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Left MPs to march to Parliament tomorrow on Price rise
Kolkata, Apr 14 (PTI) Left MPs will march to Parliament tomorrow in protest against rising prices with the CPI-M warning that soaring inflation is like a "large albatross" on the UPA government's neck that will spell trouble for the coalition during the ensuing elections.
"Price rise is the most crucial issue and it will be like a large albatross sitting on the UPA government's neck in the coming election and as a supporting party we are telling them that they will be in trouble," CPI-M politburo member Sitaram Yechury said in a programme on 'inflation and its impact on the economy' here.
"Let the police arrest us during the march," he said, adding the march to Parliament was not the normal way for MPs to agitate but "we have no other option." "It(the march) is a part of the nationwide agitation to pressure the UPA government to take effective measures to bring down prices of essential commodities and contain inflation," he said.
Yechury said the Left parties and the constituents of UNPA would hold agitation throughout the country from April 16 to 23 on the price rise issue.
The entire trajectory of the eight per cent plus economic growth would collapse unless the UPA government reined in inflation and controlled prices which made the life of common people miserable, Yechury said.
Asked what was stopping the Left parties from withdrawing support from the UPA government on this issue, Yechry replied, "If we pull down the UPA government on the price rise issue and if the BJP comes, they will follow the same policy. On the question of economic issue, Congress and BJP are almost the same." He demanded that the centre immediately ban forward trading on commodities and strengthen the PDS besides restructuring taxes on petroleum. PTI
UPA govt has failed to check inflation: Advani
Indore, Apr 14 (PTI) Leader of Opposition L K Advani today flaying the Congress-led UPA government for its failure to check the rising inflation, said the opposition would corner the government on the issue in the next Parliament session.
"The government has failed to check the rising inflation in the country causing lot of problems to the common man. The prices of essential commodities are increasing continuously," Advani told reporters here after arriving to take part in a function at Mhow town, the birth place of Dr B R Ambedkar.
"The government had promised to check the inflation during the budget session, but it failed to do so at the ground level. The Opposition will corner the government on the issue during the next session of Parliament", the BJP leader said.
Advani praised the efforts of the BJP government in the state in completing the Ambedkar Memorial project pending for a long time. PTI
Price rise to dominate second phase of Budget session
New Delhi, Apr 14 (PTI) With price rise turning into a volatile affair, government is expected to come under attack from friends and foes alike in the Budget session of Parliament resuming tomorrow.
The Left parties, supporting the UPA from outside, have already decided to corner the Congress-led coalition on the issue of inflation at a time when opposition parties including BJP and SP have stepped up their attack.
Samajwadi Party has plans to bring an adjournment motion on spiralling prices of essential commodities on the first day itself in the Lok Sabha.
Senior party leader Mohan Singh said his party would be aggressive on the issue in Parliament from day one with inflation reaching a 41-month high.
Similar appears to be the strategy of main opposition BJP which wants to exploit the opportunity to the hilt with assembly elections in Karnataka scheduled next month.
The saffron party has also threatened to bring an adjournment motion. Deputy Leader of the BJP in Lok Sabha V K Malhotra said if the government did not relent on a special discussion on the issue, it would stall the proceedings.
Before the start of the two Houses, Left parties will stage a demonstration in Parliament House complex to protest against government's "failure" to check the price line.
The situation arising out of the Supreme Court judgement on the OBC quota issue is another issue expected to be discussed and debated extensively in the month-long session, which will conclude on May nine. PTI
Mumbai franchisee hoping for solution to IPL-media row
Mumbai, Apr 14 (PTI) Expressing concern over row over the stiff conditions for media accreditation for coverage of the Indian Premier League matches, the Mumbai Indians team officials today expressed optimism that a solution would be found.
"It's not a matter for us to say anything on it. It does cause some concern, but there have been some minor roadblocks which had been handled well by the IPL authorities and we are confident that they will handle this too," said R Balachandran, director of the team promoters Indiawin Sports, at a media conference here today.
Some of the guidelines that the media organisations had to agree to while applying for accreditation to cover the event have been termed unacceptable by the media.
