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[Grapevine] For 2 Jun, 2007



The Mumbai Grapevine Connecting Mumbaikars with Mumbai
(Published by Mumbai-Central.com)


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______News_______

(From various agencies)

Army conducts aerial survey over troubled Rajasthan
Jaipur, June 2 (PTI) Army today conducted an aerial survey of the violence hit districts of Rajasthan to review the road and traffic situation following clash between Gurjars and Meena communities. The aerial survey was conducted in Bharatpur, Dholpur, Alwar, Dausa, Karauli, Sawai Madhopur, Jaipur rural, Kota and Tonk as unrest continued in the state for the fifth day today over the Gurjars' demand for ST status to their community, a senior official said. Rajasthan Home Secretary V S Singh and the Director General of Police A S Gill also flew by a chopper to take a stock of rail-road traffic congestion, the Additional DGP (Law & Order) K L Bairwa told PTI. Army personnels and the state officials also met at a secondary school in Mahua of Dausa to plan ways to open the blockades on the Sikandra road connecting Jaipur-Dausa-Agra via Bharatpur and Karuali region, he said. The DGP and Home Secretary also discussed the means to evacuate thousands of pilgrims stranded at the Mehandipur Balaji temple since yesterday following a major road jam by people of both the communities, the Additional DGP said. He also there was no case of fresh violence today barring a few stray incidents of road blocks. He said that their is enough force to maintain law and order situation and efforts would be made to release the bodies of six persons killed in police firing for cremation. PTI

SEBI to launch nationwide investor education campaign
Mumbai, June 2 (PTI) Market regulator Sebi will soon launch a nationwide investor education campaign for the benefit of retail investors. "We will start a nationwide campaign in the course of the next two months. This will reach out not just to the people in the metros and people in the Tier II towns but wherever investible surpluses are available," SEBI Chairman M Damodaran told retail investors at the India Investment show. "We have already tied up with some large institutions in order that our investor education programme reached much beyond the metros and tier II towns," he said. Sebi will also be working closely with stock exchanges and the state governments in this matter to sort out the funding requirements and to have much wider participation. "We have within Sebi decided to commit money... Working along side with the two stock exchanges and will be working through the National Institute of Securities Market," he said. Underlining the importance of the retail investors Damodaran said: "If the Indian stock market is to function in a healthy manner over a long term and is to give reasonable return..., it is the retail investor that must necessarily be present in large number." PTI

MHA advisories to Rajasthan, neighbouring states for peace
New Delhi, Jun 2 (PTI) With violence in Rajasthan showing no signs of abatement, the Union Home Ministry today sent an advisory to the state asking it to initiate dialogue with eminent persons from both Gurjar and Meena communities for immediate restoration of peace. The MHA has also advised the state government to widely publicise joint appeals of promient leaders from both communities to maintain calm, a Home Ministry spokesman said. In view of the spread of the violence to neighbouring states, the Ministry issued an advisory to Uttar Pradesh, Madhya Pradesh, Haryana and Delhi to maintain alert and see that "there is no no spill over effect" of the agitation. The Ministry also appealed to the media not to carry any unverified reports and requested them to report events in a manner conducive to the restoration of peace and normalcy. The spokesman said that the Home Ministry was in constant touch with the Rajasthan Government and monitoring the situation closely. He said 2,900 para-military personnel and 500 state police personnel from neighbouring states have been desptched to Rajasthan to restore normalcy. PTI

Neiphiu Rio ministry in Nagaland gets majority MLA support
Kohima, June 2 (PTI) Ending speculation over the fate of the Neiphiu Rio ministry in Nagaland, a majority of ruling Nagaland People's Front (NPF) legislators today reaffirmed their solidarity behind the chief minister even as dissidents staked claim to form an alternative government under the leadership of former cabinet minister Z Obed. At a meeting of NPF legislature party, a major partner in the Democratic Alliance of Nagaland government, 26 out of 32 NPF MLAs in the 60-members state assembly reposed their faith on Rio, asserting that there was no threat to the survival of the present DAN ministry, party sources said. The meeting, held at the residence of the chief minister, discussed the latest political development in the state arising out of the move initiated by dissidents and known Rio baiters within the ruling alliance. Out of 32, six NPF dissidents, including four suspended MLAs, did not turn up for the meeting while two associate members of NPF (independent) out of four were also absent. The 43-member ruling alliance comprises NPF-32, associate members (independent)-4, BJP-5 and JD(U)-2 while opposition Congress has 17 members in the 60 member Nagaland assembly. The NPF legislators meeting also entrusted the party's disciplinary action committee to take steps against the dissidents who openly revolted against Rio and petitioned the governor, demanding a change of guard in the ruling alliance, NPF sources said. PTI

