Chinese along LoC? Top general sounds warning

NEW DELHI: A top Indian Army general has warned that India not only faces the threat from Chinese troops along the Line of Actual Control (LAC) with China but it could well extend to theLine of Control (LoC) with Pakistan due to the expansive Beijing-Islamabad military nexus. 

The massive build-up of Chinese military infrastructure all along the 4,057-km LAC, especially in the Tibet Autonomous Region, as well as the expanding Chinese footprint in infrastructure projects in PoK is by now well-documented. But this is the first time a senior Army commander has publicly expressed apprehensions about People's Liberation Armytroops actually being stationed along the volatile 778-km-long LoC between India and Pakistan. 

"It poses military challenges to India and not only along the Sino-Indian border but also along the LoC. And we hear many people today who are concerned about the fact that if there were to be hostilities between us and Pakistan, what would be the complicity of the Chinese. Not only because they are in the neighbourhood but the fact that they are actually stationed and present on the LoC," said Northern Army Command chief, Lt-General K T Parnaik, at a seminar in Jammu.

Source: http://timesofindia.indiatimes.com/india/Chinese-along-LoC-Top-general-sounds-warning/articleshow/7880378.cms

Slower Indian population growth may benefit economy

India's population grew at its slowest pace since independence in the decade to 2011, the government said on Thursday, a trend welcomed by some since it may lead to higher living standards and sounder public finances in a country with enough young people.

Unlike the advanced countries of the West or even Russia and China, where ageing or shrinking populations have sparked worries about the impact on economic growth, India has long sought to bring down population growth to a level it can handle.

Its population, pegged by the Census of India at 1.21 billion at the beginning of 2011, has been a drag on economic growth, with successive governments unable to find the schools, jobs or food productivity to match the demographic bulge.

The growth of 17.6% from 2001, the last time Indians were counted, compared with 21.5% in the previous decade, the preliminary census report said.

"Reducing the growth rate is our objective. What we already have is a large youth population without enough schools or jobs for them," said Abusaleh Shariff, chief economist at the National Council for Applied Economic Research.

"It (the decline) reflects the desire of even poor people to educate their children and for a better life. They know that having too many children will be counter-productive," he said.

India stands in contrast to neighbouring China, which faces the prospect of not having enough young people to support a fast-ageing population.

Beijing's strict one-child policy has brought down annual population growth to under 1% and the rate is projected to turn negative in another three decades.

India's population is projected to overtake China's by 2025 and its large youth population means it can look forward to a demographic dividend that includes ample supply of labour, rising productivity and plenty of younger workers to fund the pensions of those who have retired.

A decline in population growth means India's national income may break out of the trend of increasing just ahead of population growth, potentially freeing millions of dollars the government now spends on welfare schemes.

The census report showed literacy had improved during the decade by 9.2 percentage points to 74%.

But the number of females per 1,000 males in the 0-6 age group fell to 914 from 927 during the past decade, pointing to the continued practice of selective abortions.

The census data will be used by governments to design welfare schemes and calculate what funds should be set aside for food and fuel subsidies.

India will also use the census to issue a unique identification number to all its citizens and to target beneficiaries for welfare schemes, which it hopes will provide better access to such schemes and help it trim its subsidy bill.

"In the long term, in terms of social-sector schemes, the burden on the government will be less. That is the straightforward conclusion," said NR Bhanumurthy, an economist at the National Institute of Public Finance and Policy, referring to the slowing population growth.

Source: http://www.business-standard.com/india/news/slower-indian-population-growth-may-benefit-economy/130893/on

Sugar worth Rs 8,400 crore rots in Maharashtra

More than half the sugar produced so far this year in Maharashtra — about 3.4 million tonnes valued at Rs 8,398 crore — remains unsold. It is lying in the godowns of the state’s sugar mills, according to the Federation of Cooperative Sugar Factories in Maharashtra.

This has queered the pitch for relaxation of norms for levy-free sugar, which has to be sold the same month. The higher levy-free quota (LFQ) for January and February, allotted by the Centre, has not yet been used up. The LFQ for these two months was raised by 84.25 per cent and 17.39 per cent, respectively, over last year.

he total production in Maharashtra is estimated to tip the scales at 9.1 million tonnes before this year is out, which will be more than a third of the country’s total production.

“At the beginning of the crushing season, there was a carry-forward stock of 1.4 million tonnes. Mills have produced a further 5.1 million tonnes till now. Of the total 6.5 million tonnes, mills have sold only 3 million so far,” said officials at the state cooperation department and the Federation of Cooperative Sugar Factories in Maharashtra.

