Thursday, January 15, 2009

Pakistan team to probe attacks

Pakistan said on Thursday it has detained or kept under surveillance over 100 people linked to the Lashkar-e-Taiba/Jamat-ud-Dawah in connection with the Mumbai attacks, and constituted a three-man team of its Federal Investigation Agency (FIA) to probe the incident.

Pakistan said it needed more information from India to proceed with its investigation, including access to the site of the terror attacks, and reiterated its offer of a joint probe.

The FIA team will comprise Additional Director-General Javed Iqbal, the head of the Special Investigation Group of the FIA’s anti-terror unit Khalid Qureshi and Liaquat Ali Khan, a director in the agency, reports said.

At a press conference, Interior Ministry chief Rehman Malik listed the actions taken by the government since the Mumbai attacks: shut down 20 offices of the JuD, 87 schools linked to it, two libraries, seven seminaries, eight other “small organisations” about which he did not give any more details, and seven websites.

Also shut down are 13 disaster relief camps run by the JuD. But Mr. Malik did not specify if the JuD’s Muridke headquarters had been sealed. He also left the number of individuals detained rather unclear.

At first, Mr. Malik said 124 people had been detained, including Hafiz Mohammed Saaed, the head of the JuD, Mufti Abdulrehman, Colonel (retired) Nazir Ahmed, Amir Hamza, and Zakiur Rehman Lakhvi.

Asked about Zarar Shah, an LeT operative who is said to have played a key role in the attacks, Mr. Malik, without answering the question, said 71 people had been detained, and 125 kept under surveillance “since the last six months.”

Pakistan was “fully committed” to helping India with the investigations into the Mumbai attacks, Mr. Malik said.

He said in order to convert the “information” given by India into “evidence” that could be presented in a court of law, including in a Pakistani court, “counterparts” in India need to give the FIA team access to the Mumbai sites where the attacks took place.

Mr. Rehman parried a question on whether the action that Pakistan was taking meant that the government now agreed with the Indian allegation that LeT was involved in the Mumbai attacks.

The Foreign Ministry, meanwhile, dubbed as “unfortunate” recent remarks by Home Minister P. Chidambaram that India could sever trade, transport and tourist links with Pakistan.

Wednesday, January 14, 2009

I was terrified before Globes: Rahman

Music maestro A.R. Rahman, who scripted history by becoming the first Indian to get the Golden Globes honour for Slumdog Millionaire has revealed that he was terrified just before the awards as he did not want to disappoint one billion Indians. “Somewhere I think I was terrified on Monday. I didn’t want to let down a billion people there and say ohh! he said. Rahman bagged the Golden Globes award for Best Original Music Score for Slumdog Millionaire. Directed by British filmmaker Danny Boyle, the film bagged four prestigious awards including the Best Motion Picture.

Rahman said his award is dedicated to one billion Indians. “For me it is an award, but for Indians it is a great deal. I feel proud about it. After all those low in the last couple of months it is great to see all the happiness and positivity,” the musician said referring to the recent terror attacks on Mumbai. “I have never been so excited for any other award,” he said. He also revealed that he was uncertain about taking up the project initially due to his busy schedule “but something told me that it will be great to work with such a legendary director like Danny Boyle,” he said.

Oz offers ‘best job in world’

An Australian state has launched a global search for candidates for “the best job in the world” — earning a top salary for lazing around a beautiful tropical island for six months. The job pays AU$150,000 ($105,000 ) and includes free airfares from the successful applicant’s home country to Hamilton Island on the Great Barrier Reef, Queensland’s state government announced on Tuesday.

In return, the “island caretaker” will be expected to stroll the white sands, soak up the sun, snorkel the reef, “maybe clean the pool” — and report to a global audience via weekly blogs, photo diaries and video updates. The winner, who will stay rent-free in a multi-million dollar three-bedroom beach home complete with plunge pool and golf buggy, must be an excellent communicator and be able to speak and write English. The campaign was a drive to protect state’s tourism industry

India can snap Pak ties

The Union home minister, Mr P. Chidam-baram, has said that India would break off business, transport and tourist links with Pakistan and isolate it from the rest of the world if it fails to help to investigate the 26/11 terrorist attacks, according to a report here. Accusing Pakistan of doing nothing to assist India in the investigation into the Mumbai terrorist attacks, Mr Chidambaram told London’s Times in an interview that Islamabad had done nothing to help. “Zero. What have they provided? Nothing,” he said.

Indicating the line of act-ion India would take against Pakistan, Mr Chidambaram, who took over as the home minister after 26/11 attacks, said: “There are many, many links between India and Pakistan, and if Pakistan does not cooperate and does not help to bring the perpetrators to heel, those ties will become weaker and weaker and one day snap.”

“Why would we entertain Pakistani business people? Why would we entertain tourists in India? Why would we send tourists there?” he said. However, Mr Chidamb-aram did not reveal when India might introduce these measures against Pakistan. He only said: “We need cooperation soon.” The newspaper also quoted an unnamed senior government source in India as denying any link between Kashmir and the Mumbai terror attacks

Satyam may get Rs 2,000cr

The corporate affa-irs minister, Mr Prem Chand Gupta, in a high level meeting chaired by the Prime Minister, Dr Manmo-han Singh, informed that Satyam may need Rs 500 crore immediately to meet salary and other working liabilities of the company, said sources. Further, over a period of four months it may need an assistance of Rs 2,000 crore from the government. During the meet at the Prime Minister’s residence, among the options, apart from government funding, the leaders also deliberated over the possibility of selling Satyam’s assets to raise funds, sources in the Prime Minister’s Office said adding that Dr Singh was closely monitoring the Satyam developments.

Among the leaders who attended the meeting were the external affairs minister, Mr Pranab Mukherjee, the home minister, Mr P. Chidambaram, the commerce and industry minister, Mr Kamal Nath, the corporate affairs minister, Mr P.C. Gupta and the deputy chairman of planning commission, Mr Montek Singh Ahluwalia.

Probe panel finds evidence

The Serious Fraud Investigation Office (SFIO) has affirmed that the Satyam management led by Mr B. Ramalinga Raju was involved in conspiracy, criminal breach of trust, forgery, cheating and violations of the Companies Act and the Securities and Exchange Board of India (Sebi) rules.

Officials of the SFIO, which comes under the ministry of corporate affa-irs, found prima facie evidence of mammoth fraud during the inspections they carried out in Satyam offices on Tuesday. The SFIO, set up in 2003, is a multi-disciplinary agency having experts from financial sector, capital market, accountancy, forensic audit, taxation, law, IT and investigation.

An SFIO team led by Mr Puneet Rastogi has been in the city from January 8. Sources said nearly half of the SFIO staff, including top experts, is part of the team. The SFIO additional director, Mr K.V.S. Singh and joint director (banking), Mr Sudhir D. Sam-ant, also arrived in the city for the probe. Meanwhile, the ministry issued a formal order under Section 235 and 237 of Companies Act to investigate the Satyam fraud case based on the preliminary report of the Registrar of Companies.

The corporate affairs minister, Mr Prem Chand Gupta, said in Delhi the SFIO had been asked to submit its probe report in three months. A senior official said it was clear that the Raju brothers and promoters forged documents and cheated the investors who lost Rs 10,000 crore in the market. “They will be probed under Section 628 of Companies Act for falsification of balance sheet and under Sebi Act for fraudulent practices and insider trading,” he added.

“All of them — the brothers, CFO and regular directors—will face prosecution.” However, the 20-member SFIO team in the city will not look into the assets and liabilities of Satyam and its promoters. It will be focused on the account books. An official said that SFIO will not make any arrests in the case. “The CID will continue its probe and the court may merge both the cases when the charge-sheet is filed,” he added. This is the first time the SFIO is taking up a case of this magnitude. It usually takes up cases of closed down companies.

Israeli troops enter into populated areas of Gaza

Israeli ground forces were involved in fierce clashes with the Hamas as troops tightened their hold around Gaza city on Tuesday with Prime Minister Ehud Olmert warning that the Hamas face an "iron fist".

