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Headlines
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News:
Vaiko arrested
Tension in Gujarat on rathyatra eve
No power struggle in BJP : Naidu
India not to subject its Peackeeepers to ICC
Pak says its difficult to ensure "not a bird" crossed LoC
Maha CM to reconsider move on income-based fee
BSNL GM arrested, released on bail
DEPB facilities for Jute products announced
Process for Nalco strategic sale, public offer together: govt
Rupee weakens against US dollar early today
Stocks plunge; Bush fails to restore confidence in US business
Stocks dip further on investors panic selling
India to experiment in inconsquential match against Sri Lanka
ANC Youth League threatens to wreck World Cup
Only the deserving should get Arjuna Awards: Padukone
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Sensex: 3290.56, -41.80
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News
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Vaiko arrested
Chennai,Thursday, July 11, 2002: MDMK Chief Vaiko was arrested Thursday.
Amidst very tight security arrangements, a special police party led by Madurai Rural Superintendent of Police Ayushmani Tiwari, executed the Non-bailable arrest warrant against the Sivakasi MP, soon after he came out of Chennai airport.
After his arrest, Vaiko was taken in a police van to Thirumangalam near Madurai, about 350 kms from here, for production before a Judicial Magistrate for remand.
Vaiko has been charged under POTA for his alleged pro-LTTE remarks at a meeting at Thirumangalam near Madurai on June 29.
Cases had been registered against Vaiko and eight others under POTA, Unlawful Activities Act and IPC.
Vaiko was arrested after he arrived here by a flight from Mumbai where he had reached from Chicago early today.
Vaiko's wife and son were present at the airport when he was whisked away in a police van. Union Ministers Gingee Ramachandran and M Kannappan were also present.
After his arrest Vaiko told reporters "We are not afraid and will not be cowed down by the repressive measures of the fascist Jayalalithaa government.
"We will not indulge in violence like AIADMK men who went on the rampage after Jayalalithaa was convicted in a corruption case. Buses were burnt then and three college girls were burnt alive".
He said "We will fight the fascist regime with people's support".
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Tension in Gujarat on rathyatra eve
(Times News Network)
AHMEDABAD: Tension is building up in Gujarat on the eve of the rathyatra when processions will be taken out in about a dozen towns and cities of the state which saw communal violence claiming nearly 1,000 lives earlier this year.
The annual rathyatra, which will be taken out in Ahmedabad and other centres, will pass through some of the violence-prone areas leading to fears that the processions may spark off fresh round of communal disturbances.
The processions will commence from Hindu temples when the idol of Lord Jagannath will be taken out by devotees in chariots accompanied by gymnasts performing martial arts. Nearly 30,000 policemen security personnel have been deployed in Ahmedabad which will witness the procession.
Traditionally, some 5 lakh people come out on the streets to greet the rathyatra, but trouble has been reported in previous yatras. This year, Muslims have been told by clergymen to observe a self-imposed curfew and remain indoors during the procession to avoid trouble. The timings of the Friday prayers in the afternoon have also been altered so that it does not clash with the rathyatra.
The security adviser to chief minister Narendra Modi, K P S Gill, who supervised a dress rehersal by the police for the big event, said “the arrangements are such that there is no chance of trouble”. He said the possibility of a terrorist strike on the Rathyatra will be ‘neutralised’ by the massive police arrangements.
However, several Muslim families have in fact planned to leave their localities which fall along the route. In other areas like Punjabi Gali and Nagina Pole residents have erected huge iron gates at the entrance to fortify themselves. Mohammed Saleem, who owns a shop at Tambu Chowky, said “we are not convinced we are safe”.
Apart from Ahmedabad, similar Rathyatra are to be taken out on Friday at Bhavnagar, Vadodara, Anand, Kheda, Banaskantha, Mehsana, Surat, Patan and Gandhinagar and police all over the state has been put in a state of high alert.
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No power struggle in BJP : Naidu
New Delhi,Thursday, July 11, 2002: Newly appointed BJP President Venkaiah Naidu said on Thursday there was no power struggle in the party with the elevation of L K Advani as the Deputy Prime Minister.
"I want to make it clear that Atal Bihari Vajpayee is the tallest leader in the nation today... he is the leader of the nation, NDA, BJP...he is leader to me, he is leader to Advani also," Naidu said in his first press conference after assuming charge as Party President.
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India not to subject its Peackeeepers to ICC
United Nations,Thursday, July 11, 2002: India, one the largest contributors to the UN peacekeeping operations, has strongly opposed its peacekeepers being subjected the jurisdiction of institutions, like the International Criminal Court (ICC), that it does not recognize.
