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[Grapevine] For 9 Jan, 2003



Title: The Mumbai Grapevine
The Mumbai Grapevine Connecting Mumbaikars with Mumbai
(Published by Mumbai-Central.com)
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Headlines
News:
Vajpayee announces dual citizenship for PIOs in certain countries
India testfires AGNI missile
Seven killed in Manipur encounter
Ten eminent NRIs and PIOs honoured by Vajpayee
Concessional airfare for amnesty seekers to be sought: Verma
India rejects proposals to import corn-soya blend from US
FTII blaze destroys pre-50s film trove
Pant for restructuring of oil PSUs on a "selective basis"
China to woo Indian tourists in 2003: official
Streak appeals to Australia, England not to boycott Zimbabwe
Tendulkar should open with Sehwag in World Cup: Srikkanth


Markets:
Sensex: 3384.20, +26.33




Forex, Metals and Weather below

News
Vajpayee announces dual citizenship for PIOs in certain countries
New Delhi,Thursday, January 09, 2003: The first ever NRI convention in India opened here today with Prime Minister Atal Bihari Vajpayee announcing dual citizenship to People of Indian Origin (PIO) in certain countries, a demand hanging fire for years.

"My Government has decided to accept the High-level Committee's recommendation to permit dual citizenship of inaugurating the 'Bharatiya Pravasi Divas' being attended by Indian diaspora from 60 countries here.

"We are now working on the administrative regulations and procedures governing dual citizenship. We will introduce the necessary legislation during the Budget Session of Parliament," Vajpayee said at the three-day convention.

The Prime Minister also announced that a compulsory insurance scheme for Indian workers migrating to the Gulf region would be unveiled shortly.

Parliament was already considering a bill to establish a welfare fund for overseas Indian workers, he said, adding the Government planned to reserve a certain proportion of seats in academic insitutions to meet the educational needs of children of Gulf NRIs.

In an effort to engage closely with communities of Indian origin, Vajpayee said "we are setting up an advisory committee, which will meet periodically to suggest new initiatives to the Minister of External Affairs".

To mark the three-day PIO convention, the Prime Minister also honoured ten eminment PIOs including Mauritian Premier Anerood Jugnauth, former Commonwealth Secretary General Sridath Ramphal, Malaysian Minister D Samy Vellu and McKinsey CEO Rajat Gupta.


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India testfires AGNI missile
Balasore,Thursday, January 09, 2003: India today successfully testfired the short range variant of the nuclear-capable AGNI ballistic missile which can strike targets upto a distance of 700 kms.

The surface-to-surface missile was test fired from a mobile launcher in clear weather, for the second time in one year, at 0847 IST from the coastal testing range at Chandipur-on-sea in Orissa.

The first test firing of the AGNI-I variant took place on January 25 last year.

Today's launch comes a day after Pakistan inducted the HATF-V Ghauri missile.

"Today's test firing of the missile was a smooth text book launch," according to Defence sources here.

The 15-metre tall 12-tonne missile with a one metre diameter is powered by solid fuel propulsion.

The launch of the one-stage missile is expected to help defence scientists validate some crucial technologies like guidance and telemetry systems.

Defence Minister George Fernandes and the Defence Research and Development (DRDO) Chief and Scientific Adviser to the Defence Ministry Dr V K Aatre were among others who witnessed the launch.

Defence sources said a few more tests of the shorter range variant of AGNI missiles were likely to take place in the next few weeks.

Brahmos cruise missile, which is a Indo-Russian joint venture, other missiles like surface-to-air Akash and anti-tank Nag missile are also likely to be test fired in the near future.


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Seven killed in Manipur encounter
Imphal,Thursday, January 09, 2003: At least seven persons including a Border Security Force captain were killed in an encounter with insurgents in Sajit Tampak area of Manipur's Chandel district, official sources said today.

Sources said four BSF personnel and three insurgents were killed in the exchange of fire which continued for the second day today.

Several BSF personnel were also injured.

A "spokesman" of the Manipur People's Liberation Front (MPLF), which exchanged fire with the BSF, claimed there was no casualty on its side.

Describing the encounter, which began at 9.30 AM Wednesday and was still continuing, sources said it was the fierce ever between security forces and insurgents in the state in the past few decades.

According to earlier reports from the spot, about 100 kms south-east of Imphal, at least four BSF personnel, including Captain Vivek Saxena, who hailed from Lucknow, were killed and some others sustained bullet injuries.

The exact number of wounded personnel was not yet known, sources said, adding over 500 insurgents used sophisticated weapons including rockets, rocket launchers and AK 47 rifles besides other arms.

MPLF was formed earlier by the United National Liberation Front (UNLF), Revolutionary People's Front (RPF) and People's Revolutionary Party of Kangleipak (PREPAK).


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Ten eminent NRIs and PIOs honoured by Vajpayee
New Delhi,Thursday, January 09, 2003: Mauritian Premier Anerood Jugnauth, former Commonwealth Secretary General Sridath Ramphal and McKinsey Managing Director Rajat Gupta were among ten eminent Indians settled abroad honoured today by Prime Minister Atal Bihari Vajpayee on the occasion of 'Pravasi Bhartiya Divas'.