As the Israeli offensive against Hamas entered its 18th day, ground forces tightened their hold around the Gaza. Israeli military said troops were "tightening the encirclement of the city" as forces pushed deeper into the populated areas of the enclave where more than 900 Palestinians, nearly half of them women and children, have been killed.

Israeli Prime Minister Ehud Olmert threatened to hit Hamas with an "iron fist" if it did not end the rocket attacks which Tel Aviv aims to end.

Olmert said Israel's key demands were non-negotiable. "We want to end the operation when the two conditions we have demanded are met: ending the rocket fire and stopping Hamas's rearmament. If these two conditions are met, we will end our operation in Gaza," he said. "Anything else will meet the iron fist of the Israeli people, who are no longer ready to tolerate the Qassams (rockets)."

Israeli military spokesman said nearly 30 missiles had been launched from Gaza yesterday, but no casualties were reported.

"We are tightening the encirclement of the city," the offensive's commander, Brigadier Eyal Eisenberg, told reporters. "We are not static. We are careful to be constantly on the move."

The defiant Hamas showed no signs of wavering. Gaza's Hamas prime minister said they were "closer to victory."

The fighting, which began on December 27, has killed more than 900 Palestinians, about half of them civilians, according to Palestinian medical officials. Thirteen Israelis, including 10 soldiers, have been killed.

India may snap business, transport links with Pak: Chidambaram

India may break off business, transport and tourist links with Pakistan if it fails to help to investigate the Mumbai attacks, Home Minister P Chidambaram has warned, pressing Islamabad to "cooperate soon."

"There are many, many links between India and Pakistan, and if Pakistan does not cooperate and does not help to bring the perpetrators to heel, those ties will become weaker and weaker and one day snap," Chidambaram told 'The Times' daily.

"Why would we entertain Pakistani business people? Why would we entertain tourists in India? Why would we send tourists there?"

Chidambaram refused to discuss when such measures might be introduced, but said: "We need cooperation soon."

Accusing Islamabad of doing nothing to bring to justice the perpetrators of the Mumbai attacks blamed on the Pakistan-based Lashkar-e-Toiba, Chidamabaram said Islamabad has provided "nothing" so far after New Delhi handed over a dossier of evidence linking elements within that country to the Mumbai terror attacks of November 26.

Asked what Pakistan was doing to help with the investigation, Chidambaram said: "Zero. What have they provided? Nothing."

Mumbai attack, a new challenge for US diplomacy: Clinton

The incoming Obama administration on Tuesday declared that the Mumbai terror attacks threw up new challenges for American diplomacy.

US Secretary of state designate Hillary Clinton listed the 26/11 strikes as among the six major new challenges for American leadership.

In her testimony to a Senate confirmation hearing, the US President-elect Barack Obama's pick for the top diplomatic job said new conflicts in Gaza, mass killings and rapes in Congo,reports of record high green house gases and rapidly melting glaciers and even an ancient form of terror piracy reasserting itself in modern form in the horn of America were the otherchallenges.

Seventy days since the presidential election offered fresh evidence of these challenges to US diplomacy, she said.

Clinton also vowed to build on the economic andpolitical partnership with India, as she said that US and the world leaders must work together to "solve the most pressing problems."

" We will build on the economic and political partnership with India, the world's populous democracy...,"she said.

The former US First lady also acknowledged that emerging markets like India, China, Brazil and South Africa were feeling the "effects" of the current financial crisis andwanted developed and developing countries to work on strategies to provide economic stability in the world.

She also pledged to renew US leadership through a "smartpower" mix of diplomacy and defence.

India's dossier contains information, not evidence: Gilani

Pakistan Premier Yousuf Raza Gilani on Tuesday claimed that the material provided by India on the Mumbai attacks constituted "information" and not evidence and said that "pragmatic cooperation" was the way forward for dealing with the 26/11 terror attacks.

"All that has been received formally from India is some information. I say information because these are not the evidence. This needs to be carefully examined," he said while making a statement in the National Assembly on the dossier on the Mumbai attacks handed over to Pakistan by New Delhi.

Pakistan, he said, had already assured India of full cooperation in tracking down the perpetrators of the Mumbai attacks.

He also referred to Pakistan's proposal for conducting a joint investigation with India into the incident. "India has, however, not responded to our proposal. We hope they will see merit in it and accept a joint inquiry," Gilani told the lower house of Parliament.

"Serious, sustained and pragmatic cooperation is the way forward. The information provided by India on January 5, 2009, has been sent to the Ministry of Interior for necessary inquiry in accordance with the law," he said.

"The results of the inquiry will be shared with the government of India in due course of time."

Gilani had earlier ruled out handing over any Pakistani national found to be linked to the Mumbai attacks to India or any other country. Such suspects will be tried in the country according to Pakistani laws, he had said.

The dossier handed over by India to Pakistan includes the confession of Pakistani terrorist Ajmal Amir Iman Kasab, the lone gunman captured during the Mumbai attacks, and intercepts of phone conversations between the attackers and their Pakistan-based handlers.

No need to press panic button: Pranab on Satyam

Seeking to allay any fears among foreign investors due to the Satyam fraud, India on Tuesday said appropriate steps are being taken to address the issue and there was "no need to press the panic button".

External Affairs Minister Pranab Mukherjee said "In respect of the recent developments, appropriate steps will be taken. One need not hit the panic button."

Mukherjee, while addressing a joint press conference with British Foreign Minister David Miliband after their talks here, was responding when asked whether the Satyam issue could have an adverse impact on the Indian IT sector in terms of investor confidence.

He underlined that the Indian economy's "basic fundamentals are strong" because of which it has been possible to maintain a "reasonable growth" despite the meltdown.

He said India's growth is expected to be 7-7.5 per cent this year despite the global meltdown, mainly because of high rate of domestic savings and high rate of interests.

"37 per cent is the rate of investment and 35 per cent is savings and marginal (money) is coming from external sources,"Mukherjee said, adding "We have been able to overcome the impact of the meltdown."

Britain said India's economy is quite strong and "one badapple" does not mean the "whole barrel is bad".

British Foreign Minister David Miliband expressed confidence that Indian authorities will deal with the Satyam case "very clearly and very appropriately" as he underlinedthe need for implementation of Indian laws of corporate governance in a "hard-headed and clear way"

International conference on Quantum Physics begins in Mumbai

National scientists and foreign experts on Quantum Physics are here in greater interaction to understand the fundamental science which has several future practical applications.

Eighth in the series and first time in India, the four-day International conference on 'Non-Hermitian Hamiltonians in Quantum Physics' began here on Tuesday.

The scientists will be discussing the newly evolved energy phenomenon using Parity (reflection in space) and Time (PT) to understand several dynamic situations in nature, said R K Chowdhury, Head, Nuclear Physics Division, BARC.

This PT can be applied in a variety of systems, including biological system and condensed physics and solve many theoretical problems, he said.

"In fact, physical contents, when converted into mathematical formulations, will be useful and important for various applications like population biology, quantum computing and vortex problems in superconductors," he said.

Senior physicist Michael V Berry from University of Bristol, England, was the special guest. Among the 25 scientists from abroad, special mention has to be made of the scientist Carl M Bender who was the first one to introduce the PT in the year 1997-98.

Around 150 Indian scientists across the country are attending the conference.

Chowdury also said that recently BARC has built superconducting Linear Accelerator which is coupled to the Accelerator Pelletron located at TIFR to increase the energy two times.

BARC has also built a Tandem Accelerators to get higher energy to work on metal sciences, biology and material characteristics

Space-age fibre-optic probe to help detect cataract early

A compact fibre-optic probe developed for the space programme is proving itself as the first non-invasive early detection device for cataract, the leading cause of vision loss worldwide.

Researchers from the National Eye Institute (NEI), and the National Aeronautics and Space Administration (NASA) collaborated to develop a simple, safe eye test for measuring a protein related to cataract formation.

If subtle protein changes can be detected before a cataract develops, people may be able to avert the risk by cutting down exposure to sunlight, quitting smoking, stopping certain medications and controlling diabetes.

