Mahasaptami! G20 takes helm of world economy!Kalavati files papers from Wani assembly seat.
Time for Bollywood to engage with Hollywood.RBI to come with quarterly policy review on October 27.IAF to display AWACS for the first time during Air Force Day.Army not to be used against Maoists : Chidambaram,Formulate social policy with dalit vision: D Raja,Santhanam calls NSA a "babe in the woods on nuclear matters".Women lead movement against human right violations in Imphal. Gold prices to rise on weak dollar: Report
Troubled Galaxy Destroyed Dreams, Chapter 384
Palash Biswas
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India prepares for Maoist assault | |
The Indian Home Minister, P Chidambaram, says the government will extend "every support" to states battling left-wing Maoist extremism. Mr Chidambaram was assessing state security in Chhattisgarh and Jharkhand as the government prepares for what it says will be an all-out assault. About 20,000 troops are being sent to the two states to join 35,000 already stationed there ahead of the offensive. The Maoists say they are fighting for the rights of the poor. They operate in a large swathe of territory across central and eastern India. More than 6,000 people have been killed during their 20-year fight for a communist state. "The centre is committed to fight Naxalism [Maoism]," Mr Chidambaram said. "We will provide all possible help to... eradicate the left-wing extremists completely," he told reporters here. The home minister hailed the Chhattisgarh government's efforts to fight Maoists and said all steps to provide "succour to kin of security men killed in the fight against Naxalism" have been taken. Correspondents say any offensive is not expected to be launched before October. On Friday Mr Chidambaram met Chhattisgarh Governor ESL Narsimhan to discuss the Maoist threat. Last week a fierce gun battle between Maoists and the security forces took place in Chhattisgarh. At least seven Maoists were killed and one paramilitary soldier. India's Prime Minister Manmohan Singh said earlier this month that his country was losing the battle against the rebels. Mr Singh told a meeting of police chiefs from different states that rebel violence was increasing and the Maoists' appeal was growing. The rebels operate in 182 districts in India. | |
India prepares for Maoist assault | |
The Indian Home Minister, P Chidambaram, says the government will extend "every support" to states battling left-wing Maoist extremism. Mr Chidambaram was assessing state security in Chhattisgarh and Jharkhand as the government prepares for what it says will be an all-out assault. About 20,000 troops are being sent to the two states to join 35,000 already stationed there ahead of the offensive. The Maoists say they are fighting for the rights of the poor. They operate in a large swathe of territory across central and eastern India. More than 6,000 people have been killed during their 20-year fight for a communist state. "The centre is committed to fight Naxalism [Maoism]," Mr Chidambaram said. "We will provide all possible help to... eradicate the left-wing extremists completely," he told reporters here. The home minister hailed the Chhattisgarh government's efforts to fight Maoists and said all steps to provide "succour to kin of security men killed in the fight against Naxalism" have been taken. Correspondents say any offensive is not expected to be launched before October. On Friday Mr Chidambaram met Chhattisgarh Governor ESL Narsimhan to discuss the Maoist threat. Last week a fierce gun battle between Maoists and the security forces took place in Chhattisgarh. At least seven Maoists were killed and one paramilitary soldier. India's Prime Minister Manmohan Singh said earlier this month that his country was losing the battle against the rebels. Mr Singh told a meeting of police chiefs from different states that rebel violence was increasing and the Maoists' appeal was growing. The rebels operate in 182 districts in India. | |
SEE ALSO
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21 Sep 09 | South Asia
Indian Maoists in fierce battle
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India is 'losing Maoist battle'
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India bans Maoist communist party
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25 May 09 | South Asia
Indian police killed by 'Maoists'
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G20 takes helm of world economy
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Reuters
Pittsburgh The Group of 20 will take on the role of caretakers of the global economy, giving rising powers such as China more clout, and roll out tougher rules on bank capital by the end of 2012, a draft communique said on Friday.
Heading into the second day of a summit aimed at ensuring the world economy emerges from its worst recession in generations with better safeguards against another crisis, the G20 also vowed to keep emergency economic support in place until a recovery is secured, according to the draft obtained by Reuters.
"We will act to ensure that when growth returns jobs do too," the text said. We will avoid any premature withdrawal of stimulus."
The document said G20 countries had a "responsibility to the community of nations to assure the overall health of the global economy" and pledged to try to secure next year a deal in long-running world trade talks.
The group, which accounts for 90 per cent of the world's economic output, also agreed to rein in financial industry excesses that triggered the credit crisis two years ago, and to tighten rules on how much capital banks must have to absorb losses.
The new rules aimed at improving the quality and amount of capital should be ready by the end of 2010 and will be phased in in the following two years, the draft said.
It also tackled the contentious issue of bankers' pay schemes, blamed for fostering a high-risk corporate culture that led to heavy losses and taxpayer-funded bailouts.
The document suggested linking pay to "long-term value creation, not excessive risk-taking."
However, it did not mention direct monetary caps on pay as proposed by French President Nicolas Sarkozy and some other European Union leaders.
The final version of the communique will be issued when the leaders wind up their meeting on Friday evening and French officials said the summit has not yet reached final agreement on executive pay.
EMERGING WINNERS
Emerging economies looked to be the surprise winners as the leaders sought to finalize agreements on an ambitious agenda that included building a more stable world economy, reforming bank regulations and tackling climate change.
In another boost for countries such as China or India, the G20 unexpectedly moved close to a deal shifting more voting power at the International Monetary Fund to some developing countries, recognizing their growing economic power.
In return, as the draft communique suggested, the G20 won their commitment to do their part in rebalancing the world economy.
That rebalancing act involves the debt-laden United States saving more and export powerhouse China consuming more.
The draft said that G20 countries with either "sustained, significant" surpluses -- a description that could fit China -- pledged to "strengthen domestic sources of growth."
By the same token, countries with big deficits -- such as the United States -- pledged to support private savings.
It was, however, unlikely any countries would consent to G20-imposed rules on how to run their domestic economy.
Some of that shift is already happening as a consequence of the global recession.
US consumers -- long viewed as the world's "shoppers of last resort" -- have cut spending as sinking home and stock values took a big chunk out of household wealth, while China is spending about $600 billion to stimulate its domestic economy and make it less dependent on exports.
US President Barack Obama's first G20 summit as host tests his ability to juggle domestic and foreign policy.
As Obama welcomed G20 leaders to a working dinner in Pittsburgh on Thursday, lawmakers in Washington were hashing out terms of a contentious healthcare reform bill that is the cornerstone of his domestic policy agenda.
TOP FORUM
After two years of financial turmoil, the global economy now appears to be recovering far faster than many economists had predicted, largely thanks to furious interest rate cuts, emergency central bank lending, and roughly $5 trillion in government stimulus money.
But with unemployment high and banks still struggling to absorb heavy losses primarily from failing US mortgage loans, the pressure is on the G20 to sustain the economic assistance and coordinate how and when the emergency stimulus is phased out.
"We designated the G20 to be the premier forum for our international economic cooperation," the draft communique said.
The move means the G20 supplants the G7 and G8 -- institutions dominated by rich Western economies, which will now remain forums for discussing geopolitical issues, diplomats said.
The G20, which includes the world's richest nations and fast-growing emerging economies including China, India and Brazil, has become the primary venue for world leaders to meet on the financial crisis. Pittsburgh is the third G20 summit in less than a year.
The draft communique also showed leaders endorsed an agreement on phasing out subsidies for fossil fuels, a measure aimed at helping combat global warming, but with no fixed date for the change.
Many G20 governments, including countries such as China, India and Russia, give tax breaks and direct payments to companies that help them produce coal, oil and other fossil fuels that cause greenhouse gases blamed for global warming.
Naked girls plough fields for rain!
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Reuters
Posted: Jul 24, 2009 at 1308 hrs IST
Patna Farmers in Bihar have asked their unmarried daughters to plough parched fields naked in a bid to embarrass the weather gods to bring some badly needed monsoon rain, officials said on Thursday.
Witnesses said the naked girls in Bihar state ploughed the fields and chanted ancient hymns after sunset to invoke the gods. They said elderly village women helped the girls drag the ploughs.
"They (villagers) believe their acts would get the weather gods badly embarrassed, who in turn would ensure bumper crops by sending rains," Upendra Kumar, a village council official, said from Bihar's remote Banke Bazaar town.
"This is the most trusted social custom in the area and the villagers have vowed to continue this practice until it rains very heavily."
India this year suffered its worst start to the vital monsoon rains in eight decades, causing drought in some states.
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Companies mop up Rs 3000 cr in a day
24 Sep 2009, 1045 hrs IST, ET Bureau
MUMBAI: Jaiprakash Associates, a builder of dams and power plants, and Suzlon Energy, the wind power generator maker, on Wednesday led Indian Long term plan for better returns
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companies in aggressively selling shares, taking advantage of a record rally in stocks to prune their debt.
While Suzlon founders sold their shares, Jaiprakash followed Reliance Industries in selling treasury stock that the company got when it merged Jaypee Cements, and other subsidiaries, with itself.
"Those who have accumulated debt during the boom time by expanding don't have a choice other than raising funds now," said Rashesh Shah, chief executive officer at Edelweiss Capital. "The smart rally is also tempting those who want to expand to raise funds."
Suzlon's promoters on Wednesday sold 4.5% to raise Rs 678 crore bringing down their stake to 53% from 66% in March 2008, stock exchange filings show. Jaiprakash raised Rs 1,190 crore from the sale.
Indian companies have raised record funds by selling shares to institutional investors this year, after the regulator relaxed pricing rules and stock indices have doubled from their troughs.
About 26 companies, led by Indiabulls Real Estate and Unitech, the second-largest real estate developer, have raised Rs 17,800 crore by selling shares or convertible securities to institutional investors this year, according to Bloomberg data. Indian companies have announced plans to raise as much as $18 billion this year.
