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[Grapevine] For 14 Aug, 2002



Title: The Mumbai Grapevine
The Mumbai Grapevine Connecting Mumbaikars with Mumbai
(Published by Mumbai-Central.com)
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Headlines
News:
Lashkar, Jaish fidayeen in Kashmir to disrupt I-day functions
Supreme Court issues notices on petrol pump issue
Abdul Kalam dumps a British legacy
Snakes smuggled in for festival, rescued
J and K polls a "farce": Musharraf
Vajpayee likely to visit US next month
Foreign visitors to US will face new entry-exit system
CBDT measures to check tax evasion
India terminates anti-dumping investigation against EU, US
Rupee hovers around six-month highs against US dollar
BSE: Share prices open weak on negative wall street advices
England U-19 consolidate their position with 331/7 at close
Drug-free squad for Asiad, says Bharti


Markets:
Sensex: 3020.70, -15.70




Forex, Metals and Weather below

News
Lashkar, Jaish fidayeen in Kashmir to disrupt I-day functions
Srinagar,Wednesday, August 14, 2002: As many as 40 foreign mercenaries belonging mainly to the pro-Pakistan militant outfits Lashkar- e-Toiba and Jaish-e-Mohammad have sneaked into the Kashmir valley to carry out suicide attacks to disrupt Independence Day celebrations and the election process in Jammu and Kashmir, a top police official said here on Wednesday. "Four fidayeen squads of ten militants each belonging to LET and JEM have sneaked into Srinagar city to carry out sensational fidayeen attacks on vital government and security installations on the eve of Independence Day and the forthcoming assembly polls", Inspector General of Police K Rajindra said here. Among those who the police was specially looking for included Ghazi Baba, an area commander of JEM, and suspected mastermind of the December 13 attack on Parliment, in central Kashmir, he said. On top of the hit list of fidayeen squads was Chief Minister Farooq Abdullah followed by important civil and defence installations, including Radio Kashmir and Civil Secretariat here, he added. According to intelligence reports the suicide squads have worked out the details of their attacks, he said adding that the militants would either make fidayeen assaults on go in for heavy and deadly attacks with rifle grenades. The IGP further said that groups like Hizbul Mujahideen, the Jamiat-ul-Mujahideen, the Al-Umar Mujahideen and the Tehreek-ul-Mujahideen were likely to utilise every means to disrupt August 15 functions and the poll process.
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Supreme Court issues notices on petrol pump issue
New Delhi,Wednesday, August 14, 2002: The Supreme Court on Wednesday issued notices to the allottees who have moved different High Courts challenging the government's decision to cancel all the allotments for petrol pumps and gas agencies made since January 2000 following Government's petition seeking transfer of all the cases to the Apex court or one of the High Courts.

The decision to issue notices was taken by a three-judge bench comprising Chief Justice B N Kirpal, Justice K G Balakrishnan and Justice Arijit Pasayat.

The Government had moved a transfer petition in the Court in the wake of orders by the Delhi and Rajasthan High Courts on petitions filed by certain individual allottees restraining the Centre from going ahead with its decision to cancel their allotments.


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Abdul Kalam dumps a British legacy
IANS

hen President A P J Abdul Kalam hosts his maiden Independence Day reception on Thursday, he will be breaking a decades-old tradition.

In a gesture that is certain to be welcomed with relief by his 3,500-odd guests, the President has dumped the dress code for men, a legacy of the British colonial era that had been continued by Indian presidents since independence.

Conspicuously absent from the President's invitation that went out over last week was the dress code specification for guests: "National dress/uniform or lounge suit".

An official at the Rashtrapati Bhavan said it was dropped at the instance of the President, who has been making news not only for his long locks and non-formal attire but also for his unconventional style, simplicity and informality.

P Murari, secretary to former president R Venkataraman, welcomed Abdul Kalam's decision.

"This is the first time that no dress code has been specified. I have sent these invitations as secretary to the President and have been attending the receptions regularly as a permanent invitee since my retirement in 1992.

"Refreshing winds of change are sweeping the Rashtrapati Bhavan," Murari said and added that Kalam may well become a trendsetter for the rest of Delhi, including the diplomatic missions, which too specify dress codes for guests on their national day receptions.
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Snakes smuggled in for festival, rescued
(Indian Express)

TWENTY starving cobras with their teeth broken, poison fangs pulled out, suffering from mouth rot and exhaustion were rescued by the Bombay Society for Prevention of Cruelty to Animals (BSPCA) here today. Of these, three are suffering from severe diarrhoea, two are afflicted by mouth rot and four are shedding their skins. All of them were also vomitting, showing the after-effects of torture, said BSPCA inspectors.