"By the time the eye's lens appears cloudy from a cataract, it is too late to reverse or medically treat this process," said Manuel B. Datiles III, NEI medical officer and co-author lead author of the clinical study.

"This technology can detect the earliest damage to lens proteins, triggering an early warning for cataract formation and blindness."

The new device is based on a laser light technique called dynamic light scattering (DLS). It was initially developed to analyse the growth of protein crystals in a zero-gravity space environment.

The DLS technique will now assist vision scientists in looking at long-term lens changes due to aging, smoking, diabetes, LASIK surgery, eye drops for treating glaucoma, and surgical removal of the vitreous gel within the eye, a procedure known to cause cataracts within six months to one year.

It may also help in the early diagnosis of Alzheimer's disease, in which an abnormal protein may be found in the lens. In addition, NASA researchers will continue to use the device to look at the impact of long-term space travel on the visual system.

NASA's Rafat R. Ansari, senior scientist at the John H. Glenn Research Centre and the study co-author, brought the technology's possible clinical applications to the attention of NEI vision researchers when he learned that his father's cataracts were caused by changes in lens proteins.

Several proteins are involved in cataract formation, but one known as alpha-crystallin serves as the eye's own anti-cataract molecule.

Alpha-crystallin binds to other proteins when they become damaged, thus preventing them from bunching together to form a cataract. However, humans are born with a fixed amount of alpha-crystallin, so if the supply becomes depleted due to radiation exposure, smoking, diabetes or other causes, a cataract can result.

"We have shown that this non-invasive technology that was developed for the space program can now be used to look at the early signs of protein damage due to oxidative stress, a key process involved in many medical conditions, including age-related cataract and diabetes, as well as neurodegenerative diseases such as Alzheimer's and Parkinson's," said Ansari.

"By understanding the role of protein changes in cataract formation, we can use the lens not just to look at eye disease, but also as a window into the whole body."

The recent NEI-NASA clinical trial, looked at 380 eyes of people aged seven to 86 who had lenses ranging from clear to severe cloudiness from cataract.

Researchers used the DLS device to shine a low-power laser light through the lenses.

They had previously determined alpha-crystallin's light-scattering ability, which was then used to detect and measure the amount of alpha-crystallin in the lenses, said a NEI-NASA release.

They found that as cloudiness increased, alpha-crystallin in the lenses decreased. Alpha-crystallin amounts also decreased as the participants' ages increased, even when the lenses were still transparent. These age-related, pre-cataract changes would remain undetected by currently available imaging tools.

These findings were reported in the December Archives of Ophthalmology

Japan to launch multi-satellite mission

Japan got its first commercial order to launch a satellite on a homegrown rocket today, a deal that Japanese officials hope will grow into a business that could support the country's cash-strapped space program.

The agreement -- which targets a liftoff date after April 2011 -- comes less than two weeks before Japan plans to launch eight satellites into space to show that its H2A rocket can compete with rivals in Russia, the United States and Asia's new space powerhouse, China.

Japan's space program has long been focused entirely on lifting government-sponsored, unmanned payloads -- mainly scientific, telecommunications and spy satellites, which it first launched 10 years ago -- off the launch pad.

But officials are hoping that commercial use would help fund Japan's long-term space development, which Tokyo believes is an essential part of national security.

The primary mission of the Jan 21 launch from remote Tanegashima island, where Japan's main space station is based, is to send into orbit a greenhouse-gas monitoring satellite called "Ibuki," which means "breath." But along with the main payload, the rocket will carry seven "baby satellites" -- one developed by JAXA, the government space agency, and six created by university research centres and private industry.

Becoming a commercial space power would help Japan keep apace of an intensifying space race in Asia.

Struggling under a relatively small budget --188 billion yen (USD 2 billion) in 2008 -- Japan has watched rival China march ahead with high-profile manned flights and is now seeing a growing rival in India, which has set its sights on reaching the moon.

Fog hits train services

Twenty-five trains to Delhi were delayed and seven rescheduled as a thick blanket of fog enveloped the city on Tuesday after a gap of one week.

Most of the trains arrived one to three hours behind the scheduled, a Northern Railways spokesperson said, adding that they included the Rajdhanis' from Howrah, Rajendranagar (Patna) and Bhubaneswar.

The rescheduled trains, running two to six hours behind the schedule, includes Andhra Pradesh Express, Tamil Nadu Sampark Kranti Express, Mangla Express, Poorva Express, Sealdah Rajdhani Express and Jabalpur Express.

Trains to South had, in fact, been running late ever since a goods train had derailed between Bhopal and Habibgang on Sunday, the spokesperson said.

Northern Railway has restored the service of one out of the 14 trains originally cancelled up to January 31 due to fog

Appeals to field Priyanka in Lok Sabha polls gain ground

After Rahul Gandhi, will his sister Priyanka enter active politics by contesting the coming Lok Sabha elections? At least six district units from Uttar Pradesh have appealed to the Congress leadership for fielding Priyanka in the elections.

Describing the demands as spontaneous and reflective of the love and affection enjoyed by her in the party, the AICC, however, has said that Priyanka has to give the consent first. "Whenever we go to the people, they ask us why don't you ask Priyanka to contest elections," AICC media department chief M Veerappa Moily told reporters here. "She is a youth icon along with Rahul Gandhi," Moily said when asked whether Priyanka has an appeal with the country's youth.

"This will (Priyanka contesting elections) definitely help the party and the country," he noted. UPCC chief Rita Bahuguna Joshi, however, said Priyanka was "not interested in electoral politics yet" and therefore she has not forwarded the resolutions from several districts to the AICC.

Thirty-five-year-old Priyanka had campaigned for her mother and brother extensively in Rae Bareily and Amethi in the last Lok Sabha election and is known for her spontaneous rapport with the masses. "Fifty five percent of the country's population comprises youth. Today and tomorrow belong to the youth," Moily said, adding "there is a visible desire of the people to have her in politics."

Sanjay Dutt not a criminal, says Samajwadi Party

Justifying Samajwadi Party's move to declare Bollywood star Sanjay Dutt's candidature for Lok Sabha polls, party's Mumbai unit president Abu Azmi said Dutt is not a criminal. "Dutt is not a criminal. I know him since his childhood. He was not even involved in 1992-93 Mumbai bomb blasts," Azmi told reporters here on Tuesday.

Asked reason behind his party offering Lok Sabha ticket to the actor, Azmi said, "Congress has done injustice to Dutt and therefore Samajwadi Party has announced his name." Dutt's candidature was announced last week by SP General Secretary Amar Singh, who said if Dutt was barred from contesting elections because of the criminal cases against him the party would move the Election Commission or the Supreme Court.

Accusing the Congress of delaying the decision over pre-poll alliance, Azmi said the party would wait for two more days for Congress' response. "We will wait till January 15 for the Congress to reply, but our party is firm on contesting five seats in Mumbai, including south, south-central, north-central, north-west," he said.

Other seats which the SP wants to contest in Maharashtra include Malegaon, Yavatmal, Aurangabad, Bhiwandi and Thane. Azmi said he wanted to contest Lok Sabha election from Mumbai's north-west constituency "despite the party workers' pressurising him to contest from UP".

Sanjay Dutt not a criminal, says Samajwadi Party

Justifying Samajwadi Party's move to declare Bollywood star Sanjay Dutt's candidature for Lok Sabha polls, party's Mumbai unit president Abu Azmi said Dutt is not a criminal. "Dutt is not a criminal. I know him since his childhood. He was not even involved in 1992-93 Mumbai bomb blasts," Azmi told reporters here on Tuesday.

Asked reason behind his party offering Lok Sabha ticket to the actor, Azmi said, "Congress has done injustice to Dutt and therefore Samajwadi Party has announced his name." Dutt's candidature was announced last week by SP General Secretary Amar Singh, who said if Dutt was barred from contesting elections because of the criminal cases against him the party would move the Election Commission or the Supreme Court.

Accusing the Congress of delaying the decision over pre-poll alliance, Azmi said the party would wait for two more days for Congress' response. "We will wait till January 15 for the Congress to reply, but our party is firm on contesting five seats in Mumbai, including south, south-central, north-central, north-west," he said.