According to the state’s Cooperation Minister, Harshvardhan Patil, traders have not lifted sugar because of falling prices. “Mills are reeling under the widening mismatch between the production cost and ex-mill realisation.”

The LFQ, if not sold by the end of the month, gets converted into levy quota. This is akin to a penalty, since LFQ attracts an ex-mill rate of Rs 2,550 a quintal, against Rs 1,750 crore for levy quota.

Patil said a delegation, in a meeting with food and public distribution minister K V Thomas on Wednesday, demanded an increase in the time limit from one to three months for state nominees to lift the levy-free stock.

The problem has been accentuated because levy stocks are not being lifted either. Since there is no time limit to lift these stocks, state nominees do not purchase them.

Prakash Naiknavare, managing director of the federation, said the Centre is also being urged to allocate a reasonable quota for March and allow exports.

Sugar mills have decided to release the first advance of the cane price at Rs 2,100 a tonne for South Maharashtra, Rs 1,850 a tonne for Pune, Ahmadnagar and Sholapur, and Rs 1,750 a tonne for the rest of the state. This price does not include harvesting and transport expense, which together average Rs 350 a tonne. Maintaining this rate may become difficult due to the mismatch mentioned by Patil.

A representative of the Maharashtra Sugar Traders & Brokers Association said: “Last year, we faced a situation of higher prices. This year, there is a glut. The release mechanism as a tool to regulate the sugar industry has outlived its utility.”

Source:-http://www.business-standard.com/india/news/sugar-worth-rs-8400-crore-rots-in-maharashtra/425900/

Essar Energy set to acquire Shell refinery for $350 mn

Essar Energy on Friday announced that it has entered into an exclusive agreement with Shell UK for the proposed purchase of an oil refinery and other associated assets at Stanlow, near Ellesmere Port in Cheshire, for $350 million in cash.

The deal brings Essar Energy and Shell to the penultimate stage of two-year negotiations that also saw a brief hiatus last year, only to be revived after Essar Energy completed its $1.3-billion IPO and subsequent listing on the London Stock Exchange.

The deal will be the third largest by an Indian group in the UK, following Tata’s acquisition of Corus ($8.1 billion in 2006) and Jaguar Land Rover ($2.3 billion in 2008).

Successful conclusion of the deal, even at the current capacity utilisation of around 75 per cent, should give Essar an additional $7-8 billion in revenues at current crude prices, said Essar Group CEO Prashant Ruia, in a telephone interview from Mumbai.

He said the company would continue to keep its strategies open for further acquisitions in the oil sector, provided there is a clear fit in its scheme of operations.

According to the new deal, Shell has granted Essar Energy exclusivity to the acquisition until April 1, 2011. Essar Energy has the option until March 31, 2011 to enter into an asset purchase agreement.

If by that date Essar Energy decides not to proceed with the acquisition, it will pay Shell a break fee of $50 million. Similarly, Shell has agreed to pay Essar Energy a break fee of $10 million if it chooses not to go ahead with the sale.

In a statement issued here, Essar said that the acquisition of the Stanlow refinery, which is the second-largest in the UK, will give it direct access to the UK market. Naresh Nayyar, Essar Energy's chief executive, said, “Stanlow fits very well with our strategy of providing options for the export of high-quality products from our Vadinar refinery in India. After completion, we look forward to working closely with the refinery management and employees to develop the business and we will be investing in operational improvements to optimise the facility and enhance production.”

Essar Energy said it is acquiring the Stanlow refinery at a competitive price, compared with other recent similar transactions. The price of $350 million for the 296,000-barrels-a-day plant translates to $1,182 a barrel of daily throughput, compared with BP’s Coryton refinery sold in 2007 to Petroplus for $8,140 a barrel, Total’s Milford Haven refinery sold to Murphy Oil in 2007 for $3,307 a barrel, PDVSA’s Ruhr Oel refinery in Germany sold to Rosneft in 2010 for $3,376 a barrel and Total’s Vlissingen refinery in the Netherlands sold to Lukoil in 2009 for $8,439 a barrel.

With the completion of the acquisition, Essar will also take on board 960 workers at Shell’s Stanlow refinery. In the first six months of 2010, the facility reported earnings before interest, tax, depreciation and amortisation (Ebitda) of $62.7 million and a gross refining margin of $4.90 a barrel.

