hours ago ISLAMABAD: Praising the resilience of the people of Pakistan during the recent floods and commending the role of the Pakistan Army in rescue and relief operations, US Envoy for Pakistan Richard Holbrooke said that that the civilian ... US Envoy Vows to Help Pakistan Rebuild After FloodingNew York Times - - Sep 16, 2010 LAHORE, Pakistan — A top United States envoy to Pakistan reiterated American vows on Thursday to help the country rebuild after the summer's devastating floods, even as he acknowledged that the international community could only ... US, Australia pledge more help for Pakistan flood victimsThe Hindu - Sep 16, 2010 Pakistanis ride a small boat towards their village that is surrounded by floodwaters at Sehwan Sharif, Sindh province, on Thursday. Photo: AP. US special envoy Richard Holbrooke and Australian Foreign Minister Kevin Rudd on Thursday announced more ... US aid to Pakistan may delay non-military projects: envoyAFP - Sep 15, 2010 KARACHI — US special envoy Richard Holbrooke said Wednesday the use of a non-military aid package to fund flood relief instead in Pakistan may delay important water and energy projects in the country. Holbrooke, the special US envoy for Pakistan and ... Japan increases relief work for flood victimsDaily Times - Sep 15, 2010 ISLAMABAD: The government of Japan has decided to continue extending its medical assistance to the people affected by the recent heavy floods in Pakistan by sending its new medical team to replace the existing one. The medical team had so far provided ... US envoy backs civilian rule in PakistanAFP - Sep 16, 2010 KARACHI — The United States has moved to bolster civilian rule in Pakistan, saying Washington does not see the military as an alternative despite mounting domestic criticism against the government. "We support a civilian, democratically elected ... | Timeline of articlesNumber of sources covering this story
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India gets positive vibes to its concerns ahead of Obama visitEconomic Times - 1 hour ago WASHINGTON: As India prepares for the visit of President Barack Obama in early November, its numerous concerns ranging from H1-B visa fee hike to hi-tech export controls to cross border terrorism appears to have had some positive response. ... India raises issues of H-1B visas and outsourcing with US govtNDTV.com - 10 hours ago New York: Foreign Secretary Nirupama Rao has raised India's concerns over the controversial position taken by the US over outsourcing and recent hike in H-1B visa fee with the Obama administration. Nirupama Rao is in Washington meeting with senior ... Rao meets Clinton, Jones; conveys India's concerns on H-1B issueTimes of India - 11 hours ago WASHINGTON: India has conveyed its concerns to the US over the H-1B visa fee hike and exchanged views on issues like U NSC expansion and nuclear liability bill during foreign secretary Nirupama Rao's talks with top American officials focussing on ... India raises visa & outsourcing issuesOneindia - 8 hours ago Washington, Sep 18: Concerned over outsourcing and hike in H-1B visa fees, the Foreign Secretary Nirupama Rao has raised the issues to the US administration on Saturday, Sep 18. She is in Washington to prepare ground for US President Barack Obama's ... Anti-outsourcing rhetoric to cool off after US elections?NDTV.com - - 22 hours ago Indian IT industry is hoping that US President Obama's anti-offshoring rhetoric will die down once the mid-term elections in the US culminate and does not find resonance in policy measures. As the mid-term elections draw near, the kind of candidates ... Amritsar, Mumbai looks like on Obama's India scheduleTimes of India - - 21 hours ago WASHINGTON: President Obama's upcoming November visit to India might lack a silken touch given the wrinkles currently bedeviling US-India relations, but it could well have the Golden touch. The Sikh Diaspora in America and the community in India have ... Rao, Burns hold talks ahead of Obama visitTimes of India - - 19 hours ago WASHINGTON: India's foreign secretary Nirupama Rao is leading a stream of visitors from New Delhi here over the next few days for preparatory meetings aimed at laying the ground for President Obama's visit to India in November. ... Nirupama Rao in US to prepare ground for Obama visitEconomic Times - Sep 16, 2010 WASHINGTON: Foreign Secretary Nirupama Rao began a hectic round of diplomacy to iron out differences over issues like outsourcing and hiked visa fees and prepare the ground for US President Barack Obama's history making visit to India in November. ... India-US discussions in full swing prior to Obama visitThe Hindu - - 11 hours ago AP President Barack Obama: The United States State Department announced today that preparations continue for the President's upcoming visit to India in November. Photo: AP In an unmistakable indication of backroom discussions shifting up a gear before ... Obama government hires three more Indian-AmericansThe Hindu - - 19 hours ago After a slight lull over the summer, President Barack Obama's drive to recruit persons of Indian origin into his government is back to full throttle. This week the White House announced a string of appointments to the President's Advisory Commission on ... | Timeline of articlesNumber of sources covering this story
