Rupee hits near one-week high, up 16 paise

MUMBAI: Rising for the second day, the rupee today appreciated by 16 paise to close at one-week high of 54.56 against the US dollar on hopes of robust capital inflows in view of a series of PSU share sales starting with RCF tomorrow.
Continued dollar selling by exporters and some banks as also weak dollar overseas ahead of European Central Bank's monthly policy meet late today boosted the rupee, foreign exchange dealers said.
At the Interbank Foreign Exchange (Forex) market, the domestic unit commenced lower at 54.87 a dollar from previous close of 54.72 and immediately touched a low of 54.91 on early hesistency in local stocks.

However, rupee later turned positive on late rally in local stock markets on the back of firm European opening and dollar selling by exporters and some banks to a high of 54.50 before settling at 54.56, a rise of 16 paise or 0.29 per cent.
Yesterday, it had risen by 20 paise or 0.36 per cent. "The rupee was seen appreciating today against the US dollar. The gains were supported by the slight recovery in the Euro. The positive closing in the Indian stock markets also lent support to the rupee. Hopes of dollar inflows in the disinvestment of RCF scheduled tomorrow too supported the rupee," said Abhishek Goenka, Founder and CEO, India Forex Advisors.
The government's 12.15 per cent stake sale in Nalco is likely next week and 10.82 per cent disinvestment in SAIL may take place on March 20. The public offer to sell 12.5 per cent stake in Rashtriya Chemical and Fertilisers (RCF) is scheduled to be launched tomorrow. Besides, stake sale in trading giant MMTC is expected to happen on March 14.
The Indian benchmark S&P BSE Sensex, which was moving in and out of positive terrain by over 60 points, finished higher by 161 points or 0.84 per cent on fag-end buying.
Foreign Institutional Investors (FIIs) infused over USD 130 million in Indian stocks today, as per provisional data.
The dollar index was down by around 0.15 per cent against a basket of six major global currencies.
"Globally, the Euro surged against the US dollar after the upbeat economic data of the Euro zone Service PMI and retail sales. The overall sentiment is poised with the speculation that the central banks are set for further monetary easing," he added.
Yesterday, after falling below 55-level in early trade, the rupee washed out early losses to close three paise up at 54.86, snapping a two-session string of losses, on late dollar selling by some exporters and custodian banks.
Meanwhile, the premium for the forward dollar today declined on receipts by exporters.
The benchmark six-month forward dollar premium payable in August finished down at 186-1/2-188 paise from overnight close of 189-191 paise.
Far-forward contracts maturing in February also ended weak at 348-349-1/2 paise from 352-354 paise.
The RBI fixed the reference rate for the US dollar at 54.6520 and for euro at 71.2092.
The rupee fell back sharply against the pound sterling at 83.28 from Monday's close of 82.49 and also reacted downwards against the euro to 71.59 from 71.29.
It also turned negative against the Japanese yen to end at 58.96 per 100 yen from previous close of 58.70.

Salman Khan heading to US for medical check-up

Bollywood actor Salman Khan, who had undergone surgery for his nerve disorder Trigeminal Neuralgia last year, is leaving for the US for his medical check up.
Salman's medical check-up has been long overdue but due to his professional commitments, the Dabangg actor had been delaying it. But reports are that Salman will be leavng for the US next week.
Salman, who is currently shooting for Sohail Khan's Mental in Dubai, will return to Mumbai on March 11 before flying out.
The actor was supposed to leave right after the release of Dabangg 2, but the trip got postponed as he was to start shooting for Mental. Later, in January, the trip was yet again postponed due to the court hearings.
Unlike earlier this time Salman's sisters Alvira and Arpita won't be travelling with him but filmmaker and friend Sajid Nadiadwala is likely to accompany the superstar.
Salman Khan also plans to take a break and might extend his stay in the US. Once back, Salman will start shooting back-to-back for Sohail's film, Sajid Nadiadwala's Kick and Anees Bazmee's No Entry Mein Entry.