CPI(M) steps up attack on Rajasthan govt, calls for peace
New Delhi, Jun 2 (PTI) The CPI(M) today asked the Centre and the Rajasthan government to take steps to restore peace in the strife-torn desert state while blaming the "opportunist policies" of the BJP for the present tension. The party also appealed to the leaders and members of both Gurjar and Meena communities to desist from violence and come to the negotiating table to find an amicable solution to the crisis. "The opportunist policies and false promises of the BJP government is responsible for the present situation. There is danger that the confrontation between the two communities may spread to other states," it said. The CPI(M) had earlier demanded a judicial inquiry into the police firing on Gurjars and alleged that the Vasundhara Raje government has become "notorious" for its "heavy-handed police repression". In a statement, the party Polit Bureau asked the state government and the Centre to "take all appropriate measures to control the situation and restore peace and normal life in the disturbed areas." Meanwhile, violence continued to rock parts of Rajasthan for the fifth straight day today in the wake of the Gurjars' agitation for Scheduled Tribe status with protestors setting afire a railway station at Sanganer. PTI

Paes-Damm stunned, Bhupathi-Stepanek cruise
Paris, June 2 (PTI) Leander Paes and Martin Damm crashed out of the French Open men's doubles after a three-set loss in the second round today. The third seeded Indo-Czech pair, the reigning US Open champions, went down 3-6 6-1 3-6 to Michael Kohlmann and Rainer Schuettler of Germany. Meanwhile, Mahesh Bhupathi and Radek Stepanek from the Czech Republic advanced to the third round, beating Spaniard Guillermo Garcia-Lopez and Filippo Volandri of Italy 6-1 6-3. PTI

No naxal threat, but extra cover for Dhoni
Ranchi, Jun 2 (PTI) Even after denying any naxal threat to cricketer M S Dhoni, the Jharkhand police have decided to leave nothing to chance and provided complete security cover for the wicketkeeper-batsman. Dhoni, who arrived here today after visiting Delhi and Mumbai, was given additional protection on his way from airport to his residence. Besides gun-wielding state policemen, the Central Industrial Security Force personnel posted at the Birsa Munda Airport also joined to escort Dhoni till he got into a vehicle. The vehicle, having one policeman inside it, was escorted by a police car carrying five security men. Deepak Kumar Ambast, in-charge of Doranda police station under which Dhoni's house falls, said the procedure would be a routine from now on whenever Dhoni was in town. "It is quite normal to provide security to all VIPs," replied Ambast when asked whether the extra cover was given in the wake of the reports of naxal threat on Dhoni. "We will keep a strict vigil and accompany him whereever Dhoni visits," he added. On May 27, Jharkhand Director General of Police J B Mahapatra had denied reports by a section of media that the cricketer faced naxal threat. Dhoni gave a silent smile when he was told about it at the airport. PTI

Sania-Santoro cruise into 2nd round at French Open
Paris, June 2 (PTI) Sania Mirza and Fabrice Santoro advanced to the second round of the mixed doubles competition with a facile win at the French Open. The Indo-French pair broke no sweat in defeating Vania King of the US and Frantisek Cermak of the Czech Republic 6-2 6-0 in their opening encounter at Roland Garros on Friday. Twenty-year-old Sania and the seasoned Santoro were the clear winners as they broke their rivals five times in the match and saved the five breakpoints they faced. The duo won 50 points in all, as against Vania and Cermak's 29, in the match that lasted just 45 minutes. Later today, Leander Paes and Mahesh Bhupathi were scheduled to play, with their respective partners, men's doubles second round and mixed doubles first round matches. PTI

Flintoff doubtful for Test series against India
London, Jun 2 (PTI) Andrew Flintoff's arthroscopy on his left ankle may have gone well but the talismanic all-rounder looks doubtful for the Test series against India starting next month. The England and Wales Cricket Board said in a statement that yesterday's operation went well but Flintoff is unlikely to play before the end of the summer. "Andrew Flintoff has undergone an exploratory arthroscopy on his injured left ankle. Early signs are that the operation was routine and Andrew will begin his rehabilitation accordingly following successful removal of tissue contributing to anterior impingement in the ankle," the statement said. "Andrew will require a programme of strengthening and proprioceptive work before he can start to return to training and bowling. It is anticipated that he will aim to return to playing cricket before the end of the summer," it added. India is scheduled to play a three-match Test series in England, starting on July 19, followed by a seven-match ODI series, the first of which would be played at Southampton on August 21. PTI

