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Apple CEO 2012 pay to drop to $4.17 mln from $378 mln in 2011

Written By Unknown on Kamis, 27 Desember 2012 | 23.06

Thu, Dec 27, 2012 at 21:06

APPLE-TIM-COOK:Apple CEO 2012 pay to drop to $4.17 mln from $378 mln in 2011

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NEW YORK (Reuters) - Apple Inc

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23.06 | 0 komentar | Read More

Brazilians top for New Year celebrations: survey

LONDON (Reuters) - Dancing to the beat alongside a Brazilian on Copacabana beach on New Year's Eve appears to be the dream way to ring in 2013 if a global survey of 17,000 people is any indicator.

The survey conducted by social network Badoo.com (www.badoo.com) across 17 countries and four continents showed Brazilians were considered the top nationality the rest of the world would most like to share New Year's with.

Americans ranked second in the poll, with Spaniards, Italians and the French coming third, fourth and fifth. Belgians and Swiss ranked joint last.

"This seems harsh on the Swiss and Belgians", Badoo director Louise Thompson said. "But I can understand that most people would rather celebrate New Year's Eve on a beach in Brazil than by huddling against the cold in northern Europe."

New Year's Eve falls in the middle of Brazil's summer, which makes the climate perfect for huge, outdoor parties of the kind Brazilians enjoy attending with friends or family to welcome the new year.

The festivities are held in cities across the country, but Rio is judged to have the best, including Brazil's most famous New Year's Eve event - the giant gathering on Copacabana beach, attended annually by some 2.5 million revellers and widely considered the best New Year's Eve party in the world.

Spanish also gather en masse on New Year's Eve in Puerta del Sol in Madrid, where both those present and many more watching at home listen to the clock chime 12 times while eating one grape on each chime, to bring prosperity for the new near.

The Italians, who ranked fourth in the Badoo poll, brought a more romantic flavour to New Year's Eve gatherings by staging a mass kiss in Venice's Piazza San Marco.

None of these gatherings, however, can match the scale of the festivities on Rio's Copacabana beach, which are also famed for their spectacular fireworks display. Ocean liners are known to moor nearby to watch.

For those near the beach on New Year's Eve, the tradition in Brazil is to jump seven waves at midnight while throwing flowers in the sea and making a wish - one wish for each wave.

Sao Paulo, Brazil's biggest city, also boasts a giant New Year's Eve party, held in Paulista Avenue and attended by over a million merrymakers. Only in Brazil could a party this big rank second best.

There may, however, be one way Europeans can claim to surpass the Brazilians on New Year's Eve, which is when it comes to clothes.

Brazilians traditionally dress in white on New Year's Eve, to bring luck for the new year. This tradition turns Rio's Copacabana beach into a giant carpet of white.

Both the Spanish and Italians, however, take a more colourful approach - welcoming the New Year by observing the local custom of wearing red underwear for good luck.

Badoo is a site for chatting, flirting, dating and meeting new people, with 168 million users across over 180 countries. (Reporting by Paul Casciato)



23.06 | 0 komentar | Read More

Syria envoy calls for political change to end conflict

By Dominic Evans and Erika Solomon

BEIRUT (Reuters) - The international envoy seeking a solution to Syria's 21-month-old conflict said on Thursday political change was needed to end the violence which has killed 44,000 people, and called for a transitional government to rule until elections.

Speaking in Damascus at the end of a five-day trip during which he met President Bashar al-Assad, Lakhdar Brahimi did not spell out detailed proposals but said that only substantial change would meet the demands of ordinary Syrians.

Russian Foreign Minister Sergei Lavrov added to the envoy's call for a peaceful solution when he told a senior Syrian diplomat that only a "broad inter-Syria dialogue and political process" could end the crisis.

Brahimi's push for a transitional government suggested he was trying to build on an international agreement in Geneva six months ago which said a provisional body - which might include members of Assad's government as well as the opposition - should lead the country into a new election.

But the mainly Sunni Muslim Syrian rebels have seized the military initiative since the Geneva meeting in June and the political opposition has ruled out any transitional government in which Assad, from Syria's Alawite minority, plays a role.

Rebel fighters resumed attacks on Thursday against the military base of Wadi Deif, which lies next to Syria's main north-south highway linking Aleppo with Damascus. Around the capital itself, Assad's forces have tried for weeks to dislodge rebels from suburbs which ring the east and south of the city.

"Certainly it was clear in Geneva, and it's even clearer now that the change which is needed is not cosmetic or superficial," Brahimi told a news conference in Damascus before leaving Syria.

"I believe the Syrian people need, want and aspire to genuine change and everyone knows what this means," he said.

"A government must be created ... with all the powers of the state," Brahimi added. He said it should hold power for a transitional period until elections - either for a new president or a new parliament - are held.

"This transitional process must not lead to the ... collapse of state institutions. All Syrians, and those who support them, must cooperate to preserve those institutions and strengthen them," he said.

Radwan Ziadeh of the opposition Syrian National Council dismissed Brahimi's proposal as "unrealistic and fanciful" and said a transitional government could not be built on the same "security and intelligence structure as the existing regime".

TOO SOON FOR COMPLETE PLAN

Russia's Lavrov met Syrian Deputy Foreign Minister Faisal Makdad in Moscow on Thursday and underscored "the lack of an alternative to a peaceful resolution of (Syria's) internal conflict through a broad inter-Syria dialogue and political process," a Russian Foreign Ministry statement said. But it made no mention of ways to achieve those goals.

Syrian and Lebanese sources said Makdad had been sent to Moscow to discuss details of a peace plan proposed by Brahimi.

Brahimi is due in Moscow on Saturday and said he also expected to have a third joint meeting with U.S. and Russian officials soon following two rounds of talks earlier this month. But he denied the existence of a U.S.-Russian plan to end the crisis and said it was too soon to present a "complete plan".

"What is preferred is that we don't present such a plan until we feel that all sides have agreed to it. That way, implementing it is easy. If that doesn't happen, the other solution could be to go to the (United Nations) Security Council to issue a binding resolution for everyone," he said.

A Russian Foreign Ministry spokesman also denied any joint initiative between Moscow and Washington.

World powers remain divided over what has become an increasingly sectarian struggle, with Sunni Muslim states such as Turkey and the Gulf Arab countries supporting the rebels while Shi'ite Iran and Hezbollah have backed Assad, whose Alawite community has its roots in Shi'ite Islam.

Syria's struggle "has taken a vicious form of sectarian confrontation," Brahimi said. "Syrian officials foremost, as well as the international community, must not let Syria slide down this very dangerous path which threatens the future of Syria."

Deep differences between Western powers opposed to Assad - led by the United States - and Russia and China which have supported his government, have left the U.N. Security Council paralysed and largely sidelined throughout the conflict.

The political stalemate has helped transform a once-peaceful uprising into a civil war in which rebels have grown in military strength and taken control of swathes of territory in the north, leaving Assad increasingly reliant on air power to curb them.

Activists in the central province of Hama, where rebels launched an offensive last week to extend their control southwards towards the capital, reported on Thursday that rebels shot down a MiG jet near the town of Morek.

The Syrian Observatory for Human Rights, which monitors violence across Syria, said air force jets launched three raids on rebel forces around Wadi Deif. The British-based group also reported fierce clashes in the area.

The violence has been accompanied by an escalation in apparently sectarian attacks between the Sunni Muslim majority and minorities such as Assad's Alawite sect, which has largely supported the president.

Activists in Hama uploaded a video of what appeared to be Assad soldiers and shabbiha militia members stabbing the body of a dead man and setting it on fire. The man looked as if he had been beaten to death.

"This is a terrorist, a brother of a whore, one of those trying to destroy the country," one of the men shouted. Two men in camouflage uniforms and army helmets stood by watching. Samer al-Hamawi, an activist from Hama, said rebels in his area found the video on the phone of a soldier they captured this week.

The video emerged a day after Islamist rebel units released footage showing the bodies of dozens of Assad's fighters along a highway near an Alawite town in Hama.

(Additional reporting by Marwan Makdesi in Damascus and Steve Gutterman in Moscow; Editing by Pravin Char)



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Soprano Bartoli: My voice has more colours, shadow

By Michael Roddy

LONDON (Reuters) - Italian mezzo-soprano Cecilia Bartoli has released a year-end blockbuster that is part mystery story, part research project and shows off a voice which only seems to improve with age.

Bartoli's latest deluxe-packaged album "Mission" (Decca) is devoted to the music of the late 17th-century Italian composer, diplomat and perhaps spy, Agostino Steffani.

Steffani may have been a bit overlooked as a result of his appearance at the end of the Renaissance and at the beginning of the Baroque periods - until Bartoli's interest alighted on him.

"The variety is amazing in the music of Steffani, the slow arias have very beautiful melodic lines, they are unbelievable, it's quite hypnotic music," Bartoli said in a telephone interview from Paris.

Since she burst upon the world in the 1990s, specialising mostly in Mozart and Rossini, Bartoli has gone from strength to strength, not only in digging up unusual repertoires, including another deluxe compilation in 2009 devoted to music sung by castrati, but also vocally.

Here's what else Bartoli had to say about Steffani and his possible career as a spy, why she goes for the anti-diva look on her recent album covers, and what she calls a Fellini-esque experience at La Scala with conductor Daniel Barenboim:

Q: Is it true, then, that the voice improves with time?

A: "I think this is a very good time because of the maturity of the technique. When you are young, of course, you have to have a beautiful voice. This is a gift you receive, but you don't have enough technique or experience. So this is a very good time because I can really paint with my voice with so many colours, like a painter. I love painting with the voice and I'm of an age when I do this definitely better than 20 years ago."

