Steve Jobs launches Apple's iPad 2

Belying all rumours of him being extremely ill, Apple founder and CEO Steve Jobs CEO on Wednesday night launched second generation iPad 2. ( iPad 2 launch: Apple's shares climb 1.4% ) 

Jobs made his presentation after he was given a standing ovation by a hall full of journalists and analysts from across the world who were probably happier seeing him on stage than iPad2. 

But the new iPad almost stole Jobs' thunder. With price tags beginning at $499 for the 16 GB model, it runs on a new processor A5 which will double the speed and graphic display by nine times. At $899, the highest priced is the 64 GB model with WiFi and 3G. 

Jobs pointed out iPad 2 will have as many as five models that are priced below $799 tag that its just launched rival Xoom from Motorola bears. 

Almost as if inspired by Jobs who is said to be battling severe illness and has shed a lot of weight off late, iPad 2 is a lot thinner than the current iPad (one third), even thinner than the iPhone 4. 

It bears two cameras at back and front for video conferencing; a HDMI port; a smart microfiber case cum stand that is also used to clean it; and will come in both black and white variants. 

iPad 2 will start shipping from March 11 across 26 countries that doesn't include India. In US, both AT&T and Verizon will retail it with bundled data plans. 

Jobs took potshots at all rivals who he said were flummoxed by the success of iPad and could only try to follow what has come to be "best-selling gadget ever". 

"A lot of people have tried to copy this, said Jobs while making reference to sales figures of rivals such as Samsung which claims to have put out more advanced tablets in the market following iPad's launch a year ago. 

"Many have said this is the most successful consumer product ever launched. Over 90% market share... our competitors were flummoxed," quipped Jobs. 

Pooh pooing another rival Google Android's Honeycomb operating system, Jobs said they had only 100 apps to show on it. In contrast, Apple iPad had 65,000 apps just for photography alone. 

"We recently paid out over $2 billion to developers in total. They have earned over $2 billion from selling their apps on the App Store," said Jobs. 

Apple also shipped out 100 millionth iPhone recently. 

The presentation was attended among others by Apple's COO Tim Cook and design head and Jobs' friend Jony Ive who according to unconfirmed reports is believed to be having a 

tussle with the company's board regarding his impending relocation to London. 

Times of India had earlier reported that the much-hyped tablet was accidentally listed on Amazon hours ahead of its official launch before being pulled down. 

Interestingly, while Apple usually gives a makeover to each of its products in a year's time, there is buzz that the company might actually upgrade the just-launched iPad 2 with a far more advanced third generation tablet by the Fall this year itself. 

According to The Economist, however, iPad could see a dent in its market share this year despite projections that Apple could sell 40 million units in 2011 as against 15 million it sold in nine months of 2010. 

Other tablet manufacturers, especially those based on Google's Android operating system, are expected to erode Apple iPad's market share which stood at 90% of total tablet sales last year. Here are 10 most expected tablets to watch out for in 2011 . 

What may be worrisome for Apple is the speculation that by 2015 the company's market share could fall below 40%, said the magazine. 

This year is likely to see a huge number of Android-based tablet PCs flooding the market, with almost every mobile and PC maker jumping in the fray with their alternatives. 

Industry watchers claim that of these, the ones that are most likely to pose a challenge to iPad will be RIM's Playbook and Motorola's Xoom which has just been launched in the market. 

Read more: Steve Jobs launches Apple's iPad 2 - The Times of India http://timesofindia.indiatimes.com/tech/personal-tech/gadgets-special/Steve-Jobs-launches-Apples-iPad-2/articleshow/7614734.cms#ixzz1FVXO85o0

'Priyanka says no to Shahid'

We recently broke the story on February 25 that Piggy Chops had fled to the US, to get away from the disappointing turnout of 7 Khoon Maaf and her erratic relationship with Sasha. 

Even though, the actress left on a sour note with Sasha, he decided to wave the white flag and plead with her to return home for his birthday. Unfortunately, no attempts to convince her seem to have worked. 