Companies such as Unitech and Suzlon piled up debt during the record five years of economic expansion between 2003 and 2008 that also saw the benchmark BSE Sensitive Index, or Sensex, climbing nearly four-fold to beyond 20,000.
They acquired companies overseas and bought land expecting the dream-run to continue. But the credit crisis triggered by the US subprime hit the plans of Indian companies.
Suzlon, which acquired gear-box maker Hansen and REpower of Germany, piled up long- and short-term debt of as much as Rs 11,800 crore. Jaiprakash had a debt of more than Rs 18,000 crore, filings show.
Drugmaker Cipla and 3i Infotech, a technology company partly-owned by ICICI Bank, also sold shares. While Cipla sold shares at Rs 263.75 apiece to raise more than Rs 600 crore, 3i raised Rs 318 crore at Rs 84.75 a piece.
IPO pricing in focus; small investors grumble
25 Sep 2009, 1730 hrs IST, REUTERS
MUMBAI: Jayesh Jhaveri has had enough of Indian IPOs for now. Like many individual investors, the retired Mumbai businessman has seen his shares in Oil India IPO: To subscribe or not?
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NHPC's $1.25 billion IPO fall below their offer price. Jhaveri, 69, figures he's better off buying already listed stocks in a market that has risen 74 percent this year.
"Why should I put my money in these IPOs, when the prices fall below the issue price on the listing day itself and are still around there?," says Jhaveri. "One would rather buy the active stocks in the secondary market."
Retail investors, who are allotted 30 percent of Indian IPOs, have shown less enthusiasm than institutions in recent listings, which bankers said may compel issuers to price their offerings more attractively and force investors to lower expectations.
"There will be more sanity and you will see hopefully more sensible pricing taking place," said Atul Mehra, managing director of investment bank JM Financial.
Indian companies have raised roughly $15 billion through share sales this year, surpassing the total for all of 2008, and billions of dollars worth of IPOs are in the pipeline.
Companies readying listings include Reliance Infratel, JSW Energy, Indiabulls Real Estate, Great Eastern Energy, and Oberoi Constructions.
"The bad listing makes the investor exit the stock to cut losses and pressurises it more," said Rajen Shah, chief investment officer at retail brokerage Angel Broking.
"One or two such bad experiences scares him away from other IPOs. It's almost a cycle, until some company leaves enough room for listing gains while pricing it," Shah added.
State-run power company NHPC saw its much-anticipated IPO subscribed by more than 23 times, but the portion set aside for individual investors was covered less than 4 times. NHPC shares gained more than 10 percent in their Sept. 1 trading debut, but have mostly traded below their offer price.
Adani Power's $630 million IPO was subscribed around 18 times, with the retail portion subscribed nearly 3 times. Its shares gained almost 8 percent on their first trading day, but are currently around their IPO price.
With that recent experience in mind, many individual investors shunned Oil India's $570 million offering, which was subscribed more than 30 times, but just 1.8 times in the retail portion. The stock debuts on Wednesday.
Adani, NHPC and Oil India all priced their offerings at the top of their indicated ranges.
"Companies have not really left anything on the table for the investors," said Ambareesh Baliga, vice president of Karvy Stock Broking.
CONSERVATIVE PRICING
Some investors are still smarting from last year's much-hyped $3 billion Reliance Power IPO. The issue was covered around 70 times, with the retail portion oversubscribed 13.6 times, but the stock has never traded above its IPO price.
"Most of the companies planning IPOs are becoming slightly more conservative in their pricing after the after-market performance of a couple of recent IPOs," said Rashesh Shah, CEO of investment bank Edelweiss Capital.
He said retail appetite for new listings will remain given high levels of savings, but said heavy oversubscription levels and big first-day trading pops of the sort seen during boom times were unlikely, a development he said was healthy. "We'll not see a crazy pop, and maybe a 5-10 percent pop is what we in the industry consider good," he said. "Five or 10 percent will keep the flippers away."
Sabarimala Temple: Women discrimination still persists
New Delhi, Thu, 07 Feb 2008
Vikash Ranjan
The controversy linked with Kerala's Sabarimala temple has once again caught fire with the state government filling and affidavit in the Supreme Court urging that women of all ages be allowed into the Ayyappa temple. The affidavit said that it was keen to give equal status to women in the matter, which favours their entry into the temple.
Simultaneously Kerala`s LDF government has moot a separate pilgrimage season for women at Sabarimala Ayyappa temple to end the controversy. However it said it was not in favour of gender-discrimination.
As per the tradition, women aged between 10 and 50 years are not allowed entry into the temple, as Lord Ayyappa is believed to have taken a vow of celibacy.
True, no one has right to interfere in practicing one's religion and traditions. But at the same time it is also true that if any tradition or custom unduly hampers the progress of community on a large scale or talks about discrimination towards them, we must get rid of them. Customs might be justified the period, in which it was made, but the people should consider it in new modern perspective with open mind.
We were still be inhibited with the evil practices of sati, polygamy and child marriage etc, if the crusader like Raja Ram Mohan Roy would not have effort to abolish the practice. Think the practice of sati-a Hindu funeral practice, in which the widow sacrificed herself on her husband's funeral pyre, was once a well reputable practice among rajputs. But with the time they had to do away the evil practice, howsoever.
Once Jawahar Lal Nehru had said "you can tell the condition of a nation by looking at the status of its women." It is unfair that at this age-when we feel proud on being termed "modern and civilized"-women still be treated with discrimination.
http://www.newstrackindia.com/newsdetails/2323
Durga Puja: The joy of Bengal
Sushmita Dutta
As the Durga Puja gets nearer, one can find every Bengali waiting eagerly with a smile on his face. This autumnal festival brings in a wisp of freshness in the air in welcome of Mother Durga. The clear blue sky, the mild fragrance of the white Shiuli flowers, the swaying of the Kash flowers in the fields and the shakti chants make the entire atmosphere holy. This festival in the autumn or Sharat signifies the power of the female Shakti, the ten armed Godess Durga, over all that is bad and evil.
Eagerness knows no bounds with the advent of Mahalaya, a week before the main puja, when one hears the holy chant of ' Ya Devi Sarva Bhutesu Shakti Rupena Samsthita, Namastasye Namastasye Namastasye Namoh Namaha'.On Mahalaya, with chants and incantations, Godess Durga is invited to descend on the earth. During the Durga Puja, the Goddess is worshipped along with her two sons, Ganesha and Karthik, and two daughters, Lakshmi and Saraswati, and her husband Lord Shiva.
But the preparations for Durga Puja start quite early. The making of idols of the Godesses and the pandals start much before the actual puja. Making of idols is a long and cumbersome process. A finished idol is an exquisite piece of artistry. Such is the perfection that, one group of artisans does the bamboo structure while others does the clay mixing. And then there is a different set of people who do the head, palms and feet. The artisans who do the head of the goddess are regarded the highest grade of craftsmen or Pals. Great care is taken to do the head and eyes of the Goddess. As the artisans complete the idol, it looks as if life has been infused into the Goddess. The artisans of Kumartuli in Kolkata are famous for their idol making.
Another very important aspect of Durga Puja is the mammoth sized Puja pandals. Over the years they too have taken the form of art. It is considered the abode of the Goddess for the four days of puja. Hence it is built with aplomb and grandeur, sometimes depicting famous architectural splendors. And then they are decorated with numerous lights. These decorations attract huge crowds during the four major days of Durga Puja.
The four main days of puja are called Maha Shasthi, Maha Saptami, Maha Ashtami and Maha Navami. The festivities begin from Maha Shashthi (the sixth day from the day after mahalaya) when the priest unveils the deity during a puja known as Bodhan. And the fifth day is called Bijoya Dashami or Dusshera, when the Goddess is immersed in water. But the most important days of puja are Ashtami and Navami.
The Maha Ashtami (eighth day) is especially a significant day. It begins with a long series of puja and rituals. The Goddess is worshipped with a lot of food and cloth offerings. The offerings include fruits, items of bhog, items for Aarti, 22 bowls of madhupakka (honey, ghee, curd), 26 noibiddos or rice prasad. Similarly cloth offerings include one sari for Ma Durga, new clothes for Lakshmi, Saraswati, Ganesha, Karthik, Shiva, the nine planets, the demon and their respective rides. The puja and the ceremonies are interspersed between usual rounds of Anjali (flower offerings to the Goddess), bhog and prasad. The Maha bhog is served to each and everyone coming to the pandal. It consists of 'Khichdi' and a special preparation of mixed vegetables known as 'labra'. Every Bengali's taste buds are aroused by the simple mention of the Maha Bhog which actually tastes heavenly!
It is believed that the priest infuses life into the idol, by chanting of shlokas, during the Sandhi Puja which takes place in the evening.
The first glimpse of the goddess is observed through a reflection in a bowl of water. It gives an impression that the Goddess is actually moving. This part of the puja is called Pranpratishtha (breathing life into the idol). Merry making reaches its fervent pitch by the evening, as people throng the pandals to get a glimpse of the varied decorations and their favourite goddess. Everyone is dressed in their newest clothes which is actually a compulsion. The food stalls abounding the pandals also feed the gastronomical wishes of the pandal-hoppers. Lots of love stories also come to life during these four days of puja. The best thing about Durga Puja is perhaps the way people from every community, caste, creed and religions throng these puja pandals to pay their tributes to the Goddess and enjoy the festivities around it. All of these people are greeted with open arms and warnth.
The Maha Navami puja is the last day of the puja. The atmosphere begins to grow sad as the day slowly draws to close at the prospect of the Goddess going away the next day. But Navami also has its share of puja and merriment. Lots of puja items are required on Navami such as 22 finger rings made of Kusha, one nose ring, iron, two conch shells, a box of vermillion, flower garland, belpatra, a yagna or fire sacrifice items, gift for the priest etc. In the evening there is an Aarti competition where each competitor has to perform Aarti before the Goddess. Whoever performs the best wins the competition.
