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NEW DELHI, May 7: Both the precious metals, silver and gold, turned better on the bullion market today on scattered buying by local parties and closed with moderate gains. ......more New
Zealand to WELLINGTON, May 7: New Zealand is to scrap its air force jet fighter wing as part of a wide-ranging NZ2 billion dollars (840 million dollars) defence......more Taslimuddin criticises laying of foundation stone of a project for the second time KISHANGANJ (BIHAR), May 7: Bihar Building Construction Minister Taslimuddin has questioned the propriety of the laying of foundation stone of .....more CPSTU backs May 18 NEW DELHI, May 7: The Committee of Public Sector Trade Unions (CPSTU) today announced its ....more Equity wound up with KOLKATA, May 7: Low volume business continued to be the feature of trading today........more |
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Buying in heavy- weights lifts the sensex by over 30 pts MUMBAI, May 7: Despite late profit-taking paring sharp early gains, the Bombay Stock Exchange .....more
HP starts getting HAMIRPUR (HP), May 7: Himachal Pradesh Chief Minister Prem Kumar Dhumal has said that the......more
Nitish rules out NEW DELHI, May 7: The Government today ruled out privatisation of the Railways’ operation citing...more |
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New Zealand to axe air force jet fighters WELLINGTON, May 7: New Zealand is to scrap its air force jet fighter wing as part of a wide-ranging NZ2 billion dollars (840 million dollars) defence procurement programme, a Government source said today. The Government will also announce plans for new missiles and a new multi-purpose naval vessel and the upgrading or replacement of helicopters and transport and surveillance aircraft, a Government official who declined to be identified told Reuters. Scrapping the air force’s strike capability, a squadron of 17 aging A4K McDonnell Douglas Skyhawks, was likely to raise eyebrows among foreign allies, particularly in neighbouring Australia, a foreign policy analyst said. The air force would be left with helicopters and maritime surveillance and transport aircraft. Australia — where six of the fighters are based — and the United States were briefed on the review on Friday ahead of the announcement, Prime Minister Helen Clark told reporters. "It’s been well foreshadowed that tomorrow the capital expenditure outlined for the next 10 years in defence will be in the region of 2 billion and above," Clark said. While she did not detail the review, Clark pointed out that the skyhawks had not been used in combat since they were bought in 1970. "They have fired one shot in anger — over the bows of a fishing boat," she said. "I think at some point a country is entitled to re-evaluate spending and say ‘where are the deployments, where’s the needs, where’s the interests’, and plan accordingly." Speculation on the future of the skyhawks has been intense since clark’s centre-left coalition Government last year cancelled a NZ 700 million contract to replace them with 28 leased second-hand lockheed Martin Corp F-16 strike aircraft sitting surplus in a US desert parking lot. New Zealand has taken a more independent defence line since it was excluded from the former Anzus Alliance with Australia and the United States in the mid-1980s after a previous Labour Government banned US nuclear ship visits. Scrapping the skyhawks would not be seen favourably by New Zealand’s defence partners, said Robert Ayson, a lecturer in international relations at Massey University. "It’s clear canberra will not be happy e- it’s clear that other countries in the Asia pacific will ask questions about New Zealand’s contribution to regional security," he said. "But New Zealand will say there are other ways we can contribute to regional security." Australia has in the past criticised the relatively low level of defence spending by New Zealand. New Zealand spends around one percent of gross domestic product on defence, against Australia’s 1.8 percent. Australia also announced in December it would boost defence spending by 12.7 billion dollars over 10 years, its biggest defence spending increase in two decades. The New Zealand Army, which has 700 personnel on peacekeeping duties in East Timor, is already spending nz 611 million on 105 General Motors Corp light armoured vehicles. As well as dumping the skyhawk squadron, the source said the review would include: — The sale of the air force’s 17 Aermacchi Macchi MB-339 jet aircraft, used to train skyhawk pilots — Approval for the Navy to buy a suitable multi-role vessel to replace the 30-year old leander class frigate Hmnzs Canterbury and to explore buying new patrol boats — The upgrade or replacement of the Air Force’s 14 Iroquois helicopters and six C-130 hercules transport planes — The upgrade of the Air Force’s six lockheed Martin P3K orions maritime surveillance aircraft with new equipment, including better navigation aids — Approval of an investigation into the purchase of new missiles for the orion aircraft and for the Navy’s frigate-based Kama Corp Seasprite Helicopters — The sale of the charles upham sealift transport ship which has been plagued with stability problems. The source said the Government expected to save NZ 900 million from quitting the skyhawks and aermacchis. (REUTERS) |
