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Headlines
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News:
Pak has no right to talk about human rights violation: PM
INSAT-3C in final geo-stationary orbit
Russia asks Pakistan to hand over terrorists to India
Expand peacekeeping force to areas beyond Kabul: Brahimi
Annan offers UN help to India, Pak to resume dialogue
CIA Director says al-Qaida still a threat to America
Child conscription reports taken up with LTTE: Govt
Trade, economic protocol with Russia signed
Indian software sector weathers global storm
100,000 tonne onions released for export
Late sell-off by institutional investors pares early gains
Reid is ICC match referee for India-Zimbabwe series
Cronje to take up job as Finance Manager
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Markets:
Sensex: 3436.94, +9.55
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Forex, Metals and
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News
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Pak has no right to talk about human rights violation: PM
Haldwani (Uttaranchal),Thursday, February 07, 2002: In a blistering attack on Pakistan for levelling allegations of human rights violations against Indian security forces in Kashmir, Prime Minister Atal Bihari Vajpayee today said a country where such rights are crushed under a military dictatorship has no business to point fingers at others.
Addressing a public meeting here, Vajpayee said ''there is no democracy in Pakistan. There is a military dictatorship there and human rights are being crushed. It has no right to talk about human rights violations in this country''.
Contesting Pakistan's oft-repeated bogey of wishes of the Kashmiri people should be taken into account, he said every five years people exercise their franchise and elect representatives according to their ''wishes''.
He promised that terrorism in J and K would be wiped out like it has been effectively done in Punjab.
He accused the erstwhile Congress Governments of raking up trouble in the state. They made brothers fight each other, he said.
Stressing that terrorism has no boundaries, Vajpayee said the US realised this only after the September 11 attack.
He said solution to outstanding problems between India and Pakistan has to be found only through dialogue and violence cannot be an answer to resolving it.
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INSAT-3C in final geo-stationary orbit
Bangalore,Thursday, February 07, 2002: India's INSAT-3C communication satellite has been successfully placed in its geo-stationary orbit, Indian Space Research Organisation said today.
The satellite, launched by Europe's Ariane-4 rocket from Kourou space station in French Guiana on January 24, is now in the final geo-stationary orbit and located at 74 deg. East longitude, ISRO said.
In the last four days, station acquisition manoeuvres were successfully conducted from the Master Control Facility, Hassan, some 180 km from here, by firing the 10 Newton Reaction Control Thrusters on board to position the spacecraft precisely at 74 deg. East longitude, ISRO said.
"INSAT-3C will be maintained in this location for the rest of its service life," the Bangalore-headquartered ISRO said in a statement.
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Russia asks Pakistan to hand over terrorists to India
New Delhi,Thursday, February 07, 2002: In a strong endorsement of Indian line, Russia today asked Pakistan to hand over terrorists and criminals sought by it and disarm terrorists groups operating on its soil to prove on ground its recent commitments to root out terrorism.
Appreciating the restraint shown by New Delhi in the context of the build-up on the Indo-Pak border, the visiting Russian Deputy Prime Miniaster Ilya Klebanov said it was time for Pakistan to prove to the entire international community its "seriousness" to fight terrorism.
"We absolutely agree when India tells Pakistan to do something on ground to show its sincerity. We want that terrorists should be disarmed, punished and where cases were made out to hand them over to India," he told reporters after signing the protocol of the eighth session of the Indo-Russian inter-governmental commission on trade and economic cooperation.
Counselling that taking recourse to military action was not always the best solution, Klebanov agreed with the assessment of CIA Director George Tenet that the situation on the Indo-Pak border was "serious".
"I would not dispute the point raised by the CIA Director. It is a professional body and has its own means to of making an assessment," the Russian Deputy Prime Minister said.
He said Russia always unequivocally supported India in its stand on Kashmir.
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Expand peacekeeping force to areas beyond Kabul: Brahimi
United Nations,Thursday, February 07, 2002: A top UN envoy in Afghanistan has asked the Security Council to urgently expand the international peacekeeping force led by Britain to provide security to areas beyond Kabul, warning that without security, reconstruction of the war devastated country could not take place.
The expansion to provide security in the entire country is being demanded by ordinary Afghan members of the Interim Administration and even warlords, Lakhdar Brahimi told the Council.