The last day appears to be day of sadness as the Goddess prepares to depart to her heavenly abode. This day coincides with Dusherra and is called Bijoya Dashami. Married women bid farewell to the Mother Goddess through various rituals, asking her to come back year after year. During the procession there is a playful ritual called Sindoor Khela in which women smear each other's, hair, faces and bangles with vermillion powder. Later the idols are taken to the nearby ponds or rivers, and immersed, bidding a tearful adieu to the Mother Goddess.
In the evening of Bijoya Dashami, friends and relatives visit each other. The young ones touch the feet of the elders to take their blessings. No guest is allowed to depart without having made to eat a variety of sweets as it signifies adding sweetness in relationships.
With the immersion of the idols on the Bijoya Dashami the puja gets over. The devotees with a heavy heart bid farewell to the mother and wait in anticipation for the next year till she comes back. Such is the enigma of the Goddess that she becomes a part and parcel of every household for the four days she is worshipped, more like a family member. The Durga Puja gives us a chance to heal our wounds, to let go of our angers, and share this tranquil joy with one and all. And one thing that makes the Durga Puja unique is its representation of our culture. It is an occasion not only for worship, but also celebration, music, dance and everything that make our culture unique.
http://www.zeenews.com/Navratri09/story.aspx?aid=472801
25/09/2009
India's own MIP detects water on moon: Nair, NASA thanks ISRO
Bangalore/Washington: India's own Moon Impact Probe (MIP) on board the country's maiden unmanned lunar craft had also detected evidence of water on the moon in a finding confirmed by US space agency NASA which too had an instrument onboard Chandrayaan-I.
Jim Green, director, Planetary Science Division, Science Mission Directorate at NASA Headquarters holds a spoon to illustrate the amount of water discovered on the surface of the moon at a briefing to discuss new science data from the moon collected during national and international space missions September 24, 2009 at NASA Headquarters in Washington, DC. NASA scientists have discovered water molecules in the polar regions of the moon. Instruments aboard three separate spacecraft revealed water molecules in amounts that are greater than predicted, but still relatively small. Hydroxyl, a molecule consisting of one oxygen atom and one hydrogen atom, also was found in the lunar soil. The findings were published in Thursday's edition of the journal Science. NASA's Moon Mineralogy Mapper, or M3, instrument reported the observations. M3 was carried into space on Oct. 22, 2008, aboard the Indian Space Research Organization's Chandrayaan-1 spacecraft. Data from the Visual and Infrared Mapping Spectrometer, or VIMS, on NASA's Cassini spacecraft and the High-Resolution Infrared Imaging Spectrometer on NASA's EPOXI spacecraft contributed to confirmation of the finding. The spacecraft imaging spectrometers made it possible to map lunar water more effectively than ever before.
The NASA meanwhile thanked ISRO for enabling the discovery of water on Moon through Chandrayaan-I.
"We want to thank ISRO for making the discovery possible. Moon till now was thought to be a very dry surface with lot of rocks," NASA director Jim Green told reporters in Washington.
source: MSNINDIA.COM
Advani renews Ram temple pledge on Rathyatra's 20th anniv
Somnath, Junagadh: Despite the Ram Mandir issue failing to cut much ice with voters, senior BJP Leader L K Advani today reaffirmed his commitment to building the temple at Ayodhya.
"Today, I have come to Somnath to offer my prayers on the 20th anniversary of my Rathyatra. Ram temple should be and will be built at Ayodhya," Advani said after offering prayers.
It was from here on September 25, 1990, that he had launched his Ram Rathyatra, which, though ending abruptly with his arrest in Bihar, had put the BJP firmly on the road to power.
"I visit Somnath every year this day and will continue to do so till Ram temple comes up at Ayodhya," Advani, who was accompanied by his daughter Pratibha, said.
Source: PTI
25/09/200934
bodies retrieved, dozens still trapped under crashed Balco chimney
Raipur: Rescuers had retrieved the bodies of 34 workers till Friday noon from the Bharat Aluminium Company Ltd (Balco) plant in Chhattisgarh and were struggling to remove the debris of a 100-metre chimney that crashed two days ago. Police fear dozens are still trapped underneath.
District authorities at Korba, about 250 km north of state capital Raipur, said 34 bodies of workers were pulled out and the casualty figure could surge once the wreckage of the under-construction chimney at the 1,200 MW coal-fired power plant was cleared.
"The rescue operation is underway with a dozen cranes pressed for clearance work. The rescuers are working cautiously to clear the debris so that survivors, if any, can be pulled out," Korba district collector Ashok Agrawal told IANS.
He said: "It might take at least another two-three days to remove the rubble under which dozens of workers are suspected to be trapped." The workers are mostly from Bihar and Jharkhand.
Gannon Dunkerley and Company Ltd (GDCL) had bagged the award for construction of the 275-metre chimney for the power plant.
A senior state minister Brijmohan Agrawal told reporters, "Dozens of workers hired by Gannon Dunkerley and Company Ltd (GDCL) and several others who were at the canteen and store rooms close to the crashed chimney are missing and are believed to be trapped under the debris."
The minister, who is supervising the rescue operation, said substandard construction material used could be the reason for the chimney collapse.
At the crash site, dozens of workers and women were beating their chests and wailing, fearing the worst for their trapped kin and colleagues.
Source: IANS
25/09/2009
Scientists crack brain's numerical code
London: Researchers have found that they can tell what number a person has just seen by observing and analysing the pattern of brain activity.
These findings confirm the notion that numbers are encoded in the brain via detailed and specific activity patterns and open the door to more sophisticated exploration of a human's high-level numerical abilities.
Although "number-tuned" neurons have been found in monkeys, scientists hadn't managed before now to get any farther than particular brain regions in humans.
"It was not at all guaranteed that with functional imaging it would be possible to pick this up," said Evelyn Eger of INSERM (Institut national de la sante et de la recherche medicale) in France.
Researchers presented 10 study participants with either number symbols or dots while their brains were scanned with a MRI. They then devised a way of decoding the numbers or the number of dots people had observed.
Although the brain patterns corresponding to number symbols differed somewhat from those for the same number of objects, the numerosity of dot sets can be predicted above chance from the brain activation patterns evoked by digits, the researchers show. That doesn't work the other way around, however.
At least for small numbers of dots, the researchers did find that the patterns change gradually in a way that reflects the ordered nature of the numbers -- allowing one to conclude that six is between five and seven, for instance.
The methods used in the new study may ultimately help to unlock how the brain makes more sophisticated calculations, the researchers say, according to an INSERM release.
"With these codes, we are only beginning to access the most basic building blocks that symbolic math probably relies on," Eger said.
These findings were published online in Current Biology.
Source: IANS
25/09/2009
New shows on NDTV Good Times for festive season
NDTV Good Times has lined up a series of new shows to celebrate the festive season starting with Durga puja.
'Festivals' - Celebrating India' celebrates the spirit of India through its festivals. The show takes the viewer on a journey through age old customs and traditions-- from a Buddhist monastic festival in Ladakh to the cultural extravaganza of Onam in Kerala.
In the first episode, experience the ecstasy of Durga Puja, a five day festival whose roots lie in the worship of nature and womanhood, with the people who celebrate it.
'Spirit' is a spiriual journey where one will lose yourself to the beauty and natural splendour of the Himalayas. On September 25, embark on a journey from the plains of Delhi and move through Haridwar and Rishikesh, making the way up to the birthplace of the Ganga in Gangotri.
On September 26, the voyage continues from the mybanks of Ganga in Rishikesh and move up through Gangotri to Bhojwaas, and then the Gaumukh Glacier - the source of the river Ganga.
An in-depth coverage of Van Heusen Men's Fashion Week would be telecast on September 27 at 9.30 pm.
Source:India Syndicate
Devotees celebrated 'Mahasaptami', the second day of Durga Puja here on Friday. While, Women lead movement against human right violations in Imphal. Women here took out a torch rally intensifying movement against the human right violations allegedly by security personnel.Apunba Lup, an umbrella organization of local groups, has been spearheading the agitation demanding removal of state Chief Minister Okram Ibobi, and punishment to the involved commandos.
Protesters alleged that police personnel used tear gas shells, rubber bullets, mock bombs, batons and firearms to suppress the mass movement.
"What people want is that if government doesn't take any action then we will participate in the mass movement led by Apunba Lup ceaselessly. If we don't support this movement, then all women here would become widows. So, we have to go forward with the movement with courage," said Ibemhal Devi, a protestor.
The mass movement has intensified since September 22. Several rallies have been conducted in all the districts of the state and effigies are regularly burnt.
Manipur has been on the boil since the killing of a pregnant woman and a suspected militant in a shootout on July 23 near the building of the state legislature in Imphal. Five others were injured in the shootout.
Protestors in the state are demanding stringent action against the police commandos allegedly involved in the shootout, which they have branded as a 'fake encounter'.
Meanwhile, Indian companies are returning to the overseas debt markets as record low interest rates, improved risk appetite and rebounding investor
confidence enable them to raise money more cheaply than at home.
Indian Railway Finance Corp (IRFC) this month agreed to raise a $450 million loan from a consortium of banks at a spread of 300 basis points above six-month U.S. dollar Libor, the tightest since the collapse of Lehman Brothers last year.
State-run lender Rural Electrification Corp (REC) is negotiating with U.S.insurer Aflac Inc for a $200 million yen-denominated loan as part of the company's $500 million overseas borrowing plan.
Private sector lender Axis Bank, meanwhile, is looking to raise $300 million through a bond offer that would be the first overseas issue in a year from an Indian commercial bank.
Other firms, including State Bank of India, are said by market insiders to be considering raising debt abroad.
"Global appetite for Indian debt has improved, credit spreads have come in and deals are happening now," said Ajay Mahajan, managing director for financial markets and institutional banking at UBS in India.
