Tuesday, January 18, 2011

Sonia meets PM, Cabinet reshuffle likely later this week Read more: Sonia meets PM, Cabinet reshuffle likely later this week

NEW DELHI: Congress president Sonia Gandhi today met Prime Minister Manmohan Singh amid speculation that a reshuffle of the Union Council of Ministers is on the cards later this week.

Gandhi met Singh at his residence here. She was accompanied by her political secretary Ahmed Patel.

The meeting comes a day after the Prime Minister met President Pratibha Patil.Though it was described as a routine meeting, there were indications that a re-jig of the UPA ministry was possible later this week.

Sources said that Singh may utilise the opportunity to inject fresh blood into the Cabinet.

Ministers like Sharad Pawar and Kapil Sibal are holding more than one portfolio and are likely to shed some of them.

There are some vacancies including that created by the resignation of A Raja, Prithviraj Chavan and Shashi Tharoor.

The feeling in the Congress was that major portfolios like Finance, Home, Defence and External Affairs may not be disturbed in the proposed exercise which is mainly aimed at filling up the vacancies.

Pawar, who holds Agriculture, Food and Consumer Affairs Ministries, has earlier expressed his intention to shed some of his burden.

Similarly, Sibal who has the charge of HRD, Telecom and Science and Technology, may shed Science and Technology. He is said to be passionate about retaining HRD in which he has initiated certain reforms and would like to pursue them.

He is unlikely to be disturbed from Telecom which was given to him after Raja's resignation in the wake of 2G spectrum allocation scam.

Union Ministers C P Joshi (Rural Development) and Vilasrao Deshmukh (Heavy Industry) may be drafted for party work.

DMK, which has a vacancy in the Cabinet after Raja's exit, may get a berth. The name of T R Baalu, a former minister, is among those mentioned from the party as a replacement for Raja.

Sudip Bandhopadhyay, a Trinamool Congress leader, may get a berth as a representative of the largest constituent after Congress in the UPA.

There has been no representation to three states in the Union ministry -- Chhattisgarh, Goa and Manipur.

Gandhi had detailed deliberations with Singh more than twice in the last week, apparently to plan out the exercise, which would be the first after the UPA-II came to power in May 2009.

Read more: Sonia meets PM, Cabinet reshuffle likely later this week - The Times of India http://timesofindia.indiatimes.com/india/Sonia-meets-PM-Cabinet-reshuffle-likely-later-this-week/articleshow/7310257.cms#ixzz1BNqcZQYE

Monday, January 17, 2011

Rupee up by 4 paise against dollar in early trade

MUMBAI: The rupee strengthened by 4 paise to Rs 45.48 against the US dollar in early trade at the Interbank Foreign Exchange today.

Dealers said a firm opening in the equity markets supported the rupee sentiment. Besides, dollar weakness against other Asian currencies and the euro overseas also supported the rupee.

The Bombay Stock Exchange benchmark Sensex rose by 152.11 points to 19,034.36 in early trade.

The rupee had ended at a seven-week low of 45.52/53 a dollar in the previous session.

Read more: Rupee up by 4 paise against dollar in early trade - The Times of India http://timesofindia.indiatimes.com/business/india-business/Rupee-up-by-4-paise-against-dollar-in-early-trade/articleshow/7309527.cms#ixzz1BMSthJfw

Sensex gains 152 pts in early morning trade

MUMBAI: The Bombay Stock Exchange benchmark Sensex rose by 152 points in early trade today on buying by funds on impressive corporate earnings and firm global cues.

The 30-share index rose by 152.11 points to 19,034.36 points.

The broad-based National Stock Exchange Nifty index moved up by 58.35 points to 5,713.10 points.

Brokers said firming trend in global markets and better earnings announced by IT giant TCS last evening mainly influenced the trading sentiment.

On global front, the Hong Kong's Hang Seng index was up 0.22 per cent, while the Japan's Nikkei traded lower by 0.40 per cent in the morning trade today. The US Dow Jones Industrial Average ended 0.47 per cent up yesterday.

Read more: Sensex gains 152 pts in early morning trade - The Times of India http://timesofindia.indiatimes.com/business/india-business/Sensex-gains-152-pts-in-early-morning-trade/articleshow/7309518.cms#ixzz1BMSgOeXN

Rupee at 4-week low against dollar

MUMBAI: The rupee today fell by 18 paise to trade at a four-week low of Rs 45.54 against the US currency in early trade, weighed down by dollar's gains against the major world currencies.

Dealers said rupee weakened due to dollar's gains against other Asian currencies overseas and weak opening on the domestic stock markets.

The rupee had depreciated by 12 paise against the US currency to close at Rs 45.36/37 in the previous session.

Meanwhile, the Bombay Stock Exchange benchmark Sensex fell by 81.06 points to 18,779.38 in the opening trade today.

Read more: Rupee at 4-week low against dollar - The Times of India http://timesofindia.indiatimes.com/business/india-business/Rupee-at-4-week-low-against-dollar/articleshow/7302267.cms#ixzz1BHJn4rjV