PCB, players differ on new contracts
Karachi, Jun 2 (PTI) Less than a month before the new central contracts are put into place, differences between the Pakistan Cricket Board and players over the terms and conditions have come to the fore. After a meeting held in Lahore yesterday to discuss the new format for the contracts, PCB and captain Shoaib Malik dished out contrasting versions of the outcome. Shafqat Nagmi, the chief operating officer of the board, told reporters that the players had agreed to the new terms and conditions of the contract, based on performance rather than seniority. But, Malik told mediapersons, shortly after the meeting with Nagmi, that the format of the central contracts was yet to be finalised. "They have agreed to some of our suggestions and we have accepted some of their proposals. But the contracts would be finalised after a meeting with the board Chairman next week," the Pakistan skipper said. Nagmi said the players -- including Malik, Mohammad Yousuf, Shahid Afridi, Mohammad Asif and Salman Butt -- supported the idea of having performance-based contracts apart from getting a uniform monthly retainer. However, Malik said while the players agreed that it was a good idea to reward individual performances in the new contracts, seniority should also be taken into consideration. PTI

Sensex up 1.62 per cent, Nifty at new closing peak
Mumbai, June 2 (PTI) Stocks: Both the key indices -- the benchmark Sensex and Nifty -- extended their weekly gains in high volatility on the back of strong global cues and easing inflation pressure. The S&P CNX Nifty of the National Stock Exchange (NSE) breached 4,300 mark for the first time and touched a trading high of 4,325.80 before ending the week at a new closing peak of 4,297.05, netting a rise of 48.90 points or 1.15 per cent over last weekend's close of 4,248.15. The Bombay Stock Exchange (BSE) barometer fluctuated in a wide range of 14,682.10 and 14,368.40 and ended the week at 14,570.75 against last weekend's close of 14,338.45, a net gain of 232.30 points or 1.62 per cent. Capital Goods (CG), Consumer Durables (CD), Banking and Auto counters were in keen demand while IT and Fast Moving Consumer Goods (FMCG) shares reacted negatively due to profit- booking by investors. The trading activity was influenced by the expiry of May series as operators rolled over large part of their holdings to next series of derivatives. Operators rolled over more than 80 per cent of their outstanding positions, which indicates a bullish market in the next week. The market was fundamentally strong with the inflation falling for the fifth consecutive week to 5.06 per cent in the week ended May 19 and the economy growing to 9.4 per cent in fiscal 2006-07. Foreign Institutional Investors (FIIs) pumped in Rs 1,095 crore in the initial four days of the week under review. PTI

Nokia launches new phones in mid, premium category
By Yoshita Singh Langkawi (Malaysia), June 2 (PTI) Adding to its range of '6000' and '8000' series mobile phones, handset maker Nokia has launched three new devices in the mid and premium categories that are expected to hit the markets worldwide by September this year. The company unveiled the black and silver Nokia 6500 Classic and Nokia 6500 Slide along with the high-end Nokia 8600 Luna. The new phones are priced between Euro 320-700 (about Rs 17,600-38,500). While Nokia 6500 would make its worldwide debut by August-September, the 8600 Luna in the premium category would be out this month. The Classic will retail for about Euro 320 and the Slide for about Euro 370, while the high-end 8600 Luna is expected to sell for Euro 700. "Nokia continues to innovate and bring to its consumers a new mobile experience with each new phone. So while the new Nokia 6500 phones incorporate a number of design elements not often found in a mid-range device, the 8600 Luna would be a design statement...," Nokia Vice President (Asia Pacific Sales and Portfolio Management) Alex Lambeek told reporters here. Nokia 6500 Classic and Nokia 6500 Slide aim at bringing technologies like 3G as well as classic design to the mid- range phone segment. "Not wanting to exclude our mid-range phones from a combination of hi-technology and great looks, the Nokia 6500 phones bring together 3G WCDMA technology, micro-USB connector and detailed design," Lambeek said. PTI

Bosch signs MoU with Coimbatore-based engg college
Coimbatore, Jun 2 (PTI) Bangalore-based Robert Bosch India Ltd, a 100 per cent subsidiary of Robert Bosch GmbH, Germany, has signed a Memorandum of Understanding with the Coimbatore Institute of Technology (CIT) here seeking cooperation in various fields. Both would establish a 'joint working group', try to develop strategic linkages, assist students and enhance their knowledge about the latest technologies available with Bosch, a CIT release said today. A team from Bosch and CIT would jointly identify and reward the best project for final year engineering students. The institute would provide space to Bosch to display its books on technology, magazines, posters and related material, which would be named as 'Bosch Corner,' it said. A seven member team from Bosch--four from Germany and three from Bangalore-- had visited the institute to know about the Research and Development activities, laboratory facilities, studentsproject and the faculty strength, it added. PTI