Wipro-Microsoft launch AssureHealth platform

BANGALORE: Wipro Technologies, the global IT and outsourcing business of Wipro Limited, today announced the launch of the Wipro AssureHealth platform in partnership with Microsoft.
"This is primarily targeted at healthcare providers to deliver innovative solutions for remote fetal monitoring and cardiac care that will ensure high quality treatment at reduced costs, especially for chronic diseases", the Bangalore-headquartered company said in a statement.
The platform leverages Microsoft's cloud, mobility and analytics offerings to allow care providers to monitor patients regularly and precisely, it said.
This is done through hosted services and mobile apps that integrate medical devices, IT Infrastructure and 24/7 customer support, to deliver highly scalable solutions.
"The fetal monitoring service delivers accurate recordings of maternal, fetal heart rate and uterine activity from the expectant mother to the physician over his/her mobile device thereby enhancing the doctors ability to provide enhanced care to patients", Wipro said.
The fetal monitor is a small wearable wireless device that provides beltless monitoring of the mother and the baby in the womb. It accurately records maternal and fetal heart rate, and uterine activity, thereby providing information on fetal and maternal well-being, it was stated.

Rajasthan Royals sign on four new players

Rajasthan Royals have signed up four new players who will represent the team in the upcoming Indian Premier League, commencing in Kolkata on April 3.
Kerala's one-day captain Sachin Baby, wicketkeeper Sanju Viswanath Samson, Jharkhand medium pacer Rahul Shukla and Mumbai left arm spinner Harmeet Singh are all set to join the team's training camp soon to prepare for the sixth edition of the T20 league, said a media release here today.
The Royals will be captained by Rahul Dravid, while Paddy Upton would be their high performance coach.
The 18-year-old Samson, who made his Ranji Trophy debut in 2011 against Vidarbha and hit two centuries this season, was recently appointed vice-captain of the Kerala team for the Vijay Hazare Trophy.
A budding Under-19 Asia Cup star, Sanson attended Rajasthan Royals' selection trials, which were held on January 27, 28 and 29. Vijay Hazare Trophy captain, Sachin Baby has been a consistent performer for Kerala in the last few years and was among the top run-scorers in the invitational Buchi Babu Tournament and Hazare Trophy.
The 24-year-old left-handed batsman made his first class debut against Andhra in 2009. Since then, Baby has appeared in 14 first class and domestic matches, and has scored 492 runs with a highest score of 104 at an average of 49.20.
Jharkhand's 22-year-old right-arm medium pacer, Rahul Shukla, who made his first class debut in 2009 against Tripura and played 11 matches, was a part of the IPL in the 2010 and 2012 seasons and took seven wickets at 15.71 from four Twenty20 games with an economy rate of 7.17.

Saugata Roy resigns as Mamata’s adviser

Trinamool Congress MP Saugata Roy has resigned as adviser to the West Bengal Government’s Commerce, Industries and IT Ministry over alleged differences with Chief Minister Mamata Banerjee.
“Yes, Saugata Roy has resigned from the post of adviser to the state government’s commerce, industries and IT department,” a senior TMC leader said on condition of anonymity.
Mr. Roy who was in Delhi could not be contacted.
His resignation came days after he questioned the possibility of setting up large industries in the state.
Mr. Roy had said that the possibility of setting up large industries in the state was very bleak and the future of the state depended on small and medium-scale industries.
Mr. Roy’s comment was interpreted in political circles as criticism of Mamata Banerjee’s land policy, which advocated that the state government would have no role to play in land acquisition for industries in the state.
Mr. Roy’s comments had previously drawn sharp reaction from industries minister Partha Chatterjee who said that the problem was not land, but lack of infrastructure.
Earlier, Mr. Roy had openly slammed the TMC’s student wing for allegedly attacking teachers and principals of schools and colleges

Ekta Kapoor takes acting tips from Bhardwaj

When filmmaker Ekta Kapoor decided to make her acting debut with TV show Ek Thi Naayika, she turned to Vishal Bhardwaj for acting tips.
"Ek Thi Naayika" is a especially designed TV series to promote Ekta and Bhardwaj's co-production venture Ek Thi Daayan, a supernatural thriller that revolves around witches and hits screens April 18.
For the TV show, to be aired on Life OK channel, eight leading ladies from the samll screen - Sakshi Tanwar, Smriti Irani, Mouli Ganguly, Pooja Gor, Aamna Sharif, Kritika Kamra, Shweta Tiwari and Ankita Lokhande - have been roped in.
When Ekta was asked to do a cameo by the cast, she decided to take help from Bhardwaj, who will also be seen facing the camera for the series, said a statement.
Ahead of her acting debut, Ekta said: "Don’t ever expect me to act because I will be bad at it... I don’t mind playing a tree. As long as I don’t have dialogue, I can stand in a scene."
She said her role is "small".
"I will take my cue from Vishal. He will be experienced by then, as he too is making his TV debut in Ek Thi Naayika,” said Ekta

