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# The Global Intelligence Files

On Monday February 27th, 2012, WikiLeaks began publishing The Global Intelligence Files, over five million e-mails from the Texas headquartered "global intelligence" company Stratfor. The e-mails date between July 2004 and late December 2011. They reveal the inner workings of a company that fronts as an intelligence publisher, but provides confidential intelligence services to large corporations, such as Bhopal's Dow Chemical Co., Lockheed Martin, Northrop Grumman, Raytheon and government agencies, including the US Department of Homeland Security, the US Marines and the US Defence Intelligence Agency. The emails show Stratfor's web of informers, pay-off structure, payment laundering techniques and psychological methods.

## [CT] INDIA COUNTRY BRIEF 101109

Released on 2012-09-03 09:00 GMT

Email-ID | 1956352
Date | 2010-11-09 14:48:20
From | animeshroul@gmail.com
To | ct@stratfor.com, os@stratfor.com, mesa@stratfor.com
List-Name | ct@stratfor.com

INDIA COUNTRY BRIEF
101109
Basic Political Developments
o The Congress said Tuesday that action against Telecom Minister A. Raja
is the prerogative of the prime minister.
o Karnataka Chief Minister B.S. Yeddyurappa said Tuesday that
politicians from all parties are involved in illegal mining but that
does not mean the Reddy brothers are also into it.
o The Congress High Command on Tuesday removed Ashok Chavan as
Maharashtra Chief Minister and Suresh Kalmadi as secretary of the
Congress Parliamentary Party.
o The Akhil Bharat Hindu Mahasabha has asked Prime Minister Manmohan
Singh to facilitate handing over the ownership and control of 67 acres
of land at Ayodhya.
o A clash between BJD and Congress occurred in Parliament after a member
from the Congress attacked the Naveen Patnaik government for giving
clearance apparently to Posco plant.
o The opposition in Lok Sabha today took the government to task over
various scams.
o Names of Maharashtra Agriculture Minister Balasaheb Thorat, Union
Ministers Prithviraj Chavan and Mukul Vasnik as well as Vilasrao
Deshmukh are in the reckoning fro Maharashtra CM post.
National Economic Trends
o Remittance flows to developing countries including India is expected
to reach $325 billion by the end of this year and is likely to exceed
to $370 billion in two years' time.
o The government on Tuesday said it has sought $2.96 billion (over Rs
13,000 crore) assistance from the World Bank for converting 3,770 km
of single lane national highways into double lanes.
Business, Energy or Environmental regulations or discussions
o Tata Power today received the ranking of '4th Fastest Growing Energy
Company in Asia' under the Platts Top 250 Global Energy Company
rankings for their remarkable and consistent performance last year.
o France-based global conglomerate Saint-Gobain is interested in
entering the Indian ductile iron pipe business and is in talks with
Indian players Jai Balaji and Dempo,.
o Rajasthan Industrial Development and Investment Corporation (RIICO)
will set up Ceramic and Glass hub in 250 hectares at Gilot in the
industrial area of Neemrana.
o Tea exports from India increased by five per cent during the
January-September period of the current year to 143.5 million kg, from
136.6 million kg in the corresponding period last year.
o Essar Africa Holdings Ltd has emerged as the preferred bidder for a
majority stake in Zimbabwe's state-run steel-maker ZISCO.
o The Reserve Bank of India on Tuesday reintroduced recent measures to
provide liquidity comfort to banks, arising out of the frictional
liquidity pressure.
o Tata Teleservices which has DoCoMo of Japan as its partner, today
announced the call tariff at just 0.66 paise per second.
o SKS Microfinance said on Tuesday it was planning to cut interest rates
to 24 per cent across all states.
o Andhra Pradesh is going all out to woo the Tatas to invest massively
in the state and set up manufacturing units in various sectors and
promised all necessary support from the government.
o The government launched the divestment of Power Grid Corp on November
9. The bidding will close on November 12.
Activity in the Oil and Gas sector (including regulatory)
o Oil and Natural Gas Corp (ONGC) is upping its ante against Vedanta
Resources by buying stake in UK-based firm's Indian unit.
o India has signed an agreement with the US for technical co-operation
in exploration and production of country*s shale gas resources.
Militant Activity/Terrorism (Particularly in Bangalore, Mumbai, Noida, Chennai,
Coimbatore)
o Over 200 surrendered militants staged a silent protest outside the
Police Headquarters in Agartala demanding immediate implementation of
rehabilitation packages promised to them by the State government for
laying down their arms.
o Suspected Maoists brutally gunned down three villagers, including a
woman, in West Bengal's Jhargram district.
o Three more persons were gunned down by NDFB rebels today to take the
overnight toll in serial violence in seven districts of Assam to 21 as
the authorities sounded a red alert across the state.
Labor/Social Unrest
Full Text
Basic Political Developments
Action against A. Raja is PM's prerogative: Congress
http://in.news.yahoo.com/43/20101109/818/tnl-action-against-a-raja-is-pm-s-prerog_1.html
Tue, Nov 9 12:27 PM
New Delhi, Nov 9 (IANS) Action against Telecom Minister A. Raja - who
belongs to ally DMK and has been dogged by graft accusations - is the
prerogative of the prime minister, the Congress said Tuesday even as it
moved against Ashok Chavan and Suresh Kalmadi over corruption allegations.