FCI official arrested by CBI in Jammu
Jammu, June 2 (PTI) An employee of the Food Corporation of India (FCI) has been arrested by the CBI for allegedly accepting money from truck drivers for off-loading ration in a godown here, officials said. A CBI team, led by Additional Superintendent of Police, Jammu, K L Raina, raided the FCI godown at Chatha in the district yesterday and caught Madan Gopal accepting Rs 180 each from 11 truck drivers who were coming from Punjab, they said. CBI personnel took him into custody and recovered the money, they said, adding some documents were also found during the search at his house last night. While questioning the accused, it was revealed that the booty was allegedly shared from depot manager to top officers in the department, they said. The godown has also been sealed. The senior officers of the department could also be called for questioning, if required, in connection with the investigations, they said. PTI

Pak assemblies to be dissolved after electing Musharraf:Rashid
Islamabad June 2 (PTI) Pakistan President Pervez Musharraf would dissolve national and provincial assemblies soon after his re-election to the top post between September and October this year, a senior minister has said. Minister for Railways Sheikh Rashid Ahmad said national and provincial assemblies will be dissolved soon after Musharraf takes oath as President for a new five-year term, as part of a "constitutional mechanism" to pave the way for the next general elections. Rashid also insisted that Musharraf's talks for a rapprochement with self exiled former prime minister Benazir Bhutto was proceeding in the right direction. "Everything will become crystal clear between September 15 and October 15 this year and this includes a deal with Pakistan Peoples Party chairperson Benazir Bhutto," he told reporters here yesterday. Ahmed said Musharraf would contest the election while continuing in uniform, despite the criticism and threats by the opposition parties. He however said Musharraf has not yet taken a decision about retaining his uniform after 2007. Musharraf argues that he was constitutionally entitled to retain uniform until 2007 and would decide after that. Rashid said Musharraf's talks Bhutto was going in the right direction. "She (Bhutto) will return home after settling all details. May be she will not be able to take part in the general election, but she may contest a by-election," Dawn quoted him as saying. He said Bhutto's PPP, would be the main beneficiary of the agitation by the opposition parties in connection with the suspension of the supreme court chief justice Iftikar M Chaudhry. PTI

Imran Khan leaves for London to file case against MQM chief
K J M Varma Islamabad, Jun 2 (PTI) Pakistan's cricketer-turned politician Imran Khan today left for London, where he intends to take legal action against MQM chief Altaf Hussain for allegedly instigating the May 12 violence in Karachi, amid assurance by a British diplomat here that the UK would take action if any evidence was furnished. Khan, who was recently barred from entering Karachi - the stronghold of MQM, told the media at the Lahore airport before his departure that he would assemble a team of lawyers by tomorrow to initiate legal proceedings against Hussain, holding him responsible for the Karachi violence in which 42 people were killed. Khan did not directly say whether he would seek Hussain's extradition as the MQM leader had the British citizenship, but added that he would pursue a case as per British laws. He said he would base his case on the May 12 incidents in Karachi in which some activists of his Tehrek-i-Insaf party were killed along with other opposition workers. The MQM too has said that several of its party workers were killed in violence which erupted during the visit of suspended Chief Justice Iftikar M Chaudhry to address a convention of lawyers. As Chaudhry was virtually barred from leaving the Karachi airport, activists of different political parties clashed using fire arms resulting in heavy violence. Hussain has already sought services of Khan's cricket rival and former pace bowler Sarfaraz Nawaz, also a lawyer, to counter his charges. Nawaz, who is in London, said he has collected a fair amount of material to counter Khan. Meanwhile, Laura Davies, a spokesperson of British High Commission, here said yesterday UK would initiate action if any evidence is furnished against Hussain. PTI

Nepal to open embassy in Israel
Kathmandu, June 2 (PTI) Nepal is set to open an embassy in Israel after the Jewish state unveiled a new policy requiring all labour sending countries to establish a mission in the country. Nepal's Ministry of Foreign Affairs (MoFA), in a statement, said, "The embassy will be set up at the level of Charge 'd' Affairs in Israel." The decision to open an embassy in the Jewish state came after the Israeli government announced a new policy requiring all labour sending countries to establish a mission and depute labour attach. Citing the policy, Israel has stopped placing new labour demands and issuing calling visa for Nepali workers from May 1. The Israeli government's decision has hit more than 2,000 Nepali women job seekers, who usually spend more than Rs 25,000 - Rs 40,000 each for training to work as domestic help in the West Asian state. Israel is the most popular job destination for Nepali women workers. It has absorbed more than 12,000 workers till date. PTI


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______Market_______


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Sensex: 14570.75, +26.29

The sensex closed at 14570.75, up 26.29


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               This is the Mumbai Grapevine 
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______Forex_______

1  U.S. $ = 40.275 INR
1  Japanese Yen  = 0.3296 INR
1  British Pound  = 79.829 INR
1  Canadian $ = 37.981 INR
1  Singapore $ = 26.311 INR
1  UAE Dirham = 10.968 INR
1  Saudi Arabian Riyal = 10.739 INR
1  Euro = 54.148 INR
1  Qatar Rial = 11.065 INR


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