Times Chennai E-paper March 03, 2009

VOL: 2 ISSUE 48

March 03, 2009

Lahore attack: 6 SL cricketers injured; none critical Lahore, March 03: Te r r o r s t r u c k cricket on Tuesday when the Sri Lankan cricket team, which is in Lahore to play the second Test was attacked upon by a gang of highly trained terrorists,

cricket board has cancelled the tour with immediate effect and a confirmation came from President Rajpakse’s office that the Sri Lankan team had indeed been called back by the

injuring at least six players, though none were critically wounded. The Sri Lankan Sports Minister, Lokuke Gamini, has confirmed to the reporters that six of the players were injured and taken to hospital. The injured players are: Thilan Samaraweera, Tharanga Paranavitana, Kumar Sangakkara, Ajantha Mendis, Mahela Jayawardene and Thilan Thushara. Also, Ehsaan Raza, the fourth umpire of the match, who was in the team bus is said to be critical. However, Punjab G o v e r n o r, S a l m a a n Tahseer, claimed that no Sri Lankan player was critically injured in the attack and all are safe at the moment. The news was also confirmed by Sanath Jayasuriya, who spoke to a TV channel from Sri Lanka, said that he had spoken to Kumar Sangakkara, who informed him that though there were few injuries, everybody was safe. Father of the outgoing team skipper Mahela Jayawardene said his son had just called his wife from Lahore to say that he too had suffered minor injuries in his leg during the attack that had shocked the nation. Tour Cancelled The Sri Lankan

government it saw no way to continue with the tour. Meanwhile, The International Cricket Council (ICC) has called in an emergency meeting in Colombo to assess the situation and take stock. How It Happened As per initial reports the attack happened outside the Gaddafi stadium when the team was passing through the Liberty roundabout. A group of gunmen (Reportedly 12 in number), armed with automatic weapons, were waiting there in a white car, then resorted to indiscriminate firing at the convoy and even fired rocket launchers. S e v e n policemen have lost their lives while two other are reportedly injured. Some of the slain policemen have been identified: Zafar Khan, Mudassar, Tipu S u l t a n a n d Ta n v i r Ahmed. S t r i k i n g Similarities with Mumbai Attacks The authorities are suspecting it as a handiwork of one Pakistan’s many active terror groups. Punjab G o v e r n o r, S a l m a a n Tahseer, while confirming the incident claimed that the attackers were highly

trained and bore resemblance to the Mumbai terror attacks in the way it was executed. In the meanwhile, the Pakistan police have released the sketches of the assailants and it has been confirmed that they had automatic weapons. I n c i d e n t a l l y, media reports claimed that the police knew of a plan to attack the team and hence the route taken by the convoy today was kept a secret but it seems that the terrorists had better information. A witness told reporters he believed two police commandos were killed along with a regular policeman and a traffic warden. Shopkeeper

Ahmed Ali said the two police commandos had been driving behind the team bus when they were hit. "It was a very heavy firing and I heard at least two explosions at the time," said a witness who had been on his way to cover the Test match between Pakistan and Sri Lanka. Pakistan only invited the Sri Lanka team to tour after India's team pulled out with security concerns following the militant attacks on the Indian city of Mumbai in November. -Agencies

Monday through Friday

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Times Chennai E-Paper

March 03, 2009

MK asks partymen to work for alliance victory in LS polls Chennai, March 03: Alleging that some forces were trying to create a rift in the Congress-DMK alliance, Tamil Nadu Chief Minister and DMK President M

Karuananidhi on Tuesday called upon partymen to take a pledge to preserve the alliance and strive to work for its victory in the May 13 Lok Sabha elections. T h e D M K leader's call to strengthen the alliance comes a day after AICC Secretary Ghulam Nabi Azad, who is in charge of Tamil Nadu, asserted that the Congress-DMK alliance will continue for the May 13 Lok Sabha elections. Referring to a report in a Tamil Daily that some Congress District Secretaries and State office-bearers had told Mr Azad in yesterday's meeting that the high command should consider alliance with AIADMK as it would be natural, Mr Karunanidhi said, ''We do not know who had said like that, but those leaders should recall Ms Jayalalithaa's personal attack against Congress P r e s i d e n t a n d U PA

