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Pratibha Patil emerges as frontrunner for Prez elections
New Delhi, June 14 (PTI) Pratibha Patil, Governor of Rajasthan, today emerged as a surprise UPA frontrunner for the post of President after the Left parties persisted with their opposition to Congress party's first choice Shivraj Patil.
Patil's name began doing the rounds in political circles after the Left parties reportedly maintained that they would not support the Union Home Minister or another Congress leader Dr Karan Singh.
The 72-year-old former Deputy Chairperson of the Rajya Sabha and Maharashtra minister has been Governor of Rajasthan for nearly three years. PTI
Musharraf, MQM plotted Karachi violence: Imran
Islamabad, June 14 (PTI) Pakistan's cricketer-turned-politician Imran Khan has accused President Pervez Musharraf and the Muttahida Qaumi Movement of plotting the violence in Karachi on May 12 that killed at least 48 people when the country's suspended top judge attempted to visit the city to address a meeting of lawyers.
President Musharraf and the Muttahida Qaumi Movement (MQM) connived to stage the bloodshed in Karachi on May 12 when suspended Pakistan Supreme Court Chief Justice Iftikhar Muhammad Chaudhry attempted to visit the city to address the Sindh High Court Bar Association (SHBA), Khan alleged on the BBCs Hard-Talk programme yesterday.
Khan, the Chairman of Pakistan Tehrik-e-Insaaf (PTI) party, expressed surprise that Musharraf has refused to investigate the violence in port city Karachi even though 48 people were killed and more than 100 injured.
"How can a head of a state refuse to hold an enquiry into the killings of 48 people?, Khan questioned, adding "If an independent enquiry was held, he (Musharraf) would directly be implicated in that because MQM would then point the finger at Musharraf." Khan said the top judge had visited several places in Pakistan but not a single shot was fired. The only difference in Karachi was the MQM.
He said the violence was triggered because the MQM staged a rally on the same day Chaudhry arrived in Karachi.
The leader of the PTI said he was surprised that Hussain had been given a British passport as "there are 230 cases including 30 murder cases and 12 torture cases pending" against "Pakistans most wanted terrorist".
Hussain has UK citizenship and lives in London. Khan lodged a formal complaint with the Scotland Yard yesterday seeking a criminal investigation into the "activities" of MQM leader Altaf Hussain, including terrorism and money laundering. PTI
Treaty to prevent nuke terror to come into force next month
United Nations, June 14 (PTI) A new treaty seeking international cooperation to prevent acts of nuclear terrorism and bring perpetrators to justice will come into force on July 7, almost two years after it was adopted.
Bangladesh became the 22nd country to ratify the International Convention for Suppression of Acts of Nuclear Terrorism which allows it to enter into force.
United Nations Secretary-General Ban Ki-moon congratulated the States that have already ratified or acceded to the Convention for making it possible for it to enter into force with such speed.
Calling nuclear terrorism "one of the most serious threats of our time," he observed that even one such attack could inflict mass casualties and create immense suffering.
"This prospect," he added, "should compel all of us to prevent such a catastrophe." Not only will the new Convention thwart terrorists from attaining "the most lethal weapons known to man," but it will be the 13th international instrument on terrorism, bolstering existing global mechanisms against the menace, he said.
The Convention will also promote cooperation among nations, which is key in tackling terrorism.
The Secretary-General appealed to all States to ratify or accede to the treaty "without delay," noting that last September, the General Assembly adopted the UN Global Counter-Terrorism Strategy which also calls for universal adherence to anti-terrorism conventions.
Originally proposed by Russia, the Convention was adopted on April 13, 2005 and 115 countries have signed it. PTI
Indians have to learn to cope with pressure: Ponting
Bangalore, Jun 14 (PTI) Australian captain Ricky Ponting today diagnosed the ailments of Indian cricket as "mental pressure" and advised the team to learn to cope with it.
"India is playing under a lot of mental pressure. They must learn how to cope with it," Ponting said.
