Thursday, October 21, 2010

2 lakh in India die of malaria annually: Lancet

Malaria kills nearly 2 lakh people in India every year, including 80,000 children below the age of 15 years, according to a new study published in reputed medical journal The Lancet.

The report contradicts the findings of the World Health Organisation (WHO) which had put the number of deaths due to malaria in India at 15,000.

The Lancet report says that 90 per cent of the deaths were recorded in rural areas, of which 86 per cent occurred at home without any medical attention. The study, which began in 2002, covered 6,671 areas, each with about 200 households.

The research, led by teams from the office of the Registrar General of India, Centre for Global Health Research at St Michael’s Hospital and University of Toronto, Canada, found that Orissa reported the highest number of deaths — 50,000. The other “high-malaria” states are Chhattisgarh, Jharkhand and Assam.

“In the absence of other diseases, on current death rates, a newborn in Orissa has 12 per cent chance of dying from malaria before the age of 70 years, as against 2 per cent for the average Indian baby,” Prof Prabhat Jha, co-lead author of the study, told The Indian Express.

“The WHO relies on properly diagnosed malaria patients for the estimates, which can be misleading,” said Jha.

But WHO’s India representative, Dr Nate Menabde, said its methodology is “universal”. “The method of verbal autopsy is suitable only for diseases with distinctive symptoms and not for malaria. Malaria has symptoms common with many other diseases and cannot be correctly identified by the local population. The use of verbal autopsy for malaria may result in many false positives.

In this method, deaths due to fever from any cause are likely to be misinterpreted as malaria in areas with high incidence. In areas with low malaria incidence, the symptoms are difficult to distinguish and would result in overestimates of malaria deaths,” said a statement issued by Menabde.

“The limitations of verbal autopsy, and the implausibly high case incidence rates implied by the malaria mortality estimates, indicate that the findings of the study cannot be accepted without further validation,” it added.

But Jha countered that the “WHO itself uses verbal autopsy for estimating malaria. So why aren’t they accepting it this time?”

Source:http://www.indianexpress.com/news/2-lakh-in-India-die-of-malaria-annually--Lancet/700930

Coal India IPO subscribed 15.28 times

The initial public offer (IPO) of India's largest coal producing company Coal India (CIL) has seen huge response from investors and has received bids for more than USD 53 billion worth of equity shares as against issue size of USD 3.5 billion on last day.

The issue has been subscribed more than 15.28 times, including major contribution from qualified institutional buyers (QIBs) followed by non-institutional investors (NIIs) and retail investors.

Coal India IPO subscribed 15.28 times

For the reserved portion of QIBs (which closed on Wednesday and was subscribed 24.7 times), foreign institutional investors put in bids for USD 27.5 billion worth of equity shares followed by domestic financial institutions and mutual funds with USD 10 billion and USD 1.4 billion, respectively. (USD 1 = Rs 44)

The reserved portion of non-institutional investors was subscribed 25.4 times and retail 2.31 times while employees' portion was subscribed just 0.1 times.

Institutional investors have gone all out for Coal India with the IPO getting highest-ever demand received by an Indian issue. QIB generated demand for CIL was at Rs 1,73,398 crore with 100% margin while Rs 1,88,923 crore with 10% margin in case of Reliance Power IPO, which launched in 2008. In case of Reliance Power, QIBs' portion had subscribed 30.68 times.

A price band of the issue is at Rs 225-245 a share. Prasad Baji of Edelweiss Securities said that the market needs to treat CIL as an utility play. According to him, CIL’s fair value is at Rs 316 per share as coal prices are unlikely to come down in India. "Our assessment of fair value is Rs 316 based on a DCF valuation. Even on EV/EBITDA basis we are getting at Rs 300 price so there is some amount left on the table in this issue," he said.

However, Paresh Jain of Angel Broking differs. According to Jain, CIL’s fair value is at Rs 294 per share, which is based on the DCF valuation methodology. "We feel that the downside from the issue price is capped. There are no anchor investors in this particular issue. Most of the long only issue funds that need a good chunk of the stock would have to come and purchase it from the open market. That would give a boost to your stock price. I would advice investors to hold on to the stock because clearly our country is deficit in coal. Going forward as you see the washeries coming in, you will see earnings growth much faster 2013 onwards," he reasoned.

It would be the largest ever IPO by an Indian company. All issue proceeds will be received by the selling shareholder (GoI), which stake will be 89.99% post the issue. The offer shall constitute 10% of the post offer paid-up equity share capital of company.

However, Baji says, 26% mining profit share is a key risk, not just for Coal India but for the entire mining space. "In case of Coal India, there are certain mitigating factors. They spend 4% of their revenues on social activity. There is some case here that the management has been speaking to set it off against any kind of distribution of profits." he explained.

Book running lead mangers to the issue are Citigroup Global Markets India Private Limited, Deutsche Equities (India) Private Limited, DSP Merrill Lynch Limited, ENAM Securities Private Limited, Kotak Mahindra Capital Company Limited and Morgan Stanley India Company Private Limited.