Chairperson Sonia Gandhi during the 2004 Lok Sabha elections. He said after meeting leaders of various political parties and especially those in the Congress, Mr Azad, who called on him last evening, had declared that the victory alliance of CongressDMK would continue for the Lok Sabha elections. H o w e v e r, a Ta m i l D a i l y carried a report that some Congress leaders have told Mr Azad that they were against Congress-DMK alliance, he said. If at all some Congress leaders have expressed such a view, they should recall the AIADMK leader's attack against Ms Gandhi in choicest epithets during the 2004 Lok sabha poll campaign. Accusing the daily of trying to confuse the DMK cadres, Mr Karunanidhi exhorted partymen to ignore such disinformation campaign, destroy the forces, which tried to destablise the alliance and work for its victory. Mr Karunanidhi said ever since the C o n g r e s s - l e d U PA Government came to power at the Centre in 2004, the DMK, which is a constituent of the alliance, accorded unstinted support to the

Government, following the dharma of alliance and coalition. Some people and a section of the media did not like the unity between the two parties and were bent upon breaking the alliance, right from the day one, he said, adding after making indirect moves to wean away the Congress to its side, the AIADMK leader had even openly invited the Congress to join hands with her, willing to ditch the Left parties. ''Who will go to them after having seen the trouble the AIADMK gave to former Prime Minister A B Vajpayee during 1998-99,'' he said. ''That was why Congress leader Veerappa Moily had asserted that the Congress-DMK alliance was firm, after Ms Jayalalithaa extended an open invitation to the Congress to renew its ties,'' he added. Even after realising that the parties were firm in the alliance, some people expected differences between the Congress and the DMK on the Sri Lankan Tamils issue and tried to create a rift. However, both the parties took a uniform stand on the Lankan Tamils issue and they shared a common view that the Tamils in the island nation should be protected, he said. -Agencies

Celebrations Galore for Women’s Day at Residency Towers Chennai, March 03: This year The Residency Towers has drawn up numerous events to celebrate “International Women’s Day” in style and at very attractive prices. Main Street A spectacular buffet at both lunch & dinner, showcasing the signature dishes of The Residency

Towers. And to honor this day ….an exclusive offer for our lady guests – one buffet with our compliments for every five buffets. Plus recipe cards and the entertaining duo of Heather & Ashley. The Crown Enjoy candle lit alfresco dining and great music….and for all the

ladies, a select complimentary dessert . Bike & Barrel Lady D.J. Sana to spin tracks by leading female artistes. Complimentary “house” cocktail for our lady guests, raffle & receipe cards -8pm onwards. -Staff reporter

Strike to continue: Tamil Nadu lawyers tell Supreme Court New Delhi, March 03 : Ta m i l N a d u lawyers on Tuesday told the Supreme Court that they would not call off their strike till appropriate action was taken against the police officials responsible for attack on them in the Madras High Court on February 19. The Madras High Court Advocate Association counsel today told the apex court bench comprising Chief Justice K G Balakrishnan and Justices P Sathasivam and J M Panchal that they were prepared to work on Saturdays and Sundays to make up for the loss of litigants in the state. The plea of

senior counsel K K Venugopal appearing for the Supreme Court Bar Association for resumption of work forthwith in the interest of the litigants in Tamil Nadu had no effect on the State lawyers who were determined to continue with their strike till appropriate action was taken against the police officials responsible for the attack. The apex court today adjourned till March 6 the hearing of the case. Earlier Solicitor General G E Vahanvati defended the police officials and blamed the lawyers for the clash between the police and lawyers.

It evoked sharp reaction from those appearing for Tamil Nadu lawyers who alleged that the Solicitor General was discriminating against the lawyers. All are awaiting for the report of retired judge of Supreme Court Justice B N Srikrishna who has been appointed by the apex court to conduct a judicial enquiry to fix the responsibility against those who were behind the clash which virtually paralysed courts in Tamil Nadu and Puducherry. Justice Srikrishna has been requested by the court to submit his report within two weeks. - Agencies

March 03, 2009 Times Chennai E-Paper

National

Priyanka Gandhi arrives in brother Rahul's political turf Amethi, March 03: A day after the announcement of General Elections, Priyanka Gandhi Vadra Tuesday arrived in this Uttar Pradesh town to spend the day in her Congress MP brother Rahul Gandhi's political constituency where she will meet party workers and p e o p l e . Though there was no announcement of any formal launch of the party's election campaign from here, the arrival of the charismatic fourth generation Gandhi is seen as significant in the light of the announcement of general elections that begin next month. Priyanka, who flew down in a chartered aircraft from Delhi to the Fursatganj flying academy

airstrip in Rae Bareli, drove straight to Gauriganj, where she will attend the closing ceremony of a Congress Sewa Dal camp. She is to travel through villages of the Amethi parliamentary constituency and hold a meeting of senior Congress leaders at M u n s h i g a n j . Huge crowds gathered all along her nearly 80 km drive to catch a glimpse of Priyanka, who is quite a rage among the locals. "She reminds us of her grandmother Indira Gandhi, whose charisma she seems to have inherited," remarked 70year-old Shushila Devi, who had walked some 8 km to take a look at