Q: So this bit about Steffani being a spy, surely that was dreamt up by the Decca marketing department?

A: "He had an incredible life as a priest, a missionary and a diplomatic mission to arranging weddings between the royal princes of that period. And also he was a kind of spy, in fact he was a Catholic priest in the north of Germany, in the Protestant area, and he spent lots of years in that area - it was very unusual, very strange. Maybe he also had the mission to convert (people) to Catholicism, who knows? We have lots of speculation about him, all the mysterious things about this man. There's still mystery."

Q: There's no mystery though that the cover for this album, showing you bald-headed and wielding a crucifix, is "non-diva" - like the cover on the "Sacrificium" album of castrati music, with your head superimposed on the torso of a male statue.

A: "The idea was to have a cover related to the project and it was a bit against the cliche of a diva who has to look beautiful all the time. In a project like 'Sacrificium', when at the beginning of the 18th century 3,000-4,000 boys were castrated every year in Italy...how can I make a CD project about this and make a cover with a beautiful, glamorous Vanity Fair picture? This would be more embarrassing...People realise there is a real story here to tell, it's not a compilation of arias which you do for Christmas. And 'Sacrificium' was a huge success."

Q: Your concert recital earlier this month singing Handel, Rossini and Mozart with Daniel Barenboim conducting at La Scala in Milan, with a chorus of boos and whistles in the second half, was perhaps less of a success?

A: "This story is repeating what happened to Carlos Kleiber, one of the greatest conductors of our lives, also to (Maria) Callas, (Luciano) Pavarotti. The concert was magnificent - Handel, Mozart, Rossini - and then I believe at the very end there was a very Fellinian situation. You think these things don't happen anymore, that they only happen in the movies of (Federico) Fellini but actually, no, this is happening. And it seemed like a parody but the next morning I opened the newspaper and (Silvio) Berlusconi is back (in Italian politics). And so I said, 'Yes, of course.'

I think living in Italy is difficult but living without Italy is impossible."

(Editing by Michael Roddy)



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CCI approves proposed merger of DHFL and its two arms

Fair trade regulator CCI has approved the merger of Dewan Housing Finance Corp's two arms -- DHFL Holdings and First Blue Home Finance -- with the parent company.
   
The Competition Commission of India (CCI) has said the combination is "not likely to have an appreciable adverse effect on competition in India". Dewan Housing Finance Corporation (DHFL) and First Blue Home Finance are engaged in business of housing finance while DHFL Holdings Private Ltd (DHPL) is an investment firm.
    
In an order dated December 13, CCI noted that DHPL and First Blue are subsidiaries and "the control over the actitvities carried on by First Blue and DHPL, before the combination, is with DHFL and will continue to remain with DHFL after the proposed combination".
    
"In view of the foregoing, the proposed combination does not give rise to any adverse competition concerns in India," CCI noted. DHFL indirectly holds 67.56 per cent in First Blue through its wholly-owned subsidiary DHPL.
    
Meanwhile, CCI has decided to initiate a "separate proceeding regarding imposition of penalty" under Competition Act since the three companies submitted notice seeking approval much late after their respective boards approved the deal.
    
The Board of Directors of each of the parties to combination cleared the combination scheme on September 28, 2011 but the notice for approval was submitted only on November 19, 2012.

23.06 | 0 komentar | Read More

Sparkling wines, easier on the budget than Champagne

By Leslie Gevirtz

NEW YORK (Reuters) - Krug Champagne, which sold at auction for nearly $5,000 a bottle earlier this month, may be a bit too pricey for many holiday budgets, but wine experts say there are more affordable alternatives on offer.

Sparkling wines, from France, Spain, Germany and the United States, are a good substitute for Champagne and won't break the budget.

"Prosecco is definitely an alternative, but it must be the real thing," said Ed McCarthy, author of "Champagne for Dummies."

McCarthy suggested buying Prosecco made in the original Italian region of Valdobbiadene-Conegliano, about a 90-minute drive northwest of Venice, where the grape is grown. A bottle from the area sells for $10-$20.

Most non-vintage Champagnes cost about $40 a bottle or more in shops in New York and London. The prestige "tete de cuvee" Champagnes, range from $120 to $300 or more a bottle, depending on the producer and vintage.

Krug's top of the line Clos du Mesnil Champagne, made from the Chardonnay grapes of a single vineyard, is priced at $850 to $900 a bottle, even at the Chateau's cellar door, according to McCarthy. Sotheby's sold a case of 12 bottles of the 1990 vintage for $58,188 on December 1.

For wines from France's Loire region, he suggested bottles from Gratien & Meyer, who have been producing sparkling wines for more than a century. Their Brut Saumur Anjou averages about $17 a bottle.

He also praised Bouvet-Ladubay, another Loire producer, whose wines average about $13 a bottle.

Spanish Cavas are another alternative to sparkling wine.

"They are also in the same price range as Prosecco and maybe even $2 or $3 less," McCarthy said, adding that Codorniu or Juve y Camps would be good choices.

California sparkling wines, made by some of France's top Champagne houses, can also be a good substitute for Champagne.

"My favorite is Roederer Estate," said McCarthy. "It's totally reliable." It sells for $18-$22 a bottle in the United States and at about $30 in the Britain and Germany.

British wine critic and author Stuart Pigott casts his vote for Sekt, the German sparkling wine. His favorite is Van Volxem 1900 Riesling Brut Sekt, made in Mosel.

"It is a rich and complex sparkling wine that is less creamy and less acidic than Champagne," he said about the wine that is available in Germany, the Netherlands and Switzerland for about $34 a bottle.

But a man who buys millions of dollars of sparkling wine each year thinks most people really would prefer something sweeter to drink.

Guido Battipaglia, the sparkling wine buyer for New York's Gotham Wines & Liquors, said that instead of Champagnes most people would prefer Cantine Riondo Pink Prosecco, which costs less than $10 a bottle in the United States and Germany.

"There's a lot of fruit in it," said Battipaglia, who also likes the French rose from Marquis de la Tour, which can be found for less than $10.

If Champagne is a must, McCarthy recommended Nicolas Feuillatte, which costs about $25 a bottle. For slightly more money, $40 a bottle, Charles Heidsieck would be his choice.

"The price is not high for the quality," he said.

(Editing by Patricia Reaney and Doina Chiacu)



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Wall St flat as "fiscal cliff" talks eyed

NEW YORK (Reuters) - U.S. stocks were flat at the open on Thursday as U.S. President Barack Obama returned to Washington to restart negotiations in an attempt to find a last minute deal to avoid a series of tax hikes and spending cuts due to take place next week.

The Dow Jones industrial average <.DJI> dropped 1.30 points, or 0.01 percent, to 13,113.29. The Standard & Poor's 500 Index <.SPX> dropped 0.54 points, or 0.04 percent, to 1,419.29. The Nasdaq Composite Index <.IXIC> dropped 2.35 points, or 0.08 percent, to 2,987.81.

(Reporting By Edward Krudy; Editing by Kenneth Barry)



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12th Plan growth rate pegged down, Jaya walks off NDC meet

Reflecting the economic downturn, the growth target for the 12th Plan was today scaled down at a meeting of the NDC which was marred by an angry walkout by Tamil Nadu J Jayalalithaa, while Prime Minister Manmohan Singh favoured a phased hike in energy prices to rein subsidy bill.
 
The day-long meeting of the Chief Ministers, which approved the 12th Plan Five Year Plan Document aimed at 8 per cent average annual growth, from 8.2 per cent in the draft, saw the Prime Minister issue a warning that failure to control subsidies would lead to cut in plan expenditure. Singh also favoured a phased hike in the prices of petroleum products, coal and power as they are under priced.

Finance Minister P Chidambaram added his bit saying that it was imperative to contain the fiscal deficit. Some measures may cause immediate pain but they were necessary to bring down the deficit to 3 per cent of the GDP in the next three years, he said.

There was high drama early in the meeting when Jayalalithaa staged a walkout protesting against the "big humiliation" when a bell was rung signalling her to conclude her speech after ten minutes of her taking the floor. Later she cut short her stay and returned to Chennai saying that putting a time limit on the speech was a conspiracy stifle the voice of Chief Ministers.  Fresh from his electoral victory, Gujarat Chief Minister Narendra Modi and his Madhya Pradesh counterpart Shivraj Singh Chauhan backed Jayalalithaa on the issue.

Modi launched his own attack on the centre saying the country was in the grip of pessimism because of "policy paralysis, intellectual bankruptcy and lack of leadership" at the Centre.



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Fired-up United must press on: Hernandez

By Tom Pilcher

LONDON (Reuters) - Manchester United's knack of scoring late goals was evident again with a thrilling Boxing Day victory over Newcastle and matchwinner Javier Hernandez warned there would be no let-up in their quest to regain the Premier League title.

United came from behind three times before the Mexican struck in the last minute to secure a 4-3 Old Trafford victory, moving Alex Ferguson's side seven points clear of rivals Manchester City who lost at Sunderland.

Manager Alex Ferguson labelled it a "championship winning performance" at the midway point of the season but Hernandez cautioned against complacency.

United led City by five points with four matches remaining last season but were pipped to the title by Roberto Mancini's side on a thrilling final day.

"It's a great position but we're not going to think we have already done the job," Hernandez told the club's website (www.manutd.com).

"This gap is going to give us a lot of confidence, but we want to just try to do the same in every game: win and get three points."

United host high-flying West Bromwich Albion at Old Trafford on Saturday (1500 GMT) but will be without key striker Wayne Rooney who has been ruled out of action for two or three weeks with a knee injury.

