Sensex dips on New Year day

Mumbai: The benchmark Sensex gave up initial gains in a lacklustre session on Wednesday following the absence of global triggers and ended with a 30-point loss, logging a drop on the opening trading day of the year for the first time since 2006.

Most global stock markets, including those in Asia, Europe and New York, are closed on Wednesday. Reliance Industries, TCS and Infosys shares were the biggest drag on the index, which received some support from Bharti Airtel.

Wipro and Tata Power fell. Three of the 12 BSE sectoral indices fell — IT, technology and oil & gas. The realty sector index notched up a huge jump while the others eked out minor gains.
The S&P BSE Sensex opened higher and climbed to 21,244.35. It traded in a 110-point range before ending at 21,140.48, a loss of 30.20 points or 0.14 per cent. It was the first drop for the index on day one of the year since January 2, 2006, when the Sensex fell 7.8 points.

The broader, 50-share CNX Nifty on the Nati-onal Stock Exchange (NSE) was down 2.35 points to 6,301.65.   

View the original article here

Centre to ease FDI rules to attract foreign money

New Delhi: Commerce and industry minister Anand Sharma on Wednesday indicated that the government will further liberalise the FDI policy in the new year.

“The bold decisions of the UPA government for liberalising foreign direct investment policy in key sectors such as civil aviation, retail and telecom have resonated with the global community and we have seen results in the last few months. The government will continue its endeavour for liberalising the FDI policy further in the coming weeks to ensure that India retains its leadership position for attra-cting foreign investments,” said the minister.

The ministry is now working to relax FDI norms in construction activities.

Sharma claimed that in 2013, India was rated as the most favoured investment destination globally.

Last year, the government has relaxed foreign direct investment (FDI) norms in several sectors such as telecom, defence, PSU oil refineries, commodity bourses, power exchanges and stock exchanges.

Sharma noted that coming months will see a greater push for development of industrial corridors across the country and work will commence for establishment of the first few cities along the Delhi-Mumbai Industrial Corridor.The minister said that  manufacturing seems to be on the mend and there is visible rebound in industrial activity. “The Indian economy has inherent strengths which give it resilience from external pressures and the series of steps taken by the government both on the fiscal and current acco-unt front have yielded positive results,” Mr Sharma said.

Railways to get FDI shot

New Delhi: The government is likely to allow foreign direct investment (FDI) in high speed trains and other projects, including development of rail lines between project sites and existing network.

“The commerce and industry ministry has sent the Cabinet note on the matter and a decision is likely to be taken this this month only,” a government official said.

Besides, proposing 100 per cent FDI through automatic route in the cash-starved railway sector, the Department of Industrial Policy and Promotion (DIPP) has also proposed to de-license and de-reserve few areas of the sector.
However, FDI will not be allowed in train operations and safety.

At present, there is a complete ban on any kind of foreign direct investment (FDI) in the railways sector except mass rapid transport systems.

According to the proposal, foreign investment would also be allowed in “sub-urban corridor, high speed train systems and dedicated freight line projects implemented in PPP mode,” the official said. It has suggested widening the definition of ‘infrastructure’ by including railway line and railway sidings.

View the original article here

Hyundai integrating next-gen cars with Google Glass

Washington: South Korean carmaker Hyundai will be launching its new Genesis sedan integrate d with Google Glass, which will enable the users to control basic functions of their car straight from their headset.

Hyundai's next-generation vehicles will be able to connect to Google Glass using an app which will help users to find their vehicle, automatically start it, send addresses to its navigation system, and lock and unlock its doors, the Verge reports.

Hyundai will also use push notifications to alert Glass wearers when the vehicle is due for maintenance, the report added.

View the original article here

Hyundai sales up 2.58 pc in December

New Delhi: Hyundai Motor India Ltd today reported a 2.58 per cent increase in its total sales in December 2013 at 49,069 units as against 47,833 units in the same month of previous year. The company's domestic sales were up 6.24 per cent at 28,345 units during the month from 26,697 units in December 2012, Hyundai Motor India Ltd (HMIL) said in a statement.

Exports during the month were down 1.94 per cent to 20,724 units from 21,136 units in the same month previous year, it added. Commenting on the sales performance, HMIL Senior Vice-President, Sales and Marketing, Rakesh Srivastava, said: "Year 2013 was very challenging and rewarding...Manufacturing operated at 99 per cent capacity utilisation and had the fastest five million roll-out in India."

In 2014, Hyundai will launch many new products and new initiatives to build further on this positive momentum, he added. 

View the original article here

Ship involved in Antarctic rescue faces trouble

Canberra: An Australian icebreaker carrying 52 passengers who were retrieved from an icebound ship in the Antarctic was told to halt its journey home today after concerns that a Chinese vessel involved in the dramatic rescue may also become stuck in the heavy sea ice.

The icebreaker Aurora Australis had been slowly cracking through thick ice toward open water after a Chinese helicopter yesterday plucked the passengers from their stranded Russian research ship and carried them to the Aurora.

But this afternoon, the crew of a Chinese icebreaker that had provided the helicopter said they were worried about their own ship's ability to move through the ice.

The Aurora which was carrying the passengers to the Australian island state of Tasmania was told to stay in the area in case the Chinese icebreaker Snow Dragon needs help, according to the Australian Maritime Safety Authority's Rescue Coordination Centre, which oversaw the rescue.

The Snow Dragon, which is at the edge of the ice pack surrounding the Russian vessel, will attempt to push through the ice to open water early Saturday, when tidal conditions are most favourable.

The Aurora is waiting around 11 kilometres north of the Snow Dragon, said Lisa Martin, spokeswoman for the marine authority.

Authorities have not said what the next step would be if the Snow Dragon became stuck, but it is possible that the Aurora will utilise its icebreaking capabilities to assist the Chinese vessel.

The maritime authority said the decision to place the Aurora on standby was a precaution and noted there was no danger to anyone on board the Snow Dragon.

But it was yet another wrinkle in the highly complex rescue operation of those on board the Russian ship MV Akademik Shokalskiy, which got stuck in the ice on Christmas Eve.

A spot of clear weather yesterday finally allowed the multinational rescue operation after blinding snow, strong winds and thick sea ice forced rescuers to turn back time and again.

The twin-rotor helicopter, which is based on the Snow Dragon, took seven hours to carry the scientists and tourists in groups of 12 from the Russian ship to the Aurora.

Earlier, the passengers had linked arms and stomped out a landing site in the snow next to the Russian ship for the helicopter. 

Russian research ship MV Akademik Shokalskiy was in Antarctic ice, 1,500 nautical miles south of Hobart, Australia, since Christmas Eve. The Australian authorities expressed relief after 52 passengers were safely evacuated by helicopter the stranded ship. Seen here - Trapped passengers on the icebound Russian research ship are rescued by a Chinese helicopter. Officials tasked with freeing the scientific expedition on the Akademik Shokalskiy succeeded in flying them out on Thursday in an on-off rescue operation. Seen here - Passengers from the Russian ship MV Akademik Shokalskiy trapped in the ice 1,500 nautical miles south of Hobart, Australia, walk around the ice. A helicopter from Chinese icebreaker Xue Long used a makeshift landing pad next to the marooned ship and ferried the scientists, tourists and journalists to an Australian government supply vessel, the Aurora Australis after three icebreakers failed to reach the paralyzed vessel. Seen here - Passengers from the trapped Russian vessel are preparing to board the Chinese helicopter Xueying 12 in the Antarctic.But it emerged later on Thursday that the Chinese ship, which has not moved much for several days, may itself be trapped by thick ice.Australian Maritime Safety Authority said the Chinese ship would attempt to manoeuvre through the ice when tidal conditions are most suitable, adding there was no immediate danger to those onboard. Seen here - Ben Maddison and Ben Fisk from the Russian ship MV Akademik Shokalskiy work to place a wind indicator atop an ice feature near the trapped ship.The rescue mission has been beset by extreme conditions from the start, with the Xue Long and Aurora Australis both unable to break through the ice to free to stranded Russian ship, despite several attempts. Seen here - Russian ship MV Akademik Shokalskiy is trapped in thick Antarctic ice.Rain, snow and wind had also delayed the helicopter flights to the vessel ice-bound 100 nautical miles east of the French base Dumont d'Urville. Seen here - Passengers from the Russian ship MV Akademik Shokalskiy link arms and stamp out a helicopter landing site on the ice near the trapped ship'The protracted nature of operations in Antarctica and the difficulty of getting good weather windows, and getting the right ice conditions, really make life very difficult' said John Young, general manager of the AMSA. The Australian authorities have raised concern for the Chinese rescue vessel Xue Long caught in heavy ice. Passengers on the stranded Russia ship were transferred to the Aurora Australis, the Australian Antarctic Division's supply ship and had been heading slowly to Casey station. Seen here - People gather on the ice next the Russian ship MV Akademik Shokalskiy that is trapped in thick Antarctic ice.Passengers trapped for more than a week on the icebound Russian research ship MV Akademik Shokalskiy are rescued by a Chinese helicopter on Thursday.The first group of passengers who were aboard the trapped Russian ship MV Akademik Shokalskiy arrive at a safe surface off the Antarctic.The passengers were transferred, using the Chinese icebreaker Xue Long's helicopter, from the Russian ship to an ice floe near the Aurora Australis over four flights across about 14 nautical miles on Thursday.Barbara Tucker, a passenger aboard the stranded ship MV Akademik Shokalskiy, watches as an adelie penguin passes by, off east Antarctica, on December 29, 2013.Passengers on the Akademik Shokalskiy posing before the trapped ship in heavy sea ice.