Other seats which the SP wants to contest in Maharashtra include Malegaon, Yavatmal, Aurangabad, Bhiwandi and Thane. Azmi said he wanted to contest Lok Sabha election from Mumbai's north-west constituency "despite the party workers' pressurising him to contest from UP".

Two militants, two policemen killed in encounter

Two militants, believed to be those who escaped from the army offensive at Poonch recently, were killed in an encounter at Rajouri belt by Jammu and Kashmir Police who lost two of its men in the gun-battle which is on.

On information that five militants were hiding in Tringa Gala area of Dharamshal belt in Rajouri, a police team launched a cordon and search operation, Noushera Superintendent of Police R K Bhat told PTI.

The police teams interecpted the groups that triggered a gun battle for a few hours, the sources said, adding two militants believed to be of Pakistan-based Jaish-e-Mohammed (JeM) were killed while search was on for the others.

A constable and Special Police Officer (SPO) were also killed in the encounter, they said, adding Army had also now been pressed into service for combing the area.

Police hunt for kidnapped Greek shipping magnate

Greek police were searching on Tuesday for an elderly and ailing shipping magnate kidnapped a day earlier near his home in a seaside suburb of Athens.

Three gunmen snatched Periklis Panagopoulos, 74, along with his driver Monday morning after they had left the shipowner's home in Vouliagmeni.

They released the driver unharmed, and he notified authorities.

Police refused to confirm Greek media reports of a ransom demand of euro40 million (US$53.58 million) for Panagopoulos _ who founded Royal Cruise Lines as well as Attica Group, which owned two ferry lines.

Authorities declined to give information about the search for fear of endangering the investigation.

Panagopoulos' family appealed through the police for his release, saying he suffers from serious health problems.

``The victim is 74 years old and has a serious health condition that requires daily medication,'' police spokesman Panagiotis Stathis said Monday.

He said authorities found two vehicles _ a van and a jeep set on fire _ abandoned by the kidnappers several kilometers (miles) from the site of the abduction.

Panagopoulos founded Royal Cruise Lines in 1971 and sold it in 1989 to a Norwegian company. He then moved into the ferry sector and founded Attica Group, which eventually owned Superfast Ferries and Blue Star Ferries with routes around Greece and Italy. He no longer runs that company.

Kidnappings are rare in Greece, though occasionally businessmen have been abducted for ransom. In June, gunmen snatched Greek industrialist Giorgos Mylonas near his home in the northern city of Thessaloniki and held him for 13 days until his family paid a ransom.

In August, police arrested four suspects in that case, including Greece's most wanted man, convicted armed robber Vassilis Paleokostas. Paleokostas had escaped from a maximum security prison in Athens in 2006 using a helicopter commandeered by accomplices.

Australian aviation pioneer dies at 93

Aviation pioneer Nancy Bird-Walton, who became the first woman in Australia to operate a commercial aircraft, died on Tuesday. She was 93.

Walton, who was named a Living National Treasure by the National Trust of Australia in 1997, died at her Sydney home Tuesday afternoon, her granddaughter Anna Holman said.

``I most remember her as my grandmother, who was a part of my everyday life and who was exceptionally inspirational to women all over Australia,'' Holman said. ``But most of all, she made great chocolate cakes with peppermint icing.''

Sir Charles Kingsford-Smith, the first man to fly across the mid-Pacific, taught Walton how to fly in 1933, when she was just 17 years old. Two years later, she obtained a commercial pilot's license and began taking paying passengers for joyrides around the country.

She later ran an air ambulance service for remote Outback areas of New South Wales state, becoming known as the ``Angel of the Outback.'' In 1950, she founded the Australian Women Pilots' Association, which mentors female pilots.

Last year, she attended the inaugural Australian landing of Qantas Airways' first A380 super jumbo aircraft, which was named in her honor.

``I was asked if Qantas could name this plane after me at my 90th birthday three years ago and I made it my decision to stay alive,'' she said at the ceremony in Sydney.

In a statement on Tuesday, Qantas Chief Executive Officer Alan Joyce praised Walton for her ``boundless energy, her courage and her vision for the role of women in aviation.''

Walton is survived by her two children, four grandchildren and two great-grandchildren.

Over 400 Palestinian women, children killed in Gaza conflict: UN

Voicing concern over the worsening situation in the Gaza Strip due to the ongoing war between Israel and Hamas, the UN has said that over 400 Palestinian children and women have been killed so far in the conflict.

Painting a dismal picture of Gaza under attack from Israel, senior UN officials gave grim statistics that 40 per cent of about 900 Palestinians killed and 3,820 wounded were women and children.

The officials "horrified and appalled" by the figures, expressed concern that neither Hamas nor Israelis are honouring the binding Security Council resolution called for immediate ceasefire.

"Behind those statistics that we read out every day is really profound human suffering and grave tragedy for all involved and not just for those who are killed and injured but for their families as well," UN Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) Director of Operations John Ging told a news conference in New York.

Speaking by video link from Gaza after he had just visited the main Al Shifa hospital he said, "(It) is the place of course where you see the most horrific human consequences of this conflict. Among the tragic cases that I saw were a child, six years of age, little or no brain activity, people don't have much hope for her survival; multiple amputee – another little girl; and a pregnant woman who'd lost a leg."

The Israeli offensive went into its 17th day with the stated aim of ending Hamas rocket attacks into Israel.

"The hospital is really full of patients whose lives have been in many instances really destroyed, and they're alive."

The Lok Sabha Speaker said that he had decided to retire from electoral politics and would not seek re-election.

"I have already said I will retire from electoral politics and will not contest the Lok Sabha election," Chatterjee said.

He said after retirement from electoral politics he would engage himself in social work and construct a residence at Bolpur.

The 79-year-old former CPI(M) leader said he had served the party for a long and had accepted the party's decision to expel him.

Shortly after the Congress-led UPA won the confidence vote in the Lok Sabha in July last year, the CPI(M) had expelled Chatterjee for disobeying party whip

South Korea to send nuclear experts to North Korea

South Korea will send a team of nuclear experts to North Korea this week to survey Pyongyang's unused fuel rods, the Foreign Ministry saidon Tuesday.

The delegation led by Hwang Joon-kook, Seoul's No 2 nuclear envoy for the disarmament talks on the North's nuclear weapons programs, will fly to the North on Thursday, the ministry said in a statement.

The ministry did not say how long the delegation will stay in the North.

During the trip, the South Korean experts will examine technological and economic factors over the unused fuel rods, the ministry said.

Pyongyang agreed to export its unused fuel rods to other countries during the latest disarmament talks in Beijing in December. The talks also involve South Korea, the United States, China, Russia and Japan.

Seoul has said in the past it would consider buying the North's fuel rods if they can be adapted to work in South Korea's power-generating nuclear reactors.

The US and five other regional powers have sought to coax North Korea, which tested a nuclear device in 2006, to abandon its nuclear program by offering aid for disarmament. The process has been held up over verification of its past nuclear activities.

Greenpeace buys land to foil London runway plans

Greenpeace says it bought a small plot of land within a site proposed for a third runway at London's Heathrow Airport in hopes of blocking the project.

The environmental group says it owns the plot in Sipson village along with Oscar-winning actress Emma Thompson, comedian Alistair McGowan and environmental campaigner Zac Goldsmith.

Opponents of the Heathrow expansion say it would increase noise pollution and harm the environment. But proponents say building the new runway would create jobs and help one of the world's busiest airports cope with increasing traffic.

The government is to decide on the expansion this month.

Greenpeace UK said Tuesday it would not sell the land to airport operator BAA to be razed for the expansion.

sankranthi

Praying for the happy and prosperous days to come, these women in Thanjavur celebrate Pongal with fervour

sankranthi

Praying for the happy and prosperous days to come, these women in Thanjavur celebrate Pongal with fervour

County to cut 11 vacant positions, saving $402,000

As the Beaver County Commissioners ponder additional budget cuts, 11 vacant positions will be eliminated next week totaling about $402,000 in salaries alone.