P r i y a n k a . The Congress party's workers feel Priyanka could make all the difference, not only in A m e t h i a n d neighbouring Rae Bareli - her mother Sonia Gandhi's constituency but also all across Uttar Pradesh, which sends 80 members to the national p a r l i a m e n t . "Priyanka Gandhi could really do the magic that is required to revive the Congress party in UP. I don't know why she remains confined only to Amethi and Rae Bareli," wondered a senior Congress leader, who preferred anonymity. -Agencies

Govt may get Gandhi's rare assets New York, March 03: The US-based owner of Mahatma Gandhi memorabilia, up for auction here this week, has offered to "donate" the rare collection to India if it agrees to spend five percent of its gross domestic product (GDP) o n t h e p o o r . James Otis owns five personal belongings of Gandhi -- his metalrimmed glasses, pocket watch, a pair of sandals, and a plate and bowl -which India is under intense pressure to acquire on the grounds they are part of its national heritage. "... if the (Indian) government decides to allocate five percent of the GDP to or announces some major scheme for the poor, who're very near to

the heart of Gandhi or announces some other scheme which would benefit them, I will even donate these items," he said. Otis said that he has added two more items of Gandhiji to the five already being auctioned. These include his blood report from the then Irwin hospital in Delhi and a signed telegram he sent to students participating in a non- violent struggle at that time. In fact, his statement came in the wake of several IndianAmerican leaders including hotelier Sant Singh Chatwal announcing their intention to bid for the rare collection and, if

successful, hand it over to the Indian government. However, it was not clear whether Otis would be able to get out of the contract with auctioneers who get commission on the sale proceeds, but he claimed that an arrangement could be worked out with them. Neither the Antiquorum Auctioneers' spokesperson was available for comment nor an email sent elicit any response. The auctioneers had earlier valued Gandhi's belongings at around USD 20,000 to 30,000 but the controversy could raise the price much higher. -Bureau Report

JMM to form separate front to fight polls in Jharkhand Ranchi, March 03: Unhappy with the United Progressive Alliance (UPA) over not getting support to form an alternative government in the state, the Jharkhand Mukti Morcha (JMM) said Tuesday it will form a third front with smaller parties to fight the Lok Sabha elections in Jharkhand. "We are in favour of forming a third front with support of the Left and smaller parties of the state," Dulal Bhuiya, national general secretary of JMM, told IANS Tuesday. "We will try to bring the Left parties like the CPI, CPI-M, Forward Bloc and smaller parties under one platform to form a third front. The front will fight against the NDA (National Democratic Alliance) and the UPA." Asked about aligning with the UPA,

Bhuiya shot back: "Where does the UPA exist in Jharkhand? The UPA partners cannot decide on a minor issue, then how can we be part of UPA?" The JMM is unhappy with the Congress and Rashtriya Janata Dal (RJD) for not supporting it to form an alternative government in the state. "The JMM is the single largest party of the UPA with 17 legislators, and the Congress and RJD have nine and seven respectively. Despite being the single largest party of UPA we were not supported to form the government," he said. JMM chief Shibu Soren quit as chief minister on Jan 12 after losing a key assembly by-election he needed to win to remain in the post. The JMM projected three

legislators as possible successors, but they were rejected by the Congress and RJD. Jharkhand is under president's rule since Jan 19 and the state assembly has been kept under suspension. In the 2004 Lok Sabha elections, the Congress and JMM had formed an alliance to fight the elections. The alliance swept the elections in the state. The UPA, including RJD, bagged 13 of the 14 Lok Sabha seats. The BJP won one seat. Political experts feel that if the JMM succeeds in forming a third front then it could give a tough time to both the NDA and UPA in the state. At present the JMM has four MPs from Jharkhand.