Seven accused in Ponty Chadha shooting case surrender

Seven persons, wanted for their alleged roles in the killings of liquor baron Ponty Chadha and his younger brother Hardeep, surrendered before a Delhi court on Thursday which sent them to police custody for seven days.
The seven accused, who were chargesheeted along with sacked Uttarakhand minorities panel chief SS Namdhari and 13 others for the killings on November 17, last year, appeared before chief metropolitan magistrate (CMM) Raj Kumar Tripathi who remanded them in police custody till March 14.
The men, allegedly belonging to Namdhari's group, were Satnam Singh alias Satte, Balkar Singh, Baaj Singh, Pargat Singh, Kulbir Singh, Bakshish Singh and Hardayal Singh. The court had earlier issued non-bailable warrants against them and two others who are still absconding.
The court had on December 28, 2012 ordered the initiation of proceedings under Section 82 of the Criminal Procedure Code (CrPC) to declare them as absconders.
Seeking custody of the accused, the Delhi Police Crime Branch officials said the accused are to be taken at various places in Uttar Pradesh for recovery of weapons used in the crime.
The police also said they are also to be confronted with the call details and CCTV footage which have been seized during investigation in the case.
Ponty Chadha and Hardeep, who had an alleged property dispute, were killed in a shootout at a Chhattarpur farmhouse in south Delhi.
Besides Namdhari and his personal security officer Sachin Tyagi, the police on February 16 had chargesheeted 20 others including Ponty for the offences ranging from attempt to murder, causing grievous harm, dacoity, rioting with deadly weapons, house trespass, kidnapping and illegally confining occupants of the farm house and destruction of evidence

Rahul Gandhi to visit Dehradun on Friday

Dehradun: Congress Vice President Rahul Gandhi will arrive in Dehradun on Friday to take stock of the party’s affairs in Uttarakhand.
Party workers are enthusiastic about Rahul Gandhi‘s visit to the state, Pradesh Congress spokesman Dhirendra Pratap said, adding, all preparations in view of his visit are complete.
He will arrive here at about 9 am and meet party office bearers in two sessions at different city hotels, Pratap said.
Gandhi will also address an NSUI training camp to be held at hotel Sunrise, he said.
This is Gandhi’s first visit to the state after his elevation as party vice president.
His visit here is being seen as an exercise aimed at preparing the party in view of the forthcoming civic body polls in the state and the 2014 general elections.

Samsung working on new Phablet to take on Chinese tech companies ZTE, Huawei

Samsung Electronics is working on a new phablet which will boast a 5.9-inch organic light-emitting diode (OLED) display. The new device will run on a powerful Exynos octa-core chipset.

According to reports, Samsung seeks to take on Chinese tech companies like ZTE and Huawei which have similar products already in the market.

A company official who declined to be named, told The Korea Times on Wednesday that the South Korean company was working on a new phablet using a 5.9 inch OLED screen.

"The new handset will be powered by its in-house Exynos octa-core chipset to meet the demand for faster data processing and downloading speed," the report on www.zdnet.com said.

With the new product, Samsung also expects to see a rapid rise in its phablet business, which will help maintain its lead over rivals, including Apple, another inside source from the company reportedly said.

The news about latest phablet comes on the heels of the Samsung Galaxy S4's launch in New York on on March 14.

The ZDnet report added that the latest smartphone which will target the enterprise market with a mobile device management software called Knox. It also launched an addition to the Note series, an 8-inch tablet Galaxy Note 8, at Mobile World Congress (MWC) in Barcelona last month.

The launch of phablets had dominated the Consumer Electronics Show (CES) in Las Vegas in January

CBI names Raja Bhaiya as accused in UP DSP's killing

LUCKNOW: The CBI on Thursday named former Uttar Pradesh minister Raghuraj Pratap Singh alias Raja Bhaiya as an accused in the murder of deputy superintendent of police (DSP) Zia-ul-Haq, based on the complaint of his widow Parveen Azad, as it filed four FIRs in the case, officials said.
This is in addition to the charges of criminal conspiracy, which the state police had slapped on Raja Bhaiya last Sunday after Parveen alleged that the former minister, an Independent legislator from Kunda, had conspired to kill her husband.
Officials said that with the charges converted to murder under section 302 of the IPC, the arrest of Raja Bhaiya was now imminent and the CBI team investigating the matter could interrogate him and then arrest him.
The Central Bureau of Investigation (CBI) had late on Wednesday night taken over the sensational case and on Thursday began the probe into the killing of Haq and the Bilaspur village headman Nanhe Yadav and his brother Suresh Yadav.
Four others — Rohit Singh, Guddu Singh, Om Srivastava and Gulshan Yadav — have also been accused in the Haq murder case. Following his name figuring in the FIR filed by Parveen, Raja Bhaiya had quit the one-year-old Akhilesh Yadav ministry.
While the chief minister has so far parried questions on the likelihood of the arrest of Raja Bhaiya, he said the law will be allowed to take its own course and that since the CBI had been handed over the case, it was for the agency to act further.
Azad on Thursday demanded that Raja Bhaiya be arrested for his role in the killing of her husband. She also said that a bravery award should be given posthumously to her husband and that the place where he laid his life in line of duty should be renamed after him