Average industry benchmark gross refining margins were $2.73 a barrel in the first half of 2010.

Under the terms of the agreement, payment for the Stanlow refinery will be made in two stages, with $175 million payable on completion of the acquisition and a deferred payment of $175 million plus interest payable on the date of the first anniversary of the completion of the acquisition. Payments from Essar Energy to Shell for the acquisition will be funded from existing cash resources and potentially from a new debt facility.

The Stanlow refinery currently accounts for around 15 per cent of production from UK refineries. It produces approximately 3.5 billion litre of petrol a year, which is one sixth of the UK total, plus it produces around 1.5 billion litre of kerosene a year, used for aircraft fuel.

Deal size could touch $1.3 billion

There was some confusion about the actual size of the proposed Essar Energy-Shell deal for the Stanlow refinery in the UK. While Essar said it was paying $350 million, the Shell website stated, “Shell on Friday confirmed it has received an offer from Essar Energy to buy its 272,000 barrel-per-day Stanlow refinery and associated local marketing businesses in the UK for a total expected consideration of some $1.3 billion.”

Frantic calls between Mumbai and London helped clarify that the deal size is in fact only $350 million, which is the price Essar will be paying for the refinery assets. The balance, which Shell at this stage believes to be $900 million, is for the inventory lying on site, including crude, work in progress and finished products. “You don’t expect us to buy a working refinery drained of its inventory, do you,” asked a senior Essar executive in Mumbai.

A Shell spokesperson here later confirmed that the $1.3 billion it is claiming to be the deal size includes the inventory along with the refinery assets that Essar plans to buy. “Beyond this, I cannot say anything,” said the spokesperson.

Successful conclusion of the deal will be subject to employee consultation, in which both Essar and Shell will participate

Source:-http://www.business-standard.com/india/news/essar-energy-set-to-acquire-shell-refinery-for-350-mn/425748/

Manpower Strength in the Plants of the Steel Authority of India Limited

The manpower strength in the plants of the Steel Authority of India Limited (SAIL) as on 1.11.2010 is 103130. The plant-wise break up is given as under:

Name of the Plants/Units                         Manpower

.Bhilai Steel Plant (BSP)                          31815

Durgapur Steel Plant (DSP)                     13271

Rourkela Steel Plant (RSP)                      19134

Bokaro Steel Plant (BSL)                         22997

IISCO Steel Plant(ISP)                            11233

Alloy Steels Plant (ASP)                          1777

Salem Steel Plant (SSP)                           1375

Visvesvaraya Iron & Steel Plant (VISL)   1528

All Contract Labour engaged through contractors at SAIL Plants are covered under Employees Provident Fund (EPF). All the Contract Labourers are also covered under Employees State Insurance Corporation (ESIC) except at Salem Steel Plant.

Salem Steel Plant is situated in an area where ESI Act has not been made applicable. However, Dr. B R Ambedkar Industrial Labour Co-operative Service Society, which is one of the major contractors of Salem Steel Plant has provided ESI coverage to its members since it has its registered establishment in an area covered by ESI.

Source: Print Release

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

This will be the decade of social business

Reflecting on the trends of social media including Facebook statistics, I am getting convinced that this decade will be the era of social business.

Till now, the relationship between business and social was used to signify that could fulfill social objectives. Poverty alleviation was the platform, social uplift was the mechanism and Nobel Prize winner Professor Muhammad Yunus was the poster boy. The Grameen Bank where the borrowers could become shareholders and investors getting their money back over the long term, sans dividends was considered the business model.

With the growth in social media and its use even in political uprising, it has become necessary to redefine the social business concept.

The social business has to embrace social networks (i.e. networks of people with varying ties and relationships) and create business value. Till now, companies have watched the growth surge of Facebook’s numbers and some have used it as a personal platform or considered it as an emerging advertising platform. I think the time has come for companies to rethink about the social platform and see how it can be used to enhance corporate efficiency or build new relationships with various stakeholders of the firm.

At SPJCM’s HR conclave, I presented how social media can be used by HR personnel for their various applications. While the audience predominantly comprising of senior HR professionals were appreciative of the potential of social media, many were skeptical about the results, since they didn’t know how to deploy it or measure the impact.

