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Headlines
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News:
25 killed in explosion in Tamil Nadu
Pak has assured it will not raise Kashmir issue: PM
Venkataswami Comm starts in-camera hearing of Kornet E
Mumbai experiences heavy showers
Women to Choose Grooms in New TV Show
Vajpayee, Bush expected to meet on sidelines of UN convention
Israel has security pacts with 39 states, including India
Booker-judges cold-shoulder Rushdie
India eyes Iran, Lanka for wheat export through barter, credit
India not isolated in WTO negotiations: Maran
Rupee steady against US dollar
United to begin nonstop Chicago-New Delhi route
BSE: Equities resume lower but recover immediately at opening
Sri Lanka gain 175-run 1st innings lead
Bradman never missed Tendulkar innings in last five years
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Markets:
Sensex: 3337.91, +6.02
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Forex, Metals and
Weather below
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News
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25 killed in explosion in Tamil Nadu
Chennai,Thursday, August 16, 2001: Twenty five people were killed and three injured in an explosion at the Tamil Nadu Industrial Explosives Limited at Katpadi near Vellore, Chief Minister Jayalalithaa said today.
The accident occurred in a godown manufacturing explosives, she said.
Seven bodies have been recovered so far, company sources told PTI over phone, adding rescue work was on in full swing.
The cause of the explosion, which occured around 9.30 AM, was not immediately known, police here said.
The roof of the unit came down under the impact of the explosion, they said.
Senior officials of the company, including the chairman, have rushed to the spot, company sources said.
Jayalalithaa, in a statement, said she had deputed rural industries minister K Pandurangan and industries minister R Vaithilingam to the accident spot to ascertain the cause of the mishap.
She also announced a solatium of Rs 50,000 to the families of those killed, Rs 15,000 to those who suffered grievous injuries and Rs 6000 to those with simple injuries.
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Pak has assured it will not raise Kashmir issue: PM
New Delhi,Thursday, August 16, 2001: For the first time after the Agra Summit, Prime Minister Atal Bihari Vajpayee today declared that a "broad framework" for future talks with Pakistan has been agreed to and said Islamabad has given the assurance that it would not not raise Kashmir issue in SAARC and other international fora.
"The process of dialogue with Pakistan will continue. We have reached an understanding on the broad framework for future talks," Vajpayee told the Rajya Sabha while giving his reply to a debate on the Summit.
In his spirited 40-minute speech, interspersed with his characteristic wit, the Prime Minister made it clear that there would be no no compromise on Jammu and Kashmir which is an integral part of the country.
"India will not not allow another partition on the basis of religion," he said asserting New Delhi rejected the two-nation theory.
Vajpayee warned Pakistan that terrorism was a double- edged sword and by encouraging it, Islamabad was putting itself in peril.
Referring to recent killings of innocent people in J and K including yesterday's massacre in Udhampur, he said Pakistan stood exposed before the international community which wanted terrorism to end rather than focussing on the Kashmir issue.
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Venkataswami Comm starts in-camera hearing of Kornet E
New Delhi,Thursday, August 16, 2001: Venkataswami Commission, probing into Tehelka expose, today began in-camera hearings on the "sensitive" deal of Kornet E, one of the transactions named in the portal's video tapes, with the Centre claiming privilege on the same.
The Commission allowed the Centre's plea that for one of the defence deals, namely Kornet E, which figured in the hearing here, taking of evidence and hearing the submissions be held in-camera.
However, on the issue of hearing other transactions in-camera, as requested by the Centre, the Commission said the matter would be decided on merit and considered at an appropriate stage.
The Centre requested Justice Venkataswami to grant them claim to privilege on the proceedings and examination of the witnesses on all the defence deals as they were sensitive and it was in the national interest that the matter be heard in-camera.
However, the Counsel for the Commission Gopal Subramaniam argued that though he agreed that Kornet E was "sensitive" and proceedings for the same should be held in in-camera and for other deals, the Commission should decide on merits.
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Mumbai experiences heavy showers
Heavy monsoon rains lashed the city and neighbouring Thane district since Wednesday, inundating several low lying areas.
However, road and rail traffic remained normal, traffic helpline sources said.
Fairly frequent rains or showers with one or two heavy spells of heavy rains are expected today, the weather office sources said.
Colaba recorded 35.8 mm rainfall and Santa Cruz about 46.1 mm during the last 24 hours, they added.