The IPL authorities, headed by its chairman and commissioner Lalit Modi, have held discussions with the media representatives to resolve the dispute amicably, but a mutually agreeable solution has remained elusive. PTI
Sehwag, Bhajji top batting, bowling charts against SAfrica
New Delhi, Apr 14 (PTI) Virender Sehwag's 372 runs -- 319 of which came in the drawn Chennai Test -- made him the highest run-getter of the three-match series against South Africa, while Man of the Series off-spinner Harbhajan Singh signed off as the numero uno bowler with 19 scalps.
Just as the series, the honours were also even in the individual performance list with the South Africans making their presence felt.
The Proteas in fact dominate both the top 10 bowling and batting lists. The batting chart has seven South Africans in the top 10 starting with Neil McKenzie, who is second with 341 runs with a highest of 155 that he scored in the first Test in Chennai.
Hashim Amla, A B de Villiers and skipper Graeme Smith complete the top five before Sourav Ganguly and Rahul Dravid come in the latter half of the list for India.
The bowling list is no different and it's South Africa all the way after Harbhajan at the top. Pacer Dale Steyn, Makhaya Ntini, Morne Morkel and Paul Harris occupy the next four slots behind Harbhajan.
Instead of a frontline bowler, India's next best in the list is part-time spinner Virender Sehwag, who scalped six wickets in the series. PTI
Fit-again Asif selected for Bangladesh one-dayers
Karachi, Apr 14 (PTI) Pakistan's pace spearhead Mohammad Asif was today drafted into the national squad for the fourth ODI against Bangladesh after spending six months on the sidelines due to a chronic elbow problem.
The national selection committee included him in a 16-member squad announced for the one-dayer to be played on Wednesday in Multan.
"Asif has made an impressive recovery from his elbow problem and he has worked very hard and followed his rehabilitation program religiously. We thought this is the best time to ease him back into international cricket," chief selector Salahuddin Ahmed said.
The selectors have also included young pacers Kamran Hussain and Wahab Riaz in the squad.
Pakistan blooded several new players in the home one-day series against Zimbabwe earlier this year and in the ongoing rubber against Bangladesh.
Their top pacers, Shoaib Akhtar, Asif, Umar Gul and Rao Iftikhar have all been injury-prone.
Asif last played in the Test series against South Africa in October at home before being ruled out with an elbow problem. PTI
Jeev rises to 80th, Randhawa 74th in golf ranking
New Delhi, Apr 14 (PTI) Jeev Milkha Singh's tied 25th finish in the Masters helped him climb three places to 80th even though Jyoti Randhawa continued to be India's highest ranked golfer at 74th.
Placed 83rd in last week's Official World Golf Rankings, Jeev, who notched up his best finish in a Major at the Augusta Masters yesterday, rose to 80 in the latest chart, which also has Randhawa at 74, one place up from his previous 75th position.
Among other Indians, Indian Masters winner S S P Chowrasia is ranked 154th and the only other Indian in the top 200 list is Orlando-based Arjun Atwal, who is at 198.
Trevor Immelman, who became only the second South African Masters Champion, climbed 14 places to be world number 15. PTI
Realty stocks to face more challenging times ahead: Citigroup
New Delhi, Apr 14 (PTI) Global economic uncertainties have cast a shadow on India's realty market as property stocks declined by upto 46 per cent in the first quarter of this year, and more challenging times are on the cards, says global financial services major Citigroup.
"Indian property stocks are down as much as 46 per cent in the past three months and have corrected 50-67 per cent from their highs in January this year, but we expect more volatility," Citigroup Global Markets said in its latest report.
India's property development story is structural, the markets remain tough because of rising inflation, a sharp fall in property transactions, stagnating prices and supply risks, the report added.
On December 31, 2007, the realty index of the Bombay Stock Exchange was quoted at 12,727.42 points and it tumbled to 7,554.80 points, a fall of 5,172.62 points or 40.6 per cent, as on March 31, 2008.
K P Singh-promoted DLF has suffered loss of Rs 427.30 in the January to March period, while Unitech lost Rs 212.10 during the period under review.