This is not new. I distinctly remember how E-Business got started during the mid nineties. Several forward looking organizations started pilot initiatives just to understand the relevance and possibilities of E-Business. There was excitement and skepticism. It was only when IBM threw its hat in the ring that E-Business became acceptable to the businesses — both big and small. IBM with its advertising campaign appealed to all businesses to consider web-enabling all their applications, integrating databases and process transactions from customers, suppliers and employees. For a long time, IBM didn’t develop any core technology in E-Business but still managed to garner most of the mindshare.

Following IBM (and perhaps more as a competitive move), Oracle announced the E-Business suite. This became successful as well and both companies rode the E-Business wave for several years to come.

The social business or S-Business is now at an inflexion point. I have seen several point solutions in social CRM, social collaboration suites, Web 2.0 platforms, but I have yet to see a major technology firm make an attempt to grab this space with a complete suite. Even IBM which was successful with its E-Business initiatives seems to be tentative about the S-Business. IBM launched the Lotus Connections recently and seem focused on collaboration.

Learning to work in virtual environments has become the de-facto norm in the globalized world of today. Yet, most organizations miss the synchronicity and the orchestration opportunities as they still operate from a command and control mindset. This has not been possible partly because of trust issues. The S-Business framework which will have relationships as the primary basis may partly offset the impediments. Yet, the mindset change has to happen.

In my view, we have passed the era of mass manufacturing. I see the future to be one of mass and dynamic collaboration and organizations who wake up to this reality will have the competitive advantage.

Source:-http://subbaiyer.com/business/this-will-be-the-decade-of-social-business

Rupee gains 4 paise against dollar in early trade

The Indian rupee rose 4 paise to Rs 45.55 against the US dollar in early trade at the Interbank Foreign Exchange on Monday.

The rupee had closed marginally higher by 2 paise at Rs 45.59/60 per dollar in the previous session. Dealers said a firm opening in the equity market and dollar weakness against the euro supported the Indian currency's sentiment.

The Bombay Stock Exchange benchmark Sensex recovered by 126.87 points to 18,135.02 in early trade on Monday.

Source:-http://businesstoday.intoday.in/bt/story/rupee-gains-4-paise-against-dollar-in-early-trade/1/13005.html

Strong farm sector to help GDP grow 8.5% in 2010-11

The government`s statistical office is expected to peg gross domestic product at 8.5% for the current financial year in the advance estimates that are due to be released on Monday. This reflects a mild slowdown from the 8.9% growth registered during the first half of 2010-11. During the last financial year, the economy had grown by 8%. 

The growth will be powered by the farm sector. Helped by abundant rains this monsoon, the agriculture sector that now accounts for less than one-fifth of the economy, is expected to expand by 6-6.5% according to the first official estimates. 

According to sources, per capita income is likely to grow at around 6.5-7% during 2010-11. 

Manufacturing sector, seen as the main job creator, is also going to be the biggest worry for policymakers with the sector showing signs of slowdown as inflation, and the subsequent increase in interest rates, is affecting capacity addition in the sector. 

The first estimates of GDP would be revised in May and again next January. 

The advance estimates of GDP are near the levels announced by finance minister Pranab Mukherjee but lower than what has been projected by several agencies including the Reserve Bank of India. In its latest monetary policy review, RBI had retained its earlier projection of 8.5% with the possibility of an upward bias. 

The Prime Minister`s Economic Advisory Council headed by C Rangarajan and the Asian Development Bank had estimated that the Indian economy would expand by 8.5% this year. 

Among the international agencies, the World Bank had projected a growth of 8.7% this year in its estimates released in January, but it is lower than the International Monetary Fund`s 8.8%. 

Economists say the robust domestic demand is the key driver for India`s growth as is evident from a spurt in the sale of cars and white goods. Though the worry is about growth being close to full capacity, the higher farm sector output would augur well for the industrial sector as rural income would get a boost.

Source:-http://timesofindia.indiatimes.com/india/Strong-farm-sector-to-help-GDP-grow-85-in-2010-11/articleshow/7428628.cms

DHL to set up more FTW zones in India

DHL Global Forwarding, the freight forwarding division of DHL, plans to invest around 90 crore ($20 million) over the next two years on setting up more free trade warehousing zones in India. DHL is scouting for large multiuser facilities along the trunk routes. Mumbai, Chennai, Bengaluru and Delhi are slated to be among the first cities to have these large warehouses. 

As of now, the company has selected Mumbai and Delhi to set up the new FTWZ. The Mumbai facility, expected to come up near JNPT, is likely to attract an investment of 45 crore ($10 million) and be operational by December 2011. The Delhi FTWZ will be located close to the Haryana-Punjab border. It will entail a similar investment and is expected to commence operations by 2012. 