During a salary board work session Tuesday, county jail Warden William Schouppe told the three commissioners, who sit on the salary board with Controller David Rossi, that he will abolish seven vacant positions totaling about $279,300, including the chief of security job formerly held by Sheriff George David.

Each county position generally accounts for an additional $11,000 in benefits so the savings reflected by the cuts in the 2009 budget could grow by another $121,000.

The other jail positions, Schouppe said, will be records manager, a sergeant’s slot and four full-time jail guard jobs that the union agreed to give up under its latest contract so that the county could use part-timers to save money.

David left his jail job more than a year ago after he was elected sheriff. The position has been vacant since David left, and Schouppe said he, director of treatment Carol Steele-Smith and a lieutenant have assumed portions of David’s duties.

Other vacant positions that should be eliminated Tuesday when the salary board holds its regular meeting include two clerks under the county courts ($28,508 and $21,431 in salaries), a clerk under Recorder of Deeds Janice Beall ($22,859) and the county communications director ($50,441), which has been unfilled since Brian Hayden left in February.

Commissioners Chairman Tony Amadio said that county financial administrator Rob Cyphert is still reviewing budget cuts proposed by row officers and department directors last week and that decisions on further reductions, including layoffs, won’t be made until Cyphert meets with commissioners, which will probably happen next week.

“We’re just trying to cut wherever we can,” said Amadio, who reiterated that commissioners need to close a $1.4 million general fund gap.

J.D. Prose can be reached online at jprose@timesonline.com.

NO VACANCIES

Eleven vacant positions will likely be eliminated next week by the county salary board. The positions total about $402,000 in salaries and could include $121,000 more in benefits. The jobs that will disappear:

•Seven positions at the Beaver County Jail, including chief of security.

•Two clerk positions under county courts.

•A clerk position in the recorder of deeds office.

•County communications director.

I am glad dad is not alive to see this: Priya Dutt


“If Sanjay wanted, he could have got a Congress ticket at the appropriate time. My father would never have associated with the Samajwadi Party (SP). For the first time since he died I am thankful he is no longer alive to see this ignominy.”

Congress MP Priya Dutt was mincing no words. And this time the targets were her brother and his wife Maanyata.

Priya was utterly shocked when the SP’s Amar Singh announced her brother Sanjay’s candidature from Lucknow on his party ticket. She was upset that neither she nor her sister Namrata were consulted before Sanjay took the decision.

“I first refused to believe it. But later I decided to put a good face on it and wish him the best,” Priya told Hindustan Times.

But now she has come out in the open against her brother because of Singh’s efforts to field Maanyata in place of Sanjay in case he does not get Supreme Court clearance to contest. Sanjay was convicted for six years in the 1993 Mumbai bomb blasts case and needs the conviction stayed to enter Parliament.

Priya is certain the decision to contest was not her brother’s, but Maanyata’s. “He is far too busy with films to find the time for politics. He has all along insisted he has no plans to enter politics yet, but every time he would issue a statement to that effect Maanyata would counter it by saying, ‘No, Sanjay will contest’,” Priya said. “She manipulated my brother into this situation to further her own ambitions.”

But why is the rest of the Dutt family so much against Sanjay’s wife? “She is not his wife. She is not even the daughter-in-law of Sunil and Nargis Dutt as Singh claims. She is just some woman who has trapped my brother,” said Priya.

At the Hindustan Times Leadership Summit last November, answering a question from HT Advisory Editorial Director Vir Sanghvi, Sanjay sought to play down the differences between his wife and his sisters by saying: “All sisters are against their brothers’ wives.”

But Priya told HT: “This is not the usual saas-bahu kind of difference between a nanad and a bhabhi. We are against her because of the kind of woman she is. I cannot even begin to tell you what it means to have my father’s fair name sullied by a woman like her.”

Priya hinted at a scandalous past and is afraid that if Maanyata contests, it will not only explode in her face but completely destroy the reputation her father built.

The Dutt family, which has stood by Sanjay through thick and thin, has sent out a clear message to him: “You are on your own on this one.”

Yahoo! announces new chief executive as Carol Bartz


Carol Bartz, former chief executive of software company Autodesk, is the new head of internet giant Yahoo!

The company announced her appointment as chief executive, effective immediately, two months after co-founder Jerry Yang stepped down from the post.

Ms Bartz, 60, served as president, chairman and chief executive of Autodesk from 1992 to April 2006 and has been serving as executive chairman of the board of the company, which is based in San Rafael, California, and has about 7,000 employees.

Roy Bostock, the chairman of the board, said: "We are very excited to have Carol Bartz leading Yahoo! into its next era of growth.

"She is the exact combination of seasoned technology executive and savvy leader that the board was looking for, and we are thrilled to have attracted such a world-class talent to Yahoo!.

Ms Bartz said: "There is no denying that Yahoo! has faced enormous challenges over the last year, but I believe there is now an extraordinary opportunity to create value for our shareholders and new possibilities for our customers, partners and employees. We will seize that opportunity."

Mr Yang, who angered many Yahoo! share-holders last year for rejecting a $47 billion takeover offer from Microsoft, announced in November that he was stepping down after little over a year as chief executive.

Ms Bartz, one of the leading women in the technology sector, is admired for her management skills and ability to cut deals.

She previously worked at Sun Microsystems, Digital Equipment, and 3M and sits on the boards of Cisco Systems and Intel.

A member of President Bush's Council of Advisors on Science and Technology, she has been named to Fortune magazine's list of the "50 Most Powerful Women in Business" and to Barron's list of the "World's 30 Most Respected CEOs.

However, the bulk of her experience has been in software and hardware aimed at enterprise, not in the internet, consumer media or advertising — Yahoo!'s core businesses.

Rahman of the moment


AR Rahman probably has a cupboard full of awards the way some Bollywood names have cupboards full of skeletons. In both cases, it’s usually a
AR Rahman
AR Rahman (TOI Photo) More Pics
case of ‘what’s the big deal about one more’.


But the Golden Globe puts him, literally, in the global league. At this point, looking back, which is the first award that really meant something to him? “I think the first big award that I treasured was the National Award for Roja. That was a great feeling. It was also very unexpected.”

This one surely wasn’t. How does the kick of getting a Golden Globe for Danny Boyle’s Slumdog compare with that years-old high of the National Award for Mani Ratnam’s Roja? “I think I feel a kind of sense of déjà vu. The whole thing. Because all those comments that came my way then – I am hearing all of them again. People are saying ‘Oh, the same kind of music has been in Hollywood for so long, and this film has come and re-energised the whole thing, it’s on a different path, it’s such a relief to hear a different kind of soundtrack...’ It feels as if the whole experience which came with the first award for Roja is being repeated, just at a different place.”

That experience moved him from the regional to the national stage in one definitive move, and now he’s been propelled firmly onto the global platform in a manner unprecedented for an Indian. No harm in such déjà vu moments at all, surely? “Yes...,” he laughs. “God is kind...”

God is kind to the deserving, some would say. Just before the Globe awards, Rahman said, ‘The more you expect, the more frustration comes’. On the other hand, he’s been fairly – and uncharacteristically – vocal about saying that he wants an Oscar for Slumdog’s music. Isn’t that contradictory? “See, the film was just a heartbeat away from getting the Golden Globe. At the same time, we weren’t very certain about it actually happening. So instead of lusting over it, we said, okay, let’s just be cool about the whole thing, if we don’t get it, that’s okay... But after I said that this award doesn’t mean very much for me, but for India, it means a big deal, so I want to win it for India – after I said that, I was terrified every night. What if I don’t get it? I’ll be letting so many people down. This is the first award ever that I have been so terrified about not getting. That’s because seeing the disappointment of so many people would have been tough – that way, getting it was great. When I said to the audience here also, that this is for the one billion people of India – the people just loved it.”

