Social News Updates

Arokiaraj is new collector of Visakhapatnam

2013-09-05T02:03:00.005-07:00

DC | 05th Sep 2013

Solomon Arokiaraj.

Visakhapatnam: Solomon Arokiaraj has taken charge as the collector of Visakhapatnam district here on Wednesday. Interacting with mediapersons, Arokiaraj said he would focus on land issues. Earlier, he served as the sub-collector of Paderu.

This experience, he said, would help him serve tribal communities. Education, mother and child welfare will be other priorities, he said. The new collector said appropriate measures would be taken to resume land from grabbers.

He said he implemented Telugu as the official language for administration in 10 departments in Chittoor district and added that he would verify the situation in the district and take necessary steps to follow the rule here as well.

Additional joint collector Y. Narasimha Rao, chief executive officer of zilla parishad D. Venkat Reddy, DRDA project director Maheswar Reddy, Simhachalam temple executive officer K. Ramachandra Mohan and other officials formally greeted the newly-joined collector.

States: Andhra Pradesh

Geetika Sharma suicide case: Gopal Kanda gets interim bail to attend Assembly

2013-09-05T02:01:00.001-07:00

DC Online/ Agencies | 05th Sep 2013

New Delhi: In a relief to former Haryana minister Gopal Kanda, the Delhi High Court on Thursday granted him bail so that he could attend the Assembly Session which starts tomorrow. He is a sitting MLA from Sirsa.

Kanda is the prime accused in the suicide of Geetika Sharma, his employee.

Earlier, the court had quashed the charges of abetment of rape and unnatural sex against against MDLR airlines employee Aruna Chadha.

"It is apparent that the ASJ (additional sessions judge) unjustly admitted into evidence the confessional statement made by the petitioner (Chadha) and illegally put the burden to prove the same on the co-accused (Kanda) and the Petitioner which is not permissible.

"The ASJ fell into gross error in framing the charge under Sections 376/377 (rape and unnatural sex) against the co-accused GGK (Kanda) which cannot be sustained. Since no charge against co-accused under these Sections could have been framed, the Petitioner could not have been guilty of abetting these offences," Justice G.P. Mittal said.

The verdict, which came on the plea of Chadha, referred to her statement to police and held that except the disclosure statement, there was "not even a shred of evidence" to show that Kanda sexually exploited the victim and Chadha abetted in the commission of these offences.

"Apart from the supplementary disclosure statement of the Petitioner AC (Chadha) there is nothing to indicate that co-accused GGK (Kanda) had illicit relations with ‘X’ (victim) or that she had multiple pregnancies... "All the more, there is not even a shred of evidence to indicate that co-accused GGK committed sexual intercourse with deceased ‘X’ or had carnal intercourse against the order of nature with her or that the same was against her (the deceased) will or without her consent or that the Petitioner facilitated in any act of rape or unnatural offence alleged to have been committed by GGK," the court said. "...the petition is partly allowed to the extent that the framing of the charge for the offence punishable under Section 376/109 and Section 377/109 IPC is set aside," it said.

Meanwhile, the bench also allowed another plea of Delhi Police seeking to expunge the adverse remarks made by the lower court against the probe agency and the public prosecutor for not probing the sexual exploitation angle in the case.

The 23-year-old former air hostess, who was earlier employed with Kanda's MLDR Airlines, was found dead on August 5, last year at her Ashok Vihar residence in North West Delhi. In her August 4 suicide note, she had said she was ending her life due to 'harassment' by Kanda, 46, and Chadha, 40.

The lower court had on May 10 framed charges against Chadha and Kanda for various offences including abetment of suicide, criminal conspiracy and forgery under the IPC and the Information Technology Act for hacking computers and sending offensive or false messages. It had framed additional and fresh charges of rape and unnatural offence against Kanda and Chadha who was also booked for abetting the commission of these offences.

The High Court held the offences, including abetment of suicide, was made out against them, but there was no prima facie evidence indicating that they were also involved in the commission of rape and unnatural sex.

Sensex surges by 402 points during pre-noon trade

2013-09-05T01:00:00.002-07:00

Mumbai, Sep 5, 2013, (IANS):

A benchmark index of Indian equities markets Thursday surged by 401.53 points or 2.16 percent during pre-noon trade after the speech of the new Reserve Bank of India (RBI) governor Raghuram Rajan the previous day on potential measures injected hope among traders of more economic reforms.

The rally was led by banking index (bankex), consumer durables, fast moving consumer goods (FMCG), public sector undertakings (PSU), capital goods, oil and gas and auto sectors. However, selling pressure was observed in IT and technology, media and entertainment (TECK) sectors.

The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 18,857.60 points, was trading at 18,969.08 points in the pre-noon session, up 401.53 points or 2.16 percent from the previous day's close at 18,567.55 points.
The Sensex touched a high of 19,117.52 points and a low of 18,857.60 points during the trade so far.