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Women to Choose Grooms in New TV Show
An ancient Indian tradition of letting a woman choose her groom from a clutch of suitors is being packaged for contemporary audiences in the country's first matchmaking television show to be aired later this year.
The weekly program ``Swayamvar'' (Own Groom) on state-owned broadcaster Doordarshan will be held before a live studio audience, in which suitors will compete for a girl's hand.
``The 5,000-year-old history of Indian weddings inspired me to make the program,'' said Anil Gupta, Director-Promoter of Taal India Communication Private Ltd., which is producing the show.
``Swayamvar'' was a common practice in northern India's erstwhile kingdoms where princes vied to tie the knot with the most beautiful princesses.
The prerogative rested with the woman, who would garland the man of her choice from a gathering of suitors.
``I want to empower the woman. It should be her choice,'' Gupta said.
Gupta said he first thought of the idea four years ago, long before the U.S. program ``Who Wants to Marry a Millionaire'' -- in which dozens of women vied to marry a rich husband -- made so called ``reality matchmaking'' fashionable.
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Vajpayee, Bush expected to meet on sidelines of UN convention
Washington,Thursday, August 16, 2001: A possible meeting between Prime Minister Atal Bihari Vajpayee and US President George W. Bush on the sidelines of the UN General Assembly meet later this year is expected to take Indo-American relations to a higher plane, ahead of the proposed India visit by Bush next year, diplomatic sources here said.
Sources said the possible meeting between the two leaders could well be the highlight of Vajpayee's visit to New York.
It is not confirmed, however, if Vajpayee and Pakistan President General Pervez Musharraf, who is also coming to New York to attend the General Assembly convention, would meet.
According to analysts here, there is a little possibility of a meeting between the two leaders. "The reason is that nothing seems to have changed since the Agra summit, when Musharraf made Kashmir his one-point agenda and refused to recognise Pakistan's well-known and tacit support to cross-border terrorism," they say.
However, Pakistani Ambassador to US Maleeha Lodhi has gone on record saying that much was achieved at Agra and that a subsequent meeting will produce concrete results.
"We do not share the pessimistic view of some that the Agra summit had collapsed or failed... It is unfortunate that the conclusion of the exercise was aborted. The Agra summit was inconclusive but it did not fail", she said here recently.
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Israel has security pacts with 39 states, including India
Jerusalem,Thursday, August 16, 2001: Israel has signed secret cooperative agreements with 39 countries, including India and China, to prevent information leaks from joint security projects.
As per the agreement, in the event of an information leak or transfer of sensitive information to a third party by a spy, both countries must work together to investigate the matter, media reports said here today.
In the event of a leak of information, the country in which the leak took place must compile a report giving explanations and findings of the investigation and present it to the second country. The officials from the second country also should be allowed to investigate the matter in the country where the leak occurred, 'Haaretz' daily reported
quoting security and diplomatic sources.
Currently, Israel has such secret agreements with India, China, Turkey and Singapore as well as with countries in east and west Europe, Australia, the US and Central and South America, the daily reported.
Whenever Israel hands over technological information to another country, sells security equipment or participates in a joint-production project, a security department in the Ministry of Defence draws up the terms of the agreements.
Israel has already exercised this right once in 1983 when South Africa arrested a top naval officer and his wife on suspicion of spying for the Soviet Union. During questioning, the official reportedly admitted that he had passed on information about nuclear cooperation between Israel and South Africa and details of other joint weapons projects.
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Booker-judges cold-shoulder Rushdie
London,Thursday, August 16, 2001: India-born controversial author Salman Rushdie, one of the most feted Booker prize-winners of the past two decades, has suffered a set back as he has been left out of the field of authors in the running for this year's 21,000 Pound Booker Prize, the coveted British literary prize.
His new novel 'Fury' - considered a fictionalised account of his own chequered life with women - was omitted from a list of 24 books issued by the judges last night.
Another Indian author, Manil Suri, however, finds a place in the long-list for his novel 'The Death of Vishnu'. Former winner, V S Naipaul is also in the reckoning for his literary work 'Half a Life.'
The bookmakers William Hill posted Beryl Bainbridge, the trier and stayer" of the field, as a 6-1 favourite for her novel called 'According to Queeney." This is her sixth attempt to win the coveted award. Among others in the contest are five former winners, including Naipaul, Ian McEwan and James Kelman.
