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Headlines
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News:
Three new ministers sworn in DF govt to avert crisis
Pak resorts to heavy artillery firing in Siachen, Kargil
UNICEF appreciates India over registration of births
Ranbaxy gets US FDA nod for generic Vantin
Stop cross-border terrorism: Vajpayee to Musharraf
Consulates say: 'We aren’t following in UK’s footsteps'
Pak police stops Indian High Commission staffer from leaving
Pak to pay USD 1.8 mn to India as "data transmission charges"
Reliance takes control of IPCL
Govt to tighten inspection to check misuse of export sop
Adequate security for onshore, offshore oil facilities: ONGC
Rupee hovers around record lows against USD
HLL, MTNL gains lift sensex by 31 pts
Bhupathi-Mirnyi move into French Open semis
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Sensex: 3191.60, +30.51
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News
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Three new ministers sworn in DF govt to avert crisis
Mumbai,Tuesday, June 04, 2002: The two-and-a-half-year old Democratic Front Government in Maharashtra, which was pushed to the brink with eight independents withdrawing support, today managed to ward off a crisis by inducting three independents into the cabinet.
In a deft damage-control move, three independents, Harshavardhan Patil, Vinayak Jadhav and Shivajirao Kardile were sworn-in by Governor Dr P C Alexander at a hurriedly organised ceremony at Raj Bhawan here this morning.
While Patil was inducted as a cabinet minister, the other two were sworn-in ministers of state. However, the portfolio of the trio was yet to be decided.
Putting up a confident front, Chief Minister Vilasrao Deshmukh reiterated that the Congress-NCP led coalition still enjoyed the support of the majority in the 288-member House.
"I am ready to prove our majority if required. The very fact that the Governor has agreed to swear-in three ministers was ample evidence of the fact that the DF still enjoyed majority support," he said.
Flaying the Sena-BJP opposition for adopting strong pressure tactics to wean away its supporters, he said "the use of such pressure tactics was deplorable in a democratic set up as they went against the democratic principles and was an unhealthy trend".
"But let me make it clear that such pressure tactics will never work," he said.
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Pak resorts to heavy artillery firing in Siachen, Kargil
Jammu,Tuesday, June 04, 2002: Pakistani troops have resorted to heavy artillery and mortar shelling in Siachen since Monday evening, while one person was killed in Poonch district in the shelling, a spokesman of the Northern Command said here today.
Indian troops retaliated and the exchange of fire in Siachen continued till this morning, he said adding, however, no one was injured on the Indian side.
Small arms and mortar shelling between the two sides was also reported in Kargil, Drass, Batalik, Poonch, Noushera and Akhnoor sectors Monday night.
However, firing resorted along the International Border (IB) in Jammu and Kathua districts during last 24 hours, was by use of small arms, he said.
Reports from Poonch district said one person was killed and three women were injured in Swajian area in Pak shelling Monday evening.
The injured were later shifted to the district hospital, the reports added.
Intermittent exchange of fire along the IB was reported since Monday evening at Pital Pindi, Tabowal, Mehta Post, Zero Point, Srinagar Highway, Sangral, Mangral, Karotna, Khurd, Kharkhala, Gharana, Jora Farm, Abdullian, Amk, Chamliyal, Narianpur, S M Pur, Jatwal, Kandral, Suchetgarh, Kulian, Galar and Fiqira Chak.
However, no damage or casualty was reported on the Indian side, the spokesman added.
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UNICEF appreciates India over registration of births
United Nations,Tuesday, June 04, 2002: Appreciating India's campaign for child registration and use of media for the purpose, UNICEF today said more than 50 million babies born all over the world in year 2000 were not registered, denying them identity, name or nationality.
"These children have no birth certificate, the 'membership card' for the society that should open the door to a whole range of other rights including education and healthcare, participation and protection," says the report titled 'Birth Registration - Right from the Start'.
"A birth certificate is one of the most important pieces of paper a person will ever own," said Carol Bellamy, UNICEF Executive Director. "If we do not get it right from the start and register babies, it is an up-hill battle from there on."
The report praises the Indian effort which includes establishing national registration campaigns operating in 15 different languages and use of television and radio, posters, stickers, billboards, and publicity and documentary films.
Unregistered children lack the basic protection against abuse and exploitation and become a more attractive commodity to a child trafficker, illegal adoption rings, and others who seek to take advantage of their non-status, Bellamy said.
At least 60 per cent children under the age of five were not registered at birth in 19 countries, the report says, adding without any proof of age, these children would face discrimination and lack of basic services.
The unregistered child may be unable to apply for a passport or formal job, open a bank account, get a marriage licence, stand for elective office or vote, it adds.