City travel to Norwich City (1500 GMT) looking to get back on track following a 1-0 defeat at Sunderland.

"We need to change something in our team because we can't continue like this - we score too few goals," said Mancini, who remains unfazed about the gap to United.

TEAM OF WINNERS

"Seven, six or four points, it doesn't matter the season is long. United concede a lot of goals but they score a lot so they have a chance but we can recover points."

Goalkeeper Joe Hart said City had the firepower required to make up the deficit.

"We've had leads, United have had the lead - it's to-ing and fro-ing at the moment," Hart told the club's website (www.mcfc.co.uk).

"We're a team of winners, it's hard and it hurts but we've got to move on. It is hard to lead and it is hard to chase too. We've clawed points back before, we proved it at the end of last year - we've just got to believe."

Lurking behind City are European champions Chelsea, who have a game in hand and play away at in-form Everton on Sunday (1330).

Chelsea have hit form under interim manager Rafael Benitez after following up their 8-0 demolition of Aston Villa by winning 1-0 at Norwich on Wednesday.

Tottenham Hotspur could move three points ahead of Everton and West Brom in the race for fourth when they travel to Sunderland on Saturday (1245).

Arsenal, currently seventh but also with a game in hand after their Boxing Day fixture against West Ham United was postponed on December 19, take on Newcastle later on Saturday (1730).

Bottom club Queens Park Rangers host Liverpool on Sunday (1600) while Reading, also on 10 points but with a superior goal difference, welcome West Ham on Saturday (1500).

(Editing by Justin Palmer)



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Drogba to lead experienced Ivory Coast at Nations Cup

ABIDJAN (Reuters) - Didier Drogba will lead a vastly experienced Ivory Coast squad in the African Nations Cup finals starting next month which includes a recall for Wigan Athletic striker Arouna Kone.

Drogba, Emmanuel Eboue, Didier Zokora, Boubacar Barry, Arthur Boka, Siaka Tiene and the Toure brothers, Kolo and Yaya, head to a fifth successive tournament.

The widely travelled Kone, who competed at the Nations Cup finals in 2006 and 2008, is back along with Spanish-based midfielder Romaric, who has also missed out in recent years.

Coach Sabri Lamouchi named a squad on Thursday with just six changes from the last edition, where the Ivorians did not concede a single goal but finished runners-up.

Third choice goalkeeper Badra Ali Sangare is the only uncapped player in the squad.

The Ivorians are only the second of the 16 finalists to announce their final 23-man squad for the tournament in South Africa, which starts on January 19. All squads must be finalised 10 days before the opening match.

They are to hold a 10-day training camp in Abu Dhabi from January 6-16 and play a friendly against Egypt there on January 14 before heading to South Africa, where they are top seeds in Group D alongside Algeria, Togo and Tunisia.

Squad:

Goalkeepers: Boubacar Barry (Lokeren), Badra Ali Sangare (IAFC), Daniel Yeboah (Dijon).

Defenders: Soulemanye Bamba (Trabzonspor), Arthur Boka (VfB Stuttgart), Emmanuel Eboue (Galatasaray), Igor Lolo (Kuban Krasnodar), Siaka Tiene (Paris St Germain), Kolo Toure (Manchester City), Ismael Traore (Stade Brest)

Midfielders: Max Gradel (St Etienne), Abdul Razak (Manchester City), Romaric (Real Zaragoza), Didier Ya Konan (Hannover 96), Ismael Tiote (Newcastle United), Yaya Toure (Manchester City), Didier Zokora (Trabzonspor).

Forwards: Wilfried Bony (Vitesse Arnhem), Didier Drogba (Shanghai Shenhua), Gervinho (Arsenal), Salomon Kalou (OSC Lille), Arouna Kone (Wigan Athletic), Lacina Traore (Anzhi Makhachkala). (Reporting by Mark Gleeson in Southbroom; Editing by John Mehaffey)



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Syrian rebels fight for strategic town in Hama province

Written By Unknown on Kamis, 20 Desember 2012 | 23.06

By Erika Solomon

BEIRUT (Reuters) - Rebels thrust into a strategic town in Syria's central Hama province on Thursday, activists said, pursuing a string of territorial gains to help cut army supply lines and cement a foothold in the capital Damascus to the south.

They have made a series of advances across the country, seizing several military installations and more heavy weaponry, hardening the threat to President Bashar al-Assad's power base in Damascus 21 months into an uprising against his rule.

Rebels said a day earlier they had captured at least six towns in Hama province. On Thursday heavy fighting erupted in Morek, a town on the highway that runs from Damascus north to Aleppo, Syria's largest city and another battleground.

The opposition-linked Syrian Observatory for Human Rights said rebels were trying to take checkpoints in Morek, one of which they had already seized, and described the town as a critical position for the Syrian army.

"The town of Morek lies on the Damascus-Aleppo road ... it has eight checkpoints and two security and military headquarters. If the rebels were able to control the town they would completely sever the supply lines between Hama and Damascus to Idlib province," the group said in an email.

Idlib is in the rebel-dominated north bordering on Turkey.

The British-based Observatory has a network of activists across the country. Activist reports are difficult to verify, as the government restricts media access into Syria.

Fighting in Hama could aggravate Syria's sectarian strife as it is home to many rural minority communities of Alawites and Christians. Minorities, and particularly the Alawite sect to which Assad himself belongs, have largely backed the president. Syria's Sunni Muslim majority has been the engine of the revolt.

"Rebels are trying to take Mohardeh and al-Suqaylabiya, which are strongholds of the regime and are strategic. The residents are Christian and the neighbouring towns are Alawite. The rebels worry security forces may be arming people there," said activist Safi al-Hamawi, speaking on Skype.

He said the opposition feared skirmishes that had previously been largely Sunni-Alawite could spread into a broader sectarian conflict.

"I think it is still unlikely, because the residents have tried to maintain neutrality, but if the battle became a sectarian clash, it could be a catastrophe. Christians and Muslims could suddenly find themselves enemies."

U.N. human rights investigators said on Thursday that Syria's conflict was becoming more "overtly sectarian", with more civilians seeking to arm themselves and foreign fighters - mostly Sunnis - flocking in from 29 countries.

"They come from all over, Europe and America, and especially the neighbouring countries," said Karen Abuzayd, one of U.N. investigators, told a news conference in Brussels.

The deepened sectarian divisions may diminish prospects for post-conflict reconciliation even if Assad is ousted, and the influx of foreigners raises the risk of fighting spilling into neighbouring countries riven by similar communal fault lines.

President Vladimir Putin of Russia, Assad's main ally and arms supplier, warned that any solution to the conflict must ensure government and rebel forces do not merely swap roles and fight on forever. It appeared to be his first direct comment on the possibility of a post-Assad Syria.

The West and some Arab states accuse Russia of shielding Assad after Moscow blocked three U.N. Security Council resolutions intended to increase pressure on Damascus to end the violence, which has killed more than 40,000 people. Putin said the Syrian people would ultimately decide their own fate.

FIGHTS FOR DAMASCUS CAMP

Assad's forces have been hitting back at rebel advances with bouts of heavy shelling, particularly along the eastern ring of suburbs outside Damascus, where rebels are dominant.

A Syrian security source said the army was planning heavy offensives in northern and central Syria to stem rebel advances, but there was no clear sign of such operations yet.

Rebels seized the Palestinian refugee district of Yarmouk earlier this week, which put them within 3 km (2 miles) of downtown Damascus. Heavy shelling and fighting forced thousands of Palestinian and Syrian residents to flee the Yarmouk area.

But rebels said on Thursday they were negotiating to put the camp - actually a densely packed urban district - back into the hands of pro-opposition Palestinian fighters. There are some 500,000 Palestinian refugees and their descendants living in Syria, and they have been divided by the uprising.

Palestinian factions, some backed by the government and others by the rebels, had begun fighting last week, a development that allowed Syrian insurgents to take the camp.

Despite warnings of continued violence, a video released by activists on Thursday showed dozens of people returning to Yarmouk. Most of the people in the footage were men, suggesting entire families may not be venturing back yet.

"There are still negotiations going on between the Palestinians and the rebels. The rebels want control of the checkpoints to be sure they can keep supply routes open to central Damascus," said a rebel who asked not to be named.

"Palestinians want their fighters to run the checkpoints so the army will stop attacking and people can go home. But we are worried there are government collaborators among them."

The fighter said rebels were looking to ensure their Palestinian allies could keep open access for rebels in Yarmouk, which they have described as a gateway to central Damascus.

LEBANON BORDER POST TAKEN

Elsewhere, Syrian insurgents took over an isolated border post on the western frontier with Lebanon earlier this week, local residents told Reuters on Thursday.

They said around 20 rebels from the Qadissiyah Brigade overran the post at Rankus, which is linked by road to the remote Lebanese village of Tufail.

Video footage downloaded on the Internet on Thursday, dated December 16, showed a handful of fighters dressed in khaki fatigues and wielding rifles as they kicked down a stone barricade around a small, single-storey army checkpoint.

"This is the end of you, Bashar you dog," one of the fighters said. The remains of two army trucks, which the rebels said had been blown up, stood nearby on a single track dirt road crossing a flat brown plain between snow-capped mountains.

The rebels already hold much of the terrain along Syria's northern and eastern borders with Turkey and Iraq respectively.

Syrian Interior Minister Ibrahim al-Shaar arrived in Lebanon on Wednesday for treatment of wounds sustained in a bomb attack on his ministry in Damascus a week ago.

Lebanese medical sources said Shaar had shrapnel wounds in his shoulder, stomach and legs but they were not critical.