He noted that Indian companies posted solid results in the most recent quarter, while the index of industrial production (IIP) averaged a robust 7.4 percent during July and August.
"It suggests the Indian economy has turned the corner and that should bode well for companies looking for debt capital as well as equity," Mahajan said.
The interbank cost of borrowing dollars, euros and sterling based on three-month Libor (London Interbank Offered Rate) is touching new lows as central banks and governments flood global financial markets with liquidity.
"There is a huge amount of risk appetite for India-specific papers," said Axis Bank's President of Treasury Bapi Munshi.
He said investors have scaled down their demand to a spread of below 300 basis points over Libor, from 325 bps in June when the bank started negotiating with investors.
"When it is around 250 or near 200, we will test the market. Appetite has improved compared to June and we expect spreads to narrow," Munshi said.
Showing a decisive recovery, six key infrastructure industries grew by 7.1 per cent in August against 2.1 per cent in the same month a
year ago.
Cement was on top of the table expanding by 17.6 per cent in August compared to mere 1.9 per cent growth in the same month last year. The other sectors which did well included coal (12.9 per cent) and electricity (9.8 per cent).
The six core sectors- cement, coal, electricity, steel, crude oil and petroleum refinery products which have a combined weightage of 26.68 per cent in the industrial production- came out with the best performance this fiscal in August.
These industries registered a growth rate of 2.5 per cent in July, as per the official figures released today.
There was a marked improvement in April-August as well with a growth rate of 4.8 per cent during the period.
However, crude oil remained in the negative zone with a (-) 2.6 per cent decline. Petroleum refinery products output expanded by 3 per cent and finished steel by 3.1 per cent.
With improvement in core sectors, the total factory output is expected to show a further expansion in August. In July the industrial output grew by 6.8 per cent.
Gold prices to rise on weak dollar: Report
Gold is likely to continue its bull run as monetary and fiscal stimulus programmes have failed to rejuvenate the world economy, waning
the dollar's value as a safe haven against the yellow metal, a report says.
The GFMS report noted that the bull run in gold is possible as the various monetary and fiscal stimulus programmes have failed to boost the world economy, feeding through to a dis-inflationary conditions.
Earlier, it was expected that the stimulus packages would have encouraged investors to seek out the security of US Treasuries, which would have boosted the value of the US dollar, negatively impacting the gold.
Gold and dollar generally trend in opposite directions. The US dollar, which is considered a safe haven, softens due to weakening economic condition. As dollar declines, many investors and central banks continue to hold gold as their safe haven to protect themselves from unforeseen global economic shocks, boosting the demand for the yellow metal.
However, metals research consultancy GFMS Chairman Philip Klapwijk said: "We're still favourably disposed towards the price in the medium term.
"That's mainly because we see it as highly likely that debt monetisation and ultra-low interest rates, especially in the US, will at some point feed through to a build in inflationary pressures."
India gold buying eases, traders seek lower prices
India gold buying eased on Thursday after picking up in the previous sessions, as most traders turned their backs on the market, waiting for
prices to fall further, dealers said.
"There were a few deals, but volumes-wise they weren't sizeable," said Pinakin Vyas, chief manager-treasury with IndusInd Bank in Mumbai.
The most-traded October contract was 0.23 percent lower at 15,801 rupees at 2:46 p.m. Prices are still down 1 percent from a seven-month high of 16,009 struck last week.
International spot gold traded at $1,010.60/1,011.45 an ounce as against $1,007.05/1,009.05 on Wednesday.
Dealers said they are hopeful of a pick-up in demand as traders look to stock up for upcoming festivals, after a decline in sales in the earlier part of the year.
"There is appetite but traders are not getting the right levels to enter," said another dealer with a state-run bank in Mumbai.
"I have plenty of orders below $995 (an ounce)," said IndusInd's Vyas.
India, the world's largest consumer of the yellow metal, is in the midst of the festival season, with Dussera on Monday and Diwali and Dhanteras next month, which is expected to revive sagging gold sales.
The World Gold Council's January to June figures show India's gold imports fell 55 percent to 126.7 tonnes from 282.3 tonnes a year earlier.
Gold traders stock up for festivals
India gold traders picked up bargains on Friday to stock for festivals, due next week, as prices stayed near their two-week low, dealers
said.
"The (gold) market is in full action, there is activity in all the centres as prices are near $995 (an ounce). I sold around 300 kgs since morning," said Pinakin Vyas, chief manager, treasury, IndusInd Bank in Mumbai.
"There is good amount of buying after yesterday's price dip. It's come at a right time" said a dealer with a state-run bullion dealing bank in Mumbai.
The most-traded October contract traded near its two-week low at 15,588 rupees per 10 gram at 2:03 p.m.
The contract shed 1.5 percent in the previous session, after witnessing a low of 15,550, a level last seen on Sept. 10, when a strong dollar overseas spurred selling.
Interational gold was at 995.00/996.20 an ounce as against 993.75/995.75 on Thursday.
India, the world's largest consumer of the yellow metal, is in the midst of the festival season, with Dussera on Monday and Diwali and Dhanteras next month, which is expected to revive sagging gold sales.
Further decline in prices could revive buying appetite, they added.
"I still have plenty of orders at around $980 (an ounce)," said IndusInd's Vyas.
The World Gold Council's January to June figures show India's gold imports fell 55 percent to 126.7 tonnes from 282.3 tonnes a year earlier.
Forex reserves fall to $280.770 bn
India's foreign exchange reserves fell to $280.770 billion for the week ended September 18 from $280.978 billion in the previous week.
The foreign currency assets (FCA) fell by $209 million during the week to $264.353 billion against $264.562 billion a week-ago, RBI said in its weekly report.
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies (such as Euro, Sterling, Yen) held in reserves, the central bank said.
During the week, gold reserves stood unchanged at $9.828 billion while the Special Drawing Rights increased marginally to $5.224 billion against $5.223 billion in the previous week, the central bank said.
The country's reserves position in the international monetary fund stood unchanged at $1.365 billion during the period, RBI said.
Oil prices rise after recent slump
Oil prices rebounded after recent heavy falls triggered by fresh concerns about the pace of economic recovery in the United States, the
world's largest energy-consuming nation.
New York's main contract, light sweet crude for November delivery, rose 65 cents to 66.54 dollars a barrel.
Brent North Sea crude for November delivery climbed 81 cents to 65.63 dollars in London trade.
"Crude prices are higher after the dollar weakened and G20 nations pledged to keep in place emergency economic stimulus (measures) until there is a durable recovery," said Sucden Financial Research analyst Nimit Khamar.
"Prices were also supported following a research note from Goldman Sachs who left their price forecasts for crude unchanged at $85 by the end of the year and an average of $90 in 2010."
G20 leaders were Friday set to say that economic stimulus measures to cope with the global financial crisis should be maintained "until a durable recovery is secured," according to a draft of their joint statement.
Oil closed down more than three dollars on Thursday as mixed US economic data and signs of sluggish US energy demand highlighted fears about a tepid recovery from the global recession.
Prices fell almost three dollars on Wednesday in reaction to a large jump in US crude oil inventories- a sign that energy demand remains weak.
Worries about the pace of the US economic recovery intensified after data Thursday showed existing home sales fell 2.7 per cent in August to 5.10 million units, snapping a winning streak.
On Wednesday, a widely-watched Department of Energy report showed US crude reserves rose 2.8 million barrels in the week to September 18, against analyst expectations oF a decline.
Stocks of distillates, which include heating fuel, rose by three million barrels last week. Distillates are closely monitored ahead of the northern hemisphere winter when demand for heating fuel peaks.
Energy demand has plunged after the global economy slipped late last year into its worst recession since the 1930s.
This sent oil prices tumbling from historic highs of more than $147 in July 2008 to around 32 dollars in December.
Prices have since recovered somewhat but investors remain concerned over the pace of the upturn.
Oil prices rose strongly above $70 a barrel on Tuesday as the US currency hit a one-year low against the euro.
Since oil is traded in the US currency, a weaker dollar makes the commodity more attractive to holders of stronger units, leading to greater demand and pushing prices higher.
PM's Task Force on MSME sets up sub-committees
Prime Minister's task force on Micro, Small and Medium Enterprises on Friday reviewed the problems faced by the sector particularly with
regard to bank finance and formed special panels to suggest the remedial measures.
The first meeting of the task force chaired by the Prime Minister's Principal Secretary T K A Nair included Planning Commission Member Arun Maira, Labour Secretary PC Chaturvedi and Secretary MSME Dinesh Rai.
The meeting was also attended by State Bank of India Chairman O P Bhatt, who said while the task force reviewed the problems of financing faced by the small businesses, "no targets have been set."
MSME Secretary Dinesh Rai said the government gives importance to the sector and the taskforce has identified the issues of credit, labour, marketing and infrastructure as key to the sector.
Sub-committees have been formed to look into various areas identified, Rai said, adding the panels would submit its report within 30 days.
These sub-committees would be represented by the concerned department and industry association members, said D E Ramakrishnan President of an industry association IFRASTE.
IAF strengthening air defence radars along LAC with China
The Indian Air Force (IAF) is strengthening its air defence in Ladakh along the Line of Actual Control (LAC) with China by putting in place a series of special mountain and light-weight radars.
Western Air Command (WAC) chief Air Marshal N A K Browne told reporters in New Delhi on Thursday that different types of radars would be put in place along the 667-km LAC with China, the air defence of which is WAC's responsibility.
"The Air Force is keenly examining the option of special type of radars, which we call the mountain radars and we are also looking at Low Level Light Weight Radars (LLLWR). So there is a definite plan," Browne said to a question on the future air defence systems along the LAC.
The IAF's move comes close on the heels of reports of recent incursions by Chinese military helicopters into Indian airspace.
Browne said the IAF would put in place these radars in the next four to five years to make the air defence system along the LAC robust.