Videos Nirupama meets Hillary, sets agenda for Obama's Indian visit Asian News International (ANI) - 9 hours ago Watch video |
Pope Visit UK 2010: LiveTelegraph.co.uk - - 3 minutes ago Pope Benedict XVI is in Britain from September 16-19, making the first Papal visit to the UK for 28 years. Follow the latest news, commentary and reaction to his trip here. By Alastair Jamieson, Harriet Alexander and Patrick Sawer 18.11 Will Heaven ... Pope Apologizes for Sex Abuse Victims of ChurchVoice of America - 57 minutes ago Photo: AP Pope Benedict apologized to victims of sexual abuse on Saturday, saying pedophile priests had brought "shame and humiliation" on him and the entire Roman Catholic Church. Pope Benedict began his third day in London holding separate meetings ... Abuse victim on Pope's apologyBBC News - 38 minutes ago Margaret McGuckin was abused as a child in the Sisters of Nazareth orphanage in Belfast. A victim of institutional abuse within the Catholic church said an apology by the Pope for the "unspeakable crimes" committed by Catholic priests who sexually ...
Protest the Pope rally sees 10000 march through London's streetsThe Guardian - - 1 hour ago Day three of Pope Benedict XVI's visit to Britain and it was a day for protests and anti-papists under bright blue skies in central London. Around 10000 people took to the capital's streets for a Protest the Pope rally and march against what the ... Thousands at London anti-Pope protestSydney Morning Herald - - 50 minutes ago Thousands of protesters opposed to Pope Benedict XVI and his state visit to Britain have marched through London, slamming the church over sex abuse, gay rights and a range of other issues. A coalition of demonstrators united under the "Protest The ... Terror plot foiled during Pope's London visitABC Online - 1 hour ago ELIZABETH JACKSON: Scotland Yard has this morning announced that it's foiled a terrorist plot to assassinate Pope Benedict XVI who is currently in London. Six men, all of whom were street cleaners, have been taken to a London Police station. ... Thousands protest at Pope's visitThe Press Association - 1 hour ago Thousands of protesters have gathered on the streets of London to demonstrate against Pope Benedict XVI's state visit. Organisers estimated up to 10000 were due to join the march to Downing Street in opposition to the papal tour. ... Pope Expresses 'Sorrow' to Abuse Victims in UKWall Street Journal - - 35 minutes ago LONDON—Pope Benedict XVI expressed "deep sorrow" to victims of clerical sex-abuse during a Mass and a meeting with several victims here Saturday, as protesters criticized his handling of the crisis and other Church policies. ... Pope Meets Victims Of Church Child AbuseSky News - - 1 hour ago The Pope has expressed his "deep sorrow and shame" in a meeting with five victims of sex abuse by members of the Catholic Church, the Vatican said. To view this content you need Flash and Javascript enabled in your browser. Please download Flash from ... Anti-Pope Protesters Take To London StreetsSky News - - 58 minutes ago Thousands of people have joined a protest in central London against Pope Benedict XVI's visit to Britain. To view this content you need Flash and Javascript enabled in your browser. Please download Flash from the Adobe download website. ... | Timeline of articlesNumber of sources covering this story
Videos Pope's apologizes for child abuse by clergy during homily in Westminster Cathedral Rome Reports TV News Agency - 4 hours ago Watch video |
Pak flays India over JK violenceIndian Express - 1 hour ago Pakistan again criticised the handling of protests in Jammu and Kashmir, saying India should introspect on its policies instead of blaming Islamabad for the violence in the Valley. Reacting to India's rejection of concerns expressed by Foreign Minister ... Kashmir has been and will be a part of India: Farooq AbdullahEconomic Times - 10 hours ago PUNE: National Conference President and Union Minister for New and Renewable Energy, Farooq Abdullah, has said that Kashmir has been and will always remain a part of India. Addressing the 22nd Pune Festival, Abdullah said: ""Many innocent children died ... India rejects Pakistan's "gratuitous remark"The Hindu - 21 hours ago NEW DELHI: India on Friday rejected Pakistan "gratuitous remark" on Jammu and Kashmir, saying it was an interference in its internal affairs. It asked Islamabad to fulfil its commitment against terror. "Pakistan should take credible and effective ...
