Iran tests new long-range missile

surface missile that is capable of hitting targets in Europe.

Known as the Sajjil, it was described on state TV as a high-speed, solid-fuel missile with a high level of accuracy.

Defence Minister Mohammed Najjar said the missile was a defensive weapon.

Western nations and Israel suspect Iran is seeking to develop an atomic weapon and some have called for pre-emptive strikes against its facilities.

Speculation of a possible strike either by the US or by Israel rose earlier in the year, but has receded amid the lengthy US presidential election campaign.

However, US President-elect Barack Obama has refused to rule out the option of launching a military attack on Iran.

‘Deterrent doctrine’

Speaking on state TV, Mr Najjar said the new two-stage missile had an “extraordinarily large capability”, but gave few specific details other than its estimated range – of up to 1,200 miles (1,930km).

That would comfortably be enough to strike targets in Israel, as well as bringing into range a swathe of south-eastern Europe.

Iran’s current solid-fuel missile, the Fateh, has a range of just 100 miles (170km). Solid-fuel missiles are reputedly more accurate than liquid-fuel missiles, which make up the majority of Iran’s long-range arsenal.

“This missile test is in the framework of Iran’s deterrent doctrine,” the official Irna news agency quoted Mr Najjar as saying.

“It will only land on the heads of those enemies… who want to make an aggression and invade the Islamic republic,” he added.

In Washington, the US state department said the launch was “of concern to the international community”.

The Pentagon said the latest test demonstrated the need for the US to press ahead with its planned missile shield in Europe.

 

Suicide attack in Afghan

At least 20 civilians and an American soldier have been killed in a suicide car bomb attack against a US convoy in eastern Afghanistan, officials said.

The attack happened near Jalalabad, the capital of the eastern Nangarhar province.

At least 55 others have been wounded and taken to hospital, officials said.

A large number of foreign and Afghan troops are battling the Taleban in the south and east of the country and are routinely targeted by the militants.

The attacker detonated an explosives-laden vehicle close to the convoy on the road between the town of Torkham, on the Pakistani border, and Jalalabad, news agency AFP reported.

The incident took place near a wholesale fresh fruit market and an animal market in an area often packed with people, it said.

“One American soldier was wounded in the bombing and he died during transportation,” AFP quoted Major John Redfield, a spokesman for the US-led coalition as saying.

There are currently 33,000 US troops in Afghanistan.

US President George W Bush has announced that about 4,500 more soldiers would be sent to Afghanistan early next year.

 

Indian Software Engineer kill Wife, Children in US

The global meltdown has taken a heavy toll on Indian techies in the US. Three weeks after another techie Karthik Rajaram killed his family before shooting himself, 42-year-old Software Programmer Lakshminivasa Rao Nerusu, killed his wife and two children before fleeing from the spot. The incident occurred at Wharton Court in Novi area, 20 km from Detroit.

The victims were identified as Jayalakshmi Nerusu (37), her daughter Tejasvi (14) and son Siva (12). Lakshminivasa reportedly caused grievous injuries on the head and neck areas of the victims. The US police have launched a massive manhunt to nab Lakshminivasa. According to sources, Lakshminivasa had lost his job a few days ago and was on a state of depression. He originally belongs to Andhra Pradesh.

 

Moon Mission

The 49-hour countdown for the launch of India’s maiden unmanned moon mission scheduled to blast off on Wednesday from Sriharikota is progressing smoothly and there is no chance of the launch being postponed unless a cyclonic threat emerged, officials said.

The work on filling of propellant for the first stage of the polar launch vehicle had been completed and the second stage filling would be done tonight, Satish Dhawan Space Centre Associate Director Dr M Y S Prasad told PTI in Sriharikota, 80 km north of Chennai.

“The countdown, which started at 5.22 am on Monday, is progressing smoothly and the propellant filling of PS-2 (first stage) has been completed,” he said adding a total of about 43 tonnes of propellant would be filled. Asked about weather conditions in this space port town, which is witnessing isolated rains, he said the rains would not affect the launch.

“The rain does not matter as the spacecraft is fully rain-proof. Even if it is drenched, the launch would take place as per schedule,” he said. However, the launch might have to be rescheduled if there was cyclonic weather conditions, he added.

