The Mumbai Grapevine
Connecting Mumbaikars with Mumbai
(Published by Mumbai-Central.com)
Please feel free to forward this message to your friends and co-workers
who might be interested in it. The instructions to join the Mumbai
Grapevine are at the end of the message.
No formal talks with IAEA chief on safeguards agreement
New Delhi, Oct 9 (PTI) No formal talks will take place with IAEA chief Mohammad El Baradei on India-specific safeguards agreement during his ongoing visit here but the process of informal negotiations will not be put on hold.
With Left allies keenly monitoring El Baradei's visit here, government insists that its talks with the IAEA chief will centre around general discussions on peaceful energy and safeguards already in place.
Baradei will meet Prime Minister Manmohan Singh, External Affairs Minister Pranab Mukherjee and Foreign Secretary Shivshankar Menon besides holding discussions with Department of Atomic Energy Chairman Anil Kakodkar during his four-day visit that began yesterday.
The Left parties, which extend crucial support to the government, have warned the government against holding talks with IAEA to operationalise the Indo-US civil nuclear deal.
Noting that India already has a relationship with IAEA, government sources today said there is much more to talk to El Baradei than just the safeguards agreement.
Safeguards issue will be discussed in general sense and there will be no formal talks on the agreement that India has to firm up with the global nuclear watchdog, the sources said.
They, however, made it clear that the government has no intention to put on hold the process of informal discussions with IAEA.
Depending on resolution of stand-off with Left allies, government will launch formal negotiations with IAEA, which will have to convene a meeting of Board of Governors to decide on the agreement.
The IAEA can call the meeting any time and will not have to wait for any calendar. PTI
IAEA chief non-committal on talks on safeguards agreement
Kharghar (Navi Mumbai), Oct 9 (PTI) As Left parties monitor his visit, IAEA chief Mohammed ElBaradei was today non-committal on whether the safeguards agreement will figure in his talks with government during his stay here, saying that negotiations would take place whenever India approaches us.
"IAEA is ready for talks whenever the India approaches me for the talks," Elbaradei, on a three-day visit to India, said after inaugurating the indigenously developed advanced computerised telecobalt machine `Bhabhatron-II' for treatment of cancer here.
"The Indian government will have to take a decision," he said adding, "I will wait for them to come to Vienna to make a formal request (in this regard)." Asked if he would have a fruitful discussion with the government in the light of present UPA-Left standoff over the Indo-US civil nuclear deal, ElBaradei said,"I have always had fruitful discussions with the Indian government and it will be so in the future as well." PTI
India and Singapore ink defence pact
New Delhi, Oct 9 (PTI) To bolster its Look East policy, India today inked a crucial defence pact with Singapore to provide the tiny Asian nation land, airspace and airbases for training of its armed forces personnel.
A pact to this effect was signed here by the visiting Singapore Permanent Secretary of Defence Chiang Chie Foo and the Defence Secretary Vijay Singh at the start of the 4th India-Singapore defence policy dialogue.
The Singapore army and air force personnel and fighters have been conducting joint training and exercises with Indian forces and now the two countries have decided to give a framework to this cooperation.
The new five-year defence pact will also allow Singapore's armed forces to permanently park some of its fighters and other defence assets in India. Singapore already has similar pacts with countries like Australia, US and France.
The new agreement comes close on the heels of the navies of the two countries participating in Multi Nation naval exercises in the Bay of Bengal.
Singapore Air Force has been using Indian air bases for training exercises, while its armoured formations have been undertaking maneuvers in Army firing ranges in Babina and Jhansi. PTI
Govt might not go ahead with discussions with IAEA: Left
New Delhi, Oct 9 (PTI) The Left parties today appeared to have persuaded government from going ahead with any negotiations with the IAEA on the nuclear deal for the time being during a meeting they had with UPA leaders.
"We don't think any formal negotiations will begin (with IAEA) before this Committee comes out with its findings," CPI General Secretary A B Bardhan said after an over two-hour-long meeting of the UPA-Left Committee on the Indo-US nuclear deal.
"Our talks are continuing. I don't think anything will be operationalised," the veteran communist leader said a day after Left parties made it clear to UPA Chairperson Sonia Gandhi that the government cannot initiate negotiations with the IAEA before the committee to go into their concerns on the deal came out with its findings.