The Syrian opposition has tried to peel off defectors not only from the army but from the government as well, though only a handful of high-ranking officials have abandoned Assad.

But the conflict has divided many Syrian families. Security forces arrested on Thursday an opposition activist who is also the relative of Vice President Farouq al-Sharaa, the Syrian Observatory said. The man was arrested along with five other activists who are considered pacifists, it said.

Sharaa, a Sunni Muslim who has few powers in Assad's Alawite-dominated power structure, said earlier this week that neither side could win the war in Syria. He called for the formation of a national unity government to solve a crisis that has killed more than 40,000 Syrians.

(Reporting by Erika Solomon; Editing by Mark Heinrich)



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MODI-RALLY 4

In a veiled attack on Congress, which had announced a In a veiled attack on Congress, which had announced a number of sops including housing for poor in the run-up to polls, Modi said people have understood the benefits of development in the state. "Gujarat elections have proved that process of democracy has matured here and people have voted by rising above all kind of greeds with a thinking that they will benefit if Gujarat develops," he said. Attacking the Centre for its schemes, he said "they will keep splurging money but it is the sweat (hardwork) that will emerge victorious." He specially thanked the government employees for their hard work which brought success to the state. "I specially thank all five lakh government employees. I know you have to work even on holidays. Earlier you used to go home by five PM but now you don't go back till 10 PM. By voting for me, you have proved that you are ready to work for the people," he said. It was being said that government employees are angry and unhappy under the Modi rule, he said, adding, "Today when the postal ballots were opened, everyone was surprised. 70-75 per cent votes of the government employees went with the BJP." Highlighting his ability to take tough decisions for long term benefits, Modi said, "We never took a decision for immediate benefits that is why we were able to take tough decision in the 11-year rule." It is said that good governance is bad politics, that is why development is never talked about. But people take a decision rising above all this and people of Gujarat have taken this decision, he said. Praising the voters for making the "right choice", he said "if there is any hero today, it is the six crore Gujaratis". Gujarat voters have risen over regionalism, casteism. They deserve the accolades and if you want to learn something, you should learn from them, he said. PTI SNK AD ADS AMR RT

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Police havaldar shoots himself

Thu, Dec 20, 2012 at 21:06

Police havaldar shoots himself

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Police havaldar shoots himself

Police havaldar shoots himself

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Police havaldar shoots himself

Police havaldar shoots himself

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Buxar (Bihar), Dec 20 (PTI) A police havaldar allegedly committed suicide by shooting himself in the head from his service rifle in Buxar district today. Sudhir Kumar did not deposit the rifle and went to the roof Adarsh police station and shot himself in the head, police said. The havaldar was reportedly depressed. His phone details were being studied, the police added. PTI CORR SNS KK KK

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'Govt may apply stick on cos that do not spend on CSR'

The new Ficci Chief Naina Lal Kidwai has suggested that the government could "apply stick" on companies which do not allocate funds for CSR activities but such spendings need not be made mandatory.

"The trouble is that the minute you make some thing mandatory people begin to find ways around, you encourage people to find the right answer and you shame them into well if so many companies are doing it why aren't you and then if they still aren't doing it, then you have to apply stick," she said in an interview to PTI.

She, however, asserted that spending on CSR should not be made mandatory by law but guideline approach is best thing to begin with. Reposing faith in India Inc's sensitivity towards CSR, Kidwai said, "Lets not assume the companies will not do it you may be surprised how many companies are already doing if it can be seen as a good for the company."

The first woman president of the the industry chamber also cited the examples of Tatas and Birlas who have made their mark in the areas of CSR over the years. "What they have done in the space of the CSR over the years is a demonstration of India as it was growing up and through that phase how it engage with community. So we need to bring some of that back," she added.

"I have a faith in the fact that corporates at the end of the day will rise to this in a manner which works and we don't get another series of rules which in turn begin to create there own sets of problem."

It is going to the a challenge going forward because it is a whole new era for India, she added. As per the Clause 470 of the Companies Bill passed earlier this week by the Lok Sabha spending 2 percent of net profit on CSR (Corporate Social Responsibility) is compulsory for companies that meet certain criteria.

Firms having Rs 5 crore or more profits in the last three years have to spend on CSR activities. One of the major proposals is that companies have to mandatorily spend 2 percent of their average net profit for CSR activities. If companies are unable to meet the CSR norms, they will have to give explanations, the Bill said.

In case, the companies are not able to do the same, they have to disclose reasons in their books. Otherwise, they would face action, including penalty, it added.



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Russia hopes for nuclear talks with Iran next month

MOSCOW (Reuters) - Russia hopes the next round of six-power talks with Iran to resolve a protracted dispute over its atomic programme will take place in January, RIA news agency reported on Thursday.

The agency quoted a foreign ministry spokesman as saying the world powers - the United States, Russia, France, Britain, Germany and China - were still negotiating with the Islamic Republic on a possible date and venue for the talks.

Iran is refining uranium to a fissile concentration of 20 percent, which Western experts say is a relatively short technical step from the level that would be required for bombs.

Iran says it needs higher-grade uranium to run its medical research reactor in Tehran.

"Currently negotiations are under way with Tehran on the place and date," the foreign ministry spokesman told RIA.

"We hope that this work will be completed in the near future and such a meeting will take place in January of next year."

The last round of big power talks with Iran in Moscow in June ended with no sign of a breakthrough on tensions surrounding Tehran's nuclear ambitions.

The six powers want to rein in Tehran's uranium enrichment programme, to ensure it is geared only for civilian energy, through a mix of diplomacy and sanctions. Iran denies Western assertions that it is seeking a nuclear weapons capability.

(Reporting by Alissa de Carbonnel; Editing by Alistair Lyon)



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Tata Comm to focus on cost reduction across the portfolio

Tata Communications will focus on cost reduction and cost rebalancing across theportfolio due to uncertain global economic outlook, according to a top official of the company.
    
"... given the uncertainties in the near term global economic outlook, we will focus on cost reduction and cost rebalancing across the portfolio," Tata Communications Managing Director and group Chief Executive Vinod Kumar said in an interview to Tata group website.
   
 He said the company is "at an inflection point" in its journey, moving into the area of offering solutions and transformational capabilities to its customers. "This will require us to rewire our thinking on how to approach the market, to double down in some technology and product areas," Kumar said. Tata Communications has recently cut down 300 jobs across global operations as part of its review to align business with current business need.
    
On a query about challenges the company faces due to a changing telecom landscape, Kumar said having a business portfolio has its benefits, but it is a challenging task to create that portfolio and ensure that all parts of the portfolio get adequate attention. "With associated issues such as surplus land and government equities, our hands are tied to some extent on how we can financially structure the company for optimal results. That is a challenge and, hopefully, it will get resolved in the coming quarter," he added.
    
Asked about the growth strategy for the company's three businesses: voice, data and mobility services, and enterprise solutions, Kumar said voice will continue to be a high-volume business for the company while there is huge opportunity for growth in providing data services.
    
"The fastest growth will be in the enterprise business. This will occur through a combination of offering services to enterprises to transform their businesses using the power of networks and IT, and building industry-specific applications in areas such as banking, media, entertainment and healthcare," he said.
    
On its investments in South Africa (Neotel) and Sri Lanka (Tata Communications Lanka), Kumar said the company's strategy is to create secondary or shadow home markets in emerging markets to serve as anchors for its global and cross-border connectivity business. "In 2011-12 it (Neotel) posted a 25 per cent year-on-year growth in revenues and turned profitable at the operating level," he added.

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Passenger car output declines in April-Nov 2012: Patel

The government today said the production of passenger cars marginally declined by1 per cent year-on-year to 15.9 lakh in April-November 2012 due to factors including slow economic growth and high interest rates. "Due to the increase in fuel price, low GDP growth rate, exorbitant material cost, high interest rates and slow economic growth, the production growth (of passenger cars) has reduced to a marginal 1 per cent during April-November 2012-13 against its corresponding period in the last fiscal," Minister of Heavy Industries and Public Enterprises Praful Patel said.

Out of the 16 car manufacturers, nine companies have reported decreased production, three more companies have reported only marginal growth (less than 4 per cent) and only four companies "have been doing well", he said in a written reply to Lok Sabha.

Among the companies which registered a production decline in the first eight months of the current fiscal, Fiat India Automobiles witnessed a 47 per cent drop in output, followed by Mercedes Benz India 26.8 per cent, General Motors India 23.7 per cent and Volkswagen India 23.2 per cent, Patel said referring to Society of Indian Automobile Manufacturers (SIAM) data.

However, he said, companies which performed well in terms of cars production during the period under review include Renault India which registered a year-on-year growth of 616 per cent, Honda Cars India 83 per cent and Toyota Kirloskar Motor 19.8 per cent and Nissan Motor India 13 per cent. According to the SIAM, he said, passenger car production in India was growing at a rate of over 17 per cent during the last 10 years.

Further, the minister said, to boost the production of cars, various steps have been taken in pursuance of Automotive Mission Plan (2006-16) and the new Foreign Trade Policy provides additional incentives.



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Vilanova surgery goes according to plan, Barca say

BARCELONA, Spain (Reuters) - Surgery on Barcelona coach Tito Vilanova's saliva glands went to plan on Thursday, the La Liga club said, as assistant Jordi Roura oversaw his first training session since taking charge on a temporary basis.

Barca announced on Wednesday that Villanova needed a second round of surgery following an operation to remove a tumour in November 2011.

The latest procedure would be followed by chemotherapy and radiotherapy over the next six weeks and Roura would step in until Vilanova was well enough to return, the club said.

In a brief statement on their website (www.fcbarcelona.com) on Thursday, Barca said Vilanova's progress would determine how long he remained in hospital but it was likely to be the three or four days originally expected.

