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PM reviews economy; fresh measures likely
New Delhi, Nov 17 (PTI) Prime Minister Manmohan Singh is understood to have considered fresh measures with his key Cabinet ministers and the RBI Governor to limit the impact of the global financial crisis on the Indian economy.
The proposals, including fiscal and monetary support to exporters facing demand crunch in the developed world, were considered by a committee chaired by the Prime Minister.
Finance Minister P Chidambaram, Commerce and Industry Minister Kamal Nath, Planning Commission Deputy Chairman Montek Singh Ahluwalia and RBI Governor D Subbarao attended the meeting of the committee, constituted recently to find a way out of the global turmoil for the Indian economy.
Earlier in the day, Nath said the government is working on a fiscal package for exporters and reviewing the target of USD 200 billion for this fiscal.
"There is a slowdown in the economies in the western world; so there is bound to be slowdown in exports. The Prime Minister's Committee (set up to handle the global crisis) will review this. We are looking at various measures that can help sustain exports," Nath said at the India Economic Summit.
Concerned at the spill-over from the turmoil in India's two biggest markets -- the US and Europe -- the Commerce Minister said, "I am reviewing it to see whether our target will be met or not. Till now, we are on track; but the next five months will determine whether targets (will be met)." PTI
55 per cent turnout in first phase of J-K polls
Srinagar/Leh, Nov 17 (PTI) Braving freezing temperatures and ignoring separatists' boycott call, Voters came out in large numbers in some towns with an average 55 per cent turnout recorded in the first phase of the Assembly elections in Jammu and Kashmir held amid unprecedented security.
The turnout was moderate to heavy and voting passed off peacefully except for stray incidents of violence and protests amid threats of militants disrupting the polls which was held in a curfew-like situation in 10 constituencies spread over four districts of Bandipora, Poonch, Leh and Kargil. Polling in the border state has been staggered over seven phases lasting up to December 24.
Around 55 per cent polling was registered in the 10 constituencies, Chief electoral officer B R Sharma told reporters in Srinagar.
Sharma said Gurez constituency in the once terrorist-infested Bandipora district recorded the highest voting-- 74 per cent-- followed by Mendhar (65), Poonch (64), Surankote (58), Kargil (57), Nobra (55), Leh (53), Zanskar (48) and Bandipora and Sonawari (42 each).
Srinagar, Bandipora and other towns were almost totally locked down, as thousands of troops were out in force to prevent anti-election rallies. An estimated six lakh voters were eligible to vote in the first phase.
At least seven persons including a woman were injured as police fired a few teargas shells and used batons to disperse people protesting against holding of assembly elections in Bandipora district, official sources said.
The separatist co-ordination committee had given a call for 'Jehan election waha challo' (march to where elections are). But the march to Bandipora, 65 km north of Srinagar town, was foiled by security forces. PTI
MiG-27 crashes in North Bengal; pilot and co-pilot safe
Siliguri, Nov 17 (PTI) A MiG-27 fighter aircraft crashed today near Alipurduar in West Bengal minutes after its take-off from Hasimara airbase in North Bengal, but the pilot and the co-pilot ejected safely.
Additional superintendent of police, Alipurduar, Sabyasachi Mishra said the aircraft crashed at Nararthali area in Alipurduar at 12.30 pm with the debris hitting a 'kutcha' house setting it on fire.
The occupants of the house were working in the fields at the time.
The debris of the fighter jet was scattered over a radius of 2 km.
A search was being made for the aircraft's black box, Mishra said.
This was the third MiG to crash in the Dooars region of North Bengal this year. PTI
Judicial custody of Sadhvi, 7 other accused extended till Nov 29
Nashik, Nov 17 (PTI) The judicial remand of Sadhvi Pragya Thakur Singh, suspected key conspirator, and seven other accused in the Malegaon blast case was today extended till November 29 by a local court which rejected Gujarat police's plea for interrogation of nine accused. The ATS, which produced the eight arrested persons in the case before the jam-packed court of Additional Judge H K Ganatra, sought extension of their judicial remand stating that they needed to be further questioned.