A source tells us, "After their most recent difference in opinion, Priyanka left for the US with the main purpose of avoiding Shahid's birthday. However, they both regretted their headstrong nature, which tends to drive them apart every now and then. 

When the time of the birthday bash approached, Shahid began missing her and implored Priyanka to return." 

The source went on to add that Sasha persistently tried to convince Piggy Chops to come back right until the morning of the party. 

A mutual friend of the couple tells us, "One of the main problems is that Shahid does not express his feelings and Priyanka likes to be told she is special. 

Shahid does not find the need to go on and on about the obvious. He wanted to ask her to stay but she left to LA in a huff. Once there, Shahid tried to get her back in time for his birthday party but it was too late." 

Since Piggy was missing in action, Sasha's good friend and confidante, Mubina Rattonsey stepped up to the plate to take on the duties of hostess. 

An invitee tells us, "She made sure everyone was comfortable. She offered drinks to all the guests and made sure the glasses were filled to the brim. She was the hostess of the party, which is a role that we'd have expected Priyanka to play." 

Ironically, Piggy Chops and Bebo were the only two female heroines that were not at the bash. All his other leading ladies from Genelia D'Souza to Sonam Kapoor showed up. 

Even Rani Mukherjee and Anushka Sharma were present. In comparison the turn-out of leading men was rather low, with only Ranveer Singh, Ritesh Deshmukh, Anil Kapoor and Karan Johor being the big names. 

Shahid's best friends choreographer Ahmed Khan and director Siddharth Malhotra were rather quiet throughout the evening, because they too were missing Ms. Piggy Chops. 

Read more: 'Priyanka says no to Shahid' - The Times of India http://timesofindia.indiatimes.com/entertainment/bollywood/news-interviews/Priyanka-says-no-to-Shahid/articleshow/7592042.cms#ixzz1FLMxdela

Markets open on a quiet note

Markets opened on a soft note on cues from the global market scenario. Markets across the globe fell as Lybia's escalating tensions worried investors.

Sensex opened down 66 points at 18,229. The index recoevered thereafter and was up 13 points at 18,309.

Nifty advanced marginally to 5,474.

US markets slipped on Tuesday - taking in the global losses after remaining shut on Monday. Dow dropped 1.4% to 12,213. Nasdaq slumped nearly 3% to 2,756. S&P 500 was down 2% at 1,315.

Asian markets were mostly in red this morning. Hang Seng was down 106 points at 22,884. Nikkei slipped 21 points at 10,644. Straits Times dropped 1% to 2,991.

Back home on Tuesday, the Sensex ended down 142 points at 18,296 after a session of volatility. Nikkei ended down 49 points at 5,469.

Libya's political turmoil, New Seland's earthquake and the Indian Prime Minister's request to the Lok Sabha Speaker to proceed with the JPC formation to investigate into the burgeoning 2G spectrum scam were looked at by investors.

Markets will continue to look out for Monday's Budget session. Indices may turn volatile today, ahead of the derivatives expiry on Thursday.

BSE realty index gained 1.5% in morning trades to touch 2,081. Oil, auto and metals were also in green. However, IT index slipped 1% to 6,230.

Infosys shed 1.6% to Rs 3,092. Wipro, MphasiS, TCS and HCL Tech were down 0.5% each.

Stocks to watch out for the day would be Kotak Bank, Mahindra Finance, Petronet, Idea Cellular, Sun Pharma and NMDC.

Sterlite gained 2% at Rs 172. HDFC, Reliance Infra, Hero Honda and Hindalco were up 1-2% each.

Market heavyweight, Reliance was up 0.8% at Rs 994. 

Jaiprakash Associates, Tata Motors and Bharti Airtel were in green.

However, banking stocks were in red. SBI slipped 1% to Rs 2,700, followed by ICICI Bank at Rs 1,023 and HDFC Bank at Rs 2,139.

Bajaj Auto, Tata Power and Mahindra & Mahindra shed marginally in trades.

Source:-http://www.business-standard.com/india/news/markets-open-onquiet-note/126585/on

Coal fired powergen down but not out

According to Roman Portuzek, director of the Ministry of Industry & Trade’s Electrical Power Engineering Department, coal will continue to be a “necessary part” of the Czech Republic’s heat and power sector to at least 2050.