The other real estate biggies such as Indiabulls Real Estate fell by Rs 258.65, Housing Development and Finance Corporation shed Rs 488.70, Parsvnath Developers lost Rs 241.35 and Omaxe by Rs 365.55 in the first quarter of this calender year.
Citigroup said this decline can be largely attributed to the weakening global economy, sharp reduction in risk appetite and the uncertainty about appropriate valuations for property stocks in emerging markets including India. PTI
Singapore hot investment destination for India Inc
Mumbai, Apr 14 (PTI) Singapore has emerged as the top destination for overseas investment by Indian companies, with more than USD 10 billion parked there in April-December 2007- 08, up 13 per cent from year-ago levels, says a RBI report.
"Direction of investment indicates that 37 per cent of the approvals for outward FDI (of USD 5 million and above) were towards Singapore, followed by the Netherlands (26 per cent) and British Virgin Islands (8 per cent)," the report said.
According to the RBI report, India's overseas investment, which began initially with the acquisition of foreign companies in the information technology and related services sector, "has of late, spread to wider areas like manufacturing, financial and non-financial services." The rise in both the numbers and the amount of approved proposals, the RBI said, "Is reflective of large overseas acquisition deals by Indian corporate facilitated by progressive liberalisation of the external sector policies." The RBI report further said equity investment accounted for almost 90 per cent of the total outward investments, followed by loans and guarantees.
The outward FDI flow, which was USD 1.8 billion in 2004-05, increased to USD 4.9 billion the next year and more than doubled to USD 12.8 billion in 2006-07.
The trend has continued in 2007-08, with outward FDI increasing to more than USD 10 billion during (April-December 2007) compared to about USD 9 billion in the corresponding period in the previous year. PTI
India to meet Pak on Apr 25 on IPI gas pipeline: Deora
New Delhi, Apr 14 (PTI) India today said it will meet Pakistan next week to resolve issues, such as transit fee, impeding progress on the over 7 billion dollar Iran-Pakistan- India gas pipeline project, even as it gets formally inducted in a rival line from Turkmenistan.
Petroleum Minister Murli Deora and his Secretary M S Srinivasan will be in Islamabad on April 23 and 24 for the Steering Committee meeting of the Turkmenistan-Afghanistan- Pakistan gas pipeline called by project sponsor Asian Development Bank for formal induction of New Delhi in the project and signing of heads of agreements.
On April 25, talks with Pakistan on the Iran-Pakistan- India gas pipeline would be held, Deora told reporters on the sidelines of the 5th Asia Gas Partnership Summit here.
Officials said New Delhi has not been attending talks on IPI project since mid-2007 as it first wanted to resolve the issue of transit fee payable to Islamabad for wheeling the gas through that country.
New Delhi and Islamabad have reached broad understanding on the transportation tariff payable to Pakistan for wheeling the gas through the pipeline passing through that country. But the two nations have not yet agreed on payment of a separate transit fee to Pakistan for allowing passage of the fuel.
Islamabad is seeking 0.493 dollars per million British thermal unit (mBtu) as transit fee, while New Delhi has offered 0.15 dollars per mBtu (60 million dollars a year) for providing security and right of way to the pipeline, officials said.
Earlier, India and Pakistan narrowed down differences on transportation tariff. Islamabad previously wanted 0.7 dollars per mBtu as wheeling charges, but New Delhi was willing to pay no more than 0.55 dollars per mBtu (220 million dollars annually). PTI
US financial crisis not to derail India growth story: Soros
New York, Apr 14 (PTI) Showering praise on Prime Minister Manmohan Singh-led reform process and Ambani brothers for their contributions to Indian economy, legendary investor George Soros has said that the US financial crisis would not have much impact on the country's growth story.
While dubbing the ongoing global financial crisis as the biggest since the Great Depression of 1930s, George Soros has noted that the dynamic developments being witnessed by economies like India might still not be disrupted.
The billionaire investor has made these observations in his latest book, 'The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means', whose electronic version is currently being sold over Internet and a print edition would be launched on May 19.
Noting there are no grounds for predicting a prolonged period of credit contraction or economic decline in the world, Soros has said there are countervailing forces at work.