Chandrayaan-1 would put India in the elite lunar club comprising Russia, US, Japan, China and European Space Agency, which had undertaken unmanned exploratory missions to the moon.

 

Jet Airways

Jet Airways has decided to take back all sacked employees with immediate effect. Jet Airways Chairman Naresh Goyal held a press conference and announced this decision. “I apologise for all agony you went through. You are like my family. And, my conscience does not allow me to sack you”, said Naresh Goyal to his employees. “My management made the decision to sack employees because of financial woes. But I have reversed it. My management may not like my decision, but I made it. I feel mentally disturbed with the recent events. I do not look at economies, I go with my conscience” said Naresh Goyal. Jet Airways Chairman Naresh Goyal firmly said that he did not act under pressure. He even denied of having meeting any political leaders. As the news of cancellation of retrenchment in Jet Airways flashed on the TV channels, the fired employees erupted into joy and celebrations. They termed it as a major victory and distributed sweets to each other. Naresh Goyal confirmed that there would not be any retrenchment or lay offs in Jet Airways. However, he stressed on the need of cutting costs by every possible means. He also urged the government to come forward to bail out the sick aviation industry and loss-making airlines. Union Civil Aviation Minister Praful Patel termed Jet Airways’ decision to take back all sacked employees as a welcome step.