The S&P BSE bankex surged by 681.73 points, consumer durables index augmented by 232.97 points, FMCG index gained 224.29 points, PSU index spiralled up by 134.86 points, capital goods index moved up by 173.69 points, oil and gas index increased by 149.48 points and auto index went up by 159.01 points.

However, IT index dipped by 186.37 points and TECK index went down by 68.21 points.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 129.10 points or 2.37 percent up at 5,577.20 points.

UN urges UK to allow press freedoms

2013-09-05T00:58:00.002-07:00

New York, Sept 5 : Two United Nations independent experts Wednesday called on the United Kingdom to ensure journalists can perform investigative work without fear of intimidation, and stressed that national security concerns do not justify curtailing press freedom.

"The protection of national security secrets must never be used as an excuse to intimidate the press into silence and backing off from its crucial work in the clarification of human rights violations," the Special Rapporteur on freedom of opinion and expression, Frank La Rue, said. "The press plays a central role in the clarification of human rights abuses."

La Rue and the Special Rapporteur on human rights and counter-terrorism, Ben Emmerson, requested further information from the UK on the recent detention of David Miranda, partner of Guardian journalist Glenn Greenwald, who has broken several stories on surveillance activities carried out by various Governments.

Miranda was detained at Heathrow Airport in London last month for nine hours under the UK Terrorism Act 2000, which gives police with the power to arrest and detain a person without charge for up to 48 hours if they are suspected of being a terrorist. British officials also destroyed computer hard drives at the Guardian newspaper."It is clear that the revelations on the extensive mass surveillance initiatives implemented by some Governments need to be widely debated," La Rue said. "The intimidation of journalists and newspapers questioning alleged abuses by intelligence bodies is certainly not a contribution to the open debate that needs to place."

Emmerson added that current assessments of the threat posed by terrorism in the UK have changed significantly over the past three years. "There should now be a debate on the extent to which the public in both States is prepared to tolerate official access to meta data," he stressed.

"The powers used in this case are currently under challenge in the European Court of Human Rights," Emmerson said. "I urge the British authorities to review their operations to ensure that they comply fully with the UK's obligations under the European Convention on Human Rights regarding the right to liberty and security, and the right to respect for private and family life."

La Rue expressed grave concern regarding the widespread use of mass surveillance in all regions of the world and its impact on human rights defenders and journalists' activities.

"National laws regulating communications surveillance are often inadequate or simply do not exist Wednesday," he said. "Privacy and freedom of expression are interdependent rights - without adequate protection to privacy, security and anonymity of communications, no one can be sure that his or her private communications are not under States' scrutiny."

--IBNS (Posted on 05-09-2013)

Russia accuses US of avoiding direct contacts over Syria

2013-09-05T00:57:00.002-07:00

Moscow, Sep 5 : Russian Foreign Ministry Wednesday accused the US of steadily avoiding direct contacts with Moscow over developments involving Syria.

"Commencing Saturday, Aug 31, the US State Department repeatedly requested phone call with (Russian foreign minister) Sergei Lavrov. Although we have constantly confirmed it, the US side every time informed us there was no possibility to get through to the secretary of state," ministry spokesperson Alexander Lukashevich said, Xinhua reported.

He added that Russian attempts to set up an exact time for a phone conversation with John Kerry have also been left unanswered.In a separate statement, the foreign ministry said that US intentions to carry out a military strike against Syria would contradict the core of international law.

"Response of the international community and separate states on chemical weapons use must fit the strict legal frames. Any reaction must be backed by the results of a thorough independent investigation," it said.

Moscow said if Damascus actually used chemical weapons, it could be qualified as violation of the international law.

--IANS (Posted on 05-09-2013)

Eight killed in Vietnam floods

2013-09-05T00:56:00.003-07:00

Hanoi, Sep 5 : Floods and landslides have killed at least eight people in Vietnam, officials said Thursday.

The Central Committee for Flood and Storm Control said one person died in Ha Giang province, three in Lai Chau and four in Lao Cai, Xinhua reported.

At least 14 people were injured and 10 others are still missing.Heavy rains also caused severe damage to houses and crops.

--IANS (Posted on 05-09-2013)

Chinese official jailed for smiling at accident

2013-09-05T00:56:00.001-07:00

Beijing, Sep 5 : A court in China Thursday sentenced a work safety official to 14 years in prison after he was filmed "smiling" at the scene of a fatal road accident.

Yang Dacai, former head of the Shaanxi provincial work safety administration department, was also found guilty of taking bribes and holding a large amount of property which he could not account for, Xinhua reported.

The court in Xi'an city also fined him 50,000 yuan (around $8,200).

--IANS (Posted on 05-09-2013)

Two teachers abducted in Philippines

2013-09-05T00:55:00.001-07:00

Manila, Sep 5 : Two male teachers have been abducted from a remote coastal village in the southern Philippine province of Isabela, police said Thursday.