Other Non-resident Indians and Persons of Indian origin honoured were British MP Lord Navneet Dholakia, Ujjal Dosanjh, former Premier of British Columbia (Canada); D Samy Vellu, a Malaysian Minister; Fatima Mir, well-known freedom fighter from South Africa; Manubhai Chanderia, businessman and philanthopist from Kenya; Harilila, businessman from Hong Kong and Kanakbhai Khemji, a businessman in Oman whose family is settled there for the last 300 years.

Nazir Ahmed, a labourer, who had shifted to Trinidad and Tobago in the early 30's was also honoured on the occasion.


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Concessional airfare for amnesty seekers to be sought: Verma
Dubai,Thursday, January 09, 2003: Promising hope to thousands of illegal Indians staying in the Emirates, Labour Minister Sahib Singh Verma has said the Centre's intervention will be sought to provide concessional airfares to needy nationals leaving the UAE under a four-month amnesty.

The Minister, who stopped over in Dubai on Tuesday on his way to Iran visited a labour camp and spent time with the Indian workers and enquired about their problems.

George Joseph, the Consul General, who accompanied Verma said the Minister would seek the Centre's intervention to get low airfares for the needy Indian illegal residents here.

The Minister also said he would look into the working of the protector of emigrants so that the funds vested with it can be used for the welfare of the expatriates to provide for the passage of the needy or introduce insurance schemes.

More than 30,000 illegal Indian residents are likely to avail of an amnesty that began on January one. The UAE Government estimates some three lakh illegals would leave the country during the four-month amnesty.


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India rejects proposals to import corn-soya blend from US
New Delhi,Thursday, January 09, 2003: After rejecting a Rs 500 crore U.S food-aid consignment containing corn-soya blend, India has turned down two proposals to import this item citing bio-safety concerns.

The proposals for the import of 23,000 tonnes corn-soya blend from the U.S were rejected by the Genetic Engineering and Approvals Committee (GEAC)

The importers - CARE and Catholic Relief Society (CRS)- had approached the GEAC for permission to import 15,000 and 8,000 tonne corn-soya blend respectively, official sources told PTI here today.

However, GEAC rejected the proposals last month on account of bio-safety concerns, they said.

But both CARE and CRS have approached the Appellate Authority on Issues of GM Organisms which will hear the complaint on February 11, they added.

The disapproval followed rejection of a Rs 500 crore US food-aid consignment containing corn-soya blend on concerns over bio-safety. The rejection was made known only recently.

Meanwhile, official sources said government is sensitive to the local development or import of GM crops which are part of the food-chain.

It is against this background that introduction of GM mustard was deferred, subject to further tests even though GM cotton is already being cultivated.

Genetically modified varieties of both maize and soyabean are cultivated on a large scale in the US and are part of its international trade, they added.


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FTII blaze destroys pre-50s film trove
PUNE: A major fire that broke out on the campus of the Film and Television Institute of India (FTII) here on Wednesday afternoon saw over 3,000 original nitrate-based film prints from the pre-1950 era go up in smoke.

The heritage Prabhat studio (Studio 1) was also charred in the blaze, which broke out around 12.30 pm.

The fire gutted the air-conditioned film storage vault for nitrate-based films belonging to the National Films Archive of India (NFAI), housed on the adjacent FTII campus. While NFAI officials here refused to divulge details about the films destroyed in the fire, an official of the information and broadcasting ministry in New Delhi said all was not lost as the NFAI was in possession of back-up prints of all the 3,000-odd nitrate-based films.

Informed sources told TNN that archival prints of illustrious film-makers like Ritwik Ghatak, Satyajit Ray, Ingmar Bergman, Akira Kurosawa and Frederico Fellini are feared destroyed in the blaze.

The I&B ministry official said the FTII, NFAI and civil construction wing have been asked to submit a detailed report of the incident within a week. According to sources, NFAI director K.S. Sasidharan and FTII director Prem Matiani, who were in Delhi to attend a Planning Commission meeting, were rushing back to Pune to assess the damage.


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Pant for restructuring of oil PSUs on a "selective basis"
New Delhi,Thursday, January 09, 2003: Planning Commission Deputy Chairman K C Pant today prescribed restructuring and disinvestment of oil PSUs on a "selective basis" to achieve the 8 per cent economic growth target set for the 10th Five Year Plan period. Addressing the theme session of the Petrotech 2003 conference here, Pant said "the Tenth Five Year Plan lays down the priorities for the oil and gas sector to further the development and consolidation of the oil and gas industry. Some of the import measures in this regard include restructuring and disinvestment of PSUs on a selective basis".

Pant's comments assume importance in the wake of the ongoing debate on disinvestment of oil PSUs which has seen intense bickering over the mode and quantum of Government stake sale.

While it has been decided to sell Government shareholding in Hindustan Petroleum Corporation Ltd to a strategic partner, a public offering of equity shares would be made in case of Bharat Petroleum Corporation Ltd (BPCL). Besides, the Government had earlier decided to retain majority ownership in all times to come in the three flagship companies, Indian Oil Corporation, Oil and Natural Gas Corporation and GAIL.