Speaking at the keynote address of the COAL-GEN Europe 2011 conference and exhibition, which kicked off today, Mr. Portuzek reaffirmed that coal would remain an important fuel source for the country.

This is despite plans to cut the country’s energy intensity by two-thirds, as well as emissions, especially nitrogen oxides (NOx) and sulphur dioxides (SOx) by 2050, primarily through an increase in its nuclear power base.

The Czech Republic, however, has a relatively unusual generation mix in that large-scale combined heat and power (CHP) plants represent a third of the country’s installed capacity and provide around 20 per cent of the electricity supply. The majority of these CHP plants are fuelled by coal.

It is also the third biggest electricity exporter in Europe, behind France and Germany, and Mr. Portuzek was keen to emphasize that it was important that it remained so.

Studies conducted by the Ministry of Industry & Trade clearly showed that is the CHP plant sector was reduced the Czech Republic would become an importer of electricity. Thus the country is likely to invest in high efficiency, coal fired CHP production.

Mr. Karel Krizek, director of Central Engineering at CEZ Group, echoed the sentiment that coal would continue to have an important role to play in generating power.

CEZ, which is a major utility in the Central and Eastern European region, currently has a 74 per cent share in the Czech power generation market and supplies 44 per cent of the electricity in the country.

As of 2009, 55 per cent of its generation assets were either black coal or lignite fired power plants, primarily powered by coal from its own mine.

However, Mr. Krizek confirmed that CEZ had plans to half its carbon emissions - from 0.63 tCO2/MWh in 2009 to 0.32 tCO2/MWh by 2025 - by replacing the majority of its black coal fired power plants with other fuels such as gas, renewable sand nuclear, and upgrading many of its existing lignite units with new high efficiency technology.

The third keynote speaker, Dr. Ira Jaroslav, director of Business Development of Skoda Power, now part of Doosan Power Systems, made it clear that “coal was here to stay” in Europe despite the impact of the recent economic downturn on new build coal.

He highlighted the changing market and acknowledged that it was essential that coal had to become cleaner and more efficient.

In the longer term he said carbon capture and storage (CCS) was key but still required greater clarity on legislation, and that in the short to medium-term improving the performance of existing plants was the right pathway to follow.

Dr. John Topper, managing director of the IEA Clean Coal Centre, completed the keynote line-up, giving a more global view of coal fired power generation and the approach to its decarbonisation.

Citing the IEA World Energy Outlook, published late last year, he said that in the period 2008-2035 emerging economies would dominate the growth in demand for all fuels, with the demand for coal in the OECD actually falling.

Conversely the coal demand in China would escalate – 600 GW of new capacity which exceeds the current combined capacity of the US, Europe and Japan.

He also highlighted the significant impact improving plant efficiency can have on reducing carbon emissions.

“It would be possible to achieve a 1.35-1.7 billion tonnes/annum of CO2 reduction by moving to current state-of-the-art pulversied coal plants. This represents 5 per cent of global anthropogenic emissions, which is highly significant.”

However, he acknowledged that deep cuts in carbon emissions would only be achieved with CCS. A point also made by Dr. Jaroslav.

He also highlighted China’s growing experience with CCS, especially in coal gasification, and said that greater international collaboration on R&D and technology transfer would be critical to moving CCS from demo to commercial-scale.

Source:-http://www.powergenworldwide.com/index/display/articledisplay/0544928853/articles/powergenworldwide/coal-generation/coal-generation-equipment/2011/02/coal-fired_power_generation.html

Bent Tree Wind Farm Commences Wind Energy Production

Alliant Energy subsidiary Wisconsin Power and Light Company (WPL) has commenced commercial operations at its Bent Tree Wind Farm in Minnesota, US.

The wind farm is WPL's second operated and owned wind farm, and comprises 122 turbines with a capability of producing up to 201MW of emissions-free wind energy, enough to power about 50,000 households.

WPL president John Larsen said that the addition of Bent Tree has enabled the company to meet and exceed Wisconsin's existing Renewable Portfolio Standard.