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Taslimuddin criticises laying of foundation stone of a project for the second time KISHANGANJ (BIHAR), May 7: Bihar Building Construction Minister Taslimuddin has questioned the propriety of the laying of foundation stone of a railway overbridge here by Coal Minister Shahnawaz Hussian this year saying it had already been done by then Prime Minister H D Deve Gowda in 1996. Mr Taslimuddin said yesterday that Mr Hussain laid the stone for the overbridge across Khagaria level crossing in the town for the second time on March 27 this year. The then Railway Minister Ram Vilas Paswan too was present during the laying of first stone and the marble plague bears an eloquent testimony to it, he said. The work on the project, that was to cost Rs 16 crore, was temporarily stalled due to technical snags and Minister of State had now laid the second foundation stone. Mr Taslimuddin accused Mr Hussain of trying to hoodwink the local electorate and extract political mileage even from development activities. He also criticised the Coal Minister for his announcement regarding the development of Kishanganj station as a model station and said that Mr Paswan had promised Rs 32 lakh for the work the foundation stone was laid in 1996. Taslimuddin also criticised the proposal of building a three part fly-over across National High No 31 in the midst of the district town of Kishanganj as part of on-going super express way project. He said it would be extremely accident-prone and a traffic hazard. (UNI) |
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CPSTU backs May 18 strike in support of BALCO stir NEW DELHI, May 7: The Committee of Public Sector Trade Unions (CPSTU) today announced its support to the nation-wide strike call for May 18 given by central trade unions in solidarity with the striking workers of Bharat Aluminium Company (BALCO). CPSTU, comprising public sector employees’ trade unions affiliated to AICTU, CITU, HMS, Joint Action Front, PSU Trade Unions Coordination Committee and various independent unions, asked public sector workers all over the country to join the strike. In a statement here, CPSTU said BALCO workers two month long strike against privatisation is a fight "on behalf of all public sector workers". Four central unions — All India Trade Union Congress (AITUC), Bhartiya Mazdoor Sangh (BMS), Centre for Indian Trade Unions (CITU) and Hind Mazdoor Sabha unions are to submit to the Apex Court tomorrow why the proposal is not acceptable to them. (PTI) |
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Equity wound up with scattered support KOLKATA, May 7: Low volume business continued to be the feature of trading today on the Calcutta Stock Exchange (CSE) where in scattered support some of the shares wound up above Friday’s closing rates. The predominent mood was one of caution as the disposition was to await the final decision of SEBI in regard to Badla on rolling settlement. The turnover was low and undertone uncertain. The Bata Scrip which had remained badly depressed on Friday reversed the trend to close with gains at Rs 33.90, while cement company shares evoked modest interest to close with on balance gains. For instance L & T finished at Rs 221.30, ACC at Rs 141, Guj Ambuja at Rs 181.90 and Grasim at Rs 307.50. The software scrips too settled higher with Sathyam Computers traded at Rs 224.60, Zee Tele Films at Rs 99.60, Himachal Futurstic at Rs 169.20 and Globaltele at Rs 204.30. Elsewhere in the specified group, SBI had deals at Rs 231.20, DSQ soft at Rs 96.90, TISCO at Rs 137.50, Tata Tea at Rs 216.1a0 and ITC at Rs 831.90. But Reliance eased to Rs 340.80 as did Ranbaxy to Rs 473.70 and TELCO to Rs 73.10 on lack of support. (PTI) |
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Buying in heavy-weights lifts the sensex by over 30 pts MUMBAI, May 7: Despite late profit-taking paring sharp early gains, the Bombay Stock Exchange (BSE) continued to rule firm today, supported by sustained purchases by foreign funds in select heavily-weighted counters that helped the sensex rise by another 30.22 points at close to 3544.81. The BSE-30 share sensitive index opened with an upside gap of 3562.97 reflecting a smart rally on wall street and fluctuated in a narrow range of 3573.19 and 3539.46. It ended the day at 3544.81 as against last Friday’s close of 3514.59, a gain of 30.22 points or 0.86 per cent. The market sentiment also got a boost after the regulator, SEBI deferred the decision on carry forward in rolling settlement until May 14. ‘Some favourable outcome in the next meeting is expected,’ a broker said. Foreign Institutional Investor (FII’s), remained the main driving-force behind the extended rally in share values, as their continued shopping in index heavy-weights like Infosys Tech, NIIT, L&T, Grasim, GACL, ACC, TISCO, Hindalco and SBI enabled the sensex to post moderate gains. The BSE-100 index also rose by 23.02 points to 1733.84 compared with the previous finish of 1710.82. Momentum stocks like Himachal Futuristic