Congress spokesperson Jayanthi Natarajan told reporters outside parliament
that the party cannot comment on allegations of Raja's involvement in the
2G spectrum scam as the matter is sub judice.
'The matter is in focus for long, but it is sub judice and until a
decision comes it is difficult to comment,' Natarajan said.
'The ultimate prerogative will be of the prime minister, they are
coalition partners,'she said, referring to Raja belonging to the DMK, an
important ally of the Congress-led United Progressive Alliance (UPA)
government.
Kalmadi Tuesday resigned as Congress Parliamentary Party (CPP) secretary
after he was asked to quit in the wake of serious corruption allegations
against him as head of the Commonwealth Games Organising Committee.
Maharashtra Chief Minister Ashok Chavan also stepped down following his
alleged involvement in a Mumbai housing scam.
The opposition Bharatiya Janata Party (BJP) has questioned the timing of
the resignations, adding that the issues of corruption would be raised any
way. The party has also asked why the Congress has not taken any action
against Raja.
'The 2G spectrum scam is the mother of all scams and we will raise it in
parliament anyhow,' BJP spokesperson Prakash Javadekar told reporters.
However, Natarajan said the action against Chavan and Kalmadi reflected
the 'high morals' of the Congress.
'The BJP never took any stand like this, none of its leaders have resigned
for involvement in corruption, including their Karnataka leaders, and they
are cribbing about the timing,' she said, hinting at the mining scam in
the state.
'The opposition's allegations have no steam,' she said.
Reddy brothers not involved in illegal mining: Yeddyurappa
http://in.news.yahoo.com/43/20101109/818/tnl-reddy-brothers-not-involved-in-illeg_1.html
Tue, Nov 9 04:51 PM
Bangalore, Nov 9 (IANS) Politicians from all parties are involved in
illegal mining but that does not mean the Reddy brothers are also into it,
Chief Minister B.S. Yeddyurappa said Tuesday.
'Just because I said even our party members are involved in illegal
mining, why do you have to point to the Reddy brothers? They are not
involved in illegal mining,' he told reporters here.
Yeddyurappa said Monday at a public meeting in Mandya, about 80 km from
here, that members of all political parties were indulging in illegal
mining in the state.
'That includes our party also,' he said, expressing regret for not being
able to prevent illegal mining in the state.
'Illegal mining has been taking place in Bellary, Chitradurga and Tumkur
districts, which are rich in minerals. My government has banned iron ore
exports. Some people upset by this even tried to destabilise my
government,' he said at the meeting.
Denying that he was referring to the Reddy brothers when he said 'some
people from our party are also involved in illegal mining', Yeddyurappa
Tuesday declined to name the people from the BJP who were into this
business.
The Reddy brothers, Tourism Minister G. Janardhana and his elder brother
Revenue Minister G. Karunakara, are rich iron ore miners from Bellary in
north Karnataka. They had almost brought down the Yeddyurappa ministry in
October-November last year.
Cong axes Chavan, Kalmadi over corruption charges
http://www.thehindu.com/news/national/article875911.ece?homepage=true
The Congress High Command on Tuesday moved in to cut any further loss of
face by removing Ashok Chavan as Maharashtra Chief Minister and Suresh
Kalmadi as secretary of the Congress Parliamentary Party in the wake of
embarrassing scams allegedly involving them.
Hours before the start of what is expected to be a stormy session of
Parliament, Congress General Secretary Janardhan Dwivedi announced that
Mr. Chavan has been asked by party chief Sonia Gandhi to step down.
*Pending enquiry, his (Chavan*s) offer of resignation has been accepted.
He has been asked to tender his resignation to Governor (K
Sankaranarayanan),* he said in a brief statement.
Mr. Dwivedi also announced that the resignation of Mr. Kalmadi, who is in
the eye of a storm following allegations of corruption in the Commonwealth
Games, as Secretary of the Congress Parliamentary Party has been accepted
with immediate effect.
Earlier, Mr. Kalmadi, who was blamed for the messy preparations for the
October Games, was asked to resign. He is a Lok Sabha member from Pune.
A decision on Chavan*s resignation in the wake of embarrassing revelations
that three of his relatives owned flats in the Adrash Housing Society was
pending for the last 10 days in view of the high-profile visit of US
President Barack Obama to Mumbai.
The party did not want any political disturbance in the state during his
visit.
The 51-year-old Chavan had on October 30 offered to resign during a
meeting with Ms. Gandhi after it emerged that his mother-in-law and two
other relatives owned flats in the housing society, which was orginally
meant for Kargil war heroes and widows.
Ms. Gandhi decided to remove Mr. Chavan even before Finance Minister
Pranab Mukherjee and Defence Minister A.K. Antony could submit a report on
the housing scam.
Mr. Mukherjee and Mr. Antony will be in Mumbai today to attend the
Congress Legislature Party meeting as central observers.
Shortly after Mr. Dwivedi*s announcements, Prime Minister Manmohan Singh
said that the government was willing to discuss all issues with the
opposition parties and hoped that the Winter Session of Parliament will be
peaceful and productive.