View the original article here

TCS to set up world’s largest corporate learning centre in Kerala

TCS to set up world’s largest corporate learning centre in Thiruvananthapuram, Kerala.

New Delhi: Country’s largest software services firm Tata Consultancy Services (TCS) today said it will set up the world’s largest corporate learning and development centre in Thiruvananthapuram with a total capacity to train 50,000 professionals every year.

Prime Minister Manmohan Singh laid the foundation stone for the facility.

The learning facility will be built over an area of 6.1 million square feet and will have the capacity to train 15,000 professionals at one time and 50,000 professionals annually, TCS said in a statement.

Located on a 97-acre property in the Technopark area of the city, the campus will also have residential accommodation for professionals and faculty at the centre, it added.

"TCS has been present in Thiruvananthapuram since 1997 and since then it has been the hub of our global learning and development efforts," TCS Chief Executive Officer and Managing Director N Chandrasekaran said.

The TCS Learning Campus will be the new benchmark for corporate learning worldwide and this iconic facility will produce world class professionals to meet the future needs of the IT industry, he added.

The project will provide direct employment to over 2,000 skilled and unskilled local people for a period of 4 years.

An integral part of the project will be the skill development programmes run by TCS to upgrade the skills of local youth and facilitate opportunities to work in the construction project, through contractors.

TCS employs over 2,85,000 professionals worldwide and plans to hire 50,000 professionals in 2013-14. It spends over 15 million hours on learning and development programmes for its employees every year.

Over the last 5 years till date, the company has trained over 1.43 lakh IT professionals in India and abroad.

View the original article here

Police register FIR against 3-yr-old in Pakistan for 'attacking, robbing' man

Picture for representation only - AFP/File photo

Lahore: Police have registered an FIR against a three-year-old boy and his mother for allegedly attacking and looting a man in Multan district of Pakistan's Punjab province.

Mohammad Farooq said that Farrukh Bibi and her son Saud attacked him with a dagger and snatched his cell phone and Rs 22,000 in cash.

A case has been registered based on Farooq's complaint.

Farrukh Bibi, through her counsel, on Thursday filed a bail application informing the court that the FIR was fake as her son - Saud - was merely three years old.

"How a woman along with her three-year-old son could attack a man," her counsel argued in the sessions court (Multan). Police registered the case after the complainant bribed them, she alleged.

Additional District Sessions Judge Shahbaz Ali Paracha granted bail to her and ordered to expunge the name of the toddler from the case. He summoned the police officials concerned for January 16. 

View the original article here

Crime file: Aunt helps underage AP boy rape minor; minor raped, elders try to hide case and more

Aunt helps underage AP boy rape minor

Hyderabad: A minor girl was allegedly raped by her neighbour, who is also a minor, at Yalal in Ranga Reddy district.

The Yalal police booked a case against the minor boy for rape after the victims’ parents approached them. The incident came to light after the victim’s parents found that the girl was pregnant following a medical examination.

The incident occurred at Daulapur village of Yalal mandal.

According to the complainant, the accused had been raping the girl for the last few months after luring her with the help of his aunt.

“According to the victim, the accused boy’s aunt Bhimamma had helped him have sexual intercourse with the girl by locking both of them in a room. So a case has been booked against Bhimamma as well,” Tandur rural inspector Ravi said.

Police said the accused, who has passed Class X, had lured the girl few months ago and exploited her.

When the girl fell sick, her mother took her to a hospital, and found that she was four months pregnant.

Then, the parents approached police and lodged a complaint.

“Based on their complaint, we have booked a case against the accused for rape, and a section under protection of children from sexual offences act, 2012. We have started an investigation,” the inspector said, adding that arrest will soon be made.

Next: Minor raped, elders try to hide case

Trust, of late, has lost its meaning. The only mistake of the 23-year-old software engineer, who was kidnapped and raped in Hyderabad, was that she trusted the cab drivers to take her to her hostel. There is no answer to why India is increasingly becoming a rape capital and why women in metro cities don't feel safe-- whether in cabs, buses, autos or malls. The techie, who had moved to Hyderabad recently, was so terrified to report the gang-rape that she filed a police complaint saying she had escaped the rape bid when she was returning from a mall around 8.30 pm on Oct 18. But the incident came to light after the police arrested the cab drivers. Read full story here The drivers drove her for nearly four hours in Hyderabad on several stretches, including the Outer Ring Road, and raped her at an isolated area near the Open Mind Birla School, Tellapur. They later dropped her near her hostel at around 2.30am. Read full story here In another shocking incident in Hyderabad in September, a 20-year-old polytechnic student was allegedly kidnapped and raped by the college canteen owner for almost 17 months in Hyderabad. Accused Satya Prakash Singh, 34, a native of Bihar, runs the canteen at TRR College of Technology at Meerpet, allegedly drugged and raped the victim in his flat. Read full story hereAfter the horrendous Delhi bus gang-rape on Dec 16, 2012, and the consequent death penalty to culprits, it was felt that the city would be safer for women. It is only far from it. Over 1,121 rape cases were registered in Delhi alone from Jan-Aug this year, the highest in the last 13 years.A 14-year-old girl was raped by a minor boy at knife-point at Gokalpuri in Delhi in October. The boy took her to an isolated place near the Wazirabad flyover and raped her. Based on the complaint, the juvenile was arrested.A 25-year-old woman was drugged and then raped by four persons in the Welcome area of North-East Delhi in May. The victim, who had separated from her husband and living alone, came across one Yashdev while looking for a job. He, on the pretext of introducing her to prospective employers, took advantage of her along with his friends.In Sept, the sexual abuse of a 9-year-old girl at Sholavaram near Chennai shocked the state. Four youths entered the house at 4am, took the girl who was sleeping. They raped the girl in a hut and fled. Police arrested two people Mohan and Ram in this connection. A 22-year-old engineering student in Chennai committed suicide at Chengam, 180km from Chennai, after her cousin E Ezhilarasan, also a student, posted photos of her sexual abuse on the internet. He along with his friends had raped her intimidating her with threats to circulate the clip. A 22-year-old engineering student in Chennai committed suicide at Chengam, 180km from Chennai, after her cousin E Ezhilarasan, also a student, posted photos of her sexual abuse on the internet. He along with his friends had raped her intimidating her with threats to circulate the clip. In September, a court in Bangalore sentenced six persons to life term for gang-raping a law student on October 13 last year on Bangalore University's Jnanabharathi campus. The girl and her friend were sitting in a car when they were attacked by the eight-member gang.There is a concern that Bangalore, the IT capital, is turning into rape capital. On Oct 19, three bar girls were allegedly gang-raped by a group of eight men. In Mumbai, the gang-rape of a 22-year-old photo-journalist when she was on an assignment shocked the nation in September. The culprits raped her after bashing up her male friend at an abandoned mill close to the railway tracks in the Mahalaxmi area. The same month, Santacruz police in Mumbai registered three rape cases in three days. That included the arrest of a 37-year-old man for allegedly raping his four-year-old neighbour. The four-year-old victim was allegedly raped by her neighbour when her mother stepped out of her house to buy milk.On September 23, a woman, who was asleep while travelling in an autorickshaw in Mumbai, was allegedly abducted and taken to Sanjay Gandhi National Park and sexually assaulted by a group of unidentified men.

View the original article here

Transco in trouble, power bills may go up

Hyderabad: APTransco’s proposal to buy out three gas-based private power plants — Lanco, GVK Phase I and Spectrum Energy — is facing a political block. Instead of buying these plants for about Rs 300 crore, the power utility may have to pay Rs 1,500 crore to refurbish them.

Modernisation would increase the cost per mega-watt of power, which will ultimately be passed on to consumers. The three projects are already past their half life. APTransco has completely paid off the capital cost of the projects.

The Power Purchase Agreements of these three plants are nearing closure. APTransco has no mandate to extend the agreements. The agreement with GVK Phase I (216 MW) is ending in June 2015, Lanco (368 MW) in December 2015, and Spectrum (208 MW) in March 2016.

The life span of these plants is 35 years. On the date their respective agreements end, they would have completed 18 years of operation. Internally, the cost for Lanco has been worked out to be Rs 120 crore, GVK Rs 130 crore, and Spectrum Rs 82 crore.

While APTransco had worked out the cost for buying the three projects, which together generate about 800 MW, the power utility which is under pressure from various quarters has asked project managements to make renovation and modernisation proposals. A source in Spectrum Power confirmed that the company had received the RNM notice.

If the revised proposals are accepted, it would mean that APTransco will have to spend a huge amount on capital cost of the plants for 10 to 15 years. APTransco has already paid for these costs for 10 years.

For renovation, the entire plant needs to be re-structured as the old machines being used are of the 1970 vintage. While the cost of acquiring the three power plants as worked out by APTransco internally is to the tune of Rs 330 crore, the RNM proposals may be as high as Rs 400 crore to Rs 500 crore for each of the plants, totalling about Rs 1,500 crore.

In case of an extension, APTransco will have to bear the additional cost of modernised machinery and plant restructuring. There is the possibility that the RNM proposals can be turned down. But insiders say that if APTransco intended to buy over these plants, which are just through their half-life, it could have been done so by not asking for new proposals.

“It is not possible to modernise a plant unless it is completely modified. That means escalation of cost of each MW of power produced with the new machinery. However, since APTransco has the option to purchase the plants without asking for an RNM, there is no obligation to extend the term of agreement, the extension is being attempted under political pressure,” said a higly-placed source.