US official hints at lifting nuclear curbs on India

In the first official pronouncement, the US on Thursday said it wants “export control policies” to reflect India “as a partner, not a target”, indicating the lifting of curbs during President Barack Obama’s visit next month. HT had first reported that a US announcement of the end of advanced nuclear technology sanctions against India was expected (Hi-tech N-sanctions against India to go, October 21).

“...Working together to adapt and reform the export control policies to reflect the realities of the 21st century partnership, so that India is treated as a partner and not a target,” US under secretary of state William Burns said after his meeting with external affairs minister S.M. Krishna and foreign secretary Nirupama Rao.

Burns and US assistant secretary for South Asia Robert Blake are meeting Indian officials to firm up the deliverables during Obama’s visit.

Burns said Obama has a “rich agenda” during his visit that encompasses a range of issues, from agriculture to expansion of defence cooperation to counter-terrorism cooperation. The US is also committed to working with India to realise the full potential of the historic civil nuclear deal, he added.

“In all these areas, there is extraordinary promise and opportunity and we are determined to continue working together and... I believe we are making good progress,” he said.

Terming Obama’s visit a “historic moment” in India-US ties, Burns said America had deep strategic interest in India’s emergence as global power.

Burns will also meet former national security adviser M.K. Narayanan, who had an active role in the civil nuclear deal, before he leaves on Friday.

HT

Food inflation falls to 15.53 pc for the week ended

STAFF WRITER 12:2 HRS IST

New Delhi, Oct 21 (PTI) Food inflation declined to 15.53 per cent for the week ended October 9, on improved supplies and declining prices of certain vegetables, especially, potato.

Food inflation fell by 0.84 percentage points to 15.53 per cent during the week, from 16.37 per cent in the previous week, government data showed.

On an annual basis, potato prices eased by 50 per cent and onions became cheaper by 8.62 per cent. However, other essential items like cereals, milk and fruits continued to remain dearer.

Experts said the impact of adequate monsoon was slowly becoming visible on prices of essential items, as supply side pressure was easing after good harvest.

On an annual basis, cereals prices have risen by 5.88 per cent. While pulses became costlier by 4.44 per cent on a yearly basis, wheat and rice prices increased by 7.01 per cent and 4.72 per cent, respectively.

'G-20 should promote robust economic growth

K J M Varma

Beijing, Oct 21 (PTI) China today said it hopes that the the summit of Group of 20 (G-20) nations in Seoul next month would help promote global economic growth in a robust, sustainable and balanced manner.

"The Seoul G-20 summit, the first of its kind to be held in an Asian country and an emerging market, is important for the development of the G-20," said Chinese Foreign Ministry spokesman Ma Zhaoxu at a news briefing.

Ahead of next month's summit, finance ministers of G-20 grouping are meeting in South Korea over the next few days, against the backdrop of US concerns over China's keeping its currency 'artificially undervalued' to push exports.

While the US wants China to appreciate its currency yuan in line with market forces, the Chinese government is resisting the move as it would hurt the country's exports.

Bihar voters queue up, polling jumps by 9% since 2005 Read more: Bihar voters queue up, polling jumps by 9% since 2005

PATNA: In what's being seen as an indicator of growing voter awareness in Bihar, the polling percentage went up to 55% from 46% in 2005 in 47 constituencies that went to polls on Thursday. With heavy security deployment, much like the 2005 elections, the voting was peaceful.

''It was an incident-free day,'' said chief electoral officer Sudhir Kumar Rakesh, adding that calculations were still on and the voter percentage may actually go up.

"A record 82% of 8068 polling booths were covered by Central paramilitary forces,'' said an election official. Of these, 108 were in Naxal-affected locations.

DGP Neelmani said only 161 people were arrested. A lone candidate, JD-U's Neeraj Kumar Babloo, was booked for manhandling a presiding officer in his Chhatapur constituency in Supaul district. Nine booths reported poll boycott, and these were attributed to '' lack of development work'' , said an official press release. SK Rakesh thanked all political parties and candidates for ensuring peaceful polling. He described the voter turnout as ''excellent'' .

''It was due to the relaxed norms which allowed voters to vote even if there were minor errors in the electoral rolls or photo ID-cards," he said, and added, ''Allowing all the eligible members of a family to vote on the basis of the photo ID-card of one of them also helped voters vote in larger numbers.

Rakesh also thanked the security forces for ''unprecedented'' measures, including aerial patrolling, to instil confidence among the voters. ''This, too, contributed to heavy turnout,'' he said. Madhubani recorded 52% polling, Supaul 53%, Araria 53%, Kishanganj 57%, Katihar 57%, Madhepura 52% and Saharsa 57%. "The only mishap was when the presiding officer of booth no 123 at Pranpur in Katihar district died of heart attack,'' said Rakesh, and added that the polling process was not interrupted.

