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Petroleum Min to seek Cabinet node on reviewing fuel rates
New Delhi, Nov 26 (PTI) The Petroleum Ministry will go to the Cabinet next month seeking a decision on reviewing petrol and diesel prices even though kerosene and LPG continued to be sold at a loss.
"It is true that margins on petrol and diesel have turned positive but there are still huge under recoveries on kerosene and LPG," Petroleum Secretary R S Pandey told the Economic Editors Conference here.
He said fuel retailers -- IOC, BPCL and HPCL -- were making a profit of Rs 8.17 a litre on petrol and Rs 0.65 per litre on diesel, but were losing Rs 21.54 a litre on kerosene and Rs 330.28 per LPG cylinder.
"Overall, there still are under recoveries," he said.
Besides, the three companies in the first half of the current fiscal posted a net loss of Rs 14,431 crore. They will end this year with about Rs 1,10,000 crore revenue loss on fuel sales.
"Therefore, whenever government has to take a view, all these issues will have to be considered. No decision has yet been taken, but we are going to the appropriate committee of the Cabinet within a comprehensive picture for a appropriate decision," he said.
Pandey added Petroleum Minister Murli Deora had stated that a revision in fuel prices was under consideration and a decision will be taken in due course.
"Revision does not necessarily mean a cut in prices. We will have to wait on which products a reduction will be effected, by how much and when," Pandey said.
"Government will have to take a comprehensive view... What government will decide we cannot anticipate today," Pandey added. PTI
CPI(M) attacks UPA, BJP on terrorism
Bikaner, Nov 26 (PTI) Targeting both the ruling UPA and the BJP on terrorism, the CPI(M) today charged the saffron party with leading a "communal" campaign on the issue and the government with being an "utter failure" in dealing with the menace.
"The BJP is leading a communal campaign against terror by linking religion with terrorism," CPI(M) Politburo member Brinda Karat said, making clear that the recent terror attacks, apart from the the economic meltdown, will be focus of the Left front's attack on the government and BJP when the Lok Sabha meets for over a week from December 10.
Coming down heavily on BJP President Rajnath Singh for his statements on arrests in Malegaon case, Karat said that "the BJP is in fact attempting to draw a link between terrorism and religion".
"They are indulging in nakli deshbhakti (pseodu-patriotism)," she told PTI.
"A united approach is required for handling terror and terrorism related issues. It has been an utter failure of the Congress government who could not strengthen the intelligence agencies, ensure proper coordination between state and central agencies or arm our agencies with enough software and hardware to pre-empt such attacks," Karat said The 64-strong Left front MPs are also expected to grill the government on why it reportedly failed to act on the Mumbai ATS report that had indicated involvement of Hindu extremist organisations in the Malegaon and Modasa bomb blasts back in 2006. PTI
Pietersen slams ton, England set India 271 to win
Cuttack, Nov 26 (PTI) Kevin Pietersen led from the front and slammed an unbeaten 111 as England posted 270 for four wickets in the fifth one dayer against India here today.
Put into bat, England sent Alastair Cook (11) to open the innings with Ravi Bopara (24) but the opening stand yielded only 33.
Coming at number three, Pietersen engaged himself in two crucial partnerships with Paul Collingwood (40) and Owais Shah (66 not out) to steady the ship and steer England to a respectable total.
Pietersen's 128-ball 111 -- his seventh ODI ton -- was studded with 10 boundaries and a six, while Shah's unbeaten 66 came off 57 balls with nine fours in it.
They stitched together a 112-run stand for the unconquered fifth wicket.
For India, Zaheer Khan grabbed two wickets conceding 60 runs in his 10 overs.
For the visitors, Andrew Flintoff proved a huge let down today, falling to Ishant Sharma for a third ball duck.
Even a change in the opening combination could not do the trick for England and both Cook and Bopara survived a couple of lbw decisions.