However, there was no formal word from the government side on this issue, though RJD chief and Railway Minister Lalu Prasad exuded confidence and said "the government is not falling. There will be no snap poll." External Affairs Minister Pranab Mukherjee, who chaired the meeting of the 15-member Committee, said the panel would continue discussions on October 22.
"The members shared in detail their perceptions on various aspects of the cooperation agreement between India and the US. Discussions were also initiated on the implications of the nuclear agreement on foreign policy and security cooperation," he said reading out a prepared statement.
The meeting was held in the backdrop of strong and divergent views expressed by both UPA and Left parties on the issue that fuelled speculation about mid-term polls.
The outside supporters have been insisting that the government should not go ahead with formal negotiations on India-specific safeguards with the IAEA till this panel completed its work.PTI
Govt to set up two funds on microfinance
New Delhi, Oct 9 (PTI) The government today said it will set up two funds of Rs 500 crore each to facilitate easy credit availability to the poor.
"Based on the interim report (of the Financial Inclusion Committee), we have decided to set up two funds - Financial Inclusion Fund and Financial Inclusion Technology Fund of Rs 500 crore each," Finance Minister P Chidambaram said at a conference on microfinance.
The government will implement recommendations of the committee chaired by Dr C Rangarajan, Chairman of the Economic Advisory Council to the Prime Minister, when it submits the final report, he added.
A Rs 100-crore microfinance development fund has already been set up by the Centre.
The Finance Minister said there is no clarity on the government role in the microfinance sector.
"It is not yet clear what should the government do, what shouldn't the government do, what should the government regulate and what it shouldn't regulate," he said.
The government has introduced a Micro Finance Bill in Parliament to regulate non-profit microfinance institutions.
Chidambaram also said that although the goal of all microfinance institutions is the same - that to provide credit to the poor, organisations operate on different principles.
Organisations which operate for profits want interest rates to be higher so as to recover the costs, he specified. PTI
Banks credit off-take slows down, govt to scale down targets
New Delhi, Oct 9 (PTI) High interest rate and Reserve Bank's directions to banks for squeezing credit to certain sectors like real estate have forced the government to revise annual credit off-take targets.
"Government will take a realistic view on scaling down credit target of PSU banks for this fiscal if the banks feel that targets are not achievable," Financial Services secretary Vinod Rai told reporters on the sidelines of a conference here today.
The public sector banks had earlier projected a growth of 20-25 per cent in credit for 2007-08. Major state-owned banks, including SBI and Punjab National Bank (PNB), have already reported slow down in loans.
PNB has even asked the government to revise its business target downward by 7-9 per cent to 16-17 per cent in light of general slowdown in the credit off-take.
Rai said since the statements of intent were given by them (SBI and PNB) only, the government was ready to review if they believed that targets were unachievable.
Admitting slow down of credit, he said it was very much in the realm of government's anticipation.
According to RBI, non-food credit growth has declined to Rs 63,258 crore as on October 5 this year as against Rs 1,05,437 crore during a year ago.
When asked whether decline in credit flow will hurt the profitability of banks, Rai said it was too early to say.
Bankers, however, apprehended that credit growth could further slow down if RBI decides to hike their statutory deposits (credit reserve ratio) in its half-yearly review of monetary policy on October 30.
To contain inflation at around 4 per cent, they said, RBI could raise CRR limit by at least 25 basis points to manage the liquidity in the market. PTI
Oman Air sees strong growth in India
Dubai, Oct 9 (PTI) Oman Air, which is in the process of expanding its international operations, sees strong growth in its Indian sectors.
The national carrier of Oman earlier this year launched its eighth destination in India, Jaipur, and became the first foreign airline to operate flights to this tourist city.
"India is an important destination for Oman Air, and one of its most profitable sectors," a senior airline official said.
"With India's growing prominence in the world in terms of economic growth and immense potential in areas such as health, education, tourism and information technology, there is enormous scope for higher passenger traffic between Oman and India," the official added.