"When I talk of operational infrastructure to be improved in the northern sector, the mountainous terrain is very tricky. Because you have huge peaks and normal conventional systems are very difficult to maintain there," he said.
Browne said the IAF had already given contracts for 19 of LLLWRs and that the WAC itself had some of these. "More are in the pipeline. They are coming starting from next year itself," he added.
Browne said the IAF also had the option of an indigenously developed LLLWR. At present, the IAF has placed along the LAC two Rohini radars developed by DRDO and manufactured by BEL.
"One more Rohini radar is to be inducted next year and placed along the LAC," he said.
"These, I think, will take care of detection of any threats that come from across the LAC," he added.
Browne parried queries on the IAF's response to Chinese helicopters violating Indian airspace in Ladakh, but he said India needed to keep talking to all its neighbours and at the same time maintain highest levels of military preparedness.
"We do need to talk to everybody...every one of our neighbours and at the same time keep our gun powers dry. We should maintain our preparedness at the highest levels," he said.
The WAC chief also admitted that the IAF was fully aware of what was going on along the LAC, but reiterated that there were issues such as differing perceptions of the LAC on both sides.
On the recent remarks of IAF chief Air Chief Marshal P V Naik that India's Air Force fleet was just one-third of China's, he said the IAF was extremely well-balanced on all fronts such as numbers, technology, modern platforms and equipment.
"It is not just a question of numbers, there are other issues such as technology and capability too," he said, dismissing the Chinese fleet strength as a threat.
Water on moon prompts ISRO to rethink on Chandrayaan-II
Discovery of water on moon by Chandrayaan-I has prompted ISRO scientists to rethink on the experiments to be carried by its sequel mission scheduled for launch by 2013.
ISRO plans to land two rovers on the lunar surface as part of Chandrayaan-II besides conducting several in-orbit experiments.
"Following findings of Chandrayaan I, it would have to now look at midcourse correction of its objectives. We have to fine tune it. There is some loud thinking on the issue going on," ISRO Chairman G Madhavan Nair told reporters in Bangalore.
Nair indicated that scientists were exploring possibilities of equipping the lunar rover with some instruments that could dig the moon surface and carry out in-situ experiments.
While almost all experiments on Chandrayaan-II will be by Indian scientists, the lunar rover which will land on the moon will be sourced from Russia, Nair said.
ISRO is also looking at ways to send a smaller indigenous version of the rover to the lunar surface.
"Right now Chandrayaan-II is full," Nair said adding that scientists were looking at how they could accommodate some additional payloads.
Mahasaptami is significant as on this day, Goddess Durga attacked the 'Mahisasura' (demon) with her holy power. 'Mahisasura' symbolises the evil power that exists within the human being.
"On this day, 'Mahisasura' attacked on Goddess Durga with all his strength.
Mother Durga also attacked him back with all her holy power. So, 'Mahisasura' in a way symbolises evil power that exists within us. We pray to Goddess Durga to destroy this evil power. That is the significance of Saptami," said Srutinath Banerjee, a priest.
Aesthetically designed and decorated pandals have turned Kolkata into a city of temples.
Local puja committees compete with one another to make their makeshift temples attractive. Some are modelled after famous buildings or monuments.
Illuminations are an added attraction, as Kolkata"s artistic electricians are known across the country for their skill.
Worship of Durga is part of the ten-day festival of "Navaratri", which culminates in "Dusshera" celebrations.
The festival, which symbolises the triumph of good over evil, is marked by prayers, processions and musical programmes.
Army not to be used against Maoists, Chidambaram calrifies keeping the Hidden Agenda to Promote Realty sector in Tribal Belt under his Puritan South Indian Disguise with a Humanitarian face.On a visit to Maoist-affected
states of Chattisgarh and Jharkand, Union Home Minister P
Chidambaram today said there is no move to involve the Army in
the fight against Naxals who posed the "gravest challenge".At the same time, A strong demand for formulating a
social policy with a "dalit vision" was made by CPI leader D
Raja, who charged the government with following an ad hoc
policy towards the welfare of SC, ST and OBCs.
India is fast emerging as a growing vehicle market. And more so, as global auto giants waste no time in launching the latest bikes and cars to capture the imagination of a billion people...check out the major automobile launches of the year...
Security arrangements have been beefed up across Kolkata for the four-day long Durga puja festival beginning here Sep 25.
Keeping in mind the huge crowds that congregate at various places across the city during the festive season, the Kolkata police are setting up watch towers on rooftops and balconies near major puja pandals (marquees) to keep a close eye on the pandal hoppers.
"At least 39 watch towers will be set up at vital points and important crossings in and around the city. This apart, more than 90 CCTVs (closed-circuit televisions) will be installed at big puja pandals in Kolkata," Kolkata Police Joint Commissioner (Headquarters) Jawed Shamim told IANS.
"We are taking all necessary security measures to facilitate the pandal hoppers who will come to Kolkata during Durga puja," Shamim said.
"Besides setting up watch towers and CCTVs, there will be quick response teams, emergency medical teams and an adequate number of ambulances available for round the clock security during the festivity," he added.
There are 1,125 Durga puja pandals this year across Kolkata.
West Bengal is now in festive mode with thousands of big and small Durga pujas being held in every nook and corner of the city, smaller towns and villages across the state.
Durga puja starts on Sep 25 and ends Sep 28 with the immersion of Goddess Durga and her pantheon in rivers and other water bodies.
Santhanam calls NSA a "babe in the woods on nuclear matters"!Describing National Security Adviser M. K. Narayanan as "babe in the woods" on nuclear matters for his comments on Pokhran-II tests, former DRDO scientist K. Santhanam has said his career has been that of "a cop and a spook".
Chiding Narayanan for calling him a maverick, the DRDO scientist, who was one of the four key scientists associated with the tests in 1998, said "it shows desperation of a sort. There is a nice phrase in football- attacking the player, not the ball."
"The attempt is to give the dog a bad name. But this dog has not lost its bite," Santhanam said in an interview to Outlook magazine.
Santhanam recently stirred a controversy claiming that the nuclear tests done in 1998 were not successful as projected at that time.
Terming the scientist's claims about the tests as "horrific", Narayanan had asserted that India has thermonuclear capabilities which have been verified by a peer group of researchers.
Countering Narayanan's assertion, Santhanam said, "I am a person from a nuclear background, who spent close to 16 years in Trombay, published articles in various journals. I was doing strategic analysis long before I came to Delhi.
"I may not be known to Narayanan but, if anything, I will add that Narayanan is a babe in the woods on nuclear matters. His career has been that of a cop and a spook. And I don't want to elaborate any further."
"There is no systematic policy to ameliorate the
conditions of the poor through development planning that
guarantees delivery," he said in a letter to Prime Minister
Manmohan Singh.
Observing that around 40 per cent of these sections were
still poor and under-developed, Raja said the new economic
policy was discriminating against the SCs and STs.
On the land reforms and tribal rights, he said government
has not made any effort to implement land reforms to
distribute surplus land to the dalits and the policy of SEZ
was implemented very effectively to displace dalits from their
land holdings.
Referring to the reforms in the education sector, Raja
said the HRD ministry was in a hurry to do something to
satisfy the upper caste and the Right to Education Bill passed
in Parliament was of no use to the dalits.
It was necessary to earmark funds in proportion to the
population of SCs (15 per cent) and STs (7.5 per cent) in the
total plan outlay. A total amount of one-fourth of the plan
budget was expected to be spent on the development schemes for
SCs and STs separately, he added.
Raja also urged the Prime Minister to call a special
meeting to review the policies and to formulate a social
policy with a dalit vision.
Chidambaram also said it was a matter of concern that
Jharkhand has become the "epicentre of left-wing extremism"
along with Chhatisgarh.
"There is no proposal to involve the army in anti-naxal
operations," Chidambaram, who was in Ranchi to review the
security situation in Jharkhand, told newsmen in reply to a
question whether there was a move to use the Army or the Air
Force for the operations.
"Left-wing extremism is the gravest challenge to our way
of life, our republic and our democracy," he said of CPI
(Maoist) which is a banned organisation.
"Our policy on left-wing extremism is very clear. There
is no place for violence or so called armed liberation
struggle in a republican, democratic, social form of
government," Chidambaram said.
"They believe in armed liberation struggle. We reject
that argument. So long any one indulges in violence, the state
has to oppose and fight the group," he said.
The Centre, he said, had made it clear during the recent
Chief Ministers Conference in Delhi that the so called armed
liberation struggle was unacceptable and the police would take
action against it.
Describing the frontal organisations of the outfit as
unfortunate, he said these organisations seemed to have taken
a 'romantic view' of left-wing extremism.
Earlier, Chidambaram said in Raipur that the Centre is
committed to fight Naxalism and that it would provide all
possible help to the Chattisgarh government in its efforts to
eradicate the left-wing extremists completely.
IAF to display AWACS for the first time during Air Force Day!Kalavati files papers from Wani assembly seat.Ending uncertainty over her
contesting polls, Kalavati Bandurkar, whom Congress leader
Rahul Gandhi mentioned in Parliament to highlight the plight
of debt-ridden farmers in Vidarbha, today filed nomination
papers from Wani assembly constituency as an independent.
All major markets, including the
Calcutta Stock Exchange will remain closed from September 25
to September 28 on account of "Durga Puja" Festival. The markets will reopen on September 29 for regular
trading.
Rather a Huge disappoint for FreesenSEX Consumer life, an anguished Indian cricket coach
Gary Kirsten today sought to distance himself from a
controversial dossier which encouraged cricketers to indulge
in sexual activities, saying he had no role in drafting the
document nor was it intended for team strategy.
Two days after the unusual document made headlines and
left the cricketing world bemused, Kirsten said he was deeply
hurt at the quotes attributed to him that he has been trying
to encourage the players towards sexual activity in order to
improve their performance.
