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[Grapevine] For 19 Oct, 2008



The Mumbai Grapevine Connecting Mumbaikars with Mumbai
(Published by Mumbai-Central.com)


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______News_______

(From various agencies)

EC announces seven-phased assembly polls in J-K
New Delhi, Oct 19 (PTI) Resolving differences within, the Election Commission today announced a seven-phased election in Jammu and Kashmir beginning November 17 till December 24, saying it has taken a "risk" on the issue of participation of political parties in the exercise. Announcing the poll schedule, Chief Election Commissioner N Gopalaswami said that the snow-bound Leh and Kargil regions would go polls in the initial two phases. The polling for the 87-member assembly will be held on November 17, 23, 30, December 7, 13, 17 and 24. Counting of votes will take place on December 28. Against the backdrop of parties and outfits in the Kashmir Valley expressing themselves against polls at this juncture, the CEC said the Commission has taken a "risk". This was in apparent reference to political parties in Kashmir like the PDP which said no to polls and another mainstream party, National Conference (NC) which gave its nod after having voiced initial reservation. On the issue of lack of consensus among the political parties, he said "first you need to ask if political parties are ready. We are not conducting election in a vacuum. To start with there were one no, one yes and one yes-no. After that one no became one yes. So we have two yes and we have taken a risk". To another question whether there was a difference of opinion among the three Commission members on holding polls to the assembly with 87 seats, the CEC said "various issues need to be considered. So each one presents his views which he considers the best. There are three Election Commissioners and at least there may be three opinions". PTI

Cong, BJP welcome EC decision on J&K polls
New Delhi, Oct 19 (PTI) Mainstream political parties -- Congress and BJP -- today welcomed the Election Commission's decision to hold polls in Jammu and Kashmir while regional parties including National Conference gave a guarded response to the democratic process. BJP, which plans to seek benefit out of the recent land controversy of Amarnath shrine board, welcomed the decision of the EC saying the party was "sure that the decision would prove to be a milestone in democratic history of the country and the state of Jammu and Kashmir in specific". BJP President Rajnath Singh said, "...The coalition government of Congress and PDP failed to meet the expectation of the people of state. So we will get the benefit from their failures." Welcoming the decision, Congress spokesperson Shakil Ahmed said the party is "fully prepared for the elections and appeals to the people to vote without any fear". President of National Conference, the main regional party in the state, Omar Abdullah reacted cautiously saying the polls may witness a low turnout but nevertheless the state will see an elected government. "The present dispensation was not able to address to people's problems," Omar said, but added "I still believe that you will have a less than adequate turnout in parts of the Valley. You may not see an enthusiastic elections as one could have seen, if the polls were held in March or April next year." Another regional party, PDP, had summoned its leaders into the house of its patron Mufti Mohammed Sayeed and were busy to formulate the party view. PTI

Australia all out for 268
Mohali, Oct 19 (PTI) Australia were all out for 268 in their first innings of the second cricket Test against India here today. Brief Scores: India 1st innings 469 all out Australia 1st innings 268 all out in 101.4 overs (Michael Hussey 54, Shane Watson 78; Amit Mishra 5/71, Harbhajan 2/60, Ishant Sharma 2/68). PTI

Commonwealth karate meet eyeing more than 30 teams
Chennai, Oct 19 (PTI) The Commonwealth Karate Federation is eyeing minimum participation of 30 countries in the 5th Commonwealth Karate Championship to be held here next year. "In the last edition held in Edinburgh, Scotland, from May 31 to June 1, 20 out of the 53 Commonwealth nations participated and for the next edition we are aiming at over 30 nations," Commonwealth Karate Federation (CKF) President Billy Brennan and General Secretary Brian Noble told a press conference here last night. The two officials, who are in the city to discuss with All India Karate Do Federation (AIKF) officials about the modalities of organising the championship and for inspecting the infrastructure facilities including the venue -- Jawaharlal Nehru Indoor Stadium, said more than 1,500 competitors were expected to take part in the event. Expressing satisfaction with the selection of Chennai as the venue, he said, "We are delighted to be able to support India's bid for hosting the championship. We are committed to bring the best competitors for the event." He said efforts were being made to include karate as a demonstration sport in the 2010 Commonwealth Games to be held in New Delhi. "We know that it is near impossible. But we will try." PTI

