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Headlines
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News:
38 coal miners trapped in Dhanbad
PM hints at more taxes to raise resources for Gujarat
Govt rules out spread of epidemic in Gujarat
Vajpayee expresses gratitude to Pakistan for quake relief
India did not seek assistance from any country: Jaswant
US relaxes ban on sale of chopper parts from UK to India
Putin and Bush hold first talks, vow to build
India extends support to Palestinian homeland
Micro-credit from banks will not be a constraint: Sinha
Rupee opens steady
Indian astrologer who predicted new quake arrested
Myths about quakes
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Markets:
Sensex: 4352.26 (+66.15)
PSU stocks push up Sensex by 66 points
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Forex, Metals and
Weather below
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News
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38 coal miners trapped in Dhanbad
Dhanbad,Friday, February 02, 2001: At least 38 miners were trapped inside a Bagdih colliery today as water gushed in from an adjacent mine in Jharkhand, official sources said here.
The water from the upper seam of Joyrampur colliery entered the seventh seam of Bagdih colliery around noon, the sources told PTI over phone.
Efforts were on to establish contact with the trapped miners.
The sources, however, said so far no communication could be established with the miners as telephones inside the mine were not working.
Arrangements were being made to pump out the water.
Acting CMD Ashok Kumar Mehta, who was in Kolkata, airdashed to Dhanbad in a CIL plane along with senior officers, they added.
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PM hints at more taxes to raise resources for Gujarat
New Delhi,Friday, February 02, 2001: A day after Government decided to impose two per cent additional surcharge on Income and Corporate taxes for rebuilding quake hit Gujarat, Prime Minister Atal Bihari Vajpayee today hinted at a fresh dose of moderate taxes and non-tax measures to mop up resources.
"Two per cent additional surcharge (on Income and Corporate Taxes) is not enough keeping in view the magnitude of the devastation in Gujarat," he told reporters after releasing a weekly journal in Urdu "Secular Qayadat".
Asked if the fresh dose of taxes would be heavy, the Prime Minister said "it will not be so.....we will also have to devise other ways to mobilise resources to carry out the massive reconstruction and rehabilitation work".
The Union Cabinet had last night decided to promulgate an Ordinance to impose two per cent additional surcharge on Income and Corporate Taxes this year to garner Rs.1300 Crore for relief operations.
"This decision has been taken to share the grief of the quake-stricken people of Gujarat," the prime minister said, appealing to people to contribute generously to help the victims.
He, however, declined to elaborate how much fund was needed to put Gujarat back on the rails. "I am not in a position to say how much resources are required for this purpose," he said.
Vajpayee also said Government was formulating measures to ensure safety of buildings in the National Capital to enable them withstand major quakes.
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Govt rules out spread of epidemic in Gujarat
New Delhi,Friday, February 02, 2001: Government today ruled out the possibility of outbreak of epidemic in quake-hit Gujarat but said there were chances of people suffering from gastro- enteritis, which was preventable.
"There is no possibility of an epidemic breaking out since corpses do not spread deadly diseases. However, the authorities are taking no chances," Health Minister C P Thakur told reporters here.
Quoting a 1999 World Health Organisation report on Public Health Consequences of Earthquakes, he said "outbreak of communicable diseases do not usually occur after earthquakes (and after any natural disasters) although the risk of an increasing incidence of sporadic cases (below epidemic threshold) exists."
As preventive measures, Thakur said bleaching powder was being put to large scale use to counter foul smell emanating from bodies as also to prevent diseases from spreading. Huge quantities of insecticides were being sprayed, while people in the affected areas are being given halogen tablets to purify drinking water.
Steps were also being taken to carry out last rites of the dead, the Minister said.
Maintaining that an ecological disturbance has occured in the quake-struck regions, he said that measles vaccine has been despatched in sufficient quantities for inoculation.
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Vajpayee expresses gratitude to Pakistan for quake relief
New Delhi,Friday, February 02, 2001: Expressing gratitude to Pakistan for extending relief to earthquake-hit Gujarat, Prime Minister Atal Bihari Vajpayee today said he would speak to military ruler Pervez Musharraf on telephone and apprise him of the situation in the state.
"I will speak to Musharraf on phone and inform him of the magnitude of the devastation," Vajpayee told reporters here after releasing a weekly Hindi and Urdu journal "Secular Qayadat".
To a question if he would use the opportunity to discuss other issues with Musharraf, Vajpayee said "it is at the time of distress that people come together and share grief".
This will be the first ever contact between Vajpayee and Musharraf after the October 12, 1999 military coup in Pakistan.