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India’s indigenous aircraft carrier may be named INS Vikrant New Delhi, March 03: In line with the tradition of naming new warships of the same type on decommissioned ones, India's first Indigenous Aircraft Carrier (IAC) being built at Kochi may be named after the legendary INS Vikrant which the Navy operated successfully during the 1971 Indo-Pak war. "It is a tradition in the Navy to name new warships of the same type on decommissioned warships. The idea is no warship ever dies. The

new warship continues the legacy and is always referred to as a continuation of the decommissioned warship. In accordance with tradition, the IAC, in all likelihood, will be named INS Vikrant," Navy officers said here on Monday. However, they said, it was too premature, as the IAC building has just begun and it may take a while before a decision on its name is taken. "First a list of names are suggested and then the President of

India, who is the Supreme Commander of the Armed Forces, takes a decision and approves the name. The decision is likely to come just before its commissioning in 2015," he said. The IAC is also being designed from the very beginning as India's first warship that will provide separate accommodation facilities for women naval personnel who may sail on warships once the government decides to allow them to do so.

BJP to announce Haryana LS candidates on March 9 Sonepat, March 03: The BJP will announce on March 9 the names of its candidates who will contest the upcoming Lok Sabha elections from Haryana, President of the party's state unit, Atam Parkash Manchanda, told reporters here on Tuesday. He said that although the BJP is contesting the elections in the state in alliance with the Indian National Lok Dal (INLD), the two parties are yet to reach a decision about sharing of

seats. Manchanda said that the sate BJP core committee which met here yesterday, has recommended the names of its candidates for six Lok Sabha seats, n a m e l y, A m b a l a , Faridabad, Sonepat, Gurgaon, Rohtak and Karnal. The party's Central Parliamentary Board will announce the names after its meeting in New Delhi on March 9 to discuss the recommendations and finalise the list of

candidates, he said. T h e recommended names are Rattan Lal Kataria (Ambala), Ram Chander Bainda (Faridabad), Kishan Singh Sangwan (Sonepat), former MP Sudha Yadav and Sudesh Yadav, wife of former Union Minister Hukam Deo Narain Yadav (Gurgaon), Captain Abhmanyu and O . P. D h a k a r ( R o h t a k ) , former Union Minister of State for Home Affairs, I.D.Swami, Atam Parkash Manchanda and Niti Sen Bhatia (Karnal). -Agencies

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World

Times Chennai E-Paper

US collector declines India's offer for Gandhi items Washington, March 03 A California collector who plans to sell possessions once owned by Mahatma Gandhi says he has rejected a "generous but small" offer from India and barring a last minute agreement Thursday's planned auction would go ahead. "Indian officials approached me this morning with a generous but small offer that I respectfully declined," James Otis told IANS over the phone Tuesday from Los Angeles. Otis,45, a peace activist, refused to spell out the offer saying "it was financially so small that I would not like to repeat it." But he has agreed to meet Indian o ff i c i a l s a t 1 0 a . m . Wednesday in the company of Lester Kurtz, Professor at George Mason University, in Fairfax, Virginia. Otis an avid collector of Gandhi memorabilia has for the past decade been working with Kurtz, a leading scholar on Gandhi on three projects, including a four-hour television documentary titled "Peaceful Warriors-A History of Non-violence." But as of now the auction of Mahatma

Gandhi's Zenith pocket watch, steel-rimmed spectacles, a pair of sandals and an eating bowl and plate would go ahead as scheduled in New York March 5. The collection has a reserve price of between $20,000 and $30,000. The New York auction house, Antiquorum Auctioneers, with whom Otis has signed a contract to sell the items, too said the "auction is going ahead tomorrow (Wednesday) despite an interim stay by Delhi High Court. A representative of the auction house told IANS, "We have been contacted by the Indian consulate and we'll be meeting them." But the person declined to comment on when the meeting would take place or what they would talk about. The Indian embassy here too declined to comment on what the mission was doing to stop Mahatma Gandhi's personal belongings from going under the hammer, which has triggered a public outcry in India. Earlier, before he was contacted by Indian officials, Otis had

indicated he would be happy to negotiate some kind of solution that might satisfy both parties. "I have a contract with the auction house to sell these items, but as you know you can make a deal prior the auction. I would be very happy to welcome any serious offers from the Indian government and it might not even have to be financial," he said. "There are things they could offer in terms of helping the people of India that I would more than welcome, for example improving health care for the poorest Indians in exchange for the items." Besides Gandhi memorabilia, the March 4 and 5 auction will feature a collection of over 400 important timepieces from across the globe. These include a watch that belonged to P r e s i d e n t J o h n F. Kennedy and later Aristotle Onassis and a unique Patek Philippe wristwatch made for Henry Graves. -Agencies

