tag:blogger.com,1999:blog-69233763878941338002024-03-18T20:01:24.182-07:00Latest Top News UpdatesUnknownnoreply@blogger.comBlogger159125tag:blogger.com,1999:blog-6923376387894133800.post-8881502061137516842013-08-12T01:08:00.000-07:002013-08-12T01:08:00.235-07:00Ireland’s CRH set to buy Sree Jayajothi Cements for $250-$300 mn<P><STRONG>Mumbai:</STRONG> Ireland’s CRH, one of the world’s largest building materials providers, is set to buy a controlling stake in India’s Sree Jayajothi Cements Ltd for about $250-$300 million, two sources with direct knowledge of the matter told Reuters.</EM></P><br /><P>Sree Jayajothi Cements, a unit of the Shriram Group, has a 3.2 million-ton cement plant in Andhra Pradesh.</P><br /><P>The deal could be announced as early as on Monday, said the sources, who declined to be named.</P><br /><P>CRH will buy Sree Jayajothi Cements through its Indian unit, My Home Industries, the sources said.</P><IMG class="size-full wp-image-1025805" alt=Reuters src="http://www.nextgendatabase.vacau.com/cement.jpg" width=380 height=285> Reuters<br /><P></P><br /><P>Shriram Group, which has interests in the financial, power, infrastructure, construction and real estate sectors, did not have an immediate comment, while officials at My Home Industries were not available.</P><br /><P>Indian boutique investment bank Mape Advisory advised Shriram Group on the transaction, one of the sources said.</P><br /><P>Shriram Group was said to have had talks earlier with investors including Blackstone Group and KKR for selling its stake in the cement business.</P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-85133403956964433782013-08-12T00:49:00.000-07:002013-08-12T00:49:00.785-07:00Five things we learned from Manchester United's preseason 2013 <P>With three loses, two WINS from as many draws and Super Cup, Manchester United First Preseason under new grandfather David Moyes was a mixed bag at best. Many argue that the preseason tour is nothing more than a workout Club and commercial obligations. But United 2013 tour has been under scrutiny as fans around the world, including yours truly, wanted to see how the Club rates under the new regime. Here are five things we learned from the Manchester United prepare to defend the title this season.</P><P><STRONG>Style game</STRONG></P><P>Not much has changed in the Manchester United play under David Moyes. The boss has a similar formation of 4-4-2 or 4-4-1-1, which depend heavily on the wing as Zaha provide width and put in a good cross into the box for the strikers and Valencia. One small difference that we saw last night in the Super Bowl as Moyes opted to leave on the left flank open to Evra bomb forward and act as a winger. This is very similar to what he did at Everton, with Leighton Baines. It's too early to guess if will be his signature tune, though, or if it was simply a strategy for last night.</P><IMG class="size-full wp-image-1025841" alt="Manchester United celebrate after winning the Community Shield. Reuters" src="http://www.nextgendatabase.vacau.com/ManUnitedCommunityReuters.jpg" width="380" height="285">Manchester United celebrate after winning the Super Bowl. Reuters<P><P><STRONG>Weak midfield and the need for space</STRONG></P><P>It's not only me, but all are concerned that the prohibition of 20-year-old Guillermo Varela, we still see a new Member is added to the squad. This is without a doubt the same squad that cruised to become Premier League champions last season, but the preseason gave us ample proof that there is a real need to plug a few gaps. Denying Michael Carrick there isn't one currently, which can be described as world class. Tom Cleverley well, Anderson has his days, Ryan Giggs can only play so many games and Shinji Kagawa has slowly calms down. Now compare this, for example, of Bayern Munich, which boasts the likes of Bastian Schweinsteiger, Mario Goce, Luis Gustavo, Thiago Alcántara and suddenly United looks weak.</P><P>It is not surprising then, that names like CESC Fabregas, Thiago Alcántara, Luka Modric, Marouane Fellaini, Gareth Bale and Cristiano Ronaldo was heavily involved with the Club in recent weeks. Signing one of them will not only connect a huge gap but also to allay growing fears in the hearts of supporters that after retirment Sir Alex Ferguson, United suddenly doesn't have the same kind of attraction for players.</P><P><STRONG>Wayne Rooney Saga</STRONG></P><P>Stoking the fear is the saga of Wayne Rooney and this one problem, Moyes could have done without. Rooney's strained relationship with Ferguson was damaged beyond repair when the wily Scot announced at Old Trafford faithful forward asked to leave the Club again. Since then this day printing has a field day theorizing what might be going on behind the doors of the Club and Jose Mourinho open positions that he only wants Rooney did not help matters either. Moyes, meanwhile, has field questions on ahead with his first official press conference.</P><P>There is an urgent need to solve the problem as quickly and as cleverly as possible, before it starts, has a detrimental impact on the productivity and morale of the team. If the striker wants to leave, the Club must find a suitable high-profile player to replace it until the close of the transfer window, and if he wants to stay, he should come out and declare their intentions.</P><P><STRONG>Young people are themselves</STRONG></P><P>On the plus side though, the Club's youth is Adnan Januzaj, Wilfred Zaha and Jesse Lingard — have been nothing short of a revelation. They impressed everyone with their zeal and energy and a lot of times when a push occurs, the tour helped the team to perform better. Januzaj is a true playmaker, a kind of Club looking for years and for his age (he is only 18 years old!) he is very calm and assured on the ball. His man-match performance during Rio Ferdinand review is clear proof of his ability. Lingard is doing well for the past two preseasons, and many feel that this is his year to make a mark in the first team. He may miss the Super Bowl, but he was the top scorer of the club tour around the world, and this is no small feat.</P><P>Although, Zaha was the one who won the hearts of everyone and Ferdinand comments after the match with Osaka in summary. "What most impressed me about Wilf his raw ability," he told the man he could take United.com someone from a standing start. It is fast and direct, but what surprised me the most is how quickly he gets off his shots. I don't like to talk too much, too soon, but I think he is a fantastic talent. "</P><P><STRONG>Moyes is a human right</STRONG></P><P>Finally, one thing that is abundantly clear is Moyes the man for the job. He took on the daunting task of succeeding Ferguson in his stride and not concealed the fact that he is still getting the magnitude of this club. "There has to be an element of fear that comes with managing a club like Manchester United," he said during the tour team in Asia. "It keeps you working, it keeps you focused and helps you, you are not trying to take your eye off the ball".</P><P>Moyes the Club overhaul behind-the-scenes footage to make his mark and former players Club on his coaching staff and connect with his players. His approach is also not gone unnoticed and the players responded well. "The Manager is the practical training. He has a lot of Sir Alex in this sense, "Michael Carrick told United's official website. "David likes to be in the mix and that is good. It creates an intensity and everyone responded to this. There's a great atmosphere around the place.</P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-9135963965316222262013-08-12T00:27:00.000-07:002013-08-12T00:27:00.860-07:00New companies Bill: here are the moments of pleasure and pain <P>India has the completely new company law, which is more suitable for the 21st century and its problems. With the passing of the companies Bill, 2012, in the Rajya Sabha today, which is of the companies Act, 2013, when officially notified the legislation, few things change for the Indian corporate sector (download the full Bill here).</P><P>Among them: corporate boards should have a third of their members as independent members; Some boards should include more women; Auditors should necessarily be changed after 10 years; the costs of corporate social responsibility (CSR) will be given for companies of a certain size and minimal profitability; the company's Board of Directors will have to become more accountable; and, most importantly, minority shareholders and investors in the company, you can start a class action lawsuit against the leadership.</P><P>The best thing about the new company law is simple, with greater clarity of intentions and objectives. It replaces the old law with more than 700 conflicting situation with something shorter and sweeter: 470 reservations all in 309 pages. Not bad for something that will regulate all listed and unlisted companies in the country.