Playing his first match of the series, Cook became Zaheer's first victim in the sixth over and Sachin Tendulkar, at first slip, took a waist-high catch to execute the dismissal. PTI
England score 270 for four in 5th one-dayer
Cuttack, Nov 26 (PTI) England scored 270for four in the fifth cricket one-dayer against India heretoday. Brief scores: England: 270 for four in 50 overs (Kevin Pietersen 111not out, Owais Shah 66 not out, Paul Collingwood 40, ZaheerKhan 2/60, Harbhajan Singh 1/47). PTI
Siege of Bangkok airport on; army chief demands fresh election
Bangkok, Nov 26 (PTI) A political storm appeared imminent in crisis-ridden Thailand today with the country's army chief asking the premier to call new elections to end the deadlock triggered by the occupation of the main international airport here by thousands of yellow-shirted anti-government protesters.
The Suvarnabhumi airport temporarily suspended operations with all flights cancelled after armed protesters stormed the complex last night and briefly occupied the control tower leaving thousands of travellers, including Indians, stranded.
Prime Minister Somchai Wongsawat, who landed at a military base in northern Thailand after attending the APEC summit in Peru due to the siege of the capital's airport, was yet to react to General Anupong Paochinda's remarks.
The army commander also called on protesters to vacate the Suvarnabhumi airport, but the appeal went unheeded.
Protest leader Suriyasai Katasila said the People's Alliance for Democracy, which is running a four-month-old campaign to topple Wongsawat's government, would maintain its occupation until it could discuss the matter.
"We will send him (the premier) a letter to inform that he must dissolve the house and call new elections," General Paojinda told reporters after a meeting of top government officials, think-tank members, economists and security officials to take stock of the situation.
The army chief hastened to add that he was neither trying to stage a "coup" nor "pressuring" the government.
"This is not a coup," he said. "The government still has full authority. These points are the way to solve the problem which has plunged the country into a deep crisis." "As army chief, if I launch a coup the problems would be solved once and for all. But there would be a lot of consequences including the international reaction," he said. PTI
Economic downturn may hit hard Indians in UK: IWA
London, Nov 26 (PTI) There are "grave implications" of the current economic downturn for 1.5 million people of Indian origin working and living in Britain, according to the Indian Workers Association (IWA).
The IWA cautioned that as in the past, rising unemployment and economic hardships may lead to people directing their anger against migrants, including those who have roots in India.
"Repercussions of this crisis could have grave implications for the migrant population, including the 1.5 million people of Indian origin living in Britain," IWA secretary general Harsev Bains told PTI.
Bains said that according to a recent memo from the Home Office, a rise in anti-immigrant sentiment and ethnic tension was being anticipated in the near future.
"The hardships of the 1930s had turned some Britons against foreigners with the rise of fascism and the cyclic recession of the 1980s gave way to race riots, he said.
"With the opening up of European borders immigration has increased dramatically and with it the electoral base of the parties of the far right.
The IWA, one of the oldest ethnic organisations in Britain, was set up in 1938 to further the cause of India's independence. Over the years, it has been in the forefront of several anti-racism struggles.
The IWA was set up in Coventry but it was the arrival of immigrants from Punjab during the 1950s that led to its expansion all over the UK. PTI
Sensex gains 331 pts; ICICI Bank surges
Mumbai, Nov 26 (PTI) Hectic buying by funds helped the Bombay Stock Exchange benchmark Sensex today regain the 9,000 level at close after six trading sessions.
The bellwether index climbed 331.19 points at 9,026.72 in highly volatile trade after a promising start. Banking shares were the clear winners, with ICIC Bank and HDFC Bank shooting up by 9.55 per cent and 8.63 per cent respectively.
Marketmen said buying activity picked up in last one- hour trading as major market players covered their long pending positions ahead of tomorrow's settlement in the derivatives segment.
They said the rise in Sensex today is significant considering the cautious approach of investors ahead of weekly inflation data which will be released tomorrow.
Sensex had slipped below 9,000 level on November 17 after a series of relentless selling by FIIs on fears global economic turmoil getting prolonged after more countries in Europe and Japan joined the list of nations in economic recession.
The broader index Nifty on National Stock Exchange index also rose by 98.25 points at 2,752.25.