WPL's first wind farm, the Cedar Ridge Wind Farm, is a 68MW wind farm in Fond du Lac County, which commenced operation in 2008.

Source: Bent Tree Wind Farm Commences Wind Energy Production - Power Technology

Specialist Energy’s Hayward Tyler lands new business worth £5.9 mln - Proactiveinvestors (UK)

Specialist Energy Group (LON:SEGR) told investors that its wholly-owned subsidiary Hayward Tyler Group landed £5.9 million in new business in January.

Hayward Tyler has more than 60 per cent of the installed market for BCPs, which are fitted in power stations all over the world and are used to drive water around boiler plants

Hayward Tyler, one of Britain’s oldest engineering firms, makes boiler circulating pumps (BCPs). It is also a very rare commodity - an export success story. It has more than 60 percent of the installed market for BCPs, which are fitted in power stations all over the world and are used to drive water around boiler plants.

Following up a strong December, in which it brought in deals worth £5 million, Hayward Tyler has done even better in January. It has won a number of contracts in India, China, Europe and the United States.

“We are pleased to report that the strong momentum in our core markets in Asia, Europe and the US highlighted towards the end of 2010 is continuing into 2011,” chief executive Ewan Lloyd-Baker said.

“In particular, we see China and India continuing to offer significant growth opportunities for the group.”

It won a contract with Larsen and Toubro (L&T), a large Indian construction group, to deliver three supercritical BCP units for the Koradi project in Nagpur – where L&T is building a 1,980 megawatt thermal power plant.

Hayward Tyler has won a new order from the Dongfang Boiler Group, one of the largest boiler suppliers in China. The company has had contracts with Dongfang before and now it will sell the Chinese firm two more supercritical BCPs. The pumps will be used at the Hanchuan power plant in China’s Hubei province.

It also won two major oil and gas projects with a Norwegian offshore equipment maker, Bjorge Eureka AS. The £1.5 million deal is for five Sea Water Lift Pump (SWLP) and Fire Water Pump (FWP) motor units for use in the Gudrun and Ekofisk North Sea projects.

In the US it secured a contract to overhaul a BCP at the Conesville power station in Ohio - Hayward Tyler has installed equipment in almost 70 percent of North America’s nuclear power plants.

Specialist Energy Group (LON:SEGR) told investors that its wholly-owned subsidiary Hayward Tyler Group landed £5.9 million in new business in January.

Source: Specialist Energy’s Hayward Tyler lands new business worth £5.9 mln - Proactiveinvestors (UK)

Wind Power Mexico :: Green Power Conferences

Haga clic aquí para ver los detalles en español

This event will be simultaneously translated in Spanish & English

La conferencia será traducida simultáneamente en Inglés y Español

US$ 2.1bn was invested in clean energy in Mexico last year, 86% of which was in wind

Wind Power Mexico will provide stakeholders with the opportunity to meet with domestic and international market-leaders, and the all important policy-makers, to set the agenda for dramatic expansion in the Mexican wind market. Mexico is poised to play a leading role in Latin America’s rapid wind energy growth and with ambitious targets in place, it’s critical to establish market share now.

3,000 MW of wind by 2014

Mexico’s nascent wind power industry is working to install up to 3GW of wind power generation by 2014, six times more than the 0.5GW currently online, according to industry leaders. The government is launching a range of economic incentives to breathe life into Mexico’s huge wind potential and with a large number of projects already in production, now is the time to invest in this market.

The Mexican government has a target of 2.5GW of wind to be installed by 2012. This goal is considered to be realistic due to over 3GW of construction permits that have been awarded by regulators to private developers.

Wind Power Mexico gives you the opportunity to meet face-to-face with the leaders shaping the future of the market. The event will bring together the key stakeholders in the value chain to discuss how to drive this dynamic market forward and the policies and legislation that need to be put in placeto ensure its continued growth.

Source: Wind Power Mexico :: Green Power Conferences

U.S. asks duped sham varsity students to look for options - General news

Washington: U.S. immigration authorities have asked duped students of a sham university in California, most of them from India, to contact them directly to find out what options they have to pursue their studies in America.