At present, the force is providing security only to the capital of Kabul and Brahimi said the improvement in the situation there has led to the demand for expanding its presence to other areas.
But he did not suggest any size or number. Nor did he say how and where additional personnel should be deployed. Some of the states contributing the troops are opposed to the expansion, fearing it would lead to prolonged deployment and add to the cost enormously.
The Council had authorized a 5000-strong force for Kabul and surrounding areas to enable the Interim administration to function. The expansion could mean adding thousands of more soldiers and by some estimates, the strength would need to be raised to 25,000.
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Annan offers UN help to India, Pak to resume dialogue
New York,Thursday, February 07, 2002: UN Secretary General Kofi Annan has offered the world body's help to bring India and Pakistan together for talks even as the CIA warned that the chance of war between the two nations was "higher than at any point since 1971" and a conventional war, once begun, could escalate into a nuclear confrontation.
Briefing the Security Council yesterday on his trip to Pakistan and some other Asian countries, Annan said New Delhi and Islamabad must start talking to resolve their differences, including the issue of Kashmir.
There was a "need not only for immediate military de-escalation, but also for sustained dialogue aimed at resolving this situation so that there will not be another crisis in a few weeks or a few months' time."
The Secretary general said he had offered his services to both the countries to get talks started.
Meanwhile, in Washington CIA Director General George Tenet told Senate Intelligence Committee that "the chance of war between these two nuclear-armed states is higher than at any point since 1971."
Testifying before the committee, he said, "both India and Pakistan are publicly downplaying the risks of nuclear conflict in the current crisis. We are deeply concerned, however, that a conventional war -- once begun -- could escalate into a nuclear confrontation."
"We have continuing concerns that both sides may not be done with nuclear testing," Tenet said.
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CIA Director says al-Qaida still a threat to America
Washington,Thursday, February 07, 2002: The United States Central Intelligence Ageny (CIA) has warned that the al-Qaida still remains a grave threat to America and called for a long battle to root out the terrorist menace.
Testifying before the Senate Intelligence Committee yesterday, CIA Director George Tenet said the al-Qaida remains a serious threat interested in striking "high-profile" American targets including the Olympics that open Friday in Salt Lake City.
"We know," said Tenet, "that terrorists have considered attacks in the US against high profile government or private facilities, famous landmarks and US infrastructure nodes such as airports, bridges, harbours and dams."
"High-profile events such as the Olympics or last weekend's Super Bowl also fit the terrorists' interests in striking another blow within the United States that would command worldwide media attention," Tenet told the Committee.
"Their modus operandi is to continue to have multiple attack plans in the works simultaneously and to have al-Qaida cells in place to conduct them," Tenet said.
The al-Qaeda, he said, also has plans to strike US and allied targets in Europe, the Middle East, Africa and Southeast Asia adding American diplomatic and military installations are at high risk, especially in East Africa, Israel, Saudi Arabia and Turkey.
Admitting that network has not yet rooted-out as yet, Tenet said "al-Qaeda cells are in place in major cities in Europe and the Middle East. It can also exploit its presence or connections to other groups in such countries as Somalia, Yemen, Indonesia and the Philippines".
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Child conscription reports taken up with LTTE: Govt
Colombo,Thursday, February 07, 2002: The Sri Lankan government has taken up the issue of alleged conscription of children by the LTTE with the rebels through Norwegian peace facilitators, a Cabinet spokesman said today.
"Yes, it has, of course, been raised with the LTTE, we have been taking up such matters through the Norwegians, whenever they are brought to our notice," Prof G L Peiris told mediapersons here.
Peiris was replying to a question on the government's apparent lack of response to reports of forced enlistment of youngsters by the LTTE when even President Chandrika Kumaratunga had voiced her concern.
"There is a very deep concern about humanitarian issues and civil rights," he added. The LTTE has denied the charge, and claimed that only enlistment of adult volunteers for military and administrative duties was going on.
Peiris denied suggestions that the government was going all out to please the Tigers and that the proposed truce agreement would prove to be a one-sided document granting too many concessions to the rebels.
Peiris, Industrial Development and Constitutional Affairs Minister and one of the ministers designated to handle the peace process, stressed that humanitarian and security considerations would form crucial components in the proposed ceasefire agreement.