JD(U)'s Babloo allegedly manhandled the presiding officer at booth no 177. '' We have lodged a case against the JD(U) candidate who will be arrested soon,'' the DGP said. Bablu is absconding. The polls were boycotted at booth no 113, 114 (Benipatti), 178 (Rajnagar), 173 and 174 (Alamnagar), 226 (Sonebersa ), 192 (Jokihat) and 104 (Bahadurganj ).

Read more: Bihar voters queue up, polling jumps by 9% since 2005 - The Times of India http://timesofindia.indiatimes.com/india/Bihar-voters-queue-up-polling-jumps-by-9-since-2005/articleshow/6790426.cms#ixzz133ZwZQzG

UPSC defence, naval academy entrance exam 2011 on April 17

New Delhi: The Union Public Service Commission (UPSC) will hold the National Defence Academy and Naval Academy Examination (I), 2011 on April 17, 2011 for admission to Army, Navy and Air Force Wings of NDA for 127th Course and Naval Academy for 89th Indian Naval Academy (INAC) Course commencing from December 30, 2011.

Only unmarried male candidates born not earlier than 2nd January, 1993 and not later than July 1, 1995 are eligible.

Minimum educational qualification for Army Wing of National Defence Academy is clearing Class 12 in a 10+2 pattern of school education or equivalent examination conducted by a State Education Board or a university.

For Air and Naval Wings of National Defence Academy and for 10+2 (Executive Branch) course of Naval Academy, the minimum qualifications include passing Class 12 in a 10+2 pattern of school education or equivalent examination with physics and mathematics, conducted by a State Education Board or a university.

Candidates who are appearing in 12th class under 10+2 pattern of school education or equivalent examination can also apply for this examination.

Candidates can apply Online using the link www.upsconline.nic.in. Detailed instructions for filling up on line applications are available on the website.

Candidates, who wish to apply off-line, must apply in the Common Application Form devised by the commission for its examinations, which can be purchased from the designated head post offices/post offices throughout the country.

In case of any difficulty in obtaining application forms from the designated post offices, the candidates should contact the concerned Post Master or UPSC's Forms Supply Monitoring Cell over telephone or fax.

The last date for all offline applications to reach UPSC, either by hand or by post, speed post or by courier is November 15, 2010. However, in respect of candidates residing abroad or in certain remote specified areas, the last date for receipt of application by post/speed post only (not by hand or by courier) is November 22, 2010.

All online applications can be filled up to November 15, 2010 till 11.59 p.m. after which the link will be disabled.

For details regarding the syllabus and scheme of the examination, centers of examination, guidelines for filling up application form etc. aspirants must consult the detailed notice of the examination published in the Employment News/Rozgar Samachar dated October 16, 2010. They can also visit the UPSC website.

In case of any guidance/information/clarification regarding their applications, candidature etc. candidates can contact UPSC's Facilitation Counter near gate 'C' of its campus in person or over telephone during working hours.

Ancient tunnel unearthed in Mumbai

Mumbai: A tunnel thought to be 200 years old has been unearthed in the premises of the General Post Office in south Mumbai, officials said on Wednesday.

Believed to be an ancient escape route, the tunnel heads towards Colaba in south Mumbai, said Maharashtra Postal Services Director Abha Singh.

"From whatever we have seen, it is a very well-maintained passageway, around 20 feet below the ground, full of mud in view of the ongoing monsoon," Singh told the sources.

Though it is not yet known when the tunnel was built, another tunnel found a few metres away was around 160 years old.

An official of the Brihanmumbai Municipal Corporation confirmed that it was not an old or forgotten drainage line. "It is indeed a tunnel, and in surprisingly good condition too."

The Archaeological Survey of India (ASI) is assessing the discovery.

"We at GPO are in an area which is deep in ancient history and heritage, and this is a treasure that must be preserved," Singh said.

While declining to spell out plans, she felt the tunnel could be converted into a walk-in museum where people could go and soak in history.

Covered under a cement structure with a heavy iron lid and huge flowerpots placed on it, the tunnel was discovered a couple of days ago in the garden in front of the main GPO building.

When the pots were shifted and the lid was opened, it revealed a rusted iron ladder leading below. Only one postal employee, Devji Waghela, gathered courage to take a torch and climb down.

"We shall first examine it in detail and only then we can make any comments about the historical significance. My officers shall make a preliminary assessment in the next couple of days," M.S. Chauhan, ASI's superintending archaeologist, told the sources.

The tunnel has become a subject of intense debate and speculation among experts, historians and officials.

Some claim it could be from the Napoleon era and could have been an escape route for the British garrisons stationed here who feared an attack by the French Army.

Napoleon was defeated in 1815 and the famous Bombay Fort was demolished by the British in 1862.

Singh said though the GPO building was built between 1904 and 1913, there were no records to show that engineers had come across the tunnel.

"This is like a pre-centenary year (2013) gift for GPO... We shall treasure it forever," she said. IANS