The superlatives are flying thick and fast – Indian Mozart, Genius, Danny saying it is one of the high points of his career to have worked with Rahman (“He did? So sweet!”). Unlike a SRK, who carries his compliments and adjectives with a swagger, he generally ducks them, is rarely seen preening while counting the feathers in his hat. But how does it really feel inside? “I think I feel much lighter when I don’t take these things very seriously, personally, when I can just behave naturally. I think it’s very difficult to progress when there is too much luggage on your head, metaphorically speaking. I feel much better and spiritual when I am away from that, definitely, and so I consciously choose that path of life.” So his personal spirituality is an extension of his work, right? “Very true.” Then, after a quiet moment, he continues, “The most beautiful thing is that after you work really hard, and it comes out, and then it changes – it becomes a part of people’s lives, and people own it. You don’t own it anymore, they own it. That’s the most beautiful thing. Awards and all are definitely secondary. However, in this particular case, someone from India getting an award like this for the first time, it’s important because I think it serves to raise the spirits of people, of all creative people, to tell them that that there is a way, and if we work hard, we will make it, we can make it – that’s the great thing. And I am glad that I was like an instrument for that.”

Is India a fad, the flavour of the season, or is it here to stay? “India is so rich in culture, it has so much spirituality in it, it has so many hidden qualities to it, it has to come out one way or another. If people are incompetent to show it, somebody else who is competent does it.”

Can we read between the lines here – he’s saying that internally, we haven’t developed that sort of competence in cinema? It’s been said that this was a film that an Indian director should have made long back, but none could, till Danny came along and made it. He then obviously agrees with that line of thought. “Absolutely, ya. In my opinion, there’s too much that we try to do... if you aim at too many things, you fail. You aim at one thing, it works. You need to be honest with one film and go with your passion. Here, when we do a film, we are saying I want to satisfy the South Indian audience, I want to satisfy the Bihari audience, I want to satisfy the Punjabi audience – and I also want to win an award at Cannes! Which is just not possible, because the sensibilities are different. Either you raise this taste to that level – or you do films for, you know, the audiences, be proud of the stuff which we have been doing. Nothing wrong in doing that either.”

Received forward contracts for $220 mn: NIIT


NIIT Technologies has declared its third quarter results. The company's standalone net sales were at Rs 128.3 crore versus Rs 134 crore on quarter-on-quarter (QoQ) basis. The company's standalone net profit was at Rs 12 crore versus Rs 29.4 crore on QoQ basis. Its consolidated revenue was at Rs 248.5 crore versus Rs 258.7 crore on QoQ basis.

Arvind Thakur, CEO, NIIT Technology, said that the company took a Rs 18.9 crore hit on revenues on account of mark-to-market losses. He informed CNBC-TV18 that the company has forward contracts of about USD 220 million hedged over a period of 30 months. “These forward covers have been taken at an average rate of Rs 41.50 to a dollar. If the rupee appreciates, this overhang on our revenues would reduce.”

Here is a verbatim transcript of the exclusive interview with Arvin Thakur on CNBC-TV18. Also watch the accompanying video.

Q: You’ve got your consolidated net sales up at about 6% odd. The net profit is down at about 52%. Now on account of adoption AS 30, we have seen that Rs 18.9 crore hit on your MTM – can you just take us through the quarter as to what have been the pressure points and has it been primarily the forex front that has caused this bottomline pain?

A: Absolutely correct and it is predominately on account of forex. As a result of MTM, we had to bear a revenue loss of Rs 18.9 crore on our topline and further because the pound sterling declined dramatically during the quarter by almost 18%. We had to book a net exchange loss on our accounts as receivables and payables in our other income, which together contributed to about another Rs 13.9 crore. That pulled down our net margins.

Q: What would your outstanding hedge positions be currently and do you sense any reversal could benefit your MTM now going forward?

A: We have forward contracts of about USD 220 million and this is hedged over a period of 30 months. These forward covers have been taken at an average rate of Rs 41.50 to a dollar. So yes indeed if the rupee appreciates obviously this overhang on our revenues would reduce.

Q: Could you give me some sort of an outlook in terms of what the volume picture would be going forward even in terms of pricing and your client picture and has the integration of ROOM Solutions happened completely now?

A: Yes indeed. ROOM Solutions is completely integrated. In fact, it is a key element of our growth strategy going forward; we are looking at moving our business to become more nonlinear and platform-based. October 2, 2008 was when we launched a new framework for insurance processing for which we have already acquired two new customers and hopefully that will pan out well for us going forward into the future.

More importantly, this quarter is characterized by a record intake of business – we booked USD 148 million of business in this quarter, which has been the maximum we have done in any quarter so far.

Q: A quick word on the outlook?

A: We don’t give any guidance when we talk about our results but certainly we can see order intake improving dramatically. So hopefully that will pan out well for us in the future.

WRAPUP 1-Saudi, Qatar say oil price should support investment

Crude oil's fall in recent months will help support a sagging world economy but current prices do not reflect fundamentals and need to be at a level that encourages investment, two OPEC producers said in New Delhi on Wednesday.

The global financial crisis, the worst since the 1930s, has pushed much of the industrialised world into recession, causing oil demand to slump and crude prices to tumble by more than $100 from its record peak above $147 a barrel last July.

Saudi Oil Minister Ali al-Naimi told delegates at the Petrotech conference oil prices should be stable and more predictable, and added he was especially committed to the needs of growing Asian markets.

Qatar's Oil Minister Abdullah al-Attiyah suggested a target price of $70, which is about 80 percent higher than the current level, to encourage investment, while Angola's deputy oil minister said nobody was happy with the present level of prices.

"Stability means oil prices maintained at a level that encourages investment, helping create a climate conducive for the development of all viable energy sources," Naimi said.

On Tuesday, Naimi said on the sidelines of the conference that the world's top exporter would cut output next month to below its OPEC target and was prepared to go even further to arrest the fall in prices.

Talks of production cuts and cold weather in the United States helped oil rise 3 percent towards $39 a barrel on Wednesday although it later slipped back below $38 after news of worse-than-expected U.S. retail sales figures depressed stock markets and hit the dollar

Clinton navigates confirmation hearing smoothly

Sen. Hillary Rodham Clinton smoothly took on policy questions, from the acute to the arcane, in a gentle job interview to be the nation's top diplomat, but she could not dispel tougher questions about whether her husband's charity work poses an ethical conflict.

Her confirmation as secretary of state is not in doubt, and she could be on the job as soon as President-elect Barack Obama's first full day in office. The Senate Foreign Relations Committee planned to vote on the selection Thursday.

"I thought it was a very strong performance," said Sen. John Kerry, D-Mass., the committee chairman and once thought to be a top contender for secretary of state in the Obama administration.

"She clearly demonstrated a different path from the past administration in terms of engagement with Iran, I think, even talking about how they are going to walk a line in the Middle East as an honest broker in the effort to end the violence," Kerry said Wednesday on NBC's "Today."

In testimony Tuesday, Clinton offered well-prepared answers to questions on crises and trouble spots including the Israeli-Palestinian conflict, Iran, Cuba and Afghanistan. She offered few details about how she and Obama would handle those problems, except to say that in many cases they would offer a fresh approach after eight years of President George W. Bush.

But she also displayed the brisk, lawyerly persona she often uses to deflect controversy as she dealt with uncomfortable questions about the international fundraising of her husband, former President Bill Clinton. Several Republican senators questioned the scope of an agreement between Bill Clinton's lawyer and Obama transition officials to deal with questions of possible ethics conflicts, and the current New York senator was quick to dismiss them.

"I am very proud to be the president-elect's nominee for secretary of state, and I am very proud of what my husband and the Clinton Foundation and the associated efforts he's undertaken have accomplished, as well," Clinton said.

Citing policy themes familiar from Obama's presidential campaign — and in many cases her own — Clinton said the incoming Democratic administration wants to elevate the role of diplomacy.

"The president-elect and I believe that foreign policy must be based on a marriage of principles and pragmatism, not rigid ideology, on facts and evidence, not emotion or prejudice," Clinton said.

That was fine by everyone on the committee, apparently, as was nearly everything else Clinton said about subjects as complex as counterinsurgency strategy in Pakistan and as arcane as the international Law of the Sea.