Mohammed bin Salim Al Bulushi, country manager of Oman Air, said: "India is one of the fastest growing travel markets in the world today. More importantly, it's an important destination witnessing a strong economic growth and attracting overwhelming numbers of tourists." On May 3, Oman Air inaugurated its flights to Lucknow. At present, Oman Air operates direct flights to destinations such as Mumbai, New Delhi, Kochi, Hyderabad, Thiruvananthapuram, Chennai, Lucknow, and Jaipur.
Oman Air recently celebrated its sixth anniversary of operations to Kochi. PTI
Hair withdraws racial discrimination claim
London, Oct 9 (PTI) Controversial umpire Darrell Hair today unconditionally withdrew his racial discrimination claim against the International Cricket Council, which had suspended him from the elite umpires panel.
"Darrell Hair withdraws unconditionally his allegation of racial discrimination against the ICC Board, members and staff," said the Australian umpire's lawyer Robert Griffiths.
It is understood that no financial pay-off was made to Hair, according to 'BBC Sport'.
Hair was demoted from the ICC's Elite panel of umpires after the first-ever forfeited Test following ball tampering allegations against Pakistan in their Test against England at the Oval last year.
He took the ICC to an employment tribunal claiming racial discrimination because no action was taken against fellow umpire Billy Doctrove of the West Indies.
The ICC Board will meet to discuss the results of his rehabilitation and decide whether he can return to elite umpiring, and if so, on what terms.
"Hair has undertaken to work with ICC management in accordance with the rehabilitation programme over the next six months," Griffith said.
ICC President Ray Mali welcomed the development, saying "we are pleased the issue has been resolved".
"We had no option but to defend these serious allegations," he added. PTI
Sania loses in first round in Moscow
New Delhi, Oct 9 (PTI) Sania Mirza crashed out of the WTA Kremlin Cup in the first round going down 6-3 6-4 to Argentine Gisela Dulko in Moscow today.
The 29th ranked Indian could not find her bearings and went out of the USD 2,340,000 Tier I tournament in an hour and 15 minutes.
Sania was coming off a quarter-final appearance at the Japan Open but could not continue her good form in the Russian capital.
Service was again the bugbear for the Hyderabad girl as she sent down as many as nine double faults.
She won only 48 per cent of points on her first serve and 26 per cent on her second while committing 40 unforced errors in comparison to her opponent's 31.
Her return game was good as she broke the 41-ranked Dulko five times but returned the favour on seven occasions.
The Argentine made a hat-trick of wins over the Indian star after getting the better of her at the 2005 French Open and the Tier III event at Pattaya City in Thailand in February this year.
Sania is also in the doubles draw where she will team up with Swiss girl Patty Schnyder to take on Vera Dushevina and Tatiana Perebiynis in the opening match. PTI
Strict security cover for SA team in Pakistan
Lahore, Oct 9 (PTI) The visiting South African cricket team has not been given clearance by the local security officials to move around markets, restaurants or shops and has virtually been under a 'house arrest' at the hotel here.
Not only has the local police and rangers made tight security arrangements for the visiting players, but the South African team has also brought three of its own security officers who work round the clock to liaise with their local counterparts.
Besides Faisal Nagel, who heads the security team, the South African board has also sent two more personnel -- Stefan Botha and Zunaid Wadee -- from Nicholls-Steyn security consultants.
The three are seen around the South African players whether they are having nets, attending press conferences or moving around in the hotel.
It has now become a common sight to see Faisal take up a position near the South African players when they come for the press conferences.
A local security official said because of the security situation in the country, the extra measures had been taken for the South Africans on the advise of the Interior Ministry.
"We have been told to take no risks at all and leave nothing to chance," he said.
South African skipper Graeme Smith admitted that security issues were now a reality of international sports.
However on Sunday, the South Africans were allowed themselves a treat when they were given clearance to visit the Lahore International Club to watch the Springboks' Rugby World Cup quarter-finals against Fiji on television. And the visiting players are now also planning a 'get together' to watch the semi-finals against Argentina next Sunday. PTI
11 more top international players join IPL
New Delhi, Oct 9 (PTI) The Indian Premier League (IPL), the BCCI's ambitious cash-rich venture, today announced the signing of eleven more international cricketers to play in the inaugural Twenty20 championship in April next year.
Building on its repertoire of hiring some of the best international cricketing talent to play in the IPL, the League has signed up the likes of current South African Captain Graeme Smith and New Zealand skipper Daniel Vettori.