Pant also called for creation of an apex committee on energy to manage the trade-offs between the divergent objective that could arise between the different sub-sectors.


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China to woo Indian tourists in 2003: official
Beijing,Thursday, January 09, 2003: China will woo more foreign tourists, including Indians to the country in 2003 and earn a record 21.5 billion dollars, a senior industry official has said. China would further promote inbound tourism in 2003, seeking tourists especially from the US, Germany and India, Chairman of the China National Tourism Administration (CNTA), He Guangwei said at the CNTA's three-day annual meeting in east China's Hangzhou city Wednesday.

He had visited India in December last year and signed a major bilateral tourism agreement with India which would allow Chinese tourists to visit India in groups.

He said China's income from tourism is predicted to reach an all-time high of 75 billion dollars in 2003, up 8.5 per cent from 2002.

The goal for 2003 is to receive 100 million inbound tourists, including 14 million foreigners, he said.

Foreign tourism income is expected to reach 21.5 billion dollars. Domestic travellers will reach 900 million, with domestic tourism generating income of 53 billion dollars.

China would also boost tourism cooperation with developed countries to strengthen friendly relations with them.

The 15th meeting of the World Tourism Organisation will be held for the first time in China from October 17 to 24 this year, the CNTA Chairman said.

United Nations Secretary General Kofi Annan, over 70 government ministers and 1,000 industry representatives will attend the WTO meeting.

He said the meeting would provide a good opportunity for China to show its latest tourism achievements.


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Streak appeals to Australia, England not to boycott Zimbabwe
Durban,Thursday, January 09, 2003: Zimbabwean cricket captain Heath Streak has appealed to his Australian and England counterparts not to boycott his country during the World Cricket Cup tournament next month.

Streak, speaking on behalf of his players, was today reported on South Africa's national radio station, SAFM, as saying that he could not understand why politics should be brought into cricket.

He was responding to attempts by the British, Australian and New Zealand governments to prevail on their players not to play in Zimbabwe because of "political instability" created by President Robert Mugabe.

Streak said that Zimbabwean cricket should be given a chance and wanted to appeal to England and Australian players to play in his country.

He said there were no problems in Harare and Bulawayo, where the World Cup matches are scheduled to be played.

Zimbabwe would play six of their matches in these two venues against Australia, England, India, Pakistan, Holland and Namibia.

Meanwhile, the president of the United Cricket Board of South Africa, Percy Sonn, today said he had no regrets about including Zimbabwe as one of the host countries during the World Cup.

"It's still the view of the UCB that it was the correct decision to share matches with Zimbabwe and Kenya," he said.


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Tendulkar should open with Sehwag in World Cup: Srikkanth
Mumbai,Thursday, January 09, 2003: Former captain Krishnamachari Srikkanth today said Sachin Tendulkar should open the batting with Virender Sehwag in the forthcoming World Cup cricket tournament in South Africa next month.

"I don't believe in left hand-right hand combination theory. I had said before and I am saying it now that the best batsman in the side should open the innings. Without doubt Sachin is the best batsman in the world and he should be opening the innings," Srikkanth told reporters here during Sony MAX's announcement of commentators' panel for the World Cup.

"Indian skipper Sourav Ganguly, who is not in the best of form at the moment should push himself down the order and once he gets back his confidence he should go at number three followed by Rahul Dravid, Yuvraj Singh and Mohammed Kaif," he said.

However, former Sri Lankan skipper Arjuna Ranatunga, who is also on the commentators panel along with Arun Lal, Laxman Sivaramakrishnan and Robin Singh, said "both Tendulkar and Ganguly should come down the order and Dravid, who is technically correct, should be opening the batting with Sehwag".

Cricketer turned politician, Ranatunga, who will be contesting the Sri Lankan Cricket Board elections soon, said "to be successful in World Cup matches, two most experienced batsmen in the side should take up the fourth and fifth positions".

"Aravinda De Silva and I used to come in number four and five positions and performed without much pressure during the 1996 World Cup which we won," he said.


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Markets
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(updated multiple times a day)
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(updated once a day)
Sensex: 3384.20, +26.33

The sensex closed at 3384.20, up 26.33
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Forex
 
1  U.S. $ = 47.8600 INR
1  Japanese Yen  = 0.4017 INR
1  British Pound  = 77.0067 INR
1  Canadian $ = 30.7110 INR
1  Singapore $ = 27.5517 INR
1  UAE Dirham = 13.0295 INR
1  Saudi Arabian Riyal = 13.0295 INR
1  Euro = 50.3200 INR
1  Qatar Rial = 13.1447 INR
 
Metals

 No data
Weather
Temperature : 77 F / 25 C  
Humidity : 61%
Dew Point : 63 F / 17 C 
Wind : NW at 6 mph / 9.7 km/h 
Wind Gust - 
Pressure : 29.94 in / 1014 hPa (Steady)
Conditions : Smoke
Visibility - 
 Clouds (FEW): 10000 ft / 3050 m 
  
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