CIA destroyed 92 interrogation tapes: Obama Administration New York/Washington, March 03: T h e C I A destroyed 92 controversial interrogation tapes, the Obama Administration has informed a New York court and termed the development "sad". The information about destruction of 92 interrogation tapes by the CIA under the previous Bush Administration was submitted by the Department of Justice in response to a lawsuit filed by the American Civil Liberties Union (ACLU), seeking records of treatment of prisoners in US custody abroad. "The large number of videotapes destroyed confirms that the agency engaged in a

systemic attempt to hide evidence of its illegal interrogations and to evade the court's order," ACLU attorney Amrit Singh alleged in a statement. A m r i t i s daughter of Indian Prime Minister Manmohan Singh. "The CIA can now identify the number of video tapes that were destroyed. 92 video tapes were destroyed," said Acting US Attorney Lev Dassin in a letter submitted to the New York court. The details of the videotapes destroyed have not been released yet. These tapes relate to interrogation done by CIA post-9/11. Responding to

a question on this issue, White House spokesman Robert Gibbs told reporters, "Obviously the development is not good; it's sad." -Agencies

March 03, 2009

Ferocious storm paralyses East Coast sending several cars into dtches, grounding flights New York, March 03: A ferocious storm packing freezing rain, heavy snow and furious wind gusts paralyzed most of the East Coast on Monday, sending dozens of cars careening into ditches, grounding hundreds of flights and closing school for millions of kids. The devastating effects of the storm were seen up and down the coast. A crash caused a 15-mile traffic jam in North Carolina, forcing police and the Red Cross to go car-to-car to check on stranded drivers. The storm was blamed for 350 crashes in New Jersey, and a Maryland official counted about 50 cars in the ditch on one stretch of highway. By Monday, the storm had moved north into New England, and most areas in the storm's wake expected to see at least 8 to 12 inches of s n o w. T h e w e a t h e r contributed to four deaths o n r o a d s i n Massachusetts, Rhode Island and on Long Island. Diane Lugo, of Yonkers, N.Y., got a ride with her husband to avoid walking 10 minutes in the slush to her bus stop. "Getting out of the driveway was pure hell," Lugo said. "He got to work late. I'm obviously late." The South was especially hard hit, dealing with record snowfalls, thick ice and hundreds of thousands of power outages in a region not accustomed to such vicious weather. I n N o r t h Carolina, Raleigh got more than 3 inches of snow; the March snowfall for the city has exceeded 3 inches only 11 times in the last 122 years. The Weather Service said

parts of Tennessee received the biggest snowfall since 1968. The 15-mile traffic jam in North Carolina caused no serious problems and authorities were able to get traffic moving again. Travelers were stranded everywhere, with about 950 flights canceled at the three main airports in the New York area and nearly 300 flights canceled in Philadelphia. Boston's Logan International Airport had to shut down for about 40 minutes to clear a runway, and hundreds of flights were canceled there. Philadelphia declared a Code Blue weather emergency, which gives officials the authority to bring homeless people into shelters because the weather poses a threat of serious harm or death. Dozens of schools across North Carolina, South Carolina, New Hampshire, New Jersey and Maine gave children a snow day. Schools in Philadelphia, Boston and New York City did the same. It was the first time in more than five years that New York City called off classes for its 1.1 million public school students. Some New York parents complained that the city waited until 5:40 a.m. to call off classes, saying they didn't have enough notice. Mayor Michael Bloomberg brushed off the criticism and praised the city's storm response, which included dispatching 2,000 workers and 1,400 plows to work around the clock to clean New York's 6,000 miles of streets. "It's like plowing from here to Los Angeles and back," Bloomberg said at a news

conference, standing in front of an orange snow plow at a garage. Central Park recorded 7 inches of snow, and more than a foot was reported on parts of Long Island, where high winds caused 2-foot drifts on highways in the Hamptons. The storm offered a hint of irony in a couple of cities. People had to brave the snow and cold to attend the annual Philadelphia Flower Show, an indoor exhibition that provided a fragrant, spring-like glimpse of yellow daffodils, crimson azaleas and white tulips. In the nation's capital, hundreds of protesters gathered on Capitol Hill to protest a power plant and global warming during one of the worst storms of the year. In Fairfax, Va., 8year-old Sarah Conforti said Monday's day off was just what she'd been hoping for, and planned to "make a snowman or play in the snow with my friends," she said. H e r m o t h e r, Noelle Conforti, said Sarah and her 10-year-old sister couldn't be happier about the school-free day. "The kids are against the window, just looking out the window like a cat," she said. "It's hilarious." Outside a medical center in New Rochelle, N.Y., Emilia Rescigna struggled to push a stroller through the snow and slush. Asleep in the stroller was her 1-year-old son Adam, who had a 9 a.m. appointment with his pediatrician. The snow began to accumulate in New Hampshire and Massachusetts as the storm moved north, but most residents there were taking it in stride "This is New England, after all," said Dave Richardson of Salem, Mass. -Agencies