The abducted teachers -- identified as Frederick Banot and Cherden Masong -- were employees of the Charity Children Foundation Inc. (CCFI), a non-governmental organisation in Basilan island, Xinhua reported.Heavily armed men attacked a staff house in Tairan village and seized the two teachers at gunpoint, police said.

The suspects dragged their captives to a boat, and sped towards an unknown direction in the darkness of the night.No one has claimed responsibility for the kidnapping.

--IANS (Posted on 05-09-2013)

Plane returns to Japan airport after engine trouble

2013-09-05T00:54:00.001-07:00

Tokyo, Sep 5 : A Japan Airlines flight made an emergency landing Thursday morning at the Fukuoka airport after the pilots reported engine trouble, a media report said.

The emergency landing took place around 9.20 a.m. after the flight crew reported that one of the engines on the Boeing 777 aircraft to Tokyo-Haneda airport had a problem after taking off, Xinhua reported citing Kyodo news agency.

The plane, carrying 252 passengers and crew members, had departed around 8.30 a.m.. No one was injured.

--IANS (Posted on 05-09-2013)

Toyota recalls 2,500 Lexus cars in Australia

2013-09-05T00:53:00.001-07:00

Sydney, Sep 5 : About 2,500 Toyota Lexus vehicles are being recalled across Australia due to glitches that could cause the cars to stop mid-journey, media reports said Thursday.The Japanese automaker is recalling about 370,000 vehicles worldwide, Xinhua reported.

In Australia, about 1,750 RX400Hs built between 2006 and 2008 are being recalled amid concerns that its hybrid system may overheat while driving, resulting in damages that may cause the vehicle to stop.Also, 750 Lexus IS350s built between April 2010 and July 2011 are involved in the recall due to concerns that bolts pinning a valve-control system inside the engine could come loose.

No accidents or injuries have been reported as a result of the problems.

Affected owners are being contacted and repairs will be done free of charge.

--IANS (Posted on 05-09-2013)

UP seer chops off genitals

2013-09-05T00:52:00.002-07:00

Lucknow, Sep 5 : A 60-year-old Hindu seer chopped off his genitals at Amethi in Uttar Pradesh, in an apparent protest against the alleged sexual assault on a girl by spiritual guru Asaram Bapu, police said Thursday.

Profusely bleeding Baba Premdas was late Wednesday admitted to a medical facility in Amethi, about 140 km from Lucknow, where his condition is said to be serious.The incident took place in Madhopur village, Amethi Superintendent of Police Alankrita Singh told IANS.

She did not say what was the reason behind the seer's action.
"There are many theories going around in the area. Some say this was to protest against what Asaram is alleged to have done while close associates said the seer was afraid he could be framed in a similar fashion," an investigating official said.

Doctors have referred the man to Sultanpur for plastic surgery.

--IANS (Posted on 05-09-2013)

Rajya Sabha adjourned over Vanzara letter

2013-09-05T00:51:00.001-07:00

New Delhi, Sep 5 : The Rajya Sabha was Thursday adjourned for 15 minutes after JD-U and SP members vociferously raised the issue of jailed Gujarat police official D.G. Vanzara's letter against Gujarat Chief Minister Narendra Modi.As soon as the house met at 11 a.m., Janata Dal-United (JD-U) and Samajwadi Party (SP) members raised the issue.

Unable to take up the scheduled business in the face of opposition protests, Rajya Sabha Deputy Chairman P.J. Kurien announced that the house be adjourned for 15 minutes.

Indian Police Services (IPS) officer D.G. Vanzara, charged and incarcerated in three staged gun battle cases, tendered his resignation Tuesday accusing the Gujarat chief minister of betraying him.Vanzara wrote a stinging letter accusing Modi and former Gujarat home minister Amit Shah of approving the killings of alleged terrorists in staged gun battles.

--IANS (Posted on 05-09-2013)

Minor rape victim ordered to wed accused's son

2013-09-05T00:50:00.003-07:00

Jaipur, Sep 5 : A caste council in Rajasthan has ordered the parents of a six-year-old rape victim to get her married to the eight-year-old son of the man accused of the rape, police said Thursday.

The incident occurred at Keshavpura in Kota, 250 km from Jaipur.

The 40-year-old man, identified as Kailash, raped the girl who lives in his neighbourhood about a fortnight ago, police said."Kailash locked her in a room and raped her. Instead of registering a police complaint, elders belonging to the girl's caste called a panchayat (village council) meeting," a police official said.

The panchayat ordered the girl's parents to get her married to Kailash's minor son.

However, the girl's parents as well as Kailash refused to accept the panchayat's decision.And even as negotiations were going on between the girls' parents and the accused, Kailash again raped the girl Wednesday, police said.Some social activists came to know about Wednesday's rape and brought the girl and her parents to Mahaveer Nagar police station in Kota and filed a complaint.