*Greetings to you all. We are looking forward to the session and we hope
that this session will be peaceful and productive,* he told reporters in
Parliament House.
BJP-led NDA had declared that it would not allow Parliament to function
till *strong action* is taken in the Adarsh Housing scam.
Mr. Kalmadi has been under pressure from opposition parties to resign as
Chairman of the Commonwealth Games Organising Committee after the
corruption allegations erupted, but he had persistently refused to step
down.
Soon after the completion of the Games last month, Congress had left Mr.
Kalmadi to fend for himself declining to give a clean chit to him or
others associated with organisation of the Commonwealth Games.
The party decision on the two leaders comes a week after the AICC session
in New Delhi, which came under severe criticism from other political
parties and media that there was no mention about scams involving top
leaders of the Congress.
Congress apparently did not want any further embarrassment with Opposition
parties giving notice that they would rake up all issues relating to scams
in Parliament.
Mahasabha to PM: Handover 67 acre land in Ayodhya
http://www.ptinews.com/news/1098490_Mahasabha-to-PM--Handover-67-acre-nbsp-land-in-Ayodhya
Jaipur, Nov 9 (PTI) The Akhil Bharat Hindu Mahasabha has asked Prime
Minister Manmohan Singh to facilitate handing over the ownership and
control of 67 acres of land at Ayodhya to it on the order of the Allahabad
High Court so that they can build a temple at the site.
In a letter to the Prime Minister written on October 22, National
Secretary of the Mahasabha Swami Chakrapani appealed him to honour the
September 30 order of the High Court's and handover the land to the
Mahasabha to enable them to start the construction of the temple keeping
in mind the sentiments of millions of Indians, according to a press
release issued here today.
BJD & Congress clash in LS over clearance to Posco
http://www.ptinews.com/news/1098605_BJD--amp--Congress-clash-in-LS-over-clearance-to-Posco-
New Delhi, Nov 9 (PTI) The passage of two bills for change of name of
Orissa and language of the state in the Lok Sabha was today marked by a
clash between BJD and Congress after a member from the ruling benches
attacked the Naveen Patnaik government for giving clearance apparently to
Posco plant.
The Orissa (Alteration of Name) Bill, 2010 and Constitution (113th
Amendment) Bill, 2010 for change of language were moved by Home Minister P
Chidambaram on the basis of resolutions passed by the Orissa Assembly.
The Bills provide for change of name of state to Odisha and language to
Odia.
Soon after the Bills were moved for consideration, Congress member Bhakta
Charan Das took the opportunity to attack the Navin Patnaik-led BJD
government accusing it of playing into the hands of corporates.
Oppn raps govt in LS for major scams
http://www.ptinews.com/news/1098461_Oppn-raps-govt-in-LS-for-major-scams
New Delhi, Nov 9 (PTI) The opposition in Lok Sabha today took the
government to task over various scams including allocation of 2G spectrum,
Commonwealth Games and Adarsh housing, and said the resignation of
Maharashtra Chief Minister Ashok Chavan was "not enough".
Raising the issue during Zero Hour, CPI(M) leader Basudeb Acharia, Leader
of Opposition Sushma Swaraj and JD(U) chief Sharad Yadav demanded thorough
probe into the scams as well as a statement from the government, saying it
was a matter of concern that so many "major scams" had taken place in the
past three-four years.
"The entire nation has been ashamed. Though he (Chavan) has resigned, mere
quitting the post of Chief Minister is not enough. An independent probe
(into the Adarsh Housing Society scam) is required. Government owes an
explanation to the people," said Acharia and sought punishment to all
those found guilty, including the "political bosses".
Maharashtra CM's post: Prithviraj & Vasnik in fray
http://www.ptinews.com/news/1098307_Maharashtra-CM-s-post--Prithviraj--amp--Vasnik-in-fray
Mumbai, Nov 9 (PTI) Following Maharashtra Chief Minister Ashok Chavan's
submission of resignation to the Governor today in the wake of the Adarsh
Housing Society scam, speculation is rife over his successor, with names
of a few central and state party leaders doing the rounds.
Names of Maharashtra Agriculture Minister Balasaheb Thorat, Union
Ministers Prithviraj Chavan and Mukul Vasnik as well as Vilasrao Deshmukh
are in the reckoning, Congress sources told PTI.
In case the high command vetoes Vilasrao's candidature as his name also
figured in the scam, he is all set to back Thorat, who enjoys clean image
in the state politics, sources said.
Thorat has been an MLA since 1985, a cabinet minister for last 11 years, a
staunch loyalist of Congress and Gandhi family and a leading figure in
state co-operative movement.
National Economic Trends
Remittance to India, dev nations to rise to $370 bn: WB
http://economictimes.indiatimes.com/news/economy/finance/Remittance-to-India-dev-nations-to-rise-to-370-bn-WB/articleshow/6894305.cms
WASHINGTON: Notwithstanding the recent global financial crisis, remittance
flows to developing countries including India is expected to reach $325
billion by the end of this year and is likely to exceed to $370 billion in
two years' time, the World Bank says.
According to the World Bank's latest Migration and Remittances Factbook
2011, remittance flows to developing countries is expected to reach $325
billion by the end of this year, up from $307 billion in 2009.