The Lankan government believes that the quarter-century old militant movement of the Liberation Tigers of the Tamil Eelam is in its last phase. The Sri Lanka [Images]n army is merely 1.2 miles away from Kilinochchi, the LTTE’s headquarters in northern Sri Lanka. According to Colonel R Hariharan, a retired military intelligence specialist who served as the head of intelligence of the Indian Peace Keeping Force in Sri Lanka from 1987-90, “Six divisions of the Sri Lankan army have gheraoed Kilinochchi.The rains and the dense tall vegetation make airstrikes very difficult. The situation is critical for both sides.” The Sri Lankan defence ministry claims that the army has killed 7,553 rebels since Sri Lanka pulled out of a Norwegian-backed truce in January, while 748 soldiers have died in the clashes. By all accounts the situation is a turning point in Sri Lanka’s blood-soaked ethnic history. President Mahinda Rajapakase has waged a decisive battle against the LTTE and seems to be winning it so far. His critics allege that he is looking for a military solution and not for a political dialogue. The Pesident’s supporters claim that he had offered an olive branch to Prabhakaran, when he came to power. Rajapkse had offered to have a structured dialogue but the LTTE did not respond, so he was left with no option but to go for an armed offensive. As the LTTE is pushed to the wall, allegations of the sufferings and misery of the Lankan Tamils have been reported, particularly due to heavy air strikes. Even some Europe-based experts on Sri Lanka have started saying that government’s “attitude and actions are that of an invading country in an enemy’s territory.” The use of air power against its own people is severely objected to by critics of Sri Lankan government. B Raman, rediff.com columnist and a Chennai-based expert on security matters said, ” The continuing use of indiscriminate air strikes by the Rajapakse government against the Tamil civilian population in order to intimidate it into stop supporting the LTTE has come in for strong criticism.” Sri Lanka is more confident than ever that it will get rid of the LTTE menace because it has been able to get all manner of help from China, Pakistan, Iran and the United States. In geo-strategic terms the Lankans are better consolidated than ever, with China building a port south of Colombo, India and Pakistan training the Sri Lankan army on a regular basis and the US and Iran supporting government in terms of resources and materials. The Sri Lankan economy is also stable and sturdy. Some weeks ago, a senior officer of Sri Lanka had said “We are seeing light at the end of the tunnel after 25 long years of struggle. We have had significant success in the operation against the LTTE. It is on run, they are running with full pockets.” While showing maps of 2006 and 2008, the officer said that 75 percent of thearea has been recaptured and the fighting capacity of the LTTE had been seriously eroded. The Sri Lankan government had been able to hold elections in the estern province too, he said. The Lankan government’s assessment is that LTTE chief Prabhakaran has been pushed into his hide-out with 3,000-4,000 cadres at most. As the battle become decisive in the Kilinochchi, pressure is building up within Tamil Nadu, where politicians are guessing that the LTTE is cornered. The question on everyones lips seems to be what effect the fall of LTTE chief Prabhakaran will have on the region. The Tamil politicians are completely divided and the nuance is lost, the divide complete. Those who are speaking for the plight of the Sri Lankans Tamils because they are also being killed with LTTE militants are being silenced by the critics of LTTE. While those who speak for the LTTE have a weak case due to India’s current sufferings due to terrorism and also because the politics over the Sri Lankan issue is more complex with Prabhakaran and his deputy Pottu Amman, being prime accused in the Rajiv Gandhi murder case. India wants them tried in Indian courts. It is not possible for India to unconditionally start or participate in any dialogue with these two Tamil-militant leaders. Hawkish Tamil leaders like Vaiko want to break diplomatic ties with Sri Lanka while Chief Minister M Karunanidhi has told PM Manmohan Singh to implore Rajapakse to find a political solution and not resort to brute force. Under Karunanidhi’s leadership a resolution has been passed to create pressure on government to get Sri Lanka to declare a ceasefire. J Jayalalitha has targeted Karunanidhi, “If India interferes with the internal affairs of Sri Lanka there is a possibility that our neighbouring countries could begin interfering with our internal affairs. It will create trouble for India’s sovereignty. The countries in the world will not accept India interfering with the affairs of another country.” Jayalalitha further says, “The important thing was to prevent the Indian Army from providing training to the Sri Lankan Army and to stop the military offensive against the Sri Lankan Tamils. But Karunanidhi is not making any efforts in this regard.” The editorial column written by Malini Parthasarathy in The Hindu titled The dangers of Tamil chauvinism strongly argued that, ” The latest campaign in Tamil Nadu masterminded by a desperate LTTE must not be allowed to undermine the sound policy decision upheld by successive Indian governments since 1991 to stay out of Sri Lanka’s internal affairs.” Hariharan points out that recently The New Indian Express carried a survey that reflected the complexities of the matter. Hariharan said, “51 percent of respondents have said that India should lift the ban on the LTTE. But, only 30 percent have said that they are freedom fighters. 31 percent have said that India should send troops if Prabhakaran is cornered. While 40 percent of people have said they would like to donate for the cause of a Tamil Eelam. Do not equate public sympathy for Tamil rights with support for the LTTE.” Many critics of LTTE think “the game plan of the LTTE and its supporters is to rally the Tamil chauvinist sentiment” so that the siege around Kilinochchi can be relaxed. Raman disagrees that Tamil politicians are trying to bail-out Prabhakaran. “The LTTE is not using Tamil politicians. The case of Vaiko is different but one can’t say same thing about parties like the Dravida Munnetra Kaghazham and the Congress. The people are genuinely concerned about the hawkish statements made by Sri Lankan army chief Lt.Gen.Sarath Fonseka and Gothbaya, brother of President Mahinda Rajapaksa is also causing tension. There will be repercussions if Parabhakaran is killed. Tamil politicians would like to prevent the tension spreading in the state,” Raman said. In his interview to the Canadian daily National Post, General Fonseka said “I strongly believe that this country belongs to the Sinhalese but there are minority communities and we treat them like our people�being the majority of the country we will never give in and we have the right to protect our country�We are also a strong nation . They(minorities) can live in this country with us, but they must not try to, under the pretext of being a minority, demand undue things.” An All India Dravida Munnetra Kazhgham leader speaking off the record told rediff.com, “We dislike the LTTE and do not support it but no way it should stop us from raising the voice against butchering of Tamils in Sri Lanka.” Raman points out that it’s not only issue of Sri Lankan Tamils rights alone that is hurting psyche of people. He says, “There has been a perceptible disenchantment in Tamil Nadu over what is seen as the lack of interest shown by Manmohan Singh in the problems of the Sri Lankan Tamils. He is being compared unfavourably with Indira Gandhi and Rajiv Gandhi, who took a keen interest in the problems of the Tamils and did not hesitate to take up the matter strongly with the governments in power in Colombo.” Raman says that this disenchantment has turned into shock following reports of two Indian radar technicians being injured when two planes of the LTTE’s air wing bombed a Sri Lankan military base in Vavuniya in September.” Hariharan says, “I don’t see what Indian government can do beyond a point. The two warring sides don’t want Indian help. They may be asking for Indian help but, at least they have not quantified it, so far.” Interestingly, no Tamil party has spelled out , in practical terms how much India can influence the Sri Lankan government who are fighting most important battle on their land. Hariharan puts forward a few conditions before India can increase its involvement in the issue. He says, “India can interfere only if there is a chance of peace. We cannot get into a ‘1987 type’ situation. We must take into account the trade between two countries at $4 billion. Any miscalculation can directly impact it. We are facing a strategic challenge in Sri Lanka because Iran, Pakistan and China are helping Rajpakasa. It’s the leverage he has. The Sri Lankan parliament has 42 Tamil-speaking MPs who should also put pressure on the government.” Interestingly, a vocal supporter of the LTTE in Chennai told rediff.com, “The siege of Kilinochchi will prove to be the siege of Leningrad. Hitler’s army besieged the city for 872 days but still could not oust the Russians, who put up a heroic struggle. The LTTE will also win the battle of Kilinochchi using the same tactics as the Russians. You can expect a surprise.” Even if the Sri Lankan government wins the battle, will their win bring peace to the island nation is the moot question. They will have to start a reconciliation process, says Rajapakse supporters. Raman says, “Very few in Tamil Nadu take seriously the assurances of Rajapaksa that after neutralising the LTTE as a terrorist organisation, his government will initiate political measures for meeting the legitimate aspirations of the Tamil people.”