Banking sector index gained 5.96 per cent at 4,625.23, Brokers said banking share were over sold in the past since the financial turmoil emerged in the US.
ICICI Bank shot up by 9.55 per cent at Rs 350.50, HDFC Bank by 8.63 per cent at Rs 907.20, Axis Bank by 6.05 per cent at 405.05 and State Bank of India by 2.99 per cent at Rs 1104.25. PTI
Air India, Jet flights diverted from Bangkok due to protests
New Delhi, Nov 25 (PTI) Four flights of Indian carriers to Bangkok were diverted today as Thai anti-government protestors stormed the Suvarnabhumi International Airport disrupting flight operations there.
Two Air India flights to Bangkok, one from Delhi (IC-853) and another from Mumbai (IC-693), were diverted and landed at Utapao airport, about 90 nautical miles off Bangkok.
An Air India spokesperson said the passengers were then transferred by road to Bangkok.
Jet Airways flights from the two cities to Bangkok, 9W-064 and 9W-062, were, however, diverted back to Kolkata, from where they returned to their originating points of Delhi and Mumbai, an airline spokesperson said.
Outbound flights at the Bangkok airport were also affected since last night as hundreds of demonstrators -- some masked and armed with metal rods -- broke through police lines and spilled into the passenger terminal, reports said.
Using trucks and cars, anti-government demonstrators cut off highway access to the airport, the transportation hub for millions of tourists who visit the country each year, the reports added. PTI
Banking system safe; will able to tide over crisis: Ahluwalia
New Delhi, Nov 25 (PTI) Deputy Chairman of Planning Commission Montek Singh Ahluwalia has assured the Air Force personnel that the banking system is safe and the economy, which is in good state, will be able to withstand the impact of global financial turmoil.
"Indian economy is on a sound footing and should be able to absorb the shock of economic slow down and recession all over," he said while addressing the senior Indian Air Force (IAF) commanders from the Western Air Command (WAC) here yesterday.
Giving an insight to the Commanders in light of the economic turmoil, Ahluwalia said the country should not worry as India's banking and economic institutions were strong.
"The in-built mechanism of our banking and economic system is strong and no one should get unduly worried," he said.
Ahluwalia told the IAF officers that the government was taking all measures to ensure stability in the economy.
"Government has taken all possible corrective measures to ensure that our economy remains stable and the effect of slow down is minimised," he added.
On the inaugural day of the conference, WAC chief Air Marshal P K Barbora had also discussed the global economic scenario and asked his Commanders to heighten the vigil in view of the increasing instability in the neighbourhood due to the impact of the meltdown.
"The world economy is in a turmoil posing new challenges to our country. Instability already exists in our neighbourhood. Hence, we need to be more vigilant than ever before," Barbora said. PTI
Oliver not sure about takers for his latest film in India
Panaji, Nov 25 (PTI) Swiss filmmaker Oliver Paulus, whose "Tandoori Love" was premiered IFFI admits his Bollywood-inspired love story featuring actor Vijay Raaz as the protagonist may not find buyers in Indian market where commercial stars dominate.
"A cook essentially belongs to the lower strata of society and a star like Salman Khan and John Abraham who look like Italian models would not suit the character of an Indian cook working in a Swiss resturant and a film crew shooting in Switzerland," he said.
However, western audiences will have a different approach to see the film because Vijay Raaz is not just a good actor but fits the character of a cook.
More than stars, the film is about seduction of food, the filmmaker said. "I hope there is a chance for releasing the film in India. May be, it can get theatres only in the metros where people are used to English films. But my movie has five Hindi songs as well," he said adding he wants at least the music to be launched here.
Oliver said the market premiere of the film will take place at the Berlin film festival in February next year.
"Then we can discuss the overseas release. We are targetting Australia, Europe, Britain, US where Indians live in large numbers," he said. PTI
OSO controversy: Shah Rukh, Farah summoned to present in court
Mumbai, Nov 25 (PTI) Bollywood 'badshah' Shah Rukh Khan, his wife Gauri and filmmaker Farah Khan were today issued notice in connection with an application moved by veteran actor Manoj Kumar and were asked to be present in the court on February 24.