Pak rakes up rights, India says keep offTimes of India - 19 hours ago NEW DELHI: The continuing trouble in J&K on Friday sparked a fresh flare up between India and Pakistan, with New Delhi asking Islamabad to stop interfering in India's internal affairs and put an end to infiltration from across the LoC. ... Goodspeed Analysis: Youth in revoltNational Post - - 2 hours ago While soldiers respond to protests with tear gas and rifle fire, Kashmiri young people record the clashes, posting images of the dead, funerals and sobbing mothers online. By Peter Goodspeed, National Post It is being called a "cyber-intifada" — a ... Jammu and Kashmir: Faultlines over the decadesTimes of India - Sep 15, 2010 Apr 21, 1948 | India takes the issue to the UN Security Council, which passed Resolution 47 imposing an immediate ceasefire and says New Delhi should retain a minimum military presence and that the final solution will be made through a plebiscite ... Stop pampering Kashmir's stone throwers and separatistsSify - 8 hours ago The urge for peace is built into India's psyche and its civilization. An Indian can be heard at any time to be reciting Om Shanti Shanti, as though peace would descend on this troubled planet by the recitation of shlokas. Nevertheless this is what ... The Jammu and Kashmir situation: The Azadi Debate (Part I)Oneindia - Sep 17, 2010 New Delhi, Sept.17 (ANI): In the debate on Kashmir, in the slogans being shouted by protestors in the Kashmir Valley, the most common refrain is that of Azadi. Despite this, there is little clarity about what does Azadi actually mean. ... India hits back at Pak over Kashmir statementsIndian Express - 18 hours ago Hitting back at Pakistan for making 'gratuitous statements' on Jammu and Kashmir that amount to 'interference in the internal affairs of India', the government on Friday said Islamabad should dismantle terror infrastructure on its territory and take ... | Timeline of articlesNumber of sources covering this story
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Security forces stage flag march in Ayodhya
Daily News & Analysis - 11 minutes ago
Place: Ayodhya | Agency: PTI A week ahead of verdict on Ram Janambhoomi-Babri Masjid dispute, security today staged flag march in the twin towns of Ayodhya, ...
Security stepped up in UP
The Hindu - 16 minutes ago
Security has been further intensified in sensitive places in Uttar Pradesh, including Ayodhya and Faizabad, in view of the verdict on the Babri Masjid title ...
Flag marches in Ayodhya, Ujjain ahead of Babri verdict
NDTV.com - 44 minutes ago
Ujjain/Bhopal: Ahead of the Babri verdict on September 24, efforts are on to hold on to peace in communally sensitive Ujjain and in Ayodhya. ...
Broadcasters' body issues guidelines on Ayodhya coverage
The Hindu - 5 hours ago
PTI As the Ayodhya title suit verdict date nears, the News Broadcasters Association has set guidelines for the electronic media asking them not to speculate ...
Rules set for media coverage of Ayodhya title suit
Washington Bangla Radio - 4 hours ago
By WBRi IBNS Newswire on 18 September 2010 New Delhi, Sept 18 (IBNS): After facing charges of provocative and irresponsible coverage of several major ...
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Ayodhya case will got to SC: Advani, Omar, IUML appeal for
IBNLive.com - 1 hour ago
PTI | 09:09 PM,Sep 18,2010 calm New Delhi, September 18 (PTI) With less than a week left for the judgement on the Ayodhya title suit dispute, ...
Ayodhya case will go to SC: Advani
Hindustan Times - 2 hours ago
PTI Senior BJP leader LK Advani believes that Ayodhya case will go to the Supreme Court irrespective of in whose favour the verdict is. ...