</P><P>However, the current law does not in itself becomes a great law, success depends on the implementation. Here are the main issues that will make or Mar the success of the new law.</P><P><B># 1: independent directors:</B> a fine in principle is to make the company have one third of their Board members as independent directors. Independent directors (IDs) also more strictly defined, and their term will be limited to two terms, adding up to 10 years. Identifiers can also hold a maximum of 20 directorates.</P><IMG class="size-full wp-image-1022749 " alt="d" src="http://www.nextgendatabase.vacau.com/indiainc2.jpg" width="380" height="285">The best thing about the new companies Act, that is simply, with the clarity of intentions and objectives<P><P>Sounds tempting? But there are drawbacks. For three reasons. Firstly as independent identifiers can be when they are appointed and paid by the promoters? The promoters will appoint a truly independent people on the boards? Secondly there are enough people to be appointed as identifiers? In theory, Yes, because there are no qualifications for becoming an identifier. However, in practice, once you tell future face duties that it will carry, the actual number of competent IDs and willingness decreases. In fact, most IDs would eventually adorn the corporate boards without the time and commitment to work for the benefit of shareholders. Thirdly, if the right IDs eventually occupying 20 directorships each, how can they really serve each of these companies stockholders carefully? According to the report, CNBC TV18, Analjit Singh Max India, for example, attended only one Board meeting 14 Dabur in the three years before he resigned. He really helped protect the interests of the shareholder's remaining missing Dabur?</P><P>Conclusion: it is good to have many identifiers, but corporate governance will require heavy doses of regulation too to complete the picture.</P><P><B># 2: corporate social responsibility:</B>of course, this Bill does not do 2 per cent of the cost of mandatory CSR, but he comes close. As we noted earlier, the real problem is not in percentage, but that the Bill makes no effort at all to define CSR. The only obligation is to allocate funds to form the Committee, develop a policy for CSR and spend the cash. If you don't spend the money, you should explain in the annual report. So it seems the law has no problem if the company uses the profits to help commercial sex workers in Mumbai or build places of worship as part of CSR.</P><P>According to business research in January, 457500 on the BSE 500 Index companies will have to provide for CSR, and on the basis of average net profits over the previous three years, they will have to fork out RP 6.751 crore in the CSR spends. ONGC will spend about 405 rupees crore per year and reliance 377 rupees crore, the newspaper said. RS 6.751 crore is not a small amount. But it's chickenfeed compared to ONGC and other oil and gas companies have spent (and wasted) in subsidies for fuel consumers in India under the UPA (more than 30 times the total mandatory CSR for India Inc., combined). So, in addition to cultivating a corporate conscience, what difference will it make to society?<B><BR></B></P><P><B># 3: excessive bureaucracy:</B>to make directors accountable, new companies Bill mandates that every Director should register themselves with the Government and get a Director identification number (DIN). As UID, which should give every Indian citizen a unique identity and prevent fraud, DIN will allow the Government to control the number of directorships that any person holds, as well as its track record. Given India's track record, where bureaucratic monitoring of Corporate Affairs leads to corruption and bribery, as the Board of Directors will want to risk being on the watch list, the Government? DIN hold more competent people from holding directorships or encourage them?</P><P><B># 4: women directors:</B> it's important for corporate boards for gender diversity, but before that happens, the supply of women qualify for Board positions to be created. According to the rankings of women on the boards of GMI surveys 2013, even on the most well-known companies in the world, women make up only 11 percent of total directorships. In India, a sample of 89 companies with more than $ 1 billion in market valuation, women account for less than 7 per cent. And we are only talking about major companies here. Obviously will have to be made to create more women directors work, but before that there should be more women reaching the top of the corporate hierarchy. Legislation should serve as a catalyst for the empowerment of women, but the line may be years away.</P><P><B># 5: class action suits.</B> Perhaps the best new company position Bill is the inclusion of tort actions and class action lawsuits. If this provision was set in the year 2008, Satyam Indian shareholders to have filed a class action lawsuit against the company, or even the Rajus Mahindra-run, which took over Satyam's assets. Mahindra Satyam settled lawsuits in the United States and the UK, as these countries include class action suits, but in India the shareholders were left idle while foreign shareholders were returned.</P><P>This cannot happen in the future, but the question is whether the shareholders of public companies can sue the Government for crushing the minority interests. It is worth recalling that coal India was sued by a shareholder (the children's investment fund) for the next Government diktat to lower coal prices in the year 2012. There are ample opportunities for claims against ONGC oil India, GAYLE, who are subsidizing losses in oil marketing companies.</P><P>Class action suits should be filed before the Tribunal of the national company law for the first time, but banking companies are excluded from such action.</P><P>In the weeks ahead as companies pore over the fine print of the Bill, the more problems will surface. But now the best sum up this is: it's a good start, but as always, the proof of the pudding is in the eating.</P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-50888330435358508302013-08-12T00:12:00.000-07:002013-08-12T00:12:00.494-07:00J K & live: Pac attack Indian Army posts, BSF jawan injured <P><STRONG>8: 50 am: Pack attacks on at least 13 Indian Army posts</STRONG></P><P>On Sunday Pakistani forces violated the ceasefire agreement in the area of Mendhar in Poonch district. Ten Indian Army posts, including those in Lango, forward Balakot and Dera Basi, came under fire at around 11: 30 am.</P><P>On the same day Pakistan attacked Degwar area in Poonch district, where three posts were sent to Indian army – Noorkot, Nakarkot, Mumtaz, and FSB jawan was wounded, told CNN-IBN. Read more here.</P><IMG class="size-full wp-image-1025853" alt="Border Security Force (BSF) jawans patrol near the Line of Control in Poonch. PTI" src="http://www.nextgendatabase.vacau.com/BSF-LoC-PTI.jpg" width="380" height="285">Border security force (BSF) jawans patrol near the line of control in Poonch district. PTI<P><P><STRONG>8: 30 am: BSF jawan injured in 5 Aug attack dies</STRONG></P><P>BSF Jawan, injured in cross-border firing in the Samba district of Jammu and Kashmir August 5, succumbed to his injuries on Sunday.</P><P>Head Constable RAM Niwas Mina, who was treated at AIIMS, as he was injured along the LOC with Pakistan, died in 12:30 am due to multiple organ failure and excessive bleeding, doctors said. Read more here.<BR>Less than a week after Pakistan Army specialist attacked India along the LOC in Poonch district of Jammu-Kashmir, Pakistan once again violated the ceasefire agreement and attacks on at least 13 Indian Army posts.</P><P>If you would like to read previous updates in LoC attack, click here.</P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-50158560949042517012013-08-11T23:32:00.000-07:002013-08-11T23:32:00.145-07:00«Ченнай Экспресс» все набор пересечь 100 рупий crore Марк сегодня<P>The number is not everything, but it looks very much like Chennai Express, Shah Rukh Khan and Deepika Padukone starrer is well on his way to breaking every record collection.</P><br /><P>In Bollywood world, where income is largely split on opening weekend collections, both in India and abroad, Satellite rights and advertising and sponsorship rights, Chennai Express messages already earned 48 rupees crore. Opening day collections were at Rs 33.12 earned, Salman Khan Ek Tha Tiger, which earned 32.92 rupees crore rupees.</P><br /><P>According to an article in the economic times Sunday collections expected around 33 crores of rupees. International Business Times reported that Rohit Shetty film grossed Rs 67. 92 crores in just three days-6.75 rupees crore on Thursday during paid previews, 33.12 rupees crore in 28.05 rupees crore on Friday and Saturday. If the figures predicted by the ET are anything to go by, a collection of films already have crossed 100 crores of rupees.