Worldwide, remittance flows are expected to reach $440 billion by the end
of this year.
"Remittances in 2008 and 2009 became even more of a lifeline to poor
countries, given the massive decline in private capital flows sparked by
the crisis," Dilip Ratha, manager of the migration and remittance unit at
the World Bank said.
Remittance flows to developing countries is expected to cross $370
billion, but this outlook is subject to the risks of a fragile global
economic recovery, volatile currency and commodity price movements, and
rising anti-immigration sentiment in many destination countries, the
report added.
Ratha further added, "high unemployment is prompting many
migrant-receiving countries to tighten immigration quotas, which would
probably slow the growth of remittance flows. Also uncertain currency
movements can have unpredictable effects on remittance flows."
In addition to crisis-related risks, regulations to combat financial crime
have become a roadblock to the adoption of new mobile money transfer
technologies for cross-border remittances.
"There is urgent need to reassess regulations for remittances through
mobile phones and mitigate the operational risks," Ratha said.
As per the report, India, China, Mexico, the Philippines, and France have
been top recipient countries in 2010 so far.
According to the Factbook 2011, the top migrant destination country is the
United States, followed by Russia, Germany, Saudi Arabia, and Canada.
The top immigration countries relative to population are Qatar (87 per
cent), Monaco (72 per cent), the United Arab Emirates (70 per cent),
Kuwait (69 per cent) and Andorra (64 per cent).
The report further added that Mexico-United States is expected to be the
largest migration corridor in the world this year, followed by
Russia-Ukraine, Ukraine-Russia, and Bangladesh-India.
Some developing regions in Europe and Central Asia, Latin America and the
Caribbean, the Middle East and North Africa, and Sub-Saharan Africa
witnessed larger-than-expected falls in remittances in 2009, while flows
to South Asia in 2009 grew more than expected. Those to East Asia and
Pacific rose modestly.
Govt to widen 3,770 km single-lane NH by 2014 with $2.96 bn World Bank
loan
http://economictimes.indiatimes.com/news/economy/infrastructure/Govt-to-widen-3770-km-single-lane-NH-by-2014-with-296-bn-World-Bank-loan/articleshow/6895096.cms
NEW DELHI: The government on Tuesday said it has sought $2.96 billion
(over Rs 13,000 crore) assistance from the World Bank for converting 3,770
km of single lane national highways into double lanes.
"The tentative time for completion of these stretches is up to year 2014,"
Minister of State for Road Transport and Highways RPN Singh told the Lok
Sabha in reply to a query.
The Road Transport and Highways Ministry has identified 33 such
single-lane stretches to be widened in the next four years.
"Under this plan, Arunachal Pradesh will be the biggest beneficiary with
1,940 km of its single lane highway proposed to be upgraded to 2 lane with
paved shoulders," Singh said.
The other states which would benefit the most from the scheme include
Bihar where 1,738 km will be converted into double lane followed by Madhya
Pradesh, which will see conversion of 1,622 km under the scheme.
Uttarakhand, Orissa and Rajasthan will also benefit under the plan as the
Ministry has identified 1,437 km, 1,255 km and 1,200 km highways in the
respective states for upgradation to double lanes.
The projects, as per information, would be undertaken under the National
Highways Development Project (NHDP) phase IV where the government has
already identified 19,702 km of single lane highways.
Business, Energy or Environmental regulations or discussions
Platts ranks Tata Power 4th fastest growing energy company
http://www.newkerala.com/news/world/fullnews-79597.html
Mumbai, Nov 8 : Tata Power, one of India's largest integrated private
power companies, today received the ranking of '4th Fastest Growing Energy
Company in Asia' under the Platts Top 250 Global Energy Company rankings
for their remarkable and consistent performance last year.
The 2010 Platts ranking reflects the company's strong financial
performance that is based on a combination of assets, revenues, profits
and return on invested capital. The 2010 ranking was announced in
Singapore and was attended by top energy companies from Asia, a release
here today said.
The ranking further reaffirms Tata Power's focused business growth roadmap
of achieving a generation target of 25,000 MW by 2017 which is backed by
the steady progress of executing green-field power projects such as Mundra
(4000 MW) in Gujarat and Maithon (1050 MW) in Jharkhand. Among the Asian
contenders, many Indian energy companies such as RIL, ONGC, HPCL, BPCL,
GAIL, PGCIL, NTPC and Coal India also feature in the list.
Tata Power's distribution business NDPL also received recognition as a
global finalist for technology adoption/ introduction.
The company's strong financial flexibility has also been recognised by
strong rating conferred by CRISIL (assigned an LAA (pronounced L double A)
rating for the proposed Rs 6.0 billion NCD programme) and ICRA (assigned
an LAA (pronounced L double A) rating for the proposed Rs six billion NCD
Programme) recently.
The Platts 2010 rankings is a recognition of the 2009 financial
performance of publicly-held energy companies based on a combination of
assets, revenues, profits and return on invested capital and further
highlights the continued leadership of the major oil and gas companies,
the rapid advance of the BRICs (Brazil, Russia, India, China) and the
resurgence of the global power sector, the release added.