Kailash was arrested, and an investigation launched into the allegations against the panchayat members, said circle officer (city) Banwari Lal Meena.

--IANS (Posted on 05-09-2013)

IOC rejects IOA's clause, India's Olympic ban to continue

2013-09-05T00:49:00.000-07:00

New Delhi, Sep 5 : India will continue to remain out of the Olympic fold as the International Olympic Committee (IOC) has rejected the request of the suspended Indian Olympic Association (IOA) to allow charge-sheeted officials to continue in and run for office.

The IOC executive board met Wednesday in Buenos Aires and decided that the ban on IOA will continue if the apex body for sports in India doesn't change its constitution to keep out charge-sheeted individuals.

"The Excutive Board heard a report that the IOA's General Assembly had approved most of the amendments to the IOA's constitution requested by the IOC, but one specific clause had not been adopted. This clause, which deals specifically with the eligibility of members, is key to the good governance of the NOC and needs to be fully accepted before the suspended IOA can proceed with the elections. An official notification of the IOC's position will be sent to the IOA," the IOC said in a statement.

IOC is expected to send a notification to IOA soon on the matter to discuss the deadlock.

Since the suspension of the Indian Olympic Association (IOA) in December 2012, the IOC has been working towards finding a solution to improve good governance within the IOA.The IOC also provided the IOA with a roadmap and sent observers to the IOA's General Assembly (GA) that took place here Aug 25.

The IOA, during its Special General Meeting here, refused to incorporate the contentious IOC-proposed clause that would have barred charge-sheeted individuals from holding any post and suggested an alternative that would affect only convicted officials.

India was banned from the Olympics in December 2012 over the IOA's election process. Since then, the country's athletes have been barred from competing in international meets under the Indian flag.

--IANS (Posted on 05-09-2013)

Former Andhra minister returns to Congress fold

2013-09-05T00:47:00.005-07:00

Hyderabad, Sep 5 : Former Andhra Pradesh minister Konda Surekha, who recently quit the YSR Congress party to protest its u-turn over Telangana issue, Wednesday re-joined the Congress.

Surekha and her husband and former legislator Konda Murali joined the Congress party in New Delhi in the presence of party general secretary Digvijaya Singh and Andhra Pradesh Chief Minister N. Kiran Kumar Reddy.

Speaking on the occasion, Surekha said she was confident the Congress would carve out separate Telangana state.

K. Mahender Reddy, another YSR Congress leader, also joined the Congress party.

Surekha and her husband quit YSR Congress last month after all its 17 legislators resigned from the assembly to protest Congress party's decision to carve out Telangana state. They alleged that YSR Congress had gone back on its word to respect the sentiments of Telangana people.

Surekha had resigned from the cabinet after the Congress leadership refused to make Y.S. Jaganmohan Reddy the chief minister following the death of his father Y.S. Rajasekhara Reddy in a helicopter crash in 2009. She had also quit Congress to join the YSR Congress floated by Jaganmohan Reddy in 2010.

--IANS (Posted on 05-09-2013)

Autorickshaws remain off Hyderabad roads

2013-09-05T00:46:00.000-07:00

Hyderabad, Sep 5 : About one lakh autorickshaws and small goods carriers remained off the roads in the twin cities of Hyderabad and Secunderabad for the second day Thursday, severely inconveniencing commuters.

The Auto drivers' Joint Action Committee has called for the strike to demand scrapping of a government order under which the traffic police have hiked penalty for traffic violations from Rs.100 to Rs.1,000.The auto drivers' unions have made it clear that the strike would continue till the government withdraws the order. They also plan to lay siege to Transport Bhavan Friday to press for their demand.

The traffic police last month increased the minimum fine for jumping signal and other traffic violations to Rs.1,000.A few autorickshaws, which were plying despite the strike call, were exploiting the situation by charging double or triple the usual meter fare."After working hard for the whole day, we earn Rs.500 to Rs.600. How will we pay a fine of Rs.1,000," asked Arun Kumar, an autorickshaw driver.

The strike has hit hard passengers arriving at railway and bus stations. Not finding the three-wheelers after reaching railway and bus stations, many passengers were seen walking down the road carrying their luggage to reach nearby city bus stands.The office-goers and students were among the worst hit by the strike with even the city buses of Andhra Pradesh State Road Transport Corporation (APSRTC) and MMTS trains being overcrowded.

Those staying on the outskirts had a tough time reaching their destinations. They were seen waiting for hours to catch the buses or paid exorbitant fares to taxis, who are exploiting the situation.