Over 1,500 students of California-based Tri Valley University (TVU), some 90 percent of them from India, mostly Andhra Pradesh, face the prospect of deportation following the closure of the school on charges of visa fraud unless they can get admission in another institution.

"Immigration and Customs Enforcement (ICE) has taken further steps to ensure SEVP (Student and Exchange Visitor Programme)-certified schools and former Tri-Valley students have the information that they need to make informed decisions in light of the ongoing investigation," spokeswoman, Lori K. Haley said Wednesday.

ICE has posted an advisory on the SEVP link on ICE's website -- http://www.ice.gov/sevis/tri-valley-110118.htm -- to direct students how to contact an SEVP representative to obtain information about their options.

"When you call, SEVP will provide you with your options including the option to depart from the United States without an otherwise possibly applicable bar to re-admission in the future," says the advisory issued to the TVU students.

Lori said due to the ongoing investigation, ICE is not discussing the details related to the Tri Valley case. SEVP terminated the records of all F-1 students enrolled at TVU as of Jan 18, after ICE shut down TVU following an investigation.

According to a federal complaint filed in a California court in January, the university helped foreign nationals illegally acquire immigration status.

The complaint alleged that while students were admitted to various residential and on-line courses of the university and on paper lived in California, in reality they "illegally" worked in places as far away as Maryland, Virginia, Pennsylvania and Texas.

For a student to maintain an active immigration status, they must show proof that they are making reasonable progress toward completing coursework and physically attend classes.

Source: U.S. asks duped sham varsity students to look for options - General news

Ties with U.S. on course: Islamabad

ISLAMABAD: Amid reports suggesting that the U.S. has put bilateral meetings with Pakistan on hold till Islamabad releases its “diplomat” arrested for gunning down two Pakistanis in “self-defence', the spokespersons for both countries maintained that the relationship was on course.

While there were strong indications that contact between the U.S. State Department and the Pakistan embassy in Washington had been snapped and upcoming bilateral engagements were in peril, the official line from both countries sought to contradict this. Maintaining that “we continue to have contacts with the Pakistanis'', U. S. embassy spokesperson flagged Monday's meeting of Ambassador Cameron Munter with President Asif Ali Zardari as a case in point. The spokesperson also quoted from the daily briefing of Assistant Secretary of State P. J. Crowley in Washington on Monday when he said in response to similar questions that “we continue to have contacts with our Pakistani counterparts, and we continue to emphasise the importance of resolving this case''.

As for Pakistan, Foreign Office spokesman Abdul Basit said relations were anchored in mutual interest and mutual respect. “Both our countries are committed to further strengthening the bilateral relationship to our mutual benefit. Our relations are mature enough to navigate through difficulties. We must not lose focus of the strategic imperatives of Pak-U.S. relations.''

Asked what the U.S. proposed to do if Pakistan does not yield, the embassy spokesperson remained non-committal saying “we will continue to work with the Pakistani government to resolve this issue''. But , questions are being asked about the fate of the upcoming ministerial-level trilateral conference of Afghanistan, Pakistan and the U.S. later this month; particularly since Secretary of State Hillary Clinton is understood to have cancelled a scheduled meeting with Foreign Minister Makhdoom Shah Mahmood Qureshi on the sidelines of the Munich Security Conference last week.

Adding to the woes of the Pakistan government, the provincial dispensation in Punjab — where the shooting took place and the case is registered — dug its heels in on Tuesday; asserting that it would not succumb to any kind of pressure.

Source:-http://www.hindu.com/2011/02/09/stories/2011020965242100.htm

ONGC finds shale gas in Bengal

Oil and Natural Gas Corporation (ONGC), the country’s biggest energy explorer, has struck shale gas reserves in its maiden well in West Bengal. This is the first time shale gas has been discovered in sedimentary shale gas rocks outside the US and Canada.

“ONGC created an exploration landmark when gas flowed out from the Barren Measure shale at a depth of around 1,700 metres, in its first R&D well, RNSG-1, near Durgapur at Icchapur, West Bengal,” the state-run company said in a statement.

