Wednesday, July 8, 2009

India to take up satphones ‘spoofing’ with Pakistan

NEW DELHI, July 8: Ahead of the meeting between foreign secretaries of the two countries in Egypt next week, India on Wednesday said it would take up with Pakistan the issue of spoofing of satellite phones used by terrorists, including the perpetrators of the Mumbai attack. “We always take up (issues) whenever something bothers us or Pakistan. We always take up (issues) mutually,” External Affairs Minister SM Krishna told reporters here. He was reacting to reports that Pakistan was “spoofing” Thuraya satellite phones used by terrorists, making it difficult to track their movements. “Whatever Pakistan does, India has been closely monitoring those events,” Krishna said.

According to media reports, transmitters have been set up across the Line of Control and the international border dividing India and Pakistan, blanking out signals from the Thuraya phones used by terrorists. These transmitters, India suspects, could not have been set up without Pakistan’s tacit support. This makes it difficult for Indian security agencies to locate the Thuraya phones and detect infiltration or follow the movement of known Pakistan-based terrorists. “We have said that Pakistan will have to visibly exhibit its resolve to fight terror... These will be factored in our response,” Krishna replied, when asked about Pakistan’s commitment to handling terror. “It is not the question of my satisfaction. It is the question that we have to live as neighbours,” he said, when asked whether he was satisfied with the moves by Pakistan against anti-India terror outfits. Krishna’s comments come barely a week before Foreign Secretary Shivshankar Menon meets his Pakistani counterpart Salman Basheer in Sharm el-Sheikh on July 14 for a review of Islamabad’s action against anti-India terrorism directed from its soil. The foreign secretaries’ review will set the stage for the meeting between Prime Ministers Manmohan Singh of India and Yousaf Raza Gilani of Pakistan on the sidelines of the Non-Aligned Movement summit in Sharm-el-Sheikh.
The review will determine the tone and tenor of the talks between the two leaders, official sources said, when asked about the possibility of resuming composite dialogue between the two countries in the near future. (IANS)

Tuesday, July 7, 2009

Markets are trading in a narrow range.


Date : Jul-07-2009 14:42

The markets are still trading higher with a narrow range. The investors are now actively participating in the markets today and want to bet safely. Further the positive opening of the European markets failed to cheer the investor’s sentiments today. The significant buying is seen among the FMCG, Auto, Capital Goods and Consumer Durables stocks. However, Metal, Oil & Gas and Realty stocks are still remained under pressure.

The BSE Sensex is now trading above the 14,100 mark and the NSE Nifty around the 4,200 mark.

The overall market breadth is negative as 903 stocks are advancing while 1549 stocks are declining in BSE.

ITC reported the top gainer from the BSE Sensex pack, as it is trading up by (6.55%) at Rs. 210.75 while ONGC reported the top loser trading down by (2.81%) at Rs. 1,040.25.

At 2.33PM the BSE Sensex is trading up by 169.97 points at 14,213.37 and the NSE Nifty is trading higher by 43.20 points at 4,208.90.

The BSE Mid Cap increased by 29.02 points to 4,947.90 while the BSE Small Cap fell by 38.97 points to 5,523.90.

The FMCG index is trading with gains of 85.49 points or 3.70% at 2,397.98. Gainers from this pack are Marico Ltd trading up by 7.50% at Rs76.70 along with ITC by 6.93% at Rs211.50, United Spirits by 4.41% at Rs867.35, Godrej Cons by 4.29% at Rs170.05, Britannia by 2.50% at Rs1610 and Colgate Palmolive by 2.45% at Rs624.

The Auto index is trading up by 160.41 points or 3.60% at 4,620.37. Leading the rally are Exide Inds trading up by 6.56% at Rs68.25 followed by Hero Honda Motors by 5.70% at Rs1436.10, Mahindra and Mahindra by 5.28% at Rs747.90, Bajaj Auto by 3.41% at Rs988 and Ashok Leyland by 2.56% at Rs30.05.

The most active shares on NSE are Unitech trading at Rs 75.55 with a total traded quantity of 48358121 shares followed by Suzlon Energy trading at Rs.97.25 with a total traded quantity of 37299307 shares.

On the global markets front, the European markets are now trading higher as the FTSE 100, DAX and CAC 40 index are trading up by (0.40%), (0.33%) and (0.26%) respectively.

Monday, July 6, 2009

India allocates Rs 500 cr for rehabilitation of Tamils

New Delhi, Jul 6 (PTI) In a special gesture, India today allocated Rs 500 crore for rehabilitation of the internally displaced ethnic Tamils and reconstruction of Northern and Eastern Sri Lanka devastated by two decades of war.

The allocation was made in the general Budget 2009-10 presented by Finance Minister Pranab Mukherjee in Parliament.

While announcing the allocation, he said the government is committed to ensuring that the Sri Lankan Tamils enjoy their rights and legitimate aspirations within the territorial sovereignty and framework of the country's constitution.

He said MEA was working closely with Sri Lankan Government to ensure rehabilitation of the displaced people.

Speaking on the issue later, Foreign Secretary Shivshankar Menon said the allocation has been made as per the commitment made by Prime Minister Manmohan Singh.

PTI

Highlights of Union Budget 2009-10

New Delhi, July 6 (PTI) Following are the highlights of Budget 2009-10.

* IT exemption limit raised

* Limit raised by Rs 15,000 for sr.citizens (65 yrs & above)

* Limit raised by Rs 10,000 for general tax payers & women

* 10% surcharge on personal income tax scrapped

* Fringe Benefit Tax, Commodities Transaction Tax abolished

* Corporate Tax unchanged; Minimum Alternate Tax hiked to 15%

* Legal services brought under Service Tax net

* Cosmetic & plastic surgery become taxable services

* Rs 3472 cr for Commonwealth Games, up from Rs 2112 cr

* LCD TVs to become cheaper; Set-Top boxes costlier

* Stimulus for print media for another six months

* Branded jewellery to become cheaper; excise duty goes

* Govt plans to bring back economy to high growth of 9%

* GDP growth dipped to 6.7% in FY'09

* Fiscal deficit up from 2.7% to 6.

Soruce:PTI