We all dived to the floor to take cover: Jayawardene Lahore, March 03: Sri Lanka cricket captain Mahela Jayawardene said that the players dived to the floor of the bus to take cover when the team bus came under heavy fire from terrorists, on the way to Gaddafi Stadium for the Test match here Tuesday. "The bus came under attack as we were

driving to the stadium, the gunmen targeted the wheels of the bus first and then the bus," Jayawardene was quoted as saying by Cricinfo. "We all dived to the floor to take cover. About five players have been injured and also Paul Farbrace (a member of the support staff), but most of the

injuries appear to be minor at this stage and caused by debris," he said. At least six Sri Lankan cricketers including Jayawaredene, his deputy Kumar Sangakkara, Ajantha Mendis, Thilan Samaraweera and Tharanga Paranavitana received injuries in the attack.

The team bus was shot and grenades were also lobbed towards it by armed terrorists on its way to the Gaddafi Stadium for the third day of the second and the final Test match here. Five escorting policemen were killed in the attack that took place near the Liberty. -Agencies

March 03, 2009 Times Chennai E-Paper

Business

Tata to unveil Nano's European version Geneva, March 03: Largest Indian auto maker Tata Motors, which is gearing up for the commercial launch of Nano in India this month, will be unveiling the European version of the small car -touted as cheapest in the world -- here on Tuesday. According to industry sources, the company would showcase the car at the Geneva Motor Show. "The version for the European market will be more fuel efficient, better emission compliance

a n d w i l l b e technologically superior," they added. F u r t h e r, t h e sources said the car, which would be showcased here, would comply with Euro-V emission norms. However, Tata Motors spokesperson was unavailable for comment. Last year, the auto maker had displayed the luxury version of the Indian Nano at the Geneva Motor Show.

Hyundai Feb sales soar 45.31%

Following the event, many car makers across the world came up with plans for similar lowcost small cars. Ta t a M o t o r s would commercially launch Nano in India on March 23. UK-daily The Times has reported that there is no confirmed launch date for Europe and Nano is likely to have t o u n d e r g o a comprehensive redesign to meet European safety standards. -Agencies

Bearish phase may pull down India's GDP to 3%: Morgan Stanley New Delhi: Continuation of the bearish phase in the global economy could pull down India's economic growth rate to a dismal 3 percent in 2009, said international financial services major Morgan Stanley. Morgan Stanley's research report released today said, depending upon the extent of economic recovery in the developed world, India's Gross Domestic Product (GDP) growth rate during 2009 could range between

3 per cent and 5 percent. "Based on bullbear case outlook for G7 (club of developed countries), we see bull scenario growth for India at 5 percent in 2009 and 7.4 percent in 2010 and bear case at 3 percent in 2009 and 4.5 percent in 2010", it added. However, on an average, the report projected India's economic growth rate for 2009 at 4.3 percent and for 2010 at 6.1 percent. \ According to

advance estimates of national income released by the government recently, the economic growth rate during 200809 is expected to moderate to 7.1 percent from 9 per cent in the previous fiscal. The third quarter growth (OctoberDecember 2008) rate has been estimated at 5.3 percent, down from 8.9 percent posted during the corresponding period last year. - Agencies

Indian economy to take a year to recover: Moody's New Delhi, March 03: The year 2009 is set to be more difficult for the Indian economy and despite the government's stimulus packages, it would take at least a year before it starts recovering, economists at Moody's has said. “I don't think the stimulus is sufficient to start a recovery. The most it can do is to minimise the magnitude of a further slowdown... India will most likely start to recover in the March quarter (2010)," Moody's economy.com economist Sherman Chan said from Sydney. She added this year would be more difficult t h a n l a s t y e a r. " W e probably won't see a solid rebound until early 2010. The US needs to recover first. Then global economic activity will begin to pick up," Chan added. The Indian economy grew by 5.3 percent in the third quarter

of this fiscal, its lowest rate in over five years, against a whopping 8.9 percent a year ago, as agriculture and manufacturing output contracted. T h i s h a s ensued debate between the government and the economists. While the government is still confident of achieving close to seven percent growth this fiscal, economists at various global financial institutions see a further fall in the figures. When asked if the 'worst' is over for the Indian economy, she said it is difficult to say as the whole year is expected to be extremely tough. However, the slight improvement can be seen in the OctoberDecember 2009, because the US economy will slightly rebound by then, which should help to give global

