PARIS, June 23: The final obstacle to GE’s USD 17 billion takeover of Alstom’s power division was overcome after the French government agreed to terms with the French engineering company’s main shareholder.
Economy minister Arnaud Montebourg said yesterday on French television that the government will buy a 20-per cent stake in Alstom from construction giant Bouygues SA.
The move fulfills his pledge to ensure that the French government would retain a say in jobs and decision-making at the company, which builds power plants and France’s famed high-speed TGV trains. He did not comment on the final price of the stake to be bought from Bouygues.
Alstom’s board approved GE’s offer Saturday, a day after the government withdrew its long-held opposition and threw its support behind the American takeover, with a few conditions.
The deal is part of GE’s new focus on building and servicing industrial equipment such as aircraft engines, power-plant turbines and oil and gas drilling equipment. The US company sold its remaining interest in NBC Universal last year as part of the shift.
Under the agreement with Alstom, GE agreed to sell its railroad signal business to the French company for about USD 825 million. The deal also calls for the companies to set up three 50-50 joint ventures: one for the power grid businesses, another for offshore wind and hydro-power operations, and a third for nuclear steam turbines.
GE has said that if shareholders and workers’ representatives sign off on the deal, the acquisition of Alstom’s energy unit should close sometime next year. (AGENCIES)
France agrees to buy 20 per cent stake in Alstom
Top LeT militant killed in Baramulla
SRINAGAR : A top Pakistani “commander” of Lashker-e-Toiba militant outfit was killed and two security force personnel were wounded in a fierce gunbattle in north Kashmir’s Baramulla district, an army spokesman said.
The LeT “commander” identified as Mehmood Bhai, a resident of Pakistan, was killed when security forces launched an anti-militancy operation in Tarzoo village in Sopore, some 55 kms from here, the spokesman said.
A militant was also captured during the operation and handed over to police, he said.
The operation was suspended for the night but security forces maintained the cordon to prevent the militants from escaping.
Mehmood Bhai tried to break the cordon at around 0200 hours and was killed in the ensuing gunbattle, the spokesman said.
Two jawans suffered gunshot wounds but their condition was stable, the spokesman said
The killing of the LeT commander comes close on the heels of two successful anti-militancy operations in south Kashmir last week.
Three top Hizbul Mujahideen militants were killed in Tral area in Pulwama district on June 19 while a Pakistani “commander” of LeT was arrested in Kulgam district the following day. (AGENCIES)
Curfew-like restrictions imposed in Sopore
SRINAGAR : Curfew-like restrictions have been imposed in apple township of Sopore at north Kashmir, where a youth was killed and four others were injured after security forces opened fire to disperse demonstrators after death of a foreign militant in an encounter earlier during the day.
Official sources said hundreds of security force and State police personnel were deployed in the town and adjoning areas after the death of Arshad Ahmad Shah in security force firing during the demonstrations.
They said restrictions have been imposed to prevent further violence in the town.
However, people alleged that they were directed to remain indoors as curfew has been imposed in the entire town and adjoining areas.
Police has already registered a case and started investigation in the firing incident. Hurriyat Conference (HC) has called for a general strike tomorrow while opposition Peoples Democratic Party (PDP) has demanded immediate action against the security personnel reponsible for the killing of youth.
Security forces allegedly opened fire to disperse the demonstrators, who took to streets immediately after encounter, ensued last evening, that ended this afternoon. A foreign militant Mehmood Bhai was killed while a local militant gave slip to security forces. (AGENCIES)
Youth killed in ‘firing’ in Sopore
SRINAGAR : A youth was killed and three others were injured today when security forces allegedly opened fire to disperse a stone-pelting mob in Sopore town of Baramulla district in Kashmir, police said.
A group of youth started pelting stones at security forces, who were leaving Tarzoo area of Sopore after concluding an anti-militancy operation in which a top Pakistani “commander” of Lashker-e-Toiba (LeT) militant outfit was killed, police sources said.
Security forces allegedly opened fire to disperse the stone-pelting youth, resulting in injuries to four of them, the sources said.
They said one of the injured, Irshad Ahmad Shah, succumbed to injuries while being taken to a hospital.
The situation in the area is tense as more people have taken to streets in protest against the killing. (AGENCIES)
Modi govt to present its first General Budget on July 10
NEW DELHI : The Budget session of Parliament will be held from July 7 to August 14 and the first General Budget of the Narendra Modi government will be presented on July 10.
The Rail Budget will be presented on July 8, while the Economic Survey will be released on July 9, the Cabinet Committee on Parliamentary Affairs (CCPA) decided today at a meeting held in Parliamentary Affairs Minister M Venkaiah Naidu’s chamber in Parliament House.
The CCPA, headed by Home Minister Rajnath Singh, decided that bills to replace ordinances, including the SC/ST Prevention of Atrocities (Amendment) Ordinance, the one on Polavaram project, the TRAI Act (Amendment) Ordinance and the one on SEBI, will be brought on a priority basis for consideration in the session, official sources said.
The ordinances have to be converted into bills before third week of July.
The over month-long session will have a total of 28 sittings.
The vote-on-account budget approved by the previous Parliament ends on July 31 and a new budget has to be in place before that date.
The opposition is likely to rake up the issue of hike in rail passenger fares and freight rates ahead of the presentation of the Rail Budget.