</P><br /><P>While the full theaters, the film also earned close to Rs 7 crore in paid Announcements. Prakhar Joshi, PVR cinemas told the Hindustan Times "Now CE holds the record of largest opening day in PVR-if you add Announcements, this number becomes even more. We have always been confident in the movie to do well so, supported it with maximum show sticks (sic) and the correct ticket prices. "</P><br /><P>According to the business standard Disney movie UTV is also did very well in foreign markets, where Viewing the collections were in 7.8 rupees crore.</P><IMG class="size-full wp-image-922435" alt="They certainly have reason to be happy. Sachin Gokhale/Firstpost " src="http://www.nextgendatabase.vacau.com/shahrukhdeepikashetty.jpg" width=380 height=285>Of course, they have reason to be happy. Sachin GOKHALE/firstpost-war<br /><P><br /><P>"We received a response from all quarters and the film loved by all," Gaurav Verma, Director – India, theatrical distribution, Studio, Disney UTV told IANS.</P><br /><P>"Although the Chennai express" plays in the largest number of screens for any movie, we still have enough capacity in most places because of the huge demand at the box office, and the movie is on the way for the creation of new indicators, "said Verma.</P><br /><P>Trade analyst Taran Adarsh said that collective numbers minted film on Thursday and Friday in India amounted to Rs. 39.87 crore NET.</P><br /><P>It is believed that were made in the budget of Rs. 70 crores, "Chennai express" had a Grand release in more than 3500 screens at home and abroad, 700.</P><br /><P>Advance booking for the film were strong, said Girish Wankhede Cinemax chain.</P><br /><P>"He is doing very well. On Thursday were 80 to 90 percent of capacity. Advance booking was strong this weekend. He will do very well in the coming weeks also, "Wankhede told IANS.</P><br /><P>In addition, down South the film received a good response.</P><br /><P>Trade analyst Trinath General: "this is probably the best, opening for SRK film in the State. Even though people have expressed about stereotypes in ' Chennai Express ', no one had any issues with it and covers it with a smile.</P><br /><P>In the film, Shah Rukh plays the North India, who falls in love with a girl Tamil, apply it "Om Shanti Om" co-star Deepika.</P><br /><P>The number of shows were doubled in Chennai for ' Chennai express "as the Tamil film" do not release "Thalaivaa there.</P><br /><P>"With" does not release Thalaivaa show for ' Chennai express "were twice (on Friday). We had about 95 percent occupancy for paid previews and most shows at weekends are booked, "multiplex representative in Chennai, said.</P><br /><P>Mumbai-based trade analyst Komal Nahta film not as entertaining as Shetty in previous movies like "Golmaal" series, but he does not deny that the film really got a "fantastic start" in India.</P><br /><P>Internationally, the film that does well.</P><br /><P>In the Gulf region, he released Thursday and were minted $ 435,000, with 28 screens still to report. But, according to estimates, cross the $550,000 by the time all the screens report, says the source.</P><br /><P>In Singapore, two screens while the report, but he did $95,359 on Thursday.</P><br /><P>"Chennai express", a comedy, was the only night show previews in Britain Thursday, numbers are 142.220 pounds from three sites still to report.</P><br /><P>In Australia paid Announcements Thursday amounted to $34,314, while in New Zealand, figures came to $6,431.</P><br /><P>Adarsh shared on Twitter that the film took "a huge head start in the United States-Canada", earning $2,60, 000000 (Rs. 15, 776, 020.00 approximately) from Thursday night watching the show.</P><br /><P>Officials of UTV motion pictures, which co-produced the potboiler with Shah Rukh's Red Chillies Entertainment, happy.</P><br /><P>««Chennai Express "took the box office by storm in international markets. The film sets new opening day and paid reviews and benchmarks for Hindi movies in most countries, "Amrita Pandey, Executive Director, international distribution, syndication and Disney MEDIA distribution, Studios, Disney UTV, said in a statement.</P><br /><P>"In many cinema chains we added the show and the film was moved additional screens and high capacity screens. She added that it was a massive release of opening huge.</P><br /><P>As we say #RecordExpress is one of the best destinations on Twitter</P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-19290423856082642722013-08-11T23:01:00.000-07:002013-08-11T23:01:00.150-07:00The balance of payment crisis: why the RBI was unable to defend the rupee<P><STRONG>Mumbai</STRONG>: with only enough cash in Reserve Bank of India (RBI) to pay for seven months of imports, 172 billion dollars in debt falling due in the next eight months and weak fund flows, balance of undermining its ability to protect the tumbling rupiah.</P><br /><P>Heavy dependence on imported energy, gold and technology means that India has historically run a current account deficit, which he funded by attracting foreign money into stocks, bonds and corporate investment.</P><br /><P>But as global investors turn away from emerging markets in anticipation of the Federal Reserve system of the United States begin to Wind back its stimulus, weak external position India makes more vulnerable to outflows, and balance of payments deficit.</P><br /><P>India has 280 billion dollars of foreign exchange reserves. That's just enough to cover the seven months of import bills, by far the lowest of the BRICS, the four major emerging market economies.</P><IMG class="size-full wp-image-1025851" alt=Reuters src="http://www.nextgendatabase.vacau.com/rupeereuters-122.jpg" width=380 height=285>Reuters<br /><P><br /><P>That left RBI with limited fire support rupee, which fell 12 percent from the beginning of May and a record low dollar 61.80 United States last week.</P><br /><P>"India cannot afford to protect many with so little of the currency reserves," demographer said, refusing to be identified as he was not authorized to speak to the media.</P><br /><P>The RBI said to consider three months of import cover to a minimum acceptable level, but some insiders of the Central Bank, is said to be uncomfortable that the reserves run down to the lowest import covers from 1996 onwards.</P><br /><P>"Cover the lower imports continue to be a source of discomfort," said another politician.</P><br /><P>"We wanted to increase the import cover. If there is a gap in the SDS, the currency will take a hit. "</P><br /><P>However, India is not looking to repeat its 1991 crisis. Then with only enough reserves to cover three weeks of imports, the Government was forced to declare their gold in order to pay their bills and had to push through reform, to start opening up the economy.</P><br /><P>VULNERABLE</P><br /><P>In the fiscal year that began in April stocks attracted a net $ 2.3 billion in inflows, but if that changes India might find itself with balance-of-payments deficit. There has been a net outflow of debt of about $ 5.7 billion.</P><br /><P>Stocks accounted for a whopping $ 220 billion of foreign establishments in India, according to the Bank of America-Merrill Lynch. The debt amounts to a relatively small $ 81 billion in foreign assets, government data show.</P><br /><P>India ran balance-of-payments (BoP) in 2008/09 and 2011/12. He posted a small surplus of 3.8 billion dollars in 2012/13 year which ended in March, but some economists expect it to slip back into deficit this financial year.</P><br /><P>Everything up to the end of this fiscal year, India needs to refinance or repay the $ 172 billion of obligations — for example, foreign loans, trade credits and private debts — which is nearly 45 percent of its total external borrowings and the equivalent of 59 percent of its reserves.</P><br /><P>"We are vulnerable now," said Abheek Barua, Chief Economist of HDFC Bank in New Delhi.</P><br /><P>"If this vulnerability is evident in one big by default to internal loans or outside commercial borrowing, it can threaten a sovereign rating, and that could trigger a balance of payments crisis," said Barua</P><br /><P>Any default is seen as more likely to be on domestic debt, but the risk it will spoil the General investment environment and hit the already slowing economic growth.</P><br /><P>Investors are hoping the appointment of Raghuram Rajan, former Chief Economist of the IMF, as Governor of the RBI, helps to speed up measures to stabilize the rupiah.</P><br /><P>Rajan said the sovereign or quasi-sovereign dollar bonds to attract inflows of dollar, widely regarded as an effective, if expensive, temporary measure to support the rupiah. Outgoing Governor Duvvuri Subbarao opposed the issuance of sovereign bonds.</P><br /><P>THE CURRENT ACCOUNT DEFICIT</P><br /><P>Although the Government has set curbs gold imports and other measures to reduce the gap in external accounts, investors and economists believe more needs to be done to attract long-term funds to help balance the external accounts.</P><br /><P>The current account deficit, –permanent 88 billion deficit exists, or 4.8 per cent of GDP in 2012/13 — but there are restrictions on what you can do to reduce it.