Ponting, who led Australia to an unprecedented fourth World Cup win in the West Indies in April, said he a lot of respect for Sachin Tendulkar.
"He is the best batsman I have seen and I am trying to be as good as him," he said.
Talking about the reasons for the phenomenal success of the Aussies, Ponting said his teammates always kept the bar raising for themselves.
"We must never be happy with what we have achieved and try as hard as anybody else. We never restrict ourselves because when you put restrictions on yourself, you cannot achieve great things," the Tasmanian said.
Ponting was speaking at a function to announce a scheme by which every run that he scores in one-day internationals this year will help to provide education to underprivileged children.
The Australian skipper said he hoped to score a lot of runs to ensure that underprivileged children get a decent education.
"As a youngster, I was given several opportunities and I never took anyone for granted and I am sure these kids would do the same," he said.
Ponting said he had never seen children enjoy cricket as much as they did in India. PTI
PCB calls on Jamaica police to investigate Seshaiah claims
Karachi, Jun 14 (PTI) Miffed with pathologist Ere Seshaiah for continuing to insist that Bob Woolmer was murdered, Pakistan Cricket Board today called on Jamaica police to initiate an internal inquiry into the "mess" caused by his autopsy report.
A senior PCB official said Seshaiah's statement was a disappointment.
"We do not want to comment on it as we want this matter closed now. It has already caused enough heartbreak and trauma. But yes, we would expect the Jamaican authorities to hold an internal inquiry into this mess up," the Board's Director (Cricket Operations) Zakir Khan said.
Khan maintained that the PCB would not initiate legal action against Jamaica Police or Seshaiah but would want the Jamaican authorities to analyse their handling of the case.
"It would be good if they took a look at what went wrong and held an inquiry. Because this entire episode was a source of pressure for us," he said.
Opposition members in the Jamaican government have also called for action against officials responsible for declaring Woolmer's death a homicide.
Seshaiah, however, continued to insist that Woolmer was strangled to death.
"I am sticking to my findings. He was murdered," Seshaiah told the 'Jamaica Observer'.
His statement came a day after Jamaica Police admitted that the coach had died of natural causes after accepting the findings of three independent pathologists from South Africa, Canada and Britain. PTI
Sun TV to broadcast Ireland series in regional flavour
Mumbai, Jun 14 (PTI) Kalanidhi Maran-promoted media group Sun TV Network Ltd today said it will broadcast live feed of ODI series between India, Pakistan, South Africa and Ireland in Tamil, Telugu and Kannada languages.
The group has signed an exclusive cable and satellite channels agreement with Nimbus - the holder of broadcast rights - for live feed of the series, to be played from June 23 to July 3, Sun TV told the Bombay Stock Exchange.
"This is a long-term agreement with Nimbus with respect to any cricket series over cricket seasons 2007-2008 to 2009-2010 in the languages of Tamil, Telugu, Kannada and Malayalam for which Nimbus has the rights," Sun TV added.
On Sun News the feed would be telecast with Tamil commentary, on Gemini News it would be with Telugu commentary and on Udaya Varthegalu the commentary would be in Kannada.
Sun TV, however, did not give any financial details of the deal.
After the announcement of the agreement, shares of Sun TV jumped 6.84 per cent and closed at Rs 1,457.05 on the BSE. PTI
Ponting reveals Aussie success mantra
Bangalore, Jun 14 (PTI) The secret of Australia's continued success on the cricket field lay in the fact that the players treated themselves as the second best team in the world, captain Ricky Ponting said today.
When preparing for a match or a tournament, the team considered itself the number two team, which needed to get better, Ponting said.
According to the two-time World Cup winning skipper, "We must never be happy with what we have achieved and try as hard as anybody else." The Australian team did not set itself any targets when it went out on the field as they did not want to put any restrictions on themselves regarding the total.
"We never restrict ourselves because when you put restrictions on yourself, you cannot achieve great things," the Tasmanian said.
The trials and tribulations in Indian cricket did not escape Ponting's attention.