Asked about the possibility of resumption of the stalled Indo-Pak dialogue, he said India has made it clear that the talks could start only after a conducive atmosphere was created in Jammu and Kashmir.
"We have always favoured talks for which the right atmosphere has to be created. Violence, killings and terrorism must stop and the climate should be such that fruitful and meaningful parleys can take place," the Prime Minister said.
He termed as baseless media reports that New Delhi had refused aid from Islamabad for the quake victims saying "I am very happy that Pakistan is sending relief material. More relief is expected from that country".
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India did not seek assistance from any country: Jaswant
Cairo,Friday, February 02, 2001: External Affairs Minister Jaswant Singh has said India had not asked for assistance from any country in the wake of the earthquake in Gujarat because it had the strength to manage such crises.
"India did not ask for assistance from anyone, not because of arrogance or pride but because it had the capability to deal with such situations," Singh told members of the Indian community at a reception here Thursday night.
Apparently referring to the Pakistani military ruler General Pervez Musharraf's earlier statement that India declined aid offered by Islamabad, Singh said "India had the innate strength to overcome any disaster.
"India has the resilience to survive such crises. Whether it be famine, war or pillage, the country rises again."
Gen Musharraf had said that India declined the aid offer. "We offered help but it was a little unfortunate India declined it. They said they had plenty," Musharraf had said.
India, however, later accepted assistance from Pakistan.
Singh said the response from other countries was overwhelming as assistance poured in. "There is no shortage of relief. The challenge is that of management," he said.
Singh, however, declined to comment on the death toll in the earthquake, saying "I do not have first-hand information".
Defence Minister George Fernandes is in a better position to talk about it as he was among the first to reach the disaster zone, Singh said.
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US relaxes ban on sale of chopper parts from UK to India
Washington,Friday, February 02, 2001: In the first India-related action, the Bush administration has relaxed the ban on sale of helicopter spares by Britain to India if they contain parts of US origin, a move seen as a forerunner of total lifting of post-Pokhran American sanctions.
The defence department has issued a notification relaxing the ban on helicopter equipment.
The US ban on sale of helicopter parts had hindered deals between India and Britain necessitating fresh tooling to make the parts.
Meanwhile, outgoing Indian Ambassador Naresh Chandra said on the basis of the contacts India has had with those who are now policy makers of the Bush administration and public indications by Secretary of State Colin Powell, the new government appeared serious about carrying on the dialogue with India.
He told Indian correspondents last night that he expected the dialogue to be carried on with the same degree of effectiveness and regularity that characterised the Clinton administration towards the end of its term.
It is noted here that Prime Minister Atal Bihari Vajpayee's National Security Adviser Brajesh Mishra and the new US Defence Secretary Donald Rumsfeld will be in Munich soon for the annual Davos equivalent in defence and might meet on its sidelines for a dialogue.
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Putin and Bush hold first talks, vow to build
Moscow,Friday, February 02, 2001: Russian President Vladimir Putin took his first phone call yesterday from US counterpart George W.
Bush, vowing to build strong ties with Washington but taking the time to intercede on behalf of jailed ex-aide Pavel Borodin.
Putin said he wanted to establish an "intense dialogue" with the Bush administration, hoping the two sides would find "rational, mutually acceptable solutions" to their outstanding disputes, media sources said.
And while Putin did not specifically call for the release of Borodin, jailed in New York under Swiss corruption charges, he "expressed hope that (the case) would be solved based both on legal and humanitarian principle."
Sources said Bush responded to Putin's request with "understanding."
The talks came one day after US Secretary of State Colin Powell and his Russian counterpart Igor Ivanov spoke by telephone for the first time, agreeing to set up a meeting as soon as possible.
Revealingly, neither Putin nor Prime Minister Mikhail Kasyanov attended Bush's January 20 inauguration, where the Russian side was represented by its ambassador and the head of a pro-government faction in parliament.
Putin was also one of the last world leaders to send Bush his congratulations on his inauguration.
Most contentiously, Washington and Moscow remain at odds over controversial US plans for a national missile shield that has been heavily promoted by Bush.
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India extends support to Palestinian homeland
Cairo,Friday, February 02, 2001: India has told the Arab League that it wholly supported the Palestinian right to a homeland within the parametres of international boundaries.
External Affairs Minister Jaswant Singh who called on Arab League Secretary-General Esmet Abdel Magid after arriving here yesterday reiterated India's support to the Palestinian cause.
He told Magid "India backs the Palestinian demand for a homeland within the parametres of international boundaries".
Magid acknowledged India's support on Palestinian issues in international forums.