"China, India and some oil-producing countries are experiencing dynamic developments which may not be significantly disrupted by the financial crisis and a recession in the United States," he says.
Soros also has words of praise for Prime Minister Manmohan Singh. "The groundwork for economic reforms was laid by the present Prime Minister Manmohan Singh, when he was Finance Minister more than a decade ago, and it took some time for the dynamics of the economy to change," he says.
Recalling his visit to India in late 2006, the renowned investor says that the country's economic growth rate has more than doubled since then. Putting India on a higher trajectory than China in terms of an investment destination, Soros says the rise of Ambani brothers is emerging as the most spectacular one. PTI
Pak taking "bilateral approach" on Kashmir: Musharraf
Raghavendra
Beijing, Apr 14 (PTI) President Pervez Musharraf today said Pakistan was taking "bilateral approach" with India over the Kashmir issue and hoped that "good sense" will prevail on both sides to resolve the "festering" dispute amicably.
Describing Kashmir and Palestinian issues as "old disputes", Musharraf told teachers and students at the elite Tsinghua University here that as far as Pakistan was concerned, "we are going on a bilateral approach with India".
"We hope that good sense prevails on both sides to resolve this long standing dispute amicably between our two countries for the benefit of people of these two countries," the President, who is on a six-day visit to China, said.
Pakistan has traditionally been insisting on third party mediation on the Kashmir issue, a demand outrightly rejected by India which wants it to be dealt bilaterally.
But Asif Ali Zardari, chairman of Pakistan People's Party that leads the ruling coalition had said recently that the ties between the two countries should not be held hostage to the Kashmir issue which should be left for future generations to resolve.
Pakistan's new Foreign Minister Foreign Minister Shah Mehmood Qureshi had also said his government will not shy away from taking a "different" approach on the Kashmir issue and stressed on promoting bilateral trade.
Musharraf made reference to Kashmir twice in his speech while reviewing the international scene in the last 60 years, noting that the world was now moving towards multi-polarity.
"The old disputes have festered. I call old disputes.. the Palestinian dispute.. The Kashmir dispute," he said as he spoke of the September 11 terror attacks in the US that he said had "completely changed" the world and brought in "new dynamics". PTI
Pak to accord security to Oly torch equivalent to that of Prez
Islamabad, Apr 14 (PTI) The Olympic torch relay will be provided the same level of security as accorded to Pakistan's President when the flame is carried through the country's capital for the first time on Wednesday.
Islamabad is one of 22 venues around the world that have been selected for the Beijing 2008 Olympics torch relay, said Pakistan Olympics Association chairman Lt Gen (retd) Syed Arif Hasan. Some 80 personalities will carry the flame through the federal capital.
All arrangements, including a strict security plan, have been finalised to welcome the Olympic flame in Pakistan, officials said.
"All security arrangements for the torch relay participants will be that of the head of the state," Sports Minister Khwaja Asif said in a statement.
Asif said the selection of Islamabad as one of the cities through which the flame will pass reflects the "close and time tested friendship" between Pakistan and China.
The Olympic torch will arrive in Islamabad early on April 16 from Muscat, and it will be taken to New Delhi later the same day. Chinese and Pakistani volunteers have visited schools here and briefed students about the Olympic torch relay in Pakistan.
With the relay already having been disrupted in London and Paris by protesters opposing the recent crackdown in Tibet, Pakistan, a close ally of China, is determined to ensure that there are no snags when the flame passes through its territory. PTI
No more concessions on Tibet, Dalai Lama threatens to resign
Silicon Valley, Apr 14 (PTI) The Dalai Lama has ruled out any more "concessions" to China on Tibet and threatened to resign as leader of Tibet's exiled government if violence in his Himalayan homeland went "out of control." "If violence becomes out of control then my only option is to resign," the exiled Tibetan spiritual leader told reporters on the sidelines of a five-day conference on compassion in Seattle.
"If the majority of people commit violence, then I resign," the 72-year-old Nobel Peace Prize laureate said on his first visit to the United States since the recent Chinese crackdown on dissent in Tibet.
The Dalai Lama said he was fully committed to his "middle way" approach to Tibet's relationship with China. "I am fully committed to middle approach; further more concessions, I don't know," he said.