The 44-year-old was sidelined for around three weeks after the surgery last year before returning to his job as assistant to Pep Guardiola and then taking over from his close friend at the end of last season.

Under his leadership, Barca have made a record-breaking start to their La Liga campaign and top the standings with a nine-point lead over second-placed Atletico Madrid.

They have dropped only two points in 16 matches - in a 2-2 draw at home to champions Real Madrid - and are 13 points ahead of their arch-rivals in third.

Barca are also through to the last 16 of the Champions League and were drawn on Thursday to play AC Milan when the competition resumes in February.

Club captain Carles Puyol said Vilanova had been able to reassure the players at a meeting on Wednesday and predicted there would be continuity under Roura, a graduate of the club's youth academy who was one of Guardiola's technical team.

"He (Roura) has been working with us for many years," Puyol told a news conference after Thursday's training.

"He is someone who is very active in the training sessions and our way of playing and tactics will not change," the Spain defender added.

"We are in good hands. It is the best decision to have put him in charge at this time."

All the players could do was keep playing the same way, train hard and wait for Vilanova to return, he said.

"He is our leader and right now we have to continue down the path he has set out."

(Writing by Iain Rogers in Madrid, editing by Clare Fallon)



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Berlusconi warns Monti not to stand in Italy election

By Barry Moody

ROME (Reuters) - Silvio Berlusconi joined forces with his leftwing opponents on Thursday to warn Mario Monti against standing in the coming election, as uncertainty over the outgoing premier's plans stoked political tension in Italy.

Berlusconi told a radio phone-in programme it would be "morally questionable" for Monti to run, emphasising the risks of him being caught in right-left crossfire if he throws his hat in the ring and loses his status of being above the fray.

Monti, who has governed as a non-partisan technocrat since last year, is expected to announce his plans after the 2013 budget is approved and parliament is dissolved, but has refused to say anything before then, fuelling fevered speculation over what role he will play in the election.

On Thursday, he made what sounded like a pre-campaign speech, telling Fiat car workers in southern Italy that it would be irresponsible for Italians to throw away the sacrifices they have made during a year of debt cutting austerity under his government.

Berlusconi, bidding for his fifth term as prime minister, has repeatedly attacked Monti's policies and promised again on Thursday to abolish a hated housing tax he imposed.

Some reports say Monti will announce his candidacy at the weekend but political sources told Reuters that he was preparing to endorse one big centrist group or several smaller ones which would sign up to policies continuing the fiscal discipline he has imposed over the last year to calm a financial crisis.

Such groups, ranging from the existing UDC party of Pier Ferdinando Casini to a new civic movement founded by Ferrari boss Luca Cordero di Montezemolo, are campaigning for Monti as next prime minister, effectively making him a candidate if he endorses them.

Entering the campaign could pose many risks for Monti, including reducing the chances that he would become Italy's president if he does not succeed in winning the premiership after an election now almost certain to be held on February 24.

Pollsters say the centrist groupings associated with Monti would increase their vote from below 10 percent to up to 15 percent if he takes the field, but that might not be enough to guarantee a major post-election role for the former European commissioner.

The centre-left Democratic Party is likely to win up to 35 percent of the vote according to pollsters and is currently considered certain to win the election.

But it may need to form an alliance with the centre to ensure control of the upper house and calm market fears that it would follow leftwing policies despite its stated commitment to fiscal discipline.

BERLUSCONI AGAINST MONTI CANDIDACY

Berlusconi expressed agreement with senior centre-left politician Massimo D'Alema who said a week ago it would be illogical and questionable for Monti to stand against a party that had supported his reforms for the last year.

Other critics suggest it would be just as questionable for Monti to campaign at the same time as he remains as caretaker prime minister after his resignation.

Berlusconi said on the radio programme: "I would be surprised if Monti participated directly in the election."

The billionaire media magnate said it would not be in Monti's interests to head up weak centrist groups.

Both the centre-left and Berlusconi's centre-right fear he will suck votes away from them, and are therefore likely to attack him personally during what promises to be a no-holds-barred campaign.

Monti restored respect for Italy and brought its dangerously ballooning borrowing rates under control after taking over from the scandal-plagued Berlusconi in November 201l.

But while foreign investors, business leaders and European partners are desperate for Monti to return, his painful austerity policies of tax hikes and spending cuts have made him unpopular for many voters.

A poll this week by the SWG institute showed 61 percent of Italians opposed him standing for election.

Formerly immune from the wide contempt for corruption-tarnished politicians, Monti has recently become a political football.

Berlusconi, whose party is polling around 16.5 percent -- less than half than when it won the last election in 2008 -- says he will stand down if Monti agrees to lead the centre-right, something considered virtually impossible.

Meanwhile Berlusconi, for two decades Italy's most skilful political operator, has used all his huge media power to push himself to centre stage since he declared he would stand in the election two weeks ago, appearing almost daily.

Although he has lost some of his unrivalled powers of communication, Berlusconi's return to the field has pushed his party's ratings up by three percent as he promises to abolish the housing tax and accuses Monti of being Germany's puppet.

In Thursday's radio show he said the centrists with or without Monti would only increase the victory of the centre-left in the election and split the "moderate" vote.

Berlusconi, awaiting a verdict early next year in a trial in which he is accused of paying an underage prostitute, has little or no chance of winning the election but is trying to gain enough votes in the upper house to sabotage a centre-left government after the election.

To this end he is working simultaneously to rebuild his alliance with the separatist Northern League and to stop moderates in his own party breaking away to join the pro-Monti centre.

He is helped by the current electoral law which grants party leaders total control over who can stand for parliament, giving him huge powers of patronage. (Editing by Mike Peacock)



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Wenger lacks support from Arsenal board, Usmanov says

LONDON (Reuters) - Arsenal manager Arsene Wenger has not had enough support from the Premier League club's board, shareholder Alisher Usmanov said on Thursday.

The Uzbek billionaire, who has a stake of just under 30 percent but is not on the board, questioned the effectiveness of the London club's commercial strategy in a television interview with CNBC.

"If I have a big stake in Arsenal of course I have my opinion of what we must do," Usmanov said. "For example, on the commercial side, I think there are also many questions about the effectiveness of the commercial management of Arsenal...

"Mr Wenger is one of the best coaches in the world. During the last five years he hasn't had enough support to provide his conceptions of his game from the board."

Arsenal have endured a difficult start to the season and sit fifth in the Premier League, 15 points behind leaders Manchester United. They suffered a humiliating exit from the League Cup at the hands of fourth-tier Bradford City last week.

Wenger has come in for stinging criticism for his role in the club's difficulties with fans questioning a transfer policy that has allowed a raft of top players to leave in the name of financial prudence.

One of the principal criticisms laid at Wenger's feet by fans is that he has failed to hold on to big-name players such as Robin van Persie, who quit the club for Manchester United in the close season, and Cesc Fabregas who left for Barcelona 12 months before.

Usmanov refused to blame Wenger, preferring to direct his criticism at the board.

"I always tell Mr Wenger he is one of the best coaches and football managers in the world but I openly admit he has many, many difficulties to contend with," he said.

"This decision (selling Van Persie) was a mistake. If I was one of Wenger's players I would want to stay for the finish, but he explained (that) Robin wanted to go to win trophies."

Despite being Arsenal's second largest shareholder, Usmanov has not been given a seat on the board.

"I have to say that it is very hard to understand and it rankles me that the current board doesn't want a person who is a 30 percent investor to be on that board. We just don't understand that strategy," he said.

"I have to tell you I don't want to be a member of the board as it is now. It is strange; it's a very strange situation that they do not want the biggest investor on the board. But as I said I am not asking for it.

"So I want to take this opportunity to reaffirm (that) to help the team we would be ready to buy more shares, buy control, buy all shares. That is to say we are ready to do all that we can to help the company in order to consider any form of co-operation or ownership with the team."

Wenger said he had never felt a lack of support from the board.

"I believe I have always had the support from the board, and am very grateful for that," he told reporters ahead of Saturday's match against Wigan Athletic.

Wenger said the club had always worked within its financial resources, adding: "Therefore we made decisions which from outside looked not based on purely footballing reasons, but (were) based as well on financial reasons."

(Reporting by Toby Davis; Editing by Clare Fallon)



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A year under Monti: from hope to doubt

Written By Unknown on Kamis, 13 Desember 2012 | 23.06

By Lisa Jucca

MILAN (Reuters) - When Mario Monti took the helm a year ago, with Italy teetering on the edge of a Greek-style debt crisis, he was welcomed as a saviour who could finally put the country back on track.

Disgusted with the scandals, corruption and cronyism that had flourished under Silvio Berlusconi, workers and businessmen at first meekly accepted the technocrat premier's higher taxes and harsh pension reform, confident he would guide them out of the euro zone debt storm into calmer waters.

A year later, after Monti announced his resignation , many are wondering whether it was worth the pain as Italy faces an uncertain political future still mired in recession.

"We were awaiting a miracle. And the miracle did not come," said Mina Giannandrea, a Rome shopkeeper.

Italians are enduring higher income taxes, a hugely unpopular property levy and increased electricity and gas bills with no sign yet of any reward for the sacrifice.

Many have learned to scrimp and save - at least by the comfortable standards of more prosperous times - for example refusing to call the plumber for a leaking tap and cutting spending even on staples such as pasta. Many families now reheat leftovers from meals instead of dumping them in the bin.

Rome hairdresser Sara Greco said she sees fewer customers when it is time to pay the property tax instalments and women are cutting back on having their hair done. "I have noticed some clients are giving up having their hair fixed every week and trying to get a cut or tint done on Tuesday or Wednesday when we give a 15 percent discount," she said.