Kirsten said the document was prepared by mental
conditioning expert Paddy Upton and he read about it for the
first time two days ago.
"My family and I have been deeply offended and hurt by
the many allegations that I encouraged the Indian players to
engage in sexual activity before a match," Kirsten read out a
prepared statement at a press conference here.
"I would like to state that I have never, and I repeat,
never encouraged or told the team or any player to engage in
any form of sexual activity. These allegations are absolutely
not true and completely against my religious and moral
beliefs," he said.
The former South African opener said Upton's report was
just to provide information to the players and not to be used
as a team strategy.
Kalavati, who was hospitalised late last night after she
complained of chest pain, was accompanied by a physician and
Vidarbha Janandolan Samiti (VJS) President Kishori Tiwari,
when she drove in an ambulance to the Assistant Returning
officer in Wani to file the papers, Tiwari told PTI.
Earlier, the 48-year-old widow of a farmer in Vidarbha,
had said she was being "pressurised to contest elections and
was unaware of what election and politics were."
"I do not want to contest the elections," she had told
a newspaper alleging that workers of the VJS had made her
announce before the TV cameras that she would contest the
Assembly elections.
Tiwari, whose VJS is sponsoring her election, had told
PTI, "She is saying such things because she does not want to
lose financial aid from Sulabh."
After Rahul Gandhi mentioned her name in Parliament last
year, Sulabh International had committed to deposit Rs 30 lakh
in Kalavati's bank account.
Bindeshwar Pathak, Founder of Sulabh International had
asked Kalavati to "refrain from joining politics" and render
social service.
Kalavati, backed by RPI-led Republican Left Democratic
Front (RLDF) is contesting the October 13 polls from Wani in
Yavatmal district as an independent.
'Mahasaptami,' the first day of
the four-day Durga Puja commemorating the arrival of the
Goddess and her children to earth, was today celebrated in
West Bengal with fervour. The festivities began with chanting of mantras as priests
installed banana plantains at 'mandaps' beside the images of
Lord Ganesha, who is accompanying his mother in her earthly
sojourn, along with his siblings Kartik, Lakshmi and
Saraswati.
President Pratibha Patil today
greeted the nation on the occasion of Durga Puja saying the
festival symbolises the triumph of truth, righteousness and
virtue over evil.
"May this festival inspire us to work for the unity and
well being of the country and strengthen the moral foundation
of our society," she said in a message.
The President said on the occasion of Durga Puja, "I
extend my greetings and good wishes to all my fellow
citizens".
Durga Puja festivities grip the
city, politicians are not left far behind in welcoming the
'Goddess of power' with one donning the priest's mantle, while
others utilising it for making public contact.
Union Finance Minister Pranab Mukherjee will turn into a
priest tomorrow to worship the Goddess at his ancestral
village Miriti near Kirnahar in Birbhum district, in keeping
with his family tradition.
Puja is a time to "make public contact" for Railway
Minister Mamata Banerjee.
Banerjee, who has been busy inaugurating puja pandals
across the city, said, "I make public contact while visiting
pandals."
Echoing the same view, CPI(M) leader Robin Deb said,
"The festival gives me an opportunity to be in touch with the
people."
For Forward Bloc All India General Secretary Debabrata
Biswas, the four-day festival is a "break from politics".
"Every year I take part in the century-old puja at my
village in Belmuria gram panchayat in Hoogly district. I meet
my schoolmates and spend time in 'adda (gossip)'. It is a
break from politics," the FB leader said.
For the first time, the Indian
Air Force (IAF) will put its newly inducted Israeli-made
Phalcon Airborne Early Warning and Control System (AWACS) on
display during the Air Force Day parade on October 8.
On the other hand,With UNSC asking non-NPT nations
to sign the treaty, the CPI(M) today said its stand has been
vindicated as it had warned of "external pressures" on India
in the aftermath of the Indo-US civil nuclear deal.
It also asked the government to stick to its own position
on the treaty, saying India should not be a party to it as it
was discriminatory.
"At the time of the Indo-US nuclear deal itself, one of
our objections was that it is not really nuclear commerce, but
there is going to be external pressures put on India on these
issues of NPT, CTBT, FMCT," CPI(M) Polit Bureau member Sitaram
Yechury said.
He said India had not signed these treaties because they
were "discriminatory".
"We warned that there will be the sort of pressure and
that is precisely what is happening. India should stick to its
own position saying these treaties were discriminatory," he
added.
IAF officials at the Western Air Command (WAC) said here
today that the AWACS, which were inducted in May this year,
would be on flying display during the 77th Air Force Day
parade.
The parade itself will, as in the recent years, take
place at the Hindan airbase in Ghaziabad when the IAF would
flying a total of 54 aircraft that would include its most
potent fighters such as Su-30MKI, Mirage-2000, and MiG-29s.
The 'Surya Kiran' Aerobatics Team on Kiran MkII trainer
aircraft and the 'Sarang' Helicopter Aerobatics Team on their
indigenous Dhruv helicopters would also perform their stunts
at the parade.
Air Chief Marshal P V Naik will take the salute and the
parade would be witnessed among others by Marshal of the Air
Force, Arjan Singh, Army Chief General Deepak Kapoor and Navy
Chief Admiral Nirmal Verma.
Ignoring the weatherman's warning of rains during the
day, thousands of devotees thronged the Ramakrishna Mission
global headquarters at Belur Math near here and various
pandals in the city.
The city witnessed huge traffic snarls at a number of
places and police had a tough time managing the crowd.
It is Right time for Bollywood to engage with Hollywood as
Top atomic scientists from across
the world will discuss the future roadmap for the growth of
nuclear energy at a three-day international conference to be
inaugurated by Prime Minister Manmohan Singh on Tuesday.
India's economy posted a growth
of 6.7 per cent during the last year and it is possible to
sustain the rate of growth despite slowdown in exports,
commerce and industry minister Anand Sharma told reporters
here today. He said exports have suffered due to recession in the
US, Europe and Japan. He said inspite of the economic crisis "Our growth stood
at 6.7 per cent and hope to sustain the rate of growth though
there is slowdown in exports".
RBI to come with quarterly policy review on October 27.Amid expectations that the Reserve
Bank may keep its monetary stance unchanged, the central bank
will come out with its second quarter review of the credit
policy for the current fiscal on October 27.
Meanwhile,Union Home Minister P Chidambaram
today said the Centre would extend all possible assistance to
Chhattisgarh Government in its fight against Naxalism.
"The Centre is committed to fight Naxalism. We would
provide all possible help to the state government in its
efforts to eradicate the left-wing extremists completely," he
told reporters here.
The Home Minister hailed the state government's efforts
to fight Maoists and said all steps to provide succor to kin
of security men killed in fight against Naxalism have been
taken.
Earlier, Chidambaram, who arrived this morning in a
special aircraft, called on Governor E S L Narsimhan at Raj
Bhawan and met Chief Minister Raman Singh at the Mantralaya
and discussed anti-naxalite campaign and other security
issues.
The state government has upped its offensive against the
outlaws, killing seven of them in a joint operation with the
CRPF in Dantewada district recently.
Chidambaram also paid tributes to slain security
personnel killed in encounters with Naxals.
On the other hand,Mounting new attacks on militant
hideouts in Pakistan, a US drone fired missiles killing 12
extremists in a house in North Waziristan close to the Afghan
border.
The drone fired several Hellfire missiles at the militant
hideout, suspected to belong to Afghan Taliban warlord
Jalaludin Haqqani at Danday Darpakhel near Miranshah, a key
town in North Waziristan Agency.
Nine militants were killed instantly in the attack late
last night, while three bodies were pulled out of the debris
today, according to local reports.
It was not immediately known if any of the sons or close
aides of the Afghan warlord were in the house when it was hit
by the missiles. Haqqani holds considerable clout in Khost and
Paktia areas in eastern Afghanistan which border Waziristan.
All those killed are believed to be Afghans. The Haqqani
network is a powerful group based in northwest Pakistan
closely linked to Al-Qaeda and known for its ruthless and
sophisticated attacks, including an assassination attempt on
Afghan President Hamid Karzai in 2008.
The Haqqani network specially Jalaludin's eldest son
Sirajuddin has now become the focus of attention of the
American forces, after the killing of Tehrik-i- Taliban chief
Baitullah Mehsud.
"D Subbarao, Governor, Reserve Bank of India will release
the Second Quarter Review of the Annual Policy Statement
2009-10 on Tuesday, October 27, 2009," RBI said in a release.
Recently, Finance Minister Pranab Mukherjee had said in
Kolkata that he will not prescribe tight monetary policy.
The Reserve Bank Governor had said RBI will not withdraw
monetary stimulus unless sure of sustained economic recovery,
even though inflationary pressures are there in the economy.
RBI started loosening money supply from October last year
to mitigate the impact of the global financial crisis on the
Indian economy, prompting banks to cut interest rates.
So far, the RBI has cut short-term lending rate (Repo)
by 4.25 per cent, short term borrowing rate (Reverse Repo)by
2.75 per cent and the cash reserve ratio, the amount which the
banks have to keep with the central bank by 4 per cent.
The Centre for India & Global Business (CIGB) at Judge
Business School hosted the university's first ever conference
entirely focused on the Indian film sector and its rapidly
expanding role in the global creative economy.
Titled "Globalisation of Indian Cinema: Opportunities for
the West," the by-invitation-only event was hosted by CIGB in
partnership with Screen East and the North Screen Partnership,
Blood Orange Media and the Cambridge Film Trust.
Speaking on the sidelines of Indo-Africa Pharma
Business meet, Sharma referred to sectors like automobile and
pharmaceuticals which did well by registering double digit
growth.
Earlier inaugurating the Business Meet, Sharma said the
global economic recession which emanated from the capitalist
world has demonstrated the vulnerability of the developed
economies which had thrived in the absence of effective
regulatory mechanism.