--IANS (Posted on 05-09-2013)

New rule cuts gold availability

2013-09-04T23:22:00.004-07:00

By Rajesh Bhayani
Source :BUSINESS_STANDARD
Last Updated: Thu, Sep 05, 2013 02:20 hrs

An employee arranges gold jewellery in the counter as her arm is reflected in the mirror at a gold shop in Wuhan

With gold import norms further tightened after Tuesday's two-line clarification, it is estimated that barely 300 tonnes might be available over the next 12 months to the domestic jewellery trade.

The Reserve Bank of India (RBI) has said gold supplied to units in Special Economic Zones (SEZs) and export units and to star/premier trading houses will not be treated as gold supplied to exporters under the 80/20 scheme - the allowing of import with the condition that a fifth must be supplied to exporters.

Pankaj Parekh, vice-president of the Gem and Jewellery Export Promotion Council, said: "We expect exports could be 70-75 tonnes in the next 12 months, with the policy-related ambiguities getting clarified. This could make 280-300 tonnes available for the domestic market under the 80/20 policy."

With RBI's new clarification, exports might be higher but gold supplied to exporters from a Domestic Tariff Area (any place outside an SEZ or other units outside a Customs-bonded one), other than export zones and by export houses, will be considered as part of the 20 per cent policy. Such exports last year were estimated at 55 tonnes and this year could be higher, with improved demand.

RBI has plugged the loophole, said a jeweller. He said some traders had, to get a higher quota of import for use in the domestic market, been selling gold at a slight discount to the cost of imports. RBI has now said gold supplied to such units will not qualify for calculating the 20 per cent.

However, Parekh said smaller jewellers in export zones who generally do handcrafted exports will suffer as their requirement is smaller and no one would be ready to supply them.

On Wednesday, the Customs department clarified certain procedures under RBI's new gold import-export policy. Its notification says it has been empowered to allow more than one among the Nominated Agencies (for gold import) to keep their consignments in the same bonded warehouse.

One provision of the notification has raised another ambiguity. An exporter will have to show a proof of export, including proof of inward remittance. Since the latter takes 270 days, waiting till then will mean the next export will be delayed. Exporters want that a proof of export be enough.

An analyst working with a bank dealing in bullion import said these clarifications and the revised policy should curb round tripping and allow only genuine export. However, the shortage of gold for domestic use through official channels will mean more smuggling.

At the spot market here on Wednesday, gold prices fell by Rs 570 per 10g, to close at Rs 31,940 for 10g.

Advantage home buyers

2013-09-04T23:18:00.005-07:00

By Neha Pandey Deoras
Source :BUSINESS_STANDARD
Last Updated: Thu, Sep 05, 2013 02:27 hrs

Potential buyers of real estate are likely to feel a tad disappointed. With the Reserve Bank of India (RBI) red-flagging 20:80 home loan schemes, many would feel buying a property would become more difficult. After all, by just paying 20 or 25 per cent in an under-construction project, they were going to own a property in a few years. The bank paid the remaining 75-80 per cent to the builder. The best part: The builder was willing to pay the interest cost for a limited period.

For the builder, the scheme meant cheap money. After former RBI governor Y V Reddy barred banks from extending land loans, builders used such schemes to raise cash from potential buyers or even investors. This also helped them during the construction period, as home loans are cheaper at 10 per cent or even less. Many private sector banks were lending quite aggressively under such schemes. But much like the teaser loans, made famous by the State Bank of India, this scheme has now come under RBI's glare.

But buyers need not feel distressed because this guideline means more transparency and the property prices might actually start coming down. Says Adhil Shetty of BankBazaar.com: "The only disadvantage is that the interest cost borne by builders for a small period will be gone. But, the advantages outweigh the disadvantage. This move will help lower property prices as builders will be in need of cash," he says.

The RBI feels that if the builder were to default on their payments, buyers would be hurt, both in terms of credit rating and finances. "The bank will come after the borrower for payment. And if the borrower cannot pay up at that time, it will show on his/her credit score," says Harsh Roongta of Apnapaisa.com.

Besides the buyer angle, this move could put pressure on builders to get rid of inventories as well. According to a banker: "Many builders have been holding on to prices because after raising money through such schemes, they have used the money to build other projects. So even if they have not sold one project, they are not worried about prices."

When loans will be disbursed in line with the construction stage, the builder will be forced to adhere to deadlines to get more money. In addition, he will concentrate on fewer projects at one time.

According to Shobhit Agarwal, managing director – capital markets at Jones Lang LaSalle India, this move is aimed at protecting the interest of buyers not aware of the long-term financial implications of similar schemes. It is meant to advance greater transparency in the real estate sector.

Some bankers feel the possibility of project delays might increase because of the cash crunch and existing buyers may come under more pressure to pay even if the bank disburses. Some builders use such pressure tactics even now. However, this move will help buyers in the long run.