Special counsel for ATS Ajay Misar said since investigation into the blast was still on, the judicial remand of the accused should be extended.
The Gujarat police represented by Deputy Superintendent of Police K K Mysorewala sought the court's permission for interrogation of nine of the ten accused, but permission was not granted.
Sadhvi Pragya's lawyer filed an application before the court alleging that the ATS had subjected her to acute mental and physical torture.
The sadhvi asked the court to provide her the Hindi translation of the submission made by her lawyers, which was in English, as she could not understand it. "Mujhe maloom nahin mera kasoor kya hai (I do not know what is my crime)," she told the court.
The sadhvi, Abhinav Bharart member Samir Kulkarni and former Army officer Ramesh Upadhyay, along with five other accused, were produced amid high security.
Pragya was arrested by the Maharashtra ATS from Surat in Gujarat for her alleged role in the Malegaon Blast which killed six and injured over 80.PTI
Ganguly to turn out for Bengal in Ranji tie against Vidarbha
Kolkata, Nov 17 (PTI) Giving in to desperate requests from the Cricket Association of Bengal, former India captain Sourav Ganguly will return to cricket to represent Bengal, who are languishing in the Ranji Trophy Plate League.
Ganguly today conveyed his decision to don Bengal colours in their last Ranji Trophy Plate League encounter against Vidarbha from December 12-15 in Nagpur, where he played his swansong Test.
Should Bengal make the knock-out stage, the left-hander will continue playing for his home state in his effort to take the team to Super League again.
Following a discussion with CAB joint-secretary Arun Mitra on the sidelines of Bengal's Ranji Trophy Plate Group match against Services at Eden Gardens, Ganguly showed his keenness to play for the state.
"He was to come and watch the Day One's proceedings but he caught up with some work and could not come yesterday. He wanted to talk besides cheering the team on... I asked him to come today and he turned up during lunch and confirmed his decision to play for Bengal," Mitra told reporters.
"We had requested him repeatedly to play for Bengal and, having seen the proceedings today with Bengal taking a huge lead, Ganguly said the team is playing very well. 'I don't think I should come in the very next match. Give me some time and I will turn up for Bengal from the Vidarbha match onwards,' Ganguly told me today," Mitra added.
In that case, the CAB felicitation, slated on December 14, will be postponed again after it was rescheduled from Dec 7.
"He asked us to postpone the felicitation as playing for his state was more important. We will discuss about a fresh date later," Mitra said. PTI
No immediate retirement plans: Bhutia
Gangtok, Nov 17 (PTI) India football team captain Bhaichung Bhutia today dismissed speculations with regard to his retirement plans in the near future and said that he intends to carry on with the game as long as his body permits.
"I've no plans to retire from the game in the near future... I intend to play as long as my health and physical fitness permits," he told reporters here.
"I will let you people (media) know the day I decide to retire from the game," the 33-year-old national football team captain said.
Asked whether he has set any targets before hanging his boots, Bhutia, who hails from Sikkim, replied in the negative.
Bhutia, though, once again raised his voice for the development of football at the grassroots level.
"There should be a structured system in place at the grassroots level throughout the country for the promotion of football. This will bring utmost satisfaction to me in the years to come," he said.
Bhutia, who was here to promote the Nike Manchester United Premier Cup for under-15 boys, said he would also seek to give something back to the game which has brought him stardom and said he would like to set up a football academy for budding talents in the north-eastern state.
"I will consider a proposal for setting up a football academy in any of the north-eastern states provided that a 40-acre land is made available by the willing state," he said. PTI
Match lost but KP says England have improved considerably
Indore, Nov 17 (PTI) England skipper Kevin Pietersen today put on a brave face after the second straight loss to India here, saying that even in defeat his team's performance was considerably better than the huge loss it suffered in the series-opener at Rajkot three days ago.
"We certainly played good cricket today and were in the game before losing it. We were totally out of the first game. I see it as an improvement," Pietersen said after his team slumped to a 54-run defeat here and are trailing India 0-2.