It was Singh's first meeting with Magid. The minister ,who was accompanied by Deputy Chief of Mission S K Goyal, said India firmly stood by the UN resolutions on Palestine.
During his four-day tour, Singh is scheduled to meet his counterpart Amr Moussa who will call on him tomorrow at his hotel in a deviation from protocol as a mark of cordiality. This will be followed by bilateral talks in the Foreign Office.
Singh will also hold discussions with Minister of Economy and Foreign Trade Dr Yousef Boutros Ghali.
A key engagement will be Singh's presentation at the Egyptian Council of Foreign Affairs on India's perspectives on International and regional security issues. The Council set up two years ago is an influential think-tank connected with the Ministry of Foreign Affairs and gives important inputs to policy making.
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Micro-credit from banks will not be a constraint: Sinha
New Delhi,Friday, February 02, 2001: Finance Minister Yashwant Sinha today assured small entrepreneurs that meeting micro-credit requirements, estimated at about Rs 30,000 crore, would not be a constraint and asked them to develop skills to ensure best possible returns.
The government and Reserve Bank of India (RBI) are examining the suggestions of the NABARD task force on micro credit, and resources from banks would not be a constraint, Sinha said at the Asia Pacific Region Micro Credit Summit here.
"It (the recommendations) has set the pace for creating a suitable policy environment to help banks tap this vast business potential either directly or in partnership with intermediate micro-finance agencies like NGOs, cooperatives, federations of self-help groups and even non-banking finance companies," he said.
RBI has deregulated interest rate on loans given by banks to intermediate Micro Finance Institutions (MFIs) while centre had announced a micro-finance fund with equal contribution of Rs 40 crore each from NABARD and the central bank.
"This fund will help in building capacities of those associated in the development of this sector," Sinha said.
The micro-credit financing facility has brought about a 'silent revolution' in the rural areas, he said pointing to the increase in the number of self-help groups to two lakhs covering 200 lakh poor people within the folds of formal banking services, as against a meagre 255 in 1992-93 and 33,000 till March 1999.
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Rupee opens steady
Mumbai,Friday, February 02, 2001: The rupee opened almost steady against the U.S. dollar today in quiet trading at the Interbank Foreign Exchange (forex) market in the absence of any major activity.
The Indian unit was quoted at Rs 46.4075/4150 a dollar at the early morning trade, marginally changed from the overnight close of Rs 46.3950/4050. It opened at Rs 46.4000/4050 per dollar.
There was no major activity in the forex market, dealers said adding +small dollar buying by public sector banks stemmed appreciation of the Indian currency against dollar+.
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Indian astrologer who predicted new quake arrested
HMEDABAD, India, Feb 2 (Reuters) - An astrologer who predicted an even more
deadly earthquake than the one that struck western India last week has been
arrested and accused of causing panic, a state government minister said on
Friday.
"We have arrested the astrologer who had predicted a second earthquake (on
allegations of) causing panic," Home Minister Haren Pandya told reporters.
Rumours of another disaster had been flying thick and fast in the commercial
city of Ahmedabad after a Gujarati publication quoted a Hindu astrologer as
saying a powerful quake would rip through Gujarat on Saturday.
People who believed the rumours feared the fresh quake would be bigger than
the one which hit last Friday that measured 7.9 on the Richter scale and
killed at least 30,000 people.
Hindu astrolgers have said that Pluto, the planet of death in Hindu
astrology, and Mars, the planet that spells aggression, were aligned
ominously at the moment.
"We will go inside only after the third or fourth of February when the ill
effects of the planets are over," said Naresh Singhvi, who runs a small
"paan" (betel leaf) shop in Ahmedabad.
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Myths about quakes
NEW DELHI: Since ancient times, humans have been terrified of earthquakes as
few natural phenomena can unleash as much mayhem as quakes can. Quakes,
consequently, have always been the subject of legends and myths.
Different cultures in different times have turned to legends to explain the
mystery of the shaking earth. In many cultures, it was believed that a quake
occurred when a bearer who held the world up grew tired and changed position.
Some cultures thought the bearer was a gigantic beast or an animal like an
elephant, catfish or tortoise. Others thought it was God.
As time progressed, other explanations gained ground. Aristotle and many
others, for instance, held that quakes were related to the movement of fluids
or air in subterrestrial chambers.
Today, of course, it is known that movement of large, rigid tectonic plates
within the earth is responsible for the sudden release of energy which causes
an earthquake.
But some myths still exist. Here are some of the common ones:
The world is becoming dangerous because the frequency of earthquakes is
increasing. This is not supported by long-term records, say seismologists. The
number of quakes greater than magnitude 7 and above on the Richter Scale have
remained more or less constant in the last 100 years.