Respect Ayodhya title suit verdict: IUML
Hindustan Times - 2 hours ago
PTI Indian Union Muslim League on Saturday appealed to the people to respect the Ayodhya title suit verdict and said they can move the Supreme Court if ...
"No matter in whose favour the verdict goes, it(case) will go to the Supreme Court," said Advani in Ahmedabad. more by LK Advani - 1 hour ago - IBNLive.com (3 occurrences) |
Parties appeal for calm ahead of Ayodhya verdict
IBNLive.com - 15 hours ago
Lucknow: A week from now the verdict will be out in one of the country's most contentious cases, the Ayodha land title dispute. As security tightens across ...
Ayodhya petitioner to move Supreme Court
Hindustan Times - Sep 17, 2010
"The high court order has not disheartened me at all and I am definitely going to file an appeal before the Supreme Court," the 73-year-old Tripathi told ...
Respect court verdict on Ayodhya, say clerics
Times of India - Sep 17, 2010
LUCKNOW: Clerics and Islamic institutions on Thursday appealed to the masses to respect the court verdict with regards to the Ayodhya title suit slated to ...
AIUDF President Ajmal Qasmi appeals for peace post Ayodhya verdict
ummid.com - 11 hours ago
New Delhi: As the day for announcement of the verdict of the Lucknow bench of the Allahabad High Court on the Ayodhya title suit comes nearer the whole ...
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Rajnath Singh slams Congress ahead of Ayodhya verdictSify - 1 hour ago Senior Bharatiya Janata Party leader Rajnath Singh, here on Saturday described Congress party as "the biggest communal party in the country" and that it ... Court's verdict binding on all : NaiduHindustan Times - 2 hours ago Senior Bharatiya Janata Party (BJP) leader M. Venkaiah Naidu said Saturday that everybody has to accept the court verdict on Ayodhya, expected from the ... Security beefed up in Ayodhya ahead of mosque demolition verdictSify - 5 hours ago With less than a week to go for the verdict on the Babri mosque demolition case, security has been beefed up in Uttar Pradesh's Ayodhya city. ... Court refuses to defer Ayodhya verdictNDTV.com - 10 hours ago A plea to defer verdict on the Ram Janambhoomi-Babri Masjid title suit has been rejected by the Allahabad High Court. This means that the verdict in the ... Settle Ayodhya dispute out of court, says CongressTimes of India - 17 hours ago NEW DELHI: In an attempt to prevent the Allahabad High Court verdict on the status of the site of the demolished structure in Ayodhya snowballing into a ... Ayodhya verdict: RSS, VHP eager but BJP wary of falloutTimes of India - 17 hours ago NEW DELHI: Though RSS along with VHP on Friday welcomed the decision of the Lucknow bench of the Allahabad High Court to go ahead with pronouncing the ... HC rejects plea to defer Sept 24 Babri rulingIndian Express - 17 hours ago The Allahabad High Court today rejected an application which wanted the court to defer its judgment on the Ayodhya title suits and let all parties resolve ... Ayodhya verdict can't be put off: HCEconomic Times - 18 hours ago LUCKNOW: A week before it is to rule on the Ramjanmabhoomi-Babri Masjid row, the Lucknow bench of the Allahabad high court on Friday turned down a plea for ... RSS, VHP welcome HC's refusal to defer Ayodhya title suits verdictIndian Express - 18 hours ago Though they have consistently maintained that courts cannot resolve the Ayodhya issue as it was a matter of faith, both the RSS and the VHP Friday endorsed ... Memory, historyIndian Express - 19 hours ago Eighteen years is a long time for a wound to scab over — even Ayodhya, which once threatened to tear India apart, is now mere memory. ... | Timeline of articlesNumber of sources covering this story
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Rosaiah appeals for peace after HC verdict on Babri issue
IBNLive.com - 26 minutes ago
PTI | 10:09 PM,Sep 18,2010 Hyderabad, Sep 18 (PTI) Andhra Pradesh Chief Minister K Rosaiah today appealed political parties and religious heads to ensure ...