and Global Tele-Systems were in limelight on speculative buying but profit-selling trimmed early gains. Cement counters also were in keen demand on buying by institutional as well as retail investors following reports of more off-take in the month of April. Under the leadership of SBI, majority of the bank shares were also in limelight on market speculation of an imminent interest rate cut by Reserve Bank of India (RBI). In the specified group, 135 including 23 index-based counters closed with gains while 40 others registered losses. The BSE-200 index and the dollex were quoted moderately up at 375.27 and 133.42 as against last Friday’s close of 370.63 and 131.77 respectively. The BSE-500 index also rose by 13.48 points to 1102.66 compared with last close of 1089.18. The volume of business remained low at 1360.58 crore. Satyam computer topped the list of highest traded securities with a turnover of Rs 143.34 crore followed by Infosys Tech (Rs 140.44 crore), Himachal Futuristic (Rs 130.14 crore), Global Tele (Rs 129.58 crore) and Wipro (Rs 100.40 crore). Satyam Computer spurted by 5.75 to 224.70, Infosys Tech by 185.65 to 3999.15, Himachal Futur by 10.10 to 170.20, Global Tele by 9.85 to 205.45, Wipro by 62.05 to 1721.70, ACC by 1.80 to 141.70, Dr Reddy by 18.50 to 1152.55, Grasim by 6.15 to 307.20, GACL by 9.00 to 182.50, L&T by 5.30 to 222.05, Hindalco by 18.40 to 838.75, ITC by 6.15 to 835.65, NIIT by 17.15 to 388.30, SBI by 5.20 to 231.95, Zee Telefilms by 3.95 to 99.95, Novartis by 26.70 to 301.85, Tata Power by 10.15 to 128.70, Polaris Soft by 22.90 to 327.50, Gillette by 23.65 to 404.30, Digital Eq by 15.05 to 528.10, HCL Techno by 24.70 to 435.55, Hughes Soft by 17.55 to 755.60, Madras Cem by 207.40 to 4579, SSI Ltd by 27.90 to 557.35, Sun Pharma by 18.40 to 624.45 and VSNL by 13.60 to 333.25. (PTI) |
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HP starts getting its power share from Ranjit Dam HAMIRPUR (HP), May 7: Himachal Pradesh Chief Minister Prem Kumar Dhumal has said that the State had started getting 4.6 per cent share of its power from the Ranjit Sagar dam on nominal rates. While addressing a press conference here last evening, he said the State would get about 27 megawatts (mw) of power per annum from the dam. He said that though the State had about 20,376 mw of hidden power potential in its rivers "yet it was shocking that the previous Congress Government had exploited only 3856 mw of power in 50 years. Out of this, only 325 mw of power was exploited by the Himachal Pradesh State Electricity Board and the rest by the private sector and other organisations like Bhakra Dam, Pong Dam and Beas Satluj Link Authorities". He, however, claimed that during the last three years of the BJP’s rule, the State had made remarkable progress in the power sector and improved the scenario. He said that the work on 86 mw Malana Hydel Power Project would be completed in a record time of three years as against the target of six years. "This project would be energised on June 27, 2001 and the State would get an income of Rs ten crore per annum from this project". Prof Dhumal gave details of other projects that were at the completion stage. He said that the Union Power Minister Suresh Prabhu had assured him that the agreements on all the remaining power projects of the State would be finalised within next two years. "If things went smoothly the entire power potential of the State would be energised by year 2012 and the State would get an income of Rs 4000 crore annualy from the power sector only". (UNI) |
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Nitish rules out Railways privatisation NEW DELHI, May 7: The Government today ruled out privatisation of the Railways’ operation citing its role in fulfilling social obligations at the cost of revenue generation. In an informal chat with mediapersons here after addressing a two-day conference of the General Managers (GMs) of the Railway Zones here, Railway Minister Nitish Kumar said some private participation was already there in certain spheres of the Railways. He said, "the Railways had some social obligations and had to make investment in areas where there was no return. This aspect had to be considered before the Government can think of handing over Railways to the private sector." About the suggestions on corporatisation of the Railway Board, he said what was required was the efficient working of the Railway Board and not its conversion into a corporate body. Asked about the Gaisal rail accident, the Railway Minister said some action has been initiated by the Railway administration which had been asked to fix responsibility both at the higher and the lower level. On the Rakesh Mohan Committee on Railway safety, he added it had yet to submit its final report. He said an action plan would be prepared on the basis of his deliberations with the GMs. He said that there was enough scope for curbing the Railways expenditure and revenue could be generated by resorting to aggressive marketing. Responding to a question, he clarified that there was no discussion about revising freight and fare of the Railways at today’s meeting. (UNI) |
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