Clinton's cool demeanor held as she told Sen. Richard Lugar, R-Ind., that her husband's globe-trotting charity work would not pose even an appearance of conflict with her own world travels as Obama's chief diplomat. But her answers took on a prickly tone as Sen. David Vitter, R-La., bored in with more reservations.

Despite efforts by Lugar to win more concessions from Bill Clinton on guarding against ethics conflicts, his wife insisted disclosure rules already in place were carefully crafted and adequate to avoid any conflict.

"It is not unique, however, for spouses of government officials to work, and there are very well established rules for what is expected when that occurs," she said.

Lugar was not convinced, though he assured Clinton of his vote.

"I plead for you, really, to give even more consideration," Lugar gingerly suggested.

Lugar said he worries that foreign governments or others might try to curry favor with the secretary of state by donating money to the good works group run by her husband. Lugar said the possibility for apparent conflicts of interest is obvious, even if both Clintons have only the best of intentions.

Before the hearing, Lugar made four suggestions to Clinton's staff on how to improve transparency in her husband's charitable fundraising, said the senator's spokesman, Andy Fisher.

The Obama administration would accept only one of the proposals — that the foundation provide a clear picture of its annual donations, Fisher said.

Lugar also wanted the foundation to immediately disclose donations of $50,000 or more, alert ethics officials when such sizable donations are pledged and apply the same stringent requirements to foreign businesses. The current plan only subjects foreign governments to scrutiny by State Department ethics officials and would not require a review of contributions by foreign businesses — a loophole that could easily be exploited, Lugar warned.

Vitter followed up, insisting that Bill Clinton's charity fundraising posed "real and perceived conflict issues."

After a long Clinton answer, Vitter interrupted to complain that she was eating up the time allotted for his questions. But for the most part, Vitter's Republican counterparts did not press the attack. It was Clinton's day.

She sat alone at a small, black-draped desk, with a retinue of advisers behind her, her husband conspicuously absent. Obama spokesman Tommy Vietor said the former president was watching the hearing elsewhere with his wife's mother. Clinton's daughter, Chelsea, sat behind her in the audience.

"President Clinton wanted to make sure the attention was focused on Sen. Clinton," Vietor said.

The questions began with Iran, a subject on which Clinton once suggested Obama was naive.

"We are not taking any option off the table at all, but we will pursue a new, perhaps different approach that will become a cornerstone of what the Obama administration believes is an attitude toward engagement that might bear fruit," she said.

UN chief says Gaza negotiations must intensify


U.N. Secretary-General Ban Ki-moon became the latest global diplomat to try to put out Middle East fires on Wednesday as he began his weeklong Middle East trip in Egypt with a call for intensifying negotiations and an immediate halt to fighting in Gaza.

Egyptian Foreign Minister Ahmed Aboul Gheit, whose nation has dominated the search for a solution to Israel's battle with Hamas, said it had received the militant group's latest proposal and would convey it to the Israelis.

For the past 19 days, Israel has been hitting the Gaza Strip in an attempt to end Hamas rocket fire, killing over 940 Palestinians, according to Palestinian medical officials.

"My call is (for) an immediate end to violence in Gaza, and then to the Israeli military offensive and a halt to rocket attacks by Hamas," Ban told reporters after meeting with Egyptian President Hosni Mubarak.

"It is intolerable that civilians bear the brunt of this conflict," he said, adding that the "negotiations need to be intensified to provide arrangements and guarantees in order to sustain an endurable cease-fire and calm."

Late Tuesday, Ban flew from New York to Cairo, where Mubarak launched an initiative with France a week ago aimed at achieving a temporary halt to the fighting to be followed by a permanent cease-fire and arrangements on border security.

Hamas delegations have been shuttling between Gaza, Cairo and Syria and Aboul Gheit indicated that an agreement was near, without revealing any details.

"There is a Hamas proposition, we will discuss it with the Israelis," he told reporters. "We will keep it under a lid of secrecy until we reach a cease-fire agreement that is followed by several interrelated steps to reach a cease-fire, ensure withdrawal (of the Israelis), open the crossing and secure the return of the monitors."

Israel and Hamas do not meet face to face, relying instead on Egypt as the mediator.

The foreign minister added that he envisioned a return to the situation just before a truce, brokered by Egypt, between Hamas and Israel broke down in December. However, neither side was happy with the situation under the truce. Hamas was upset that Gaza was still under an intense blockade, and Israel was upset Hamas was still able to launch rockets into Israel.

After Egypt, Ban heads to Jordan, Israel, the Palestinian-controlled West Bank, Turkey, Lebanon, Syria and Kuwait. His itinerary does not include a stop in Gaza because of the ongoing conflict.

One possible solution to the crisis involves the use of Turkish troops as monitors, according to diplomats familiar with negotiations. Aboul Gheit did not reject the possibility outright during the press conference with Ban, but said it was "premature" until agreement from Hamas and the Palestinian Authority, which is in control of the West Bank and has been at odds with Hamas, had been reached.

Efforts of Arab countries to contain the crisis were riven, meanwhile, with their own divisions. Qatar on Wednesday managed to get enough Arab countries to agree on an emergency summit meeting in its capital of Doha for Friday.

Its efforts succeeded over the strong opposition of Egypt and Saudi Arabia who preferred a meeting a few days later in Kuwait on the sidelines of an economic summit.

Responding to a question about the tussle over competing summits, Aboul Gheit said: "Currently it reflects this division but if one summit is held, we will have, God willing, an Arab position that would ensure united Arab action."

Meanwhile in Syria, about 3,000 demonstrators marched to the U.N. offices in Damascus and handed over a letter addressed to Ban protesting the Gaza offensive. The crowd carried Palestinian flags and photos of dead Gaza children, and some protesters burned an Israeli flag.

Tuesday, January 13, 2009

Ukraine needs full Russia supply to transit gas-leader

KIEV, Jan 13 (Reuters) - Ukraine could reliably transit gas to Europe only once Russian supplies return to December levels, President Viktor Yushchenko said on Tuesday.

"Its very important to renew supplies on those routes as exitsed in December 2008. That would give us the opportunity to reorganise the Ukrainian system from suppliying our own regions to ensure suppluies to Europe," Yushchenko said.

ASSOCHAM backs Wipro

Industry chamber Assocham has termed the World Bank's ban on Wipro Technologies from doing business with the global lending

organisation as 'improper'
The World Bank on Monday disclosed that it had barred India's third largest software exporter in 2007 for four years for providing 'improper benefits to bank staff'.

The chamber has backed Wipro saying that it did nothing wrong in offering shares to the World Bank employees during its public issue in the US nine years ago. In a press statement, Assocham said, "There were hardly any corporate governance guidelines in 2000 that Wipro could have violated."

Infosys fails to lift markets; Sensex ends flat

Markets ended a choppy session flat Tuesday, as investors lacked conviction to take new long positions even as Infosys Technologies

posted better than expected third quarter results.

Equities opened lower but soon bounced back as investors bought IT shares. Wipro opened sharply lower but bounced back as traders bought at lower levels. Before trade started IT bellwether Infosys reported 14.5 per cent jump in Oct-Dec net profit at Rs 1,641 crore against Rs 1,432 crore for the September quarter. Income for the quarter ended December stood at Rs 5,786 crore versus Rs 5,418 crore in the immediately preceding quarter.

Later, markets turned volatile tracking Asian peers. Poor opening of European markets made matters worse and the benchmarks slipped deeper. But short covering towards end of session pulled back indices.

“Closing was pretty strong and upsurge in last half hour of trade indicates decent opening in coming session. Infosys results were better and things look good for the company,” said Sandeep Shenoy, head equities, PINC Research.

Bombay Stock Exchange’s Sensex closed at 9071.36, down 38.69 points or 0.42 per cent from Monday’s close. The index breached the 9000 mark to touch a low of 8992.92 and later a high of 9261.

National Stock Exchange’s Nifty ended at 2744.95, down 28.15 points or 1.02 per cent. The broader index touched an intra-day low of 2720.80 and high of 2802.60.