</P><br /><P>The Bill for oil, the largest and most inelastic import India was 169.4 billion dollars in 2012/13, and the weak rupiah only push up costs.</P><br /><P>HDFC Bank Barua expects that India will end up with a balance of payments deficit from $ 12 to $ 15 billion in 2013/14.</P><br /><P>"We are close to a crisis, seen in 1991 year, but cannot be excluded from the field of possibilities," he said.</P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-64326471673796703132013-08-11T22:30:00.000-07:002013-08-11T22:30:01.231-07:00Narendra Modi talks Telangana, TDP alliance in Hyderabad<P>The sight of a jam packed Lal Bahadur stadium in Hyderbarad must have been very enthusing for Narendra Modi and the Andhra Pradesh unit of the BJP.</P><br /><P>After all, the main opposition party’s campaign committee chief was testing his popularity in a state where the BJP’s presence is at best marginal. The size and response of the gathered crowd was particularly important because he was experimenting with a new idea of charging Rs 5 from members of his live audience, a first for any Indian political leader. As the event unfolded through Sunday afternoon and evening, his supporters could safely claim that he further cemented his position as the face of the BJP campaign.</P><br /><P>To close his speech Modi took a cue from Barack Obama’s “Yes, We Can” which he made the crowd repeat in unison after him. The social and political equations in Andhra Pradesh and Telangana, especially if created before the next parliamentary elections, do not augur well for the BJP to rout the Congress in that region, but in an era of live telecast, Modi could well be looking at other parts of the nation.</P><br /><P>Modi’s speech was particularly significant in three aspects; he used it to reach out to both pre and post poll allies, mend his fences with senior leader and one time mentor LK Advani, and challenge the ruling Congress on “inclusive growth”.</P><IMG class="size-full wp-image-1025489" alt="A section of the crowd in Hyderabad: PTI" src="http://www.nextgendatabase.vacau.com/Modi-Hyderabad-rally-PTI.jpg" width=380 height=285> A section of the crowd in Hyderabad: PTI<br /><P></P><br /><P>Though it is highly unusual that an offer for an alliance is made through a public rally, Modi did precisely that.</P><br /><P>Invoking the memory of NT Rama Rao in a land where the late Telgu Desham Party (TDP) leader is still considered a hero by many, Modi sought to reach out to current party chief Chandrababu Naidu to take the initiative to form a broader anti-Congress Front. “Those who are at the helm in TDP and bear the legacy of NTR have a responsibility to fulfill that they must do whatever they can to oust Congress from power”, he said.</P><br /><P>The TDP had supported the NDA government from outside for six years, contested elections in Andhra in alliance with the BJP in 1999 and even went for simultaneous polls for the Andhra assembly and Parliament when the BJP went for early polls in April-May 2004. It was however, opposed to Modi’s continuance as chief minister of Gujarat in the aftermath of the 2002 riots. The TDP and BJP fell out in 2004. It has since kept its distance from the BJP fearing a backlash from its Muslim electorate.</P><br /><P>It would be interesting how the party reacts to Modi’s overtures. The Gujarat chief minister perhaps went through this unorthodox method of engaging with Chandrababu Naidu, possibly because he and his party colleagues do not have the luxury of having a face to face dialogue with him in private. “Some may come today, some may come tomorrow”, he said, adding the nation has made up its mind to overthrow a corrupt Congress regime.</P><br /><P>Modi also praised Tamil Nadu Chief Minister Jayalalithaa with whom he shares a good rapport.</P><br /><P>In another significant overture, Modi also talked about LK Advani, and his move of carrying out a Yatra against corruption and back money.</P><br /><P>The message was not lost on other party leaders. Modi has lately covered a lot of ground in building his bridges with Advani. Also, he needs Advani’s nod before he can be officially announced as the BJP’s Prime Ministerial candidate. In this context it was also interesting that he lauded Madhya Pradesh Chief Minister Shivraj Singh Chouhan, a known Advani protégée, and Chhattisgarh Chief Minister Raman Singh for their good work on the Ladli Laxmi Yojna (scheme for girl child) and food security programmes, respectively.</P><br /><P>His decision to speak of inclusiveness and the Congress’s ploy to keep the people divided in Hyderabad which has a significant Muslim population, had a great deal of symbolic importance. “Today they talk much of a term inclusive growth. Where was this term till a few years ago. It did not exist anywhere in the Planning Commission plan and any such other paper. Why are they talking about it today. This is because what Congress did for last 60 years was not inclusive it only worked to exclude sections of society.” By taking a counter offensive strategy, Modi was not just taking the ball into Congress’s court but was also responding to the criticism from ally turned foe, JD(U) leader Nitish Kumar.</P><br /><P>The creation of Telangana and the death of five Indian soldiers along the Line of Control also figured prominently in Modi’s speech. While he treaded a cautious path in relation to Telangana, he went after the Congress led government over the death of the soldiers.</P><br /><P>“When Pakistan had beheaded two of our soldiers the Prime Minister had said business can’t be as usual with Pakistan. How do we believe him and who do we believe. Now Pakistan has killed five of our soldiers but a country of 125 crore is made to silently bear the brunt of Pakistani atrocities.”</P><br /><P>He also slammed the government’s foreign policy strategy, bringing up issues like illegal immigration from Bangladesh and intrusion by China into Indian territory, blaming it all on a weak “Delhi Sultanate” and a foreign minister who served biryani to the Pakistan PM in the immediate aftermath of the beheading of two Indian jawans in the name of ‘following protocol”.</P><br /><P>This time Modi did not use a word that could give his critics and Congress to immediately pick on to suggest communal overtones. He, however, was clear in his message that he was already in poll campaign mode and would only step up his aggression against Congress as elections draw closer.</P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-28788681759844741322013-08-11T22:14:00.000-07:002013-08-11T22:14:00.090-07:00Photos: Riding high on Chennai Express, SRK celebrates Eid with BollywoodAppId is over the quota<br />AppId is over the quota<br /> <P>The Bachchans arrive in style: Sachin Gokhale/ Firstpost</P>Sorry, I could not read the content fromt this page.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-72059259126981867132013-08-11T21:40:00.000-07:002013-08-11T21:40:00.308-07:00Tata Motors to create 1,000 jobs at JLR plant in UK<P><STRONG>London</STRONG>: Tata Motors-owned Jaguar Land Rover (JLR) is considering a major expansion plan at its UK factory which could create as many as 1,000 jobs.</P><br /><P>The company has singled out its Halewood factory in Merseyside, north-west England, for the latest investment injection as a result of rising demand for the Range Rover Evoque as well as a rollout of new models.</P><br /><P>JLR chief executive Ralf Speth plans to launch 40 new models in the next five years and aims to double car sales to 750,000 by 2015.</P><IMG class="size-full wp-image-1025823" alt=Reuters src="http://www.nextgendatabase.vacau.com/TatamotorsfromReuters2.jpg" width=380 height=285> Reuters<br /><P></P><br /><P>According to a report in The Sunday Times</EM>, it is believed the company is also eyeing plans to expand its Solihull factory in the West Midlands to cope with new Jaguar launches.</P><br /><P>The Indian car maker employs 24,000 workers in the UK and is one of the country’s biggest exporters.</P><br /><P>In May, it revealed record annual pre-tax profits of 1.7 billion pounds, and last week reported a 29 per cent rise in first-quarter profits to 304 million pounds.</P><br /><P>A source told the newspaper that the plan to extend capacity at Halewood, which has 4,500 workers, was well advanced.</P><br /><P>It will be funded from the 2.7 billion pounds that JLR set aside for capital expenditure in the current financial year.</P><br /><P>However, the announcement on the investment has been delayed by the threat of an imminent strike by DHL workers, who deliver parts to the car maker’s production lines.</P><br /><P>“It is not going to derail the investment because this is going to build capacity for the next five years. It is just difficult to green light the investment until the DHL situation has been resolved,” the source was quoted as saying.</P><br /><P>As well as providing a boost for Britain’s burgeoning car industry, the Evoque is also set to keep Chinese car workers busy.