While the economic recession has spelt doom for many, this could be a bit of good news. Oil prices, which were zooming to all-time highs have crashed. Oil prices have hit a 13-month low of $68.50 a barrel. Oil prices had crossed the $100-mark for the first time in 2008. The prices further zoomed to $147 in July. There were even predictions that oil would hit the $200 mark! The surge in oil prices was alarming…the fall in the dollar rates was one of reasons for the rise in oil prices. A weaker American currency tends to increase the demand for dollar-denominated oil as it becomes cheaper for buyers using stronger currencies. Oil prices also rose as investors saw it as a safe investment amid fears of rising inflation and a US recession. However, demand started slowing down drastically in the wake of the recession in developing countries. The downslide began…

In a major breakthrough the Orissa police on Thursday claimed that the mastermind behind Vishwa Hindu Parishad leader Laxamananda Saraswati’s killing had been identified as a group had hired the Maoists to execute the crime. “Maoists were given money to train certain youth of a particular community to eliminate Saraswati,” inspector general of police, crime branch, Arun Ray told PTI asserting the mastermind of the killings had been identified. Stating the mastermind had fled Orissa, the IG said “we will trace them soon.” The plan to eliminate Saraswati was made immediately after the December, 2007 communal violence in Kandhamal, he added. Elaborating the probe by the crime branch, Ray said investigations also showed that a group had collected money from some villages in Kandhamal which was given to the Maoist group to train their youth for the purpose. At least 60 youth were given arms training by the Maoists, the IG said dwelling on the inputs from the three arrested persons. Ray said members of a particular community were unhappy with Saraswati and held him responsible for the riots which took place during Christmas in 2007. They requested a Maoist group to assist them in killing Saraswati, he said. Confirming that six Telugu-speaking persons fired at Saraswati and others, the crime branch investigation revealed that the trained group were guarding the ashram at Jalespeta in Kandhamal during the incident. Refusing to divulge identity and religion of the mastermind behind the killing which sparked communal violence in Kandhamal, The IG said the Maoists only executed the crime.

World number two Roger Federer has surpassed Pete Sampras to become the all-time leader in career prize money earnings in men’s tennis, the ATP said on Thursday. The five-times US Open champion took his career earnings to over US $ 43.3 million at the Madrid Masters this week. Federer toasts US Open high five American Sampras earned $ 43,280,489 in a glittering career that included 14 Grand Slam titles. Federer is one behind that record too with 13. “Obviously it’s nice to have records. I didn’t play tennis because of money, that was never my drive but I have been very successful,” Federer said after beating Jo-Wilfried Tsonga to reach the quarter-finals on Thursday. “I’ve had an incredible run in Slams lately that racks up the money and also the Masters Cup, there is a lot of money involved there. “I guess this is also the moment when you can thank the all-time greats from back in the day when it was still amateur to have brought the game to where it is today. They have created the platform for us players today.” Federer meets Argentine Juan Martin del Potro in the last eight of the Madrid Masters on Friday.