"We find it difficult to accept an outside authority purporting to sit on judgment upon the action of our troops... We see them as answerable for their behaviour to authorities within established hierarchy of command and to our own established institutions," new Indian Abassador to UN V K Nambiar said here on Wednesday.
He, however, said that New Delhi "understands the dilemma" of the countries which that have singed the statute of International criminal Court and taken upon themselves certain specific obligations.
"We recognize that they are free to submit their nationals, including their troops, to the jurisdiction of ICC," its UN Ambassador V. K. Nambiar told the Security Council on Wednesday.
India has not signed the Rome treaty establishing the Court as New Delhi considers it flawed.
As the UN is discussing the issue of extension of the peacekeeping force in Bosnia, deadlocked over the issue of immunity to US peacekeepers from ICC, India urged the world body to give "careful consideration" to the view of major troop contributing countries that were not party to ICC.
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Pak says its difficult to ensure "not a bird" crossed LoC
Islamabad,Thursday, July 11, 2002: Pakistan has claimed that its armed forces are doing "everything possible" to stop the cross-border terrorism but said it is difficult to ensure that "not a bird" crossed the Line of Control in Jammu and Kashmir.
"The President of Pakistan has said there is no infiltration across the Line of Control," Minister of State for Foreign Affairs, Inam-ul Haq, said in an interview to the Financial Times.
"The Government of Pakistan neither sponsors nor encourages any infiltration across the Line of Control," the minister said.
Pakistan's armed forces were now doing everything possible to stem the flow of militants -- although, given the Himalayan terrain, it could hardly ensure that "not a bird" crossed the LoC, Haq said.
The minister urged the international community to engage itself to find a "durable and just" solution to the Kashmir issue.
"The international community must engage itself in finding a durable and fair and just solution to the Kashmir issue. If there is a willingness to find a solution according to the aspirations of the Kashmiri people then definitely a solution can be found," he said.
Haq also urged India to resume direct talks with Pakistan on the Kashmir issue. "If it is not resolved then tensions can break out again any time. It is only when you sit down across a table and talk about the various possibilities that a solution can emerge," he was quoted as saying.
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Maha CM to reconsider move on income-based fee
MUMBAI: Parents and children from 172 schools held dharnas outside their respective schools on Wednesday morning before attending the rally organised by the PTA United Forum at Azad Maidan to protest against the government’s decision to impose an income-based fee structure.
The protest started peacefully. However, when no government representative came to meet them at the maidan, they took their battle to the roads. Groups of students, from Class V to X, paraded banners and shouted slogans like “We want justice’’ and “Spend money on education and not on MLA holidays abroad’’ outside the BMC headquarters, only held in check by bemused police officers. “Only when the public knows our suffering will the government pay attention,’’ said one parent from St Joseph’s School, Malad, explaining why so many parents had decided to stage such a dramatic protest.
Traffic around the area was disrupted for several hours as students blocked vehicles on J.J. flyover, D.N. Road, Flora Fountain and Mahapalika Marg. Central Railway services were also disrupted for half an hour as students staged a rail roko for 20 minutes before disbanding it. In spite of the inconvenience, most sympathised with the protesters. A motorist, stuck near the VSNL junction for more than 45 minutes, said most people were more critical of the government for imposing the fee hike.
At about 4 p.m., minister of state for education Rajendra Shinge arrived and promised the crowd that the government would take a positive decision within two days. However, the parents wanted a written assurance, which the minister refused. They were already furious over reports that chief minister Vilasrao Deshmukh would not meet a PTA delegation. In fact, the CM had met the eight member team and assured them that the government would reconsider the decision. "We had already kept the hike on hold until July 31,’’ said a spokesperson from the CM’s office.
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BSNL GM arrested, released on bail
Jamshedpur,Thursday, July 11, 2002: General Manager of Bharat Sanchar Nigam Limited (BSNL), Jamshedpur circle F H Zaidi was arrested and released on bail in connection with a labour dispute case, police said.
A police team from Chaibasa with the help of Bistupur police arrested Zaidi from his residence yesterday following an arrest warrant issued by the court.
He was subsequently granted bail by the Chief Judicial Magistrate's court at Chaibasa in West Singhbhum district of Jharkhand last night after frantic efforts by BSNL officials, the police said.
A case was registered against Zaidi last year following a labour dispute in West Singhbhum district. When, Zaidi reportedly failed to turn up before the court even after repeated summons, the court issued the arrest warrant against him
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DEPB facilities for Jute products announced
New Delhi,Thursday, July 11, 2002: In a major initiative to boost jute exports, the government for the first time decided to provide Duty Entitlement Passbook (DEPB) scheme facilities for jute products for exports.