Saint-Gobain talks to Jai Balaji, Dempo for pipe business
http://economictimes.indiatimes.com/news/news-by-industry/indl-goods-/-svs/metals--mining/Saint-Gobain-talks-to-Jai-Balaji-Dempo-for-pipe-business/articleshow/6894428.cms
France-based global conglomerate Saint-Gobain is interested in entering
the Indian ductile iron pipe business and is in talks with Indian players
Jai Balaji and Dempo, sources with direct knowledge told ET Now.
Sources said the deal may be under Saint Gobain PAM, one of the world
leaders in the DI pipe business. Saint Gobain PAM is a UK-based subsidiary
of the Saint-Gobain group. The exact contours of the deal is still not
clear as negotiations are on with the two players.
Kolkata-based Jai Balaji recently commissioned 240,000 tonnes per annum DI
pipe unit and has been in talks with Saint Gobain for sale of stake.
Sources say Jai Balaji may sell stake in the DI pipe business and raise
funds for the proposed five million tonne steel plant in Purulia district
in West Bengal.
V.S.Dempo &amp; Co is also in talks with Saint-Gobain for entering the
pipe business for value addition of pig iron produced by the group. Dempo
is looking at forward integration for better margins. Both companies are
discussing a joint venture in which Dempo can provide the key raw material
* pig iron, and Saint-Gobain can bring to table the global expertise in
the production and sales of ductile iron pipe.
In India, the group is present in the glass manufacturing business under
subsidiary Saint-Gobain Sekurit, which is listed on the Indian stock
exchanges.
Saint-Gobain Sekurit stock went up by over 6 per cent when ET Now broke
this news during the trading session on November 9.
Rajasthan to set up Ceramic and Glass hub near Neemrana
http://economictimes.indiatimes.com/news/news-by-industry/indl-goods-/-svs/paper-/-wood-/-glass/-plastic/-marbles/Rajasthan-to-set-up-Ceramic-and-Glass-hub-near-Neemrana/articleshow/6894994.cms
JAIPUR: Rajasthan Industrial Development and Investment Corporation
(RIICO) will set up Ceramic and Glass hub in 250 hectares at Gilot in the
industrial area of Neemrana , bordering DMIC, with piped natural gas,
RIICO Managing Director Rajendra Bhanawat said on Tuesday.
RIICO has earmarked the land and the hub would be offered to private
investors for setting up industries on ceramic and glass, which is
abundant in Rajasthan, Bhanawat told reporters here reporters in the press
conference for the first 'CERAGLASS India 2010', starting on November 11.
Bhanawat said Rajasthan alone meets 75 per cent of the country's demand of
bone china and would do more, if the very sector gets organised.
Sixteen industries from 16 countries, and 180 exhibitors would take part
in the four days conference, he said.
Speaking on the occasion, Shreekant Somany, chairman of the conference and
CMD Somany Ceramics Ltd , said cera has a total market of Rs 11,000 crore
and glass of Rs 18,000 crore annually, which accounted for about 5 per
cent of global productions.
Ceramics and Glass industry is growing at 15 per cent annually, much
higher than global average, but the fragmented and unorganised industrial
scenario was the key challenge, Somany said.
India lacks good and consistent quality raw material besides,
technological upgradation and environmental challenges, he said.
Tea exports up five per cent to 143.5 million kg
http://www.ptinews.com/news/1098418_Tea-exports-up-five-per-cent-to-143-5-million-kg-
New Delhi, Nov 9 (PTI) Tea exports from India increased by five per cent
during the January-September period of the current year to 143.5 million
kg, from 136.6 million kg in the corresponding period last year.
According to Tea Board data, both South and North India bettered their
tally to the export kitty to 72.6 million kg and 70.9 million kg, from
71.4 million kg and 65.3 million kg respectively from the year-ago period.
However, the average price for each kg exports dipped to Rs 132.4 during
the first nine months of the current year, as against to Rs 139.34 a
year-ago, leading to a fall in the export revenue.
While 136.6 million kg exports during January-September period of last
year fetched India Rs 1,903.77 crore, it fell to Rs 1,899.69 crore during
current year's first nine months.
Essar preferred bidder for Zimbabwe ZISCO: Source
http://economictimes.indiatimes.com/news/news-by-industry/energy/oil--gas/Essar-preferred-bidder-for-Zimbabwe-ZISCO-Source/articleshow/6895329.cms
MUMBAI: Essar Africa Holdings Ltd , an arm of India's Essar group, has
emerged as the preferred bidder for a majority stake in Zimbabwe's
state-run steel-maker ZISCO, a source with direct knowledge told Reuters
on Tuesday.
In July, Zimbabwe re-invited takeover bids for ZISCO, once a major foreign
currency earner, with the capacity to produce one million tonnes of steel
per year, setting a deadline of September 24.
Essar declined to comment. In May, Zimbabwe rejected bids by a unit of
ArcelorMittal and by India's Jindal Steel &amp; Power , which had been
shortlisted for the ZISCO stake, saying the bidders were too big and that
Zimbabwe preferred medium-sized investors for the company.