Rosaiah appeals for calm after Ayodhya verdict
Sify - 5 hours ago
Hyderabad, Sep 18 (IANS) Andhra Pradesh Chief Minister K. Rosaiah Saturday sought public cooperation in maintaining peace and communal harmony after an ...
Hyderabad hypersensitive: IB
Deccan Chronicle - 21 hours ago
Hyderabad, Sept. 17: The Intelligence Bureau has warned of possible outbreak of violence in the city on September 24 after the verdict in the Ayodhya case. ...
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News for ayodhya verdict
The Hindu | A Special Bench of the Allahabad High Court will deliver its judgment on September 24 into the row over ownership of the disputed land in Ayodhya town. ... Sify - 438 related articles »Respect Ayodhya title suit verdict: IUML - Hindustan Times - 26 related articles » |
Allahabad HC refuses to defer Ayodhya verdict - The Times of India
17 Sep 2010 ... Rejecting the petition filed by Ramesh Tripathi, who had cited a law and order fallout, the Allahabad HC has refused to defer the verdict in ...
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Ayodhya verdict on September 24
17 Sep 2010 ... Ayodhya verdict on September 24 - A plea to defer verdict on the Ram Janambhoomi-Babri Masjid title suit has been rejected by the Allahabad ...
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Ayodhya verdict: NBA issues guidelines to broadcasters - Yahoo ...
18 Sep 2010 ... As the Ayodhya title suit verdict date nears, the News Broadcasters Association has set guidelines for electronic media asking them not to ...
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BJP's response to Ayodhya verdict will shape its future: Rediff ...
16 Sep 2010 ... As the country's largest opposition political party with strong roots among the majority community, the BJP has a special stake in ensuring ...
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HC to take up petition to defer Ayodhya verdict
Amid calls of calm from all sections of the society, the Lucknow Bench of the Allahabad High Court will on Friday take up the petition for postponing the ...
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Ayodhya verdict on Sept 24, HC rejects postponement plea - The ...
17 Sep 2010 ... Ayodhya verdict on Sept 24, HC rejects postponement plea ... Topics »verdict|prime minister|babri|ayodhya|allahabad high court ...
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Parties appeal for calm ahead of Ayodhya verdict - Politics News ...
18 Sep 2010 ... A three-judge bench comprising of Justice SU Khan, Justice Sudhir Agarwal, Justice DV Sharma will deliver the verdict at 3:30 PM on ...
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Decks cleared for Ayodhya verdict - Home - livemint.com
18 Sep 2010 ... Decks cleared for Ayodhya verdict, Concerned about the possibility of communal tension after the judgement, the cabinet has passed a ...
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The Hindu : News / National : Ayodhya verdict: Muslim, Hindu ...
17 Sep 2010 ... Ayodhya judgement: M.P. beefs up security High Court rejects plea to defer verdict in Babri Masjid title suit ...
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Government appeals for peace after Ayodhya verdict - India - DNA
16 Sep 2010 ... The issue was discussed at the Union cabinet meeting, chaired by Prime Minister Manmohan Singh, and it passed a resolution, appealing for ...
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Ayodhya verdict: Muslim, Hindu leaders appeal for peace
With the date of pronouncement of the Allahabad High Court judgement on Ayodhya dispute drawing near, religious leaders and scholars of both ...
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'Ayodhya verdict a chance to bring Muslims into mainstream ...
15 Sep 2010 ... Ahead of the court verdict on Ayodhya dispute, a French writer on India says it would be a moment of reckoning and an opportunity for Indian ...
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The Hindu : Front Page : VHP plans 'dharma sansad' on Ayodhya ...
17 Sep 2010 ... Front Page · Printer Friendly Page · Send this Article to a Friend VHP plans 'dharma sansad' on Ayodhya verdict day. Neena Vyas ...
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Ayodhya verdict on Sept 24
The fate of the 60-year-old civil case for the title of the disputed shrine in Ayodhya, Uttar Pradesh, would be decided on September 24, when a three-member ...
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Babri Masjid Case | Ayodhya Verdict | Ran Janmabhumi | Allahabad ...
17 Sep 2010 ... The Lucknow bench of Allahabad High Court has refused to defer the Sep 24 verdict in the Ayodhya title dispute case on Friday, Sep 17.