"I don't really know....India is playing under a lot of mental pressure. We must learn how to cope with it." The respect Ponting had for Sachin Tendulkar also came through, as the Mumbai batsman was described as one of the all-time greats.
"He is the best batsman I have seen and I am trying to be as good as him." Ponting was speaking at a function announcing a scheme through which every run that he will score in one-day internationals throughout the year will help get underprivileged children to school. PTI
China posts 77 per cent growth in steel exports in May
Beijing, June 14 (PTI) China witnessed a 77 per cent surge in export of rolled steel in May despite a drop a month earlier, Commerce Ministry officials said today.
The country which is the world's largest steelmaker, exported 6.17 million tonnes of rolled steel last month, a decline of 13.8 per cent from the record level in April of 7.16 million tonnes, but a year-on-year growth of 76.8 per cent.
Accumulative exports for the January-May period amounted to 27.44 million tonnes, up 116.7 per cent from a year earlier, latest customs data showed.
The ministry sources said Chinese firms had exported as much steel as possible before the government begins to impose duties on steel exports from June one to rein in expansion of the domestic steel industry.
China imported 7.28 million tonnes of rolled steel in the first five months, down six per cent from the previous year.
The nation's iron ore imports stood at 161.15 million tonnes in the five-month period, up 21.4 per cent, Xinhua news agency reported. PTI
Global rally lifts Sensex by 201 points
Mumbai, Jun 14 (PTI) Strong global rally today revived the Indian stock market, whose benchmark index Sensex advanced by 201 points on aggressive purchases by institutional investors.
The market had fallen by 128 points yesterday, tracking weak global cues and sustained FII withdrawals.
The Bombay Stock Exchange (BSE) 30-share sensitive index (Sensex) opened firm at 14,087.91 and gradually moved upward to the intra-day high of 14,219.24 before ending the day at 14,203.73, up by a whopping 200.69 points or 1.43 per cent over yesterday's close.
Similarly, the broad-based S&P CNX Nifty of the National Stock Exchange (NSE) shot up by 56.95 points or 1.38 per cent to 4,170.00 from the previous close of 4,113.05.
Market players said the bourses took a cue from the sharp turnaround in Asian markets, indices of which were nearly one to 3 per cent up. Chinese market, however, bucked the trend.
The Hang Seng ended higher by 1.4 per cent, the Nikkei by 0.62 per cent, Singapore ST by 0.63 per cent, the Kospi by 2.74 per cent and Taiwan Weighted Index by 1.25 per cent.
The Dow Jones Industrial Average ended 187.34 points up and the Nasdaq Composite Index gained 32.54 points yesterday.
Foreign Institutional Investors (FIIs) were believed to be covering short positions in the futures after pumping in about Rs 545 crore in cash on June 12.
Shares of metal and capital goods segments were in the limelight. A sharp surge in metal prices on LME last night prompted a rally on the local metal exchange. PTI
Pilots shortage looms large, make training affordable: Experts
New Delhi, Jun 14 (PTI) The world's airline industry will need 25,000 planes by 2025, in addition to the 17,000 planes that will already be in service.
A study states that new planes will require more than 18,000 new pilots every year -- 360,000 pilots over the next 20 years -- on average through 2025 as well as 480,000 new mechanics during that period of time.
"The aviation industry therefore should cut down costs of pilot training," Sherry Carbary, President, Alteno Training said at the 10th Annual World Aviation Training Symposium and Tradeshow (WATS) in Orlando, Florida on Wednesday.
"The aviation training industry needs to lower the cost of simulators, increase training quality and efficiency and reduce the time required to train pilots," Pilot and maintenance training is a USD 3 billion business worldwide in the over 90 seat market. The cost of pilots, maintenance and cabin crews, and the associated training costs represent up to 20 percent of an airline's operating budget," she said.
Alteon, a wholly owned subsidiary of The Boeing Company within Boeing Commercial Airplanes' Commercial Aviation Services group said that most crucial issues facing the industry is the increasing demand for pilots, maintenance and cabin crew.