Manna from heaven for KSEB

2013-09-04T23:15:00.000-07:00

DC | R. Ayyappan | 3 min 58 sec ago

Thiruvananthapuram: Southwest monsoon has grown weary and consumption has shot back to drought levels but the total storage in the state's reservoirs is inching surely towards the record figure of 10,000 MU. As a consequence, a financially-distressed KSEB will be freed from its dependence on costly power for a long time to come.

As on September 3, five months after the rain year 2013-14 began on April, the cumulative inflow in all the state’s reservoirs is 6018 MU, and there are 270 days to go. Last year same time, the storage was a measly 2115 MU.

Even on September 3, 2007-08 - the best rain year in KSEB history - the storage was only 5432 MU. The rain year 2007-08 currently holds the record for the best total whole year inflow at 9742.75 MU. It is felt that 2013-14 will reach the storage figure of 10,000 MU with many days to spare.

The unprecedented inflow into dams has been aided by a surprisingly heavy monsoon. Since June 1, the state has received 1845.8 millimetres of rain, which is 40 percent more than normal. The rains were so bountiful that in August 1064 MU were generated, 85 percent more than what was originally estimated. “This clearly means that the Board need not have to resort to purchase from costly power sources,” said A.R. Satheesh, Carborundum Universal general manager.

Not a single unit of power, therefore, is being scheduled from costly diesel and thermal stations like RGCCP, Kayamkulam, Brahmapuram Diesel Power Plant and Karnataka Power Corporation Limited. These entities charge on an average RS 11 per unit. Excess generation has also allowed the Board sell power at high rates in open market. Over 1500 MU have been sold at over Rs 5 during August alone, fetching the Board a whopping RS 750 crore.

States: Kerala

MRVC to study suburban rail

2013-09-04T23:13:00.005-07:00

DC | Gilvester Assary | 11 min 56 sec ago

Thiruvananthapuram: Mumbai Railways Vikas Corporation (MRVC) will soon conduct a pre-feasibility study for the proposed suburban train services between Thiruvananthapuram and Chengannur.

A senior official of MRVC told DC from Mumbai: “We have received a request from the government of Kerala and the same would be placed before the Railway Board and Union Railway Ministry for approval once we get the formal GO. After pre-feasibility survey our team would be visiting the project area for a detailed engineering, technical and operational survey.

Once the feasibility study is over, we will get down to preparing a detailed project report.’’ When asked about the time frame for the feasibility study, he said the details were being worked out and the process would begin soon.

MRVC, which is a joint venture public sector undertaking of the Ministry of Railways and government of Maharashtra, has successfully implemented a number of urban transport projects, including Mumbai Urban Transport Project (MUTP).

The state government’s suburban rail service initiative has gained importance in view of the union government accepting in principle the demand to restrict the length of highways in the state to 30 metres. The proposed project is aimed at enhancing the suburban rail transportation capacity thereby reducing the overcrowding of highways.

Experts say the suburban railway project which is estimated to cost Rs 2,000 crore to Rs 2,500 crore was less costly and having wider coverage of passengers compared to Kochi Metro and Mono Rail projects in Thiruvananthapuram and Kozhikode.

The highlight of the project include induction of dual voltage 9 rake cars, resettlement and rehabilitation for people affected by the project, lengthening of the platforms, achieving three minutes headway on all lines and respacing of signalling system.

States: Kerala

Rupee climbs 138 paise against dollar on RBI steps

2013-09-04T23:11:00.003-07:00

PTI | 05th Sep 2013

Mumbai: The rupee on Thursday strengthened by hefty 138 paise to trade at 65.69 against the dollar at the Interbank Foreign Exchange market after fresh measures by the RBI to stem the currency's slide.

The rupee had settled at 67.07 against the dollar on Wednesday, up by 56 paise over the previous day's close.Traders said dollar selling by exporters and banks and fresh measures announced by new RBI Governor Raghuram Rajan to curb the rupee's slide helped domestic currency recover.

The dollar's weakness against other currencies overseass also supported the rupee's sentiment, they said. Meanwhile, stock markets were up by over 2 per cent in early trade.

The BSE benchmark index soared by 488 points to 19,055.74, while National Stock Exchange's Nifty rose by 153 points to 5,601.90 in opening trade.

The new RBI governor on Wednesday announced measures, such as liberalisation of the financial market by enhancing the limits for exporters to re-book cancelled forward exchange contracts and opening a special concessional window for swapping foreign currency non-resident (FCNR) deposits and dollar funds, to support the rupee.

RBI governor Raghuram Rajan effect: Rupee, Sensex up

2013-09-04T23:09:00.002-07:00

DC Online/ Reuters | 35 min 18 sec ago

The rupee and bonds rallied on Thursday as measures announced by the Reserve Bank of India (RBI) chief Raghuram Rajan late on Wednesday raised hopes of a new approach to the current crisis, while the move to start a discounted swap window for banks also aided.

The RBI will offer a swap window to banks for fresh dollar deposits mobilised from non-resident Indians, which will be available to lenders until November 30, 2013.

