TCS-huge margin to post a surprise growth in revenues

MUMBAI: Tata Consultancy Services (TCS) overcame a tough business environment and beat street expectations by a huge margin to post a surprise growth in revenues and net profit for the first quarter of the fiscal, but warned that it was too early to wish away the global recession and demand uncertainty.

India’s largest software exporter posted a 23% growth in net profit at Rs 1,520 crore, helped by lower costs and higher revenues from major markets, but said pricing will remain under pressure in the next one year. Revenues were up 12.4% to Rs 7,207 crore, as the US market showed signs of stability as did the troubled financial services sector. “It is a stellar quarter, made strong by operational execution. The global economy continues to be weak and job losses are happening all over. We are watchful of the situation and do not rule out more surprises,” said TCS managing director and chief executive S Ramadorai, reflecting the mixed trend.
The company said it would pay the variable component of employee salaries in full for the quarter, but would continue with the freeze on wage hikes for now. The company has performed better than its closest rival Infosys Technologies with a business volume growth of 3.6% during the quarter, compared with a 1.1% volume decline announced by Infosys. Pricing pressure, however, continues and the company said there was a 25 basis points decline in pricing during the quarter. “Pricing will not go up. We will be lucky if we maintain it,” said chief operating officer and CEO-designate N Chandrasekaran.



For further details visit as : economictimes.indiatimes.com/News/News-By-Company/Earnings/TCS-springs-a-nice-Q1-surprise/articleshow/4791548.cms

Sachin Tendulkar and Vinod Kambli are still the best of buddies

NAGPUR: Sachin Tendulkar and Vinod Kambli are still the best of buddies. Once Kambli made his position clear — following a recent controversy wherein it was alleged that he had made some poor remarks against his childhood friend in a television show —the issue died a natural death. While Kambli lost little time in denying statements attributed to him, Tendulkar, true to his self, remained calm. It was his way of suggesting that the issue was nothing but a ‘storm in the tea cup’. Having backed each other in their own ways through the turbulent time, both Tendulkar and Kambli will make an appearance together at a public felicitation function at the Vasantrao Deshpande Hall along with their coach Ramakant Achrekar here on Saturday. Their former Mumbai and India teammate, Sameer Dighe, will also be coming for the function. During the event, aptly titled, ‘Gaurav Guru Shishyancha’, (in honour of the coach and his pupil) both Tendulkar and Kambli would be feted along with their coach Ramakant Achrekar who would be presented with a purse of Rs. 5,00,000.

For further details visit as :timesofindia.indiatimes.com/articleshow/4791547.cms

Jakarta Hotel bomb attack-Seven foreigners were killed

JAKARTA, July 18 (Reuters) - Seven foreigners were among those killed in the bomb attacks on two luxury hotels in Indonesia's capital, the Jakarta Post newspaper reported on Saturday, citing a police official. Suicide bombers struck the JW Marriott hotel and close-by Ritz-Carlton, two luxury hotels popular with businessmen and diplomats, in Jakarta's main business district during breakfast. Police on Friday said eight people died, revising down an earlier count of nine, and over 60 were injured. On Saturday it seemed the toll had been raised again to nine, including two suicide bombers.

The blasts are a severe blow for Southeast Asia's biggest economy and for President Susilo Bambang Yudhoyono who was re-elected earlier this month in a landslide victory on the back of restoring peace and strong growth to a country with the world's largest Muslim population. Police won't be drawn on who may be responsible for the blasts, but suspicion has fallen on remnants of Jemaah Islamiah, the militant Islamist group responsible for a string of attacks in Indonesia in the first half of the decade. East Jakarta Police Chief Hasanudin told the English language Jakarta Post that forensic experts were identifying the bodies of seven foreign nationals.
"All were foreigners," Hasanudin told the Post, adding that all were male.Police have not released the names of any of the victims yet.Tim Mackay, chief executive of cement maker Holcim Indonesia and a New Zealand national, was one of several executives attending a CastleAsia Group breakfast at one of the hotels, and was killed in the blast, Holcim said on Friday.



For further details visit as : www.reuters.com/article/companyNews/idUSSP42362520090718

Queen and the Duke of Edinburgh are due to visit Lord's Cricket Ground

The Queen and the Duke of Edinburgh are due to visit Lord's Cricket Ground to watch part of the second Ashes Test match between England and Australia.

The game is into its second day and at the close of play on Thursday England had scored 364 runs for the loss of six wickets with captain Andrew Strauss hitting 161 not out.
The Royal visit comes the day after Andrew Flintoff announced he would retire from test cricket after the Ashes series.
The England all-rounder, who was the hero of England's victorious 2005 Ashes campaign has been plagued by injuries in recent years and will now concentrate on one-day cricket.
When the Queen and the Duke arrive at the cricket ground in central London they will be met by Keith Bradshaw, secretary and chief executive of the Marylebone Cricket Club, who will introduce them to representatives from the Australian and British cricketing associations.
The Royal couple will then watch part of the match before walking on to the pitch to meet Australian captain Ricky Ponting's Australian team and management and Strauss's teammates.
Before leaving the Queen and the Duke will have lunch in the cricket ground's committee dining room.
She last attended a test match at Lord's in May 2007 when she watched part of the game between England and the West Indies.