DISHEARTENED

Entrepreneurs who had been disappointed by Berlusconi's unfulfilled promises of more jobs and more economic growth when he was prime minister, welcomed Monti's pledge to make it easier to hire and fire staff and to cut red tape.

A recent World Bank report on doing business in Italy said the regulatory environment for companies was improving, but some in business have yet to feel the benefits of Monti's year in charge.

"There was too much tax and not enough spending cuts," said Franco Manfredini, an entrepreneur in the Emilia Romagna region's ceramics industry, who has survived the crisis thanks his company's large export business.

"The debt issue is still there and we are not yet seeing the light at the end of the tunnel," he told Reuters.

Particularly disheartening to many business people is the government's failure to eradicate inflated privileges enjoyed by politicians and local officials and slash Italy's costly and inefficient public administration.

"Near to nothing was done to cut the cost of the political machine. And this is something that would have received widespread backing," said Angelo Fracassi, founder of Italian group Dasit, a supplier medical equipment to Italy's public health service.

"This is my personal, very bitter disappointment," said Fracassi, who spent the year fighting late payments by cash-strapped local authorities and cuts in public health spending.

Jose Rallo , head of the Sicilian wine company Donnafugata, told a similar story of frustrated hopes. "We took all the bad while waiting for the good which never came," she said.

IMAGE IMPROVED

But some believe Italy has been fundamentally changed under Monti even though it faces another year of economic contraction.

His sobriety and quiet determination contrast to Berlusconi's flamboyance, sexual and judicial scandals and indecision, which helped to push Italy's borrowing costs to unaffordable levels before he was replaced by Monti.

More than anything, ordinary Italians value the ability of the multi-lingual Monti, a former EU commissioner respected by European leaders, to clean up Italy's name abroad.

"One needs to understand where we stood a year ago," said Francesco Divella, a 40-year-old member of a pasta-making dynasty in the southern region of Puglia.

"In a single year, Monti has been able to completely turn around how Italy was being perceived abroad," said Divella, adding that Monti did as much as he could during his short term.

Divella said his company was resisting pressure to move abroad despite the unfavourable business environment at home.

Economic crisis has made Italians realise that they have long lived beyond their means. "Sooner or later we had to come to terms with the need to be more competitive," said Divella.

Learning to live with less after years of rising consumer spending has also forced many Italians to return to the thrifty habits of their parents and grandparents, and some of them believe this has had benefits.

"I don't know if this year of crisis has only brought bad things," said Antonello Piccolo, a 39-year-old worker at the troubled ILVA steel-maker in the southern city of Taranto.

The ILVA site, Europe's biggest steel plant and main employer in impoverished Puglia, risks permanent closure after magistrates accused it of causing an environmental disaster.

"We go less to the pizzerias, but spend more time with family and friends. We have left a bit of consumerism behind and gone back to some old values," said Piccolo.

Yet, shopkeeper Giannandrea, who now meets only a handful instead of dozens of housewives in her early morning trip to the local market, fears it may be too late to turn the tide. "After 40 years in the business, I am really worried: what will we leave to our children?"

(Additional reporting by Giselda Vagnoni in Rome; editing by Barry Moody and David Stamp)



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Telecom reserve price still high, see weak auction: Experts

The Cabinet has approved a 30 percent cut in the reserve price for sale of mobile phone spectrum in four zones that went unsold in the recent damp-squib auction. Airwaves in Delhi, Mumbai, Karnataka and Rajasthan found no takers in last months auction as bidders found the prices too high.

In an interview to CNBC-TV18, telecom analyst Mahesh Uppal and Bharat Bhargava, partner - telecom, E&Y say the reserve price is still very high.

According to them, the auction is going to be very weak.

Below is the edited transcript of his interview to CNBC-TV18.

Q: Though industry once again says that this is not enough and they are not particularly happy with that 30 percent cut, nevertheless it has been given the Cabinet's go ahead. What is your view?

Uppal: I think there is no doubt that the industry would be unhappy with this. It seems to reflect the view that somehow reserve prices need to be high. Even though this one is a little lower, but the numbers are still in thousands of crores.

I guess the government's own position is rather unenviable because if they were to lower rate to a much greater extent then they would be accused of trying to reduce the price of spectrum. That's unfortunately the result of all the mess we have seen with the Comptroller and Auditor General (CAG) and the aftermath of its report. So, I fear that we are now going through this situation where we will probably see another relatively weak auction. Hopefully, then try and come towards a more rationale price of spectrum.

Q: Do you believe that this is another instance of a failed auction or a doomed auction from the start? The government doesn't really have too much room left in terms of time. It has already said that it is not going to be able to roll out the auction process in January. It has only time up until March. What do you see as the options? As far as the main circles of Delhi and Mumbai are concerned, do you believe that there will be any takers this time around?

Uppal: Most people believe that the price of the Delhi and Mumbai circles is way disproportionate to the kind of revenues that the circles produce. Albeit inspite of the fact the revenues are huge, but so is the price. So, I do feel that we are going to see a relatively weak auction. I wouldn't go as far as to say it is doomed, but, yes, it is looking quite close to that.

Q: Do you believe that we are going to see another weak auction this time around?

Bhargava: I believe we will. The price is still very high. I think a new entrant operator will find it extremely difficult to make a business case. One or the other existing operator might have a go, but I think it is going to be very weak.



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CCEA clears new urea investment policy

The Cabinet Committee on Economic Affairs (CCEA) today approved a urea investment policy that is likely to incentivise fertiliser firms setting up new plants and expanding existing capacity. India imports over 30 per cent of urea requirement and the policy aims at reducing that. But, it is unlikely to have any impact on existing prices.

"The new urea investment policy has been cleared," sources said after the CCEA meeting here. The policy, which aims to attract fresh investment of about Rs 35,000 crore to increase domestic production by 8 million tonne, has been cleared as the 2008 urea investment policy failed to attract the much needed funds.

Under the new policy, the government will give 12-20 per cent post-tax return on fresh capital infused by manufacturers for setting up of new plants as well as for expansion and the revamp of the existing ones. To ensure this return, the government would cover the entire cost of the natural gas, which is main feedstock of urea and accounts 80 per cent of the cost.

The government controls the urea sector and has fixed the MRP at Rs 5,360 per tonne. The difference between the MRP and cost of production is given as subsidy to manufacturers. For determining the cost of production of new plants to be set up after the policy comes into effect, the government has set a floor and ceiling price of urea based on the price of natural gas plus 12-20 per cent equity returns.

Cabinet clears Cabinet Committee on Investment

Cabinet approves cut in reserve price of unsold airwaves

The new investment policy was approved by the Group of Ministers (GoM) headed by the then Finance Minister Pranab Mukherjee on February 24.However, sources said the ministry made some changes in the draft policy after inter-ministerial consultation. It proposed covering entire cost of natural gas, while the GoM had favoured providing subsidy on gas price within the range of USD 6.5-14 mmBtu.

The country produces 22 million tonnes of urea, against the requirement of 32 million tonnes



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World stock markets to extend gains into 2013: Reuters Poll

A tentatively improving global economy and plentiful central bank cash should foster gains for the world's major stock markets next year, a Reuters poll of more than 250 analysts showed.

World stocks have risen this year after a disastrous showing in 2011, and that trend should continue into the new year, led by Brazil, Russia, India and China.

Also Read: Wall Street ends flat as Fed warns on 'cliff'

Although there have been some signs of late that global growth is picking up, the poll's respondents pointed to some sizeable risks to the outlook from big Western economies.

First and foremost, there is the US "fiscal cliff", an automatic budget tightening at the end of the year, that could tip the world's biggest economy back into recession if politicians can't strike a deal to avert it.

There is also Europe's entrenched economic weakness and the ongoing risk the euro zone's smouldering sovereign debt crisis will flare up again.

Still, the general feeling was that the next year ought to be better than this one.

"This time last year, the risks to global growth were to the downside as the European debt crisis, China hard landing fears and the US 'fiscal cliff' clouded the economic outlook," said Michael Hartnett, chief investment strategist at BofA Merrill Lynch Global Research.

"For 2013, we expect the resolution of fiscal policy issues, another year of accommodative central bank actions and improving corporate profits to skew the macro and market risks to the upside."

The survey was conducted over the past week but before the US Federal Reserve announced a new round of monetary stimulus on Wednesday.

Many respondents cited expectations of central bank liquidity flushing through global financial markets as a reason to predict gains.

A NEW YEAR FOR CHINA

Asian stocks in particular should lead the way over the next year, supplanting Russia, which has recently performed best.

The Shanghai Composite, the poorest performer this year among the poll's 18 indexes, is forecast to perform best, gaining just over 17 percent by the end of next year from Wednesday's close.

However, analysts in previous polls have long expected Chinese stocks to start rocketing soon.

"Economic fundamentals will be better next year, listed companies from the financial and industrial sectors will see their growth accelerate, and monetary policy may relax," said Zheshang Securities analyst Wang Weijun, predicting a "positive shake-up" for the market next year.

Chinese and Korean stocks have the lowest 12-month forward price-earnings ratios of around 8.5, further underlining their favoured status as the top performers for next year.

EURO ZONE STABILISATION

Shanghai will be followed closely by India's BSE Sensex and Japan's Nikkei, each gaining close to 15 percent.

Germany's DAX has enjoyed the best performance so far in 2012, with a 29 percent gain up to Wednesday's close.

While a repeat of that looks very unlikely next year, major Western stock markets should do well.