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Ranbaxy gets US FDA nod for generic Vantin
India's top drugmaker by sales, Ranbaxy Laboratories, said on Tuesday its U.S. unit had received approval from the U.S. Food and Drug Administration (FDA) for its generic version of Pharmacia Corp's (PHA) Vantin antibiotic.
Ranbaxy (RANB) said in a statement that its fully owned subsidiary, New Jersey-based Ranbaxy Pharmaceuticals Inc, had received the FDA approval for a suspension form of cefpodoxime proxetil, the generic name for Vantin.
Ranbaxy's statement said Pharmacia's sales of Vantin suspension totalled $15.3 million in 2001.
A Ranbaxy spokesman told Reuters that Pharmacia had filed a preliminary injunction with a New Jersey Federal District court seeking to stop Ranbaxy from selling the drug, and a court decision was expected in the July-September quarter.
He said Ranbaxy had also filed for marketing approval for Vantin tablets.
Ranbaxy's shares were down 0.19 percent at 781 rupees in early afternoon trade on the Bombay Stock Exchange, whose benchmark index was up 0.7 percent.
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Stop cross-border terrorism: Vajpayee to Musharraf
Almaty,Tuesday, June 04, 2002: Indo-Pak tension overshadowed the first ever Asian security summit here today with Prime Minister Atal Bihari Vajpayee, sharing the table with Pakistan President Pervez Musharraf, saying India faced dangerous terrorsim having its epicentre in the neighbourhood and declaring that it would take "appropriate consequent steps" once cross-border terrorism was stopped.
"Unfortunately, we have to face dangerous terrorism, religious extremism. Its epicentre is in our neighbourhood," Vajpayee told the 16-nation summit after Musharraf said India should return to the path of dialogue and negotiations.
Musharraf told the summit, attended among others by Russian President Vladimir Putin and Chinese President Jiang Zemin, that Islamabad had stated repeatedly that "instead of accusations, threats and dangerous escalation, India should return to the path of dialogue and negotiations, which is the only sane option, especially in the dangerous environment of South Asia."
The Prime Minister told the Conference on Interaction and Confidence Building Measures in Asia (CICA) that "Terrorist camps continue across our border. ...if we see that action on the ground corresponds to the promises made by Musharraf, we will naturally take appropriate consequent steps."
Referring to Pakistani leader's offer of an Indo-Pak dialogue, he said "it is India which has always taken the initiative. In the space of last four years, I have been to Lahore and invited President Musharraf to Agra."
"We have repeatedly said that we are willing to discuss all issues with Pakistan but for that cross-border terrorism has to end," he asserted.
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Consulates say: 'We aren’t following in UK’s footsteps'
(Indian Express)
THE exodus of nearly two-thirds of the diplomatic staff of the Deputy British High Commission has not seen other countries following suit. Several Western nations had issued advisories to non-essential staff to leave due to the tension on the border. But the staff of France, Germany, Denmark and Russia believe there will be no war and the skirmish, if any, would be limited to Kashmir.
AMERICA: Elizabeth Corwin, director of the American Center, said families which are planning to leave are those who have merely advanced the dates for their vacation. ‘‘There is no plan at present for the diplomatic staff to leave,’’ she said.
FRANCE: H Laroche, an Attache in the Consulate, said, ‘‘Till Saturday, none of the French diplomatic staff wanted to leave. Visa section, the Consulate and the trade commission will carry on its activities as before.’’ Asked whether he feared an outbreak of war, Laroche felt the fighting would be localised around Kashmir.
RUSSIA: V Totchayn, spokesperson of the Consulate, said their government has no plans of recalling staff. ‘‘Tension is there but our president is trying his best to resolve the issue. Those who have left or are planning to leave are going on their annual summer vacation,’’ he said.
GERMANY: German Consul Hauser said though a cautionary note has been issued, there does not seem to be a big rush to leave. ‘‘At least in Mumbai, none of our staff have plans to leave. Of the eight German nationals, three have already left for a holiday. Some German nationals who might have left were mostly dependents,’’ said Hauser.
DENMARK: Signe Ropke, PRO with the Embassy in Delhi, said, ‘‘Our staff is not planning to leave. We have nine diplomats who, along with their family, total 15-16 persons. Though we feel there will be no war, rising tension has prompted us to ask them to consider leaving.’’
JAPAN: The Japanese government on Saturday asked its citizens to consider leaving. But Chief Consul Samu Kawa in Mumbai said that Japan has no plans to reduce its staff at its consulates or the Embassy in Delhi. ‘‘We want both countries to avoid conflict but tensions are rising and we are worried.”
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Pak police stops Indian High Commission staffer from leaving
Islamabad,Tuesday, June 04, 2002: Pakistani police prevented the convoy of vehicles of the Indian High Commission carrying injured staffer Kulwant Singh and his family to Wagah border this morning.
A senior diplomat of the Indian High Commission said that Singh, his family members and the medical staff were stopped by the police about 50 kms from Lahore and told to return.