Chavez was a hero for the poor, a villain for the elite

Millions of people in Latin America and beyond grieved with Venezuelans as their much loved president Commandante Hugo Chavez died on Tuesday night. Despite being vilified by Western media and corporate lobbyists for the 15 years he ruled Venezuela, Chavez was the foremost among a band of social reformers that swept to power in Brazil, Argentina, Ecuador, Peru, Bolivia and Uruguay since the 1990's. All of them tried - to varying degree of success - to chart a path of economic development that laid emphasis on social justice and participatory politics, rejecting the corporate led growth model of the earlier decades. The charismatic Hugo Chavez was perhaps the most successful of them all.
In very simple terms, what Chavez did was to use the natural resources of the country - mainly oil - for improving the lives of the Venezuelan people, and also helping people in other Latin American countries. Venezuela has estimated oil reserves of 500 billion barrels of which 300 billion are proven. Chavez nationalized the oil industry leading to the exit of such giants as Exxon and used the export earnings to finance a series of 'Missiones' for poverty eradication, healthcare, education, pensions etc.
As a result, the share of poor people in Venezuela dramatically dropped from 61% in 1997 to 33% in 2011, while the share of extremely poor dropped from 30% to 9%. China and Brazil too have reduced poverty substantially in the past two decades, but in both, inequality has grown. In Venezuela, the Gini coefficient, which is a measure of inequality, actually fell from 0.487 to 0.39 in this period. This is the real basis of the 'Bolivarian Revolution' as Chavez named his policies after the 19 thcentury nationalist leader Simon Bolivar.
Education has been made free from pre-primary to university. As a result, one in three Venezuelans is currently enrolled in higher education, the fifth highest ratio in the world. UNESCO has recognized that illiteracy has been eliminated in the country.
Over 21% of the population was suffering from malnutrition in 1998. This has dropped to just 5% currently, on the back of massive food programs for children as also adults, easy credit to farmers and a boost to food production that has reduced food imports from 90% of total requirement in 1980 to 30% in 2011.
Infant mortality has dropped from 25 per 1000 in 1990 to only 13 in 2010. The number of doctors per 10,000 inhabitants has risen from 18 in 1998 to 58. Venezuela has benefitted from Cuban medical and healthcare expertise through a program designed to give oil to Cuba in exchange for 44,000 Cuban doctors working among the poor in Caracas and other cities. An estimated 96% of the population now has access to clean drinking water.
Not that everything is rosy with the economy. Inflation and unemployment are persisting problems. Inflation is down to about 14% from 39% in 2008. It has averaged 22% in Chavez's rule. Unemployment too has come down from about 12% in 2004 to 8 in 2012. Yet both remain issues that cause fear and uncertainty. And, they cause discontent among a politically energized population.
Will the Chavismo survive after Chavez? One of the features of "21 stcentury socialism" that Chavez said was being built in Venezuela was deep democratic institutions - some 30,000 community councils that plan and monitor local policies. Another was the politics of mass mobilization on issues of state. This has ensured some depth of support. But with many eyeing the lucrative oil reserves and 45% opposition as reflected in the elections that Chavez won last year, it is not going to be easy.