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Court rejects petition for Ayodhya verdict deferment
17 Sep 2010 ... Lucknow: The Lucknow bench of the Allahabad High Court on Friday rejected an application for deferment of the verdict on the Ayodhya verdict ...
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UP govt. cancels leave of administrative officials' ahead of ...
20 Aug 2010 ... UP govt. cancels leave of administrative officials' ahead of Ayodhya verdict. New Delhi: The Uttar Pradesh government has cancelled leaves ...
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Fingers crossed, parties wait for Ayodhya verdict - Express India
12 Sep 2010 ... Ayodhya With barely two weeks left for the verdict on the sensitive Ayodhya title suit, political parties are keeping their fingers crossed ...
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Wary govt appeals for peace, post-Ayodhya verdict delivery
16 Sep 2010 ... Latest news, breaking news - Wary govt appeals for peace, post-Ayodhya verdict delivery.
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news.outlookindia.com | Govt Appeals for Peace After Ayodhya ...
16 Sep 2010 ... Deoband Appeals to People to Respect Ayodhya Verdict Sep 16, 2010. Ayodhya Verdict: Prohibitory Orders Imposed in Meerut Sep 16, 2010 ...
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Ayodhya verdict: Muslim, Hindu leaders appeal for peace | The ...
With the date of pronouncement of the Allahabad High Court judgement on Ayodhya dispute drawing near, religious leaders and scholars of both the communities ...
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HC not to defer Ayodhya verdict | Deccan Chronicle | 2010-09-18
18 Sep 2010 ... 17: The Allahabad high court on Friday rejected a petition for the deferment of the Ayodhya title suits verdict, saying there was no merit ...
www.deccanchronicle.com/national/hc-not-defer-ayodhya-verdict-754
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What the Ayodhya Verdict has in Store | GroundReport
What the Ayodhya Verdict has in Store. by SYED ALI MUJTABA SYED September 11, 2010. The fate of the 60-year-old civil case for the title of the disputed ...
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Oheraldo Goa's complete online news edition :: Hindus-pray-for ...
You are here:Home >> Local News >> Hindus pray for favourable Ayodhya verdict. Hindus pray for favourable Ayodhya verdict. HERALD CORRESPONDENT ...
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LeT planning strike ahead of Ayodhya verdict | Siasat
17 Sep 2010 ... New Delhi, September 17: Ahead of the Ayodhya verdict on September 24, the Pakistan-based militant outfit Lashkar-e-Taiba (LeT) has been ...
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Ranbir bemoans 'Anjaana Anjaani' releasing on Ayodhya verdict day
16 Sep 2010 ... New Delhi, Sep 16 - Bollywood actor Ranbir Kapoor says it is 'unfortunate' that his upcoming movie 'Anjaana Anjaani' is ...
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BJP mobilisation drive ahead of Ayodhya verdict | Ayodhya | Babri ...
14 Sep 2010 ... The new action programme is being seen as a warm-up exercise, ahead of the crucial Ayodhya verdict. With BSP supremo and Uttar Pradesh Chief ...
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Rosaiah appeals for calm after Ayodhya verdict | Religion
18 Sep 2010 ... Hyderabad, Sep 18 - Andhra Pradesh Chief Minister K. Rosaiah Saturday sought public cooperation in maintaining peace and communal harmony ...
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Ayodhya title suit: Tremor in Congress as verdict nears - The ...
28 Aug 2010 ... Babri Masjid-Ram Janmabhoomi dispute is set to be in the forefront again as Lucknow bench of the Allahabad HC is likely to pronounce verdict ...
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Parties treading cautiously on Ayodhya verdict - National News ...
17 Sep 2010 ... Parties treading cautiously on Ayodhya verdict. New Delhi, Sept 17 (PTI) With concern being voiced over the possible fallout of the judicial ...
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We Will Move Supreme Court if Ayodhya Verdict Against Us: Owaisi
Hyderabad, Sep 9 (IANS) The Muslim community would maintain peace and move the Supreme Court if the verdict in the Ayodhya case, expected Sep 14, ...
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LeT planning strike ahead of Ayodhya verdict - Latest News ...