The cobras were smuggled into the city for Nag Panchami festivities, from Rajasthan, Uttar Pradesh, Haryana, Punjab and Belgaum. These snakes which have been kept hungry for over a week were rescued from C P Tank, Mandanpura, Kamatipura, Grant Road (near Central Plaza theatre), Colaba Market and the Lower Parel Industrial Area. Black, brown, yellowish-black and orange in colour, the longest of the rescued cobras is six-and-a-half feet and weighs an estimated four-and-a-half kilogrammes.

Speaking to Newsline, BSPCA inspector Sunil Ranade said, ‘‘They are in very bad shape. Some of these snakes will survive but they will not be able to eat their natural food in the absence of the poison fangs which help in the digestion of food.’’ Neeta Parvate who rescued about 10 cobras with her team too echoed Ranade’s sentiments.

The rescuers were beaten up by an angry mob at Colaba at the behest of a local politician. ‘‘This man tried to intervene saying we were hurting the sentiments of the Hindus. They beat us but we grabbed the snake and ran,’’ said Ranade.

Thriving on the superstition of the people, these madaris make anything between Rs 5,000 to 6,000 on Nag Panchami day. It is believed that you will reap many times more than what you ‘donate’ for the snake god.

‘‘After the festival, the madaris de-skin the snakes and sell their skins. A six-foot cobra skin will fetch anything between Rs 5,000 to 10,000 depending on the condition of the skin,’’ said Ranade.

Bibhas Amonkar of DARE Foundation also rescued four cobras who too are suffering from mouth rot.


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J and K polls a "farce": Musharraf
Islamabad,Wednesday, August 14, 2002: Terming as "farcical" the forthcoming Jammu and Kashimir assembly elections, President Pervez Musharraf today said Pakistan should not be held responsible for failure of the polls there, and renewed his threat to take the battle into Indian territory if attacked. "Pakistan cannot accept any responsibility for developments inside Kashmir. Nor can India try to shift the onus of the failure of elections to Pakistan", Musharraf said in his address to the nation after hoisting the Pakistani flag on the 55th Independence Day.

He alleged the proposed polls in J and K were yet another "mask" given by India to justify its "occupation" of the valley.

"Pakistan position on this issue is based on UN Security Council resolutions. Elections cannot be a substitute to free and impartial plebiscite under the UN auspices", he said in his address in the 'Convention Centre', an unusual venue, chosen due to fears of militant threats.

"Pakistan supports the principle struggle of people of Kashmir for the right of self determination, since long promised to them by the international community. This struggle...can never be compromised," he said.

Musharraf also rejected as "self serving", India's argument that peaceful elections in J and K was test for Pakistan's sincerity to hold dialogue with New Delhi to resolve the Kashmir issue.


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Vajpayee likely to visit US next month
New York,Wednesday, August 14, 2002: Prime Minister Atal Bihari Vajpayee is likely to pay a week-long visit here next month during the first anniversary of Sept 11 terror attacks on the US when he is expected to address the UN General Assembly and have wide-ranging talks with President George W Bush. Though Vajpayee's programme is still being finalised, he is expected here from September 11 to 17.

Among his first engagements would be a commemorative function being organised for visiting heads of state and government by the New York city on Sept 11, the first anniversary of terrorist attacks which killed about 3000 people.

Vajpayee is also scheduled to address the third Global Indian Entrepreneurs Conference being organised by the Global Organisation of People of Indian Origin. Besides, he is expected to have a series of bilateral meetings with the world leaders attending the General Assembly session and meet with community leaders.

In his address to the General Assembly, tentatively scheduled for Sept 13, Vajpayee is expected to give a strong call to the world leaders to unitedly fight and eliminate terrorism and touch on several issues, especially economic, of interest to the developing countries. The Prime Minister is also likely to address the prestigious Council for Foreign relations.

An advance team from New Delhi is expected here shortly to finetune Vajpayee's programme.


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Foreign visitors to US will face new entry-exit system
Washington,Wednesday, August 14, 2002: The US Immigration and Naturalisation Service (INS) will begin implementing new requirements for foreign visitors as they enter and exit United States from next month. Outlined in the 'USA Patriot Act' approved by the Congress in the wake of the September 11 terrorist attacks, the new system will be in effect at all US ports of entry by October one, the Department of Justice said.