After a 52-day nightmare , Kiran D’Souza who was on the ill-fated cargo ship hijacked by Somalian pirates is finally back home. The 28-year old seaman finally reached home on Thursday. Kiran who landed in Mangalore this morning was received by all his family members who were obviously emotional on seeing him after such a long time which was filled with anxiety and unlimited waiting. Kiran was one of the seamen working in the ship, Iran Deynat which was hijacked by Somalian pirates on August 21, 2008. After much deliberation and negotiation, Kiran is finally back at home. Sounding tired yet relieved, Kiran took a few moments off to share his nightmarish experience of 52 days in captivity with rediff.com.

 

Nehru nominated for Nobel prize not once, but 11 times

New Delhi: The Nobel Foundation ignored not only Mahatma Gandhi but also India’s first Prime Minister Jawaharlal Nehru, one of 20th century’s leading statesmen, for the peace prize, not once but on 11 occasions.

Though the details of past nominations are kept confidential, the foundation has opened the database for 1901-56. A search through it shows that the name of Nehru was under consideration during the early 1950s when he was building the foundations of a modern India.

In 1950, there were two nominations considered by the Nobel Committee. L R Sivasubramanian, a Delhi University professor of law, and M Venkatarangaiya, a Bombay University professor of political science, sent in the nominations.

Jens Arup Seip, a professor of the university of Oslo, did the evaluation of the nomination.

Coincidentally, the committee also considered nominations of Maharshi Aurobindo, a radical freedom fighter turned spiritual leader, and S. Radhakrishan, another freedom fighter and statesman who was to later become India’s president (1962-67).

In 1950, the most coveted prize in the world went to Ralph Bunche, an American political scientist and diplomat, for his late 1940s mediation in Palestine.

In 1951, Panditji, as he was popularly known, was nominated thrice. The nominations were sent in by Emily Greene Balch of the US, Nobel Peace Prize laureate of 1946, Lewis Hoskins on behalf of the American Friends Service Committee and Shrinavala Sarma on behalf of the “Professors at the University of Madras.”

All three nominations were evaluated by Seip.

Léon Jouhaux, a French trade union leader, won the peace prize in 1951.

Three more nominations in favour of Nehru were sent to Sweden two years later – all from Brussels. “Several Members of the Belgian National Assembly,” “Several Members of the Belgian Senate” and “Several Professors of the university of Bruxelles” were the nominators. K Getz Wold was the evaluator and August Schou also wrote an additional evaluation, according to the database.

The 1953 Peace laureate was George C Marshall, who led the US Army during World War II.

The year 1954 saw two nominations for Nehru, both along with British Prime Minister Clement Attlee “for their work for the peaceful settlement between Great Britain and India in 1947”. Seip himself was one of the nominators.

The honour that year went to the Office of the United Nations High Commissioner for Refugees.

Edmond Privat, a professor of the Neuchatel university in Switzerland, again nominated Nehru in 1955. That year, no winner was announced and the prize money was “allocated to the Special Fund of this prize section.”

 

Breaking News

According to TV reports, the Tatas have finally decided to roll out their dream Nano Car project from Gujarat. Tata Motors Chairman Ratan Tata and Gujarat CM Narendra Modi will address a joint press conference today to announce this much-awaited decision. Tatas’ decision to roll out Nano from Gujarat has come as a huge victory for Gujarat CM Narendra Modi who completes seven years in office today. According to sources, Tata Motors has selected Sanand, 25 km from Ahmedabad for the relocation of Nano plant. Tatas have already pulled out of Singur, West Bengal. The Gujarat government reportedly agreed to transfer 1,000 acres of land to Tata Motors. the land is located within the 2,200-acre campus owned by the Anand Agriculture University. The University has already transferred that land to the government. According to TV channels, both Tatas and Gujarat government officials are trying to reach a deal that will favour both parties and remove all confusions. The Tatas are on a high, as they are getting invitations from Karnataka, Andhra Pradesh, Maharashtra, Haryana, Orissa and many other states. It will be a prestige issue for Gujarat CM Narendra Modi and he will never let this opportunity go.