Source : www.google.com/hostednews/ukpress/article/ALeqM5jj83c19p-yXP23RjBHplFTX0hs0A

Six people have been killed-Indonesian capital Jakarta Luxury hotels

At least six people have been killed in two separate explosions at luxury hotels in the Indonesian capital Jakarta, police say.The country's Metro TV reported that one blast hit the Ritz-Carlton and the other, the Marriott Hotel. Television footage showed the facade of one of the hotels had been torn off by the blast. The BBC's Karishma Vaswani, outside the Marriott, said ambulances are present and security is extremely tight. South Jakarta police Col Firman Bundi said four people who died were foreigners, reported AP.Map "There were explosions heard from two separate places, one the JW Marriott, the other in the Ritz Carlton," he said. "We are still trying to check because right now we are still helping the victims," he said. Myra Junor, who witnessed the blasts from a nearby building, told Reuters windows on the lower floors of the Ritz-Carlton had shattered. Ambulances are continuing to arrive on the scene and there is a heavy police presence, says our correspondent. The two hotels are in Jakarta's central business district. The explosions come two weeks after presidential elections in Indonesia.

For further details visit as : news.bbc.co.uk/2/hi/asia-pacific/8155084.stm

Health education committee result

Efforts to remake the American health care system took a major step forward in the Senate on Wednesday. The Health, Education, Labor and Pensions Committee completed work on its health overhaul bill, which it passed 13-10 on a party-line vote.

Also on Wednesday, Democrats in the House of Representatives pushed forward their version of health reform, holding the first hearing on the details of a plan that would spend $1 trillion over 10 years and cover 97 percent of citizens by 2015, according to a preliminary analysis by the Congressional Budget Office.
Meanwhile, President Obama's campaign organization released its first television ads to build support for the health overhaul.
The bill approved by the Senate HELP committee would cost $600 billion and provide subsidies to make it easier for many people to get health insurance. Individuals and families making up to four times the federal poverty level, or about $88,000 a year for a family four, would qualify.
"This bill, because of what we've done, we think is going to increase access," said Sen. Christopher Dodd (D-CT), who led nearly a month of hearings on the bill. "It's going to reduce costs to individuals, and it's going to improve the quality of health care in our country."



For further details visit as : www.npr.org/templates/story/story.php?storyId=106677783

Sri Lanka's last two wickets added

Sri Lanka's last two wickets added only 14 runs after lunch, as Pakistan limited their first-innings deficit to 150, after it had threatened to be much greater at the end of the first day. Angelo Mathews, who had a let-off on 4, made it count, making 27 and helping the lead touch 150 with a slog to midwicket off the persevering Saeed Ajmal, but fell off the next ball, getting a leading edge to a doosra as he looked for a single to keep the strike. It was Ajmal's fourth wicket, just reward for having bowled unchanged through the day.

Thilan Thushara had earlier fallen soon after the break, trapped in front by Abdur Rauf, as Pakistan continued their resurgence after lunch. They'd taken seven Sri Lankan wickets for 76 runs on the second day; now it was the turn of the batsmen to continue the good work done in the field.


Source : www.cricinfo.com/slvpak2009/content/story/414015.html

Indian markets have corrected 15% from the recent peak

MUMBAI: Equities continued to reel under selling pressure Monday led by losses in realty, metals and auto space. Heavy selling was seen in

midcap and smallcap space. Negative opening of European markets also hurt sentiments. Benchmark indices were below crucial technical supports indicating a further correction in coming days.
“The intermediate trend has turned very bearish after Nifty future closed below the psychological level of 4000. Markets are in a prolonged downtrend as this fall could lead us to 3720 in coming days. Monsoon concerns are also haunting the markets. Hence, markets are seeing a huge selling pressure build at higher level.
Indian markets have corrected 15% from the recent peak of 4693 upto today’s low of 3977 but Nifty has left a huge gap after the budget results on 18 June 09 at 3670 and we believe that during this fall the gap will be filled which is a very good sign for the market.
The technical oscillators are also suggesting that there could be another 7-10% fall from this point and this fall can be utilized as a buying opportunity from an investment perspective. Now the markets needs to consolidate at lower levels in the region of 3500-3700 and create a base before resuming the upside rally. Any sharp rise in the market should be used as an opportunity to exit or create fresh shorts. This trend will remain weak unless market trades below 4150-4250 and 14000-14300,” said Nirmal Bang report.