Pietersen also said that if his team can win the next couple of games by regrouping well they could still clinch the rubber.
"We just want to be competitive by winning the next couple of games. Then we can get close to the series," he said.
Pietersen agreed that his team had let India off the hook when the hosts were three wickets down for 29, but pointed out that Yuvraj Singh had once again batted supremely well to take the match away.
"We definitely failed to capitalise on it (29-3), but Yuvraj is a game breaker and it is difficult to get him out when he's playing like this. I would not have liked to change the line-up," he said when asked whether his team missed a couple of spinners. PTI
Army seizes more LTTE areas in Lankan offensive
T V Sriram
Colombo, Nov 17 (PTI) Advancing Sri Lankan troops today made further inroads into tiger strongholds capturing the strategic town of Mankulam just adjacent to their prized goal of Kilinochchi as reports said a worried LTTE was sending its top commanders to the battlefront.
Government troops backed by fighter jets also seized Kumalamunai near the other strong LTTE base of Mulaitivu, a military spokesman said.
However, the tigers claimed they had beaten back an attempt by Lankan troops to breach the new LTTE defence line at Muhamalai in the Jaffna Peninsula killing 20 soldiers.
Confirming the capture of Mankulam, a military spokesman said that with this the vital supply lines of the beleaguered LTTE cadres inside the Kilinochchi town had been snapped.
With the capture of the new town, the Sri Lankan forces have recaptured three strategic towns which have been under Tiger sway for over long.
Apparently, stuck by recent spate of reverses, the Tigers according to sources in the rebel-held areas have sent experienced and senior commanders to lead their forces in defending areas still held by them.
Some of the top commanders identified as, Jerry, Muhundan, Kadalparidi, Puhalendi and Sendeer are now assisting LTTE fighters in the Northern battlefront.
Sri Lankan infantry's relentless push deep into the tiger areas is being assisted by heavy carpet bombing by air Force Kfir fighter and MI-24 gunships. PTI
Obama quits Senate, starts building core team
Washington, Nov 17 (PTI) "Ending one journey to begin another," President-elect Barack Obama today officially quit the US Senate to concentrate on assembling his core team that will serve him in his historic journey to the White House.
By resigning from the Senate, the 47-year-old first-time Democratic Senator from Illinois, who defeated his Republican rival John McCain in the November 4 presidential election, has removed himself from any official role in the lame-duck session of Congress that will convene this week.
Obama announced his resignation from the Senate in a letter published in Illinois newspapers, telling his constituents, "I will never forget, and will forever be grateful, to the men and women of this great state who made my life in public service possible." Observing that he is "ending one journey to begin another," Obama said that he is stepping down "to prepare for the responsibilities I will assume as our nation's next president." Obama will be sworn-in as the 44th President of the United States on January 20, 2009.
Illinois Governor Rod Blagojevich has said he will appoint a replacement senator by the end of the year.
Meanwhile, Obama has also laid more groundwork for the start of his administration by deciding on additional members of his senior staff, including a White House counsel, as he prepared to meet with Senator McCain at his transition office in downtown Chicago. PTI
Space shuttle Endeavour docks with space station
New York, Nov 17 (PTI) The American space shuttle Endeavour, carrying Leonardo logistic module with over 14,000 pounds of cargo, today successfully docked with the International Space Station.
Endeavour Commander Chris Ferguson guided the shuttle to a docking with the station as the two spacecraft flew about 340 kilometres above the northern border of India, near China.
Docking was confirmed at 5:01 pm (0331 IST today), three minutes earlier than scheduled, NASA television said.
Before closing the final 600 feet to the station, Ferguson flew the shuttle through a slow backflip, allowing the station's Expedition 18 Commander Mike Fincke and Flight Engineer Greg Chamitoff to take photos that ground experts will review to assess the health of Endeavour's heat shield.
The shuttle and station crews opened hatches and greeted one another, beginning more than a week of joint operations between the two crews.