LTTE seeking help of Indian leaders to escape defeat:Gotabhaya
T V Sriram Colombo, Oct 19 (PTI) Claiming that the LTTE was on the verge of "defeat" after suffering huge casualties at the hands of Sri Lankan security forces, the government has said that the Tamil tigers are making desperate efforts to rope in Indian leaders to stop the ongoing offensives against them. "It is very clear that the LTTE is at a decisive stage. And no one can stop them getting defeated. So, they are trying their maximum to get Tamil Nadu (leaders) to pressurise the Indian government to pressurise the Sri Lankan government," Gotabhaya Rajapaksa, powerful Defence Secretary and brother of Sri Lankan President Mahinda Rajapaksa, said. "That is what the LTTE want and that is why this sudden pressure is coming. The (Sri Lankan) Government expects this situation as we know there is no other way for the LTTE. Anyway, the LTTE cannot escape facing military offensives now," he told the Sunday Observer. Gotabhaya comment comes a day after Prime Minister Manmohan Singh yesterday asked President Rajapaksa to ensure that Tamils do not get "enmeshed" in the conflict with LTTE and that their rights and safety are upheld. During a telephonic conversation initiated by Rajapaksa, Singh said there could be no military solution to the conflict in the island country and asked the President to start a political process for a peacefully negotiated settlement within the framework of a united Sri Lanka. Rajapaksa also sought reciprocity from India on permitting fishing in each others territorial waters. "For the last three years we have never prosecuted a single Indian fisherman though they are coming to our areas. Though we have arrested and questioned them, they were not subjected to any legal process," he said and alleged that Sri Lankan fishermen have been arrested, prosecuted and detained for over two to three months. PTI

FICCI seeks deeper market under India-Japan trade pact
New Delhi, Oct 19 (PTI) Ahead of Prime Minister Manmohan Singh's visit to Tokyo this week, industry body FICCI has sought immediate tariff elimination by Japan on products of export interest to India. Japan has high tariffs on items like leather, textiles, marine and chemical products, the chamber said. "As a result, India's share in Japan's imports has stagnated at around 0.6 per cent for the last five years. These tariffs need to be eliminated immediately under the India-Japan Comprehensive Economic Partnership Agreement (CEPA)," FICCI Secretary General Amit Mitra said here. Prime Minister would be visiting Tokyo from October 21 and during his stay, the two countries are likely to reach a consensus on the market-opening CEPA which they have been negotiating for the last two years. India's share in Japanese imports is minuscule, ranging from 0.02 to 2.6 per cent, whereas most of the other Asian countries like China, Thailand and Malaysia have an upper edge. Although Japan has zero duty on around 30 per cent of its chemical and pharmaceutical products, its stringent approval and product registration act as a barrier to Indian exports. "India's share in Japan's drugs and pharmaceutical market is insignificant. It is about 0.1 per cent due to non-tariff barriers," Mitra said. PTI

PSUs can revive investor confidence with their IPOs: Assoham
New Delhi, Oct 19 (PTI) IPOs of the public sector units could revive investor confidence, which has taken a beating in wake of the global financial crisis, Chief Financial Officer of Indian companies said in a survey. Majority of the 300 chief financial officers (CFOs), who participated in the Assocham survey said they have confidence in the Indian public sector units (PSUs) equities. "Retail and other investors have lost confidence in stocks for parking their surpluses and the only way out left is that the government encourage PSUs to float initial public offers (IPOs)," the chamber said. Citing an example, the chamber said that way back in 2002, when the domestic corporate market was enduring depressed sentiments in the financial market, Maruti Suzuki came out with IPO and investors regained their confidence. About 175 CFOs said that PSUs like National Hydro Power Corporation and Oil India Ltd have necessary approvals for IPOs but are stuck in their administrative Ministry on the issues of pricing. "CFOs opined that it is the right time for the PSUs to come out with their IPOs as majority of investors are looking for safer investment channels having sovereign guarantee in one way or other," it said. "The government and RBI have been consistently announcing decisions to revive market sentiments to uplift capital market but these have yet to yield the required objectives and therefore the government ought to motivate PSUs to float IPOs," Assocham President Sajjan Jindal said. PTI