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business confidence some support. In addition to the two stimulus packages, recently, the government announced a Rs 30,000-crore boost to the slowing economy by cutting excise duty and service tax by two percent each. T h e government has also extended a four per cent reduction in excise duty, provided in the first stimulus package, beyond this fiscal-end. It also announced cut in excise duty on bulk cement by two percent. According to Commerce Minister Kamal Nath, the worst is over. "I believe the worst is over," Nath said, adding, the last two months of the current fiscal would be much better in terms of growth. - Agencies

New Delhi, March 03: The country's second largest c a r m a k e r, H y u n d a i Motor India, on Monday reported a 45.31 percent jump in domestic passenger car sales at 21,215 units during February as against 14,600 units a year ago. The company's cumulative sales (including exports) during February were up by 31.91 per cent at 38,254 units compared to 29,001 units in the same month a year ago,

Hyundai Motor India Ltd (HMIL) said in a statement. Its exports for the month rose by 18.32 percent at 17,039 units compared to 14,401 units during the same month previous year. HMIL sold 34,285 units of hatchbacks Santro, Getz, i10 and i20, 3,900 units of Accent and Verna, 66 units of Sonata Transform and three units of its SUV Tucson in February. "The overall

market situation continues to be challenging and not much should be read into the February growth as last year in February, the budget was to be announced and a substantial amount of sales were deferred till March," HMIL senior vice president (Marketing and Sales) Arvind Saxena said. The company expected flat sales for the industry for the quarter ending March this year, he added. - Agencies

Bajaj posts 17% fall in motorcycle sales; Yamaha's sales zoom by three fold in Feb New Delhi, March 03: Tw o - w h e e l e r maker Bajaj Auto on Monday reported a 16.94 per cent fall in its motorcycle sales in February at 1,31,785 units as against 1,58,662 units in the same month last year. To t a l t w o wheeler sales during the month stood at 1,32,393 units, a 17 per cent decrease over the same month last year, Bajaj Auto Ltd (BAL) said in a statement. The company had sold 1,59,508 units of two-wheelers in the year-ago period. BAL's exports also plummeted by

19.70 per cent at 50,738 units in February from 63,182 units a year ago. The company's total vehicle sales stood at 1,53,782 units last month compared to 1,83,807 units in the year-ago period, down by 16.34 per cent, the statement said. "Lower threewheeler sales continue to reflect the subdued state of the commercial v e h i c l e industry...exports are expected to continue to be slow through this quarter relative to the first three quarters of FY'09," BAL said. Y a m a h a Motor's Feb sales zoom

by three-fold Tw o - w h e e l e r maker India Yamaha Motor on Monday reported an almost three-fold increase in sales during February at 15,033 units as against 5,746 units sold in the same month last year. "We are seeing the year 2009 as a progressive year. YZFR15 and FZ16 have helped us in the revitalisation of Yamaha brand in India and have set sales rolling," India Yamaha Motor Chief Executive Officer Yukimine Tsuji said in a statement. - Agencies

RBI watching rupee movement closely: Shyamala Gopinath Mumbai, March 03: The Reserve Bank on Tuesday said it is closely monitoring developments in the forex market and would take appropriate action on monetary policy as and when necessary. "We are closely m o n i t o r i n g developments in the market. The dollar has strengthened against other major currencies. Our policy on the rupee has not changed," RBI Deputy Governor Shyamala Gopinath told reporters here.

The domestic currency today weakened to a historic low of 52.04 per dollar in intra-day before closing at Rs 51.93/94. There is speculation in the market that the apex bank is likely to intervene in the forex market in the days ahead. Asked about further easing monetary policy, Gopinath said the apex bank would take appropriate action as and when necessary. Noting that the financial crisis had a significant impact on

advanced economies, Gopinath said the Reserve Bank did not see any "systemic risks" in the domestic market as gross and net NPAs of banks were under manageable levels and they are sufficiently capitalised. "There is a resilience in the financial system. It is difficult to conclude that NPAs will rise. We don't see any systemic risks," Gopinath said. -Agencies