Though the well is still under assessment, the breakthrough is significant, as India is the first Asian country where gas was discovered from shale outside the US and Canada. “The well was drilled down to a depth of 2,000 metres. The Barren Measure Shale, which is the main target, was encountered from 985 to 1,843 metres,” the statement said.

Exploration of shale gas, an unconventional energy source, has witnessed a surge in the US and Canada in recent times and is making substantial contribution to total gas production. In the US, shale gas contributes nearly 17 per cent of total gas produce.

The R&D project, which involved drilling of four wells in the Damodar Basin — two wells in the Raniganj sub-basin in West Bengal and two wells in the North Karanpura sub-basin in Jharkhand, was operationalised with the help of Schlumberger. “The estimated expenditure is about Rs 168 crore and the total project is expected to be completed within 520 days,” ONGC said.

Source: ONGC finds shale gas in Bengal

Bulls beat the retreat

After a heady 2010, the bulls are on the backfoot in the New Year and the bears are on the prowl. Consider this: the Sensex soared 3,000 points in 2010 as foreign institutional investors, or FIIs, captivated by the India shining story, pumped in a record $29.4 billion into the equity markets. India will remain a good long-term bet, chorused the bulls. But a few weeks into 2011 and a palpable sense of gloom has descended on Dalal Street. The Sensex had shed 2,113 points in 2011 at the time of going to press and the FIIs have turned net sellers.

And traders are fretting that the markets may remain tentative awhile. So what is worrying the bulls? Most say the total paralysis of governance in New Delhi followed by the recent spate in corruption scandals have soured market sentiment. "Corruption and scandals are factors that are negatively affecting valuations and increasing the risk premium attached to investing in India," says Boston-based Punita Kumar Sinha, Senior Managing Director at Blackstone Asia Advisors, an FII investing in India. Global investors are typically very sensitive to governance issues in emerging economies.

"For any emerging economy, it is important to have a good governance record in order to pre-empt possible adverse reactions from international investors," says Siddhartha Sanyal, Chief India Economist at Barclays Capital.

Hong Kong-based Adrian Mowat, Chief Asian and Emerging Market Equity Strategist at JP Morgan, seconds Sanyal. The second half of 2010 was marred by scams, and Parliament's failure to pass any legislation, says Mowat, has gradually taken its toll on market sentiment. He hopes Parliament is allowed to conduct business during the Budget session. "If it does then political sentiment will improve. The prosecution of high-profile people accused of corruption will also improve confidence. Sadly, the expectation is that it will not happen," he says.

Punita Kumar Sinha, Senior Managing Director, Blackstone Asia Advisors

The government's hands may also be tied with Assembly elections in five states slated for 2011, worry analysts. "There could be some political compulsions," says Parul Saini, Executive Director at Singapore-based RBS Asia Securities. With the Assembly elections and the ongoing political stalemate around corruption, the Street does not expect progress on any politically sensitive reforms. "Given the upcoming elections in various states, it is possible that the Budget will continue to spend on subsidies," says Sinha.

Macroeconomic concerns are adding to the woes of the bulls. Galloping food inflation and hardening interest rates could derail the Indian economy in the short- to medium-term is the consensus in dealing rooms. The fears may not be entirely unjustified. On January 25, after announcing a 25 basis point (100 basis points make a percentage point) hike in repo and reverse repo rates, D. Subbarao, Governor, Reserve Bank of India, or RBI, stressed the dangers of "food and fuel price increases spilling over into generalised inflation". He added: "There has been a sharp rise in global commodity prices, which has heightened upside risks to domestic inflation."

The RBI has raised its inflation projection for March 2011 from 5.5 per cent to 7 per cent. "The inflation fears are justified," says Mowat. The prices of oil, agricultural products and metals are up 17 per cent, 16 per cent and 10 per cent, respectively, over the past three months, which, Mowat points out, is a threat to growth. "Oil exceeding $100 a barrel could be another negative for investors and overall business confidence," he says.

All the negative news could potentially take its toll on FII flows. So, could we see outflows from India? "We are expecting a slowdown but not a reversal," says Saini. According to him, it may be hard to replicate last year's situation. "As the economic recovery in the US takes hold, investor funds may flow back into equities there at the expense of emerging markets," he adds.

