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Headlines
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News:
Seven killed, 17 injured as Mig 21 crashes
Mayawati becomes U P CM for the third time
Cyclonic storm hits W. Bengal, Assam and Sikkim, seven dead
Indian tree sap may lower cholesterol
Ernst & Young to acquire Arthur Andersen's India operations
Bharat Shah appears in MCOCA court for trial
India mum on Musharraf's referendum win
SC serves notice to Gujarat on CBI probe
Grand old man of Indian hotel industry M C Oberoi dead
Powergrid to invest Rs 550 bn in telecom in 10th and 11th plan
Software exports from Karna touches over Rs 9000 crore
Trade unions to observe protest day on May 15
After a pristine performance, India produce a flop show
Anand to clash with Karpov for Eurotel trophy
Ganguly needs more time at the helm: Clive Lloyd
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Sensex: 3372.56, +34.40
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News
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Seven killed, 17 injured as Mig 21 crashes
Jalandhar,Friday, May 03, 2002: An Indian Air Force (IAF) Mig-21 jet crashed on a bank building here half an hour after it took off from Adampur air base on a routine flight killing seven persons on the ground and injuring 17 others, most of them seriously, but the two-man crew escaped.
The pilot S K Nayak and the co-pilot bailed out using parachutes. They have been admitted to hospital and injuries, to them ,if any, are not known.
Police said seven dead bodies had been recovered from the site of the wreckage and rescue efforts were underway.
The jet took off at 0937 IST from Adampur and crashed at 1010 IST here.
Several fire tenders were also pressed into service to put out the huge flames after the bank building and a few adjacent buildings caught fire under the impact of the crash of the jet.
Eyewitnesses said they saw the rear of the jet in fire during the flight and came crashing down on the Bank of Rajasthan building after a blast.
There was no immediate confirmation whether the jet had caught fire in the air.
The services of the Army has been requisitioned to assist the civil administration, the Deputy Commissioner K Shiva Prasad said.
The cause of the crash is yet to be ascertained.
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Mayawati becomes U P CM for the third time
Lucknow,Friday, May 03, 2002: School-teacher-turned politician Mayawati, who became the Chief Minister of Uttar Pradesh for the third time in seven years today, has worked assiduously to shed the image of being just a Dalit leader after making inroads into the upper caste bastion in the recent elections.
Having been the Chief Minister for not more than six months before, forty-seven year old Mayawati has been pitchforked to head the most populous and politically sensitive state as she expanded her voter base to help her Bahujan Samaj Party (BSP) gain wider acceptability.
Often dubbed enigmatic, Mayawati, who shares her birthday (January 15) with American civil rights leader Martin Luther King Jr, had once aspired to join the Civil services after her college but she was drawn towards the BSP supremo Kanshi Ram who founded the party on Aril 14, 1984.
Affectionately called "Behanji", Mayawati's initial brush with politics was rough when she lost two bye-elections to the Lok Sabha from Bijnore and Haridwar in 1985 and 1987.
But, it was third time lucky for her when she made her Parliamentary debut winning from Bijnore in the 1989 general elections and has never looked back since then.
The meteoric rise of Mayawati, who is a spinster, culminated in her becoming the Chief Minister for the first time on June 3, 1995 when BSP tasted power in alliance with BJP after she dumped Samajwadi leader Mulayam Singh Yadav.
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Cyclonic storm hits W. Bengal, Assam and Sikkim, seven dead
Kolkata,Friday, May 03, 2002: A cylonic storm accompanied by rain swept through the Eastern states of West Bengal, Assam and Sikkim leaving seven dead, five injured and a trail of destruction in its wake last night.
The casualties were reported from West Bengal's South 24 Parganas, East Midnapore and Howrah districts, IGP (Law and Order) Chayan Mukherjee told newsmen here today.
The victims, included three persons from South 24-Parganas and two from Midnapore East districts, while two persons were feared dead in a boat capsize in the Roopnarayan river in Howrah district near Kolaghat during the cyclonic storm, he said.
The deaths in East Midnapore were caused by falling trees and wall collapses with the storm affecting Contai, parts of Tamluk, Mahishadal, Sutahata and Haldia, Mukherjee said.
Power supply to Mahishadal and Sutahata were snapped as electric poles toppled over. A large number of trees were also uprooted.
A Guwahati report said a severe thunderstorm with a wind speed of over 100 km per hour expected to strike Western Assam and Meghalaya today weakened though heavy rains threw normal life out of gear with several areas inundated and power supply affected.
The red alert over the storm sounded by the state government to district and sub-divisional headquarters continued with the authorities asked to take appropriate measures to tackle the situation.
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Indian tree sap may lower cholesterol
A tree resin used for 2,000 years as an Indian folk remedy for a variety of ailments works to lower cholesterol in lab animals, and in a new way that might lead to the development of improved drugs for people, U.S. researchers report.