View the original article here

C K Birla steps down as chairman of Hindustan Motors

Kolkata: Two days after the company's AGM for the extended 18-month financial year, C K Birla on Monday stepped down as chairman of the ailing automobile company Hindustan Motors (HM) Ltd.

While Birla did not reply to reporters' queries after the company's AGM (annual general meeting), the company's Managing Director and CEO Uttam Bose said that it was becoming very difficult for the company to manage daily operations due to poor cash flow.

Monday's decision reflected Birla's thinking that his stepping down would pave the way for the entry of strategic investors and allow for greater flexibility during discussions, the company said in a statement.

Bose had said the company needed to restructure the business by demerging the Chennai and Uttarpara operations for which HM was seeking strategic investors for both the units.

During the 18-month period under review beginning April, 2012 and ending September 2013, HM incurred a loss of Rs 71.20 crore as compared to a loss of Rs 29.96 crore in FY2011-12.

The company's accumulated losses have exceeded its net worth at the completion of the extended financial year ended September 30, 2013.

Birla was appointed as chairman of HM in November 1997. Birla had also relinquished the post of directorship in the company. 

View the original article here

Business, a safe game for these women

Sorry, I could not read the content fromt this page.

View the original article here

Two blasts in two days hit Russian city of Volgograd ahead of Winter Olympics

Sorry, I could not read the content fromt this page.

View the original article here

Ramesh Chennithala joins Oommen Chandy cabinet

Thiruvananthapuram: Kerala Pradesh Congress Committee president Ramesh Chennithala today joined the UDF ministry headed by Oommen Chandy as part of a move to boost prospects of the coalition in the coming Lok Sabha polls by setting factional and equations correct.

In a limited cabinet expansion, Governor Nikhil Kumar administered oath of office and secrecy to 57-year-old Chennithala. He is tipped to get the Home portfolio in the ministry, replacing his party colleague Thiruvanchur Radhakrishnan, who has been retained in the cabinet.

Chief Minister Chandy, his cabinet colleagues, senior party functionaries, leaders of the UDF partners and deputy leader of opposition in the assembly Kodiyeri Balakrishnan were present at the function. A thinking has been strong in Congress in Kerala that induction of Chennithala will help Congress firm up its support base among the majority community in general and the Nair community in particular to which he belongs to.

Influential Nair outfit NSS had in the past had come down heavily on UDF alleging that the coalition leadership breached its poll-eve promise of giving Chennithala a "key position" in the cabinet, in which nominees from Christian and Muslim communities outnumber those from various Hindu sections.

The idea to rope in Chennithala, mooted by the party high command, was endorsed by the state unit yesterday after senior leader and Defence Minister A K Antony conveyed it at a leadership meeting attended by Chandy, Chennithala and others. Chennithala will continue as the KPCC chief till the organisational and a ministerial shuffle after the budget session of the state assembly, beginning on January 3, is concluded.

One of the longest serving KPCC Presidents reputed for organisational skills, Chennithala is becoming a Minister after a gap of nearly 27 years.

His first brief ministerial stint was in 1986 when his one-time mentor K Karunakaran made him Rural Development Minister bypassing many a senior, which became a turning point in his career. Since then, he rose to become national president of the Youth Congress being handpicked by late Rajiv Gandhi, which helped him to strike strong bonds with the high command on account of his unflinching loyalty to the Gandhi-Nehru family.

In 1989, Chennithala resigned from the assembly to contest the Lok Sabha polls from Mavelikkara, which he won with a comfortable margin. After that he has a victory spree getting re-elected to the Lok Sabha in 1991, 1996 and 1999 and also served as AICC Secretary. He returned to the home state to head the party nine years ago and steered the UDF to victory. 

View the original article here

eBay likely to launch own virtual currency

Washington: Online commerce site eBay's PayPal has reportedly filed a patent application that hints to a possible launch of its own virtual currency.

The patent application proposes secure tokens that would let people buy products without creating a payment provider account.

According to Mashable, the patent filing states that the recipient can use the token to purchase a product using a checkout though the payment provider, but won't require creating the user's own payment provider account.

The application states that the tokens would be for giving gifts, but in theory, they could serve as a currency that can be used for purchases outside of eBay and PayPal and would be a competitor to Bitcoin, dogecoin and litecoin , among others.

PayPal president David Marcus said that he doesn't think the proposed token would be used as a currency yet because its pricing fluctuates too much for practical use. Washington, Jan. 3 (ANI): Online commerce site eBay's PayPal has reportedly filed a patent application that hints to a possible launch of its own virtual currency.

The patent application proposes secure tokens that would let people buy products without creating a payment provider account.

According to Mashable, the patent filing states that the recipient can use the token to purchase a product using a checkout though the payment provider, but won't require creating the user's own payment provider account.

The application states that the tokens would be for giving gifts, but in theory, they could serve as a currency that can be used for purchases outside of eBay and PayPal and would be a competitor to Bitcoin, dogecoin and litecoin , among others.

PayPal president David Marcus said that he doesn't think the proposed token would be used as a currency yet because its pricing fluctuates too much for practical use. 

View the original article here

Gold may not shine in 2014

Mumbai: Investment in gold in 2014 is not expected to fetch good returns as experts pointed out that the yellow metal globally has lost its appeal as a safe haven asset due to improvement in growth prospects in US and other developed economies.

According to them, global Exchange Trade Funds (ETF) have already liquidated their positions in gold and are now moving towards riskier assets like equities aiming higher returns. While a weak rupee is expected to stem a major downside for domestic gold prices, bullion experts believe that the possibility of a major upside is very limited in India.

“As of now the outlook remains negative. There is a higher probability of gold prices coming down as riskier assets have again started doing well. Investors could think of taking fresh exposure to gold when its prices come down to Rs 25,500 or Rs 26,000 per 10 gram in the domestic market,” said Naveen Mathur, associate director, commodities and currency, Angel Broking. 

Currently, the yellow metal in India is trading at around Rs 29,500 per 10 gram. In 2013, while the prices of gold crashed 28 to 29 per cent in the global market, the domestic prices dropped just eight to nine per cent following the sharp depreciation in the rupee. “This is not the right time to invest in gold as the yellow metal is still in a bearish phase,” observed C.P. Krishnan, whole time director, Geojit Comtrade.

However, Krishnan said that the prices of gold in the domestic market would largely depend on how the Indian rupee fluctuates in relation to the dollar.

According to Prithviraj Kothari, managing director of Riddisiddhi Bullion, gold prices in the domestic market are expected to move in a range of Rs 25,000 and Rs 33,000 per 10 grams with the average base price expected to be around Rs 28,000 per 10 grams.

However on a different note, Kothari said that investors looking at gold as an investment option should show a little amount of patience.

View the original article here

Investors get richer by Rs 1 trillion

Mumbai: Stock market investors became richer by over Rs 1 lakh crore in 2013, as a 9 per cent rally in the benchmark Sensex helped total valuation of all listed firms rise to Rs 70,44,431 crore at the end of a volatile year.

Those contributing the most to the stock market wealth includes Tata group firm TCS, the country’s most valued firm, as also entities like Infosys, Wipro, Tata Motors and Maruti.

In 2013, shares of TCS shot-up by over 71 per cent, while Infosys gained 51 per cent, Wipro (40 per cent), Tata Motors (20 per cent) and Maruti Suzuki (19.33 per cent).

This was the third consecutive year of rise in investor wealth, where Dalal Street investors became richer by Rs 1,22,616 crore to Rs 70,44,431 crore.

In 2013, the benchmark Sensex rose by 8.97 per cent and recorded a new intra-day high of 21,483.74 on December 9.

The 30-share gauge ended the year on a flat note at 21,170.68, up 27.67 points. The broader CNX Nifty of the National Stock Exchange also firmed up by 12.90 points or 0.21 per cent to end at 6,304.00. It has risen by 398.90 points or 6.76 per cent for the year 2013.

The rise in investor wealth was also due to continued rise in the number of listed firms. At present, the total number of listed companies stands at 5,295.

Market experts attributed rise in investor wealth to robust FII inflows and hopes of wider reforms after the 2014 Lok Sabha elections helped to overcome concerns over slowing economic growth and high inflation.

“This year turned out to be quite constructive for Indian equity. Markets made fresh life time highs on the back of improving domestic macros, supportive global equity and expected governance improvement in India after next general elections.

“Sensex crossed the level of 21,200 after a gap of almost six years. FII reaffirmed their commitment towards Indian equities with more than $20 billion invested in 2013,” said Varun Goel, Head PMS, Karvy Stock Broking.

IT, pharma, FMCG, auto and oil&gas sector registered sharp to moderate gains while realty, consumer durable, power, metal, capital goods and banking posted losses this year.  

View the original article here

Investment resolutions for New Year

A New Year is always welcomed in anticipation of good in one’s life. As financial matters are the most important factor for our happiness and peace of mind, let’s make five key resolutions to make ourselves financially secure in the New Year.

The New Year brings with it new beginnings and optimism. People like to usher in the New Year with resolutions that they eventually end up breaking. Many of these resolutions revolve around personal finance since financial well-being is an important aspect of life. Many people usually fail to maintain such New Year financial resolutions because they over-complicate their resolutions which makes it hard to keep them.

Before making your resolutions for 2014, the most important thing you should do is to review your financial status. Here is a quick check for making a simple and achievable New Year resolution for anyone irrespective of earnings and expenditure. Apart from improving the overall financial health, this can help you take smarter financial decisions in the long term.