"Both Boeing and Airbus agree that the world's fleet will more than double over the next twenty years," Carbary said in a Press Release issued through AsiaNet.
"As the need for training continues to rise, we must, as an industry, find a way to lower the costs," she stated. PTI
LIC Housing to launch reverse mortgage schemes in 2 months
Mumbai, June 14 (PTI) LIC Housing Finance (LICHFL) today said it will launch reverse mortgage schemes for senior citizens in a couple of months, under which the elderly will be able to take loan of up to 45 per cent of value of their homes.
"We are interested in reverse mortgage. We are working on it and the product will be launched in a couple of months as the National Housing Bank (NHB) has already come out with guidelines," LICHFL Chief Executive Officer and Director S K Mitter told PTI in an interview.
Under the reverse mortgage, senior citizens and their spouse will get loan of up to 45 per cent of the value of their property with repayment stretching to up to 15 years, he said.
The person seeking reverse mortgage would have the option of getting the property revalued every five years and at the end of the term of the mortgage, he has to repay the loan amount with interest, he said.
The scheme would be available for senior citizens aged up to 75. One of the spouses could, however, be 55-60 years if the property is jointly owned.
Giving details of the scheme that is being worked out with the housing companies, he said the interest on reverse mortgage would be a floating rate on par with the prevailing rates on housing loans.
Since the issue of guidelines by the NHB, so far two lenders have announced plans for reverse mortgage scheme -- Dewan Housing Finance and Bank of Baroda. PTI
PMO meeting on Posco steel project rescheduled to June 26
Bhubaneswar, June 14 (PTI) The review meeting by Prime Minister's Office (PMO) on the progress of South Korean steel major POSCO's 12 million tons a year greenfield project in Orissa has been postponed to June 26.
The meeting, which was earlier scheduled for tomorrow, was rescheduled following a request by the state government, a senior company official said.
Orissa government reportedly informed the PMO that one more week before the review meeting would enable it to send the forest land diversion proposal to Ministry of Environment and Forest for clearance, which was linked to land acquisition for the project.
Of the 4,004 acres of land sought by the company to set up its steel plant, 3,566 acres was with to the government while private owners held 437 acres.
However, of the government land, around 3,100 acres is forest land, which the state administration could not give to the company directly without clearance from the Union Ministry of Environment and Forest.
POSCO authorities, while waiting for the land to be acquired for about two years after signing the MoU with the government, are keen that things should move faster.
But inhabitants of several villages facing displacement to make way for the project have been demanding that the company should move to some other place. PTI
Iraqi president to visit China to boost bilateral ties
Beijing, Jun 14 (PTI) China has invited Iraqi President Jalal Talabani will pay a state visit next week so as to cement the bilateral ties with the war-torn oil-rich nation.
Chinese President Hu Jintao has invited Talabani to visit the country from June 20 to 26, Chinese Foreign Ministry spokesman Qin Gang said.
Hu will hold official talks with Talabani. The Iraqi leader will also have meetings with China's top legislator Wu Bangguo and Chinese Premier Wen Jiabao, respectively.
The two sides will exchange views on bilateral relations and international and regional issues of common concern, Qin said, adding the two sides will sign agreements on the cooperation between the two foreign ministries and on cooperation in such fields as education and health.
He did not say whether energy-hungry China will sign any new oil deals with Iraq during Talabani's visit.
Besides Beijing, the Iraqi president will also visit northwest China's ancient city of Xi'an and Nanjing, capital of eastern Jiangsu Province. PTI
US pressing Pak to hold free and transparent polls: Boucher
Islamabad, June 14 (PTI) The US is pressing the Pakistani leadership to hold "free, fair and transparent" elections that "meets international standards," said a top American diplomat for South Asia, who discussed the preparations for the polls due at the end of the year with the country's Chief Election Commissioner.