At selected points of entry, a small percentage of foreign visitors will be fingerprinted, then the results will be matched against a database containing list of known criminals and terrorists, it said.

The new system, to be evaluated and tested from September 11, will designate visiting aliens as high-risk, and keep authorities informed of their whereabouts during their stay in the United States.

The visitors will be selected according to intelligence reports reflecting activities of terrorist organizations.

Attorney General John Ashcroft said the new system is vital in the war against terrorism.

"This system will expand substantially America's scrutiny of those foreign visitors who may present an elevated national security risk," said Attorney General John Ashcroft, adding that "it will provide a vital line of defence in the war against terrorism."

The program will also require the same individuals to periodically confirm their address and activities in US, as well as confirm their exit from the country.


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CBDT measures to check tax evasion
New Delhi,Wednesday, August 14, 2002: As part of efforts to check evasion and raise direct tax collections, Government is planning to use Permanent Account Number (PAN) as a 'Common Business Number' and make it mandatory for quoting it in all notified transactions. "Use of PAN as a Common Business Number is part of measures to check tax evasion," Finance Ministry officials told PTI here on Wednesday.

Measures are also afoot at the Central Board of Direct Taxes (CBDT) to ensure that PAN is quoted on all returns and tax payment challans, TDS certificates and all notified transactions, the officials said.

Other steps being considered by the department include electronic data exchange with other departments using a common data format, data warehousing of financial transactions and automated selection of cases for scrutiny.

A system for PAN verification and updating would also be introduced in the coming months.

In order to facilitate tax payers, the CBDT is also considering direct credit of tax refunds through Electronic Clearance Scheme of the Reserve Bank.

"The department is also planning a centralised mass processing for disposal of returns in the same year, an Interactive Voice Response System (IVRS) and bulk filing of salary returns through electronic medium," they said.

CBDT may shortly start processing of all tax returns on computers, the officials added.


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India terminates anti-dumping investigation against EU, US
New Delhi,Wednesday, August 14, 2002: Government has decided to terminate its anti-dumping investigation concerning imports of Isopropyl Alcohol (IPA) from Singapore, USA, European Union and China. In a notification dated August 6, 2002, the Directorate General of Anti-dumping and Allied Duties, under the Commerce Ministry, said it was terminating the investigation on account of the petitioners National Organic Chemical Industries Ltd (NOCIL) withdrawing their petition and requesting termination of the investigation.

"The authority therefore, decides to terminate the investigation in view of the petitioner's written request and the sub-rule 14 (a) of the anti-dumping rules," which lays down that the designated authority shall by way of a public notice terminate an investigation immediately if it recieves a request for doing so on behalf of the domestic industry affected at whose instance the investigation was initiated.

The DGAD had earlier in its preliminary findings recommended imposition of provisional anti-dumping duties on February 5, 2002 which were later notified by the Revenue Department on February 22, 2002.

With the DGAD now terminating the investigation, these duties would be withdrawn.

NOCIL had petitioned the DGAD on behalf of the domestic industry alleging dumping of IPA imported from Singapore, US, European Union and China.

The Authority on the basis of sufficient evidence had decided to initiate the investigation against imports of the subject goods from the subject countries.


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Rupee hovers around six-month highs against US dollar
Mumbai,Wednesday, August 14, 2002: The rupee hovered around six-month highs against the US currency on Wednesday, deriving its strength on persistent strong trade inflows and a relatively weak dollar against major global units. In mostly quiet and range-bound trade at Interbank Foreign Exchange market here this morning, the rupee is currently quoted Rs 48.5875/5950 per dollar, higher from Tuesday's finish of Rs 48.5975/6025. The rupee opened at Rs 48.5950/6050 per dollar.

Healthy dollar supplies from export proceeds and foreign fund inflows amidst negligible dollar demand from corporates and importers kept the rupee firmly entrenched against the US currency and with a positive outlook, remains poised for further gains, dealers said.

In cross currency trades, the Euro was quoted at Rs 48.02/04, Pound Sterling at Rs 74.81/83 and Japanese Yen (100) at Rs 41.21/24.


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BSE: Share prices open weak on negative wall street advices
Mumbai,Wednesday, August 14, 2002: Share values opened slightly lower on Bombay Stock Exchange (BSE) on wednesday on profit-selling by operators after three days of gains following weak wall street advices. The BSE-30 share sensitive index resumed at 3032.99, down from Tuesday's close of 3036.40 and moved in a restricted range of 3037.37 and 3022.03 before being quoted at 3030.86 at 10.30 am.