The crews will collaborate on the delivery of the key life support and habitability systems that will enable long-term, self-sustaining station operations for a six-person resident crew. Currently, facilities are available of three permanent crew members.
The crews also will conduct four spacewalks to service and lubricate the station's two Solar Alpha Rotary Joints that allow its solar arrays to track the sun.
Endeavour was launched on Friday from Cape Canaveral, Florida, on a 15-day mission to expand the living quarters of the orbiting space station and equip it with a new ovens, a refrigerator and a new toilet. PTI
Sensex sheds 94 points as global summit disappoints investors
Mumbai, Nov 17 (PTI) Markets closed down today with benchmark Sensex dropping over 90 points after slipping below 9,000 level on alternate bouts of buying and selling, showing that the Summit of G-20 leaders have failed to bolster investor sentiment here.
In see-saw trade, the BSE 30-share index closed at 9,291.01, a loss of 94.41 points or 1.01 per cent.
National Stock Exchange index Nifty also fell by 10.80 points or 0.38 per cent to close at 2,799.55.
The 30-share Sensex had slipped below 8,000 level at 7,697 points on October 27 last.
After a weak opening, the Sensex traded below 9,000 level before mid-session. With selling pressure intensifying, the bellwether index had lost nearly 428 points to touch the intra-day low of 8,956.68 points.
However, it regained 9,000 level on late buying by domestic funds. Erratic movements in European markets during their early trade also influenced local stocks in late afternoon trade, brokers said.
They said Reserve Bank's fresh measures on Saturday to enhance rupee and forex liquidity, besides reducing risk weights for corporate and commercial real estate loans to boost growth failed to have any desired impact on the market.
Marketmen said investors were cautious as the G-20 Summit on world failed to finalise any specific measures to combat global financial crisis.
At the G-20 Summit on Financial Market and World Economy Prime Minister Manmohan Singh warned the financial meltdown has exploded into a systemic crisis, while world leaders called for a strong regulatory mechanism to bring transparency in financial system and stimulate growth to beat recession. PTI
Markets down, Sensex sheds 94 points
Mumbai, Nov 17 (PTI) In alternate bouts of buying and selling, the Bombay Stock Exchange benchmark Sensex today closed lower by over 90 points after dipping below 9,000 level during the day on selling-spree by funds, showing G-20 leaders pledge to revive economies had no impact on local bourses.
The BSE barometer closed down by 94.41 points at 9,291.01. With selling pressure intensifying, it even plunged by nearly 428 points to touch the intra-day low of 8,956.68 points.
The 30-share Sensex had slipped below 8,000 level at 7,697 points on October 27 last.
The National Stock Exchange index, Nifty, also fell by 10.80 points at 2,799.55.
Brokers said selling pressure intensified with investors forseeing economic outlook deteriorating as Japan joined the list of economies in recession. They said investors were also worried because the leaders of G-20 nations failed to produce concrete measures to tackle the global crisis.
At the G-20 summit on Saturday, Prime Minister Manmohan Singh warned that the financial meltdown has exploded into a systemic crisis, while world leaders called for a strong regulatory mechanism to bring transparency in financial system and stimulate growth to beat recession.
Marketmen said trading sentiment were dampened following rating agency JPMorgan's cutting its forecast for India's economic growth.
Realty sector index suffered the most by losing 5.17 per cent at 1907.51 with all the 14 components led by Sobha Developers and DLF ended in negative zone.
Banking sector index was second worst performer by losing 3.87 per cent at 4956.04. Banking stocks such as ICICI Bank and HDFC Bank led the fall as investors fretted a weakening economy would raise defaults. PTI
Oil PSU employees defer proposed strike from tomorrow
New Delhi, Nov 17 (PTI) Executives of public sector oil companies have deferred their proposed indefinite strike from tomorrow by one week, pending consideration of higher wages for employees in the state-run companies by the Cabinet.
"The Cabinet will meet on November 20 to take up the proposal for higher wages for PSU staff. In view of this, we have deferred the strike by one week," Oil Sector Officers Association (OSOA) President Amit Kumar told PTI here.