Italy's FT/MIB is seen performing strongly, with a gain of about 11 percent to end-2013, followed by the pan-European DJ Euro Stoxx 50 and France's CAC 40.

"We expect some stabilisation in euro zone activity," said JPMorgan European equity strategist Emmanuel Cau, adding that because others were not as optimistic, any improvement could lead to a sharp rally in European equities.

US stocks should perform well too, with the S&P 500 expected to rise around 8.5 percent by 2013's end, providing political leaders do avert the automatic fiscal tightening there, as most analysts expect.

"While not our base case, we believe that stocks could rise substantially if US policymakers can negotiate a 'grand bargain' that credibly addresses long-term tax, spending, and entitlement reforms," said Jonathan Golub, strategist at UBS.

Taiwan's Taiex is expected to bring up the rear, with a gain of 4 percent between now and end-2013.

TOO CHEERY?

Equity strategists are a notoriously optimistic bunch, however they underestimated the gains in 11 of the 18 stock indexes for 2012 in a poll conducted in December last year. That conclusion is based on index moves so far this year.

Analysts probably tempered their forecasts for 2012 after they were badly wrong-footed in their call for 2010 and for 2011's disastrous showing for global stocks.

Still, the cheery tone of the latest poll was striking, especially when next year's economic outlook for many countries is hardly stellar.

Fewer than 10 percent of all end-2013 stock index forecasts projected a loss compared with Wednesday's closing levels.

Indeed, there were no negative end-2013 forecasts at all for stocks in Brazil, South Korea, India, Hong Kong and China.

It was a similar story for many major Western markets. For instance, only one forecaster out of 18 thought Italy's FT/MIB would finish next year lower than it is now.



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SC reserves order on plea against soft drinks

The Supreme Court today reserved its order on a plea for setting up a committee to evaluate the alleged harmful effects of soft drinks on human health and to properly label the beverages, detailing their ingredients.

A bench of justices K S Radhakrishnan and Dipak Misra reserved its order after a detailed hearing on the Public Interest Litigation petition, filed in 2004.

The plea alleged the ingredients of carbonated drinks have "serious deleterious effects on human health" and no action has been taken to test and assess the risk posed by such beverages.

Soft drink major Pepsi, however, opposed the PIL with its counsel senior advocate Mukul Rohatgi arguing that the Food Safety and Standards Act aimed at regulating the standards of beverages was "sufficient" and all the regulations were in place.

The Centre for Public Interest Litigation (CPIL), in its petition filed in 2004, had also sought directions to the cola firms to disclose the contents/ ingredients on the label of their bottles and to regulate "misleading" advertisements targeting children.

Earlier on November 23 the apex court had asked the the Food Safety and Standards Authority of India (FSSAI) to file "records" relating to proceedings of its panels, formed following a judicial order on the PIL filed by the NGO.

The court's direction came after Prashant Bhushan, appearing for NGO CPIL, alleged that instead of an expert panel, another FSSAI panel on labelling and claims/ advertisement should consider the grievance of additives in carbonated drinks.

The apex court, on February 8, 2011, had asked FSSAI to reconstitute independent scientific panels to look into the harmful effects of chemicals in carbonated beverages.



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Indian share rally to extend into next year: Reuters Poll

Indian stocks are expected to climb to a record high by the end of next year based on expected interest rate cuts and the government's resolve to press on with reforms, a Reuters poll showed.

Mumbai's benchmark Sensex index has rallied strongly since June, despite an economy headed for its slowest yearly rate of growth in a decade, stubbornly high inflation, and a record current account deficit.

Also Read: Avendus Cap says 2013 to be good for Nifty; picks sectors

The global economic backdrop has also been poor, with growth in many other emerging market economies slowing and tepid demand from the recession-mired euro zone and sluggish US economies.

But the median projection of 20 equity analysts in a survey conducted over the past week showed the Sensex is expected to hit 20,500 by June next year, and rally to 22,250 by the end of 2013, surpassing a record high of 21,206.77 from January 2008.

The mid-year consensus is almost the same as the one taken three months ago. The market is up about 4 percent since then.

If the rally is sustained to the end of next year as projected, it would mark a 15 percent gain from Wednesday's close of 19,355.26, following a 25 percent rally this year. Only four respondents said the Sensex would not end next year at a record high.

Analysts say the market should reap the benefits from an economy helped next year by cheaper borrowing costs.

The Reserve Bank of India will cut its benchmark repo rate by 75 basis points next year to 7.25 percent, but will hold policy steady at its December 18 meeting, according to the latest Reuters poll.

"Key factors that will drive the index higher in 2013 range from a reversal in the interest rate cycle to the prospect of a rebound in growth," said Aneesh Srivastava, chief investment officer at IDBI Federal Life Insurance.

The latest Reuters poll on economic outlook predicts growth will pick up to nearly 7 percent by the end of 2013.

Company earnings are also expected to improve. The average price-to-earnings ratio on the Sensex is expected to rise to 16, in line with the long-term average, from around 14.

That is high compared with regional peers. Goldman Sachs estimates Asia as a whole is trading at 11.6 times 12-month forward earnings.

Over USD 20 billion of foreign money has flowed into the Indian stock market so far this year.

As the economy gains traction next year and foreign direct investment picks up pace, the beaten-down Indian rupee will likely appreciate. That, in turn, could put a cap on expected gains.

The rupee has lost over two percent this year and was trading around 54.4 to the dollar on Thursday.

Sentiment in the equity market turned around this year on hopes the government would tackle key fiscal and economic reforms, prompted by fears of a sovereign rating downgrade.

In September, the government announced long-awaited measures such as further opening the retail and aviation sectors to foreign investors despite steep political opposition.

Only two of 13 analysts in the poll predicted the ruling coalition would have to call early elections next year, showing worries about political gridlock have eased significantly. The next elections are due in 2014.



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ASI caught while offering money to squash

Jaipur, Dec 13 (PTI) Anti-Corruption Bureau sleuths today caught an Assistant Sub-Inspector of Police red-handed while he was offering money to a person who had lodged a bribery case against him. ASI Ghanshyam Singh was nabbed while offering Rs 38,000 to complainant Ratan Lal Jagir in a bid to make him withdraw his case, ACB Inspector General Umesh Mishra said. Jagir had in February registered a case against Singh for demanding a bribe of Rs one lakh in return for the release of a relative of his who had been arrested allegedly on a false charge of disturbing peace. However, refusing to fulfil the ASI's demand, Jagir had instead filed a complaint in the matter. Mishra said a departmental inquiry was on against Singh and in order to weaken the investigation, the ASI had offered money to Jagir who again notified ACB about the move. Singh had come to meet Jagir accompanied by an associate who, however, managed to escape after seeing the ACB sleuths. PTI COR KKM MNS

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SC judge delivers verdicts in 95 cases in a day

New Delhi, Dec 13 (PTI) In what could be termed as an unprecedented feat, a Supreme Court judge, whose term is about to be over, today delivered judgements in 95 cases. Justice Swatanter Kumar, who is to retire on December 30, passed the judgements as his last working day is tomorrow as the apex court will be closed for 15 days winter vacation from December 17. He passed judgements on cases of different natures including civil and criminal ones, including the verdict on providing facilities to Amarnath pilgrims. In the important verdict, Justice Kumar said it is the government's constitutional obligation to provide basic facilities to pilgrims who visit religious places and directed the Centre and the J&K government to ensure proper health and other amenities to Amarnath pilgrims. Observing that arrangements for the yatris near the Holy Shrine are "pathetic," the comprising justices B S Chauhan and Swatanter Kumar issued a slew of directions to the governments and the Amarnath Shrine Board for widening the walking tracks to the holy cave which may be covered by pre-fabricated tiles. PTI AAC RKS RAX
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Higher education: Par panel questions viability of NCHER

New Delhi, Dec 13 (PTI) Fearing "undesired results", a Parliamentary panel has expressed its objections and questioned the viability of a proposed over-arching body in higher education subsuming regulators like UGC and AICTE. "Proposal cannot be considered a viable mechanism to deal with ever increasing categories of higher education as well as massive expansion of higher education in the country," the panel, examining the Higher Education and Research Bill 2011 for creation of National Commission for Higher Education and Research (NCHER), said. In its report tabled in Parliament today, the panel said it is "virtually not possible" for the over-arching body to undertake the function of regulating all the specialised fields in a vast country like India. The panel suggested to form an over-arching commission which would work as a coordinator with the specialised bodies like UGC, AICTE and NCTE, as a workable formula under the overall supervision of the Commission. The time and attention to be devoted to each aspect of higher education sector are too demanding and these cannot be effectively handled by a single body, the panel said. "The creation of an over-arching body is also not considered a wise move as it is against the principles of management," the panel, headed by Congress MP Oscar Fernandes, said in its report. Before bringing forth the legislation, it suggested that a study of the problems and areas of weaknesses in the existing regulatory bodies needs to be made. On the issue of inclusion of medical research under the body which had created a stir, the panel suggested bringing the academic aspect only under it and leaving the medical research under the National Commission for Human Resources in the Health Bill. PTI SGI RAI

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SEBI comes out with instructions for bourses on governance

Market regulator SEBI today announced exhaustive instructions related to ownership and governance for stock exchanges and clearing corporations, a move aimed to promote their effective and transparent functioning.

Also read: Sebi seeks 'well-defined' norms for money raising schemes

Stock exchanges and clearing corporations are now required to submit background and related information to establish that their shareholders/promoters are "fit and proper persons", among others.

Entities seeking recognition to operate as a bourse or clearing corporation need to submit various information, including business feasibility plan for the next five years, financial statements and bank account details, to SEBI.