Sri Lanka 'intimidating' India: Jayalalithaa to Manmohan

CHENNAI: Tamil Nadu chief minister J Jayalalithaa on Thursday alleged that Sri Lanka is attempting to "intimidate" India into not raising its voice against the atrocities on Tamils in that country by arresting Indian fishermen.
In a letter to Prime Minister Manmohan Singh, she said: "The incidents of arrests of fishermen and the recent firing should be viewed as an indirect attempt to intimidate the government of India and browbeat it into not raising its voice against Sri Lankan atrocities on innocent Sri Lankan Tamilians in the international fora."
The text of the letter was released to the media here. Jayalalithaa was referring to the firing by the Lankan navy at Indian fishermen on Wednesday and said it was "highly unacceptable".
Urging that the Indian government not remain a silent spectator, Jayalalithaa said: "The Sri Lankan government should be advised to desist from using force against our innocent Indian fishermen who have been fishing in their traditional fishing areas for centuries."
According to her, 14 Indian fishermen — 10 from Puducherry and four from Tamil Nadu — were shot at by the Lankan navy Wednesday night, injuring a fisherman.
"You are already aware that 16 fishermen of Thoothukudi (Tuticorin) who were fishing in the Gulf of Mannar area were arrested by the Sri Lankan navy and are presently in judicial custody in Sri Lanka," the chief minister said in the letter.
"Over and above that, this latest incident of firing by the Sri Lankan navy clearly indicates that the Sri Lankan navy wants to create an atmosphere of panic, fear and tension amidst the fishermen of Tamil Nadu," Jayalaltihaa said.

Virender Sehwag axe advantageous to Aussies: Matthew Hayden

Former Australia opening batsman Matthew Hayden on Thursday said the axing of India opener Virender Sehwag would probably be advantageous for the visiting team, making them happy.
"Personally I think the Aussies would be happy. Sehwag is unpredictable perfect! Next Test could have been 300!" tweeted Hayden, indicating that the 34-year-old opener could have hit a triple century in the next match.
Hayden added that he was sorry to hear about Sehwag being dropped as the Delhi batsman is one of his favourites.
"Very sorry to hear that Virender Sehwag has been dropped for next test. He is my top 4 entertaining batsman to watch of all time," added Hayden.
The All-India Senior Selection Committee of the Board of Control for Cricket in India (BCCI) axed the 34-year-old for his below-par performance in the first two Tests in Chennai and Hyderabad. Sehwag scored only 27 runs from three innings at an average of 9 in the first two Tests of the Border-Gavaskar Trophy. His figures read 2, 19 and 6.
Sehwag was also dropped from the one-day squad in January in the series against England which India won 3-2.
The Delhi batsman has an impressive record in Tests having scored 8586 runs from 104 Tests at an average of 49.34. However, he has been going through a slump in form for some time now.
He last scored a century in the first of the four Tests against England last November, where he made a swashbuckling 117. This was his first three figure score in two years as his last century before this came in November 2010 against New Zealand.
India currently lead in the Border-Gavaskar Trophy 2-0. The third Test will be played at Mohali March 14-18 and the fourth at Delhi March 22-26.

Berlusconi sentenced to year in prison over leaks

An Italian court today sentenced former prime minister Silvio Berlusconi to a year in prison over the publication of leaked transcripts from a police
wiretap in a newspaper that he owns. Berlusconi, who faces two more verdicts this month for tax fraud and having sex with an underage prostitute, can appeal the conviction which would suspend the sentence

Sensex at 2-wk high, up 161 pts as Infosys,TCS climb to record

Wiping off initial losses, the BSE benchmark Sensex today surged by nearly 161 points to a two-week high of 19,413.54 as shares of Infosys and Tata Consultancy Services climbed to record high levels on optimism the US will soon be back on growth track.
After a lower start, the Sensex spurted by 160.93 points, or 0.84 per cent to 19,413.54. The gauge has now gained 536 points in three sessions.
The broad-based National Stock Exchange index Nifty rose by 44.70 points, or 0.77 per cent to 5,863.30, after opening lower at 5,801.30.
Infosys surged 1.29 per cent to Rs 3,004.75, its highest level after March, 2011 and Tata Consultancy Services, the largest software exporter closed at a new high by adding 2.10 per cent to end Rs 1,590.45.
Engineering major L&T shot up by 2.08 per cent to Rs 1,463.45, continuing its rise after CLSA Asia-Pacific Markets upgraded rating on the counter today. Goldman Sachs had upgraded the stock on Monday.
Brokers said besides momentum in interest-rate sensitive stocks ahead of the RBI's policy review this month on hopes of a rate cut, stocks of software companies surged on hopes of a recovery in the US growth and a better Europan trend before central bank policy meetings in the region.
Indian software companies get over 50 per cent of their revenues from the US and European markets.
Traders said the Dow Jones Industrial Average hit a new high yesterday as the US service industry grew at the fastest pace in a year amid optimism the Federal Reserve will maintain stimulus measures to support the economy.
In 30-BSE index components, 20 stocks climbed while 10 ended lower. The realty sector index gained the most by 1.68 per cent to 2,069.08, followed by IT index by 1.66 per cent to 7,059.60. The capital goods index rose by 1.59 per cent to 9,676.88 and banking index by 0.86 per cent to 13,733.93.