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[Grapevine] For 10 Jul, 2002



Title: The Mumbai Grapevine
The Mumbai Grapevine Connecting Mumbaikars with Mumbai
(Published by Mumbai-Central.com)
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Headlines
News:
Arrest of Vaiko imminent
India offers to hold global meet on AIDS
Paswan for an Oppn consensus Vice-Presidential candidate
Vaccine for Diarrhea Being Tested
Powell to visit India, Pakistan
US "anxious" to get through Indo-Pak crisis
Woman kills herself in local train
No interim budget, but relook at NPA ordinance:Jaswant
Infosys Q1 net up by 14.11 per cent
Global accounting scams sound warning bells: PM
Tendulkar could still open innings in one-dayers: Wright
ANC Youth League threatens to wreck World Cup
ICC Security Manager on familiarisation trip
We could not capitalise on the conditions, says Ganguly


Markets:
Sensex: 3332.36, -26.22




Forex, Metals and Weather below

News
Arrest of Vaiko imminent
Chennai,Wednesday, July 10, 2002: The arrest of MDMK leader Vaiko, who is now in the U S, is imminent when he arrives here Thursday after police obtained an arrest warrant in connection with a POTA case for allegedly making pro-LTTE remarks.

Protesting the move to arrest Vaiko, MDMK leaders said here the party workers would picket at various places in the city on Friday in the event of Vaiko's arrest.

MDMK South Chennai District Secretary K Thyagarajan accused the AIADMK Government of "political vendetta" by invoking POTA.

In a late night development Tuesday, Thirumangalam Judicial Magistrate S Venkatachalapathy issued an arrest warrant against Vaiko who was slapped with a POTA case for allegedly making pro-LTTE remarks on June 29.

With the issue of non-bailable arrest warrant (NBW), police said Vaiko could be arrested when he arrives here from Chicago Thursday.

The arrest warrant against Vaiko came on the same day when police invoked POTA for the first time in Tamil Nadu arresting eight MDMK men remanding them to 30 days judicial custody.

Vaiko had been charged with making pro-LTTE utterances at a public meeting at Thirumangalam near Madurai on June 29, where he allegedly said "he had supported the banned LTTE yesterday, would support it today and tomorrow."

The Magistrate had first declined to issue a NBW against Vaiko, though he issued NBWs against eight others of MDMK. But, he later issued the arrest warrant against Vaiko after the Tamil Nadu police moved the court last night seeking NBW against him.


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India offers to hold global meet on AIDS
(times news network)

BARCELONA: India on Wednesday offered to host the 16th International Conference on AIDS in Delhi in 2006. The 15th International Conference on AIDS will be held in Bangkok.

Announcing India's willingness to host the 16th International Conference on AIDS at the plenary session on "prevention strategies for the 21st century" Union Health Minister, Shatrughan Sinha, said that he would attempt to bring in innovative initiatives in this area.

Sinha said he would also make efforts for the convening of a special session of the Parliament to discuss the issue of HIV and AIDS. "I also propose to convene a meeting of health ministers of Saarc and South-East Asian countries to discuss strategies to combat the disease.

Replying to a query at a press conference, Sinha that India was capable of holding the 16th International Conference and being host to about 20,000 delegates.

The incoming executive director of Global Fund, Richard Feachem, said that he too would like the 16th International Conference to be held in India.
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Paswan for an Oppn consensus Vice-Presidential candidate
Srinagar,Wednesday, July 10, 2002: Lok Janshakti Party president Ram Vilas Paswan today asked all secular parties to put up a consensus candidate for the post for the vice-president in order to defeat the BJP candidate.

"The post of vice-president is very powerful in abnormal situations. The secular parties should unite and put up a consensus candidate to keep out the BJP candidate from this office," Paswan, who is on a two day tour of the valley told reporters here.

Asked whether there would be a conscience vote for the election of Vice-President, he said ''there is no conscience in BJP. The members will have to follow the party whip.''

''It is for the allies to decide how they vote,'' he said.

On the future of NDA government at centre, Paswan pointed that ''it is a number game''.

''Till the numbers are with them, they will continue to rule. But that does not mean that the country is doing well,'' he added.

There were "too many voices" within NDA, he said wondering ''how can this government be effective.''

Paswan, who quit the cabinet and NDA recently, accused BJP of being in ''nexus'' with the Sangh Parivar outfits in promoting their communal agenda and ''shielding (Narendra) Modi (Gujarat CM)'' in the aftermath of Gujarat riots.