THE TREE is known in India as guggul, or the myrrh shrub. It’s been used there since at least 600 BC to battle obesity and arthritis, among other ailments.
David D. Moore, a molecular biologist at the Baylor School of Medicine in Houston, found the guggul extract lives up to its reputation.
In studies at his lab, Moore and Nancy L. Urizar showed the sap contains a compound, called guggulsterone, which blocks the action of a cell receptor, called FXR, which helps regulate a body’s cholesterol level, according to their report in the journal Science.
FXR helps regulate cholesterol by affecting levels of bile acids, which are produced from cholesterol and released by the liver.
“Bile acids are the only way that cholesterol has to get out of the body,” Moore said. “We knew that FXR was a key regulator of cholesterol metabolism.”
Dr. Mitchell A. Lazar, an endocrinologist at the University of Pennsylvania, said the study is important because it suggests a new drug pathway for controlling cholesterol.
The guggul tree, known technically as Commiphora mukul, grows in dry areas of India, Pakistan and Afghanistan. For thousands of years, folk healers have tapped the trees to make medicines.
About 40 years ago, an Indian researcher found that the guggul compound also was effective in combating heart disease, a condition linked to cholesterol. Later studies in India showed that guggulsterone lowered cholesterol, and Indian health authorities approved the sale of the resin for treatment of heart disease.
Moore said more than 300 tons of the resin is used annually for medical purposes in India.
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Ernst & Young to acquire Arthur Andersen's India operations
Ernst & Young is acquiring Arthur Andersen's operation in India, a spokeswoman for the Big Five accounting firm told Reuters on Friday.
Ernst & Young has called a press conference at 3 p.m. (0930 GMT) in Bombay to announce details of the acquisition, the spokeswoman said. She declined to provide further information.
Andersen, a Chicago-based Big Five accounting and consulting firm, faces trial beginning on May 6, charged with obstructing justice by allegedly destroying thousands of records relating to bankrupt energy trading giant Enron Corp (ENRNQ).
A flurry of civil lawsuits have also been filed against Andersen by investors and ex-employees who lost billions of dollars from Enron's bankruptcy, threatening the financial collapse of Andersen, prompting many clients to take their business elsewhere.
Ernst & Young currently has more than 1,000 employees and offices in seven major Indian cities -- New Delhi, Bombay, Calcutta, Bangalore, Madras, Hyderabad and Pune.
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Bharat Shah appears in MCOCA court for trial
FOR the first time after his discharge from hospital, film financier Bharat Shah appeared before the Maharashtra Control of Organised Crime Act (MCOCA) Court which which will conduct a trial into his alleged links with the underworld.
Shah’s application for discharge from the case was to be taken up today. However, Public Prosecutor Rohini Salian sought time until Friday to file her say. Shah, wearing a grey T-shirt and black trousers, was accompanied by his doctors. The court had earlier granted him exemption till April 30, 2002, to appear before the court due his treatment at Leelavati Hospital. Shah’s discharge application has pointed out that the prosecution has no material to prove the alleged offences against him. Judge A P Bhangale also heard at length arguments advanced by senior advocate Majeed Memon urging the court to grant bail to Abdul Rahim Allabaksh.
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India mum on Musharraf's referendum win
India, locked in a four-month military face-off with Pakistan, refused to comment on Thursday on President Pervez Musharraf's victory in a referendum that gives him five more years in power.
"We have seen the results of the April 30 referendum. We have no comments to offer," External Affairs Ministry spokeswoman Nirupama Rao told reporters.
Musharraf, who seized power in a bloodless coup in October 1999, won a landslide victory on Wednesday in a referendum to extend his rule but allegations of poll fraud tarnished his win.
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SC serves notice to Gujarat on CBI probe
The Supreme Court on Friday issued notices to the Gujarat government, its home secretary and director general of police on a petition seeking CBI probe into all incidences of communal riots including the Godhra incidents which left nearly 1,000 people dead.
A three-judge Bench of Chief Justice S P Bharucha, Justice B N Kirpal and Justice Shivaraj V Patil issued the notices after hearing senior counsel Anil Divan for petitioner D N Pathak and 15 others, all of whom claimed to be social activists.
The Bench, after issuing notices on this petition, ordered listing of the petition for hearing along with a PIL filed by Dr Mallika Sarabhai and others who had alleged that the state machinery was biased against minority during the recent riots and sought setting up of a special investigating team to probe into it.
The court, on Sarabhai's petition, had issued notices to Gujarat Chief Minister Narendra Modi, the Vishwa Hindu Parishad and the BJP.