For further details visit as : economictimes.indiatimes.com/Market-Watch-Midcaps-underperforms-Sensex-Bajaj-Hindustan-Gammon-fall/articleshow/4772074.cms

Al Qaeda in retribution for a Chinese government

BEIJING, July 15 (Reuters) - China has warned its citizens in Algeria about possible attacks from al Qaeda in retribution for a Chinese government crackdown in the Muslim region of Xinjiang.

The Chinese embassy in Algeria on its web site urged all Chinese people and organisations to be more aware of safety precautions and to strengthen security measures "in consideration of the situation after the July 5 incident in Urumqi".
The warning came after London risk consultancy Stirling Assynt said in a report to clients that al Qaeda might target Chinese workers in northwest Africa, citing "chatter" after the July 5 ethnic riots in Urumqi, capital of Xinjiang.
"China has been reminding overseas Chinese to pay attention to their safety and enhance self protection ... China will take any necessary measure to protect the safety of Chinese organisations and citizens overseas," Foreign Ministry spokesman Qin Gang told reporters on Tuesday when asked to comment on the report.
Security is heavy in Uighur neighbourhoods of Urumqi and other cities in Xinjiang after ethnic riots killed 184 people and wounded more than 1,600. About 1,000 people have been detained. [ID:nPEK56356]
Two knife-wielding Uighurs were also shot dead by police this week when they attacked another Uighur.
Exiled Uighur organisations said they opposed all forms of violence and condemned the reported al Qaeda threat.
The Uyghur (also spelt Uighur) American Association and the World Uyghur Congress are "extremely disturbed by reports that the North African wing of Al Qaeda has threatened to attack Chinese workers in Africa in revenge for the deaths of Uyghurs in East Turkestan", the exiled groups said in an emailed statement.



For further details visit as : www.reuters.com/article/latestCrisis/idUSPEK193325

Indian army colonel and his driver were killed

An Indian army colonel and his driver were killed in a powerful landmine explosion in India's north-eastern state of Assam, officials said.

The army vehicle hit the landmine near the Balipara reserve forest in Sonitpur district, about 200km (124 miles) from Guwahati, a defence spokesman said. The area has been cordoned off and a search operation has been launched. Police have blamed the outlawed National Democratic Front of Bodoland (NDFB) for the attack. The NDFB is among a number of separatist groups fighting for an independent homeland for various ethnic minority groups in Assam.
"The explosion tore through the jeep savagely. The colonel and his driver died on the spot," a defence ministry spokesman in Calcutta told the BBC. Other vehicles in the convoy were safe as they stopped immediately after the blast, he said. The explosion occurred when the colonel was on his way to his base at Tenga valley in the neighbouring state of Arunachal Pradesh, bordering China.



For further details visit as : news.bbc.co.uk/2/hi/south_asia/8147150.stm

India's commitment to strengthening the Non-Alignment Movement (NAM)

Prime Minister Manmohan Singh on Monday underlined India's commitment to strengthening the Non-Alignment Movement (NAM) and its desire to build stronger ties with Paris.

The highlight of Manmohan Singh's trip will be his meeting on Wednesday with his Pakistani counterpart Yousaf Raza Gilani on the sidelines of the 15th NAM summit in Sharm el-Sheikh, Egypt.
The meeting, which will be preceded by talks between foreign secretaries of the two countries, will be watched closely as it could set the stage for the resumption of composite dialogue between the two neighbours.
Manmohan Singh will be the chief guest at the National Day celebrations in France on Tuesday.
"The invitation extended to me to participate as the chief guest at the National Day celebrations of France is an honour for the people of India," he said in a statement before departing for Egypt and France.
Alluding to "a close and wide-ranging strategic partnership" between India and France, Manmohan Singh said: "We would like to build upon our partnership in the areas of trade and investment, high technology, space, nuclear energy, defence, education, culture, tourism and scientific research and development."




For further details visit as : www.hindustantimes.com/StoryPage/StoryPage.aspx?sectionName=Cricket&id=031f7df0-925b-4af3-8f83-e6065dda0985&Headline=India+committed+to+strengthening+NAM%2c+says+Manmohan

The number of policemen killed in an attack by suspected Maoist rebels

The number of policemen killed in an attack by suspected Maoist rebels in India's Chhattisgarh state has risen to 29, police say.

The attack took place in Rajnandgaon, 90km (56 miles) from capital Raipur.
Two officers were killed initially, and a larger force sent to the scene was then attacked, according to police reports
The district police chief was also killed in what is said to be one of the worst attacks by rebels in the state.
Maoist rebels are fighting for communist rule in a number of states. The conflict has killed more than 6,000 people in 20 years.
Convoy ambushed The first attack took place in Madanwada early Sunday morning in which two policemen were killed.
Superintendent of police for Rajnandgaon, Vinod Kumar Choubey, was killed when he was leading police reinforcements to the area, the deputy inspector general of police, Pawan Dev, said.
His convoy was ambushed between Khoregaon and Karkoti villages. Between 200 and 300 rebels attacked the police convoy.