IB has revealed that India is facing external threats from groups including Pakistan based Lashkar-e-Taiba (LeT)
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Rosaiah appeals for calm after Ayodhya verdict
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Andhra Pradesh Chief Minister K. Rosaiah Saturday sought public cooperation in maintaining peace and communal harmony after an Uttar Pradesh ...www.thaindian.com/.../rosaiah-appeals-for-calm-after-ayodhya-verdict_100430621.html - United States
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Ayodhya verdict: NBA issues guidelines to broadcasters,India news ...
18 Sep 2010 ... Ayodhya verdict: NBA issues guidelines to broadcasters,Online news portal provides india news , online news, latest business news, ...
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HC refuses to defer Ayodhya verdict
Lucknow, Sept 17 (IBNS): The Lucknow bench of the Allahabad High Court on Friday rejected an application for deferment of the Ayodhya verdict and penalized ...
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No delay in Ayodhya verdict, says court, News - Nation - Bangalore ...
17 Sep 2010 ... Judgment on Sept 24 after the Allahabad High Court dismissed a petition to defer it ,Bangalore News & analysis on current events,business, ...
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Ayodhya: To wait for the court verdict is an over simplification
The Indian courts are fully aware of this long pending Ayodhya dispute. Even during British regime the District Judge of Faizabad court in his verdict dated ...
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Ayodhya verdict: Govt appeal to maintain peace | Asian Tribune
17 Sep 2010 ... Ayodhya verdict: Govt appeal to maintain peace. Fri, 2010-09-17 03:04 — editor. India. From R. Vasudevan - Reporting from New Delhi ...
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Ayodhya verdict: UP govt seeks 63000 Central security personnel ...
8 Sep 2010 ... UP government seeks 63000 additional paramilitary personnel to deal with any law and order problems in view of the Babri judgement on Sept ...
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Allahabad High Court not to defer Ayodhya verdict
17 Sep 2010 ... The verdict on the 60- year-old Ayodhya title suits to determine who the Ram ... "The Ayodhya verdict should be respected by all. ...
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Muslims appeal for peace -- post Ayodhya verdict
17 Sep 2010 ... Muslim intellectuals and religious scholars appeal for peace -- post Ayodhya verdict.
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ayodhya verdict Students |
Lucknow, Sept 17 (IBNS) The Lucknow bench of the Allahabad High Court on Friday rejected an application for deferment of the verdict on the Ayodhya verdict ...
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'Security beef-up before Ayodhya verdict creating terror'
16 Sep 2010 ... Samajwadi Party (SP) leader Ram Gopal Yadav here Thursday accused the Uttar Pradesh government of creating terror and panic among people by.
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Rajnath Singh slams Congress ahead of Ayodhya verdict
Senior Bharatiya Janata Party leader Rajnath Singh, here on Saturday described Congress party as the biggest communal party in the country and that it sho ...
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Will the Ayodhya verdict be put off? - NDTV News
Will the Ayodhya verdict be put off? - Who does the Ram Janambhoomi-Babri Masjid land belong to? And was the Masjid built over a temple?
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Plea to defer Ayodhya verdict dismissed
17 Sep 2010 ... Plea to defer Ayodhya verdict dismissed...The court also imposed costs of Rs.200000 on peti...
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Plea to defer Ayodhya verdict dismissed – Sulekha News
17 Sep 2010 ... Plea to defer Ayodhya verdict dismissed News - Lucknow, Sep 17 (IANS) The Lucknow bench of the Allahabad High Court Friday dismissed a ...
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SahilOnline English News :: 'Ayodhya verdict may bring Muslims in ...
16 Sep 2010 ... SahilOnline - Reflection of the TRUTH; English news from Karnataka, sahil online news, 'Ayodhya verdict may bring Muslims in mainstream'
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Ayodhya verdict will not be postponed - India news, Manmohan Singh ...
17 Sep 2010 ... Ayodhya verdict will not be postponed - India news, Manmohan Singh, LK Advani, Sonia Gandhi, Bharat news, India online news, Congress party, ...
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Massive security in UP ahead of Ayodhya verdict - VideosFromIndia ...
15 Sep 2010 ... Allahabad/Lucknow, September 15 (ANI): Police in Uttar Pradesh have tightened security in various districts ahead of the Allahabad High ...
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