Agrees Sinha: "Clearly, there is a rotation happening. If the US economy continues to show signs of improvement, then some of the allocation could move out of emerging economies, including India." Developed markets, then, could outperform emerging markets such as India this year. "Developed markets are enjoying a cyclical lift, which for now seems more important than their still-serious structural issues," says Mowat.

This is bad news for Indian companies as their plans to raise capital from the primary market could be hit. Last year saw the highest ever mop-up of public issuance by Indian corporates worth about Rs 59,523 crore. In 2011, there are 100 public issues in the pipeline for the private sector alone. "The indicative IPO size from these public issuances is about Rs 50,000 crore," says a report from New Delhi-based SMC Global Securities, a brokerage firm. The government's $10-billion PSU divestment programme will also be impacted. "A slowdown in foreign flows does make a divestment process more difficult," says Saini.

Given the headwinds, then, expect the markets to remain edgy and nervous in the short term. But for the long-term investor, the rules of the game remain the same, say analysts. Every dip is an opportunity to accumulate quality stocks.

Source:-http://businesstoday.intoday.in/bt/story/factors-that-will-affect-stock-markets-sentiment/1/12850.html

Protesters defy military orders, hold anti-govt rally

Defying military orders to "go home", tens of thousands of protesters on Friday laid a siege to Cairo's central square clamouring for immediate ouster of embattled President Hosni Mubarak, who ignored mounting global pressure to step down saying it will plunge Egypt into "chaos".


Amid reports that the US is trying to broker a deal for a transitional government in Egypt headed by Vice President Omar Suleiman, massive crowds thronged the Tahrir Square, the hub of unrelenting 11-day protests that have claimed over 300 lives, for a "day of departure" rally against Mubarak, chanting slogans, bowing in prayer and waving national flags.

Under the close vigil of armed security personnel and ringed by armoured vehicles, some of the protesters carried bread, food, fruits and bottled water for those who stuck out at the Square overnight after days of violent clashes.

The protesters dubbed Friday's protest as the "day of departure" for 82-year-old Mubarak, who has ruled the country since 1981, while state TV called it the "day of allegiance" to the President.

Egyptian Defence Minister Hussein Tantawi, who is also Deputy Premier, along with top army officials visited the Square, where soldiers checked IDs and frisked protesters at entrances, to assess the situation, state TV reported.

Protest organisers had set the deadline for the President to quit by Friday, but he refused to bow to the pressure.

In an interview to ABC News, his first since the revolt began last week, Mubarak said he is "fed up" and wants to quit but fears that the nation will "sink in chaos" if he steps down at this stage.

"I am fed up. After 62 years in public service, I have had enough. I want to go," said Mubarak.

"If I resign today, there will be chaos," he said when asked about today's deadline by the protesters for him to quit and leave the country. "I don't care what people say about me. Right now I care about my country."

He said he could have fled the country like other Presidents did but he refused to do so. He said he was present in the presidential palace with his son Gamal.

Mubarak, earlier in a speech in front of Parliament, vowed he will remain President "as long as his heart is beating."

Meanwhile, The New York Times reported that the Obama administration is in talks with top Egyptian leaders to broker a deal for Mubarak's exit and establishment of an army-backed transitional government headed by Suleiman.

It quoted US officials as saying that under the proposal, the transitional government would come out with constitutional reforms to prepare the country for a free and fair elections in September.

Suleiman had on Thursday night demanded that the protests come to an end as he promised that the army would "not use any violence."

The Vice President said that he was ready to start dialogue with the opposition groups, including the Muslim Brotherhood, which has been banned since an attempt on the life of former President Jamal Abd-al-Nasir in 1954.

Muslim Brotherhood has said it is ready to hold talks on a "transition arrangement" in the violence-wracked nation on condition that Mubarak steps down.

"We have a single point demand that unjust, tyrant and corrupt Mubarak has to quit," Mohammed Badie, the chief spiritual guide of the Egyptian organisation, told Al Jazeera.