He said even the "Prime minister (AB) Vajpayee said during his visit that the riots in Gujarat are a blot on the face of the nation".


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Vaccine for Diarrhea Being Tested

WASHINGTON (AP) - From Missouri to Mexico, Virginia to Venezuela, doctors are giving thousands of babies two experimental vaccines hoping to stop a type of diarrhea that kills more than 600,000 children worldwide each year.

It's a difficult quest: The first rotavirus vaccine was pulled off the market in 1999 after a lifethreatening side effect struck some U.S. babies, making American parents cautious about testing new, hopefully safer, versions. But doctors in developing countries, where rotavirus hits hardest, are telling public health experts they're desperate for protection.

"This is a disease that's democratic. Every kid in the world gets it. Every kid in the world could benefit from a vaccine that's safe and effective," says Dr. Roger Glass of the Centers for Disease Control and Prevention.

Drug giants Merck & Co. and GlaxoSmithKline now are testing two rotavirus vaccine candidates in a total of 12 countries; Merck's testing includes U.S. babies. In addition, the CDC is working with scientists in India on their own version.

Rotavirus, an intestinal infection, is the leading cause of severe diarrhea in young children. It can rapidly kill, as the sickest children become dehydrated from 10 to 20 episodes of diarrhea in a single day.

In developing countries, about one child in every 250 dies of rotavirus, Glass says. "They're so dehydrated they wither up like a flower, their eyes sink," he recalls of his days treating rotavirus in Bangladesh.

The last attempt at a vaccine ended in 1999, when American Home Products pulled its RotaShield off the market after a year of sales left 20 U.S. infants with a lifethreatening bowel obstruction. It was a very rare side effect — hitting one in 10,000 vaccine recipients — but deemed too great for Americans because so few babies here die of rotavirus. Many developing countries complained that RotaShield could have saved at least 100 of their children's lives for every case of bowel obstruction.

Now scientists are developing vaccines they hope will prove safer. Each is made from a live strain of rotavirus, but not the monkey strain used in RotaShield — the theory, still unproven, is that that may be a key safety difference.

Merck's version is a mix of cow and human strains, the types thought to cause most of the world's rotavirus illnesses. Glaxo's version is a single human-only strain culled from an American baby who never had symptoms, suggesting the immune system is spurred enough by this mild infection to protect. Glaxo notes the human strain has never been linked to bowel obstruction, but studies must prove that safety. The CDC culled yet another strain from babies in India who never became seriously ill, and is working with an Indian biotechnology company to test a resulting vaccine there.
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Powell to visit India, Pakistan
Washington,Wednesday, July 10, 2002: US Secretary of State Colin Powell said he expects to visit India and Pakistan towards the end of this month to accelerate the ongoing diplomatic drive to ease the tensions between New Delhi and Islamabad. "We have worked very hard to keep this thing (Indo-Pak tensions) from blowing up, boiling over on us," Powell said at a Senate Foreign Relations committee meeting here Tuesday.

"I've spent a great amount of time on the telephone with both the sides, spoke to (Pakistani) President Musharraff yesterday and spoke to Indian Foreign Minister Yashwant Sinha on Sunday," he said.

"Deputy Secretary of State Richard Armitage and Secretary Donald Rumsfeld did yeomen work when they went over (to India and Pakistan). I expect to be visiting there before the end of the month," Powell said.

Powell did not give any specific dates for his visit but he is due to travel to the Association of South East Asian Nations (ASEAN) ministirial and regional forum meetings in Brunei on July 30 and 31.

He made a personal peace shuttle to India and Pakistan early this year, as tensions between the two sides peaked over the December 13 Parliament attack which New Delhi blamed on Pak-based militants.


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US "anxious" to get through Indo-Pak crisis
Washington,Wednesday, July 10, 2002: Reaffirming its desire to have good relationship with both India and Pakistan, the United States has said it is "anxious" to get through the current crisis and see a dialogue begin between the two South Asian neigbours on the Kashmir issue. "It is a very difficult issue. And what we are trying to do now is to make sure that both the Indians and the Pakistanis understand that the United States is interested in them beyond this crisis. We want a good relationship with India on every aspect of that relationship, economic, trade cooperation, military cooperation. The same thing with Pakistan," US Secretary of State Colin Powell said Tuesday.