South African opening batsman Herschelle Gibbs, Pakistani middle order batsman Mohammed Yousuf, West Indian batsman Shivnarine Chanderpaul and Sri Lankan paceman Chaminda Vaas were among those who joined the high-profile league, seen as a counter to Subhash Chandra-owned Essel Group's Indian Cricket League (ICL).
Former Australian opener Justin Langer, AB de Villiers, Ashwell Prince and Albie Morkel of South Africa and Scott Styris from New Zealand have also inked the IPL contracts for the inaugural season.
The signing of these eleven key players takes the total signing of international cricketers to play in the inaugural season to 22.
Earlier the IPL had already announced the participation of Shane Warne and Glenn McGrath of Australia, former Kiwi captain Stephen Fleming and eight Sri Lankan players from the current team, including their skipper Mahela Jayawardene and opener Sanath Jayasuriya.PTI
Pak govt not to arrest Bhutto; HC says no to pre-emptive bail
Rezaul H Laskar, PTI's Staff Correspondent Islamabad, Oct 9 (PTI) Pakistan government has no intention to arrest Benazir Bhutto on graft charges when she returns home from her self-imposed exile later this month, a senior official told the Sindh High Court which dismissed the former Premier's request to grant her pre-emptive bail.
The Interior Ministry here also said that Bhutto, the chief of Pakistan People's Party (PPP) who has vowed to return home on October 18, would be provided with "full security".
During the hearing of petitions seeking pre-emptive bail for Bhutto, the Deputy Prosecutor General of the National Accountability Burea (NAB) told the Sindh High Court in Karachi the government had no intention to arrest her in three corruption cases, which had lapsed with the promulgation of the National Reconciliation Ordinance by President Pervez Musharraf.
The court later dismissed the bail petitions, which were filed by Bhutto's lawyer and PPP Senator Farooq Naik to ensure that she is not arrested when she returns to the country from self-imposed exile on October 18.
In Islamabad, the Interior Ministry said it would provide security to Bhutto on her return. "When she comes to Pakistan, we will provide full security to her," ministry spokesman Javed Iqbal Cheema told reporters.
The PPP has been seeking special security arrangements for Bhutto, especially in the wake of threats by tribal militant leader Beitullah Mehsud that his suicide bombers were waiting to "receive" the former Prime Minister on her return to the country. PTI
Pak CJ expands bench hearing petitions against Musharraf
Rezaul H Laskar, PTI's Staff Correspondent Islamabad, Oct 9 (PTI) Pakistan's Chief Justice Iftikhar M Chaudhry today expanded the bench hearing petitions against Pervez Musharraf's candidature in the October six Presidential poll, which the General swept, by adding one more judge to it.
Justice Javed Buttar is the new addition to the 10-member bench hearing the petitions filed by Wajihuddin Ahmed, a former apex court judge, and PPP leader Makhdoom Amin Fahim against Musharraf's eligibility to contest the election without quitting the post of Army Chief.
The Chief Justice also reshuffled the bench by replacing Justice Nasirul Mulk, who will be away from Pakistan during the time when the case will be heard, with Justice Chaudhry Ijaz Ahmed.
The bench will continue to be headed by Justice Javed Iqbal.
Musharraf swept the presidential poll on October six that was boycotted by the opposition but the Supreme Court has ruled that the result of the election cannot be officially notified till it decides on petitions opposing his candidature. The apex court will resume hearing the petitions from October 17.
The military ruler, who has promised to take off his uniform by November 15, has been engaged in a confrontation with the judiciary since he suspended the Chief Justice - who was later reinstated - in March. Musharraf's move sparked widespread protests across the country. PTI
Nepal:Maoists launch "donation drive" ahead of Hindu festival
Kathmandu, Oct 9 (PTI) Notorious for their extortion activities, Maoists in Nepal are now asking for "donations" on the pretext of "waging yet another people's movement".
The former rebels have written to various government offices, village development committees (VDC), educational institutions and vehicle owners demanding "donations", according to the police.
They have also fixed the amount in the letters. A high school teacher has been asked to pay the sum equal to their one month's salary while the VDCs was asked to pay Rs 15,000 each.
