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Subramanya resigns as Tata BP Solar CEO

BANGALORE, May 2: Solar power solutions major Tata BP Solar today said its chief executive officer K Subramanya has resigned from the company.
“Subramanya has decided to move on”, the company said in a statement, adding that with effect from today, Chief Financial Officer D Guru, who has been with the company for 20 years, will be taking over as the acting CEO.
Tata BP Solar is a joint venture established in 1989, with BP holding 51 per cent and Tata Power holding 49 per cent.
The company is a leader in solar power solutions and involved in the full range of activities, including design, manufacture, marketing and project execution, the statement said.
It has a manufacturing hub in Bangalore and a wide network of dealers and service centres throughout India and neighbouring countries, it added. (PTI)

PBOC fixes yuan at new high, spot prices open in new band for first ti

SHANGHAI, May 2:China’s central bank set the yuan’s midpoint at a historical high for a third consecutive trading day on Wednesday, as U.S. And Chinese negotiators prepare for the two-day Security and Economic Dialogue (S&ED) that opens in Beijing on Thursday.
The People’s Bank of China (PBOC) set a midpoint  of 6.2670 per dollar, 0.19 percent higher than Friday’s fixing. Domestic markets were closed for a public holiday on Monday and Tuesday.
Spot yuan opened 0.53 percent below the midpoint at 6.3000, the first time the currency has opened trade more than 0.5 percent away from the PBOC’s fix, and traded in this range throughout the morning.
The PBOC allowed the yuan to begin trading up to 1 percent away from the midpoint, an increase from 0.5 percent, on April 16, but spot prices have flattened out and have remained range-bound between 6.30 and 6.31 since mid-March.
An aggressive midpoint fixing on Friday caused the yuan price to test the widened trading band for the first time when it refused to follow the midpoint into stronger territory. Spot yuan touched an intraday low of 6.3124, 0.54 percent weaker than the day’s fix of 6.2787.
A stronger fixing on Wednesday also failed to inspire traders to move spot prices closer to the fixing.
‘The high midpoint setting is completely due to the S&ED,’ said a trader at one of the big four Chinese banks in Shanghai. ‘Most of our big customers are still buying dollars at the 6.3 level, which supports the dollar against the yuan.’
He added that the yuan fixing had strengthened despite the fact that the dollar index had gained in overnight trading. The PBOC usually moves the midpoint in tandem with the dollar.
(AGENCIES)

Bharti airtel shares up over 2 pc post Q4 results

MUMBAI, May 2: Shares of Bharti airtel rose by over 2 per cent in the morning trade today even as the company posted a decline of 28.19 per cent in consolidated net income for the fourth quarter ended March 31.
The scrip started the day on a bullish note and further gained 2.25 per cent to Rs 317.30 on the BSE.
At the NSE, the stock gained 1.37 per cent to Rs 312.55.
Bharti airtel today reported a decline of 28.19 per cent in consolidated net income at Rs 1,006 crore for the fourth quarter ended March 31, hit by higher cost of 3G licence fee amortisation, 3G interest costs, forex losses and tax provisions.
The country’s largest telecom operator had registered a net profit of Rs 1,401 crore in the January-March quarter of the previous fiscal.
“The recent regulatory developments in India will have significant implications on the future of telephony and broadband as well as India’s global competitiveness,”  Bharti Airtel CMD Sunil Bharti Mittal said.
Total revenue of the company, however, was up by 15 per cent at Rs 18,729 crore for the March quarter, compared to Rs 1,293 crore in the year-ago period.
For the full year ended March, 2012, Bharti airtel’s net profit was down by 29.6 per cent at Rs 4,259 crore, compared to Rs 6,047 crore in 2010-11.
Total revenue for the 2011-12 fiscal stood at Rs 71,451 crore, as against Rs 59,538 crore in 2010-11, up 20 per cent.
(PTI)