Review investment portfolio
Reviewing one's investment portfolio by the end of the year is one of the best steps for taking a good investment related resolution. While reviewing the overall investment portfolio, one must ask some basic questions as to how risky the investment portfolio is and explore the adjustments where required.

If you are single and have started working only recently, you can afford a riskier portfolio compared to married people with families. One thing that is common while evaluating your personal investment portfolio for the year is to always maintain a balance between long term goals and any emergency requirements for a rainy day.

Pay off Debt
Paying off old debt is one of the best ways to usher in the New Year. Budgeting and paying off old debt might not be as difficult as it may appear and only requ-ire a principled approach. One can set up acco-unts to automatically ded-uct monthly ex-penses. Get out of the old debt trap to increase the chances of improving your financial health in the coming year.
The best approach is to start by paying off the debt with higher interest rates like credit card des and personal loans. If you have some surplus cash, you may also consider paying off loans as pre-payment instead of paying EMIs. The best way to resolve pending debts is to keep a lookout for better interest options in the market to reduce the total term of the home loan thereby saving on the interest cost.  You can use the additional pay outs you received this year like bonus, incentives, LTA etc for paying off unwanted debts.

Invest in an Emergency Fund
In this age of increasing inflation, sudden job loss or a sudden illness of any family members can damage your finances. Therefore, it is imperative to consider investing in an emergen-cy fund. Most financial ex-perts are of the view that such emerge-ncy funds which also known as contingency fund must hold finances that can sustain the dependant members of the family for a minimum period of six months.

If you have not given due though to have an active emergency fund, make plans to start it this New Year. Make regular investments in your emergency fund which can gradually help you a build a corpus that is liquid with the ability to earn handsome returns.

Protect family’s Financial Future:
Protecting your family’s financial future is an essential step that needs to be a part of each financial resolution. A lot of people explore life insurance but totally ignore medical insurance for dependants and immediate family members. If you are one of those who have neglected medical insurance of your dependants, plan for a good package by this New Year.
For people seeking life insurance as an investment, one needs to und-erstand that life insurance helps your dependants in case you are not around. Considering insurance purely as an investment vehicle is a bad financial decision that must be changed.

Improve Credit Scores
Another great New Year resolution is to improve your overall credit score (CIBIL). Many people are stuck with bad credit score due to their own financial mismanagement. Take a call before this New Year to cut out on unwanted credit cards and loans so that you do not end up spoiling your credit score in the coming year.

(The writer is CEO of BankBazaar.com)

View the original article here

Narendra Modi to address rally in Goa on Jan 12

Panaji: BJP's prime ministerial candidate Narendra Modi will address a rally here on January 12 which will set the tone for the party's campaigning for the Lok Sabha polls. Modi's rally on the outskirts of Panaji next week is expected to be attended by over a lakh people. Party president Rajnath Singh will also be present for the rally.

State Chief Minister Manohar Parrikar, who heads the organising committee for the public rally, told reporters today said this would be the only rally to be addressed by Modi in Goa in the run up to the Lok Sabha polls.

BJP has already informally announced the candidature of sitting MP Sripad Naik from North Goa seat and its state general secretary Narendra Sawaikar for South Goa. Parrikar said the formal announcement of candidates would be done only after party's parliamentary board clears the names.

The Chief Minister said the party leaders will be visiting households to invite people for the rally, while he himself will tour 16 constituencies. The party will collect Rs five each from those attending the rally. "When a person pays to attend the rally it indicates that he feels belongingness towards it," he said justifying the decision for a ticket to the event. The money collected would be used to meet the expenses for the rally, he said. Modi is likely to focus on the local issues in his speech. Parrikar said the party organisation will brief him about the issues, but "I am not aware about what Modi will speak."

This is the second public meeting that Modi will address in Goa. Soon after he was made the chairman of the BJP's election campaign committee during the national executive last year, Modi had addressed a public meeting at Taleigao near Panaji. 

From a tea vendor to BJP's prime ministerial candidate for 2014 general elections, the political journey of Gujarat chief minister Narendra Modi has been incredibly marked by more ups than downs. Photo shows Rajnath Singh hugging Modi after announcing the latter's name as BJP's PM candidate. Read here: Hinduvta poster boy catapults to national scene Despite strong opposition by party's senior leader L K Advani, who himself is a PM aspirant, the BJP on September 13, 2013 named Modi as its PM candidate for 2014 general elections. That is a testimony to the power Modi wields in his party. Picture shows Sushma Swaraj, Rajnath Singh and AZrun Jaitley joining hands with Modi after the PM candidature announcement. Born in September, 1950 at Vadnagar, a small town in Mehsana district of Gujarat, Modi was third child of six children. As a boy, he ran a tea shop with his brother at railway stations.Modi's political career began with the RSS for which he was the pracharak. After some training in Nagpur, he was given charge of Sangh's student wing, Akhil Bharatiya Vidyarthi Parishad in Gujarat.In 1987, Modi joined BJP, and as an effective organiser, he was instrumental in conceiving strategies that were key to BJP's victories in Gujarat. At this time, Shankarsinh Vaghela and Keshubhai Patel were established leaders of the party in the state.In 2001, Modi was chosen to replace then Gujarat CM Keshubhai Patel whose administration was failing. While some leaders were apprehensive about this move, he was sworn in as the Chief Minister of Gujarat.In 2002, violent riots erupted in Gujarat after some Muslims set fire to a train returning with Hindu pilgrims. Hindus went on rampage killing many Muslims. Modi's government was accused of not taking sufficient action to stop the riots.Modi resigned as Gujarat Chief Minister following protests, only to come back with a majority in the state assembly elections. He has served two full terms as the Chief Minister of Gujarat and has been elected for a third term in 2012. Modi's rule in Gujarat has seen BJP on war footing with the VHP and RSS. He dropped Hindu leaders like Praveen Togadia and Gordhan Zadaphia from the cabinet, razed 200 illegal temples and made many such decisions that were not consulted with the allies. Modi does not tolerate dissent whether it is within the party, the allies or the cabinet. He has pushed veteran party leaders from his stage. Read hereNarendra Modi is a crowd puller when he speaks. His 2006 speech on terrorism taunting Prime Minister Manmohan Singh is well known - Terrorism is worse than war. A terrorist has no rules. A terrorist decides when, how, where and whom to kill. At office, he is a workaholic and at home leads a frugal life living on a vegetarian diet. Modi was recently elected to the Parliamentary Board of BJP, the highest decision making authority of the party. With his elevation to the chairmanship of the party's election campaign committee, Modi is seen as the leader who will fight Rahul Gandhi of Congress in the 2014 elections. In July 2013, BJP president Rajnath Singh named Gujarat Chief Minister Narendra Modi as the chairman of the election campaign committee of the party paving way for him to become the Prime Ministerial candidate of the party.Modi supporters celebrate in Ahmedabad after his name was announced as the BJP's PM candidate on September 13, 2013.

View the original article here

Expensive luxury asset purchases of all time

Sorry, I could not read the content fromt this page.

View the original article here

Sending vulgar messages, pictures amounts to outraging modesty: HC

Chandigarh: Sending vulgar messages and posting objectionable photographs of young girls on internet tantamount to outraging modesty of woman, the Punjab and Haryana High Court has observed while denying anticipatory bail to an accused. It said such incidents have been "tremendously increasing day-by-day, ruining the social fabric of our society" and need "to be curbed with heavy hands".

The observation was made by Justice Mehinder Singh Sullar while hearing an anticipatory bail plea of Adarsh Singh who was booked by Amritsar police along with another co-accused on charges of outraging the modesty of a woman and other offences under the IPC and the Information Technology Act, 2000 on April 24 last year.

Rejecting the anticipatory bail plea of the accused, the Judge observed "the learned state counsel has also produced on record the copies of vulgar messages, notes, abuses and objectionable photographs. The abuses and messages etc which were sent by the accused to the complainant, are so vulgar, that it is very difficult to describe them in black and white and the same have been kept in a sealed cover".

There is prima facie sufficient evidence on record to support the allegations assigned to the accused, he noted.

The prosecution had claimed that the marriage of complainant was scheduled to be solemnised on November 28 last year. "The petitioner has sent very vulgar messages to her and her other relatives for the purpose of extortion.

He has blackmailed her by projecting and displaying her objectionable photographs on internet. The complainant did not delete and saved the messages in her mobile phone as a matter of proof," the Judge noted. The investigating officer obtained the details of messages and photographs of the complainant displayed on the internet and obtained arrest warrants against the petitioner.

"Perhaps, it cannot possibly be denied that, the tendency and frequency of sending such vulgar messages and projecting the objectionable photographs on internet of innocent young girls by such accused, have been tremendously increasing day-by-day, ruining the social fabric of our society, which needs to be curbed with heavy hands," the Judge said. The order came in December.

View the original article here

Crime file: 11 tribal girls in AP hostel allege sexual abuse by tutor; mentally-ill woman raped, murdered and more

11 tribal girls in AP hostel allege sexual abuse by tutor 

Hyderabad: Eleven minor tribal girls residing in a students' hostel run by an NGO in Nalgonda district of Andhra Pradesh, have alleged sexual assault by their tutor for the past five months, police said on Saturday.

According to Nalgonda Superintendent of Police T. Prabhakar Rao, a case wason Friday registered against accused R. Harish following a complaint by the victims.