"Please suspend your judgement until the agreement is ready. You will see that the final document is reciprocal and not one-sided," he said, adding both sides showed sound understanding of each other's problems.
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Trade, economic protocol with Russia signed
New Delhi,Thursday, February 07, 2002: India and Russia today signed a wide ranging trade and economic protocol providing for joint development of a 100-seater multi-purpose transport aircraft, boosting cooperation in oil exploration and unveiled new measures to reverse the declining trade.
The aircraft, to be produced and marketed jointly, is likely to be based on the Russian IL-214 design and will be developed in its various versions, military transport, passenger and cargo.
Announcing this desision Russian Deputy Prime Minister Ilya Klebanov told reporters that feasibility studies have already been carried out and Moscow and New Delhi had earmarked development of main and subsidiary systems like air frame, engines and other components between them.
During the extensive meeting, the two sides came to an agreement to sort out the vexed issue of debt repayment, utlise large rupee holdings by Moscow for restructuring the ailing steel plant IISCO at Burnpur in West Bengal and 2000 MW Koodamkulam Nuclear in Tamil Nadu plant being set up with Russian assistance.
Expressing alarm over the fall in bilateral trade this year, Finance Minister Yashwant Sinha and Klabenov, who are Co-Chairmen of the commission, said that while giving strength to traditional areas of trade, the two sides have agreed to diversify into new areas like import of rough diamonds from Russia and export of computers from India.
Sinha said Russia has agreed to have one time clearance for Indian pharmaceutical imports, which form the bulk of the trade between the two countries.It will be replace the old system of batch by batch inspection.
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Indian software sector weathers global storm
London,Thursday, February 07, 2002: Despite a global downturn in Information technology, Indian software companies have not only weathered the storm but registered sizeable improvement in their performance.
Indian software exports totalled Rs. 91 billion (1.8 billion dollars) in the quarter to December, a 25 per cent rise year on year, and are on line to achieve full-year revenues of about 8.5 billion dollars, a 30 per cent rise.
That is a shadow of the growth achieved in the past 10 years. "This is our first recession and the key message is that we are resilient," says Nandan Nilekani, the new chief executive officer of Nasdaq-quoted Infosys.
Europe is the new stamping ground. Indian companies with money to spend on building brands are focusing on industries, notably in Germany, that are restructuring and are new to outsourcing as a way to cut costs and boost competitiveness.
It is hoped that these underlying trends will strengthen the appeal of offshore work, which typically accounts to 40-50 per cent of revenues.
More offshore work would also underpin the industry. An offshore contract typically takes 18 months to get off the ground and tends to lock in clients into a long-term relationship with greater opportunities to ramp up work. That means more throughout of work and more jobs in India, where the industry already employs 500,000.
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100,000 tonne onions released for export
New Delhi,Thursday, February 07, 2002: Government has notified the release of 100,000 tonne onions for export upto April 15 this year from February six by eight agencies with specific allication for each of them.
The agencies include National Agricultural Cooperative Marketing Federation of India and Maharashtra State Agricultural Marketing Board (35,000 tonnes each), Gujarat Agro Industries Corporation (10,000 tonnes), Spices Trading Corporation (6000 tonnes), Andhra Pradesh State Trading Corporation (5000 tonnes).
Other allottees are Karnataka State Cooperative Marketing Federation and North Karnataka Onion Growers Cooperative Society (2000 tonnes each) and National Cooperative Consumers Federation (5000 tonnes).
Onion exports are subject to an overall ceiling of seven lakh tonnes against an annual output of over four million tonnes.
The release of 100,000 tonne follows government's clearance for an onion, potato, garlic export zone in Madhya Pradesh last month.
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Late sell-off by institutional investors pares early gains
Mumbai,Thursday, February 07, 2002: Late sell-off by foreign funds and domestic institutions, particularly in IT stocks, pared the gains in the sensex that finally ended the session in positive territory on the Bombay Stock Exchange (BSE) today.
Stocks of Public Sector Undertakings (PSUs) like HPCL, BPCL and MTNL remained in the forefront scoring impressive gains on fresh investment buying prompted by the government's initiative to disinvest its stake in IBP and VSNL, and statements on divestment plans for BPCL and HPCL.