For further details visit as : news.bbc.co.uk/2/hi/south_asia/8147097.stm

Gordon Brown will try to rally faltering public support

Gordon Brown will try to rally faltering public support for the war against the Taleban today, as ministers insist that sending more troops would not cut British casualties in Afghanistan.

The Prime Minister said yesterday that the offensive was gaining ground, despite the loss of eight soldiers in one 24-hour period last week. While the Government promised that money would be found for equipment, ministers denied that a lack of troops was behind the growing death toll.There are 9,000 servicemen in Afghanistan but that will drop to 8,300 after the presidential elections next month.
A senior government source said: “We are losing more men because we are taking the fight to the Taleban and more troops are being put in harm’s way. But it is just not true to say that fewer would be killed if more were there. The opposite could be true. Many of our men have been killed by roadside bombs. Having more there would not prevent that happening.”
General Lord Guthrie of Craigiebank, former Chief of the Defence Staff, has accused the Treasury of being unsympathetic to the war and called for more troops. His views echo those of General Sir Richard Dannatt, the outgoing Chief of the General Staff, who asked in March for at least 2,000 more troops. General Sir David Richards, who will succeed General Dannatt next month, is also in favour of sending reinforcements. However, the Ministry of Defence insisted that the brigade commander in Helmand had not requested more men.




For further details visit as : www.timesonline.co.uk/tol/news/uk/article6695598.ece

Bridge collapsed in south delhi-taking the issue in the lok sabha

New Delhi: In yet another accident at the Delhi Metro rail construction site in south Delhi at least three cranes trying to lift an iron girder came crashing down at the buildings and slum clusters nearby. Earlier on Sunday, at around 0500 hrs IST a Delhi Metro bridge collapsed at this site killing six and injuring 11.

Taking the issue in the Lok Sabha, Urban Development Minister S Jaipal Reddy called the accidents unfortunate and said that there won't be any compromise on the Delhi Metro project in view of the Commonwealth Games 2010.
After the Sunday accident, a panel was set up to probe into the matter. The panel constitutes of Prof Nagal from IIT, Prof BR Bose Delhi College of Engineering (DCE), Steve Lorie and Rajen Katharia from DMRC.
Reddy said that the panel will summit its report in another 10 days. "The report will be submitted in another 10 days i.e likely by July 22.



For further details visit as : ibnlive.in.com/news/delhi-metro-site-accident-minister-promises-action/97000-3.html

Taiwan and China could sign a free-trade style agreement

TAIPEI, July 13 (Reuters) - Taiwan and China could sign a free-trade style agreement later than expected, a top Taiwanese official for cross-strait affairs said. His comments prompted the island's stock market to drop sharply on Monday.

Taiwan's main TAIEX share index was down more than 3 percent by mid-morning after the head of Taiwan's Mainland Affairs Council Lai Shin-yuan said the two sides could sign an Economic Cooperation Framework Agreement next year.
This was later than some market expectations for significant progress on the issue later this year, which had helped boost China-related financial and tourism stocks earlier this year.
Lai told the Taiwanese community living in New York over the weekend that the agreement, known locally as the ECFA, would put Taiwan on equal standing with other economies that have already signed free-trade agreements with China.
Taiwan and China have been administered by separate governments since the Nationalists fled China in 1949 after they were defeated by the Communists.
China considers Taiwan to be part of its territory and has threatened to take it back, by force if necessary, should the latter declare independence.
However, relations have warmed considerably under the year-old administration of President Ma Ying-jeou, who was elected on a platform of closer economic ties with China.



For further details visit as : www.reuters.com/article/marketsNews/idUSTP34984320090713

LG-New range of Monitors launched in india

Bangalore: LG has launched its new range of monitors in India. This latest monitor allows upto 11 users to experience multi-user computing through one PC. These monitors are specially designed to offer low cost solution to the companies. The monitor aims to redistribute 90 percent of a PC's unused resources to other users.

LG Electronics is the world's second-biggest maker of televisions and third-biggest maker of mobile phones. By offering these monitors at Rs 11000, LG is revolutionizing the way resources are used amongst corporate. Usually less than 10 percent of power is used, these monitors will help in reducing the TCO up to 60 percent. These monitors will only take power of one watt per user. Consumers can also save up to 70 percent of maintenance cost. It will also help network on security issue as it enables the use of one main PC to remove virus in 10 network monitors. Companies will only have to make a onetime automatic upgrade which will cost around Rs.10,400 to Rs.11,800 to set up these monitors.
LG is among 100 global brands, and in 2006, LG recorded a brand growth of 14 percent. Now the world's largest plasma panel manufacturer, its affiliate, LG Display, is one of the largest manufacturers of liquid crystal displays. Nowadays multi-core computers are powerful enough to run more than one monitors. The revolutionary multi-computing solution from LG enables a single PC to be virtualized so that many users can tap the unused capacity and share it as if each person had an individual computer, without compromising performance, stability or speed. These multi-computing solutions include built-in keyboard, mouse, and audio connections. The monitors connect to a PCI card plugged into the host PC that creates multiple virtual workspaces in combination with NComputing vSpace desktop virtualization software.