Hinduja plans investments in nuclear power plants
London, Oct 19 (PTI) Confident that India can withstand the current global economic downturn, the Hinduja group today said that they were widening the scope of their investments in India to include nuclear power plants in collaboration with foreign partners. The group Chairman S P Hinduja said here that the economic strength of India or any other country should not not be measured by the performance of stock markets. "The Indian stock market is undergoing a correction which would not not impact on the solid economic foundation of the country. India's potentiality, the market size, investment opportunities it offers and the talent and skill of its people remain undiminished," he said in an interview. "In fact, this is the time to avail of investment opportunities in India. We are confident that Prime Minister Manmohan Singh, the architect of free market economy, and Finance Minister P Chidambaram will continue the reform process so that investors face no no hurdles," he said. Besides continuing its investments worth several billion dollars in 10 core sectors such as infrastructure, power, finance and banking, health care and automotive industry, the Hinduja group was now now looking at investing in nuclear power plants against the backdrop of the Indo-US nuclear deal. The group was in discussion with potential partners in nuclear energy, Hinduja said but declined to give further details. PTI

Stop giving prominence to voices that spread hatred: Naseer
Bedika New Delhi, Oct 17 (PTI) Veteran actor Naseeruddin Shahis critical of giving prominence to voices that spread hatredas he emphasises that it is not the view of the majority ofthe community he represents. Shah, who is depicting the liberal face of Islam inthe new venture 'Shoot On Sight' based on the 2005 London tubebombings, also disapproves of the 'theory of prosecution'citing the aftermath of Delhi serial blasts. "I do not subscribe to the theory of persecution thatmany people believe in. One can see that a lot of the coveragethat is done in the media is biased. They give prominance tothe people who spread hatred and portray it as if these arethe feelings of whole community," he says. Talking to PTI ahead of film's release, the actorsays, "I am playing the character of Tariq Ali, a devoutMuslim who represents the modern face of the religion whilethe character of Om Puri propogates another face which istotally different from Tariq's understanding of the religion". The film, which is entirely shot in London anddirected by the critically acclaimed filmmaker Jag MohanMundra, known for making socially relevent films like'Provoked' and 'Bawander,' is releasing in theatres today. The film, which is banned in Pakistan, is a grippingthriller and a family drama that unfolds the turmoil in thelife of a liberal muslim police officer Tariq Ali (NaseerudinShah)at Scotland Yard. PTI

Seventh Asian film fest begins in Mumbai
Mumbai, Oct 16 (PTI) The seventh edition of Asian film festival began here today with Maharashtra Chief Minister Vilasrao Deshmukh making a fervent appeal to Asian filmmakers to explore the megapolis for their cinematic ventures. "Asian countries have witnessed a sea change in terms of socio-political development. Societies in these countries face same concerns and cinema is a reflection of society," Deshmukh said while inaugurating the 8-day festival which began with the screening of Chinese film "Tuya's marriage" at the Y B Chavan centre. Deshmukh said Mumbai is soon emerging as a world class metropolis with well-equipped film studios and trained personnel. He assured more financial assistance to the Asian film foundation which organises the festival. Currently, the state government provides Rs 10 lakh as financial assistance. Deshmukh also appreciated the emerging content-driven cinema which has blurred the divide between commercial and art film. 80 films from 20 countries will be screened at the festival. Films from Korea, Palestine, Egypt, Mongolia, which have never been screened before in India, are the highlights of the festival. Kumar Ketkar, editor of Marathi daily Loksatta, said film as an art was instituted in Maharashtra more than a century ago by Dadasaheb Phalke. "This art has been promoted and encouraged by various institutions and the government should promote and protect this art," he added. PTI

Day-dreaming, for some time not bad, in fact healthy: Experts
Anupam New Delhi, Oct 19 (PTI) Ever got engaged in a fanciful musing of a castle in the air, or a date with Angelina Jolie or Brad Pitt? Daydreaming has long been derided as a lazy and non-productive pastime. But it has also been able to breed many popular artistic careers, like being a composer, novelist or a film-maker, who develop new ideas. "When a person is thinking or fantasizing about his unfulfilled wishes, desires, all that for which he is passionate about, he gets carried away by them and starts day-dreaming," says a well known psychologist Dr Aruna Broota. But, in this fast-pace world, do people have time for day-dreaming? "Yes, they have enough time to day-dream. The fast-pace moving world has not deterred people from day-dreaming," says Dr Roma Kumar, the clinical psychologist at Ganga Ram Hospital. Day-dreaming is a visionary fantasy or a reverie indulged in while awake. A daydreamer gets engaged in a fancy speculation, generally of happy and pleasant moments, hopes or ambitions. While for an observer, the day-dreamer has an expression-less stare to a distance, day-dreaming is very normal, feel experts. "Day-dreaming is completely normal, in fact it is more than normal. It is like trying to think of the happy moments. The person goes back to that time to get more happiness," says Kumar. Kumar however, adds that day-dreaming can be abnormal if it is beyond a limit. "Generally day-dreaming is normal but if it is beyond certain limit and when it makes the person non-functional, it can be an obstacle on the path of progress," she says. PTI