RBI re-introduces liquidity support measures
http://economictimes.indiatimes.com/news/economy/finance/RBI-re-introduces-liquidity-support-measures/articleshow/6894505.cms
MUMBAI: The Reserve Bank of India on Tuesday reintroduced recent measures
to provide liquidity comfort to banks, arising out of the frictional
liquidity pressure, it said in a statement.
It said it will conduct the second liquidity adjustment facility (LAF)
auctions between November 9 and December 16 on a daily basis at 4:15 pm
and banks can avail additional funds of up to 1 per cent of deposits under
the LAF on these days.
The central bank reiterated that these measures were temporary. The
central bank first introduced the measures on October 29 and later
extended them up to November 4.
Tata DoCoMo 3G comes at 0.66 paise per second call
http://economictimes.indiatimes.com/news/news-by-industry/telecom/Tata-DoCoMo-3G-comes-at-066-paise-per-second-call/articleshow/6894197.cms
NEW DELHI: Setting the tone for 3G mobile services, Tata Teleservices
which has DoCoMo of Japan as its partner, today announced the call tariff
at just 0.66 paise per second.
The company announced different tariff plans for both post-paid and
pre-paid 3G mobile services ranging from Rs 350 to Rs 2,000, which include
monthly minutes as well as data usage.
For example, in a monthly tariff package of Rs 2,000 the subscriber would
get 5,000 minutes voice calls, along with data usage of up to 2GB per
month.
Tata, however, clarified that pulse rate would be 'per second' and
subscribers would be charged only for number of seconds used.
The Company launched its 3G services this Diwali in nine Circles -
Karnataka, Kerala, Rest of Maharashtra, Gujarat, Rajasthan, Punjab,
Haryana, Madhya-Pradesh-Chhattisgarh and UP (West).
Other private operators like Bharti and Vodafone are also likely to start
3G services in the next few months. But the benchmark set by Tata DoCoMo
would once again put pressure on all the operators to follow 'per second'
pulse.
Immediately after the auction of 3G spectrum was held, the leading
operators had said that 3G mobile services would not come cheap as the
bids for spectrum (radio waves) were too high.
Similarly, for 3G data services on large screens like computers and
laptops, Tatas have announced a package of Rs 2,000 for 15 GB of data
usage at a speed of 21.1 Mbps. However, usage beyond 15 GB would be free
but at a speed of 256 kbps.
With nearly 80 million subscribers, both in mobile and landline segments,
the company is pinning hopes of generating revenues on 3G mobile as well
as data services, in the designated circles.
"In the Tata DOCOMO tradition of keeping things simple for the consumer,
the plans are honest, simple, transparent and easy to understand. Our very
approach to 3G pricing has been to take the 'worry' out of telecom,"
Deepak Gulati, Executive President, Mobility, TTSL, said.
He added, "Our dual-tone pricing strategy - Small Screen (mobile phones)
Plans and Large Screen (computers and laptops) Plans - provide tremendous
flexibility and value to our customers, enabling them to choose options
best suited to their usage patterns and share of pocket, thereby stamping
out any worry or concerns over heavy usage and high bills."
Gulati said the tariffs are designed to offer "total freedom to
customers-to stop them worrying about bills, freeing them to explore the
world-best 3G Life offered by Tata DOCOMO".
SKS Microfinance plans to cut rates to 24% across all states
http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/finance/SKS-Microfinance-plans-to-cut-rates-to-24-across-all-states/articleshow/6894457.cms
NEW DELHI: SKS Microfinance said on Tuesday it was planning to cut
interest rates to 24 per cent across all states, after an ordinance passed
by Andhra Pradesh imposed serious restrictions on its business model.
The latest move follows the company's announcement last month that it had
cut its annual rate of interest to 24.55 per cent from 26.69 per cent
effective immediately in Andhra Pradesh.
"The ordinance and its implementation will have material impact on the
company's operations in Andhra Pradesh," India's leading lender to tiny
businesses said in a statement.
The company is still not in a position to comment on the material impact,
and it was yet to decide on a time frame to implement the rate cut, a SKS
spokesman said.
India's microfinance industry, which surged to prominence when George
Soros-backed SKS raised $358 million in an IPO, faces a regulatory
clampdown that could erode profits and hurt growth.
Last month, the Andhra Pradesh government through an ordinance imposed a
limit on rates that the industry can charge customers and also curbed
aggressive recovery practices following several suicides by borrowers in
the state.
The state contributes 28 per cent of the current loan portfolio of the
company.
SKS is in talks with the Andhra Pradesh government and regulators like the
Reserve Bank of India and Ministry of Finance for "rectifying onerous
aspects of the Ordinance and its implementation," SKS said.
Microfinance firms typically give loans to small businesses that have no
access to banks and charge an effective rate of 28-32 per cent a year,
about double the rate on bank loans.
Apart from Soros, SKS is also backed by investors like Sequoia, Kismet
Capital, Unitus, venture capitalist Vinod Khosla and Infosys Technologies
founder N.R. Narayana Murthy.
Shares of the Hyderabad-based company, which the market currently values
at more than $1.6 billion, were down 3.3 per cent at Rs 966.85 in a Mumbai
market that was down 0.33 per cent.