Source : www.siliconindia.com/shownews/LG_launches_Network_Monitors_for_Rs11000-nid-59202.html

H1N1-Two More Swine flu are suspected

AHMEDABAD : Two more suspected cases of swine flu tested positive for H1N1 in Ahmedabad taking the total number of positive cases in

city to four. Earlier, two of a batch of ten city girls, who had gone on a yearlong Indo-US educational exchange programme landed in the isolation ward, after testing positive for swine flu. The suspected cases were confirmed after their samples sent for testing to the National Institute of Communicable Diseases (NICD) in New Delhi. One of them is a 45-year-old supervisor of the batch
Principal secretary, health and family welfare, Ravi Saxena said, "Results of one more girl isolated from the group and the caretaker isolated at civil hospital Ahmedabad, are both found positive by NICD."
The 10 girls, all aged between 15 and 16 years, were part of a group of 40 Indian students, who went to the US in August 2008 through an exchange programme facilitated by the All Friend's Society (AFS). AFS is a 60-year-old organisation. These students travelled by American Airlines reaching Delhi on July 4 and travelled back to Ahmedabad on July 7. They reported to a health facility on July 8 with symptoms of fever, cough and running nose.
All the girls had stayed in Delhi for three days and then gone back to their respective states. These students belong to Maharashtra (9), Gujarat (18), Karnataka (1), Tamil Nadu (7) and Delhi (5).


For further details visit as : timesofindia.indiatimes.com/Ahmedabad/2-more-swine-flu-cases-in-city/articleshow/4770190.cms

Bangladesh to the lead

KINGSTON, 12 JULY: It was a very tight session of play in Kingstown. Both teams fought hard and gave nothing away but didn't do enough to seize control of the game. Tamim Iqbal shared an 82-run opening partnership with Imrul Keyes to push Bangladesh to the lead but West Indies didn't allow them to get away at a frenetic, match-controlling, pace.

Perhaps, Bangladesh were worried about repeating their first-innings collapse and opted for the safety-first tactic. West Indies don't have the firepower to blow the opposition away on this slow track and chose to keep it tight with their disciplined line-and-length bowling.
Tamim was the more adventurous of the batsmen. He looked for his favourite off drives and didn't flinch from cutting if the ball was short. In the past, he has paid for his over aggression but today was careful not to cross that line. When Tino Best hurled sharp bouncers at him, Tamim swayed away calmly but when it was short and wide enough to cut, he went for it. He did have a couple of iffy moments, in the thirties, against Sammy when he edged couple of drives but got over that phase quickly. As the session neared the end, he seemed to falter in concentration again and tried to slog the offspinner Ryan Austin without much success.



For further details visit as : www.thestatesman.net/page.news.php?clid=5&theme=&usrsess=1&id=260695

Indian stock market status

Indian stock market started the day on a negative zone after a fall of 1.84% on the previous working day. The 30-share index, BSE Sensex opened with a loss of 98.27 points, at 13,405.95 on Monday.

In the previous day session, the Sensex ended with a loss of 253.24 points, or 1.84%, while the NSE Nifty declined by 77.05 points, or 1.89%.
Currently, the 30-share index Sensex is trading down 187.31 points, or 1.39%, at 13,316.91, after touching a high of 13,405.95 and a low of 13,316.91. Meanwhile the broad based Nifty is trading lower by 47.90 points, or 1.20%, at 3,956, after hitting a high of 4,003.40 and a low of 3,941.60. (09.59 a.m.)
Overall market breadth is sharply negative. Out of the total 1,098 stocks traded at BSE, 237 advanced, 838 declined while 23 remained unchanged.
Major gainers in the 30-share index were Infosys Technologies (2.58%), Wipro (2.38%), and Sterlite Industries (India) (2.29%).
On the other hand, Reliance Infrastructure (8.64%), Tata Steel (5.55%), Reliance Industries (5.53%), Reliance Capital (5.11%), Hindalco Industries (4.28%), and Bharat Heavy Electricals (3.43%) were the major losers in the Sensex.



For further details visit as : http://www.myiris.com/newsCentre/storyShownew_opt.php?fileR=20090713101428043&secID=fromnewsroom&secTitle=From%20the%20News%20Room&dir=2009/07/13

NTPC today signed a MoU 4000-Mw power project

The National Thermal Power Corporation (NTPC) today signed a Memorandum of Understanding (MoU) with the Chhattisgarh government to set up a 4000-Mw power project in the state.