Rushdie's 'Fury,' due out on August 30, is being promoted a "a novel of furious energy", a study of the mid-life anger of a protagonist whose life, like its author's shuttles between India, Britain and the US. But it found little favour among the five judges. They are understood to feel that it "failed to reach his usual standard", The Guardian, Daily commented today.
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India eyes Iran, Lanka for wheat export through barter, credit
New Delhi,Thursday, August 16, 2001: India plans to enter the Iranian wheat market through a barter arrangement in exchange for bitumen and has promised credit facility to Sri Lanka for exporting the commodity to the island nation.
Talks are also on with Indonesia for large scale export of wheat in exchange for their coal and palm oil.
"Efforts are being made for quid pro-quo arrangements with countries like Indonesia and Iran to have a captive large market for our wheat and import items like bitumen which we need for road development," official sources told PTI.
They said Iran had been receptive to the proposal but had enlisted four types of fungus which they wanted eliminated from the wheat before shipment.
The list had been forwarded to the Indian Agricultural Research Institute (IARI).
India wanted the deal with these countries to be on a "load port final" basis where both parties could satisfy themselves about the quality of each other's items before shipment and refrain from subsequent rejection.
This conditionality assumes importance in the light of the recent rejection of four wheat consignments by Iraq after the shipment from India had reached their ports.
Sri Lanka had been offered credit facilities at the government level if they were ready to consider Indian wheat import on a long term basis.
Sri Lanka, at present uses the services of a Singapore company Prima, based in the island nation for milling the imported wheat. The company is allegedly discouraging grain imports from India on grounds of quality.
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India not isolated in WTO negotiations: Maran
New Delhi,Thursday, August 16, 2001: Commerce and Industry Minister Murasoli Maran said today India was not isolated in WTO negotiations on implementation related concerns of developing countries and assured that the government would strive to safeguard national interests at the forthcoming WTO Ministerial conference at Doha.
Addressing the Parlimantary Consultative Committee meeting Maran also said that government would attempt to evolve a consensus within the coutnry as also to garner the support of other developing countries on multi-lateral trade issues affecting the third world, particularly market access.
Maran also referred to the preparatory consultations for the ministerial consultations now underway at Geneva and voiced concern over efforts of certain industrialised countries to include new issues in the WTO agenda.
He said, "India was consistent in its position that implementation-related concerns of the developing countries should be addressed upfront by the WTO members as these arose out of the Uruguay round of negotiations concluded in 1994.
Developing countries were already paying heavily by undertaking several onerous obligations and were not prepared to pay again, he said.
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Rupee steady against US dollar
Mumbai,Thursday, August 16, 2001: The Rupee ruled steady against the US dollar in tight range bound early trade at the Interbank Foreign Exchange market today.
The Indian unit was quoted at Rs 47.1150/1250 per dollar in late morning deals, barely changed from Tuesday's finish of Rs 47.1200/1250. The Rupee opened at Rs 47.11/13.
The forex spot market was closed yesterday on account of +Independence Day+.
Rupee-dollar outright spot dealings remained quiet and within tight bands due to lack of market moving factors. Light dollar demand from state-owned banks will be easily absorbed by the adequate local dollar supplies, a forex dealer said.
In cross currency trades, the Euro was quoted at Rs 43.11/13, Pound Sterling at Rs 67.97/99 and the Japanese Yen (100) Rs 39.29/26.
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United to begin nonstop Chicago-New Delhi route
CHICAGO: UAL Corp.'s United Airlines, the world' second-largest carrier, said on Tuesday it will begin a nonstop Chicago to New Delhi route on Oct. 27, the first-ever direct flight to India from the United States.
President Rono Dutta said in a conference call with reporters the new daily flight will set United apart from competitors.
``We are looking for product differentiation all the time,'' Dutta said. ``This clearly sets us apart from all the other carriers. India is a very seasonal market. But we've looked at this route and we think it will be profitable.''
The airline will pull service from London to New Delhi and New Delhi to Hong Kong simultaneously with the addition of the new nonstop route.
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BSE: Equities resume lower but recover immediately at opening
Mumbai,Thursday, August 16, 2001: Equities opened slightly lower but recovered in 60 minu tesof trading at the opening session on the Bombay Stock Exchange (BSE) today on selective buying.