Singh sustained serious injuries after being abducted and interrogated allegedly by Pakistan intelligence officials three days ago.
The diplomat said the decision to shift Singh immediately to India for urgent medical treatment was taken as he was not being allowed proper medical care here.
The injured staffer was due to be shifted by road to India in an ambulance Monday. But the ambulance backed off in the last minute. So, the High Commission sent Singh in its own vehicles this morning after obtaining necessary permissions from Pakistan government, he said.
The diplomat said the High Commission officials here immediately took up the issue with the Foreign Office to permit Singh to travel back without hindrance.
Due to serious injury to pelvic region, Singh was not in a position to sit and was made to travel lying down, he said.
Singh's convoy was not permitted to leave till mid-afternoon, causing serious concern about his health, the diplomat said. The convoy stood on the road waiting for orders, he said.
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Pak to pay USD 1.8 mn to India as "data transmission charges"
Islamabad,Tuesday, June 04, 2002: Pakistan will pay to India an amount of 1.8 million dollars as "data transmission charges" during the upcoming season for advance flood forecast and daily information supply on river situation, according to media reports.
An agreement to this effect was reached during the meeting of Permanent Commission on Indus Waters (PCIW) concluded in New Delhi two days ago, Pakistani daily the Dawn said quoting official sources.
India, however, will not provide flood data on Thein Dam on river Ravi and Reasi on river Chenab, it said.
Pakistan's permanent commissioner on Indus Waters, who returned from New Delhi on Monday, briefed the 37th meeting of the Federal Flood Commission (FFC) over telephone from Lahore about the agreement.
When contacted the FFC Chairman, Riaz Ahmad Khan, confirmed that "an agreement has been reached (at the Delhi meeting) under which India would continue providing information on flood situation to Pakistan with effect from July 1, 2002."
He said under the Indus Water Treaty of 1960, Pakistan was required to pay "normal nominal charges for data transmission".
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Reliance takes control of IPCL
New Delhi,Tuesday, June 04, 2002: Reliance today took over the management control of IPCL after paying a cheque for Rs 14.9 bn to the government for the 26 per cent stake, but dispelled the fear of market abuse due to the group getting virtual monpoly in the petrochemcial sector, saying the products were freely traded.
Reliance Industries Executive Director Nikhil Meswani handed over the cheque to Ashok Chawla, Joint Secretary, Petrochemicals Ministry after signing of the agreement with the government for share transaction.
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Govt to tighten inspection to check misuse of export sop
New Delhi,Tuesday, June 04, 2002: With exports sops increasingly being misused, Government is tightening inspection of exports and imports from free ports, especially from Dubai, Hong Kong and Singapore.
With the process of liberalisation gathering momentum, significant changes in commercial frauds have been noticed, official sources told PTI.
"Thus exports or imports from/to free ports, especially from Singapore, Hong Kong and Dubai, need careful examination."
This move comes as part of efforts to contain the frauds in bilateral/multilateral trade, especially in the wake of Government's urge to push up exports and attain the magic one per cent level in world market by 2006-07.
Rampant misuse of schemes of Duty Exemption Entitlement Scheme (DEEC), Export Promotion Capital Goods (EPCG), 100% Export Oriented Units (EOU), Duty Entitlement Pass Book (DEPB) and Duty Drawback have been detected, apart from the problems of under-invoicing and mis-declaration of goods and its value, sources said.
Violation of DEEC schemes ranged from outright diversion of duty free imports without fulfilment of export obligation to over-invoicing of export orders and subsequent transfer of duty free licences through market process.
Over-invoicing of export commodities included readymade garments, pharmaceuticals, articles of ferrous and non-ferrous metals, marble, glassware and articles of plastics.
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Adequate security for onshore, offshore oil facilities: ONGC
New Delhi,Tuesday, June 04, 2002: State-run Oil and Natural Gas Corporation (ONGC) today said adequate steps have been taken to provide security to all onshore and offshore oil and gas installations, with defence forces providing cover to the assets.
"The security arrangements of the oil and gas installations are well-coordinated with the defence forces. A detailed plan, drawn much earlier, is in place to provide cover to the company's 200 oil installations and assets," ONGC Chairman and Managing Director Subir Raha told reporters here.
Security for onshore installations is managed by the company with the help of Central Industrial Security Force (CISF) while security cover to the offshore facilities is provided by the Coast Guards in coordination with the security forces, he said.
He, however, declined to comment on whether Indian Air Force and battleships of Indian Navy were providing security cover to ONGC's offshore facilities particularly Mumbai High field, which produces roughtly two-third of the country's crude oil.
Raha said a well laid out plan for cover to all oil producing wells and installations and pipelines was being implemented.