"We are anxious to get through this crisis and see a dialogue begin between the two sides so that we can start to move forward to help find a solution to the problem in Kashmir ultimately," Powell, who is expected to visit India and Pakistan towards the end of this month, said testifying before the Senate Foreign Relations Committee.

He said the US has worked "very hard" to keep the Indo-pak tension from "blowing up or boiling over on us. And I spend an enormous amount of time on the telephone with the two sides, spoke to President (Pervez) Musharraf again yesterday (Monday), spoke to the new Indian Foreign Minister (Yashwant Sinha) on Sunday."

The Committee hearing was called to discuss the agreement between the US and Russia to reduce the number of strategic weapons but there is no real bar to raising other issues.


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Woman kills herself in local train
Express News Service

The body of a middle-aged woman hanging from a grab-bar in a suburban local local train confronted stunned commuters as the train pulled into Churchgate railway station at 4 pm on Tuesday. The grim sight in the ladies’ second class compartment — the woman was hanging by a sky-blue dupatta in the aisle between the seats — was clearly visible only after the train crawled to a halt at the Western Railway terminus. The woman has been identified as Sevrine Nazareth (47), a resident of Gamdevi, who appears to have hanged herself between 1.05 pm and 3.56 pm.

This is a reconstruction of events that climaxed in death for Nazareth, who lived on Wacha Gandhi Road, Gamdevi, and whose family says was being treated for depression. Nazareth, a home-maker with two sons in their twenties, had left her residence on Wacha Gandhi Road between 9 am and 9.30 am to shop, according to her relatives. A ticket found on her person indicates that she had purchased a ticket at Grant Road station, says the Railway Police.

Railway schedules indicate that minutes before her death, Nazareth probably boarded a train at Churchgate which proceeded to the yard between Churchgate and Marine Lines stations at 1.05 pm. The train, which had arrived from Borivali, proceeded to the yard before it left for Churchgate once again, at 3.56 pm. The train arrived at Churchgate at precisely 4 pm, which is when her body was discovered, according to Commissioner of Railway Police, Rakesh Maria, who adds that the body bore no injuries. It has been sent to Nair Hospital for an autopsy.

The station Superintendent at Churchgate says he learnt that a body had been found hanging in a train from agitated commuters, who had approached him. ‘‘The train had come from the Churchgate yard, this is what I know,’’ says an emphatic R A Billimoria.

Finding it hard to believe that a portly woman, 5 feet, 3 inches tall, could climb onto a seat and then hang herself from a 7 ft-high bar without anyone trying to stop her, Nazareth’s nephew Richard argued: ‘‘How could this happen when there were other women in the compartment? It could not have happened in a fraction of a second. The explantion would be plausible, say, if she had jumped out of the train,’’ said the agitated relative.


Top

No interim budget, but relook at NPA ordinance:Jaswant
New Delhi,Wednesday, July 10, 2002: Finance Minister Jaswant Singh Wednesday ruled out any interim budget to provide tax sops, but promised a "relook" at the recent ordinance to deal with non- performing assets, saying Government's intention was not "expropriatory" "No, there will be no interim budget," Singh told reporters, setting at rest speculation that Government might come out with tax sops in view of improved revenue collections and his utterances that he would put more money in the pockets of citizens.. pti PTI 07101608 R NNNN ZCZC URG WEB NAT .SRINAGAR WEB43 SITUATION SPO among two killed, NC worker injured in Kashmir Srinagar, July 10 Two persons, including a Special Police Officer, were killed in Kashmir valley where militants targetted two security camps and shot at a ruling National Conference activist in separate incidents since last night, official sources said Wednesday. Special Police Officer Mushtaq Ahmad was shot dead by ultras inside his house at Arin in Bandipora area of Baramulla district in north Kashmir early today, the sources said.

A counter-insurgent, Mushtaq was helping the army in their anti-militancy drive, the sources added.

They said the NC worker Bashir Ahmad Wani, popularly known was "Bashir Halwai" was fired upon by two unidentified pistol-borne militants outside his house at Babademb in uptown Srinagar around 2 PM today.

Bashir, who suffered two bullet injuries, was shifted to hospital where his condition was stated to be "out of danger", the sources added.

Bashir's brother Mohammad Yousuf Halwai, killed 13 years ago, was among the first NC activists to have fallen prey to militant violence in Jammu and Kashmi, they said.