The partially convertible rupee was at 65.95 per dollar compared with its close of 67.06 on Wednesday.

The BSE Sensex rose more than 450 points and the Nifty gained over 150 points on Thursday as Rajan's comments on potential measures sparked hopes of more reforms aiding the economy and the currency.

Shortly after he took over as the 23rd Governor of the central bank, Rajan, 50, laid out a detailed roadmap on liberalising markets, including more rupee trade settlment and introduction of new financial products like interest rate swaps. He also rescheduled by a few days the date for his much- anticipated first monetary policy statement to September 20.

Rajan said the new bank licences will be issued around January next year.

In an apparent shift in the approach from his predecessor D. Subbarao, Rajan said the primary role of the bank is monetary stability to sustain confidence in the value of the rupee.

"Ultimately, this means low and stable expectations of inflation, whether that inflation stems from domestic sources or from changes in the value of the currency, from supply constraints or demand pressures. ...but we have two other important mandates; inclusive growth and development, as well as financial stability," he said.

The benchmark 10-year bond yield dropped as much as 22 basis points to 8.17 percent.

Blue chip shares, especially banks, jumped with NSE bank index surging as much as 9.4 percent after the new RBI governor announced a slew of measures to ease liquidity pressures on banks.

ICICI bank Ltd rose 7.76 per cent while Axis Bank Ltd rose nearly 10 per cent.

Other measures announced by Rajan include enhancing the re-booking limit on cancelled forward exchange contracts for exporters to 50 per cent, extending a similar facility to importers and introducing cash settlement in 10-year interest rate future contracts to develop the money and G-sec markets.

Rajan said the RBI will take steps to reduce the Statutory Liquidity Ratio (SLR) and introduce greater regulatory and supervisory control over the domestic operations of foreign banks. He promised to give freedom to banks to open branches without prior RBI permission.

The new RBI chief also said he will steadily liberalise the markets and lift restrictions on investment and position-taking, together with SEBI, and will examine introduction of interest rate futures on overnight interest rates.

Sania Mirza-Jie Zheng pair sails into semi-final of US Open

2013-09-04T23:07:00.000-07:00

PTI | 30 min 34 sec ago

Sania Mirza

New York: India's Sania Mirza and her Chinese partner Jie Zheng stormed into the semi-finals of the women's doubles with a straight sets victory over fourth seeds Su-Wei Hsieh and Shuai Peng here.

The 10th seeded Sania-Zheng pair had little trouble in defeating the current Wimbledon champions Su-Wei Hsieh of Taipei and Peng Shuai of China 6-4 7-6 in exactly an hour and 50 minutes to advance to the last four stage.

Sania and Zheng will meet eighth seeds -- Ashleigh Barty and Casey Dellacqua -- in the semi-final.

Sania and Zheng were quick to seize the initiative and a single break was enough to give them the opening set.

The second set went on serve before the Indo-Chinese combination secured a mini-break and held their serve thereafter to pocket the match.

For records, it will Sania's first semi-final appearance in the US Open and her fourth overall in a major tournament. The Indian tennis ace has now reached the last four stage in the women's doubles at all the four major tournaments.

Review: Samsung's Galaxy Gear blends style, tech wizardry

2013-09-04T23:05:00.003-07:00

AP | 19 min 18 sec ago

New Samsung Galaxy Gear in different colors are on display after the presentation in Berlin, Germany - AP

Suwon, South Korea: Samsung's Galaxy Gear, a new computing device worn like a wristwatch, is certain to pique much curiosity when it starts being worn in public. The intensely black rectangular screen and orange strap on the wrist of a Samsung executive immediately caught my eye as she entered a corporate meeting room to give a preview of the gadget.

Samsung will start shipping the $299 Gear smartwatch in September, ahead of a similar product expected from Apple. I had a chance to play with a pre-production unit for about 10 minutes and briefly with the version that Samsung announced on Wednesday in Berlin on the eve of the annual IFA consumer electronics show.

Like similar products already being sold, the Gear is not an independent device. For useful functionality, the Gear needs to be linked with a specific Samsung smartphone or tablet computer. The pairing is done wirelessly over a Bluetooth connection built in to both sides.

The Gear's display is a touch screen measuring 1.63 inches diagonally. Its strap has an embedded camera. The Gear supports apps such as Facebook and lets the wearer answer incoming calls or check email without picking up the smartphone that's paired with it. The Gear is not the smartwatch with a flexible display, as disclosed in recent Samsung patent filings.

With smartphones and tablets now ubiquitous, the technology industry is trying to create a new category of products to wow consumers. Many analysts believe the next big step for consumer electronics is advanced computing technology in everyday objects such as wristwatches and glasses.