"Our struggle is with a few in the leadership of the People's Republic of China and not with the Chinese people," the Dalai Lama said in a statement.
However, he expressed fears that suppression in Tibet may increase if the present situation continues.
"I am very much concerned that the Chinese government will unleash more force and increase the suppression of Tibetan people," he said.
The Dalai Lama also said his representatives were holding "private talks" with Beijing following the eruption of protests in Tibet last month against the Chinese rule.
Describing the talks as "some efforts" through "private channels", the Dalai Lama said, the talks were "still in full mystery. I don't want any speculation", the Seattle Times reported.
However, he said he himself had no direct contact. PTI
Mumbai Indians rope in Hrithik Roshan as brand ambassador
Mumbai, Apr 14 (PTI) The Sachin Tendulkar-led Mumbai Indians have roped in Bollywood star Hrithik Roshan as their brand ambassador to drum up support for the team in the Indian Premier League starting on April 18.
"Hrithik symbolises the spirit of the team," said R Balachandran, director of the newly formed Indiawin Sports -- a subsidiary of Reliance Industries which owns the franchise outfit, at a media conference to outline the team's marketing campaign today.
The actor is figuring in a promotional video campaign to muster support for the team through a Hindi song "Duniya Hila Denge Hum (Let's rock the world)".
The franchisee also announced the ticket prices for the first two matches that the team plays at the Wankhede Stadium here and D Y Patil Stadium in Nerul, Navi Mumbai, on April 20 and 27 respectively.
"The ticket price ranges from Rs 250-500 to the upper end Rs 3000-5000 for the first match while for the second match it ranges from Rs 200-400 to Rs 1000," he added. PTI
I would love to make a film on Indo-Pak history: Mansoor
Bedika
New Delhi, Apr 13 (PTI) The historic release of Pakistani film 'Khuda Ke Liye' in India has opened a way to bridge the cultural gap across the border, its director Shoaib Mansoor says and hopes to make a movie focusing on the combined history of the two countries.
"I would love to make a film on the history of the two countries," says Mansoor, who is in India to promote his debut feature, the first Pakistani film to hit the theatres here in 40 years.
Mansoor's film became a huge sensation immediately after releasing in Pakistan setting several box office records, besides creating ripples worldwide with its sensitive portrayal of Muslims caught between fundamentalism and the hostility of post-9/11 era.
Mansoor is a celebrated name in the Pakistani entertainment industry for last 30 years. He said 'Khuda Ke Liye' is the culmination of his anger with the way his religion has been misinterpreted by Islamic fundamentalists and by the world outside.
"I have entered in filmmaking very late and I want to do so much, I do not know how much I will be able to do, but I will never do a formula film," Mansoor told PTI.
He hopes that 'Khuda Ke Liye' will remove the general "misconception" among Indians concerning Pakistan and its people and such exchanges will create a positive atmosphere in both the countries. PTI
Ram Sampat schemed to make money out of me: Rakesh Roshan
Mumbai, Apr 11 (PTI) With 'Krazzy4' finally hitting the screens today, the film's producer Rakesh Roshan has hit out at music composer Ram Sampat who had slapped a copyright infringement case against him and later withdrew for an out-of-court settlement and alleged the latter had schemed to make money out of him.
In a statement issued here today, Roshan said it is interesting to note that 'Krazzy 4' music was launched in February 2008 and the promos containing the alleged infringed work was released on TV on all channels in the end of February 2008.
"All these days, Ram Sampat chose to wait and instituted the suit in the High Court just a few days before the release of the film. This was a well-planned scheme of making money. Having all the proof in my hand to defend, I was helpless for want of time", Roshan charged.
The filmmaker said he was required to be in the court when the prints of the film had already been delivered all over the world.
"Finding myself caught in a helpless situation and to keep up my commitment with distributors and to respect feelings of the audience, I had no way but to succumb to the pressure and to compromise on the matter, thereby seeing that the film is released on the announced date.