Harish, who was appointed by the NGO management was also staying in the same hostel in Enemeedha Tanda under Tungaturthy Gram Panchayat, where the abuse happened. He allegedly threatened the girls and sexually abused them, a police official said.

As many as 78 students comprising boys and girls are staying in the hostel.

"Harish was on leave for three days last week, when girls came out and informed their kin about their trauma. We immediately swung into action and sent the girls for medical examination. All the children are below 13 years of age. We formed special teams to catch the accused," Rao told PTI.

However, sources in the department said that police have already nabbed Harish and are questioning him.

The couple - Srinivas and Sarita - who are running the NGO will also be questioned on any violations in running the hostel, the police official said. As of now, a case under relevant sections of protection of children from sexual assault besides cheating, has been registered, he added.

Meanwhile, a police official from Nalgonda district said that a case under Nirbhaya Act was being filed against the accused. A social organisation has also filed a complaint with the State Human Rights Commission demanding justice for victims.

Next: Polish woman alleges rape by cab driver in Delhi

1234567891011121314151617181920 Exactly a year ago, a 23-year-old physiotherapy student was gang raped on a moving bus in Delhi. That led to a national outrage with people questioning inefficiency of the government to provide security to women. There was such anger with protests across the nation that anyone would have thought it would be the last rape in the nation. That wasn't to be. Safety of women in the national capital was questioned, and in fact that was one of the reasons why chief minister Sheila Dikshit and the Congress suffered a humiliated defeat at the hands of political newcomer Arvind Kejriwal and his party Aam Aadmi Party. Political implications apart, the December 16 gang rape made headlines in international media, exposing how insecure women are in India. Despite the magnanimity of the most brutal rape of the country, very little has changed in one year.The conviction rate for rape is a mere 27 per cent which is why rapists aren't scared.The four accused in the December 16 rape case, gym instructor Vinay Sharma (20), bus cleaner Akshay Thakur (28), fruit-seller Pawan Gupta (19) and Mukesh Singh (26) were awarded death penalty as the court felt it was a rarest of rare cases. Main accused Ram Singh was found dead in jail while another is a minor.Notwithstanding pressure, the Central government in April amended the Anti-rape bill, which now provides life-term or death sentence for rape convicts. According to the new law, an offender can be sentenced to rigorous imprisonment that is not less than 20 years. The law also fixed age for consensual sex at 18 years. One thing that has changed is, none will take things lying down. But it doesn't mean that the incidents have gone down. Shockingly, a rape is reported every 20 minutes in India. A young girl's sexual harassment complaint resulted in the arrest of Tehelka editor Tarun Tejpal. The girl was bold enough to report against her boss, putting her career at stake. Neither death sentence nor new law has acted as a deterrent. The number of rape cases in Delhi have almost doubled. Till November this year, 1,450 cases of rape cases were registered against 706 in 2012. There is an element of positivity about it, as police say that more women are coming forward to report rapes. But as Indian women are known for, not all aren't comfortable reporting about rape.The only mistake of a 23-year-old software engineer, who was kidnapped and raped in a cab Hyderabad, was that she trusted the cab drivers to take her to her hostel. But she ended up being raped.Unlike the Tehelka journalist, this girl was scared to report it, she filed a false complaint that there was an attempt to rape her. But the incident came to light when the police arrested the cab drivers, who admitted to raping her.Rapes are tarnishing the image of the country as a whole. Internationally, India is perceived as the rape capital with governments of foreign countries warning women against travel to India.A photojournalist was gang raped when on duty in Mumbai. That wasn't the first time for the accused, who thought when others didn't complain why would she? Experts debate if raping is a psychological problem? Most of the rapists won't have any remorse or guilt feeling. In many cases, they deny the crime or feel what they did wasn't wrong.There is a need for a systemic social change and the solution doesn't lie in the law, but in changing the mindset of people.

View the original article here

Crime file: Youth rapes girl, uploads nude pictures on social media; pregnant minor girl raped by relative dies and more

Pregnant minor girl raped by relative dies 

Thane: A 15-year-old tribal girl, who became pregnant after allegedly being raped by a relative, died on way to hospital in Vikramgadh area of the district, police said on Friday. 

The girl, a resident of Naval Pada hamlet in Vikramgadh town, complained of severe pain in abdomen on Wednesday night following which her family admitted her to a local public health care centre, Vikramgadh assistant police inspector R.B. Mhamunkar said.

It was only after the girl experienced pain and confided in her grandmother about her condition that the family came to know that she had been raped by the relative. As her condition deteriorated, the girl was rushed to Wada rural hospital, but she died on way near Pali village in the wee hours on Thursday. 

According to a complaint lodged by the victim's father late last night, his nephew - Santosh S Dapchi (26) - repeatedly raped his daughter at their home when she was alone after he used to go for work to Uttan in Bhayander. 

Based on the complaint, Vikramgadh police have registered an offence under section 376 (rape) of the IPC and relevant sections of Protection of Children from Sexual Offences Act, 2012. No arrest has been made so far in this connection, police said, adding that they are likely to apprehend the accused today. The body has been sent for postmortem and further investigation was on. 

Next: Youth rapes girl, uploads nude pictures on social media 

1234567891011121314151617181920212223242526272829 Exactly a year ago, a 23-year-old physiotherapy student was gang raped on a moving bus in Delhi. That led to a national outrage with people questioning inefficiency of the government to provide security to women. There was such anger with protests across the nation that anyone would have thought it would be the last rape in the nation. That wasn't to be. Safety of women in the national capital was questioned, and in fact that was one of the reasons why chief minister Sheila Dikshit and the Congress suffered a humiliated defeat at the hands of political newcomer Arvind Kejriwal and his party Aam Aadmi Party. Political implications apart, the December 16 gang rape made headlines in international media, exposing how insecure women are in India. Despite the magnanimity of the most brutal rape of the country, very little has changed in one year.The conviction rate for rape is a mere 27 per cent which is why rapists aren't scared.The four accused in the December 16 rape case, gym instructor Vinay Sharma (20), bus cleaner Akshay Thakur (28), fruit-seller Pawan Gupta (19) and Mukesh Singh (26) were awarded death penalty as the court felt it was a rarest of rare cases. Main accused Ram Singh was found dead in jail while another is a minor.Notwithstanding pressure, the Central government in April amended the Anti-rape bill, which now provides life-term or death sentence for rape convicts. According to the new law, an offender can be sentenced to rigorous imprisonment that is not less than 20 years. The law also fixed age for consensual sex at 18 years. One thing that has changed is, none will take things lying down. But it doesn't mean that the incidents have gone down. Shockingly, a rape is reported every 20 minutes in India. A young girl's sexual harassment complaint resulted in the arrest of Tehelka editor Tarun Tejpal. The girl was bold enough to report against her boss, putting her career at stake. Neither death sentence nor new law has acted as a deterrent. The number of rape cases in Delhi have almost doubled. Till November this year, 1,450 cases of rape cases were registered against 706 in 2012. There is an element of positivity about it, as police say that more women are coming forward to report rapes. But as Indian women are known for, not all aren't comfortable reporting about rape.The only mistake of a 23-year-old software engineer, who was kidnapped and raped in a cab Hyderabad, was that she trusted the cab drivers to take her to her hostel. But she ended up being raped.Unlike the Tehelka journalist, this girl was scared to report it, she filed a false complaint that there was an attempt to rape her. But the incident came to light when the police arrested the cab drivers, who admitted to raping her.Rapes are tarnishing the image of the country as a whole. Internationally, India is perceived as the rape capital with governments of foreign countries warning women against travel to India.A photojournalist was gang raped when on duty in Mumbai. That wasn't the first time for the accused, who thought when others didn't complain why would she? Experts debate if raping is a psychological problem? Most of the rapists won't have any remorse or guilt feeling. In many cases, they deny the crime or feel what they did wasn't wrong.There is a need for a systemic social change and the solution doesn't lie in the law, but in changing the mindset of people.

View the original article here

Sensex, Nifty hit new highs in 2013; IT stocks outshine

Mumbai: After a gap of five years, benchmark stock indices Sensex and Nifty scaled new highs as robust FII inflows and hopes of wider reforms after the 2014 Lok Sabha elections helped to overcome concerns over slowing economic growth and high inflation.

Raghuram Rajan assuming the office of RBI Governor in September and a strong showing by the BJP in assembly elections also contributed to stock indices breaking their previous all-time highs.

If 2012 was a year that saw Indian bourses scripting a dramatic turnaround after the meltdown, 2013 was marked by consolidation in the first half and a new found optimism by market participants in the second half.

While markets succumbed to decade-low economic growth, inflation, high interest rates, a widening current account deficit and a weak rupee for most of the year, a slew of positive factors led to change in sentiment thereafter.

The Federal Reserve, which had hinted at trimming its monthly USD 85 billion stimulus back in May, finally announced a USD 10 billion cut, helping the markets stabilise as a keenly awaited event was over.

After vacillating in a tight range for a major part of the calendar year, the BSE Sensex recorded a new intra-day high of 21,483.74 on December 9. In 2013 so far, the 30-share index has risen by 1,653.03 points or 8.5 per cent, from the 2012 close of 19,426.71.

Last year, it gained 26 per cent. In 2013, best performing bluechips include TCS (up 68.41 pc), Infosys (53.22 pc), Wipro (39.20 pc), Dr Reddy's (37.21 pc), Maruti Suzuki (21.56 pc) and Tata Motors (19.41 pc).

However, Jindal Steel tumbled by 44.01 per cent, followed by L&T (33.89 pc), BHEL (27.52 pc), SBI (26.51 pc), Sun Pharma (21.31 pc), Coal India (19.94 pc) and Tata Power (17.90 pc).