Discreetly silent on the controversy over President Pervez Musharraf's plan to get himself re-elected while holding the post of the Army chief, visiting US Assistant Secretary Richard Boucher said US was "adamant" that the general elections should be "free and fair", but wanted the crisis sparked off by the suspension of chief justice Iftikhar M Chaudhry to be left to the court to resolve it.
"The elections should be free, fair and transparent. They should meet international standards," said Boucher, who met Pakistani ruling and Opposition politicians and assured them that the US was pressing President Pervez Musharraf to hold free and fair elections in the country.
Without directly commenting on the Opposition parties' demand that Musharraf should quit as Army Chief, Boucher said that the President had made some commitments on the issues of fair polls, uniform and war on terrorism and the US believed that he would fulfil them.
He said the US wanted to have friendship with the people of Pakistan and not with just an individual.
On the crisis sparked off by Chaudhry's suspension, Boucher said US expected the judicial process in Pakistan to resolve the issue. He said that the judicial process had to be respected.
While assuring them about the US commitment for free and fair polls, Boucher, during a reception yesterday also briefed them about his talks with Pakistan Chief Election Commissioner Qadir Muhammad Farooq. PTI
PML (N) leader says Sharif legal prime minister of Pakistan
Islamabad, June 14 (PTI) A senior Pakistan Muslim League-N leader created a flutter in the National Assembly by briefly keeping the picture of deposed premier Nawaz Sharif on the chair of the Leader of the House and declaring that he was the legal and Constitutional prime minister of the country.
While speaking on the budget, PML-N leader Tehmina Daulatana took out Sharif's picture from her bag and waved it, saying he was still the prime minister of Pakistan and termed President Pervez Musharraf as a "usurper." She then moved towards the seat of the Leader of the House where the prime minister sits and placed the picture of Sharif there. Prime Minister Shaukat Aziz was not present in the house.
From the back benches, two women ministers of the ruling PML came towards Daultana and demanded that the picture be removed.
Assembly speaker Amir Hussain asked Daultana to remove the picture and instructed her not to do it again.
"You have a right to talk but what are you doing is too serious. I am seeing such an attitude on the floor of the House for the first time," he said when she walked to the prime minister's seat and put Nawaz Sharif's picture there.
Daultana then removed the picture and went back to her seat.
Sharif recently said in an interview that he was sill the prime minister as he was illegally ousted by Musharraf in 1999.
Earlier, Tehmina criticised the government for the prolonged detention of her party's parliamentary leader Javed Hashmi, who was sentenced to 23 years imprisonment for criticising the army. PTI
Privacy commissioner ordered to testify at Air India inquiry
Toronto, June 14 (PTI) The head of the Air India inquiry has asked Canada's privacy commissioner to explain why she gave a media interview criticising a no-fly list which is to be implemented in the country from next week.
Privacy commissioner Jennifer Stoddart, who had previously told the commission she had nothing to add to information her office had provided, last week commented on previous inquiry testimony about the implementation on June 18 of a no-fly list, under which people who pose "an immediate risk to aviation security" will be barred from flying.
"She (Stoddart) apparently had no hesitation in giving information to the public ... That should have properly been given to this commission," a clearly disgruntled Justice John Major observed yesterday.
In what Major called "Ms Stoddart's free-wheeling press interview," she suggested that the list could become a nightmare for ordinary Canadians, who could end up being challenged every time they fly.
The inquiry is investigating the 1985 bombing of Air India Flight 182 which killed 329 people.
Part of the inquiry's mandate is to take a wider look at evolving terrorist tactics, and the need to reform security practices to prevent another attack.
As the inquiry resumed yesterday after a week-long break, Major also issued a subpoena requiring representatives of the International Air Transport Association to appear before him.