</P><br /><P>It is expected to be the first vehicle to roll off the production line at JLR’s Chinese joint venture with Chery in 2015.</P><br /><P>In 2008, the Jaguar Land Rover company was established when Tata Motors acquired the Jaguar and Land Rover businesses from Ford.</P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-33687052732454548462013-08-11T21:16:00.001-07:002013-08-11T21:16:56.667-07:00CSR mandatory with passage of New Companies Bill: All you need to know<P>The New Companies Bill was finally passed in Rajya Sabha on Thursday, making it mandatory for profit making companies to spend on activities related to Corporate Social Responsibility (CSR).</P><br /><P>With the new legislation, India would possibly become the first country to have Corporate Social Responsibility (CSR) spending through a statutory provision.</P><br /><P>The bill will now go for presidential assent. The lower house of parliament Lok Sabha cleared the bill Dec 18 last year.</P><br /><P>The Bill, aimed at enhancing corporate governance, also contains provisions to strengthen regulations for corporates as well as auditing firms and promises to ensure an equitable and sustainable growth of the country.</P><br /><P>The new Bill has introduced numerous changes and concepts which should simplify regulations and bring greater clarity and transparency in managing businesses..</P><br /><P>Presenting the bill in Parliament, Corporate Affairs Minister Sachin Pilot termed the passage of the Bill as a new era for corporate law and regulation in Indian economy and said this is a ‘historic moment for the country.”</P><br /><P>“After 100 years, this is the second time that a new companies law has been legislated,” he said.</P><br /><P>Industry body FICCI welcomed the passage of the Companies Bill and said this legislation is indeed a milestone in the history of company law and will revolutionize the administration and management of businesses in the times to come.</P><br /><P>“Industry hopes that the Working Rules which are expected to be put out in the public domain before notification would provide greater clarity on the operative provisions in the Bill while taking into account legitimate concerns of India Inc,” said Naina Lal Kidwai, President, FICCI.</P><br /><P>“FICCI hopes that there are no inconsistencies in various laws since consistency and certainty in laws helps in effective functioning of business, added Kidwai.</P><br /><P><STRONG>Following are the key highlights of the Bill:</STRONG></P><br /><P>Around 193 recommendations have been included in the Companies Bill by the Parliamentary Standing Committee and with passing of this Bill, the Companies Act of 1956 will be replaced.</P><IMG class="size-full wp-image-1020775" alt="Corporate Affairs Minister Sachin Pilot" src="http://www.nextgendatabase.vacau.com/sachin-pilot.jpg" width=380 height=285> Corporate Affairs Minister Sachin Pilot<br /><P></P><br /><P>The proposed legislation would ensure setting up of special courts for speedy trial and stronger steps for transparent corporate governance practices and curb corporate misdoings.</P><br /><P>The new law would require companies that meet certain set of criteria, to spend at least two percent of their average profits in the last three years towards Corporate Social Responsibility (CSR) activities. But only companies reporting Rs 5 crore or more profits in the last three years have to make the CSR spend.</P><br /><P>The Bill allows companies the freedom to choose areas of work for CSR and the mandate of a rotation in auditors every 5 years gives the process added credibility.</P><br /><P>In case, entities are unable to comply with the CSR rules, they would be needed to give explanations. Otherwise, they would face action, including penalty.</P><br /><P>The amended legislation also limits the number of companies an auditor can serve to 20 besides bringing more clarity on criminal liability of auditors.</P><br /><P>The new bill also says the rotation of audtiors will take place every five years, , while an audit firm cannot have more than two terms of five consecutive years.It also makes auditors subject to criminal liability if they knowingly or recklessly omit certain information from their reports.</P><br /><P>The term for independent directors have been fixed for five years too. The maximum number of directors in a private company has been increased from 12 to 15, which can be increased further by special resolution.</P><br /><P>The new law also makes its mandatory for companies that one-third of their board comprises independent directors to ensure transparency. Also, at least one of the board members should be a woman.</P><br /><P>The new bill will speed amalgamations and mergers</P><br /><P>The bill provides for class action suit, which is key weapon for individual shareholders to take collective action against errant companies. The move is being seen as a positive as it empowers small shareholders to seek answers in case they feel that a company’s management or its conduct of affairs is prejudicial to its interests or its members or depositors.</P><br /><P>The Companies Bill also states that corporates must disclose the difference in salaries of the directors and that of the average employee. This will protect the interest of shareholders as well as employees.</P><br /><P>The new law mandates payment of two years’ salary to employees in companies which wind up operations.</P><br /><P>The law also gives more statutory powers to the government’s investigative arm Serious Fraud Investigation Office (SFIO) to tackle corporate fraud.</P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-46704413258047935492013-08-09T17:04:00.000-07:002013-08-09T17:04:00.633-07:00Nagasaki marks 68th anniversary of US atomic bombing<P><B>Tokyo, Aug 10 </B> Japan’s Nagasaki city Friday marked 68th anniversary of atomic bombing by the US during World War II, with Prime Minister Shinzo Abe vowing to push forward for the abolition of nuclear weapons.</P><br /><P>Representatives from 44 countries attended the ceremony held in the city’s Peace Park where participants offered silent prayers for the victims at 11.02 a.m., the exact time when the atom bomb had hit Nagasaki, Xinhua reported.</P><br /><P>Abe pledged again that his country would make efforts for the abolition of nuclear weapons, as he did three days ago in Hiroshima while marking the 1945 bombing of that city.</P><br /><P>However, Nagasaki Mayor Tomihisa Taue criticised the Japanese government for its recent inaction in opposing nuclear weapons, referring to Japan’s failure to sign a statement rejecting the use of nuclear weapons.</P><br /><P>To end the World War II, the US had dropped two atom bombs in Japan’s Hiroshima and Nagasaki cities Aug 6 and 9 in 1945 respectively. About 74,000 people were killed in Nagasaki alone in the blast.</P><br /><P>The bombing of Nagasaki was carried out three days after the first-ever atomic blast at Hiroshima, which claimed about 140,000 lives in all. </P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-90450743763431440982013-08-09T16:31:00.000-07:002013-08-09T16:31:00.514-07:00UAE president exchange Eid greetings with leaders<P>Headlines : UAE president exchange Eid greetings with leaders</P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-20672760696593911632013-08-09T15:55:00.000-07:002013-08-09T15:55:00.044-07:00India should have done better, say freedom fighters<P><B>New Delhi, Aug 9 </B> They were jailed and made sacrifices as they single-mindedly worked to throw off British rule and build an India of their dreams. But freedom fighters do not appear to be satisfied with progress over the past six decades and feel the country should have done much better.