HUL shares at 52-week high on Q4 profit

MUMBAI, May 2: Shares of FMCG major Hindustan Unilever Ltd (HUL) today soared over 4 per cent to touch 52-week high after the company posted 20.63 per cent increase in net profit for the fourth quarter ended December 31, 2012.
Buoyed by the results, shares of the company shot-up by 4.21 per cent to a 52-week high of Rs 433.90 on the BSE.
At the NSE too, the FMCG major gained 3.87 per cent to touch a one year high of Rs 433.80.
The scrip was the top performer among the blue-chips on both the key indices Sensex and Nifty during the morning trade.
HUL yesterday posted 20.63 per cent increase in net profit at Rs 686.61 crore for the fourth quarter ended December 31, 2012, on back of robust sales growth across all business verticals.
The company had posted net profit of Rs 569.18 crore in the same period of 2010-11. (PTI)

Bobby Brown surprised by Whitney’s drug intake

LONDON, May 2: Whitney Houstoun’s ex-husband Bobby Brown says he was shocked to discover that his former wife was taking drugs before she died.
Houston, 48, died in Beverly Hills in February from accidental drowning caused by cocaine use, reported Contactmusic.
“It is just unexplainable… How one could, you know, (say that I) got her addicted to drugs. I am not the reason she is gone.
“I was hurt… Because, you know, me being off of narcotics for the last seven years, I felt that she was, you know, I did not know she was struggling with it still. But at the same time, you know, listen, it is a hard fight. It is a hard fight to, you know, maintain sobriety that way,” Brown said.
Houston had apparently wanted to reunite with her former husband of 14 years and the pair had decided on an intimate ceremony with their daughter Bobbi Kristina as the only witness. (PTI)

Lindsay Lohan gives USD 100 to toilet cleaner

LONDON, May 2: Troubled actress Lindsay Lohan has reportedly given USD 100 to a cleaner at the 98th Annual White House Correspondents’ Association dinner.
The 25-year-old attended the dinner in Washington DC on Saturday night with her lawyer Shawn Chapman Holley, reported Femalefirst online.
During a visit to the ladies’ room, Lohan met an elderly Hispanic cleaner Bianca and after seeing how hard she was working, she felt sorry for her.
“You are too old to be doing this,” said Lohan.
The “Freaky Friday” actress then reached into her purse and handed Bianca a USD 100 bill.
The attendant initially refused Lindsay’s generosity and said, “No, no, no.”
Other guests at the dinner included Kim Kardashian and her mother Kris Jenner, Elle MacPherson, Josh Hutcherson, Mary J Blige, Goldie Hawn and Eva Longoria. (PTI)

Boko Haram has killed hundreds since its 2009 uprising

KANO, May 2: Islamist group Boko Haram released a video celebrating its bombing of a Nigerian newspaper and warning of more attacks on local and foreign media if they published reports that were biased to the sect or insulting to Islam.
Suicide car bombers targeted the offices of This Day in the capital, Abuja, and northern city of Kaduna last Thursday, killing at least five people in apparently coordinated strikes.
Boko Haram has been fighting a low-level insurgency for more than two years and has become the main security threat facing Africa’s top oil producer, although most attacks have been in the largely Muslim north, far from southern oil fields.
The sect, which wants to impose an Islamic state on Nigeria’s more or less evenly mixed population of Muslim and Christians, has been blamed for hundreds of killings since its uprising against the government in 2009.
It had not previously targeted the press in its bombing campaign, although last October it killed a reporter for state TV who the sect said was an informant to President Goodluck Jonathan’s administration.
The video posted on the Internet opens with a Koranic song and a drawing of the Koran sitting on two crossed AK-47s. A banner in the northern Hausa language says:
‘Message from Jama’atu Ahlis Sunna Lidda’awati Wal-Jihadl (Boko Haram’s full name): on why we attacked  ThisDay’.
It then plays a video tape shot from a distance of the ThisDay Abuja office, which promptly explodes into a ball of flames and grey smoke – that suggests the sect had a cameraman set up in anticipation of the strike.
‘We attacked Thisday because we will never forget or forgive anyone who abused our Prophet,’ a voice booms in  Hausa.
ThisDay angered Muslims a decade ago when one of its columnists suggested the Prophet Mohammad might have wanted to marry a beauty queen, an event to which the tape  alludes.
JIHAD VIDEO
The statement rages against local and international media for carrying reports by Nigeria’s government that a faction of the sect was behind the kidnapping of two hostages – one British, the other Italian – who were killed by their captors during a botched March rescue  attempt.
‘We said we have nothing to do with it, yet these media houses reported that we were responsible for the incident,’ it said, also complaining about reports, which it denied, that its spokesman Abu Qaqa had been  captured.
It warned it would attack other media houses soon, listing several local papers as next on the list and several international media as ‘on the verge of jointing  them’.
It was at least the fifth video that Boko Haram had posted this year, mostly from self-proclaimed leader Abubakar Shekau. Shekau appears in this one, too, waving an AK-47 around.
From being a secretive sect in the shadows, the group has gradually raised its media profile, which may explain both the proliferation of home videos and growing attacks on media.
A spate of attacks in the past few days, including one against Christians in the north that killed 19 people on Sunday, dampened hopes that tighter security in the north had drastically reduced the sect’s capability.
Nigerian forces raided the hideout of Islamist militants in Kano on Tuesday, killing the suspected mastermind of an attack on Christian worshippers in a gun battle that lasted several hours in the main northern city.
(agencies)