Textiles Minister Kanshiram Rana in a meeting here today said his ministry had requested the Commerce Ministry and Director General Foreign Trade (DGFT) to consider extending DEPB facilities to jute products and hoped this would enable jute industry to compete more vigorously in the export market and increase exports of jute products.
The decision is in line with providing a comprehensive development package for the Jute sector, an official release said.
The products for which DEPB rates were fixed are - Jute Soil Saver, Jute Yarn/Jute Twine, Hessian Cloth, Hessian made-up, Sacking cloth and Sacking made-up, it said.
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Process for Nalco strategic sale, public offer together: govt
New Delhi,Thursday, July 11, 2002: Government today said process for strategic sale and public offering for divesting a total of 59.15 per cent equity in National Aluminium Company (Nalco) would start simultaneously and cleared a proposal for privatisation of Manganese Ore India Limited (MOIL).
Announcing the decision taken at the meeting of the Cabinet Committee on Disinvestment (CCD), headed by Prime Minister Atal Bihari Vajpayee, Disinvestment Minister Arun Shourie however said that public offering of 30 per cent equity in NALCO would be made before sale of 29.15 per cent equity to a strategic partner along with management control.
"Cabinet Committee on Disinvestment (CCD) has approved a proposal to commence the process of strategic sale simultaneously with American Depository Receipt (ADR)issue and domestic float", Shourie said.
CCD also approved strategic sale of 51 per cent equity in MOIL in favour of strategic partner with transfer of management control while retaining 26 per cent equity.
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Rupee weakens against US dollar early today
Mumbai,Thursday, July 11, 2002: The rupee weakened against the US currency early Thursday on renewed dollar demand from banks at relatively lower levels in moderately active trade at the Interbank Foreign Exchange market.
The domestic unit was quoted at Rs 48.80/81 per dollar in late morning deals, sharply lower from the overnight close of Rs 48.7800/7850. The rupee opened distinctly weak at Rs 48.81/82 per dollar.
Fresh dollar demand from banks at sharply lower levels exerted renewed pressure on the rupee, but the outlook for the currency remained positive due to strong dollar supplies from exporters and lingering weakness of the dollar in overseas trade, a forex dealer said.
In cross currency trades, the Euro was quoted at Rs 48.24/26, Pound Sterling at Rs 75.56/58 and Japanese Yen (100) at Rs 41.45/47.
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Stocks plunge; Bush fails to restore confidence in US business
Washington,Thursday, July 11, 2002: Indicating that President George W Bush's proposed reforms have failed to restore confidence in American corporate sector, the US stocks fell sharply on Thursday with the Dow Jones plunging 280 points to close below 9,000 for the first time since October.
The tech-heavy Nasdaq and Standard & Poor's 500 indexes hit new 5-year lows. The Nasdaq fell 35.11, or 2.5 per cent, to 1,346.01 as it lost 67.24 in past two days while the S and P sank 32.36, or 3.4 per cent, to 920.47.
The Dow plunged 282.59, or 3.1 per cent, at 8,813.50 after falling 283.41 over the previous two sessions.
Big names like Merk dropped 2.18 dollars to 43.57 dollars after announcing that it was postponing for the third time in two weeks the initial public offering of its Medco unit. General Motors slid 3.53 dollars to 47.61 dollars while Ford dropped 1.12 dollars at 13.99 dollars.
Bush is desperately trying to avoid the impression that America's corporate sector as a whole has become venal claiming that there are a "few bad eggs" which bring a bad name to all.
"I am an avid backer of the free enterprise system but I also understand that it requires trust. We have had some destroy the trust of the American people and we need to do something about it. If you get a bunch of people together that have no sense of ethics, you are going to get this kind of behaviour," Bush said.
Critics said it is precisely this bunch that poured millions into his own election campaigns, first for the Governorship of Texas and then for the Presidency. At the head of the donors was Enron.
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Stocks dip further on investors panic selling
Mumbai,Thursday, July 11, 2002: Reeling under continued pressure of panic sell-off triggered by strong speculation about a likely accounting scam in a leading foreign fund, equities dropped sharply pushing the sensex down by about 42 points at close on the Bombay Stock Exchange (BSE) Thursday.
Punters and public investors resorted to heavy selling in several key stocks, mainly Reliance Industries Ltd (RIL) and Rolta, on rumours that Alliance Capital, a leading foreign fund, has sacked one of its directors for involvement in accounting scandal, market sources said.
The BSE Benchmark 30-share Index opened slightly lower at 3332.15 and later moved downwards to the intra-day low at 3287.91 before ending below 3300-level at 3290.56 as against yesterday's close of 3332.36, netting a fall of 41.80 points or 1.25 per cent.