The NTPC plant that will come up near Lara village in Raigarh district will have five units of 800 Mw each. This will be the first major power project, sources said.
The MoU between the NTPC and the state government was signed in the presence of Union Power Minister Sushilkumar Shinde and Chhattisgarh Chief Minister Raman Singh. The project cost has been estimated at Rs 20,000 crore.
Shinde said that the Lara plant of NTPC would not be Ultra Mega Power Project. But it would be producing 4000 Mw of power. The plant would be set up with super critical technology and hence would be environment friendly. The Union Power Minister said as per the condition put by the Chhattisgarh government, the NTPC would give 50 per cent power to the state.
“The state government had put the condition in return of the land and water it will give to the NTPC for the plant,” Shinde said. The Chairman-cum-Managing Director (CMD) of NTPC, R S Sharma said that the Lara power plant would be one of the best plants in the country with most modern technology. He said the construction work of plant would start soon and was scheduled to be completed during the 12th Plan. The beneficiaries of this project would be the states and union territories of the Western region.


Source : www.business-standard.com/india/news/chhattisgarh-signs-mountpc-for-4000-mw-power-project/363696/

MR.Pranab Mukherjee’s proposal in the annual budget

Petroleum minister Murli Deora on Sunday reiterated that the deregulation of fuel pricing will be done with a human face. He however, declined to specify any timeline for the deregulation of fuel pricing.

Deora’s statement comes close on the heels of the finance minister Pranab Mukherjee’s proposal in the annual budget to form an expert group to advice the government on a viable and sustainable system for pricing of petroleum products.
He was speaking to reporters here at the sidelines of International Dawoodi Bohra Trade Exhibition.
Deora recalled that the centre has already hiked the prices of petrol by Rs 4 per litre and Rs 2 per litre for diesel. However, he mentioned that the prices of LPG and kerosene remain untouched.
As a policy, petroleum prices are regulated by the government which results in huge subsidy burden on the government. While Deora tended to be soft on kerosene and LPG, he justified the recent increase in the prices of petrol and diesel arguing the oil companies fall under the Navaratna category and they cannot sell at a loss.
Deora said the finance minister has allocated Rs 30,000 crore towards subsidy burden for LPG and kerosene. He added that the centre has not hiked the kerosene prices in a decade.
He said the government has been making periodic changes in petrol and diesel prices depending upon international prices and “it is as good as deregulation”.

For further details visit as : www.financialexpress.com/news/deregulation-need-to-have-a-human-face/488462/

Urumqi, capital of the far-west Xinjiang region

URUMQI, China (Reuters) - The potential dark side of China's future was on show last week when crowds of Han Chinese, clutching clubs, axes and mobile phones, sought revenge after a rampage by minority Uighur Muslims.

The ethnic violence in Urumqi, capital of the far-west Xinjiang region, was also a product of the new China, with its increasingly mobile and sometimes assertive population.
Enmity between Uighurs and Han Chinese mixed with high-tech communications and sometimes fumbling state security to stoke the strife in Urumqi, which the government says killed 184 people.
There are many unanswered questions about the tumult that began with a student protest over Uighurs killed at a factory in far southern China. Not least, how many died in the subsequent violence by Uighurs and then rioting by Han Chinese residents.
But the mayhem has also highlighted how China's market economic transformation is changing society in ways the ruling Communist Party and its security forces may struggle to master.
"There are deep faultlines behind the veneer of stability in China," said Nicholas Bequelin, an Asia expert with Human Rights Watch who has long studied Xinjiang.



For further details visit as : www.reuters.com/article/newsOne/idUSTRE56C0P020090713

Sonia Sotomayor has decided advantages long legal career, a nationally televised

WASHINGTON (AP) — Sonia Sotomayor has decided advantages as she begins the most important trial of her long legal career, a nationally televised consideration of her nomination to be the first Hispanic and just the third woman on the Supreme Court.

Beginning Monday, she will tell her compelling up-from-poverty personal story to a jury tilted strongly in her favor — Democrats hold a comfortable majority on the Senate Judiciary Committee and a filibuster-resistant 60 votes in the Senate.
Still, Republicans signaled that they will press the 55-year-old New Yorker and veteran federal judge to explain past rulings involving discrimination complaints and gun rights, as well as comments that they say raise doubts about Sotomayor's ability to judge cases fairly.
The sharpest comments about her so far came Sunday from Sen. Jeff Sessions of Alabama, the senior Republican on the committee.
Sotomayor has said repeatedly in speeches over the past 10 years that personal experiences influence a judge's decisions, Sessions said.
"She has criticized the idea that a woman and a man would reach the same result. She expects them to reach different results. I think that's philosophically incompatible with the American system," Sessions said on CBS' "Face the Nation."
Her defenders have portrayed her as a meticulous judge who has strictly followed the law in her 17 years on the federal bench.