"We received regular assistance during the peoples war's period and expect similar assistance now also," says a letter purportedly written by Maoists.
The drive has especially gained momentum ahead of the Hindu festival of Vijaya Dashami.
They were collecting funds on the pretext of "waging yet another people's movement to ensure Constituent Assembly election", which was postponed due to the Maoists' pre-conditions, police said.
The Maoists cadres in groups of three or four have also started collecting money from people along the sub-highways in different parts of the country, eye-witnesses claimed.
The "donation drive" comes at a time when the Government has released an allowance of Rs. 1,000 per person for Maoist combatants confined to the cantonments as per the peace agreement which ended the decade long insurgency. PTI
Delhi catches up to new rock bands
Amit Kumar Das
New Delhi, Oct 9 (PTI) With the surfacing of a new breed of rock music bands, the capital, that has always been considered by afficandoes as trailing behind cities like say Bangalore and Mumbai with respect to acceptance and popularity of the genre, is now witnessing a sweeping wind of change.
"Delhi is now the best place for rock music. Even two years back there was not such an audience who was receptive to rock music but now it has accepted different genres of music," says Dhaval Mudgal, member of the band 'Half Step Down' that was launched in 2005.
"There are more active gigs in Delhi which pays as high as 20,000 per show and with about 15-20 live shows a month it is really turning out to be a good time for the bands," he says.
Arjun Kaul of 'Prithivi', which has been composing music for the last three years says, "The audience for rock music is growing in Delhi. The quality of production, infrastructure and resources has ensured better events to be organised and better performance, so I feel the music scene is fast changing in Delhi." The success of like 'Half Step Down,' 'Level 9,' 'Advatia' etc has given inspiration to a new breed of bands to join the bandwagon. 'Stitch,' 'Prithivi,' 'Rampage,' 'Frequency,' 'Inferno' are grabbing the spotlight with their unique renditions.
Kshtij Rawal who heads the eight-month-old band 'Stitch' says, "In these last few months we have performed at a lot of places in Delhi. Then we got selected for the Rockilution competition that held here recently and we performed at the zonal level." PTI
Newsletter: Daunting task awaits LDF
N Muraleedharan
Thiruvananthapuram, Oct 9 (PTI) As the country is faced with the prospects of snap polls, the question staring Kerala's ruling CPI (M) led LDF is whether the coalition would be able to repeat its record 2004 showing snatching 18 of the 20 Lok Sabha seats as the performance of the V S Achuthanandan Government in the last 15 months has left much to be desired.
Bedevilled by the infighting in the state CPI (M) right from the start, the Government has, of late, been under attack from its traditional rival Congress-led UDF over a host of issues like the controversial land deal for locating the ISRO's Space Insitute at ecologically fragile Ponmudi near the state capital.
The anti-climactic turn in the much-hyped drive against the land encroachment at Munnar and dissensions among the coalition partners have dimmed the Government's image at a politically crucial time.
If it fails to come near its 2004 tally in the Lok Sabha, LDF's political credibility would be dented severely in a stat known for alternating between the coalitions led by CPI (M) and Congress in every five years.
According to political analysts here, it would be a truly daunting task for LDF to come anywhere near its 2004 score as a combination of factors including the widespread revulsion at the ugly factionalism in the Congress state unit had helped the CPI-M and its ally to garner 18 Lok Sabha seats then.PTI
Newsletter: Allies Cong, JMM pull up Jharkhand government
P V Ramanujam
Ranchi, Oct 8 (PTI) The Congress and the Jharkhand Mukti Morcha (JMM) have virtually put Chief Minister Madhu Koda on notice to 'act' immediately on checking alleged rampant corruption. The parties also want the CM to accelerate implementations of centrally-sponsored schemes.
In the sharpest warning to the Koda government as yet, the Congress' newly appointed Jharkhand affairs in-charge Ajay Maken, a Union Minister too, said on October one it was for the state to decide whether it required continued outside support of the party in future.
"The people of Jharkhand know that the congress supports the Madhu Koda government from outside. So we have the responsibility to fulfil their aspirations otherwise they will not forgive us," Maken said.
Maken's statement bore enough testimony that the Congress would not take any blame vis-a-vis 'non-performance' or 'corruption' for which the government has been criticised by several leaders, including some ruling MLAs like Niel Tirkey and MPs like Furkan Ansari. The Koda government survives on the support of 42 MLAs in the 81-member assembly.