Recession? Designers offer mixed fare on global crunch
New Delhi, Oct 19 (PTI) The cascading effect of the financial crunch felt globally is subtly making its presence felt in the world of Indian fashion too with several local designers choosing to showcase scaled down collections for the next season using muted colours and toning down their elaborate and mostly opulent ramp shows. However, for some designers it is business as usual and they hope to keep the recession blues at bay by fighting back and focussing on roping in more international buyers by aggressively marketing the country's traditional designs and styles. Between themselves the two fashion weeks hosted by rival designer bodies in the capital have totalled over 100 designers presenting cuts, silhouettes, fabrics and prints for the 2009 Spring Summer. For ace designer Tarun Tahiliani the crumbling stock market and its impeding effect on the Indian industry has never taken a backseat in his mind. "If you stop acting, then recession will cause global depression. It's the people who have to fight back and I think fashion is a good way to do so. Simple, fashionable outfits of light shades will surely work," Tarun says. Compatriot Rina Dhaka whose recent offering at the Wills India Lifestyle Fashion Week showcased the richness of 'Bhuj' embroidery work says," There might not be any impact of recession on the Indian fashion industry since the business here is mainly boutique driven." As for international buyers they are already headed for India because of the comparatively cheaper prices and rich variety of clothes present in the county, Dhaka points out. "Our fashion weeks don't stick to one theme. We have a huge variety of themes and styles spanning pret, couture, western and Indian. This is what primarily attracts the foreign buyers," says Dhaka. PTI

Digest of domestic news for the week Oct 11-Oct 17, 2008
Saturday Mumbai: Iconic Bollywood actor Amitabh Bachchan is admitted to Lilavati hospital here after he complains of abdominal pain due to suspected incisional hernia, giving anxious moments to millions of fans on his 66th birthday. Srinagar: Kashmir's first train service is inaugurated by Prime Minister Manmohan Singh, realising a long-cherished dream of the people that saw a decade-long arduous effort overcome challenges posed by inhospitable terrain and weather. Sunday Hyderabad: Andhra Pradesh government orders a CBI inquiry into burning of six persons of a family at a village and a judicial probe into communal violence in a town of Adilabad district. Kochi: Sister Alphonsa, a Catholic nun from Kerala, is elevated as Saint by Pope Benedict XVI at a solemn function at the Vatican, making her the first Indian woman to be canonised. Monday New Delhi: A broad consensus to contain communal discord and violence and to protect minority rights is reached at the meeting of the National Integration Council (NIC) which was dominated by the anti-Christian violence and terrorism. Agra: Four days after he fell into a 150-ft deep borewell, the lifeless body of two-year-old Sonu is pulled out by rescue workers who were hoping against hope to save him while authorities ordered legal action against a contractor and two engineers who allegedly left the pit uncovered. New Delhi: Love and emotions of a couple who brought up a woman's love child for a year took a back seat in a legal battle as a court here ordered handing over of the baby to his biological parents who had given him away fearing social stigma. New Delhi: The Delhi High Court has taken strong exception to the Centre's contention that the court would divide the country if it recognises homosexuals as a minority group. Friday Chennai: Mounting pressure on the Centre on the Sri Lankan Tamil issue, 13 DMK MPs, including seven union ministers, submit their resignation to party patriarch and Tamil Nadu Chief Minister M Karunanidhi. Bangalore/Chennai: India moves a step closer to launch its maiden unmanned moon session when the lunar spacecraft Chandrayaan-I was today mated with the polar rocket which is set to blast off on October 22 from the Sriharikota spaceport. PTI


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Sensex: 9975.35, -606.14

The sensex closed at 9975.35, down 606.14


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______Forex_______

1  U.S. $ = 48.915 INR
1  Japanese Yen  = 0.4814 INR
1  British Pound  = 84.574 INR
1  Canadian $ = 41.453 INR
1  Singapore $ = 33.057 INR
1  UAE Dirham = 13.316 INR
1  Saudi Arabian Riyal = 13.008 INR
1  Euro = 65.617 INR
1  Qatar Rial = 13.436 INR


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