"It is also a wake-up call for all of us in the
developing world to act together and to provide for greater
South-South cooperation", he said and added that this is the
time for India and Africa to build on our bonds of history to
develop a vibrant economic engagement.
The International Conference on 'Peaceful Uses of Atomic
Energy' is part of the year-long programme to mark the birth
centenary of Homi Jehangir Bhabha, the founder of the
country's nuclear programme.
Besides a host of nuclear scientists, the conference will
be attended by Mohammad ElBaradei, Director-General of the
International Atomic Energy Agency.
Bhabha was the President of the first International
Conference on this subject held in Geneva in 1955.
The scientists will review the progress achieved in the
field of nuclear energy over the last five decades and
deliberate on the future challenges in peaceful use of atomic
energy.
Besides the Prime Minister, the inaugural session would
be addressed by ElBaradei, Finance Minister Pranab Mukherjee
and President of the Indian Nuclear Society P Rama Rao.
Besides a host of nuclear scientists, the conference will
be attended by Mohammad ElBaradei, Director-General of the
International Atomic Energy Agency.
Bhabha was the President of the first International
Conference on this subject held in Geneva in 1955.
The scientists will review the progress achieved in the
field of nuclear energy over the last five decades and
deliberate on the future challenges in peaceful use of atomic
energy.
Besides the Prime Minister, the inaugural session would
be addressed by ElBaradei, Finance Minister Pranab Mukherjee
and President of the Indian Nuclear Society P Rama Rao.
The conference is being organised by the Department of
Atomic Energy in association with the International Atomic
Energy Agency and the Indian Nuclear Society.
Right time for Bollywood to engage with Hollywood: Experts
Now is the ideal time for the
Indian film industry to engage with the West, according to
experts from Bollywood and Hollywood speaking at a major
conference at the University of Cambridge.
More than 50 people, primarily practitioners from the UK
and European film industry, attended the event, and included
guest speakers such as noted Indian actor Anupam Kher, Patrick
von Sychowski, COO, AdLabs; Parminder Vir, Executive Producer
and Media Consultant; Partho Sen-Gupta, an independent film
director; and Simone Ahuja, Principal, Blood Orange Media, and
Film Director.
Foreseeing deeper engagement with Hollywood, the speaker
said the Indian film industry was well placed for such global
linkages as the rapid growth of the Indian economy creates an
affluent and savvy middle class seeking to watch world-class
movies.
At the same time, well-funded producers like Reliance Big
Entertainment were being courted by cash-strapped Hollywood
studios.
Kher asserted that this is the "golden age" of the Indian
film industry, as it gains more in self-confidence and
prepares to engage the Western world on its own terms.
Commenting on his company's USD 1 billion plan to
co-develop and co-produce movies with Hollywood heavy hitters
like Steven Spielberg, Patrick von Sychowski of Reliance Big
Entertainment explained that his company was one among others
that are attempting to develop a success formula that combines
the professionalism of the West and the creative talent of the
East to systematically produce cross-border films.
Parminder Vir explained that the Indian cinema which for
decades had operated as a parochial cottage industry was
finally becoming more professional and its players are
acquiring a global mindset as they internationalise their
operations.
She boldly predicted that over the next decade, the
Indian film industry would have a global socio-economic impact
akin to what the Indian IT outsourcing industry achieved in
the 2000s.
n a panel discussion titled "How to Build and Orchestrate
Transnational Creative Networks?" and moderated by Judge
Business School Professor Jaideep Prabhu, the speakers
addressed key business, legal, and social-cultural issues that
could make or break cross-border co-production deals.
They noted that while Chinese movies like 'Crouching
Tiger, Hidden Dragon' had achieved huge international success,
the Indian film industry was yet to produce a global
blockbuster.
But everyone agreed that it was a matter of time before
India started producing a steady stream of world-class movies
that leveraged win-win creative partnerships with the West.
Professor Arnoud De Meyer, Dean of Judge Business School
said: "After this event, I have become convinced that the
Indian film industry is poised to play a bigger role in the
global creative economy.
"India possesses a wealth of talent and resources, the
audience has become more demanding and that leads to better
products, and the Indian movie-making industry has become more
professionalised.
"Anupam Kher told us that it had evolved from a
close-knit brotherhood to a professional group. But Anupam was
also right in stressing that making a good movie is all based
on a good script, tolerance for flexibility and a sense of
enjoyment.
"I came to the symposium with some apprehension about
Indian movies, but Anupam's passion has convinced me to go and
see some of them.
Steel Ministry to focus on expansion, modernisation
The Steel Ministry will focuss on expanding production and modernising manufacturing units under a two-phase capacity building programme.
After achieving success in curbing rising steel prices under its 100-day agenda, the ministry has planned massive enhancement of production capacity and modernisation of the existing steel manufacturing units as future agenda, Union Steel minister Virbhadra Singh told PTI today.
Singh said that the target is to increase production capacity from 56 million tonnes annually now to 124 MT per year in the first phase, which would come to end by 2011-12, he said.
The production will further multiply in the second phase, which would be of another two years, the minister added.
In reply to a question if many steel projects were hampered due to non-cooperation from the state governments by not making available land and fulfilling other requirements, Singh answered in negative.
States have their own interest like getting royalty from new steel manufacturing units but on the whole there has been no complaint of non-cooperation from the state government, he said.
On global financial crisis, he said India was not effected by the economic recession in steel. Production of steel has increased by three per cent and the gross domestic consumption of steel in India has risen by 3-5 per cent when the entire world is battling economic meltdown, Singh added.
India's services sector most favourite among foreign investors
India attracted $ 2.14 billion FDI in the services in the first four months of the current fiscal, the highest among all sectors.
Despite the economic downturn, the country managed to attract $ 3.47 billion foreign direct investment (FDI) in July, while it was $ 2.24 billion in the year ago month, according to official data.
India's total FDI inflow during April-July 2009 was $ 10.49 billion, down 15 per cent from $ 12.32 billion in the same period previous year, the data said.
According to an UNCTAD report, the FDI in India may erode sharply from the record $ 42 billion in 2008 with trans-national corporations (TNCs) going slow on expansion plans following the global financial meltdown.
The services sector, including financial and non-financial segment, attracted 20 per cent of the total foreign direct investment inflows in the April-July period.
It was followed by housing and real estate sectors that attracted $ 1.41 billion investments. The telecommunications sector attracted investments worth $ 993 million.
The highest FDI of $ 4.55 billion came from Mauritius followed by the US and Singapore in April-July 2009.
The government recently approved formation of an investment promotion firm 'Invest India', where it will partner the states and industry, to help attract foreign investors and provide them a hassle-free entry.
State PSUs drain Rs 31,000 cr from exchequer
The state-owned public enterprises incurred losses to the tune of Rs 31,548 crore in 2006-07, with the Karnataka government doling out
the maximum grants at Rs 6,140 crore to its PSUs.
The State Level Public Enterprises (SLPEs) in West Bengal bled the most, losing Rs 439.53 crore, the National Survey on SLPEs for 2006-07 said.
The survey, which was released earlier this month, found Delhi SLPEs also suffering losses of Rs 143.49 crore. Other states where these units were not doing well included Himachal Pradesh, Punjab and Meghalaya.
"In view of the losses being incurred by SLPEs, the state governments have been giving grants and subsidies to them to tide over their financial problems," the survey said.
The states which give huge grants to these companies include Andhra Pradesh (Rs 4,975 crore), Tamil Nadu (Rs 4,219 crore), Haryana (Rs 3,807 crore), Gujarat (Rs 3,383 crore), Maharashtra (Rs 2,727 crore), Punjab (Rs 1,505 crore) and Rajasthan (Rs 1,254 crore).
In all, there were 837 functional SLPEs as on March 31, 2007, employing 18 lakh employees, the survey said.
RBI tells banks to do a realty check
25 Sep 2009, 0407 hrs IST, ET Bureau
MUMBAI: No central banker wants to repeat the mistakes of Alan Greenspan, the former US Fed chief, whose loose monetary policies are blamed for the
subprime mess. With the first hint of a bubble in the local property market, the Reserve Bank of India (RBI) has told banks to watch out for pitfalls while giving loans to builders.
In a communiqué to bank CEOs on Thursday, RBI has said: "It has been observed that some of the companies operating in the real estate sector have significant exposure in the form of advances, investments, etc to their subsidiaries and other group or related entities...As a matter of prudence, banks may meticulously assess the inherent group risk of their borrowal accounts falling under the purview of real estate sector."
Real estate firms, whose stocks have rebounded as property prices firmed up in key markets like Mumbai, often lend to and invest in group companies — a practice that makes such loans risky for banks. These less creditworthy group entities also raise money against guarantees from the parent firm or promoters, pledge stocks and cut structured deals with foreign investors who get the right to take over the company in the event of default.
But the regulator, according to one of India's biggest builders Niranjan Hiranandani, may be worried about certain isolated cases. "RBI is an efficient regulator. This circular addresses a particular problem rather than a general sectoral trend," said the managing director of Hiranandani Constructions. Indeed, there have been cases where local banks have been kept in the dark about deals that the realtor has struck with foreign investors.
The RBI note comes at a point when banks have resumed lending after a year-long lull. New loans extended by banks rose Rs 56,000 crore between July and September against a drop of Rs 7,400 crore from April to June. According to a city-based loan broker, a good slice of this money has gone to builders. But senior bankers feel that lenders are doing the necessary due diligence.
"This is just a cautionary note from RBI. Most banks are already following this philosophy," said Canara Bank chairman A C Mahajan.
RBI, widely perceived as one of the most conservative central banks in the world, has been apprehensive of property bubbles ever since the Asian meltdown of 1997. As property emerged as an asset class among Indian investors in recent years, RBI hiked the loan risk weightage for banks — a measure which required lenders to have more capital to give the same loan. It also tightened home loan margin norms, which led banks to cap the loan at 80% of the property value.