While Indian coast guards were maintaining 24-hour vigil near oil refineries and exploration sites on both the western and eastern coasts, Mumbai High offshore oil fields were in the hands of Offshore Defence Advisory Group, comprising officials of Western Naval Command, state government and ONGC.
Remote surveillance systems are also used for monitoring security of sensitive installations, sources said.
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Rupee hovers around record lows against USD
Mumbai,Tuesday, June 04, 2002: The rupee hovered around record lows against the US currency early today, driven down by steady dollar demand from banks amidst receding supplies owing to the ongoing uncertainties on the subcontinent.
In moderately active but nervous trade at the Interbank Foreign Exchange market here this morning, the rupee slipped to a life-time lows of Rs 49.05/06 struck on May 23. The rupee opened cautiously weak at Rs 49.04/05 per dollar.
Persistent dollar demand from banks in the face of dwindling dollar supplies from foreign funds inflows continued to weigh heavily on the rupee owing to the prevailing uncertainties on the borders, dealers said.
In cross currency trades, the Euro was quoted at Rs 46.19/21, Pound Sterling at Rs 71.75/77 and Japanese Yen (100) at Rs 39.65/67.
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HLL, MTNL gains lift sensex by 31 pts
Mumbai,Tuesday, June 04, 2002: Led by Hindustan Lever Ltd (HLL), select heavyweight counters hogged the limelight pushing the sensex up by 31 at close on the Bombay Stock Exchange (BSE) today on fresh buying support from speculators as well as moderate purchases by Foreign Institutional Investors (FIIs).
Responding positively to reports that both India and Pakistan don't want war, investors, mainly punters, made fresh purchases in select key stocks like HLL, MTNL, Grasim Ind, RIL, Tisco and some second-line shares.
FIIs, which resorted to heavy sell-off during last week, were believed to be fairly good buyers in shares of Public Sector Undertakings (PSUs) while selling off software stocks.
Depicting the selective rally, the BSE benchmark 30-share Index that opened marginally up at 3161.43, later moved upwards to the intra-day high at 3195.56 before ending at 3191.60 as against yesterday's close of 3161.09, netting a gain of 30.51 points or 0.97 per cent.
The broad-based BSE-100 Index firmed up by 11.61 points to 1630.11 from previous close of 1618.50.
Though the market discounted a sharp setback in New York shares last night with the Dow Jones Industrial Average and the Nasdaq Composite Index dipping by 215.46 points and 53.17 points respectively, dealers said consistent sale off by FIIs and the Unit Trust of India (UTI) during last week had an adverse impact on the sentiment.
Domestic institutions, however, were selling in select PSU stocks, dealers added.
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Bhupathi-Mirnyi move into French Open semis
New Delhi,Tuesday, June 04, 2002: The Indo-Belarussian pair of Mahesh Bhupathi and Max Mirnyi has moved into the semifinals of the French Open doubles event in Paris.
Third seed Bhupathi and Mirnyi beat Martin Damm and Cyril Suk of Czech Republic 4-6 6-4 7-5 in a quarterfinal match yesterday at the Roland Garros, according to information received here today.
The other Indian in fray, Leander Paes, partnered by Tomas Cibulec of the Czech Republic, will play the American pair of Bob Bryan and Mike Bryan in a quarterfinal match later today.
Meanwhile, in the mixed doubles event, Bhupathi, teamed up with Russian Elena Likhovtseva, defeated Camille Pin and Arnaud Clement of France 6-4 4-6 6-2 in the second round.
However, the challenge of Paes, partnering Lisa Raymond of the US, ended when the pair when down to Elena Bovina (Russia) and Mark Knowles (Bahamas) 3-6 6-7 (2/7) in the second round.
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Sensex: 3191.60, +30.51
The sensex closed at 3191.60, up 30.51
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Forex
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1 U.S. $ = 48.97 INR
1 Japanese Yen = 0.40 INR
1 British Pound = 71.77 INR
1 Canadian $ = 32.05 INR
1 Singapore $ = 27.45 INR
1 UAE Dirham = 13.33 INR
1 Saudi Arabian Riyal = 13.06 INR
1 Euro = 46.26 INR
1 Qatar Rial = 13.45 INR
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Weather
| Temperature : 88 F / 31 C
HeatIndex : 98 F / 37 C
Humidity : 66%
Dew Point : 75 F / 24 C
Wind : West at 12 mph / 19.3 km/h
Wind Gust -
Pressure : 29.62 in / 1003 hPa (Steady)
Conditions : Scattered Clouds
Visibility -
Clouds (FEW): 2000 ft / 611 m Scattered Clouds(SCT): 2500 ft / 764 m
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Admin Message
Yesterday's newsletter had the transcript of the Indian Ambassador's appearance on a US TV show. This link has the transcript of the Pakistan Ambassador's discussion on the same show:
http://www.foxnews.com/story/0 2933,54306,00.html
Regards,
Harshal
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