Pathak and others in their petition sought a direction from the court to the state to hand over to the CBI investigation into all incidents of communal violence which took place on and after February 27, when scores of kar sevaks were burnt to death.
The petitioners also requested the court to hand over to the CBI all cases in which "any person from the police or ruling party may have been named or indicated as an accused."
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Grand old man of Indian hotel industry M C Oberoi dead
New Delhi,Friday, May 03, 2002: Rai Bahadur Mohan Singh Oberoi, the grand old man of the Indian hotel industry, who died at the ripe old age of 103, was a classic symbol of an inspiring rags to riches story of contemporary India.
Oberoi single handedly built an empire of 37 luxury and first class international hotels in seven countries after he began his carees as a desk clerk at the Cecil Hotel, Simla.
Born on August 15, 1898, in Bhaun, a small village in the Jhelum district (now in Pakistan), Rai Bahadur Oberoi was only six-months-old when his father died and life was a struggle for him after that.
He has gone a long way since he acquired his first property-- The Clarke's Hotel in 1934 in Shimla, the then summer capital of India by mortgaging his wife's jewellery and all his assets.
Four years later, he signed a lease to takeover operations of the 500 room Grand Hotel in Calcutta which was up for sale following a cholera epidemic which he turned into a highly profitable business venture.
He then went on, in 1943 to acquire The Cecil and Corstophans in Simla, the Maidens and the Imperial in Delhi and a hotel each in Lahore, Murree, Rawalpindi and Peshawar.
Having consolidated his earlier ventures, Rai Bahadur Oberio entered into an agreement with a global hotel chains, to open the first five star international chain in the country, The Oberio Intercontinental, Delhi, in 1965.
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Powergrid to invest Rs 550 bn in telecom in 10th and 11th plan
Bangalore,Friday, May 03, 2002: The Power Grid Corporation of India Limited has proposed to invest Rs 550 bn in transmission and telecom sectors in the 10th and 11th plan periods, senior company officials said today.
According to the company's Director (Operations), Bhanu Bhushan, the company has continued to put up an impressive performance, recording Rs 28.50 bn in turnover and notching a net profit of Rs 7.60 bn during 2001-02, compared to the previous year's figure of Rs 26.83 bn and Rs 7.42 bn.
Asked about a proposal to supply power to Pakistan by the company, its Executive Director (Corporate Communication) S K Chaturvedi said it has been dropped for the time being, and indicated that it might be taken up again once the relations between the estranged neighbours improve.
Company officials said the Corporation is diversifying into the telecom sector in a big way, and has proposed to expand optical fibre network to about 140 bn km connecting 56 major cities by next year.
Capacity agreements valued at Rs 75 mn have already been signed with major telecom service providers.
Meanwhile, the setting up of an ultra-modern Load Despatch Centre here, under the Unified Load Despatch & Communication Project, at an estimated cost of Rs 621 crore, is in advanced stage of completion.
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Software exports from Karna touches over Rs 9000 crore
Bangalore,Friday, May 03, 2002: Weathering the global IT slowdown, software exports from Karnataka touched Rs 99.03 bn during 2001-2002, reflecting a robust 33 per cent jump, ahead of the national growth rate.
Last fiscal, Karnataka had exported software worth Rs 74.75 bn and its performance this year is against the national software and software services export growth of 29 per cent announced by NASSCOM yesterday.
Briefing reporters on the state IT sector performance, Software Technology Parks of India (STPI) executives said Karnataka's growth is the highest among the software growth centres in the country.
For the fiscal ended March 31, 2002, two companies achieved more than Rs 10 bn, 13 companies over Rs one bn and 95 companies in the range of Rs 100 mn and Rs one bn, STPI-Bangalore Director B V Naidu said.
In Bangalore, he said, 110 companies were registered during the last fiscal, 60 per cent of which were 100 per cent Foreign Equity companies.
Notably, the Electronic Hardware Technology Park (EHTP) companies have also grown with the overall hardware exports reaching Rs 839 crore, recording an impressive 129 per cent rise over last year, Naidu said.
"Inspite of September 11 attack, Bangalore continues to attract one new 100 per cent Foreign Equity company every week," Karnataka IT Secretary Vivek Kulkarni said adding "the 129 per cent growth of hardware sector was also fantastic".
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Trade unions to observe protest day on May 15
New Delhi,Friday, May 03, 2002: Major Central Trade Unions today called for observance of 'National Protest Day' on May 15 against the "genocide" in Gujarat and described the Rs.150 crore relief and rehabilitation package announced by the Prime Minister as "too small and too inadequate".
"The Central Government must allot funds not less than Rs 10 bn immediately for relief, rehabilitation, repairs and construction of the buildings," a delegation of leaders of the Trade Unions, which visited Ahmedabad yesterday, said.