Within days of exiting from West Bengal, Tatas have decided to relocate their Rs 1 lakh-Nano car project in Gujarat, after scouting many sites including that Karnataka and Andhra Pradesh. Tata Group Chief Ratan Tata and the Chief Minister Narendra Modi would jointly announce the project in the state later in the day, officials said. Tatas have identified the site at Sanand, near Ahmedabad, where the state government will give 1,000 acres land from the Anand Agricultural University for housing the project. The new project site was finalised last evening after yet another visit by the Tata Motors officials, who in the last few days had scouted for possible locations in many other states. Ever since the Tatas faced political resistance in West Bengal for their project at Singur various state governments, including Karnataka and Andhra Pradesh, were in the race to woo Tatas to set the manufacturing facility for the cheapest car in the world.

Stocks tumbled around the world following the credit crisis that has ravaged the world financial markets, and even the Bombay Stock Exchange’s 30-share index — the Sensex — yo-yoed through the trading day. In the morning, the Sensex bucked the trend following the CRR cut by the Reserve Bank of India and the lifting of curbs on P-Notes by Sebi and was up 290 points at one point. It then started to plummet and lost over a 100 points to plummet to 11,700. The Sensex then rose once more by 104 points at 11,906, only to fall yet again. The Sensex is now down by 159 points at 11,642. The NSE Nifty too is down 27 points at 3,576. Ranbaxy has soared nearly 5% to Rs 258. DLF and NTPC have surged over 3.5% each to Rs 313 and Rs 175, respectively. ONGC and Reliance Infrastructure have rallied 3% each to Rs 1,011 and Rs 657, respectively. Reliance and Bharti Airtel have gained 2.7% each at Rs 1,687 and Rs 749, respectively. BHEL has moved up 2.4% to Rs 1,484. HDFC, Tata Motors, Jaiprakash Associates and Grasim are up nearly 2% each, ITC and Larsen & Toubro (L&T) have slumped 4.7% each to Rs 172 and Rs 1,033, respectively. Mahindra & Mahindra has tumbled 3.5% to Rs 485. Sterlite has plunged 3% to Rs 326. Satyam has shed 2.7% at Rs 286. TCS and HDFC Bank have slipped around 2% each to Rs 606 and Rs 1,179, respectively. Tata Power and Hindalco are down over 1% each at Rs 788 and Rs 95, respectively.

The bailout package failed to revive the mood in American market, as the Dow Jones shed 800 points to fall below 10,000-mark for the first time since 2004. While the European markets struggle to cope up with the credit crunch, the fall in US market, deepened the global financial crisis. The Dow Jones finally closed at 9,955 at the end of Monday’s trading. The recession fears are now looming large, as the markets across the world are going down. The US, European countries and Asian countries such as India and Japan are feeling the heat of credit crunch. The Federal Reserve (Fed) tried to revive the financial stability in the US market by increasing the amount of short-term lending money to $600 billion, but in vain.

 

Breaking News

According to TV reports, the Tatas have finally decided to roll out their dream Nano Car project from Gujarat. Tata Motors Chairman Ratan Tata and Gujarat CM Narendra Modi will address a joint press conference today to announce this much-awaited decision. Tatas’ decision to roll out Nano from Gujarat has come as a huge victory for Gujarat CM Narendra Modi who completes seven years in office today. According to sources, Tata Motors has selected Sanand, 25 km from Ahmedabad for the relocation of Nano plant. Tatas have already pulled out of Singur, West Bengal. The Gujarat government reportedly agreed to transfer 1,000 acres of land to Tata Motors. the land is located within the 2,200-acre campus owned by the Anand Agriculture University. The University has already transferred that land to the government. According to TV channels, both Tatas and Gujarat government officials are trying to reach a deal that will favour both parties and remove all confusions. The Tatas are on a high, as they are getting invitations from Karnataka, Andhra Pradesh, Maharashtra, Haryana, Orissa and many other states. It will be a prestige issue for Gujarat CM Narendra Modi and he will never let this opportunity go.