Initially, the market witnessed a strong rally lifting the sensex to the intra-day high at 3495.83. However, Foreign Institutional Investors (FIIs) and local mutual funds booked profits at higher levels after midsession.
The BSE Benchmark 30-share Index later moved downwards to close at 3436.94 as against yesterday's close of 3427.39, netting a gain of 9.55 points.
The broad-based BSE-100 Index, however, declined by 17.58 points to 1676.74 from previous close of 1694.32.
FIIs were believed to have reduced their investments in technology stocks and created positions in Indian counters. FIIs were reportedly heavy sellers in key IT shares like Infosys Technology and Satyam Computers besides a few others second-line counters in the light of depressed sentiment on the NASDAQ in the last couple of sessions.
Heavyweights like RIL, SBI, MTNL, HPCL and Telco were the major contributor to the sensex gains.
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Reid is ICC match referee for India-Zimbabwe series
Mumbai,Thursday, February 07, 2002: John Reid of New Zealand will be the International Cricket Council (ICC) match referee for the India-Zimbabwe series, commencing on February 15.
Cricket Board executive secretary Sharad Diwadkar said here today that ICC panel umpire David Sheperd of England will officiate in the first Test at Nagpur from February 21 to 25 along with an Indian umpire to be named on Sunday. "Ashoka D'Silva of Sri Lanka will be the ICC umpire for the second Test in Delhi from February 28 to March 4," Diwadkar added. Zimbabwean cricketers will also play a five-match one-day series in March apart from a three-day game at Vijayawada against the Board President's XI from February 15 to 17.
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Cronje to take up job as Finance Manager
Durban,Thursday, February 07, 2002: Hansie Cronje has finally landed a job.
After alleged shady financial gains in the match-fixing scandal which finished his career, the former South African cricket captain is to take up employment as finance manager of a stock-exchange listed company. Cronje, who was banned from the game for life by the South African Cricket Board and also denied any role in that country's cricket, not even as a commentator, will join Bell Equipment, supplier of heavy earth-moving equipment. The chief executive of the company, Gary Bell, told the media here that Cronje had been "given the blessing of 99 per cent of the company's customers". He said Cronje will join the company's finance team and will be one of the seven managers structuring financial and insurance packages for clients. "Cronje, being in his second year of a masters degree in business leadership, has the right qualifications and interest for the job," Bell said. "I'm confident the appointment will not have any detrimental effects on the company's price share or perception in the market place as Cronje's name is virtually unknown outside South Africa where we do most of our business. "Inside the country his background could add some value to Bell. Also, like anyone else, Cronje has the right to be presumed innocent until proved guilty in a court of law, and that has not happened yet," he said.
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Sensex: 3436.94, +9.55
The sensex closed at 3436.94, up 9.55
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Forex
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1 U.S. $ = 48.65 INR
1 Japanese Yen = 0.36 INR
1 British Pound = 68.60 INR
1 Canadian $ = 30.28 INR
1 Singapore $ = 26.59 INR
1 UAE Dirham = 13.24 INR
1 Saudi Arabian Riyal = 12.97 INR
1 Euro = 42.16 INR
1 Qatar Rial = 13.36 INR
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Metals
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No data
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Weather
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Temperature: 70 F / 21 C
Humidity: 49%
Dewpoint: 50 F / 10 C
Wind
NW at 6 mph / 9.7 km/h
Pressure: 29.88 in / 1012 hPa
Conditions
Smoke
Clouds
FEW: 25000 ft / 7622 m
Sunrise : 07:09 AM (IST)
Sunset : 06:32 PM (IST)
Moon Rise : 04:01 AM (IST)
Moon Set : 02:22 PM (IST)
Tonight : Low: 62 F / 17 C Clear
Friday : High: 75 F / 24 C Scattered Clouds
Friday Night : Low: 62 F / 17 C Clear
Saturday : High: 75 F / 24 C Scattered Clouds
Saturday Night : Low: 64 F / 18 C Clear
Sunday : High: 73 F / 23 C Clear
Sunday Night : Low: 64 F / 18 C Clear
Monday : High: 77 F / 25 C Clear
Monday Night : Low: 66 F / 19 C Clear
Tuesday : High: 80 F / 27 C Clear
Tuesday Night : Low: 71 F / 22 C Clear
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Bollywood Roundup for 2001
74 images with descriptive text showcasing the
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