</P><br /><P>Most of the freedom fighters IANS spoke to at an At Home by President Pranab Mukherjee at the Rashtrapati Bhavan Friday to mark the 71st anniversary of Quit India Movement were concerned about corruption. </P><br /><P>Mostly in their 80s and 90s, the freedom fighters also had concerns about price rise, situation of farmers and employment opportunities for youth. </P><br /><P>Bichhanda Charan Pradhan, 91, from Odisha, was jailed and his property confiscated for fighting the British. He compared his feelings at the country attaining Independence in 1947 to a cow getting away from captivity. </P><br /><P>However, Pradhan said he was not satisfied with the country’s progress. </P><br /><P>“There is exploitation. Those in positions of power are insensitive. People often have to give money to get their work done,” he said. </P><br /><P>Mahendra Bajpeyi from Jabalpur in Madhya Pradesh was a student when the Quit India movement was launched on Aug 9, 1942 and participated in the “spontaneous civil disobedience movement which spread all over the country”. </P><br /><P>Bajpaeyi, who was later jailed for participating in scavengers strike, said leaders of freedom movement had a vision of education, health and employment for all but complains these have not been realised. </P><br /><P>“A report has said that about 80 percent of population live on income of Rs 20 per day? There is no control over price rise. Alongside there are threats to country’s security, left wing extremism and religious intolerance,” he said. </P><br /><P>Devi Prasad Sinha Chaudhary from Jharkhand, who also took part in the Quit India movement, said that the purpose for which Mahatma Gandhi gave a call for Independence has not been fulfilled. </P><br /><P>“The dream was of Ram Rajya but it is Ravan Rajya (rule of the demon king). Earlier, the British looted the country, now our own people are looting the resources. It hurts my soul. The prevailing conditions are not those for which we had made sacrifices,” he said. </P><br /><P>Sitaram Sah, another freedom fighter from Jharkhand, said that corruption was widespread and people are not able to fully avail their rights. </P><br /><P>“The system should be such that everyone benefits from the country’sdevelopment,” he said. </P><br /><P>D. Pampanna, a freedom fighter from Karanata, said the government should give immediate attention to the lot of farmers and create opportunities for the youth. </P><br /><P>“Farmers are dying due to debt,” he said. </P><br /><P>Subhadra, a freedom fighter staying here, said the country’s leaders need to protect at least one ideal and the nation should strive for common goals.</P><br /><P>The president honoured and felicitated 121 freedom fighters Friday in the presence of VicePresident Hamid Ansari, Prime Minister Manmohan Singh, UPA chairperson Sonia Gandhi, Defence Minister A. K. Antony and other dignitaries.</P><br /><P>Each of the freedom fighters was gifted a solar lamp with a personal message from the President. </P><br /><P>In his message, the President said “nature has always been kind to humanity. But, whenever greed has overtaken need, nature has revealed its destructive face. The recent natural calamity in Uttarakhand has once again shown the necessity for mankind to live in harmony with nature. Increased use of solar power can help us preserve the environment”. </P><br /><P>The event is being held at Rashtrapati Bhavan since 2003 to honour freedom fighters and mark the anniversary of Quit India movement. </P><br /><P>The All India Congress Committee had adopted a resolution on Aug 8, 1942 in Bombay (now Mumbai) calling on the British to “Quit India”. There was a spontaneous movement next day in response to Mahatma Gandhi’s call for immediate independence. </P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-90592063013963954342013-08-09T15:21:00.000-07:002013-08-09T15:21:00.310-07:00Joy, fervour mark Eid-ul-Fitr celebrations in Mumbai<P><B>Mumbai, Aug 9 </B> Muslims in Maharashtra celebrated Eid-ul-Fitr with great fervour and gaiety Friday. This year, the festival that marks the end of the period of fasting in the holy month of Ramadan fell on a Friday, making it special.</P><br /><P>Lakhs of Muslims clad in traditional attire trooped out at dawn to the nearest mosque in places like Dahisar, Borivli, Jogeshwari, Andheri, Marol, Bandra, Sion, Byculla, Mazagaon, Ghatkopar and other areas of state capital Mumbai to offer the thanksgiving “khutba” or special Eid namaaz.</P><br /><P>For the first time in over two decades, the main Eid-ul-Fitr prayers could not be held at the historic Azad Maidan owing to rain, Syed Zafar, a senior citizen residing in Nagpada, south Mumbai, said.</P><br /><P>“This year, the prayers were conducted mainly in the big and small mosques, many of which had erected special marquees to protect the devout from unpredictable Mumbai rains,” Zafar said.</P><br /><P>The morning prayers would be followed by similar special Friday prayers later in the afternoon, making the Eid-ul-Fitr of this year rare and truly memorable. </P><br /><P>“For the first time in many years, Eid-ul-Fitr falls on a Friday, making the occasion twice as auspicious for all Muslims,” Shabbir Somji, senior member, Khoja Asla Ashri Jamaat, told IANS.</P><br /><P>Soon after the “khutba”, Muslims greeted each other with “Eid Mubarak” and hugged, inside the mosques. Beyond the mosque, the greetings and hugs extended to non-Muslim brethren.</P><br /><P>Then, the first celebrations started with a bowl of “sheer-korma”, the special Eid sweet preparation made of milk, vermicelli and lots of dates, assorted dry fruits and saffron, eaten with relish and served to visitors through the day.</P><br /><P>Elsewhere in Maharashtra, traditional pomp and enthusiasm marked Eid-ul-Fitr celebrations in Thane, Raigad, Ratnagiri, Pune Nashik, Aurangabad, Beed, Latur, Nanded and other districts in the state.</P><br /><P>The festival was celebrated with gusto in Muslim-dominated towns like Bhayander, Mira Road, Bhiwandi, Mumbra, Malegaon, Alibaug and others across the state.</P><br /><P>Shortly after the sighting the Eid moon Thursday night, mosques and other religious places in Mumbai and other parts came alive with colourful fairy lights, decorations of with flags, flowers and festoons to herald the joyful festival.</P><br /><P>Maharashtra Governor K. Sankaranarayanan, Chief Minister Prithviraj Chavan, state Congress chief Manikrao Thakre, AICC general secretary in-charge of the state Mohan Prakash, AICC general secretary Gurudas Kamat and AICC secretary Sanjay Nirupam were among the prominent people sending out Eid-ul-Fitr greetings.</P><br /><P>Meanwhile, heavy security was deployed in all Muslim pockets in Mumbai and other parts of the state to ensure peaceful celebrations. </P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-30126174308555067452013-08-09T15:06:00.000-07:002013-08-09T15:06:00.122-07:00Religions asking if test-tube burgers allow them to keep the faith<P><IMG title="" class="alignleft size-medium wp-image-3990" alt="" src="http://www.nextgendatabase.vacau.com/e2a7r.jpg" width=380 height=285> <br /><P>PARIS (Reuters) – When the world’s first test-tube beef burger was cooked and eaten this week, food critics all asked about its taste. For many Jews, Muslims and Hindus, the first question was whether their faith allowed them to try it.</P><br /><P>Religious websites were abuzz with questions and opinions this week after biologist Mark Post of Maastricht University presented his innovation to the media in London on Monday.</P><br /><P>“Is the lab-created burger kosher?” the Hasidic Jewish movement Chabad Lubavitch asked on its website.</P><br /><P>Dietary laws exist in many religions, but came about so long ago that not even their prophets could have imagined a ready-to-fry beef patty grown in-vitro from the stem cells of a cow.</P><br /><P>If religious authorities interpret their ancient texts in a way that allows them to give this new food their blessing, now-banned kosher cheeseburgers and Hindu hamburgers, as well as an undisputed method of producing halal meat, could be possible.</P><br /><P>Chabad’s Rabbi Yehuda Shurpin wrote the Talmud tells of “miraculous meat” that fell from heaven or was conjured up by rabbis studying a mystic text.</P><br /><P>Since it was automatically kosher because it wasn’t from a real animal, this could be a model for test-tube meat.</P><br /><P>But he said if the stem cells are real meat, they have to come from a cow slaughtered according to kosher law, which says the animal’s throat must be slit while it is still conscious.</P><br /><P>Expert rabbis need to study this more carefully “when the issue becomes more practical and petri-dish burgers become and affordable option,” Shurpin concluded.</P><br /><P>The kosher ban on mixing meat and dairy products presents another hurdle for observant Jews considering a cheeseburger.</P><br /><P>Rabbi Menachem Genack of the Orthodox Union in New York told the Jewish Telegraphic Agency that test-tube beef could be considered “parve” (neither meat nor dairy) under certain conditions and so kosher cheeseburgers could be allowed.</P><br /><P>LIKE YOGURT AND PICKLES</P><br /><P>Islam’s halal laws require ritual slaughter similar to kosher butchering, but with fewer restrictions.</P><br /><P>“There does not appear to be any objection to eating this type of cultured meat,” the Islamic Institute of Orange County in California responded to a questioner on its website.</P><br /><P>Animal rights activists see the Muslim and Jewish slaughter methods as unnecessary cruelty and calls to ban this kind of butchering have grown in Europe in recent years as halal meat has become increasingly available in shops and restaurants.</P><br /><P>Gulf News in Dubai quoted Abdul Qahir Qamar of the International Islamic Fiqh Academy in Jedda, Saudi Arabia, as saying in-vitro meat “will not be considered meat from live animals, but will be cultured meat.”</P><br /><P>As long as the cells used are not from pigs, dogs or other animals banned under the halal laws, he said, the meat would be vegetative and “similar to yogurt and fermented pickles.”</P><br /><P>Several Muslim websites left fresh questions about this new meat unanswered, probably because Muslims were more concerned this week with celebrating the end of the fasting month Ramadan.