A metropolitan magistrate issued the notice in connection with the defamation suit filed by Manoj Kumar against the makers of the film "Om Shanti Om", advocate Ashok Sarogi appearing for Kumar told PTI.
Kumar had objected to a character in the film who bore a resemblance to him and was shown being beaten up by guards when he went to attend a movie premiere.
Kumar had said that the portrayal had caused immense damage to his reputation and lowered his image among his fans. He has demanded a rupee in compensation from the makers of "Om Shanti Om" and said that the scenes he had taken offence to should be deleted from its CDs and DVDs.
Shah Rukh played the male lead in the film which was produced by Gauri and directed by Farah.
The court had last month issued summons to the trio, directing them to remain present today. However, when they failed to appear today, the court issued notices. PTI
Public libraries are passe, online portals catching up
Sayantani De
New Delhi, Nov 26 (PTI) Gone are the days when serpentine queues, bespectacled librarian and shabby interiors were the prelude to a reading experience. The computer-savvy bibliophiles of the capital have some reasons to cheer as the city is catching up fast with the latest trend of online libraries.
Though only two Delhi-based web portals currently offer the avid book lovers a chance to romance with their favourite characters, the idea is fast gaining a strong foothold fast, according to owners.
"We have more than 500 members and stock of over 10,000 books. On an average, we deal with 10 to 15 books per day, which is expected to increase in future," Nidhi Verma of www.Bookmeabook.Com, which celebrated its first anniversary in October this year, told PTI.
At a time when public libraries are lacking good stocks to attract readers, this new medium has the potential to make up the gap with lucrative collection and easy availability, the owners believe.
"Most of the libraries in Delhi don't have a good stock. So if you are searching for a book, more often than not you wont find them, even in the Delhi Public Library," Arti Jain, one of the two founder members of www.Friendsofbooks.Com points out.
"The market is quite vast and there is a lot of room to create your own set of readers," she adds.
Officials of public libraries too admit that emergence of web-based bookshelves have taken the wind away from their sails, despite several revamp measures. PTI
Soothsayers popular with Gen Next
Ruby Nanda
New Delhi, Nov 25 (PTI) They maybe smart suave new jetsetters but the modern youth are still facinated by the age old art of astrology, tarot reading, numerology more then ever.
"A lot of young people come to me. Today's youth is ambitious they want everything very fast. They do not want any problems in their life. We never say that there is any replacement for hard work but minor changes can bring you better luck", says Niraj Mancchanda, a numerologist from Mumbai.
The new-age soothsayers are popular with the young with a desire to get ahead fast in life .
"People come to correct their names so that they vibrate with positive vibes for good luck", says Mancchanda.
Come marriage season and event he educated and the illiterate make a beeline to astrologers seeking their advice.
"Young people want it both ways; they want to marry the person they love yet not have any problems. So they come to consult me, so that there are no problems in the future," said Prem Sharma, a popular astrologer.
A visit to a palmist, numerologist, tarot card reader or astrologer has become quite a fashion statement now-a-days.
T has become quite a thing to have theme parties or a tarot reader in a party, says Nandita, 23, a Public Relations executive.
"My friend a top government official is going through a bad phase in her married life, she consulted a tarot reader whom she claims told her every thing correctly," says Kabita "This has always been there for centuries in India, it is much more widely accepted because of insecurity and unsurety in the modern world. Any individual cannot survive in a condition of ambiguity," says senior consultant, Fortis hospital Clinical Psychologist Vandana Prakash. PTI
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Sensex: 9026.72, +331.19
The sensex closed at 9026.72, up 331.19
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1 U.S. $ = 49.400 INR
1 Japanese Yen = 0.5193 INR
1 British Pound = 75.495 INR
1 Canadian $ = 40.083 INR
1 Singapore $ = 32.676 INR
1 UAE Dirham = 13.449 INR
1 Saudi Arabian Riyal = 13.191 INR
1 Euro = 63.874 INR
1 Qatar Rial = 13.565 INR
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