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Headlines
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News:
Committee probing Kargil conflict to submit report by Dec 15
Sharif set for more trouble as co-accused turns approver
Kumaramangalam for sale of NTPC units to spur pvt investment
ICICI to set aside over Rs 12,000 crore for infrastructure
Doctors' strike
Betting racket
"Series not about just 2 players," says Tendulkar
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Markets:
BSE Sensex gains 49.80 points
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Forex, Metals and
Weather below
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News
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Committee probing Kargil conflict to submit report by Dec 15
New Delhi,Wednesday, November 24, 1999: The high-level
committee, probing possible intelligence failure and other
events leading to the Kargil conflict, will submit its
report to the government by December 15, its chairman
K Subrahmanyam has said.
"We have covered all areas in light of the terms of
reference and that is all events leading to the Kargil
intrusions," Subrahmanyam said after meeting Prime Minister
Atal Bihari Vajpayee on Nov 23.
The four-member committee examined "everybody concerned".
They included ministers, officers of the armed forces and
senior government officials who were involved with the
events at that time.
"We have met a large number of people who were involved in
all these issues at various places. You will have to wait
and see," he said, adding "we will submit the report very
shortly .... it may be December 15 or even before that".
While declining to reveal details of the committee's
findings so far, Subrahmanyam said he discussed with the
Prime Minister "whatever happened at that time".
Official sources said the report of the committee, which
was also examining possible failure of intelligence leading
to the Kargil conflict, was "in its final stages" and would
be submitted to the Prime Minister. The committee had
visited Kargil and Srinagar couple of times as part of
their investigations.
Besides Subrahmanyam, other members of the committee are
Gen (retd) K K Hazari, Satish Chandra and B G Verghese.
Top
Sharif set for more trouble as co-accused turns approver
Islamabad,Wednesday, November 24, 1999: Pakistan's deposed
Premier Nawaz Sharif appeared to be heading for more
trouble with a co-accused turning approver in the plane
hijacking case.
He was meanwhile, produced before a Karachi magistrate for
the second time today to hear prosecution witnesses record
their statements.
There were also reports suggesting that the police had
expanded its investigations by bringing more people within
the purview of the case.
Former Director General of Civil Aviation Authority
Aminullah Choudhury, who was among the four accused,
besides Sharif, has turned approver and recorded a
confessional statement on the events of October 12, media
reports here said quoting court officials.
"He (Choudhury) has confessed that he was ordered by the
former Premier Nawaz Sharif to not to let the plane
(carrying army chief Pervez Musharraf and 200 other
passengers from Colombo on October 12) to land (at Karachi
airport) in a telephone conversation," a court official was
quoted as saying.
"He is now the principal approver in the case and will be a
star witness," the official said.
Sharif and four others have been charged with endangering
the lives of the army chief and 200 other passengers by
disallowing their plane to land even when it had only seven
minutes of fuel left.
Top
Kumaramangalam for sale of NTPC units to spur pvt investment
New Delhi,Wednesday, November 24, 1999: Power Minister P R
Kumaramangalam today favoured selling of some of the units
of National Thermal Power Corporation (NTPC) close on the
heels of the announcement that NTPC would buy the entire
government equity of National Hydro Power Corporation (NHPC)
for Rs.4,500 crore.
"There is a proposal for disinvesting in central power
utilities including selling off certain power stations of
NTPC to the private sector to increase their participation,"
Kumaramangalam said addressing a CII seminar on Indo-US
relations.
NTPC recently appointed ICICI to suggest various options
for disinvestment including selling of units, buying back
of government equity, cross-holding and sale of government
equity directly in the market.
NTPC sources, however, said that finalisation of the deal
to buy NHPC would take about a year while indicating that
any other option would be put on hold till then.
Kumaramangalam said selling of the assets of the corporation
would help spur private investment in the power sector,
which would miss the Ninth Plan capacity addition target of
40,000 mw mainly due to failure of private players to come
up with projects.
On NTPC's move in buying out the entire government stake in
NHPC, approved in-principle, he said, however a formal
approval from the cabinet would be needed.