The 50-issue CNX Nifty of the National Stock Exchange (NSE) also moved similarly to log a new intra-day high of 6,415.25 on December 20. It has gained 369.15 points, or 6.25 per cent, since its last year's close of 5,905.10.

In terms of market capitalisation, investor wealth rose by Rs 20,258 crore to around Rs 69.4 lakh crore across stocks. However, second-line stocks underperformed the benchmark indices as retail investors preferred to stay away.

The BSE-Smallcap and BSE-Midcap indices closed down by 14.92 per cent and 8.58 per cent, respectively.

IT, Pharma, FMCG, Auto and Oil&gas sector registered sharp to moderate gains while Realty, Consumer Durable, Power, Metal, Capital Goods and Banking posted losses. The key market driver Foreign Institutional Investors (FIIs) bought shares worth over Rs 1.1 lakh crore (nearly USD 20 billion) till December 19. Last year, overseas investors had pumped in Rs 1.28 lakh crore (USD 24.37 billion).

View the original article here

Russia under attack: Two blasts in two days

Photo for representational purpose only

Moscow: Ten people were killed today in a blast on a trolleybus in the southern Russian city of Volgograd, a day after a deadly suicide bombing at the city's main train station, officials said.

"According to initial information, 10 people were killed and 10 were wounded" in the explosion, the spokeswoman of the local branch of the emergencies ministry Irina Gogoleva told the Interfax news agency.

The United States and the United Nations have condemned the terrorist attack in Volgograd in Russia that killed at least 16 people. "The United States condemns in the strongest terms today's terrorist attack in Volgograd," the State Department spokesperson Jen Psaki said yesterday.

"We send our sincere condolences to the families of the victims and stand in solidarity with the Russian people against terrorism of any kind," she said in a statement.

According to news reports, at least 16 people were killed and dozens injured yesterday when a suicide bomber blew herself up in a train station in the Russian city of Volgograd ahead of February's Olympic Games in nearby Sochi.

At the United Nations headquarters in New York, the UN Secretary-General, Ban Ki-moon, condemns the terrorist attack. "He extends his deepest sympathies to the families of the victims as well as to the Government and people of the Russian Federation," said a UN statement.

"The Secretary-General calls for the perpetrators of his heinous act to be brought to justice. He stands in solidarity with the Russian Federation in the face of terrorism," it said.

In another statement, members of the UN Security Council condemned the strongest terrorist attack and called for bringing to justice, the perpetrators and sponsors of this reprehensible act of terrorism.

"The members of the Security Council reaffirmed that terrorism in all its forms and manifestations constitutes one of the most serious threats to international peace and security, and that any acts of terrorism are criminal and unjustifiable, regardless of their motivation, wherever, whenever and by whomsoever committed," the UN Security Council said.

View the original article here

FIPB clears Tesco, Vodafone investment proposals

New Delhi: UK-based Tesco Plc became the first global retailer to get approval to enter country's multi-brand retail sector from the Foreign Investment Promotion Board (FIPB) that also on Monday cleared Vodafone's Rs 10,141 crore plan to buy out minority shareholders in its India arm.

A decision on the proposal of HDFC Bank to increase Foreign Institutional Investor (FII) holding limit was, however, deferred, Finance Ministry sources said.

Tesco Plc's plans to initially invest USD 110 million in the multi-brand retail foray, including for the acquisition of 50 per cent stake in Tata group firm Trent Hypermarket Ltd.

As regards to Vodafone, the FIPB has given go ahead to the British telecom major to buy out minority shareholders like Ajay Piramal and Analjit Singh in its Indian arm at an estimated cost Rs 10,141 crore.

Piramal holds an 10.97 per cent stake in India's second-largest telecom company by subscribers, while Singh, who is Vodafone India's non-executive chairman, holds 24.65 per cent.

Vodafone Group Plc will pay Analjit Singh Rs 1,241 crore and Piramal Enterprises Rs 8,900 crore for their stakes in Vodafone India as part of a proposal. However, since the investment is of more than Rs 1,200 crore, the company's proposal also requires clearance from the Cabinet Committee on Economic Affairs (CCEA).

CGP India Investments Ltd, an indirect Mauritian subsidiary of Vodafone International Holdings BV, had sought FIPB approval to buy the stake held by minority shareholders in Vodafone India Ltd.

The FIPB has also approved foreign investment proposals of Johnson & Johnson. HDFC Bank's proposal, which was deferred, pertains to raising FII holding limit beyond the existing 49 per cent in the bank.

Next - Vodafone asked to reply on conciliation proposal by tom: FM

View the original article here

Intex launches Aqua i4+ smartphone for Rs 7,600

New Delhi: IT products maker Intex Technologies on Friday launched 'Aqua i4+' in its range of smartphones, priced at Rs 7,600. The 3G-enabled handset features a five-inch display and is powered by a 1.2 GHz dual core processor.

The dual-SIM device has a 512 MB RAM, 4 GB internal memory and 2,000 mAh battery. The Android 4.2.2 Jelly Bean phone also has a 8 megapixel rear camera and a 1.3 MP front camera.

"Intex Aqua i4+ is yet another endeavour from Intex to meet the expectations of today's consumer in terms of design and performance. With its impressive specifications and features, Aqua i4+ promises to be a smart and powerful smartphone capable of providing smooth user-experience," Intex Technologies Business Head (Mobile) Sanjay Kumar Kalirona said.

The phone will feature pre-installed instant messaging apps like WeChat and OLX along with 5 GB of free cloud storage through an Intex Cloud app. Available in Pearl Blue and Pearl White, Aqua i4+ will be available across 40,000 plus retail outlets, Inext Squares (exclusive retail stores), hypermarkets and e-commerce portals.

View the original article here

Crime file: IIT Kanpur student found dead; Six-year-old girl molested; Man slits friend’s throat and more

IIT Kanpur student found dead 

Kanpur: The body of a student of IIT Kanpur was found on railway tracks near the campus area here, police said on Thursday.

The body of G Sai Kumar Reddy (20), a resident of Prakasham district in Andhra Pradesh, was found along the Kanpur-Farrukhabad railway line yesterday morning, a police officer said. A probe is being conducted to ascertain whether it was a case of suicide or accident, the officer said.

As per the post-mortem report, the body was hit by a heavy object, due to which it is assumed that he might have been hit by the train accidentally, the officer said.

Reddy was a second year B Tech student pursuing Material Science and Metallurgical Engineering in the institute, student welfare Dean, IIT-Kanpur, Prof A K Ghosh said. Ruling out reports that he was depressed and may have committed suicide, Ghosh said he was an average student and was never involved in any conflicts with other students.

"We are investigating it. A four-member body has been formed by the institute, to look into the matter. It will submit a report within 7 days," he said. Parents of Reddy arrived at the institute today morning and have asked for the body of their son to perform the last rites at their native place, the police officer said. The institute expressed condolence on the sudden demise of the student.

Next: Six-year-old girl molested

123456789101112131415161718192021

View the original article here

Gold hits 4-month low; plunges below Rs 30,000

New Delhi: Gold prices dipped below Rs 30,000 per ten grams level for the first time in over four months in the national capital on Thursday on stockists selling against fall in demand at prevailing higher levels.

Gold dropped Rs 275 to Rs 29,900 per ten grams, the level last seen on August 14. However, silver added Rs 310 to Rs 44,000 per kg on increased offtake by industrial units and coin makers.

In Mumbai, gold of 99.9 and 99.5 per cent purity traded lower at Rs 29,940 and Rs 29,800 per ten grams, respectively, while silver enquired at Rs 44,440 per kg.

Traders said stockists selling against fall in demand at prevailing higher levels mainly pulled down gold prices. They said sentiment also turned bearish in the absence of any direction from overseas markets following closure for ‘Christmas’ and ‘New Year’ holidays.

In Delhi, gold of 99.9 and 99.5 per cent purity tumbled by Rs 275 each to Rs 29,900 and Rs 29,700 per ten grams, respectively. It had gained Rs 125 yesterday. Sovereign held steady at Rs 25,100 per piece of eight grams.

On the other hand, silver ready strengthened by Rs 310 to Rs 44,000 per kg and weekly-based delivery by Rs 130 to Rs 44,120 per kg. The white metal had gained Rs 140 in last trade. Silver coins, however, held steady at Rs 84,000 for buying and Rs 85,000 for selling of 100 pieces.

While in the world market Gold is headed for a near 30 percent drop this year as the United States Federal Reserve is set to begin unwinding its stimulus measures ending a 12-year rally.   

View the original article here

Kingfisher employees to go on hunger strike from Jan 6

New Delhi: Employees of Kingfisher Airlines who have not been paid salaries for the past 17 months today threatened to launch an indefinite hunger strike from Monday demanding stringent action against the defaulting company.

They also sought disqualification of corporate leaders from the membership of Parliament on charges of such default. "We are going on indefinite hunger strike from January six.

We have approached other political parties as well but as of now we have not got any satisfactory response from them.

We request you to support us in whatever ways possible," Anjan Kumar Deveshwar, a Kingfisher employees, said in a letter on behalf of the employees to Delhi minister and Aam Aadmi Party leader Manish Sisodia.

Alleging that Kingfisher kept paying its employees posted abroad due to the strict laws applicable there, they said, "Non payment of salary should be treated as a cognizable offence so that no one else has to suffer like us."