Officials from the IATA, which represents airlines, had said they would prefer not to testify and would send a written statement. PTI
China asks Vietnam to stop oil exploration in South China Sea
Beijing, June 14 (PTI) China today accused Vietnam of "infringing" on its sovereignty by conducting oil exploration activities in the South China Sea, violating a regional code of conduct and asked Hanoi to stop all such "unilateral" activities to avoid "further complications." Claiming "indisputable" sovereignty over Nansha Island (the Spratly Islands) and its adjacent islands, Chinese Foreign Ministry spokesman Qin Gang said Vietnam's activities have "infringed" upon Beijing's rights over its territory.
"We hope the Vietnamese side can stop the activities in the region and refrain from taking unilateral actions to avoid the further complication of the situation in the region," he said.
"On the South China Sea issue, our position and policies are consistent. We are ready to have equal consultation to properly solve the issue with relevant parties and make joint development while reserving differences," the spokesman said.
Meanwhile, media reports said UK's BP Plc has halted plans to conduct exploration work off the southern Vietnamese coast due to territorial dispute between Hanoi and Beijing.
The block is about 370 km offshore, between Vietnam and the Spratly Islands, a string of rocky outcrops in the South China Sea, believed to hold large oil and gas deposits, which are jointly claimed by Vietnam, China and Taiwan.
Vietnam and China had fought a brief but bloody war in 1979 after Vietnam occupied Cambodia and overthrew the Khmer Rouge regime backed by Beijing.
China and Vietnam normalised their diplomatic relations in 1991 and the Communist Party of China and the Communist Party of Vietnam are negotiating ways to end their land and sea border disputes. PTI
Pali (Haryana), Jun 14 (PTI) Not far from the buzz of the capital, a group of men enjoy a game of cards on a hot afternoon under a tree. "This is one luxury we get when we wait for jobs," they say.
They operate massive crushers day in and day out for the glossy structures that will rise in the capital for its "Commonwealth makeover." The Crushers Zone, has caught the attention of NGOs working against bonded labour.
"Nearly three generations of labourers are trapped in Pali as per our information. The zone is a clear case of blatant violation of all the labour laws and manifests a worst form of human trafficking," says Kailash Satyarthi of Bachpan Bachao Aandolan (BBA).
Thousands of labourers operate nearly 200 crushers, producing raw material supplies for big construction projects in Delhi.
"Twelve hours is the minimum one works here for, when he/she is employed. When a machine goes down, then it may well stretch over 17 hours after it re-starts," says Harju, a worker who co-operates one of the crushers along with others.
"Besides, the work goes on all through the nights and in many cases, children and women are also employed. There is no holiday in a week" he adds.
Labour officials however deny the reports of labourers working for longer hours than what they get paid for.
Newsletter Goa: CM has tough times ahead
Rupesh Samant
Panaji, Jun 14 (PTI) It is surely not a cakewalk for the newly inducted Goa Chief Minister Digamber Kamat who has tougher issues to handle in this tiny state on the western coast.
Beginning with the controversial regional plan 2011 to the crucial issue pertaining to sale of land to foreigners, the 54-year-old politician, will have to deal with many a challenge ahead.
The biggest of these challenges would undoubtedly be to keep together his own partymen and the allies.
Goa, which saw controversial regional plan 2011, which was later scrapped now awaits another regional plan though the Congress in its election manifesto, had assured "scientific regional plan," the science graduate chief minister, now has to produce one.
Goa, with 105 km long coastline, also is grappling with the issue of foreigners buying huge chunks of land in the state.
Finding a foreigner's bungalow along the seashore is not an unusual sight for Goans, who were not happy at foreigners land purchase deals in 2006. The state government, through its reply on the floor of the house, admitted 400-odd deals, which were in violation of foreign exchange management act (FEMA).
What followed it was usual blame game with state government pointing out that it is the responsibility of Reserve Bank of India to monitor the dealings. PTI
From the States: Assam faces acute power crisis
Sukhendu Bhattacharya
Guwahati, Jun 13 (PTI) A drought like situation leading to poor hydro-power generation and a weak distribution network have led to Assam facing the worst ever power crisis prompting the government to approach neighbouring states as well as the Himalayan kingdom of Bhutan for power supply.