The delegation comprised leaders of INTUC, AITUC, CITU, UTUC, UTUC (LS), TUCC and All India Banking Employees Association (AIBEA), according to AITUC General Secretary Gurudas Das Gupta.
Das Gupta, who led the delegation, said in a release that most of the relief camps did not have basic facilities and supply of daily ration and medicine was inadequate.
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After a pristine performance, India produce a flop show
Bridgetown,Friday, May 03, 2002: The jubiliation of the historic win in Port of Spain evaporated in thin air as the Indians put up a contrastingly dismal batting performance to crash to a lowly 102 all out on the opening day of the third cricket Test against West Indies here.
If the win in the second Test was a saga of team effort, Thursday's pathetic performance was a result of the combined failure of all the Indian batsmen save skipper Sourav Ganguly who scored nearly 50 per cent of the runs after West Indies had sent the tourists in to bat on a hard and bouncy track.
Ganguly, coming at the fall of Sachin Tendulkar who was out for a second ball duck, was the last man to be dismissed for a well-made 48 when he was caught superbly by Mervyn Dillon at the point boundary.
The catch capped an excellent day for Dillon who finished with four wickets, including that of opener Shiv Sunder Das off the very first ball of the match, and two catches.
West Indies reached 33 for one in reply when the fourth rain intervention forced play to be called off for the day. Chris Gayle was batting on 14 while Ramnaresh Sarwan was yet to open his account after Zaheer Khan had sent back Stuart Williams in his very first over for 18.
India's opening blues continued with their third pair in as many matches also failing to give them a good start. Das, who has struggled badly on this tour, was beaten for pace while his new partner Wasim Jaffer snicked Dillon to wicketkeeper Ridley Jacobs to give him the first of his three catches.
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Anand to clash with Karpov for Eurotel trophy
Prague,Friday, May 03, 2002: Former World Champions Viswanathan Anand and Anatloy Karpov will battle it out in the final of the Eurotel World Chess tournament here tomorrow.
Anand avenged his last year's defeat to Ukranian Vassily Ivanchuk in the World Chess championship in Moscow pipping Ivanchuk 1.5-0.5 in the blitz games after the rapid games of the semi-final match ended in a 1-1 deadlock last night. Karpov's dream run continued when he outsmarted Latvian born Spanish GM Alexei Shirov 2-0 in the blitz games. The Indian ace dished out a mixture of attack and defence as he scaled past Ivanchuk, who had upset World No. 1 Gary Kasparov in the quarter-finals. After holding Ivanchuk with black in the first blitz game Anand was at his tactical best in the second game. He employed one of the popular variations in the Sicilian Classical and gained control of the light squares with excellent manoeuvering of his Bishop. The rook and minor pieces endgame arrived soon but Ivanch- uk had few problems on his queenside with his weakened pawns.
The Ukranian allowed Anand a passed pawn who won a peice on the 53rd move. Ivanchuk struggled for survival in the next ten moves before giving up.
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Ganguly needs more time at the helm: Clive Lloyd
New Delhi,Friday, May 03, 2002: Sourav Ganguly found an unexpected support from West Indian great Sir Clive Lloyd who felt the Indian skipper was "maturing" as captain and should be given a long stint.
"Captaincy is not easy. You don't become a great captain in just a couple of years. I think Ganguly is improving, getting better as captain," Lloyd, himself the most successful captain of West Indies, said at a function here Thursday.
"Ganguly is maturing. He has the team behind him. And with a few good scores he is coming back into his own as a batsman. You have to give more time to Sourav.
"And besides, a captain is only as good as his team," he said.
Lloyd said India had a fine nucleus for a great team with some very talented players but must find a reliable opening pair and a good wicketkeeper who can bat reasonably well.
"A good opening pair, a good wicketkeeper and probably one or two more quality bowlers... India must find them ... and they would be a truely great side.
Lloyd also wanted India to do away with their over- dependance on Sachin Tendulkar. "One man does not make a team," he said while dismissing criticism that Tendulkar has not been able to win many matches for the country.
"Why should only Sachin make runs. What about others? India must realise that it has to be a collective effort. When others do their stuff, Sachin can play more freely and would be able to win more matches.
"He is a wonderful cricketer. If he stays long enough all the records are open for him," he said.
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Sensex: 3372.56, +34.40
The sensex closed at 3372.56, up 34.40
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1 U.S. $ = 48.90 INR
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Temperature: 90 F / 32 C
HeatIndex: 94 F / 35 C
Humidity: 49%
Dew Point: 68 F / 20 C
Wind
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Pressure: 29.62 in / 1003 hPa
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Clear
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Sunrise : 06:07 AM (IST)
Sunset : 06:58 PM (IST)
Moonrise : 01:09 AM (IST)
Moonset : 11:34 AM (IST)
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