</P><br /><P>NOT FOR VEGETARIANS</P><br /><P>The prospect of meatless beef has also prompted debate in India, where the Hindu majority shuns steaks and burgers because it considers the cow sacred.</P><br /><P>“We will not accept it being traded in a marketplace in any form or being used for a commercial purpose,” Chandra Kaushik, president of the Hindu nationalist group Akhil Bharat Hindu Mahasabha, told the India Real Time blog.</P><br /><P>Religious websites have been debating the test-tube meat issue for some time now, especially since news about biologist Post’s project began circulating about four years ago.</P><br /><P>Many Hindus and Sikhs are vegetarians, so several of them posted comments saying they probably wouldn’t like the taste of artificial meat even if it was declared permissable.</P><br /><P>“Who wants to eat a carcass anyways, lab grown or not?” one reader asked on the Hindu Dharma Forums website.</P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-31961417148751678222013-08-09T14:31:00.000-07:002013-08-09T14:31:00.267-07:00Obama to unveil steps to increase surveillance transparency<P><IMG title="" class="alignleft size-medium wp-image-3990" alt="" src="http://www.nextgendatabase.vacau.com/9710r.jpg" width=380 height=285> <br /><P>WASHINGTON (Reuters) – U.S. President Barack Obama will unveil new measures on Friday to increase transparency and build public trust in controversial government surveillance programs, a senior administration official said.</P><br /><P>Obama is scheduled to give a press conference at 3:00 p.m. eastern time (1900 GMT) from the White House.</P><br /><P>Civil liberty groups and some foreign governments have raised concerns since disclosures about the U.S. government’s secret surveillance of emails and telephone data, which emerged from information released by fugitive former U.S. spy agency contractor Edward Snowden.</P><br /><P>Since the data-gathering programs were revealed in June, Obama has repeatedly said he would encourage a national conversation about balancing the need for U.S. surveillance with people’s rights to privacy.</P><br /><P>Some lawmakers have vowed to push for legislation calling for more accountability for the programs.</P><br /><P>Obama met with the CEOs of Apple Inc (AAPL.O), AT&T Inc (T.N) as well as other top technology and privacy representatives on Thursday to discuss government surveillance in the wake of revelations about the programs.</P><br /><P>Google Inc (GOOG.O) computer scientist Vint Cerf and transparency advocates also participated in the meeting, along with Apple’s Tim Cook and AT&T’s Randall Stephenson, according to the White House.</P><br /><P>“The meeting was part of the ongoing dialogue the president has called for on how to respect privacy while protecting national security in a digital era,” a White House official said. </P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-66886634527785151492013-08-09T14:09:00.000-07:002013-08-09T14:09:00.081-07:00It’s a rainy Friday, as Delhi celebrates Eid<P>Headlines : It’s a rainy Friday, as Delhi celebrates Eid</P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-46877647491006733402013-08-09T13:47:00.000-07:002013-08-09T13:47:00.398-07:00Sun Pharma posts Q1 loss of nearly $210 millionencourages open discussion and debate, but please adhere to the rules below, before posting. Comments that are found to be in violation of any one or more of the guidelines will be automatically deleted:<br /><P></P>Personal attacks/name calling will not be tolerated. This applies to comments directed at the author, other commenters and other politicians/public figures<br /><P></P>Please do not post comments that target a specific community, caste, nationality or religion.<br /><P></P>While you do not have to use your real name, any commenters using any Firstpost writer's name will be deleted, and the commenter banned from participating in any future discussions. <br /><P></P>Comments will be moderated for abusive and offensive language. <br /><P></P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-78334427300276681152013-08-09T13:17:00.000-07:002013-08-09T13:17:00.411-07:00Wall St eases for fourth day in five<P><IMG title="" class="alignleft size-medium wp-image-3990" alt="" src="http://www.nextgendatabase.vacau.com/3af1r.jpg" width=380 height=285> <br /><P>NEW YORK (Reuters) – U.S. stocks dipped in light volume on Friday, putting the three major indexes on track for their worst week since June, as investors found little incentive to buy with equity prices not far below last week’s record levels.</P><br /><P>Wall Street has struggled this week as an absence of trading incentives kept buyers at bay. Comments from Federal Reserve officials, which created confusion over when the central bank would begin to scale back its stimulus, added to uncertainty.</P><br /><P>The lack of clarity over the Fed’s plans gave investors a compelling reason to pull a record $3.27 billion out of U.S.-based funds that hold Treasuries in the latest week ended August 7, data from Thomson Reuters’ Lipper service showed on Thursday.</P><br /><P>Richard Fisher, president of the Federal Reserve Bank of Dallas, reiterated late Thursday that the central bank will probably begin cutting back on its massive bond-buying stimulus next month, as long as economic data continues to improve.</P><br /><P>“People are looking ahead to the September FOMC meeting and the prospect that the Fed begins its long-awaited exit strategy,” said Michael Sheldon, chief market strategist, RDM Financial, in Westport, Connecticut.</P><br /><P>While many investors are concerned that economic growth will stall without the Fed’s help, stock prices have been supported by some strong earnings and encouraging data overseas.</P><br /><P>In China, industrial output rose more than expected, adding to a string of data that indicated the economy may be stabilizing after an extended period of tepid growth.</P><br /><P>The Dow Jones industrial average was down 63.56 points, or 0.41 percent, at 15,434.76. The Standard & Poor’s 500 Index was down 4.45 points, or 0.26 percent, at 1,693.03. The Nasdaq Composite Index was down 4.89 points, or 0.13 percent, at 3,664.23.</P><br /><P>For the week, the Dow is down 1.7 percent, on track to snap a six-week string of gains. The S&P 500 is down 1.1 percent and the Nasdaq is down 0.7 percent.</P><br /><P>A week ago, both the Dow and the S&P 500 ended on Friday at record closing highs, with the blue-chip average at 15,658.36 and the broad benchmark at 1,709.67.</P><br /><P>J.C. Penney Co. (JCP.N), down 5.3 percent at $12.93, was ranked among the S&P 500 biggest percentage decliners. Bill Ackman, the company’s top investor, fired back at the retailer’s board on Friday, requesting that it meet as soon as possible so it can select a new chairman and decide on other matters.</P><br /><P>Home Depot Inc (HD.N) shares dropped 1.4 percent to $78.89 and were the top drag on the Dow.</P><br /><P>U.S.-listed shares of BlackBerry Ltd (BBRY.O) jumped 3.6 percent to $9.57 after Reuters reported that the company was warming to the idea of going private, citing sources familiar with the situation.</P><br /><P>Economic data showed U.S. wholesale inventories unexpectedly fell 0.2 percent in June, marking a second straight month of declines, versus expectations calling for a gain of 0.4 percent.</P><br /><P>Priceline.com Inc (PCLN.O), rose 5.1 percent to $981.40 a day after the online travel company reported earnings that beat expectations and gave a strong outlook. Some analysts speculate the stock’s price will cross $1,000 soon, which would be a first for a Standard & Poor’s 500 stock.</P><br /><P>Monster Beverage Corp (MNST.O) rose 1.6 percent to $64.47 after JPMorgan raised its price target on the stock to $70 from $52. Late Thursday, the energy drinks company reported earnings that missed expectations.</P><br /><P>Of 446 companies in the S&P 500 that had reported results through Friday morning, Thomson Reuters data showed that 68 percent have exceeded analysts’ expectations, slightly above the 67 percent beat rate over the past four quarters.</P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-54934533099795792332013-08-09T12:49:00.001-07:002013-08-09T12:49:42.873-07:00Eid celebrated with traditional fervour in UP<P>Headlines : Eid celebrated with traditional fervour in UP</P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-83123066827742797112013-08-08T23:52:00.000-07:002013-08-08T23:52:00.112-07:00Wall St rebounds after falling 3-day, led by technology sector<P><IMG title="" class="alignleft size-medium wp-image-3990" alt="" src="http://www.nextgendatabase.vacau.com/a15dr.jpg" width=380 height=285> <br /><P>New York the United States stock indices rose on Thursday, rebounding after three days of declines, led by gains in the technology sector.</P><br /><P>Wall Street opened higher, trimming some gains later in the morning before you get a boost from tech stocks such as Microsoft Corp. in afternoon trading.