Naidu had recently said that the election of Deputy Speaker will take place during the Budget session.
Speaker Sumitra Mahajan has already said that she would take a decision on the issue of the Leader of Opposition in the Lok Sabha before the Budget session.
Congress, which lacks the requisite numbers, is seeking the post claiming that it is the single largest party in the opposition benches and its pre-poll alliance — UPA — has together more than the adequate numbers to claim the post. (AGENCIES)
Crackdown on terror cells in China; 380 detained
BEIJING : China has broken up 32 “terror groups”, detained 380 “suspects” and sentenced 315 others in a crackdown against Islamist militants in the restive Xinjiang province in the first month of a year-long campaign to combat increasing terror attacks.
The crackdown was ordered by Chinese President Xi Jinping following massive suicide attack at a market in Urumqi, provincial capital of Xinjiang on May 24 in which 43 people were killed and 94 others injured.
China blamed the East Turkestan Islamic Movement (EIIM) for stirring up militancy in the province where the native Uygur Muslims resisted the increasing settlements of Hans from outside the province.
A total of 32 terror groups were cracked, 380 suspects detained and 315 people sentenced, a month after a massive anti-terrorism crackdown was launched in northwest Xinjiang Uygur Autonomous Region, a report by the state-run Xinhua news agency said.
Earlier the Uygur militants stepped up their attacks outside Xinjiang. Besides carrying out a suicide attack at the prestigious Tiananmen square here, violent attacks were also carried out at Kunming and Guangzhou railway stations.
China executed 13 people recently, stated to be members of ETIM and sentenced three others to death for Tiananmen attack.
Also a number of ETIM militants were reportedly killed in the air strikes carried out by the Pakistan Air Force on the hideouts of militants in the tribal areas. Xinjiang borders Pakistan Occupied Kashmir. (AGENCIES)
Newsalert
Budget Session of Parliament to be held from July 7 to
August 14: Official sources.
Union Budget for 2014-2015 to be presented on July 10.
Railway Budget to be presented on July 8.
Economic Survey to be tabled on July 9. (agencies)
Militant killed in encounter
Srinagar : An unidentified militant was killed in an encounter with security forces in Sopore area of Baramulla district in Kashmir, police said today.
Security forces launched an anti-militancy operation in Tarzoo area of Sopore town last evening following information about presence of militants there, the police said.
A gunfight broke out when militants opened firing on security forces, who were closing on the position of the ultas, it said.
The operation was suspended for the night but security forces maintained the cordon to prevent the ultras from escaping.
The police said one militant was killed when the operation resumed this morning.
“The operation is in progress as there might be more militants there,” a police officer said.
The identity of the slain militant is yet to be ascertained, he said.(Agencies)
Army prepared for Al-Qaeda threat: GOC
Fayaz Bukhari
SRINAGAR, June 22: General Officer Commanding of Army’s 15 Corps, Lt General Gurmit Singh, today said that Army’s preparedness is excellent enough to take on any security challenge in Kashmir including the possible Al-Qaeda threat.
When asked about the Al-Qaeda video calling on Muslims in Kashmir to join jihad against India, the GOC expressed his confidence on taking any security challenge in Kashmir including the Al-Qaeda threat.
Singh, who is handing over command of the 15 Corps to Lt General Subrata Saha tomorrow, said that Army is aware of the intent, capacity and capability and the threat perception of Al-Qaeda in Kashmir.
“We have effective intelligence network in place. We are aware about their intention, their capability and capacity and the threats which are there. I am proud of the soldiers and commanders on the ground that we will be able to take on any challenge of that sort. I am very confident that our preparedness is excellent”, said the GOC.
Lt Gen Singh said that Army is committed to the requirements of national security in Kashmir. “Security situation in the hinterland is under control, we have very effective counter insurgency grid along the LoC in place. We are prepared to take on any challenge. Our troops are committed to the requirements of national security”, he added.
The GOC said an effective counter-infiltration grid is in place along the Line of Control (LoC) in the Valley to prevent infiltration of militants from the other side.
“We have an excellent intelligence network and good synergy with Jammu and Kashmir police and other security forces agencies to deal with any kind of challenge,” he said.
Singh said that the situation along the LoC and the hinterland is under control. “For last two years the way we have done area domination in hinterland and along the LoC, the results are in front of you”, he added.
Giving details of the anti-militancy operations, the Corps Commander said the security forces have managed to neutralise 63 militants in the first half of this year.
“We have killed 40 terrorists including 17 from Lashkar-e-Toiba, 11 from Hizbul Mujahideen and 8 from Jaish-e-Mohammad. 23 terrorists have been apprehended during this period,” Singh said. He said that among 40 killed, 18 each are foreign and local militants while nationality of 4 was not confirmed.
The GOC said 140 weapons including 60 pistols have been recovered during the operations against militants in the Valley. “When pistols are recovered they have potential of close range firing”, he added.
The Corps Commander said that last year 10 top militant commanders were killed in Kashmir valley while this year so far equal numbers of commanders were eliminated.
Singh said that these successful operations were possible with the help of excellent intelligence provided by the Jammu and Kashmir Police and people. He said that these operations were surgical and there was no collateral damage due to excellent synergy among various security agencies in Kashmir.
GOC praised his troops for carrying out professional operations during which he said there had been no human rights violations.