‘By 2014 Afghans will be fully responsible for their security


WASHINGTON, May 2: Afghan security forces would be “fully responsible” for the security of the country by 2014, US President Barack Obama today said.
“Already, nearly half the Afghan people live in places where Afghan Security Forces are moving into the lead. This month, at a NATO Summit in Chicago, our coalition will set a goal for Afghan forces to be in the lead for combat operations across the country next year,” Obama said in a nationally televised address to the nation from Bagram air force base in Afghanistan, where he made an unannounced visit last night.
International troops will continue to train, advise and assist the Afghans, and fight alongside them when needed. But US will shift into a support role as Afghans step forward, he said.
“As we do, our troops will be coming home. Last year, we removed 10,000 US troops from Afghanistan. Another 23,000 will leave by the end of the summer. After that, reductions will continue at a steady pace, with more of our troops coming home. And as our coalition agreed, by the end of 2014 the Afghans will be fully responsible for the security of their country,” he said.
“My fellow Americans, we have travelled through more than a decade under the dark cloud of war. Yet here, in the pre-dawn darkness of Afghanistan, we can see the light of a new day on the horizon. The Iraq War is over. The number of our troops in harm’s way has been cut in half, and more will be coming home soon. We have a clear path to fulfill our mission in Afghanistan, while delivering justice to al-Qaeda,” Obama said.
As US emerges from a decade of conflict abroad and economic crisis at home, it is time to renew America, he said.
“An America where our children live free from fear, and have the skills to claim their dreams. A united America of grit and resilience, where sunlight glistens off soaring new towers in downtown Manhattan, and we build our future as one people, as one nation,” the US President said.
This time of war began in Afghanistan, and this is where it will end, he added. (PTI)

Indian-American appointed to key Pentagon position

WASHINGTON, May 2: Indian-American Vikram Singh has been appointed to a key Pentagon position to look after entire South and Southeast Asia.
“Vikram J Singh has been appointed to the Senior Executive Service and is assigned as deputy assistant secretary of defence for south and Southeast Asia, Office of the Under Secretary of Defence (Policy),” a Pentagon announcement said.
Singh previously served as special assistant, Office of the Under Secretary of Defense (Policy), it said.
Singh was a close associate of late Richard Holbrooke, the Special US Representative for Afghanistan and Pakistan.
He replaces Robert Scher, who has now been assigned as Deputy Assistant Secretary of Defence for Plans. (PTI)

US supports closer ties between India and Afghanistan

WASHINGTON, May 2: Welcoming the talks between the Indian and Afghan foreign ministers, the US today said that it supports closer ties between the two South Asian nations.
“We certainly support closer ties between India and Afghanistan and between, frankly, the entire region for the greater stability of the region,” State Department spokesman Mark Toner told reporters at his daily news conference.
“So it’s certainly in India’s interest and Afghanistan’s interest to cooperate more closely,” he said, responding to a question on the India visit of Afghan Foreign Minister Zalmai Rassoul.
In New Delhi, Rassoul yesterday met Prime Minister Manmohan Singh, who conveyed India’s “unwavering commitment” to assisting Afghanistan in its efforts to build a peaceful, democratic and prosperous country and hoped the strategic bilateral partnership would be further strengthened.
Besides his meeting with Singh, during which they discussed a range of bilateral, regional and global issues of mutual interest, Rassoul also held parleys with External Affairs Minister S M Krishna and National Security Adviser Shivshankar Menon. (PTI)