Top
ICICI to set aside over Rs 12,000 crore for infrastructure
New Delhi,Wednesday, November 24, 1999: Financial power
house, ICICI Ltd plans to set aside over Rs 12,000 crore
for the infrastructure sector in the next fiscal year, its
chief executive officer K V Kamath said.
"ICICI would be extending about 35 per cent of its loans to
the infrastructure sector from its total loan sanctions",
Kamath said.
The financial institution has sanctioned the same percentage
of its total loan portfolio to the core sector in the
current financial year also, he said.
Last year ICICI had sanctioned loans to the tune of
Rs 34,219.6 crore and disbursed Rs 19,225.1 crore. The
company had posted a gross profit of Rs 761.03 crore in the
first half of 1999-2000.
About ICICI's expansion plans in the new year, Kamath said
"the company wants to consolidate its position first".
Kamath said ICICI would continue to fund infotech companies
aggresively through its venture capital arm - ICICI Venture
- the first of its kind in India.
The venture capital arm has sanctioned Rs 9.6 crore to the
sunrise industry.
Top
Doctors' strike
Mumbai : The indefinite strike called by the Maharashtra
Association for Resident Doctors entered the second day
even as the state government appealed to the medicos to
come forward for a dialogue.
Top
Betting racket
Mumbai : Mumbai police claims to have unearthed a cricket
betting racket and arrested a bookie from the western
suburbs of Mumbai. Cops from the anti-extortion cell
swooped on the residence of Girish Haridas Shah and seized
two imported telephone sets, a colour television set and
Rs 45,000 in cash.
Top
"Series not about just 2 players," says Tendulkar
Brisbane,Wednesday, November 24, 1999: The Indian cricket
team arrived here today on a 76-day tour of Australia amid
expectations of renewed confrontation between captain
Sachin Tendulkar and Aussie spin wizard Shane Warne.
The Indian captain, however, put the tour in perspective,
saying "the series is not just about two players." "There
are other good bowlers in the Australian side besieds Shane
as there are other batsmen in the Indian team besides me",
Tendulkar told reporters.
The star batsman, in his second stint as captain, said
"There are other things in my head (than Warne) as I am
sure there must be other things in his mind".
The Indians arrived by a Malaysian airlines flight after a
six-hour stopover in Kuala Lumpur.
Tendulkar said his back was okay but added "there is a
larger responsibility on me than solely my batting."
Looking forward to the tour engagements, which include
three Test matches and a triangular one-day series also
involving Pakistan, coach Kapil Dev said "I have no doubt,
if the boys play to their potential, we will be a threat."
"We have a fair bit of talent and I expect batsmen like
Saurav Ganguly, Rahul Dravid and Sachin Tendulkar to do
well since they are strokemakers and these are wickets
where the ball comes on to the bat," Kapil said.
Top
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Markets
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BSE Sensex gains 49.80 points
Mumbai, November 24 : The Bombay Stock Exchange (BSE)
Sensitive index closed at 4686.11 gaining 49.80 points.
Top
Top
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Forex
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1 DMark = 22.64023 INR
1 FFranc = 6.750365 INR
1 U.K. Pound = 70.03146 INR
1 US $ = 43.39000 INR
1 Yen = 0.415732 INR
1 Singapore $ = 26.04 INR
1 UAE Dirham = 11.81 INR
1 Saudi Arabian Riyal = 11.57 INR |
Metals
| Gold
Mumbai (Rs/10 gm) 4610.00 -10.00
London ($/Oz) 295.00 0.90
Silver
Mumbai (Rs/kg) 8030.00 20.00
London ($/oz) 5.16 0.01 |
Weather
|
Temperature: 86 F / 30 C
HeatIndex: 87 F / 31 C
Humidity: 48%
Dewpoint: 64 F / 18 C
Wind
West at 7 mph / 11.3 km/h
Pressure: 29.80 in / 1009 hPa
Conditions
Smoke
Tonight: Low: 73 F / 23 C Scattered Clouds
Thursday: High: 91 F / 33 C Scattered Clouds
Thursday Night: Low: 75 F / 24 C Partly Cloudy
Friday: High: 93 F / 34 C Scattered Clouds
Friday Night: Low: 75 F / 24 C Clear
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