As of now there is no clear law to deal with non-payment of salary by the management, the staffers said in the letter. Besides non-payment of salaries, the Vijay Mallya-owned private carrier, which stopped operations in October 2012, has defaulted on payment of loans worth over Rs 7,200 crore, secured mainly from the public sector banks.

It also owes over Rs 390 crore to the Airports Authority of India, in addition to defaulting on service tax payment.

The Kingfisher employees also urged AAP to move the Supreme Court and use the Right to Information Act on the issue, saying "It is public money on which they thrive. Therefore, it is the right of public to ascertain that their hard earned money is not misused." 

View the original article here

TDP, YSRC Congress activists clash in Prakasam district; 10 injured

Picture for representational purpose only.

Hyderabad: Tension gripped Addanki town in Prakasam district today after TDP and YSR Congress activists clashed, leaving atleast 10 persons, including a police constable, injured.

"Three platoons of Quick Response Teams were rushed to the town after the incident and the situation is under control," Prakasam district Superintendent of Police P Pramod Kumar said, adding efforts were underway to nab those involved in the clash.

The trouble started after YSR Congress workers waived the party flag when TDP workers were coming in a procession in the town.

Workers from both the parties suddenly indulged in a verbal duel and tore apart flexi boards of respective parties, police said.

Subsequently, TDP workers allegedly pelted stones near the YSR Congress office, after which activists of both the parties began clashing, they said.

At least 10 persons from both the parties, including a constable, were injured during the clashes.

A large number of supporters from both the parties later held protests and counter protests and also blocked the Addanki-Narketpally road. Police intervened and dispersed the protesters. 

View the original article here

Bangalore second in demand for work

New Delhi: IT hub Bengaluru is expected to witness the second highest demand for office space in the Asia Pacific region during 2014 in a list topped by Tokyo, according to property consultant Cushman and Wakefield (C&W).

“Bengaluru is expected to see the second highest absorption in the APAC region and the highest demand in the country owing to expansion of the IT, ITeS and multi-national companies,” C&W said in a statement.

Tokyo is forecast to see the highest office absorption among the 30 cities in Asia in 2014 at 7.6 million sq ft, followed by Bengaluru at 2nd position and Manila at 3rd, with expected absorption of 6.3 million sq ft and 6 million sq ft, respectively, during 2014.

“The office demand is likely to reach 60 million sq ft in all 30 major cities tracked within Asia Pacific,” C&W said.

The National Capital Region (NCR) is projected to witness the sixth highest net absorption of offices space in the region, at 3.7 million sq ft representing a rise of approximately 10 per cent over 2013.

“The demand for commercial office space will str-engthen going forward in 2014 and 2015. The oversupply situation, which most cities across the country are witnessing, will ease from 2014 onwards as economic conditions improve dom-estically and globally,” C&W said.

View the original article here

Sky-high airport fees choking domestic aviation: IATA chief

Mumbai: Increasingly expensive airports and poor infrastructure are acting as deterrents to the growth of the civil aviation sector in the country, global airlines body IATA has said.

"India's airports are becoming increasingly expensive. We have seen a 346 per cent increase in charges at Delhi, 164 per cent increase in aeronautical charges in Mumbai, 219 per cent in Kolkata, and a 269 per cent hike in Chennai. These are huge increases," IATA director general and chief executive Tony Tyler told reporters at his Geneva headquarters recently.

"But we have had some victories. They have rolled back some charges in Delhi," the International Air Transport Association (IATA) chief said. 

Stating that the poor infrastructure and high taxes work as a deterrent to the development of the aviation sector, he said aviation is a huge economic enabler of growth.

"Look at Mumbai, which is probably the most important commercial centre of the country. Frankly, its airport is inadequate. We have been talking about the Navi Mumbai airport for years, but where is the progress on that?," he asked.

High taxes on the jet fuel, which goes up as high as 40 per cent in some states, coupled with higher airport charges in the form of user-development and airport development fees jack up air fares.

These have had a negative impact on the passenger demand in the country.

Pointing out that sectoral regulator Airports Economic Regulatory Authority (AERA) has been doing a good job, he said, "I think, within the scope of its authority, the AERA has been as tough as it could be. But the system of regulation leaves something to be desired."

He also flayed the government for taking away a larger revenue pie from private airport operators and blamed it as one of the reasons for higher airport charges.

"The share of the government revenue is ridiculously high. I discussed this with the regulator. You cannot blame the airports to make money when the government takes away 46 per cent from the GMR-run Delhi airport," he said.

The Delhi and Mumbai airports were handed over to GMR and GVK, respectively on a 30-year lease in 2006 with an option of extending it by another 30 years.

Under the privatisation agreement, the state-owned Airports Authority gets a revenue share of 45.99 per cent from Delhi and 38.7 per cent from the Mumbai operators on their gross revenue, even though the government agency owns only 26 per cent in these two airports.

Stating that it makes difficult for the private airport operators to generate a return for the investors, Tyler said, "So he is going to have to increase charges wherever he can and as result it is the end-user, the passenger, who pays for it."

However, he said the entry of new players into the aviation space- AirAsia, Singapre Airlines and Etihad- reflects the confidence of investors in the long-term growth of the aviation sector.

Tyler, however, said Singapore Airlines-Tata joint venture, which will cater to the full service space, may pose competition to the other two players in the segment-Air India and Jet in which the gulf carrier Etihad owns 24 per cent.

View the original article here

Best pictures of the year 2013 - Part 1

Sorry, I could not read the content fromt this page.

View the original article here

Daggubati couple may join BJP, says Venkaiah Naidu

Hyderabad: Significantly, there were speculations over an unnamed Union minister from the state who, according to veteran BJP leader M. Venkaiah Naidu, was willing to join the BJP.

The name of Union minister D. Purandeswari topped the guess list, given her husband Daggubati Venkateswara Rao’s brief stint in the party and continued relationship with the RSS.

“We thought it could be Purandeswari,” a senior BJP leader said, adding that the BJP was working hard to win the Visakhapatnam Lok Sabha seat because of its pan-India electorate which, according to the party, is swayed by the Modi wave.

The BJP, sources said, will press for the Guntur Lok Sabha seat in case the alliance with the Telugu Desam comes through. Noted industrialist Prabhakar Chowdary of Nuzividu Seeds is already tipped to be the party candidate from Guntur. He made elaborate arrangements in Guntur recently for the BJP-sponsored ‘Run for Unity’.

“It is doubtful if the TD will concede both the Guntur and Narasaraopet seats from where Sambasiva Rao is hoping to try his luck,” said a senior TD leader.

Rajagopal set his eyes on Eluru as the TD categorically made it clear that it will not forgo Vijayawada from where he has won twice.

Nani of Kesineni Private Travels is the strong contender for the Vijayawada Lok Sabha seat.

Rajahmundry Congress MP Vundavilli Arun Kumar may not hav a vacancy in the BJP because the TD will not lose the seat to the alliance. Actor Murali Mohan who narrowly lost to Arun Kumar is keen on winning this time.

View the original article here

Fox meat makes an ass of Wal-Mart's China donkey product

Beijing: Global retail giant Wal-Mart Stores has recalled a donkey meat product from some Chinese stores after tests found traces of other animals' DNA, the company said today, after authorities said it contained fox meat.

The world's largest retailer will reimburse customers who bought the "Five Spice Donkey Meat" 50 yuan (USD 8.25), a spokeswoman told AFP.

The company would also independently DNA test all of its "high risk" meats in China, a procedure which is not required by retailers under Chinese food laws, the spokeswoman said.

Wal-Mart would also cooperate with food officials in the eastern province of Shandong with their probe into the "adulteration incident", said a statement posted on Sina Weibo, a Chinese Twitter equivalent.

The Shandong Food and Drug Administration had previously said the "Five Spice Donkey Meat" product contained fox.

"We are deeply sorry for this whole affair," said Wal-Mart's China president and CEO Greg Foran according to the Weibo statement, posted yesterday.

It did not give an explanation for how the contamination happened, but Foran added that the company would increase its focus on "supplier management".

Donkey meat is not a Chinese staple meat dish, but is commonly consumed as a snack.

China has seen several food safety scares in recent years, including one in which the industrial chemical melamine was added to milk formula in 2008, killing at least six babies and making 300,000 ill.

Wal-Mart plans to open up to 110 new stores in China over the next two years, according to the company's website.

View the original article here

Pervez Musharraf says Pakistan army still backs him

Islamabad: Former military ruler Pervez Musharraf, hemmed in by legal woes, has dismissed the notion that Pakistan's powerful army has abandoned him, saying the 6.5 lakh force was still with him.

"I have led my men at Brigadier level and as Chief. Ask the 6.5 lakh personnel," Musharraf said when asked if the Army had abandoned him.

He said he had led the army as a leader and not the commander.

"The real leadership is without the stars on your soldier. Remove it and then see if your men actually listen to you," Musharraf said in an interview to ARY news channel aired last night.

He said the 6.5 lakh-strong Army had not abandoned him. This was the second interview Musharraf gave to the news network.

In an earlier interview the 70-year-old had sought "forgiveness" for any wrongs he may have committed during his nine-year rule and said he will face all cases against him and not run like a coward. Asked about the negotiations with the Taliban and other militant groups, he said he supported it but "talks should be held from a position of strength".

He said talks are been held from a position of weakness. Musharraf is set to appear before a Special Court on January 1 on treason charges.

The special court was set up by the Nawaz Sharif government to try the former military ruler for high treason for suspending the constitution in 2007.