"To honor all these commitments, moral and professional, I paid the price to Ram Sampat who strangulated me just days before the release," he alleged. PTI
SC allows Sanjay Dutt to go abroad for film shootings
New Delhi, Apr 10 (PTI) Bollywood actor Sanjay Dutt, granted bail in the 1993 Mumbai serial blasts case, was today allowed by the Supreme Court to go abroad for film shootings.
A Bench headed by Chief Justice K G Balakrishnan directed him to return by September 30 and submit his passport with a court.
The Bench also directed him to file an affidavit stating that he would return to the country after completing his work.
Dutt had approached the apex court on March 13, seeking permission to visit Malaysia, Thailand and the United States.
While granting regular bail to the actor on November 27 last year, the court had directed him to surrender his passport and asked him not to leave the country without its permission.
Dutt was convicted under the Arms Act for possessing illegal weapons in connection with 1993 Mumbai blasts case. He was, however, absolved of the serious offence under the TADA.
The CBI had not opposed his bail maintaining that he was entitled for the relief since he was guilty of a less serious offence.
The Bollywood star, who was sentenced in July last year, had spent 18 months in jail. PTI
Here even the Speed Post takes months
Leh, April 14 (PTI) Two months after getting his bundles of clothes worth some five lakh rupees booked at Grand Post Office, New Delhi, to be sent to Leh through 'Speed Post' Namgyal, a petty cloth merchant from Ladakh, is still waiting for his parcels to be delivered.
After purchasing his clothing stock for the coming summer season, he booked it at Speed Post at GPO New Delhi in the month of February but there is no sign of the parcel. "I purchased the stock looking at the demands from different schools for uniform;there is now risk of losing the business," he says.
Namgyal's is not an isolated case.
Another retailer Togo has some 80 parcels undelivered even after months of getting booked for Speed Post service of the Indian Postal Service. There are many other such complaints from the small business community of the Ladakh region.
According to Sonam Jorgais, President, Merchant Association, Leh, such postal packages belonging to petty businessmen from both Leh and Kargil districts that remain undelivered for months run in thousands. The issue has been taken up with the J&K Government.
Jorgais says, the parcels through different postal services including speed post are normally dumped at Chandigarh to be airlifted in chartered flights to Leh. When things go smooth we receive our parcel in three to four days, he says adding that such 'prompt' deliveries, however, are rare.
The Ministry of Communication of the state government recently shot off a letter saying the undelivered parcels belonging to traders from Ladakh should be airlifted without further delay. PTI
Book:They fought gender discrimination, are top leaders today
New Delhi, Apr 13 (PTI) Besides being top women corporate leaders, what do Kiran Mazumdar Shaw, Kalpana Morparia and Naina Lal Kidwai have in common? All of them faced gender discrimination in the beginning of their careers but undettered, did not give up. While Shaw, now CMD of Biocon, would have ended up being a brewer, Morparia would be working as a solicitor, says a new book 'Karmic Divas' by Prerna Kaul Mishra.
Even though she was armed with an Australian degree known as best in brewing, various liquor firms in the country in late 70's "developed cold feet when it came to trusting her with a brewer" which finally paved the way for setting up of Biocon.
Another example is Morparia, Vice-Chair for ICICI's Insurance, Security and Asset Management Business, who would "have meandered into becoming a solicitor," had it not being for a failed interview with Hindustan Lever.
Along with both of them, Kidwai, CEO, HSBC India thanks her stars and also her being discriminated for her gender.
"Had I accepted the diktat, I would have ended up with some middle-sized accountant," says Kidwai on her being rejected for accountant's post which involved lot of travelling and hence was 'unsuitable for women' in the book.
The book which encapsulates the success stories of eight Indian businesswomen quotes Shaw as saying, "Very soon I realised I was in the wrong country with the right credentials. The attitude of most brewing companies in India was condescending towards women," she says for being given numerous 'nonsense' reasons for not recruiting her.
"While companies were happy to have her as consultant, they developed cold feet when it came to trusting her with brewery. Kiran was told that she was a woman and heading a brewer meant handling labour, being on call any time of day or night and much more," the author writes.
(About the Book: Karmic Divas written by Prerna Kaul Mishra and published by Vitasta Publishing. Pages 241.). PTI
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