Within days of exiting from West Bengal, Tatas have decided to relocate their Rs 1 lakh-Nano car project in Gujarat, after scouting many sites including that Karnataka and Andhra Pradesh. Tata Group Chief Ratan Tata and the Chief Minister Narendra Modi would jointly announce the project in the state later in the day, officials said. Tatas have identified the site at Sanand, near Ahmedabad, where the state government will give 1,000 acres land from the Anand Agricultural University for housing the project. The new project site was finalised last evening after yet another visit by the Tata Motors officials, who in the last few days had scouted for possible locations in many other states. Ever since the Tatas faced political resistance in West Bengal for their project at Singur various state governments, including Karnataka and Andhra Pradesh, were in the race to woo Tatas to set the manufacturing facility for the cheapest car in the world.

Stocks tumbled around the world following the credit crisis that has ravaged the world financial markets, and even the Bombay Stock Exchange’s 30-share index — the Sensex — yo-yoed through the trading day. In the morning, the Sensex bucked the trend following the CRR cut by the Reserve Bank of India and the lifting of curbs on P-Notes by Sebi and was up 290 points at one point. It then started to plummet and lost over a 100 points to plummet to 11,700. The Sensex then rose once more by 104 points at 11,906, only to fall yet again. The Sensex is now down by 159 points at 11,642. The NSE Nifty too is down 27 points at 3,576. Ranbaxy has soared nearly 5% to Rs 258. DLF and NTPC have surged over 3.5% each to Rs 313 and Rs 175, respectively. ONGC and Reliance Infrastructure have rallied 3% each to Rs 1,011 and Rs 657, respectively. Reliance and Bharti Airtel have gained 2.7% each at Rs 1,687 and Rs 749, respectively. BHEL has moved up 2.4% to Rs 1,484. HDFC, Tata Motors, Jaiprakash Associates and Grasim are up nearly 2% each, ITC and Larsen & Toubro (L&T) have slumped 4.7% each to Rs 172 and Rs 1,033, respectively. Mahindra & Mahindra has tumbled 3.5% to Rs 485. Sterlite has plunged 3% to Rs 326. Satyam has shed 2.7% at Rs 286. TCS and HDFC Bank have slipped around 2% each to Rs 606 and Rs 1,179, respectively. Tata Power and Hindalco are down over 1% each at Rs 788 and Rs 95, respectively.

The bailout package failed to revive the mood in American market, as the Dow Jones shed 800 points to fall below 10,000-mark for the first time since 2004. While the European markets struggle to cope up with the credit crunch, the fall in US market, deepened the global financial crisis. The Dow Jones finally closed at 9,955 at the end of Monday’s trading. The recession fears are now looming large, as the markets across the world are going down. The US, European countries and Asian countries such as India and Japan are feeling the heat of credit crunch. The Federal Reserve (Fed) tried to revive the financial stability in the US market by increasing the amount of short-term lending money to $600 billion, but in vain.

 

Sensex Crashes

BSE Sensex crashes, falls below 12,000-mark The BSE Sensex crashed by over 500 points to fall below 12,000, a two-year-low for the premier stock exchange of India. There is a bloodbath on Dalal Street with major companies such as Tata Power and Sterlite suffering huge loses in the market meltdown. Even though the US House approved the $700 bailout package, it failed to revive the market mood. The Nifty too suffered a loss of over 165 points till 1 PM.

UPA Allies seek ban on Bajrang Dal Even as the Prime Minister has called a meeting of National Integration Council (NIC) on October 13 to discuss the communal violence in Kandhamal and Karnataka, UPA allies have demanded a complete ban on Bajrang Dal and its activities in the country. The National Commission for Minorities (NCM) has already recommended a ban on Bajrang Dal in the wake of attacks on Christians in Kandhamal, Karnataka and Madhya Pradesh. Kandhamal has been an eye of the storm, as violence continued there for more than a month. At least 35 people were killed in communal clashes, over 1000 houses were burnt, a nun and a Hindu girl were raped. Over 30,000 people were forced to take shelter in forests and later in relief camps. The communal violence was triggered by the killing of senior VHP leader Swami Laxmanananda Saraswati at Jalespata Ashram in Kandhamal. Can we assure that UPA government will take action against MNS and Assam Unit of Congress Party Communist party in Best Bengol for killing of innocent People..