The broad-based BSE-100 Index dropped by 22.26 points to 1653.99 from previous close of 1676.25.
RIL and Rolta bore the brunt of selling induced by fears that both the companies might suffer financial losses from the speculated scandal in Alliance Capital.
The sentiment was adversely affected by another sharp fall in New York stocks yesterday that pushed the Nasdaq Composite Index and the Dow Jones Industrial Average down by 35.11 points and 282.59 points.
Stocks in South East Asian markets also suffered a sharp setback in the light of the meltdown on Wall Street. The Nikkei and the Hang Seng ended lower by 266.92 points and 228.73 points respectively.
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India to experiment in inconsquential match against Sri Lanka
Bristol,Thursday, July 11, 2002: Keen to go into the final of the NatWest triangular one-day series with a positive frame of mind, India will look to finish off their league engagements on a winning note when they take on Sri Lanka in a day-night match here Thursday.
Having impressed in the tournament after winning three matches and ensuring a place in the final against England at Lord's on Saturday, India suffered a 64-run defeat Tuesday against the hosts and were also bowled out within their quota of 32 overs in the rain-curtailed match.
But that has not deterred Sourav Ganguly who was keen to dismiss the defeat as a one-off thing, saying he wanted to be focussed completely on the big final.
That they will take upon Sri Lanka, who have taken enough knock on their pride throughout their summer campaign in England and have only one win against England to show off in the tri-series, have made things easier for Ganguly.
The Indian skipper indicated he might like to give a look-in to speedster Tinu Yohannan and have Ajay Ratra continue tomorrow as he would want Rahul Dravid, who has been in good nick in the tournament, to recover sufficiently from the minor hamstring injury before the final.
Harbhajan Singh could also make a comeback to the side as Anil Kumble was seen limping in the match yesterday. Though, Ganguly dismissed Kumble's injury as a minor one, he would not like to take any chances by fielding the bowler in an inconsequential match.
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ANC Youth League threatens to wreck World Cup
Durban,Thursday, July 11, 2002: The United Cricket Board of South Africa has defended its decision to lift the race quota for the selection of national and senior provincial teams.
The UCB was responding to threats by the ruling ANC youth organisation to wreck next year's World Cup tournament in South Africa if sufficient black African players are not included in the national team.
The ANC Youth League has called for a meeting with Sports Minister Ngconde Balfour after stating that it was "sad and shameful" of the UCB to lift the quota system.
The Youth League said in a statement: "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. "The ANC Youth League finds the UCB decision to concentrate resources only 'in areas where the game is traditionally strong' as a plain and deliberate way of excluding the previously disadvantaged from the game. "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."
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Only the deserving should get Arjuna Awards: Padukone
Mumbai,Thursday, July 11, 2002: Prakash Padukone, the newly- appointed Chairman of the Arjuna Awards Selection Committee, today said he would not hesitate to effect any changes in the guidelines, if needed, to ensure only the deserving candidates got the prestigious award.
Padukone, who heads a 13-member Committee which was formed by the government on Monday to select Arjuna Awardees, also said he would make an effort to bring about transparency in the selection procedure.
"Our main task will be to go through the guidelines and effect any changes if required so that only eligible and deserving candidates, who have brought laurels to the country, get the award in future," Padukone, who is the first Indian shuttler to win the All-England championship (1980), told PTI here.
Padukone was here to address the media in connection with the forthcoming Asian Satellite tournament next month.
The government decided to overhaul the Committee early this year following widespread allegations of rampant lobbying and manipulation in giving away the awards.
The controversy reached a boiling point last year when 'Flying Sikh' Milkha Singh rejected the Award and some sportspersons even approached the Delhi High Court challenging the selection criteria.
But even before the Court could come out with a verdict, Sports Minister Uma Bharti announced setting up of a new panel to select Arjuna Awardees for this year.
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Sensex: 3290.56, -41.80
The sensex closed at 3290.56, down 41.80
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1 U.S. $ = 48.74 INR
1 Japanese Yen = 0.42 INR
1 British Pound = 75.21 INR
1 Canadian $ = 31.97 INR
1 Singapore $ = 27.81 INR
1 UAE Dirham = 13.27 INR
1 Saudi Arabian Riyal = 13.00 INR
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1 Qatar Rial = 13.39 INR
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Wind Gust -
Pressure : 29.65 in / 1004 hPa (Falling)
Conditions : Haze
Visibility -
Clouds : Scattered Clouds(SCT): 2000 ft / 611 m (FEW): 2500 ft / 764 m
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