The BSE-30 share sensitive index resumed weak at 3326.24 and touched a low of 3321.74 and immediately recouped to a high of 3346.13 before being quoted at 3336.15 at 11.15 am as against yesterday's close of 3331.89.
Software counters displayed a mixed bag on alternate bouts of buying and selling despite a fall in the Nasdaq Composite Index last night.
Himachal Futuristic, Hughes Softwre, Zee Telefilms, NIIT, Satyam Computer and Global Tele ruled firm while Infosys Tech, Wipro, SSI Ltd and Digital Equipment were quoted in negative territory.
Petrochem giant and index heavyweight, RIL was in keen demand following institutional buying.
Among major gainers, Arvind Mill rose by 5.33 per cent, Telco by 4.47 per cent, Sygenta by 4.14 per cent, Kesoram by 4.05 per cent, Shyam Telecom by 3.81 per cent, Himachal Futuristic by 3.74 per cent, Zee Tele by 3.02 per cent and Cummins Ind by 2.99 per cent.
However, HPCL dropped by 8.65 per cent, ITC Bhadra by 4.95 per cent, Dr Reddy by 3.00 per cent, Tata Fin by 2.63 per cent and Aurobindo Pharma by 2.19 per cent.
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Sri Lanka gain 175-run 1st innings lead
Galle,Thursday, August 16, 2001: Replying to India's total of 187, Sri Lanka were all out in their first innings for 362 runs shortly after lunch on the third day of the first cricket Test here today.
Sri Lanka are thus ahead by 175 runs on the first innings.
Brief scores:
India: 187
Sri Lanka: 362 (S Jayasuriya 111, K Sangakkara 105 no, Srinath 5/114, Zaheer Khan 3/89).
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Bradman never missed Tendulkar innings in last five years
Sydney,Thursday, August 16, 2001: Sir Donald Bradman was first impressed by Sachin Tendulkar while watching a one-day game against Australia in the 1996 World Cup and never missed a chance to see an innings from the Indian maestro after that, the book 'Bradman's Best' reveals.
"Australia won (that match) but not before a stunning 90 from Tendulkar that captured the Don's attention," the book, which chronicles each of the 12 members of the 'Dream Team' selected by Bradman, says in the chapter 'The Star of India'.
The book, authored by Roland Perry which has seen just half a day in the shops, has already become a best-seller with a strong response reported from buyers.
"He was most taken in by Tendulkar's technique, compactness and his shot production and had asked his wife to have a look at the Indian as he felt that Tendulkar played like he had. Jessie agreed that they appeared similar.
"Bradman never missed a chance to see Tendulkar from then until the end of the 1999 three-match Test series in Australia," the book says.
"Bradman ranked Brian Lara and Tendulkar as the best bats in the world and found it difficult to judge who was better. He thought that Tendulkar had a very sound defence while Lara was marginally more aggressive and took more risks.
"By 2000, he held to the view that they were the best in world cricket, but that Tendulkar just pipped Lara as the world's number one," it says.
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Markets
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Sensex: 3337.91, +6.02
The sensex closed at 3337.91, up 6.02
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Forex
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1 U.S. $ = 47.11 INR
1 Japanese Yen = 0.39 INR
1 British Pound = 68.18 INR
1 Canadian $ = 30.87 INR
1 Singapore $ = 27.00 INR
1 UAE Dirham = 12.83 INR
1 Saudi Arabian Riyal = 12.56 INR
1 Euro = 43.15 INR
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Metals
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No data |
Weather
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Temperature: 84 F / 29 C
HeatIndex: 90 F / 32 C
Humidity: 70%
Dewpoint: 73 F / 23 C
Wind
WSW at 12 mph / 19.3 km/h
Pressure
N/A
Conditions
Haze
Clouds
Mostly Cloudy (BKN): 10000 ft / 3050 m
Sunrise : 06:20 AM (IST)
Sunset : 07:06 PM (IST)
Moon Rise : 04:05 AM (IST)
Moon Set : 04:44 PM (IST)
Tonight : Low: 73 F / 23 C Chance of a Thunderstorm
Friday : High: 82 F / 28 C Chance of a Thunderstorm
Friday Night : Low: 73 F / 23 C Thunderstorm
Saturday : High: 82 F / 28 C Thunderstorm
Saturday Night : Low: 73 F / 23 C Thunderstorm
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