Already facing a shortage crisis has been compounded with a prolonged dry spell.
Chief minister Tarun Gogoi in an SOS to the centre recently requested for immediate allocation of 400 MW power from ONGC's Tripura based gas project, and also some power from the Tala and Kiruchu hydro electric projects of Bhutan to Assam.
Charging the public sector ONGC and OIL for failing to supply committed gas for power generation in Assam, Gogoi said as a result of that generation in the Namrup thermal power station (TPS) and Lakwa TPS as well as the Kthalguri TPS of North East Electric Power Corporation (NEEPCO) have suffered badly.
The chief minister has also called for adequate investment in the power distribution segment as there are large gaps in the network in major towns.
Assam power minister Pradyut Bordoloi says that the unprecented power crisis is due to over dependence on thermal projects some of them have become obsolete.
To improve the situation the Assam State Electricity Board (ASEB) has been divided into separate companies for generation, transmission and distribution, he said. PTI
Reality shows, now on the internet
New Delhi, Jun 13 (PTI) Reality shows, the latest craze on television are now reaching the cyber world.
Algeka.Com, which describes itself as part singing competition and part online video site, has come up with a singing competition where unsigned singers from around the world can upload their original music video on the website.
Fans from around the globe will cast their votes by downloading the music video of their favorite contestents.
Voting for the competition starts from June 15 and will end by August 15, 2007. The person getting the maximum votes will be the winner and will be awarded $10,000, the website says in a press release issued through AsiaNet.
This competition is a first of its kind online reality show. Algeka.Com is a paid site where $1.99 is charged for every download. However, what is unique about it is that the participants will be paid 20% of the proceeds from their downloads, the release says.
After the competition Algeka.Com will continue as an online music site. At present there are numerous online video sites. Some of them provide downloads for free, while others are paid sites. These online video sites are extremely popular with music lovers as it gives them a chance to listen and also download their favourites.
Online music videos have been there for some time now. But for the first time a website has combined internet with the concept of reality shows and has come up with an online singing competition, the release says. PTI
Housewives to college students, the stock markets are attracting all
Anurag Sharma
New Delhi, Jun 13 (PTI) After the usual gossip and discussions on jewellery and designer clothes, the talks veer around the hitherto uncharted territory of IPOs, demat accounts, BSE and NSE indices and what shares to buy.
As the stock markets boom, housewives and even some college students are taking interest in the markets and some of them are managing their port-folios well too.
"There is a feeling among youth and housewives that they too should invest. Call centre employees, who earn a good salary, easily invest upto Rs 5,000 per month in mutual funds (MFs). Housewives too invest in small if not big amounts," says Dwij Seth, Assistant Vice-President Online, India Bulls.
You can say that housewives have now sharpened their knives to cut their share from the booming stock market pie, he adds.
"You can attribute the awareness among the housewives to channels like NDTV Profit or 'Awaz' or CNBC," says Ravinder Seth, Managing Director, Elite Stock Exchange Ltd.
"If 50 per cent of the housewives watch the saans-bahu soaps on the television, there are 50 per cent watching the programme on the economy," he adds. Agreeing that there is increased interest among women in investments, he says that if three years ago, ten out of 100 queries his company was receiving on investment were from women, the number has gone up to 30 out of 100.
"Housewives have come out of kitchens and engaging themselves in various vacations like direct sales, event management. They are earning money and contributing to the household income," says Raju Vyas, Chartered Accountant. And as they start earning money, they want it to be managed in intelligent way, he says. PTI
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Sensex: 14203.72, +200.69
The sensex closed at 14203.72, up 200.69
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1 U.S. $ = 40.840 INR
1 Japanese Yen = 0.3321 INR
1 British Pound = 80.418 INR
1 Canadian $ = 38.274 INR
1 Singapore $ = 26.466 INR
1 UAE Dirham = 11.119 INR
1 Saudi Arabian Riyal = 10.890 INR
1 Euro = 54.366 INR
1 Qatar Rial = 11.221 INR
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