The Association had earlier in the day announced that 50,000 officers in 14 oil PSUs would strike work from tomorrow, protesting non-revision of wages that was due from January, 2007.
A Committee of Secretaries have approved higher wages for employees of all public sector units as per the recommendations of the Justice Rao Committee and the proposal is now lying with the Cabinet.
Also, there were divisions within the Association with officers of Hindustan Petroleum Corp (HPCL) deciding to stay away from the proposed agitation. Executives of Oil India and Engineers India too were unlikely to joint the strike.
Amit Kumar did not say when Association proposed to go on indefinite strike next, if the Cabinet did not approve of the proposal this week. "We will let you know," he said.
Oil Minister Murli Deora had appealed to the officers to keep the wider national interest in mind and desist from going on strike as such a move would cripple economy by impacting oil and gas output and fuel supplies.
"Petroleum Ministry and I for one have always supported that PSU employees should be paid wages to stop attrition. We have also recommended to the Department of Public Enterprise for the same. But it (sanctioning higher wages) is not in our hand. There is a process and the process has to be followed," he said. PTI
Govt working on export package; to review USD 200 bn target
New Delhi, Nov 17 (PTI) With India's exports getting dented in the troubled US and European markets, the government today said it is working on a fiscal package for exporters and reviewing the target of USD 200 billion for this fiscal.
"There is a slowdown in the economies in the western world; so there is bound to be slowdown in exports. The Prime Minister's Committee (set up to handle the global crisis) will review this. We are looking at various measures that can help sustain exports," Commerce and Industry Minister Kamal Nath told reporters here at the India Economic Summit.
Concerned at the spill-over from the turmoil in India's two biggest markets -- the US and Europe -- the Commerce Minister said, "I am reviewing it to see whether our target will be met or not. Till now, we are on track; but the next five months will determine whether targets (will be met)." While the Commerce Ministry is pitching for a total tax waiver for exporters, both at the Central and state levels, a decision on this will be taken by the committee chaired by Prime Minister Manmohan Singh. "We are working on the package ... There are many areas that need to be addressed," Nath said.
He said there was a case for refunding taxes and levies to exporters so that they can compete in the world market, marked by price under-cutting by exporters from other countries which back them.
"We are going to see how the level-playing field can be provided to our exporters, which means totally waiving duties and taxes," Nath said. PTI
George Clooney turns retro
London, Nov 17 (PTI) Actor George Clooney has traded his salt'n'pepper hairstyle for a new retro look with light brown hair and new set of moustache.
The 47-year-old actor's new look is for his role as Lyn Cassady in Jon Ronson's paranormal film 'Men Who Stare At Goats', The Dailymail reported.
Based on Jon Ronson's 2004 book of the same name, the film tells the story of a journalist (Ewan McGregor) who meets Lyn Cassady (Clooney).
Cassady claims to be a former member of a secret unit within the US Army called the First Earth Battalion, who employ paranormal powers in their work. The film is due to release in 2010, the paper said.
Star India, Jupiter Entertainment enter into a joint venture
Mumbai, Nov 15 (PTI) Star India and Jupiter Entertainment have entered into a joint venture to bring more south Indian audiences in their net.
The joint venture will be called Star Jupiter. Jupiter Entertainment is owned by Rajiv Chandrashekar.
Under the agreement and subject to regulatory approvals, Star Jupiter will become majority shareholder of Asianet Communications Ltd which currently runs channels in Malyalam (Asianet and Asianet Plus), Kannada (Suvarna), Telugu (Sitara). Star's own Tamil channel "Vijay" will now be called Star Jupiter.
The joint venture is expected to make additional investments towards developing and launching new channels in south India in coming months. PTI
Daniel Craig says no to swimming trunks
London, Nov 15 (PTI) Daniel Craig, whose famous beach shot in Bond film 'Casino Royale' won him many fans across the globe, has no desire to repeat something similar in the upcoming Bond films.