AP offers land for Tata's Titanium refinery, steel projects
http://economictimes.indiatimes.com/news/news-by-industry/indl-goods-/-svs/steel/AP-offers-land-for-Tatas-Titanium-refinery-steel-projects/articleshow/6894514.cms
HYDERABAD: Andhra Pradesh is going all out to woo the Tatas to invest
massively in the state and set up manufacturing units in various sectors
and promised all necessary support from the government.
A day after his one-on-one interaction with Tata Sons Limited Chairman
Ratan Tata here, on the sidelines of the inauguration of Tata Advanced
Systems Limited's helicopter cabin manufacturing facility on Sunday,
Andhra Pradesh chief minister K Rosaiah addressed a letter to him offering
to allocate required land either near Visakhapatnam or in north coastal
Andhra districts of Vizianagaram or Srikakulam for setting up Tata's
Titanium refinery.
"Raw material for the refinery is available in the region," Rosaiah told
Ratan Tata.
The CM also wanted the Tata Sons Chairman to consider any future expansion
of Tata's automotive projects in AP for which "all necessary support will
be provided by the government."
Rosaiah recalled that the Tata Group scouted for land for locating their
Nano car project near Hyderabad.
"In view of the growing automobile market in India and the increasing
market share of Tata cars of various models they might be requested to
invest in the automotive sector in the state, either on the outskirts of
Hyderabad or any other location as per their choice," the Chief Minister's
Office quoted Rosaiah as requesting Ratan Tata.
Similarly, there was a good potential for a steel plant in the state for
which suitable site could be allocated in Anantapur or Kadapa districts of
Rayalaseema region.
"Since Tata steel project in Orissa is getting delayed, Andhra Pradesh
might consider to allot land required for the plant either in Anantapur or
Kadapa where suitable land is available with rail connectivity to Bellary
iron ore mines and Krishnapatnam port," the CM told Tata.
Experts' take on Power Grid Corp's FPO
http://economictimes.indiatimes.com/quickiearticleshow/6893599.cms
With the huge success of Coal India divestment through the biggest IPO in
India fresh in the minds of the investors, the government launched the
divestment of Power Grid Corp on November 9. The bidding will close on
November 12.
In the Power Grid follow on offering, worth approximately Rs 8,000 crore,
the government and the company has split the funds in equal proportion
since half of the total 84.2 crore shares are new shares being issued by
the company while the government is offloading an equal number of shares.
The offering is at a price band of Rs 85-90 per share.
For retail investors and Power Grid's own employees, there is a discount
of 5 per cent to the final price on offer and one could bid in a lot size
of 65 shares.
Click Next to find out what analysts have been saying about this issue.
Activity in the Oil and Gas sector (including regulatory)
ONGC to assert its pre-emption rights
http://profit.ndtv.com/news/show/ongc-to-assert-its-pre-emption-rights-119152?ch=dfs&pfrom=Business
Press Trust of India, November 9, 2010 (New Delhi)
Outraged by Cairn Energy's refusal to recognise its pre-emptive rights,
Oil and Natural Gas Corp (ONGC) is upping its ante against Vedanta
Resources by buying stake in UK-based firm's Indian unit.
The state-owned firm feels Cairn Energy is skirting real issues like
Vedanta's lack of experience in oil and gas sector in its haste to collect
up to $8.48 billion from its stake sale in Cairn India, an official in
know of details said.
It now wants to test Vedanta's technical expertise. ONGC by virtue of its
stake in several of Cairn India's 10 properties, including the giant
Rajasthan oilfields had asserted its preemptive or right of first refusal
and as per legal requirement sought to know Vedanta's technical expertise
and experience in exploration and production of oil/gas.
Cairn Energy in its October 29 letter said nothing on ONGC's request for
information on new buyer, he said.
"All that they say is that operating expertise of Cairn Group resides
within Cairn India. But does that mean expertise of people like Mike Watts
(Cairn Energy's exploration director who sniffed oil below Thar desserts
in Rajasthan) will continue to be available to Cairn India. The answer is
no," the official said.
"What if Cairn India's CEO Rahul Dhir who is face of the company and runs
operations now, quits and goes back to being a banker?" the official
asked.
Dhir's contract as CEO of Cairn India is expiring next year and Cairn
Energy has so far not initiated its renewal.
"What will be the fate of Cairn India then (when Dhir exits)? It will
definitely be run by someone from Vedanta and so logically ONGC wants to
know the expertise of Vedanta before allowing it to take over the
operations."
ONGC has legal opinion from the Solicitor General of India, the nation's
second-highest legal officer, to back its claims.
SGI in its opinion has stated that sale of 40 to 51 per cent stake in
Cairn India is effective transfer of operating control of a field like
Rajasthan, the mainstay property of Cairn India, and so requires
government nod and partner ONGC's approval.
Cairn India's main asset is the Rajasthan block that currently produces
1,25,000 barrels per day (bpd). At peak output of 2,40,000 bpd, it will
account for one-fifth of the nation's domestic oil production.
"We are not inclined to agree with your position that our consent and
pre-emptive rights are not required/triggered in relation to the sale of
up to 51 per cent of the equity shares of Cairn India by Cairn Energy Plc
and Cairn UK Holding Ltd (collectively, Cairn Energy) to Vedanta
Resources," ONGC had written to Cairn on October 21.