Majority of software counters reacted downwards on fresh selling as operators decided to book profits due to sharp decline on the Wall Street.

The Dow Jones Industrial Average and the Nasdaq Composite Index tumbled by 206.50 and 37.56 points respectively last night following decision of the Federal Reserve policymakers not to change the US interest rates and also warned that the economy was tilting back into last year's recessionary conditions which worried the market operators.

Media-giant, Zee Telefilms, was the most sought after stocks on some interested buying.

Among major losers, Tisco dropped by 2.91 per cent, Arvind Mill by 2.29 per cent, Trigyn Tech by 2.26 per cent, SSI Ltd by 2.09 per cent, Dr Reddy by 1.87 per cent, Mastek by 1.82 per cent, Polaris by 1.72 per cent and DSQ Software by 1.62 per cent.

However, Silverline rose by 3.84 per cent, Zee Telefilms by 3.40 per cent, ITC by 2.27 per cent, Hero Honda by 1.87 per cent and Century Textile by 1.51 per cent.


Top

England U-19 consolidate their position with 331/7 at close
London,Wednesday, August 14, 2002: Buoyed by a brilliant 212-run second wicket partnership between B M Shafayat and Kadeer Ali, England Under 19 scored 331 for seven in their first innings at close on the opening day of the third Test against India at Northampton. India U-19 won the toss on Tuesday in the 4-day tie and put England to bat but the move seemed to have backfired as opener Shafayat and second wicket partner Kadeer Ali overwhelmed the Indian attack scoring at ease.

Shafayat notched up 118 including 11 fours and a sixer while Kadeer Ali scored 97 including 13 fours and a sixer.

At tea, the home side was 223 for two in 69 overs and threatened to put up an imposing total.

But the credit should go to right arm off-spinner Udit Patel and right arm leg spinner Timil Patel for putting the break on England who finished at 331 for seven at close. They notched up two wickets each.

Besides Shafayat and Kadeer Ali, G J Muchall consolidated England's innings scoring 67 including ten fours.

India made two changes bringing in Vivek Yadav in place of Chandrasekhar Atram and Udit Patel replacing A T Rayudu.

Brief Scores:

England U-19 1st inngs: 331 for seven. (B M Shafayat 118, Kadeer Ali 97, G J Muchall 67, L E Plunkett 11; I K Pathan 2/82, U B Patel 2/98, T K Patel 2/31).


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Drug-free squad for Asiad, says Bharti
New Delhi,Wednesday, August 14, 2002: Describing the positive drug test of two lifters as a slur on an otherwise excellent performance in the recent Commonwealth Games, Federal Sports Minister Uma Bharti Wednesday warned National Federations to ensure that such fiascos are not repeated in the Busan Asian Games next month. "What happened at the Manchester Commonwealth Games was terrible and I am going to try and send a drug-free squad to Busan," said Bharti while presiding over the Afro-Asian Games Organising Committee meeting here. "I demand that all concerned, particularly the Weightlifting Federation, ensure that the competitors are adequately educated on this issue," she said. Two medal winning lifters - Krishnan Madaswamy and Satheesha Rai - had failed the dope Test during the Manchester Games. While Madaswamy was promptly stripped of his three silver medals, the Commonwealth Games Federation has not yet made any announcement on double gold medal winner Rai. Reacting to profession of innoncence by different bodies, Bharti said no purpose would be served on passing the buck to others. "It has to be a joint effort by the Federations, Sports Authority of India and the Sports Ministry". She noted that full-fledged drug testing laboratory would be operational at the Jawaharlal Nehru Stadium here by the end of March next year.


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Markets
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Sensex: 3020.70, -15.70

The sensex closed at 3020.70, down 15.70
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Forex
 
1  U.S. $ = 49 INR
1  British Pound  = 75 INR
1  Canadian $ = 31 INR
1  Singapore $ = 28 INR
1  UAE Dirham = 13 INR
1  Saudi Arabian Riyal = 13 INR
1  Euro = 48 INR
1  Qatar Rial = 13 INR
Metals

 No data
Weather
Temperature : 82 F / 28 C  
 HeatIndex : 87 F / 31 C 
Humidity : 74%
Dew Point : 73 F / 23 C 
Wind : WSW at 9 mph / 14.5 km/h 
Wind Gust - 
Pressure : 29.65 in / 1004 hPa (Falling)
Conditions : Rain
Visibility - 
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