Market breadth was negative on the BSE with 1,562 declines and 848 advances. The BSE Midcap Index was down 1.43 per cent and BSE Smallcap Index fell 1.51 per cent.

Infosys Technologies (6.36%), Wipro (6.05%), Ranbaxy Laboratories (4.57%), Tata Power (3.40%) and ACC (2.47%) were the major Sensex gainers.

Reliance Communications (-6.59%), HDFC (-4.21%), Tata Motors (-4.11%), ONGC (-3.47%), Jaiprakash Associates (3.39%) and Hindalco (-3.09%) were the top Sensex losers.

Broader markets were hit more on fears of corporate governance issues at Siemens, Rolta India and Pyramid Saimira. Apart from these, ADAG group companies Reliance Capital, Reliance Communications, RNRL and Reliance Power also fell sharply.

Siemens took a severe hit after a couple of brokerages turned whistle-blower against the India-listed arm of the German engineering and technology major on its disclosure standards, once again raising the issue of corporate governance in Indian companies. The company’s share was hammered 11.69 per cent to Rs 211.10.

Software firm Rolta India Ltd fell nearly 60 per cent on speculation its creditors had sold shares pledged with them by the founders, but pared losses to 17.7 per cent at Rs 87.15 after the company denied the rumours and said all its business and operations were in order.

Promoter of Pyramid Saimira, P S Saminathan, sold nearly 6.04% stake for Rs 6.42 crore, reducing his holding in the media and entertainment firm to about 18%. After the off-market transaction, Saminathan's holding in Pyramid Saimira has come down to 17.99% from 24.03% earlier. In another disclosure to the bourse, Pyramid Saimira said another promoter Uma Saminathan had offloaded her entire 0.54% holding in the three months to December 2008 through off-market deals.

Last week, the company had said another promoter Nirmal Kotecha had sold nearly 10% in the company between November and December last year. The stake sale follows promoters’ seeking a CBI probe into alleged manipulation in the company's stock by its competitors. Pyramid Saimira shares fell 4.92 per cent to close at Rs 33.80 on the BSE.

European stocks were in the red following weak Asian markets and fears of disappointing earnings season. Shares of metals, energy and oil companies led the fall. US markets too are likely to open lower indicates stock futures. Dow Jones futures were down 0.73 per cent, S&P 500 futures fell 0.92 per cent and Nasdaq 100 futures slipped 1.04 per cent.

UP struggling in chase of Mumbai's 402

Having allowed Mumbai to amass 402 runs in their first innings, Uttar Pradesh lost early wickets to be left struggling at 91 for three at close on the second day of the Ranji Trophy cricket final hereon Tuesday.

Resuming at the overnight score of 297 for six, Mumbai capitalised on Uttar Pradesh's fielding lapses as they scored 105 more runs before the innings folded up and then pace spearhead Zaheer Khan sparkled with two wickets to put the opposition on the back foot.

Uttar Pradesh dropped as many as four catches and missed one stumping and two run-outs to allow Mumbai to gain the upper hand.

At close, Uttar Pradesh were trailing by 311 runs with seven wickets remaining in the five-day match being played at the Rajiv Gandhi International stadium at Uppal.

Opener Shivakant Shukla was batting on 46 and Parvinder Singh was yet to open his account.

UP team was reeling at 6 for two in less than three overs of the start of their innings with Zaheer removing opener Tushar Srivastava by getting him caught behind by Samant in the fourth ball of the third over.

UP received another jolt when next batsman in Suresh Raina was gone in a blink after facing just one ball. Raina was run out by Sairaj Bahutule on duck.

Tihar Jail is like a university campus: Akhil

Not many would describe Tihar Jail as a university campus but this is precisely how World Cup bronze medal winning boxers Akhil Kumar and Jitender Kumar felt when they visited one of Asia's biggest prisons on Tuesday as part of Tihar's Winter Olympics.

"It was not something new for me. My father was a jail warden and I have seen a jail before but being in Tihar was an altogether different experience. It didn't seem like being in a jail... I felt as though I was at a university hostel," Akhil said.

"We saw a volleyball match and it felt nice to be part of an initiative that would help these inmates become better persons," he said.

Jitender, who played for 10 minutes for the losing team, felt the same and said, "They didn't look like criminals. University lag rahi thi (it looked like a university campus). It was slightly uncomfortable being here initially but overall it turned out to be a good experience."

Akhil even addressed the inmates, who he said, asked him to win a gold medal the next time he represented India at an international tournament.

"The prisoners were well aware of who we are and some of them said I should get a gold medal in the next tournament I compete in," he laughed.

"It was quite an adventure," he quipped.

World markets sink on US earnings concerns

World markets sank on Tuesday amid ongoing fears about the financial health of leading U.S. businesses after aluminum company Alcoa Inc. kicked off the fourth quarter earnings season in disappointing fashion.

Alcoa reported after Wall Street closed Monday a quarterly loss of $1.19 billion. The bigger than expected loss came only days after the aluminum giant announced job and production cuts due to sinking prices and weaker demand.

In Europe, the FTSE 100 index of leading British shares was down 91.51 points, or 2.1 percent, at 4,334.68, even though shares of the country's biggest supermarket chain Tesco PLC rose more than 3 percent after it revealed in-line sales growth during the crucial Christmas trading period and indicated it would recruit some 10,000 people this year.

Meanwhile Germany's DAX fell 98.21 points, or 2.1 percent, to 4,621.41. Metro AG shares were down around 1.5 percent after the German retailer reported lower-than-expected sales and profits.

France's CAC-40 was 66.80 points, or 2.1 percent, lower at 3,179.32, with BNP Paribas SA down more than 5 percent amid reports the bank will not buy all of troubled Fortis's insurance operations. PSA Peugeot Citroen, France's biggest carmaker, fell 4 percent after it reported a near 9 percent fall in 2008 sales.

The losses in Europe followed equivalent retreats in the U.S. and Asia.

``Earnings and economic disappointments are the main contributors to the rise in risk aversion both of which are likely to act as a persistent drag on markets over coming weeks,'' said Mitul Kotecha, an analyst at Calyon Credit Agricole.

``The earnings season kicked off with disappointment from Alcoa after the company reported earnings that missed forecasts,'' he added.

Investors will have a raft of earnings to assess over the coming days and weeks as they assess whether the market is discounting the decline in profits correctly.

A key focus of attention in markets will be the passage of President-elect Barack Obama's fiscal package through Congress _ expected to amount to around $800 billion in tax cuts and increased government spending.

Stock markets around the world enjoyed a relatively strong rally at the start of 2009 but that came to an abrupt halt last week amid grim economic and corporate news from the U.S., most notably the rise in the unemployment rate to a 16-year high of 7.2 percent.

Earlier, most leading Asian markets retreated, with Japan's Nikkei 225 stock average tumbling 422.89 points, or 4.8 percent, to 8,413.91, as it caught up with Asia's losses on Monday after being closed for a holiday.

Hong Kong's Hang Seng index slid 2.2 percent to 13,668.05, Australia's index slipped 0.8 percent and Shanghai's market traded 2 percent lower amid news that China's trade slump worsened in December as exports fell at their fastest rate in a decade. South Korea bucked the trend with the Kospi up 1 percent to 1,167.71.

The losses around the world are expected to continue when Wall Street opens later.

The Dow Jones industrial average fell 125.21 points, or 1.5 percent, to end at 8,473.97. Broader stock indicators also declined, with the Standard & Poor's 500 index shedding 20.09, or 2.3 percent, to 870.26.

Futures pointed to a weaker open on Wall Street with Dow futures down 70 points, or 0.8 percent, to 8,374 and S&P 500 futures off 8 points, or 0.9 percent, at 860.10.

The dollar slipped 0.1 percent to 89.03 yen, while the euro was 0.5 percent weaker at $1.3292.

Light, sweet crude for February delivery was down 97 cents at $36.62 a barrel in electronic trading on the New York Mercantile Exchange on expectations crude demand will weaken amid a severe global economic slowdown. Crude prices have fallen more than 25 percent since reaching just above $50 a barrel last week.

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