Banned for decades and treated as a pariah, the Muslim Brotherhood has suddenly shot into prominence and is within sight of its long-cherished dream of attaining power in a moderate secular country like Egypt.

The wave of protests have come as a boon to the organisation as it is now being recognised and playing an open role in the politics in Egypt.

The protesters, who want to put the "last nail in the regime's coffin", defied military orders to "go home" and were expecting a larger turnout of people on Friday than on Tuesday when over a million demonstrators had marched against the regime.

They have been angered further by the emergence in recent days of pro-Mubarak gangs - many suspected to be plain-clothes policemen - who have attacked anti-government demonstrators.

Prime Minister Ahmad Shafiq said there would be investigations into the acts of violence on Wednesday between pro-democracy and pro-Mubarak activists, which had claimed seven lives that day.

Faced with three days of violent clashes between anti- and pro-government groups, security forces intensified their campaign against violence.

Mubarak blamed opposition Muslim Brotherhood for the violence in Cairo and said "I was very unhappy (about violence)... I do not want to see Egyptians fighting each other."

On US President Barack Obama's apparent calls for his resignation, he said he told his American counterpart "You don't understand the Egyptian culture and what would happen if I step down now."

Mubarak, who previously announced that he would quit in September when the Presidential polls are scheduled, dismissed speculation about his intentions to anoint his son Gamal when he relinquishes power.

"I would never run away... I will die on this soil," he said.

As the turmoil deepened, foreign journalists have become targets of rampaging mobs, mostly those aligned with the embattled President. Journalists were beaten, bloodied, harassed and detained by raging men.

News channels reported that several journalists had been detained or forcibly confined to their hotels.

Nobel laureate and former IAEA chief Mohamed ElBaradei, who has joined the protests against the government, said Mubarak must go.

ElBaradei said Mubarak "should hear the clear voice coming from the people and leave in dignity."

Describing as "piecemeal" the concessions offered by Mubarak so far, he said "it's a question of trust, and the trust is gone."

There should be a year-long transition to democracy under a temporary Constitution with a presidential council of several people, including a military representative, he was quoted as saying by the media.

Last night, Suleiman offered more concessions to calm the uprising.

Appearing on state TV, he promised that neither Mubarak nor his son Gamal, who was widely seen as a possible successor, will run in September presidential elections.

He pledged to punish all those involved in violence and release innocent youths detained in anti-government protests.

He also said that violence against protesters Tahrir Square could have been the result of a conspiracy.

The state public prosecutor said officials, including the hated interior minister Habib al-Adly have been banned from travel and their accounts frozen pending investigations.

Toughening its stand, the US also asked Mubarak to immediately start meaningful steps towards transition.

"The time for transition ... is now. It's important that the world see some concrete steps towards meaningful change," White House Press Secretary Robert Gibbs told reporters.

Egyptian Prime Minister Shafiq dismissed the US demand, saying "'NOW' should not be given as an order to Egypt."

"President Mubarak should leave the presidency in an honourable way. He is leaving anyways within the coming few months, so there is no means for the 'NOW' orders," he told reporters.

Source:-http://indiatoday.intoday.in/site/Story/128759/top-stories/cairo-protesters-defy-military-orders-hold-anti-govt-rally.html

Hilton Worldwide plans 19 hotels in India in next five years

US-based Hilton Worldwide Hotel Group plans to develop 19 hotels in the next five years. The company's expansion strategy is primarily through management contracts. Six of these hotels are expected to commence operations in 2011. The hotel projects with approximately 3,000 rooms, are in various stages of development & spread across the country in a mix of tier I, II and III cities. The Group is launching operations of six hotel properties with around 1,000 rooms during 2011. The new projects consist of four Hilton hotels, one Doubletree by Hilton, one Hilton Garden Inn and one Hampton by Hilton. Currently, Hilton Worldwide manages three properties in India - Hilton Garden Inn, Hilton New Delhi and the newly added Hilton Mumbai International Airport.

Source:-http://www.projectsmonitor.com/HOTEL/hilton-worldwide-plans-19-hotels-in-india-in-next-five-years