In 'Casino Royale', his debut as Bond, Craig had sent female fans' hearts fluttering when he strode along a beach wearing a costume that showed off his muscular physique.
The actor says he is sick of talking about the shot and he is even more determined to avoid a repeat performance, Contactmusic reported.
Craig says, "I never want to put those things on again. There's an element of nudity in this one, but no swimming trunks." PTI
Russian designer keen to collaborate with Indian designers
Suktara Purkayastha
New Delhi, Nov 16 (PTI) Well-known Russian designer Vyacheslav Zaitsev is impressed by Indian fashion designers' ability to integrate global appeal with native culture in their creations.
"I am keenly looking forward to collaborate with them," he says.
Zaitsev, who was in India to promote his winter collection says Indian fashion designers are very popular in the West.
"Indian designers have successfully showcased their native culture through their dresses. The Indian women designers particularly are very talented," says Zaitsev.
The Russian designer says that in 2009 'Year 2009 India in Russia' he plans to collaborate with Indian designers and organise fashion shows in his country.
He is also keen to work with Indian models. "Models here are very beautiful I will surely work with them" he says.
Questioned about his favourite Indian attire, Zaitsev said he was captivated by the saree. "I saw some Indian women sitting outside Taj Mahal draped in sarees, they looked so beautiful." Though, the designer finds it difficult to drape a saree but has expressed a desire to create a fusion of Indian and Russian garments.
Zaitsev laments the fact that not many Russians are aware about the Indian fashion scene.
Interestingly, Zaitsev is against women wearing jeans or trousers.
"Women today have surpassed men in all spheres. So, they should atleast leave the trousers and jeans for men," Zaitsev says adding that women look good in their natural attires. PTI
Bangla film on Eklavya in fray for IFFI award
) Pallab Bhattacharya
New Delhi, Nov 16 (PTI) The Maharbharta story of expert archer Eklavya's sacrificing his thumb and gifting it to his guru Dronacharya is the story of a movie from Bangladesh which is a contender for an award at the International Film Festival of India starting next week.
Winning an award at the IFFI is nothing new for Abu Sayeed, director of "Rupantor" (Transformation) as he had won the special jury awarda silver peacockat the festival two years ago with his "Nirontor", the story of a call girl struggling to keep afloat her lower middle class family. The non-judgemental work also earned him the award for the best feature film a few months later at the Kerala International film festival.
And now, Sayeed, one of the most acclaimed directors of Bangladesh's art house film movement, is back with "Rupantor" that has entered into competitive sections of the both the Indian festivals.
And why did he choose the Eklavya story from the Mahabharata? Well, as the director says, it is a subject that has been haunting him since he was in school but could find time and money to reproduce it on the celluloid after having made two national award-winning short films and four feature films since beginning his journey in 1988.
"Rupantor", which will be world premiered at the IFFI in Goa, transports the story in the modern context and showing how it prods a young filmmaker into a "new quest". PTI
Global meltdown due to poor leadership: Ex-Disney official
Zafri Mudasser Nofil
New Delhi, Nov 16 (PTI) The global meltdown is a great example of poor leadership on many levels in every part of the world and there is greed and failure by most governments to regulate this sort of thing, according to the father of Disney's leadership strategies.
"Instead of seeing great leadership in the business world we are seeing great greed and a failure by most governments to regulate this sort of thing. It is a real great example of poor leadership on many levels in every part of the world. Leadership failure by all," Lee Cockerell, ex-executive vice president (operations) of Walt Disney World Resort, told PTI.
"It is quite complex and will not be resolved quickly. I am not even sure if any government knows what to do except keep throwing money at the problem and pray it gets fixed somehow," he says.
According to Cockerell, it will affect management strategies dramatically.
"We are going to see most companies taking drastic measures to survive. Many will not be here in the next few years. Every strategy that most companies had a few months ago are useless and will quickly be set aside and replace with drastic cost cutting and layoffs of their workforce." He says no country will get out of this without a lot of pain.
"In the US, all you have to do is go out to a shopping mall and see them empty to know that the consumers are not spending," he says. PTI
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