In the coming weeks, realtors will try to figure out the possible reasons that led RBI to issue the circular. "Since RBI has come out with a directive, industry bodies like NAREDCO and BAI would look to know the root cause behind it," said Rajeev Talwar, group executive director of DLF. "Some banks," Abhisheck Lodha, director, Lodha Developers, "may have a large exposure to a particular real estate group, and this can expose the whole system to a big risk."
It's evident that RBI is closely monitoring the stunning recovery by real estate companies, many of which are back from the brink. A year ago, these companies had forced mutual funds to roll over bonds, made banks restructure loans and borrowed at as high as 25% interest to stay afloat. A few, which had borrowed against stocks, almost lost control of the company. Today, they are back in business.
The RBI note is specifically aimed at the large firms. It says,"....while assessing the loan requirements of large builders/land developers, they (banks) may carefully analyse the financial credentials/viability of the borrowers on a consolidated basis supported by the consolidated accounts/position of the group. They may also examine the financial credentials/viability of the relevant unconsolidated related entities such as special purpose vehicles (SPVs)."
RBI's unstated concern may the nature of deals that these SVPs have entered into. In the past five years, the Indian real estate sector has received close to $20 billion foreign direct investment, a chunk of which has come into multiple SPVs floated by builders to promote special projects. Tagged with this money, mostly in the form of quasi debt, are tough conditions, which local builders have to meet to avoid loan recall and litigations.
Navi Mumbai SEZ asks govt to relax norms
18 Sep 2009, 0043 hrs IST, Amiti Sen, ET Bureau
NEW DELHI: Mukesh Ambani-promoted Navi Mumbai special economic zone (SEZ) has asked the government to relax the pre-condition of making the
1,234-hectares zone contiguous before issuing approval letters to companies interested in setting up units there.
The government will examine the proposal in a meeting of the board of approval (BoA) — a group of senior government officials from various ministries such as commerce, finance and agriculture, which approves new SEZ proposals and various related activities — scheduled early next month, a senior official in commerce department said. The Navi Mumbai SEZ was notified in November 2007. "The developer has also come up with alternative suggestions for establishing continuity," the official told ET.
The BoA approved the multi-product SEZ in March 2007 on the condition that the developer constructs all the required underpasses and over-bridges to ensure contiguity before units are established in the zone. As per the government's instructions, the developer is expected to construct three road over-bridges (flyovers) and five vehicular underpasses for providing connectivity.
Navi Mumbai SEZ has proposed that it should be allowed to construct two skywalks instead of the flyovers. The BoA is scheduled to meet on October 5.
Op-Ed Contributor
Two First Steps on Nuclear Weapons
Moscow
YESTERDAY, President Obama presided over the United Nations Security Council meeting that passed a resolution seeking to strengthen the international commitment to limiting the spread of nuclear weapons. A week ago, he announced that the United States will not deploy — at least, not in the foreseeable future — a missile defense site in Central Europe, including powerful radar in the Czech Republic and interceptor missiles in Poland.
Is there a link between the two events? I believe there is. Yet initial comments by many political figures and journalists have for the most part ignored this key relationship.
Instead, many are asserting that canceling the Eastern European missile defense was simply a concession to Russia, which must now reciprocate with a concession of its own. But President Dmitri Medvedev of Russia had already said last November that if the United States made changes to its missile defense plans, his nation would refrain from countermeasures like deploying its own missiles. Soon after President Obama's decision was announced, this position was reaffirmed.
Many of President Obama's critics in the United States insist that he "caved in" to Russian pressure, virtually leaving America's NATO allies to fend for themselves. There is nothing behind this argument other than the old stereotype of "bad Russia," a Russia that is always wrong.
Consider the merits of the case. Russia's leaders have been saying for some time that the fear of Iran developing effective long-range missiles in the near future was not grounded in fact. Now, after a thorough review by intelligence and defense officials, the United States government has come to the same conclusion, holding that Tehran is perhaps at least five years or even a decade away from such capacity.
The initial reaction by some politicians and commentators in Poland and the Czech Republic is no less odd. They seem to enjoy the role of a spoiler in relations between other countries and Russia. Voices of realism and caution are routinely rejected, and the opinion of their own citizens, who by and large have no use for radars and missiles, is brushed aside.
In Russia, President Obama's decision has been well received. It also met with support in Europe, with Chancellor Angela Merkel of Germany and Prime Minister Nicolas Sarkozy of France lauding it. The Polish prime minister, Donald Tusk, called it "a chance to strengthen European security." Indeed, if the president's decision is followed by further serious steps, it will provide an opportunity for us to strengthen global security as well as reach a new level of cooperation in ridding the world of nuclear danger.
At their meeting in Moscow in early July, Presidents Obama and Medvedev reaffirmed the relationship between strategic offensive weapons and missile defense. The two nations continue arms reduction talks and, judging by cautious diplomatic statements, they seem to be on course to complete them by Dec. 5, when the first Strategic Arms Reduction Treaty — which I signed with President George H. W. Bush in 1991 — is due to expire.
This week's United Nations meeting marks the next stage of progress. It is vital that other nations come away from the meeting believing that America and Russia are moving toward verifiable nuclear arms reductions, and that by the time the Nuclear Nonproliferation Treaty review conference is held at the United Nations next May, they will have made progress toward the eventual elimination of nuclear weapons.
Unless they show the world they are serious, the two major nuclear powers will be accused, again and again, of not keeping their word and told that if it is acceptable for 5 or 10 countries to have nuclear weapons as their "ultimate security guarantee," why should it not be the case for 20 or 30 others?
It is vital that the two presidents themselves monitor the negotiations closely, sometimes plunging into minute details. I know from experience how difficult it is to deal with such technical details on top of constant political pressures, but it is necessary to avoid misunderstandings that could undermine trust.
Some questions that will need to be clarified are evident now. The American secretary of defense, Robert Gates, has said that the SM-3 missiles that are to be used under the new missile-defense plan could later be perfected to intercept long-range intercontinental missiles. Yet he has also raised the possibility of cooperating with Russia on missile defense. To me, these two ideas seem incompatible. The sooner such issues are cleared up the better.
As I see it, there is only one way to move forward: Washington should agree to the Russian proposal for a joint assessment of missile threats. Let the experts from both countries have a frank discussion that would reveal which threats are real and must be dealt with, and which are imaginary. This would help to avoid misguided projects like the Polish-Czech missile shield, and could help move us from a state of mutual deterrence to a goal of minimum nuclear sufficiency for self-defense.
This is a big agenda. Realistically, it would take two or three years of intense negotiation. But Russia and the United States must set big tasks for themselves. What is needed is nothing less than a change in the strategic relationship between the two major nuclear powers — in their own interests and in the cause of world peace.
Past Coverage
- A U.S. Envoy Makes a Case for the U.N. (September 22, 2009)
- Russia's Reaction on Missile Plan Leaves Iran Issue Hanging (September 19, 2009)
- In Face of U.S. Shift, Europeans Recalibrate (September 18, 2009)
- U.S. Upgrades Colombia's Human Rights Score (September 12, 2009)
- http://www.nytimes.com/2009/09/25/opinion/25gorbachev.html?bl
Op-Ed Contributor
A Long-Term Fix for Medium-Range Arms
LAST week President Obama announced his decision to discard plans for antiballistic missile shields in Eastern Europe in favor of smaller interceptors on ships and planes. But the key issue is not where the United States should place its defenses. The problem is that medium-range missiles exist at all. In all the confusing debate on this topic, Mr. Obama has overlooked one simple option: outlaw these missiles altogether.
Granted, that seems unlikely to happen. Yet that's what the superpowers did in 1987, when President Ronald Reagan and the Soviet leader Mikhail Gorbachev signed the intermediate-range nuclear forces treaty. The treaty required the two countries to destroy ground-launched ballistic and cruise missiles with ranges of 500 to 5,500 kilometers. It remains the only treaty to have eliminated an entire class of nuclear arms systems.
Now Presidents Obama and Dmitri Medvedev of Russia together should urge all countries to sign the treaty. In other words, we should transform it from a bilateral treaty into a multilateral one.
To be sure, no treaty can prevent countries like Iran and North Korea from developing such missiles if they really want them (as they do now). Arms control is never that potent, and bad actors, by definition, act badly.
But still, a global treaty signed by more than 100 states would stigmatize the testing and developing of such missiles. And that would be a good start.
After all, the world's a whole lot better off with the Nuclear Nonproliferation Treaty, even with its non-signers and violators, than it would be otherwise. In 1963, five years before the signing of that treaty, President John F. Kennedy predicted that by 1975 there would be 15 to 20 nuclear-armed states. A generation later, we're nowhere near that dire forecast.
We now need a new taboo against testing, developing and deploying medium-range missiles. What was permissible needs to be become deplorable.
The good news is that Presidents Obama and Medvedev, in proposing a global intermediate nuclear forces treaty, would head off a common criticism of the nonproliferation treaty — that big powers are allowed such weapons while little ones are not.
The big boys banned these weapons from their arsenals with the treaty 22 years ago, even after the United States had tested and developed the Pershing II and the Soviet Union the SS-20, along with sundry short-range missiles.
In contrast to most arms control issues, in this case the prescription is simple: Open the treaty to all countries, and urge them to sign it. The hard work has already been done by the Reagan and Gorbachev teams. All the language is written, the terms defined, the verification provisions established or easily modified. What took seven years on the bilateral treaty would take only a few hours to flip into a global one.
Finally, proposing such a treaty would give the American and Russian presidents a welcome (photo) opportunity to propose something jointly. Even conservative arms control skeptics in the United States and Russia would have nothing to gripe about, since their countries gave up these weapons more than two decades ago.
Weapons of mass destruction carried aboard ballistic missiles constitute a dire threat, and getting rid of them entirely would make the world a bit safer. That's one point on which everyone in the fractious debate over missile defense should agree.
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