Militants lobbed grenades and opened fire on an Army camp at Sunderbani in Bandipora area of Baramulla district last night and in the retaliatory firing, a civilian was killed, the sources said.

Besides, an army camp was attacked with grenades and other light weapons at Rafiabad in Baramulla, though none was hurt, the sources said.


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Infosys Q1 net up by 14.11 per cent
Bangalore,Wednesday, July 10, 2002: Exceeding market expectations, Software major Infosys Technologies Limited today reported 14.11 per cent increase in net profit at Rs 216.85 crore for the first quarter of 2002-03 on a robust revenue growth of 24.83 per cent even as it remained in a cautious mode. The Bangalore-based, NASDAQ-listed company's revenue for April-June period rose to Rs 764.62 crore from Rs 612.52 crore, a year-on-year growth of 24.83 per cent.

The first quarter numbers declared by the IT sector leader represent a sequential growth of 12.42 per cent and 3.10 per cent in revenue and net profit respectively.

The results beat market expectations. Analysts had projected a revenue of Rs 707.4 crore and net profit of Rs 214.4 crore. The company also upheld its now famous tradition of exceeding its own guidance (revenue: Rs 684 crore-Rs 694 crore, and net profit: Rs 205 crore-Rs 211 crore).

"Revenue growth during the quarter has been robust", CEO, President and Managing Director, Nandan M Nilekani told reporters. "We continue to remain cautious due to delays in client and prospect visits from adverse travel advisories and due to a challenging global business environment".

Head-Sales and Marketing, Phaneesh Murthy, said the recent US travel advisory following escalating tension on the Indo-Pak border has had no impact on the company's performance in the first quarter but added the effect might be felt in the next couple of quarters if the issue persisted.


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Global accounting scams sound warning bells: PM
New Delhi,Wednesday, July 10, 2002: Alarmed by the enormity of financial scams and accounting bunglings by the likes of Enron, Worldcom and Xerox, Prime Minister Atal Bihari Vajpayee today asked the industry to reform, saying people's faith could not be allowed to be shaken by unethical practices. "Recent reports of accounting scandals elsewhere in the world are beginning to worry a lot of people about the bombshells hidden in the boomtime economy," Vajpayee warned at the meeting of his Advisory Council on Trade and Industry.

"We cannot allow people's faith in economic liberalisation to be shaken by those who do business with an ethical deficit," Vajapyee emphasised.

After the collapse of energy trading firm Enron, three new accounting scandles have hit United States during the last fortnight with many of them having a direct bearing on India.

The biggest among them is the disclosure by telecom company WorldCom that its officials misstated accounting figures in the amount of 3.8 billion dollars forcing Videsh Sanchar Nigam to begin legal consultations for recovering outstanding estimated upto Rs 500 crore.

Soon after the startling revelation by WorldCom, Xerox Corp disclosed that its subsidiary in India paid bribes of 700,000 dollars to government officials during 2000 to push sales, prompting Department of Company Affairs to order an inquiry into Xerox-Modicorp.

The lastest in the series is drug giant Merck which overstated its revenue by over 12 billion dollars.

"Business too must reform themselves. The principle of good corporate governance is the touchstone of your commitment to reforms," the Prime Minister said.


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Tendulkar could still open innings in one-dayers: Wright
London,Wednesday, July 10, 2002: Batting meastro Sachin Tendulkar's recent success at number four notwithstanding, he could still be opening the innings in one-day internationals, according to coach John Wright. "There is no reason why Tendulkar can't open the batting again, he might want to open at some stage, we might think it is a good idea for him to open," Wright told PTI in an exclusive interview.

Tendulkar moved to number four against the West Indies in the Caribbean recently and made an immediate impact with a match-winning knock of 65 in the final one-dayer at Trinidad. Now, in the ongoing NatWest triangular series, he has cracked a breathtaking hundred against England at Chester-le-Street last Thursday.

But Wright wants to take his time to be absolutely sure it has been the right decision in the team's interest.

"We are still working at that area to make sure it works. We have still got a few games to play to be absolutely sure that's the best thing," Wright said, underlining the team's new philosophy to be flexible in the limited overs genre of cricket.

Wright revealed that Tendulkar as well as Rahul Dravid, on his added responsibilty of a wicket keeper, had themselves offered to take the new roles in the team's interest.