For further details visit as :www.google.com/hostednews/ap/article/ALeqM5huyApqmCqq9U5Hw9jP5IYR1gSQEwD99DB38O1

Japan's prime minister expected to call a general election Aug 30

TOKYO (Reuters) - Japan's embattled Prime Minister Taro Aso is expected to call a general election for August 30, a ruling party official told reporters on Monday.

Public broadcaster NHK said earlier Aso had reached agreement on the poll timing in a meeting with executives from the ruling Liberal Democratic Party (LDP). The LDP official said the lower house would be dissolved on July 21.
Some Japanese media questioned whether the election timing was a done deal, noting opposition to the move was strong inside both Aso's LDP and the junior party in the ruling coalition.
Moves within the LDP to dump Aso were expected to grow after the ruling party and its junior partner lost their majority in a Tokyo assembly vote on Sunday. The opposition Democratic Party won the most seats.
A Democratic Party victory in the national parliament's lower house would end half a century of nearly unbroken rule by the business-friendly LDP and raise the chance of resolving political deadlocks as Japan tries to recover from its worst recession since World War Two.
Aso told ruling party lawmakers on Sunday he planned to dissolve the lower house as early as Tuesday and was set to unveil that plan on Monday, Kyodo news agency had reported earlier.
Many in the LDP and its junior coalition partner, the New Komeito, are opposed to holding an election too soon after their defeat in the Tokyo poll, seen as a barometer for a national election due by October.
"It's clear if parliament is dissolved now, the result would be the same as the Tokyo election," the New Komeito's policy chief, Natsuo Yamaguchi, told a TV Asahi program.


For further details visit as : www.reuters.com/article/newsMaps/idUSTRE56B01A20090713

South korea's spy agency lowered reports

SEOUL, South Korea (AP) — South Korea's spy agency lowered the country's cyberattack alert Monday as affected Web sites returned to normal after suffering outages in a series of assaults that have cast suspicion on North Korea.

Dozens of South Korean and U.S. Web sites, including those of the White House and South Korea's presidential Blue House, were targeted in the so-called denial of service attacks, in which floods of computers try to connect to a single site at the same time to overwhelm the server.
But there have been no new Web attacks since the last wave launched Thursday evening. South Korea's National Intelligence Service said in a statement that it lowered the alert level because the attacks are fizzling out, but added it will keep a close watch for any signs of fresh assaults.
North Korea is suspected of involvement. The spy agency told lawmakers last week that a North Korean military research institute had been ordered to destroy the South's communications networks, local media reported.
The agency said in a statement Saturday that it has "various evidence" of North Korean involvement, but cautioned it has yet to reach a final conclusion.
South Korean media reported in May that North Korea was running an Internet warfare unit that tries to hack into U.S. and South Korean military networks to gather confidential information and disrupt service.


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Construction bridge collapsed leaving six persons dead-New delhi

New Delhi (PTI): Delhi Metro chief E Sreedharan on Monday inspected the site where an under-construction bridge collapsed leaving six persons dead even as clearing operations in the area were going on.

Mr. Sreedharan, who on Sunday resigned from the post owning moral responsibility for the mishap, visited the accident site to take stock of the situation. Delhi Chief Minister Sheila Dikshit has rejected his resignation.
Rains last night hampered clearing operations at the site where huge cranes are being used to clear the debris.
Water supply in neighbouring areas has been also disrupted as the pillar fell on a water pipeline.
Traffic continued to be disrupted in the busy Nehru Place area and police have advised people to avoid the Zamrudpur-Lady Shri Ram college route.
The accident took place on Sunday when a pillar of the bridge gave in during some construction work, leaving six persons dead.
DMRC set up a four-member committee to examine reasons for the accident and it would submit its report in 10 days.
Describing the accident as "more serious" than the one that happened in Laxmi Nagar last year, Mr. Sreedharan had announced his resignation, taking "full moral responsibility" for it.
However, after a high-level meeting to discuss the accident last night, Ms. Dikshit decided not to accept the resignation.


For further details visit as : www.hindu.com/thehindu/holnus/000200907130933.htm

Tamil Nadu Engineering Admission in the counselling process

CHENNAI: Two more engineering colleges have not received AICTE approval to enrol students into their academic programme for this academic year following which Tamil Nadu Engineering Admission (TNEA) has barred the colleges from participating in the counselling process.

All Indian Council of Technical Education (AICTE) has not given its approval to Shakthi Engineering College, Poonamallee and Udaiyappa College of Engineering, Periyakulam.
The former college offered four streams with 60 seats each (a total of 240 seats) and the latter offered six branches with 60 seats each (360 seats).
At the end of TNEA counselling on Sunday, 4,201 seats were available at Anna University
and 2,227 seats were available with Government and Governmentaided colleges. A total of 4,892 seats were taken up on Sunday.