Many quakes used to go unnoticed earlier. Now, with advances in science and
about 5,000 seismological observatories around the globe, more and more
earthquakes are being recorded and reported. ``Sometimes there are some unusual
occurrences but that does not mean the frequency of quakes has increased,''
said a seismologist.
On an average, as per century-old records, the world witnesses one ``great''
(measuring 8 and above on the Richter Scale), 18 ``major'' (from 7 to 7.9), 120
large (from 6 to 6.9) and 1,000 ``moderate'' (from 5 to 5.9) earthquakes every
year.
Major earthquakes occur in the mornings. Even though some recent major quakes,
including the one that hit Gujarat, occurred in the morning, this again is not
supported by the statistics. Quakes can occur at any time of the day.
Quakes are more common in hot weather. There is no connection between quakes
and weather. Quakes originate too deep within the Earth to be affected by
weather. They take place in all types of climate and climatic zones.
The Earth opens up during a quake and can swallow up people. Faults certainly
do not open up during a quake. Movement occurs across a fault, not
perpendicular to it. There would be no friction, and consequently no quake, if
a fault could open up. A shallow crevice, of course, can form due to the ground
movement.
Animals can sense an impending earthquake. Humans, as of now, cannot accurately
and consistently predict quakes. Nor can animals. However, some changes in the
behaviour of dogs, cats, horses and others have been observed before quakes.
But the behaviour was not consistent and could also have being due to other
events.
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Markets
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To get today's complete NIFTY (the NSE index) listing send an e-mail to
get-nse@mumbai-central.com
(updated multiple times a day)
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To get today's BSE index listing send an e-mail to
get-bse@mumbai-central.com
(updated multiple times a day)
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To get today's NAVs for mutual funds send an e-mail to
get-mf@mumbai-central.com
(updated once a day)
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Sensex: 4352.26 (+66.15)
The sensex closed at 4352.26, up 66
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PSU stocks push up Sensex by 66 points
The market remained firm on Friday on renewed buying interest in Public Sector Undertaking ( PSU) stocks after the government took some concrete steps in the direction of the much-awaited disinvestment in PSUs.
The BSE 30-share Sensitive Index (Sensex) gained 66 points to 4352 today, which is also the last day of settlement.
The Cabinet Committee on Disinvestment (CCD), at its meeting held on Thursday, took some bold decisions that improved the market sentiment. This resulted in PSU stocks remaining in the limelight. Amid the euphoria, the market ignored the government's decision to impose a 2% surcharge on the incomes of individuals and corporates.
The prime minister again hinted today of some more taxes to meet the additional fiscal burden caused by the earthquake.
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Forex
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1 DMark = 22.29544 INR
1 FFranc = 6.647734 INR
1 U.K. Pound = 68.51456 INR
1 US $ = 46.35000 INR
1 Yen = 0.401821 INR
1 Canadian $ = 31.05 INR
1 Singapore $ = 26.67 INR
1 UAE Dirham = 12.62 INR
1 Saudi Arabian Riyal = 12.36 INR
1 Euro = 43.64 INR
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Metals
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01 February
Gold Std. (10g): Rs 4450
Silver (1 Kg) : Rs 7925
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Weather
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Temperature: 77 F / 25 C
HeatIndex: 79 F / 26 C
Humidity: 61%
Dewpoint: 63 F / 17 C
Wind
NW at 5 mph / 8.0 km/h
Pressure: 29.77 in / 1008 hPa
Conditions
Smoke
Clouds
Scattered Clouds (SCT): 9800 ft / 3000 m
Scattered Clouds (SCT): 24500 ft / 7500 m
Sunrise : 07:11 AM (IST)
Sunset : 06:30 PM (IST)
Moon Rise : 12:52 PM (IST)
Moon Set : 02:03 AM (IST)
Tonight : Low: 71 F / 22 C Partly Cloudy
Saturday : High: 89 F / 32 C Partly Cloudy
Saturday Night : Low: 69 F / 21 C Scattered Clouds
Sunday : High: 87 F / 31 C Clear
Sunday Night : Low: 66 F / 19 C Clear
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Features
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Details
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Today in history
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Some history behinds the names of Mumbai's localities.
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Rajan Malhotra explains the significance of Sankranti/Pongal/Lohari/Kicheri/Sukarat...
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The Republic Blast Concert
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Events in Jan 2001
This week's Bollywood news
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Watery Groves - a poem by
Rajababu
Disconnected - a poem by
Sanjeev Naik
Our interactive bus guide
Refuse, Reduce, Re-use, Re-cycle plastics
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