In May 2010, DHL had announced the setting up its first free trade warehousing zone at Sriperumbudur in Tamil Nadu, which is expected to be operational in January 2011. The FTWZ, spread across 1.50 lakh sq. ft, will cater to multiple industries including automobile, engineering and manufacturing. This FTWZ will have a dedicated life science hub to service transit cargo as well as inbound and outbound domestic needs. It is expected to be operational by mid-2011.

Source:- http://www.projectsmonitor.com/MISC/dhl-to-set-up-more-ftw-zoPublish Postnes-in-india

Raja quizzed on change in auction norms for 2G

NEW DELHI: Arrests in the 2G spectrum scam seem to be on the cards with the Central Bureau of Investigation on Monday questioning former telecom minister A Raja about his role in changing acceptance dates for bids by private firms for the scarce airwaves.

The central agency closely examined Raja on allegations that the first come, first served policy for 2G spectrum allocation was tweaked to favour some players by advancing the cut-off date for application to September 25, 2007 from October 1. By this, the telecom ministry disqualified some 400-odd application.

The DMK leader is also being questioned about the telecom ministry's decision that letters of intent would be issued in just one hour on January 10, 2008 to companies that pay entry fees first. With Raja visiting the CBI office for the third time since December last, the agency looks closer to making arrests.

"We have evidence in the 2G spectrum scam against several people and there would definitely be a chargesheet. We will arrest a few people soon," a senior official told TOI. Raja was questioned on his contacts with private companies, conversations with corporate lobbyist Niira Radia and investments in several firms in Tamil Nadu and Delhi in the names of his relatives.

The former minister arrived at the CBI headquarters at 10.30am and was there till 6.30pm. His leaked conversations with Radia were taken up after the lobbyist was questioned last week. Asked about Radia's role, a source said, "Radia at present does not seem relevant to our case in 2G allocations. Her role is so far limited to telephonic conversations." The officer indicated CBI may not mention Radia in its report to Supreme Court to be filed by February 10.

Raja was asked about some of his kin and their role in offshoot companies of telecom firms and the flow of funds to these entities. "He was confronted with documents recovered by the agency during searches at the Department of Telecom offices in October 2009 after registering a case against unnamed people," the official said.

Source:-http://timesofindia.indiatimes.com/india/Raja-quizzed-on-change-in-auction-norms-for-2G-/articleshow/7400876.cms

Pakistan blocks Facebook over Prophet Mohammad online competition row

ISLAMABAD: The Pakistan Telecommunication Authority (PTA) directed Internet service providers to block Facebook indefinitely on Wednesday because of an online competition to draw the Prophet Mohammad.

The order followed a decision by the Lahore High Court temporarily banning Facebook in Pakistan after the country's media reported that the competition would be held on May 20.

"The court has ordered the government to immediately block Facebook until May 31 because of this blasphemous competition," Azhar Siddique, a representative of the Islamic Lawyers Forum who filed a petition in the Lahore High Court, said.

"The court has also ordered the foreign ministry to investigate why such a competition is being held." A spokesman for the PTA, the country's telecommunication watchdog, said the government on Tuesday ordered Internet providers to block only the Facebook page showing these caricatures.

But on Wednesday the court ordered the entire Facebook site blocked. Any representation of the Prophet Mohammad is deemed un-Islamic and blasphemous by Muslims.

By late afternoon, Facebook was unavailable to Pakistan's computer users, although Blackberries and other mobile devices appeared able to access the site.

But some warned the court's response could backfire. "Blocking the entire website would anger users, especially young adults, because the social networking website is so popular among them and they spend most of their time on it," said the CEO of Nayatel, Wahaj-us-Siraj.

"Basically, our judges aren't technically sound. They have just ordered it, but it should have been done in a better way by just blocking a particular URL or link."

On the Facebook information page for the contest the organisers described it as a "snarky" response to Muslim bloggers who "warned" the creators of the Comedy Central television show " South Park" over a recent depiction of the Prophet in a bear suit.

"We are not trying to slander the average Muslim," the Facebook page creators wrote. "We simply want to show the extremists that threaten to harm people because of their Mohammad depictions that we're not afraid of them. That they can't take away our right to freedom of speech by trying to scare us into silence." Publications of similar cartoons in Danish newspapers in 2005 sparked deadly protests in Muslim countries.