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space-faring nations wary of India’s rapid advances in space technology

BANGALORE: After the successful launch of Chandrayaan-I in October 2008, India’s first moon mission, many space-faring nations have become wary of India’s rapid advances in space technology and have refused to share their knowledge, Indian Space Research Organisation (ISRO) chairman G. Madhavan Nair has said.
Speaking at the ninth convocation of the International Institute of Information Technology, Bangalore, (IIIT-B) here on Sunday, Dr. Nair said ISRO scientists and engineers worked in a “hostile environment,” with other countries sharing little information and expertise.
However, he claimed that ISRO engineers and scientists were overcoming challenges posed against Chandrayaan-II despite external limitations.
“Our scientists had to begin from the basics. Today we have data on the moon that no other country can boast of, and that too with minimum expenditure,” he said Dr. Nair also felt that space research in India required more manpower.
Although space research so far had progressed well, he said the need for roping in more youngsters had led to the setting up of the Indian Institute of Space Technology (IIST) at Thiruvananthapuram.


For further details visit as : www.hindu.com/2009/07/13/stories/2009071359010700.htm

England have an opportunity of the Ashes series

SYDNEY (AFP) — England have an opportunity to regroup for the rest of the Ashes series after they courageously held off Australia's bowlers for a tense draw in the first Test, according to Australia's media.
James Anderson and Monty Panesar staged one of cricket's great escapes as the last-wicket duo batted together for 40 minutes to deny Ashes holders Australia what seemed a certain victory on the final day in Cardiff on Sunday.
While England appeared doomed to go one down in the five-Test series, Paul Collingwood was the bedrock of the home team's fighting rearguard, defying the Australian bowlers for nearly five-and-three-quarter hours in his gutsy 74.
"I'm sure England coach Andy Flower will be very relieved to go to Lord's (second Test) with the series still level," former Test legspinner Stuart MacGill said on SBS TV.
"He's got a great chance now to pull the team together. They have an amazing opportunity to put things right and get England back on track."
Fellow SBS TV panellist and former Test allrounder Greg Matthews said Australia's batsmen and bowlers generally put in great performances in the Cardiff opener, but just couldn't get over the line.
"England were 5/70 after 26 overs. In the next 77 overs Australia took just four wickets," Matthews said.
"England got lucky today. They showed a lot of courage, but they got lucky.
"England will take some nice positive things out of today. They fought hard and dug themselves out of a hole, but they took six wickets."



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Rice trade price may drop of 2009

BANGKOK, July 13 (Reuters) - Global rice trade is likely to be thin in the second half of the year and prices could weaken since buyers expect supply to outpace demand as India resumes exports, a senior rice analyst said.

Samarendu Mohanty, head of the social sciences division at the Manila-based International Rice Research Institute (IRRI), said demand in 2009 as a whole would be much the same as last year but some big deals had already gone through.
"The Philippines is already out of the market as they've already procured what they wanted," he told Reuters.
He said some buyers had held back orders as the market realised there would be ample supply from India after it resumed exports following a hiatus of almost two years.
India banned rice export in late 2007 but has in recent months allowed the sale of non-basmati rice through specific traders.
Another factor would be how the Thai government decided to release rice from its stockpiles, Mohanty said, speaking ahead of a big rice convention in Thailand.


Source : in.reuters.com/article/domesticNews/idINBKK47806620090713

The shuttle launch was rescheduled for Monday at 6:51 pm

The US space agency plans to launch the space shuttle Endeavour after stormy weather forced the fourth postponement of its mission to the International Space Station.

"Looks like the team is ready but the weather is not. At this time we are no-go," the US space agency's launch director Pete Nickolenko said with the crew aboard and little more than 10 minutes to go before the planned takeoff on Sunday.
The shuttle launch was rescheduled for Monday at 6:51 pm (2251 GMT), Nickolenko said.
However, forecasters said the likelihood of favorable conditions was just 40 percent, far below the forecast leading up to Sunday's scrapped attempt when meteorologists predicted a 70 percent chance of good weather.
The cancellation was forced by a storm system that developed late afternoon near the launch site in Florida and gradually moved within 20 miles (32 kilometers) of launchpad 39A, where the Endeavour and its seven-astronaut crew were waiting to take off.
NASA officials waited until just minutes before liftoff to scrub the launch, hoping that a sea breeze might shift the weather system further afield, as has happened before.
But as the minutes ticked down, there were reports of lightning strikes within miles of the Kennedy Space Center, forcing the cancellation.
Lightning strikes were responsible for the third of four delays to Endeavour's mission to the International Space Station (ISS) to assemble the Japanese Kibo laboratory.
A Friday night storm produced at least 11 lightning strikes that hit the shuttle's pad, but did not damage the shuttle.
Takeoff had been delayed previously twice after the discovery of potentially hazardous fuel leaks, apparently caused by a misaligned plate linking a hydrogen gas vent line with the external fuel tank.



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