PM Manmohan Singh likely to meet Obama in London next month

WASHINGTON: Prime Minister Manmohan Singh is expected to have his first meeting with US President Barack Obama on the sidelines of the G-20 meeting in London next month as the two countries move rapidly to take their relationship to a "new level".

New Delhi and Washington are also discussing the likelihood of a visit by Secretary of State Hillary Clinton to India "in the near future," foreign secretary Shivshankar Menon said here.

"I hope that both (Obama and Singh) would be meeting. We are looking forward to that. It's an important conversation," he told reporters, wrapping up his four-day visit to the US.

Singh, who underwent a coronary by-pass surgery on January 24 and has since been recovering fast, will travel to London for the G-20 Summit on the global economic crisis on April 2 and discuss ways to meet the challenge.

"I think, we both (India and the US) are satisfied that we have achieved so much in this relationship. But we both want to do much more. That's why are taking it to a new level," Menon, who held talks with Clinton and senior state department officials on various issues during his visit, said.

Source:http://timesofindia.indiatimes.com

EC issues notice to Mulayam over 'cash distribution'

NEW DELHI: The Election Commission on Thursday slapped a notice on Samajwadi Party leader Mulayam Singh Yadav for alleged distribution of cash by his party workers at a Holi function.

Taking cognisance of video footage telecast by television channels, the EC served a notice on the SP leader and sought a reply by March 14, an EC spokesman said.

Earlier, a report from Lucknow said that the EC has also sought a report from the district magistrate on the incident.

The news regarding distribution of money at a "Holi Milan" programme in Yadav's native Saifai in Etawah district was aired by some news channels.

According to the footage, Mulayam Singh's supporters distributed Rs 100 currency notes among a large number of people at the gathering, in his presence.

"It is apparent that the distribution of money in your presence has been made with a view to soliciting votes and support for yourself and your party," the statement said.

The model code of conduct provides that all parties and candidates shall avoid scrupulously all activities which are 'corrupt practices'.

Soruce:http://timesofindia.indiatimes.com/EC-issues-notice-to-Mulayam-over-cash-distribution-/articleshow/4256338.cms

Sensex climbs 215 points in opening trade

MUMBAI: The benchmark Sensex surged by a little over 215 points in early trade on heavy buying by funds following a strong rally in the global markets.

The Bombay Stock Exchange barometer, which had lost over 165.42 points to close at 40-month low in the previous session on Monday, spurted by 215.15 points, or 2.63 per cent, to 8,375.55 points.

All the sectoral indices, led by banking and metal stocks, were trading in the positive zone with gains up to 3.64 per cent.

The wide-based National Stock Exchange's Nifty rose by 59.70 points, or 2.32 per cent, to 2,632.85 points in opening trade.

Marketmen said fund-based buying in shares, specially in banking stocks, following a smart rally in US markets supported the positive trend on domestic markets.

Expectations of further dip in inflation, to be released by noon, also supported the rise in the stock prices.

US stocks on Wednesday ended marginally higher following a rally a day earlier. The Dow Jones Industrial Average closed higher by 3.91 points at 6,929.36 points after the index touched the 7,000-point psychological level.

Source:http://timesofindia.indiatimes.com/

Inflation falls to 2.43%

NEW DELHI: Inflation fell to more than a six-year low of 2.43% for the week ended February 28 against 3.03% in the previous week mainly on account of a fall in prices of manufactured products and some food items, justifying the RBI's rate cuts.

The wholesale price index stood at 6.21% during the corresponding week a year ago.

During the week, prices of steel ingots, batteries and nylon yarn declined.

Prices of maize, arhar and moong declined by one% each. However, prices of fuel remained unchanged at the previous week's level.

Source:http://timesofindia.indiatimes.com/Business/India-Business/Industrial-growth-turns-negative-in-Jan-contracts-by-05/articleshow/4254901.cms