</P><br /><P>Shares Of Microsoft (MSFT.O) rose by 3% to $ 33.01 in great volume. S & P information technology sector.SPLRCT rose by 0.5%.</P><br /><P>Shares Of Tesla Motors Inc. (TSLA.O) jumped 14.2 per cent to $ 153.46 per day after the electric car maker posted an unexpected quarterly profit. The stock was the main impetus to favorite this year, up almost 350% in 2013.</P><br /><P>"We are in the season when trading volume is low and volatility was low, and there is not much real catalysts for the move. On this day, several major players can move the market up and down, "said Randy Frederick, Managing Director of active trading for Charles Schwab in Austin, Texas.</P><br /><P>The Dow Jones industrial average rose 48.80 points or 0.32 percent, at 15, 519.47. The standard poor's 500 & index was up 7.36 points, or 0.44 percent, to 1, 698.27. The Nasdaq Composite Index rose 18.81 points, or 0.51 percent, to 3, to 672.82.</P><br /><P>Comparative S P 500 index & is about 10 points from the record high of 1, 709.67, set last week and is trading above its 14-day moving average 1, 694.50.</P><br /><P>Stocks inched lower, most of this week, pulling back from record highs, the Fed will begin reducing its stimulus efforts this year as the economy recovers. Gains in stocks were closely associated with enabling policies the FED, and many investors are concerned economic growth could lose steam without help from the FED.</P><br /><P>Groupon Inc. (GRPN.O) shares rose 27 percent to $ 11.05. Late Wednesday, the company reported online coupon income that exceeded expectations and was named its co-founder as Chief Executive.</P><br /><P>JPMorgan Chase & Co (JPM.N) was among the biggest decliners on the Dow Jones industrial average; shares fell 0.8 percent to $ 54.87. The largest United States bank assets faces criminal probe of the Department of Justice United States sales of mortgage-backed securities.</P><br /><P>The data showed weekly jobless claims United States grew less than expected in the last week 333.000. Abroad China in July exports grew 5.1 percent, exceeding expectations and fostering Hope the second largest economy in the world could stabilize after more than two years of slowing growth.</P><br /><P>Orbitz worldwide Inc (OWW.N), online travel agency, reported higher than expected quarterly earnings, as it sold more hotel and vacation packages and forecast annual earnings above analysts ' estimates.</P><br /><P>Priceline.com Inc. (PCLN.O) and Nvidia Corp. (NVDA.O) is scheduled to report results later Thursday.</P><br /><P>Of the 434 companies in the S P 500 & that reported profits through Wednesday morning Thomson Reuters data showed that 66.8 percent exceeded analysts ' expectations, according to 67 percent beat rate for the last four quarters. In terms of earnings beat estimates, 54.1% more than in the last four quarters, but below an average of 61 percent from 2002</P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-91604142635812219322013-08-08T23:19:00.000-07:002013-08-08T23:19:00.398-07:00Monsoon rains to ease crop worries ebb <P><IMG title="" class="alignleft size-medium wp-image-3990" alt="" src="http://www.nextgendatabase.vacau.com/71f7r.jpg" width="380" height="285"> <P>New Delhi (Reuters)-India monsoon rains had subsided and will likely continue to more measured pace next week, Weather officials said on Thursday, helping the summer crops, which faced the threat of damage from heavy downpours.</P><P>The rains also could pick up in the eastern part of the country, which was lower than the average rainfall to date and requires more water to help finish up planting rice.</P><P>India, one of the world's largest producers and consumers of agricultural commodities, is heavily dependent on annual monsoon for its huge harvest of rice, sugar and cash crops like cotton. So far, the rains in most parts of the country were very severe, when helping seeding early on but unwelcome now when crops are at a delicate stage.</P><P>"The rainfall will ease over the Central, Western and southern next week, but is expected to be heavy in the North-East and parts of Northern India," said d.s. Pai, Chief weather forecaster of the Indian Weather Office.</P><P>Rains were 1% below the average during the week ending August 7, the Weather Bureau data showed. They were 17 percent above normal in the first half of June to September season.</P><P>For distribution of monsoon: link.reuters.com/rab69n</P><P>Weekly schedule of precipitation: link.reuters.com/kac32v</P><P>Monsoons, crucial for 55 percent of Indian agricultural land that has no irrigation, was the heaviest in nearly two decades in the first half of the season with the fastest ever country coverage for almost a month ahead schedule.</P><P>Enough rain may mean higher incomes in rural areas in the second most populous country in the world, improving sales of everything from cars to refrigerators and gold. Finance Minister p. Chidambaram said the monsoon can help agricultural growth and stimulate the economy as a whole.</P><P>Last year, the agricultural sector grew about 1.8 per cent after six States, some of them major manufacturers, hit by a severe drought.</P><P>Now the initial plantings for most of the early planted crops, the rains should ease to give enough sunlight during their stage of growth and allow weeding.</P><P>Monsoon weakened mainly over the Central and southern regions last week, giving the planted crops such as soy, beans and cotton, whose yields were threatened by high levels of soil moisture.</P><P>"The general condition is still pretty good, but there should be continuous rains over the soybeans, pulses and cotton-growing areas of Central and Western India," said j.s. Sandhu, Commissioner of the country farm.</P><P>Sandhu said that rice planting was generally satisfactory, despite lagging in some Eastern States of Bihar and Jharkhand, where rains have not brought enough water in the soil.</P><P>Torrential rains also pushed water levels in the main reservoirs of the country twice last year, 63 percent of capacity.</P><P>(Editing, Joe Uinterbottoma and Patrick Graham)</P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-12191756379321621192013-08-08T22:43:00.000-07:002013-08-08T22:43:00.166-07:00Gorbachev denies false reports of his death after the hacker attack<P><IMG title="" class="alignleft size-medium wp-image-3990" alt="" src="http://www.nextgendatabase.vacau.com/3147r.jpg" width=380 height=285> <br /><P>Washington -Mikhail Gorbachev announced to the world that he was alive and well, after hackers cracked the microblogs Wednesday evening by the news agency and posted false reports of his death.</P><br /><P>"I am alive and well. I understand that some people are trying to use their sites to catch people's attention or fulfill orders some powers of a former Soviet President, 82, said in a statement on the website of the newspaper "Novaya Gazeta".</P><br /><P>He said the hackers "had hoped in vain and Russian profanity used to describe them.</P><br /><P>Gorbachev liked many Russians for what they see as his role in the collapse of the Soviet Union, which was followed by political and economic chaos in the year 1990.</P><br /><P>RIA state news agency removed bogus posts from his Twitter for a few minutes and said it had started an internal investigation and asked for an investigation of the federal security service.</P><br /><P>The representative of the last Soviet President Gorbachev in June had been taken to hospital for tests. Rumors about his health, has spread on the Internet.</P><br /><P>Gorbachev has maintained his interest in politics and criticized Russian President Vladimir Putin return to the Kremlin in the past year.</P><br /><P>Hacked sites include Twitter account RIA's German-language service and its international multimedia news centre.</P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-90686225945746446752013-08-08T22:09:00.000-07:002013-08-08T22:09:00.160-07:00Sharif upset over border killings, calls for peace<P>Headlines : Sharif upset over border killings, calls for peace</P>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-6923376387894133800.post-32120589538260539582013-08-08T21:54:00.000-07:002013-08-08T21:54:00.384-07:00United States launches military communications satellite<P><B>Washington, August 8 the</B> United States Military said that the United States has launched a new military satellite into orbit, the latest from Washington and its Western allies, communications network.</P><br /><P>A Delta 4 rocket, a sixth wideband global Satcom spacecraft (WP) blasted from Cape Canaveral AIR FORCE station in Florida Wednesday at 8: 29 pm It took to the skies and accelerated away high over the Atlantic Ocean, told Xinhua.</P><br /><P>Built by Boeing and paid for by Australia, satellite WGS-5.987 6 kg will join the military communications network, shared by the United States, Australia, Canada, Denmark, Luxembourg, the Netherlands and New Zealand.</P>Unknownnoreply@blogger.com0