An independent MLA, Koda completed one year in office on September 18. A day later, JMM supremo Sibu Soren, supporting the UPA from within, had sounded warning bells saying that his party men should be ready for mid-term polls.
"Now I am keeping a close watch on the functioning of the government which has been afflicted by various diseases, and election is the only treatment if the diseases remained incurable," Soren said. PTI
From America with Lav(ni)!
Vijay Satokar
New Delhi, Oct 7 (PTI) The U.S. 'Stars and Stripes' slowly comes into focus as the stage gets lit by a focus lights. "This is America where there is a person by the name Gates and he makes Windows", says a shabbily dressed man in a dhoti and an oversized coat to another equally ill-dressed visitor.
As the two withdraw after discussing Bush and things back home in India a group of women in the nine-yard sarees with dazzling borders, a typical Marathi costume with huge round 'bindis' on their foreheads enter the stage, saluting the audience as they break into a rythmatic dance to the accompaniment of music.
The lead dancer is a practising gynaecologist from Philadesphia and the dance form- 'Lavni'-, the more than century old folk dance of Maharashtra that is struggling to survive in the age of rock and pop.
"I am on a mission to revive Lavni, the now moribund the 18th century dance form from Maharashtra that has fallen into bad days and considered cheap and many times vulgar form of entertainment", says Dr.Nerurkar, who recently presented a performance in the capital's prestigious Kamani auditorium.
The word 'Lavni' comes from the Sanskrit original 'Lavanya' meaning beauty and there was nothing vulgar in the original dance, she says.
It was devised to entertain tired soldiers of the marching Maratha armies on their missions in North India and the dance hence had great influence of Kathak, she says. PTI
Emergency pill? Keep for emergency only: Doctors
Snehesh Alex Philip
New Delhi, Oct 7 (PTI) With the market flooded by advertisements of 'emergency' pills to prevent unwanted pregnancies, doctors caution against their overuse stressing that these cannot be a replacement for the regular contraceptive methods.
"There is no denying that emergency contraceptive pills are an ideal way to stop unwanted pregnancy but what should be kept in mind is that these pills have a very high dosage and hence, one should not consider it as any other contraceptive pill which can be popped daily," says Dr Sudha Salhan, Head of Department, Gynecology, Safdurjang Hospital.
Emergency pill manufacturers also support the doctor cautionary note.
"Emergency pills are not a replacement for normal contraceptive pills. It is indicated when there is unprotected sexual intercourse or failure of regular contraception or the woman forgets to take her regular pill for a few days. Normal OC pills are the most effective form of contraception," says Dr. Jaideep Gogtay M.D. Medical Services Cipla. Cipla has recently come out with a emergency contraceptive pill called i pill.
Research shows that seventy-eight percent of the pregnancies in India are unplanned and at least twenty- five percent are unwanted. This leads to abortions, numbering to approximately 11 million a year, half of which are unsafe and are associated with high morbidity and mortality.
Unprotected sexual intercourse and contraceptive failure are the key causes leading to unintended pregnancies. Lack of awareness further augments this problem. PTI
___________________________________________________________
This is the Mumbai Grapevine
___________________________________________________________
______Market_______
To get regularly updated NIFTY (NSE) quotes by email, join the NSEData
mailing list by sending an email to NSEData-subscribe@yahoogroups.com
To get regularly updated BSE quotes by email, join the BSEData mailing
list by sending an email to BSEData-subscribe@yahoogroups.com
Sensex: 18280.24, +788.85
The sensex closed at 18280.24, up 788.85
___________________________________________________________
This is the Mumbai Grapevine
___________________________________________________________
______Forex_______
1 U.S. $ = 39.250 INR
1 Japanese Yen = 0.3349 INR
1 British Pound = 79.615 INR
1 Canadian $ = 39.701 INR
1 Singapore $ = 26.644 INR
1 UAE Dirham = 10.687 INR
1 Saudi Arabian Riyal = 10.493 INR
1 Euro = 55.070 INR
1 Qatar Rial = 10.785 INR
___________________________________________________________
This is the Mumbai Grapevine
___________________________________________________________