ONGC said it being the licensee of Rajasthan and Cambay basin CB-OS/2
blocks has "additional roles and responsibilities to ensure satisfactory
performance of the ongoing operations."
"We take this opportunity to remind you that the government of India
approved the award/transfer of the participating interest to
affiliates/subsidiaries of Cairn Energy, on the basis that Cairn Energy
shall stand guarantor to the government of India and ONGC, based on its
financial strength, technical expertise, worldwide experience in
exploration and production of oil/gas, including operatorship experience,"
it said.
Cairn had used the same corporate transaction logic to initially contest
the government's right to approve the deal but with oil ministry standing
firm, it relented and on September 9 applied for selective nod.
It made application for seven exploration acreage it won in New
Exploration Licensing Policy (NELP) rounds while leaving out the three
pre-NELP producing assets, including the Rajasthan block.
Pact to explore & produce shale gas
http://economictimes.indiatimes.com/news/news-by-industry/energy/oil--gas/Pact-to-explore--produce-shale-gas/articleshow/6891396.cms
NEW DELHI: India has signed an agreement with the US for technical
co-operation in exploration and production of country*s shale gas
resources. *The agreement will benefit India as US has rich experience in
shale gas production,* oil minister Murli Deora said on the sidelines of
an industry event organised to felicitate winners in the Commonwealth
Games , held last month.
According to the agreement, the US Geological Survey (USGS) will
co-ordinate with India*s Directorate General of Hydrocarbon (DGH), an
official in the oil ministry said.
USGS , America*s federal natural resources research agency, is already
assisting India for its national gas hydrate programme (NGHP).
DGH is preparing to launch shale gas bidding round by the end of 2011 and
aims to start commercial production of gas hydrates by mid 2015.
DGH, the technical arm of the oil ministry and custodian of India*s oil &
gas assets, has planned three- expeditions before starting commercial
production of methane from gas hydrates under the NGHP.
Militant Activity/Terrorism (Particularly in Bangalore, Mumbai, Noida, Chennai,
Coimbatore)
Surrendered militants in Tripura demand implementation of rehabilitation
package
http://in.news.yahoo.com/139/20101109/808/tnl-surrendered-militants-in-tripura-dem_1.html
Tue, Nov 9 02:45 PM
Agartala, Nov 9 (ANI): Over 200 surrendered militants staged a silent
protest outside the Police Headquarters in Agartala demanding immediate
implementation of rehabilitation packages promised to them by the State
government for laying down their arms.
The protestors demonstrated under the banner of Joint Action Co-ordination
Committee (JACC). They belonged to three militant groups called Tripura
Liberation Organisation Front (TLOF), Tripura Mukti Police (TMP) and
Lamakwtal.
Achai Khasrang Jamatia, of JACC said that the protest is being organised
to demand immediate implementation of rehabilitation packages.
"We are protesting in regard of rehabilitation proposed to us. After that
the government took the decision through rural development scheme and said
whatever their will be government approved scheme that will be provided
but till today it has not provided and practically I should say that it
has not yet implemented," he added.
He further said that the delay would have a negative impact in future on
the militants who are planning to surrender.
Earlier this year the surrendered militants had also gone for 'fast unto
death' hunger strike protesting against non-implementation of the
rehabilitation package. (ANI)
Maoists kill three villagers in West Bengal
http://in.news.yahoo.com/139/20101109/808/tnl-maoists-kill-three-villagers-in-west_1.html
Tue, Nov 9 02:45 PM
Jhargram, Nov 9 (ANI): Suspected Maoists brutally gunned down three
villagers, including a woman, in West Bengal's Jhargram district.
The bodies of the victims were found lying in the middle of the road in
Ganakkata village in the region.
The rebels dragged out the victims Sandhyarani Mahato (45), Rashbihari
Mahato (55) and Sheikh Wahid Ali (57) from their houses and shot them.
According to the police the Maoists targeted them as they suspected them
to be police informers.
Rashbihari Mahato was a supporter of the Communist Party of India-Marxist
(CPI-M), while Ali was an employee of the local Block office.
Sandhyarani, became a victim of the rebels as her son is a soldier in the
Central Reserve Police Force (CRPF). (ANI)
Three more killed by NDFB militants, toll rises to 21
http://www.ptinews.com/news/1098435_Three-more-killed-by-NDFB-militants--toll-rises-to-21-
Guwahati, Nov 9 (PTI) Three more persons were gunned down by NDFB rebels
today to take the overnight toll in serial violence in seven districts of
Assam to 21 as the authorities sounded a red alert across the state.
The rebels belonging to the anti-talk faction of the banned organisation
shot dead two Hindi-speaking persons of a minority community at Ultapani
in Kokrajhar district on the Indo-Bhutan border early this morning, police
said.
Then in neighbouring Chirang district, the NDFB ultras gunned down a cycle
mechanic at his residence at Domgaon village in the Bengtol police station
area, they said.
In night-long violence yesterday, the rebels had killed 18 people,
including eight Hindi-speaking and eight bus passengers, and injuring over
20.
Most of the attacks took place in Sonitpur district, bordering Arunachal
Pradesh, where 14 people had been gunned gunned down.
Labor/Social Unrest