The former president is charged with abrogating, subverting, suspending, holding in abeyance and attempting to conspire against the 1973 Constitution by declaring emergency and overthrowing the superior judiciary in November 2007.

On November 17, the government decided to initiate treason proceedings against Musharraf, who came to power in 1999 by toppling a government led by Sharif and ruled till 2008 when he was forced to resign after being threatened with impeachment.

He lived in self-exile for about five years and returned to Pakistan in March to contest elections but was hauled to court in different cases, including one over the 2007 assassination for former premier Benazir Bhutto. 

Musharraf has secured bail in four major cases against him but the trial for treason poses the biggest challenge to the former army commando.

This is the first time in Pakistan's history that a military ruler has been put on trial for treason.

If convicted, Musharraf could face life imprisonment or the death penalty.

The military, which has ruled Pakistan for more than half of its 66-year history, has not commented on Musharraf's case. A Pakistani court on Monday said it was unable to lift a travel ban on Musharraf, who wanted to go abroad to meet his ailing mother.

The government said it was willing to bring Musharraf's 95-year-old mother from Dubai in a special aircraft or an air ambulance as a humanitarian gesture so that the two could be reunited.

The government also offered to provide her medical treatment. But Musharraf rejected "with thanks" the government's offer, saying he had enough resources to bring her back.

View the original article here

Former First Lady Barbara Bush in hospital

Washington: Former First Lady Barbara Bush has been hospitalised in Texas for a "respiratory related," issue, a short statement has said. The office of former president George H W Bush said the 88-year-old was taken into hospital on Monday but was in "great spirits."

"Former First Lady Barbara Bush was admitted to Methodist Hospital in Houston's Texas Medical Center yesterday for treatment on a respiratory related issue," the statement said. "She is in great spirits, has already received visits from her husband and family, and is receiving fantastic care."

No further information was given but several US media reports said the former first lady was admitted after displaying symptoms of pneumonia. Bush was first lady from 1989 to 1993. She is also the mother of former president George W. Bush, who served between 2001-2009.

View the original article here

Meet Laxmicoin, the desi bitcoin

New Delhi: As regulatory glare intensifies on bitcoins due to possible money laundering, cyber security and other risks, over five dozen other virtual currencies have come under the scanner and include a desi version by name of ‘laxmicoin’.

The total value of these 67 digital currencies in circulation over internet has reached nearly $13 billion (over Rs 80,000 crore), out of which bitcoin alone accounts for over $ 9 billion, according to market estimates.

However, total value of bitcoin and other such virtual currency trades in India is estimated to be worth only a few crores as of now, although NRIs living abroad are expected to be dealing with bitcoins in a big way.

According to those dealing in bitcoins and other such currencies, RBI’s caution notice and action initiated by enforcement agencies in the country has been a major dampener and could come in way of launch of Indian versions of such currencies and that of exchanges providing trading platforms.
A number of bitcoin operators in India have begun suspending their business following RBI’s warning against use of such virtual currencies due to potential money laundering and cyber security risks.

Bitcoin is a virtual currency that can be generated through complex computer software systems with solutions shared on a network, although the process is complex and such ‘mining’ can be done only on very powerful servers.

Within four years of coming into existence, bitcoin has become the world's most expensive currency and its per unit value soared past $1,200 level or about Rs 63,000 recently, although the prices have now slipped below Rs 50,000-level.

There was a phenomenal surge in the exchange rate for bitcoin from little over $200 to well past $1,000 during November, but there has been an extreme volatility since then and the RBI’s warning has further added to its woes in India.

According to experts and regulatory officials, different virtual currencies continue to pop up almost everyday exposing users to unintended risks and also losses arising out of scams perpetrated by cyber criminals looking to make a quick buck.

While four-year old bitcoin shot to prominence with its per unit value soaring past $1,200 level recently, the heavy interest in such cryptocurrencies has led emergence of namesakes like Ripple, Litecoin, Mastercoin, Nxt, Dogecoin etc. There is laxmicoin, which its promoters term as India’s very own digital currency and claim it would be launched soon.

The proliferation of new currencies is being linked to the complexities involved in the way bitcoin is ‘mined’. The newer avataars are much easier to create, word-of-mouth publicity and a rush of speculation. 

View the original article here

Salman Khan, Katrina Kaif rule mobile search trends in Q4 2013

New Delhi: Bollywood stars Salman Khan and Katrina Kaif ruled mobile search trends in October-December quarter last year, mobile video and media company Vuclip said.

However, Aamir Khan-starer Dhoom 3 was the most searched term on mobiles in the last quarter of 2013.

"Dhoom 3, a Bollywood blockbuster movie topped the list, surpassing sensational superstars Katrina Kaif and Salman Khan," Vuclip said in a release.

Vuclip announced that it is experiencing a rapid global adoption and popularity in mobiles and expects to reach 100 million monthly unique mobile users globally soon.

"I expect 2014 to bring even more excitement and passion from consumers around the world for mobile video. We are already starting to see tremendous shifts in the Middle East and throughout Southeast Asia," Vuclip CEO Nickhil Jakatdar said.

2013 brought a major revolution in democratising access to mobile video for the masses. While, it used to be available to only the elite few with smartphones and on high-quality networks, now innovations in technology, as well as pricing have changed the game, he added.

Emerging markets like India are at the forefront of the mobile video revolution, Jakatdar said.

Vuclip also released the trends in 2013 in India with regards to mobile video.

Strong inclination for sharing mobile videos and a preference for long form content reign as the popular trends among Indians, it said.

Sixty five per cent of Indian respondents share mobile videos compared to 53 per cent globally, Vuclip said.

Indian youth under 18 years old fuel this phenomenon with a whopping 87 per cent saying they share mobile videos regularly.

Superhero movie trailers surfaced as the most often shared trailers in India with 36 per cent of vote, also hugely popular among the under-18 crowd.

All of the statistics in this report were gathered via a series of global survey conducted in 2013 and the respondents range in number from 14,000 to 120,000. 

The Google India Zeitgiest tracks the year's major events and trends based on Google searches conducted in the country. From the search trends perspective, 2013 was clearly the year of entertainment. Online shopping, banking and e-commerce also continued their upward trend- a clear testimony to Indians embracing online transactions. Among the 'News Events' category, BJP's prime ministerial candidate Narendra Modi emerges as the most searched leader. The entire news stream might have done a wide research about the future PM of India. Many praised him, at the same time many criticised him, still he becomes the 'newsmaker' of 2013. He tops the most searched politician list too.BlackBerry Ltd abandoned a plan to sell itself and instead went on to replace its chief executive officer and raised about $1 billion from institutional investors, including its largest shareholder. Shares of BlackBerry dropped 19 per cent to $6.33 in pre-market trading then. With this, BB enters as the second most searched 'News events' category list shocking the BB fans.Rahul Dravid has been the finest ambassador for India in the traditional form of the cricket. He started playing cricket at the age of 12, and was retired from Test and domestic cricket in 2012, and later from Twenty20 after playing the 2013 Champions League. His retirement news from all forms of cricket holds the third position in the most searched 'News events' category.The badminton player Saina Nehwal finds the fourth position in the most searched list of the 'News events' category. After lying low for the last two days, the Hyderabad girl came out well this year. Saina also reached her highest ranking of 2 this year. She played an aggressive game to reach Quarter Final of World Championships this year but failed to make her way ahead.Vijay Mallya, the owner of Kingfisher Airlines was issued summons by the Special Court for Economic Offences on an Income-Tax Department criminal case for not remitting to government the tax deducted at source from salaries of its employees. His firm now faces property seizure. This newsmaker thus holds the fifth position in the 'News events' category.The sensational Aarushi Talwar murder case received wide attention from media and it grabs the sixth slot in news events, according to Google. Dentist couple Rajesh and Nupur Talwar were awarded life imprisonment on Nov 26 by a CBI court for killing their teenaged daughter and domestic help Hemraj. The verdict came after five-and-a-half years and debate is still on whether they are the real culprits.The 14th Karnataka Assembly election brought back Congress to power after 9 years in the state with the party getting a landslide victory under Siddaramaiah’s leadership. This news event grabs the seventh slot.Congress won 122 seats which was 9 more than the majority mark. Inner party dispute inside the BJP has cost it dearly as the party managed to get only 40 seats in Karnataka.Air India is at the eighth position for trending in Google mostly for its financial cramps, the launch and grounding of the Dreamliner and its employee conflicts. Air India was all messed up in 2013 with a whopping Rs 46,655 crore loss in 2007-2013. In a bid to revive the airline, the government also proposed its privatisation.Air India also enjoyed attention for launching the swanky new Boeing 787 “Dreamliner” aircraft but the dream broke bizarrely when US regulator, Federal Aviation Administration, issued a global directive to ground all the 50 Dreamliners due to 'recurring technical snags'.Indian economy was jittery all through 2013, be it the swelling inflation, the scorching rupee or the credit policies of the Reserve Bank of India. It comes at 9th in the Google list. The roller coaster ride of the Mumbai Sensex kept Indian economy on the edge all through the year. The news of 'dude' Rahuram Rajan taking over as the new RBI chief and the surge in Sensex, Rupee after that were widely covered too.Ruling Political parties in various states have come up with the laptop distribution schemes. But UP CM Akhilesh Yadav hogged all the limelight for his laptop distribution scheme for girls to provide equal opportunity to students.Around 15 million girl students benefitted from the scheme. The laptops again came back to news as an effort to remove the in-built tamper-proof wallpaper of SP resulted in crashing the system.

View the original article here