 

Todays hot

One person was killed and more than 50 people injured in communal clashes at Rabodi in Thane. The violence occurred over the issue of setting up a ‘puja pandal’ for the Navratri festival. The minority community alleged that the pandal was being set up over their land. That triggered the clashes. Situation is tense, but under control. Security forces have been deployed to maintain law and order.

——————————————————————————————–
More than 100 people were killed and 250 injured when a stampede occured in the Chamunda Devi temple at Mehrangarh Fort, Jodhpur in the wee hours today. Over 25,000 people had gathered in the temple on the first day of Navratri celebrations. According to sources, the stampede occurred due to a bomb scare, but it was not confirmed.

The injured have been rushed to Mahatma Gandhi hospital in Jodhpur. Police and district administration have rushed to the spot. Rescue operations have been stepped up. The death toll could go up, as more people are feared trapped inside.
——————————————————————————————

Just half an hour after the blast in Modasa town in Sabarkantha, Gujarat, another low intensity blast killed three persons and injured seven people in Malegaon, Maharashtra. The blast occurred at Anjuman Chowk.

According to sources, the bomb was planted on a motorcycle, which is quite similar to the blasts in Mehrauli and Modasa, Sabarkantha. However, police sources said that it could be cylinder blast. Both Modasa and Maelgaon are communally sensitive areas.

While one person was killed in the blast, two others were killed in the stampede aftermath blast. High alert has been issued in Malegaon. Over 50 people were reported injured in the stampede. According to latest reports, an angry mob attacked the police vehicles, forcing the police forces open fire in the air. Six policemen including the SP were injured in the clashes.

Like Sabarkantha, Malegaon is also Muslim-dominated. Bomb blasts on the eve of Eid and Navaratri, is certain to lead to a communal flare-up in these areas. Situation is tense in Malegaon.

——————————————————————————————
Reports are coming from Gujarat that a low intensity bomb blast killed 2 persons and injured at least 8 people in Modassa town of Sabarkantha district of Gujarat. The blast reportedly occurred on a Hero Honda motorcycle at 8.30 PM. Both youth, who were killed in the blast belonged to Muslim community.

The blast was quite similar to Mehrauli blast. Sabarkantha is one of the most communally-sensitive areas in the state, which is largely Muslim-dominated. The exact location of the blast was Sukhabazar in Modasa town. The police have confirmed that it was a bomb blast and cordoned off the area. Further details are awaited.

—————————————————————————————–

The Chandigarh police arrested a person in connection with the molestation of a German tourist in Chandigarh. It could be recalled that a German tourist was kidnapped from Hotel Taj on Sunday and was molested by a group of youth. The victim later lodged a police complaint. The police identified the youth from the CCTV footage available in the hotel.

A case of attempt to rape, abduction and molestation has been registered against six youths in connection with the incident. The police is looking for other accused who are still at large. Meanwhile, the medical reports ruled out rape, but confirmed the molestation. According to the victim, she had some drinks in the hotel and later found a group of youths standing by a Scorpio. She had some friendly conversation with them and agreed to take a drive with them. The youth took her away, molested and beat her up when she protested

———————————————————————————————
Stock Markets in the US crashed after the House of Representatives rejected the US$ 700 billion bailout package to revive the American economy. The bill, which was aimed at stabilizing the US economy, was rejected by 226 votes to 207 in the House of Representatives on Monday. The rejection came as a rude shock for the Bush administration.

The Dow Jones plunged by more than 600 points after the bailout package was rejected. Experts believe that the crisis on Wall Street could have disastrous repercussions for the entire global economy. Indian stock market may witness a heavy downfall tomorrow when it opens in the morning.

———————————————————————————————

The shares of ICICI Bank, India’s second biggest bank, fell by 14 percent on Monday, as the global banking crisis deepened. ICICI shares hit a two-year-low amid reports of foreign fund selling and concerns about the impact of global credit crisis. The latest crisis in the US, which saw Lehman Brothers, Merrill Lynch, AIG and Washington Mutuals crashing down. has had its impact on ICICI Bank.

The ICICI shares now stand at Rs 493, which is a 52-week low price. Shares of other Indian banks also fell drastically. While the SBI shares fell by 5.31 percent, HDFC and PNB also witnessed a fall of 4.3 percent and 2.5 percent respectively.