Around 50 people were killed during protests in Muslim countries in 2006 over the cartoons, five of them in Pakistan. Al Qaeda claimed responsibility for a suicide attack on Denmark's embassy in Islamabad in 2008, killing six people, saying it was in revenge for publication of caricatures.

Pakistan also blocked the popular video sharing site YouTube in 2007 for about a year for what it called un-Islamic videos.

Source:- http://timesofindia.indiatimes.com/world/pakistan/Pakistan-blocks-Facebook-over-Prophet-Mohammad-online-competition-row/articleshow/5950037.cms

Driver, gunman flee with Rs. 68.5 lakh to be deposited in ATMs

New Delhi: A gunman and driver of a private security agency van fled with Rs. 68.5 lakh meant
to be deposited in different ATMs in the city when the cash custodians were depositing money in an ATM.

Police said the accused have been identified as Ram Kumar, driver of the cash van and Sanjeev Kumar, the gunman.

The incident took place in Alaknanda in Southeast Delhi on Friday evening, police said, adding that the accused even managed to disconnect the Global Positioning System installed inside the van.

The accused worked for Scientific Security Management Private Limited.

Ram, a resident of Mahipalpur, and Sanjeev, resident of Kotla Mubarakpur, were waiting outside the HDFC Bank ATM in the market at around 3.15 PM when the custodians Rajesh and Suresh went to the ATM to deposit the cash.

After waiting for sometime, Sanjeev handed over his gun to the ATM guard and told him that he and his colleague will come after having lunch.

"However, they never came back," police said. Police have formed a team to nab the accused and investigate the incident. The police said that the company employed the two last year in November.

Source:-http://www.ndtv.com/article/cities/driver-gunman-flee-with-rs-68-5-lakh-to-be-deposited-in-atms-82120?pfrom=home-Cities 

Obama calls on Mubarak, asks to halt crackdown on protestors

US President Barack Obama on Saturday called on his Egyptian counterpart Hosni Mubarak to halt the crackdown on protestors, saying Washington would continue to stand up for the rights of the Egyptian people and work along with their government to ensure a better future.

US President Barack Obama
Obama, who spoke to Mubarak for 30 minutes, asked the Egyptian authorities to refrain from any violence against peaceful protestors.


"The people of Egypt have rights that are universal.

That includes the right to peaceful assembly and association, the right to free speech, and the ability to determine their own destiny. These are human rights. And the United States will stand up for them everywhere," Obama said in his statement to the press.

Obama spoke with Mubarak after the latter addressed the nation, in which he ordered the resignation of his entire Cabinet.

The US President also called on the Egyptian government to restore services of Internet and cellphone, which was earlier suspended following the protests.

"At the same time, those protesting in the streets have a responsibility to express themselves peacefully. Violence and destruction will not lead to the reforms that they seek," he said in his remarks addressed to the protestors.

"Now, going forward, this moment of volatility has to be turned into a moment of promise. The United States has a close partnership with Egypt and we've cooperated on many issues, including working together to advance a more peaceful region.

But we've also been clear that there must be reform -- political, social and economic reforms that meet aspirations of the Egyptian people," he said.

Noting that grievances have built up over time in the absence of these reforms, Obama said Mubarak pledged for a better democracy and greater economic opportunity when he addressed the Egyptian people.

"I just spoke to him after his speech and I told him he has a responsibility to give meaning to those words, to take concrete steps and actions that deliver on that promise," Obama said.

Violence, he argued, would not address the grievances of the Egyptian people.

"And suppressing ideas never succeeds in making them go away. What's needed right now are concrete steps that advance the rights of the Egyptian people: a meaningful dialogue between the government and its citizens, and a path of political change that leads to a future of greater freedom and greater opportunity and justice for the Egyptian people."

Observing that ultimately the future of Egypt will be determined by the Egyptian people, Obama said that they want the same things like every one -- a better life for themselves and their children, and a government that is fair, just and responsive.

"Put simply, the Egyptian people want a future that befits the heirs to a great and ancient civilization."

Expressing America's commitment to work with all the sections in Egypt to achieve a better future, Obama said, "Around the world governments have an obligation to respond to their citizens. That's true here in the US; that's true in Asia; it is true in Europe; it is true in Africa; and it's certainly true in the Arab world, where a new generation of citizens has the right to be heard," he said.

Source:-http://indiatoday.intoday.in/site/Story/128064/latest-headlines/egypt-protests-obama-calls-on-mubarak-asks-to-halt-crackdown-on-protestors.html