Sony introduced its latest SmartWatch in June and unveiled an update Wednesday. Qualcomm announced a smartwatch on Wednesday as well. Google is working on Google Glass - a device designed to work like a smartphone and be worn like a pair of glasses. Apple is seeking an iWatch trademark and is widely believed to be developing a watch that uses the same iOS software as its iPhone and iPad devices.

Meanwhile, the response to projects such as Pebble, a smartwatch that received more than $10 million in investment pledges through funding website Kickstarter, also attests to the public interest in this trend.

It didn't take me long to see what Samsung is trying to achieve. It wants to attract not only tech addicts who must have the latest gadget but also young, design-conscious consumers. The Gear's design flair and ease of use are its sweetest attributes, but it may not entirely please either group. Although powered by the Android operating system, like many phones and tablets, it will work only with Samsung devices - and only with newer models.

At about twice the price of the Sony SmartWatch and the Pebble, the Gear boasts a camera, a speakerphone and plenty of apps - about six dozen, according to Samsung. Apps include Twitter and sports services such as RunKeeper, which tracks runs and other workouts. These are all great features, but the 1.9 megapixel camera is of poorer quality than a typical smartphone camera. In addition, moderate use of the device will require a daily battery top-up with yet another charger to keep track of.

I can imagine wearing the Gear with a casual dress or a formal outfit. It is sleek, with a thin metallic bezel surrounding the display. The strap comes in six different colors - black, gray, orange, beige, gold and green. But the screen, which is pitch black in idle mode, probably draws more attention than a tasteful accessory should. The dark recess in the strap where the camera's lens is embedded will also elicit questions from the curious.

In terms of what the Gear can do, the three features I tested worked efficiently. It was easy to activate the camera and quick to shoot a photo. It left both hands free while placing and answering calls. The Gear alerted me with a nice soft buzz and showed a preview of a newly arrived email. The full message can also be read. Samsung says replies are possible through voice dictation.

Taking photos felt natural except at very high or low angles, which forced the wrist into an awkward position.

I found easy navigation of the touch screen one of the device's biggest pluses. Samsung has dispensed with buttons on the screen, so there's no home or back button. There is a button on the top right edge of the smartwatch face. Pressing it turns the display into a clock. One tap anywhere on the screen takes and saves a photo in the Gear and the smartphone that's paired with it. In clock mode, one swipe from bottom to top pulls up a numeric keypad.

Swiping from left or right shows a list of icons, including the S Voice, Samsung's equivalent of Apple's Siri digital assistant that responds to voice commands. You also get a list of emails and notifications from social networking apps. At any time, tapping the screen twice with two fingers conjures a pop-up window that shows the time, the weather and the amount of battery left.

With the combination of S Voice and the speakerphone in the strap, placing and answering calls was much easier than a smartphone. I tested it in a noisy setting and had to speak to the Gear more than once to set an alarm in my smartphone or to look up a contact to place a call. But it did work without too much effort. I didn't have the device for long enough to test how well it worked when not very close to the smartphone.

One downside is that the Gear doesn't support a wireless earpiece, so both sides of any conversation can be overheard. (There is a way you can get around that, though: Link the wireless earpiece directly with the phone instead. But the Gear itself can be linked only with one device - the phone.)

The big disappointment for Samsung gadget owners is that the Gear does not work with most of its phones and tablets. The Gear needs the Galaxy Note 3, a smartphone with a giant 5.7-inch screen and a digital pen, and the Galaxy Tab 10.1, a tablet computer. Both will go on sale later this month. At a later date, it will be compatible with the Galaxy S4, released earlier this year, and the Galaxy Note II, which came out late last year.

In some countries, mobile carriers will bundle the Gear with the Note III on a two-year contract. In other places, consumers will be able to buy the Gear without a phone contract.

Overall, the Gear gives us more ways to imagine what wearable computing gadgets might do for us in the future. The Gear is smart but in a limited way, as it's essentially a slave to the smartphone it's paired to.

After my brief hands-on experience, I decided the first generation of the Gear was cool but not compelling enough to convince me to ditch my current device, an iPhone.

2013-09-04T23:03:00.004-07:00

West Indies Cricket Board gives its nod to India tour
DC CORRESPONDENT | 53 sec ago

Sachin Tendulkar
The West Indies Cricket Board has accepted the proposal to tour India during the month of November this year paving the way for legendary batsman Sachin Tendulkar to play his 200th Test at home.

“The West Indies Cricket Board today confirmed that the West Indies team will tour India in November. The tour will include a two Test series and three oneday internationals.

“The WICB and the Board of Control for Cricket in India agreed to utilise the mutually available window in November for the tour,“ the WICB said in a statement on Wednesday .

Master blaster Tendulkar, who has represented the country in 198 Tests, was scheduled to reach the milestone during the South Africa tour but the powerful Indian board, with its differences with Cricket South Africa, squeezed in the series possibly to allow the 40-year-old complete the double in his own country .