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Napier ODI: India cruise to 53-run win over NZ Napier, March 03: A c l i n i c a l approach to the game by the Indian camp after the T20 series loss got them the desired results as the Men in Blue notched up a fine 53 runs victory over New Zealand in the first ODI of the five match series. It was a day when Harbhajan ‘Turbunator’ Singh came back in his

pristine form and sent tremors down the Kiwi batting line-up. He claimed three crucial wickets in the day’s play and ensured that the tempo for the rest of the series was set. The Indian players wore black armbands as a symbol of their support to the Sri Lankan team over the terrorist attack in Lahore. The only valiant

stand from the hosts’ end came from the willow of Martin Guptill, who cracked a fine fifty before being claimed by a wily Bhajji special at 64. Even the part time bowlers Yuvraj Singh and Yusuf Pathan came true in the hour of need and maintained a tight line and length to make sure that the required run-rate only

piled up for t h e opponents. T h e Indian ODI campaign started on a solid note as the comeback p a c e r P r a v e e n Kumar rattled the Kiwi top order with his deliveries. Dange r m a n B r e n d o n McCullum was shown the exit for a duck and his o p e n i n g partner Jesse Ryder too departed at 11 runs to become the second victim of Praveen K u m a r . Yusuf Pathan ensured that the wickets didn’t dry up as he got Ross Taylor just when the batsman started to dictate the proceedings at Napier. A f i n e performance by the Indian batsmen saw the

Dhoni happy to have escaped Pakistan tour

visitors post New Zealand a daunting target of 278 for victory in the allotted 38 overs. A fiery knock of 66 off just 39 deliveries by left hander Suresh Raina put India in the driver’s seat after India had lost two quick wickets in the form of swashbuckling Sehwag (77) and Yuvraj Singh (2). Indian captain MS Dhoni played a captain’s knock of 84 runs from 89 balls to steer India to a huge total of 273 from 38 overs. A couple of hits to the fence and one over it from Yusuf Pathan (21 off 10) also helped the team’s cause. At the start of the Indian innings, the home team was rocked by a stupendous performance from the bat of Virender Sehwag who smashed 77 runs from just 56 balls after Sachin Tendulkar had departed after scoring 20. Yuvraj Singh could not manage to make an impact as he was wrapped up for 2 r u n s b y a misunderstanding on the crease that resulted in a run-out. The match resumed after a delay in the proceedings due to a drizzle, as a result of which the match was reduced to 38 overs a side. A slight drizzle over the ground resulted in a short delay in the ongoing match after a period of 4.3 overs. MS Dhoni had won the toss and elected to bat first against New Zealand. The Indian squad was bolstered by the entry of Sachin Tendulkar in the playing eleven. Ishant Sharma had to miss the game due to a shoulder injury. The speedster expressed hope that he’d be able to regain fitness before the second ODI. -Agencies

To review 2011 World Cup plans in next 48 hrs: ICC New Delhi, March 03: Tu e s d a y ’ s terrorist attack on the Sri Lankan cricket team in Lahore, Pakistan has cast a shadow over the 2011 World Cup to be played in the Indian sub-continent. The International

Cricket Council (ICC), the sport’s governing body, condemned the attack on the Sri Lankan team, saying it upset the "wider c r i c k e t f a m i l y. " ICC chief executive Haroon Lorgat further said that the

March 03, 2009

governing body will meet to review the 2011 WC. "We will take the decision on the 2011 World Cup in the next 48 hrs," he said. -Agencies

Napier, March 03: Indian cricket captain Mahendra Singh D h o n i o n Tu e s d a y expressed shock at the terror attack on Sri Lankan cricketers and said the Indian government had taken the right decision of cancelling a scheduled tour to Pakistan in January-February. "I am glad I am in New Zealand. I don't have to worry about these incidents. Now on, cricketers will be on alert. However, there is not much a cricketer could have done in a situation like this, espescially when the whole convoy is attacked," said Dhoni, who heard about the attack on the Sri Lankan cricketers when he was batting in the first oneday international against New Zealand. "I was right in

the middle and was quite shocked to hear about it. I just heard the Sri Lankan cricketers are fine. It is sad that sportspersons are being attacked. Hope they are all fine." Dhoni said that there are a few places were you have to be guarded. "Of course, they are a few places where you have to be aware of where you are and what is happening around you. We are quite happy not to be in this kind of situation. People say sport is not targetted. "But you are not immune to it. Once a guy decides we have to attack the cricketers, we are not tough targets. Cricketers roam about freely while on tours. So you have to be aware," Dhoni said. On being asked what if India had toured

Pakistan as per schedule? Dhoni said "That's a thing of the past. W e were supposed to tour New Zealand. I am happy that

we didn't tour Pakistan. I am happy that the government didn’t allow us to tour Pakistan. It may have happened to us or it may not have happened to us. But overall I am happy to be here," said Dhoni. -Agencies

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