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ANC Youth League threatens to wreck World Cup
Durban,Wednesday, July 10, 2002: The ANC Youth League has threatened to wreck next year's cricket World Cup in South Africa if sufficient black African players were not included in the national team. The Youth League's threat came two days after the United Cricket Board decided to lift the race quota for the selection of national and senior provincial teams.

"Without African participation in the game there will be no Cricket World Cup in South Africa. We will vigilantly defy and mobilise all our forces to disrupt it to make sure it does not succeed. This is our promise," Youth League said in a statement today.

The ANC Youth League has called for a meeting with Sports Minister Ngconde Balfour stating it was "sad and shameful" of the UCB to lift the quota system.

"It is a sad and shameful reflection that merely eight years into our democratic transformation we still have only two African players who are not even regulars in the national team, and the UCB decides to unceremoniously close the chapter in the transformation of cricket," it said.

"The ANC Youth League finds the UCB decision to concentr- ate resources only in areas where the game is traditionally strong as a plain and deliberate way of excluding the previously disadvantaged from the game."

The UCB has, however, defended its decision to lift the race quota saying that sufficient transformation had taken place for black players to be included at national levels purely on merit.


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ICC Security Manager on familiarisation trip
Kolkata,Wednesday, July 10, 2002: The International Cricket Council (ICC) Security Manager for India and Sri Lanka N S Virk has embarked on a familiarisation tour of the major cricketing centres in the two countries to get a first-hand account of the prevailing situation in and around the stadia and interact closely with people at the helm of affairs. Virk, who chose the historic Eden Gardens as his first port of call yesterday, told PTI here that he hoped to complete a round of all the centres in India preferably by October.

In between, the former CBI Superintendent is likely to visit Sri Lanka during the Champions Trophy in September.

"Basically, the visits have twin purposes. One is to make those at the helm of affairs aware of their role in safeguarding the game from corruption. The other is to get an idea of the conditions in the centres," he said.

Virk, who was involved in the investigative work that led to the CBI report into cricket match fixing in November 2000, said that basically his role was an advisory one.

"We have to guide the players and all those connected with the various Boards and Associations so that they do not fall into any trap laid by unscrupulous elements," he said.

Maintaining that match-fixing was at its lowest ebb now, Virk said earlier people did not know what to do and whom to report to if they came across any instance of corruption.


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We could not capitalise on the conditions, says Ganguly
London,Wednesday, July 10, 2002: Captain Sourav Ganguly said the 64-run defeat in the triangular one-day series league match against England was not due to complacency but because his team could not capitalise on the conditions. "They (England) bowled and batted well. We just didn't make use of the conditions. They were the better opponents of the day," Ganguly said.

The Indian captain said the team was determined to maintain the winning sequence in the series but were outplayed in all departments of the game by the hosts.

"We wanted to win this game but were outplayed. There was no complacency. You do feel bad when you lose, but we have done well in the last four games," he said.

Ganguly did not bowl paceman Ashish Nehra through with his seven overs but denied he experimented with his bowlers in the game.

"I wasn't experimenting with my bowlers. I didn't bowl Nehra through because after 10 overs I thought probably the spinners would put the brakes on. They did for a few overs but then I thought England played well thereafter.

Ganguly said Rahul Dravid didn't play the game as a precautionary measure as he had a bit of stiff thigh. As for Anil Kumble, the situation on him was still not clear.

"He picked up a calf muscle injury while batting. We are still not clear on his situation. The physio would have a look at it".


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Markets
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Sensex: 3332.36, -26.22

The sensex closed at 3332.36, down 26.22
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Forex
 
1  U.S. $ = 48.75 INR
1  Japanese Yen  = 0.41 INR
1  British Pound  = 75.59 INR
1  Canadian $ = 32.19 INR
1  Singapore $ = 27.84 INR
1  UAE Dirham = 13.27 INR
1  Saudi Arabian Riyal = 13.00 INR
1  Euro = 48.40 INR
1  Qatar Rial = 13.39 INR
 
Metals

 No data
Weather
Temperature : 88 F / 31 C  
HeatIndex : 100 F / 38 C 
Humidity : 70%
Dew Point : 77 F / 25 C 
Wind : WNW at 9 mph / 14.5 km/h 
Wind Gust - 
Pressure : N/A in / - 
Conditions : Scattered Clouds
Visibility - 
Clouds : Mostly Cloudy(BKN): 10000 ft / 3050 m 
Scattered Clouds(SCT): 2500 ft / 764 m 
  
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