A key element in execution of orders on exchanges, clearing corporations work with bourses to handle confirmation, delivery and settlement of transactions.

In a circular, market regulator SEBI said the applicant should provide satisfactory information regarding appointment of heads of key departments such as legal, listing, member registration, trading and surveillance in case of a stock exchange.

Once the recognition is granted, stock exchanges can commence operations with a minimum of 50 trading members while there should be at least 25 clearing members to start a clearing corporation.

Those exchanges and clearing corporation having a networth of less than Rs 100 crore and Rs 300 crore, respectively, at the time of commencement, have to submit plans-  within 90 days - for achieving minimum threshold networth levels. These plans have to be approved by respective shareholders.

Outlining instructions for executive compensation at stock exchanges and clearing corporations, SEBI said variable pay component would not exceed one-third of total amount and 50 percent of the variable pay would be paid on a deferred basis after three years.

As per SEBI, ESOPs (Employees Stock Options Plan) and other equity linked instruments would not form part of the compensation for the key management personnel. Before giving compensation, entities are required to consider their financial conditions such as net profit and revenues.



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Ajit Pawar to make comeback in Maha govt as Dy CM tomorrow

Written By Unknown on Kamis, 06 Desember 2012 | 23.06

Mumbai, Dec 6 (PTI) Senior NCP leader Ajit Pawar, who had resigned from the Cabinet in September following charges of corruption in irrigation projects, is set to make a comeback tomorrow as Maharashtra deputy chief minister. Pawar will be sworn in at 10 am at Raj Bhavan, sources close to the NCP leader told PTI this evening. After the White Paper on irrigation scam was presented before the state Cabinet last fortnight, it was a matter of time before Ajit was re-inducted, they said. In the period after he stepped down, the party had desisted from naming any other NCP leader as deputy chief minister, leading to speculation that the post was being kept vacant for Ajit to reoccupy it. The decks for re-induction of Ajit, nephew of NCP chief Sharad Pawar, were cleared following the presentation of the White Paper. NCP spokesperson Nawab Malik said party activists wanted Ajit to rejoin the government and would convey their feelings to the leadership. There was a growing clamour for Ajit's comeback before the winter session of the state legislature, which begins at Nagpur on December 10, from several NCP leaders and activists. PTI VT NSK ZMN
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HC vacates interim stay on TN G.O.

Chennai,Dec6 (PTI) The Madras High Court today vacated an interim stay on the Tamil Nadu government's order which rejected the participation of CBSE students in sports events conducted by the state School Education Department. The court had earlier granted an interim stay on the G.O. dated February 21 this year, in which the state government stated CBSE students were not being allowed to take part in sports events conducted by it due to administrative reasons. In its counter, the state government submitted that if students from the state board were allowed to take part in the tournaments conducted by CBSE schools, the gesture would be reciprocated by the state government. A CBSE student in his petition sought to quash the GO, saying the state government's contention that there would be administrative difficulties if CBSE students were allowed to take part was "arbitrary and unreasonable." Petitioner's counsel submitted that the petitioner has sought to distinguish the case stating that Gymnastics was not one of the sports events in the sports meet conducted by the CBSE and hence he shall be permitted to participate in the events that are to be conducted by Tamil Nadu government. Justice D Hariparanthaman, in his order, said, "If the petitioner had grievance that the CBSE does not conduct the sports events of Gymnastics, they should make a request to the CBSE to include the same, since the petitioners are studying in the CBSE schools." PTI DSJ BN DK
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Court wants BBMP to clear garbage within a week

Bangalore,Dec6 (PTI) The Karnataka High court today made it clear to the civic body that it wanted the city to be cleared of garbage within a week. Hearing a PIL filed on the matter by advocate G R Mohan, a Division Bench, headed by Chief Justice Vikramajit Sen, stated that if anybody was found interfering with the Bruhat Bangalore Mahanagara Palike (city corporation) in clearing the garbage mess, he would be dealt with in accordance with law. It is the state government's responsibility to ensure that BBMP clears the garbage within a week,the court observed. The court then took on record the status report filed by the government in which it stated that seven landfills had been identified by the state for dumping of garbage out of which two had been cleared by the Pollution Control Board. The court then adjourned the matter to December 13 for further hearing. Earlier, the petitioner submitted that despite several interim orders passed by the court garbage had not been cleared and was being dumped in street corners despite segregation of wet waste by the citizens. On November 22, the court had directed the government and the BBMP to submit a status report on steps taken to address garbage menace in the city within two weeks. PTI BH BN DK
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State agencies should treat disabled with dignity: HC

Chennai,Dec6 (PTI) The Madras High Court today said unless the Tamil Nadu state transport corporations are slapped with heavy costs, they will not honour their commitment to Persons with Disability (Equal Opportunities, Protection of Rights and Full Participation) Act. E Humayun Sheriff, a driver with the Villupuram division of the State Transport Corporation in Kancheepuram 1982, met with an accident and suffered serious injuries to his leg, which, a medical board said, made him unfit to continue in the post and so he was removed from service in July 1997. Following his request, the management appointed him as a junior clerk in 1997 as a new entrant without continuity in service. Sheriff approached the High Court and a single judge had in 2010 ordered in his favour which was challenged by the management. Dismissing the appeal, a Division Bench, comprising, Justices Elipe Dharma Rao and N Kirubakaran, in its order, said in this case, the management miserably failed to act as per the provisions of the Act and the rights of Sheriff had been violated by the management and he was made to work with lesser service benefits. "All the instrumentalities of the State should treat the disabled with dignity and give the benefits under the Act and should not indulge in acts which were contrary to the laws in force," they said. "Therefore, it had to be slapped with heavy cost for having failed to respect the intention and mandate of the Parliament, which enacted the beneficial Act. Only then they would not commit or repeat the same mistake or illegality in future," the bench said. The bench slapped a cost of Rs 50000 on the transport corporation and further directed the management to provide continuity in service and other benefits to Sheriff within eight weeks. PTI DSJ BN DK
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Centre, State govts must enforce Drugs amp; Cosmetics Act:Kalam

Chennai,Dec6 (PTI) Former President A P J Abdul Kalam today said the Central and State governments must ensure that the Drugs and Cosmetics Act is properly enforced to check spurious drugs flooding the market. "There is a perception that a large number of pharmaceutical products sold in India are counterfeit or of sub-standard quality. These drugs are generally made by unscrupulous elements and supplied surreptitiously to chemist shops through illegal channels", he said. "Central and State governments have to ensure that the Drugs and Cosmetics Act is properly enforced to check this nefarious practice. Pharmacists must ensure that their sources of supply of drugs are reliable to check the menace of spurious drugs", he said, inaugurating the 64th Indian Pharmaceutical Congress organised by SRM University, here. The former President called for inclusion of subjects in the course curriculum which will enable detection of spurious pharmaceutical products by pharmacists. "The pharmacy education has an important role to play in equipping the students with the knowledge and ability to detect the entry of unauthorised drugs into circulation. Also, every effort should be made to check the manufacture, sale and distribution of spurious drugs", he said. Observing that the country has performed well in the industrial pharmacy segment, Kalam said the pharmacy degree programme is required to be realigned with job requirements. "We have to develop a strategy to bring about continuous upgradation in pharmacy education to meet the changing needs of the profession", he said. He said the global production of pharmaceuticals, branded and generics were about USD 550 billion; the value of Indian pharma industry was about USD 30 billion. "While evolving the Pharma Vision 2020, I would like to suggest that we should identify all such missions which will make India the leader in drug production", he said.PTI VIJ BN DK
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BJP seeks explanation for amendments in FEMA

New Delhi, Dec 6 (PTI) Opposition BJP today sought explanation from the government for making amendments in the the Foreign Exchange Management Act (FEMA) to allow FDI in multi-brand retail retrospective. Five amendments, notified by the Reserve Bank of India between May and October this year, were tabled in the Rajya Sabha by Minister of State for Finance S Palanimanickam during Zero Hour. Seeking reasons for making FEMA amendments retrospective, senior BJP leader Ravi Shankar Prasad raised a point of order saying, "As per the paper, many regulations under FEMA are being made retrospective. ...a statement is required on the necessity to make it retrospective. Will the Minister kindly explain why, under what provision, and for what purpose, are these notifications of regulations being made retrospective?" There are a series of reports of the Committee on Subordinate Legislation, which state that regulation cannot be made retrospective unless there is a provision in the parent law, he said. "They have not been provisioned by Parliament. Through subordinate legislation, they are making it retrospective. FEMA has far-reaching implications. He must explain that," he demanded. Another senior BJP member Venkaiah Naidu also demanded such an explanation. BJP was supported by other Opposition parties, particularly CPI (M) and AGP. Responding to their demand, Finance Minister P Chidambaram said, "I will certainly answer any question that is being raised. But, obviously, I would need time." PTI LUX NAM AMR SMI
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Indian couple in Norway file appeal in child abuse case

Oslo, Dec 6 (PTI) An Indian software professional and his wife, who were convicted for "serious child abuse" of their seven-year-old son, have filed an appeal in a higher court in Norway. Chandrasekhar Vallabhaneni and his wife Anupama, who were arrested by police last month, were sentenced by Oslo District Court to jail terms for 18 months and 15 months respectively on Tuesday for gross or repeated maltreatment of their child/children by threats, violence or other wrong. The court had sentenced Chandrasekhar to a 18-month jail term and 15 months for his wife Anupama. They have now filed an appeal in a higher court, sources said. During the hearing today, while defence contended that the couple should be released till the pending of the appeal, the prosecution submitted that they cannot be release and should not be kept under detention till the final outcome of the appeal, Oslo police sources told PTI. Convicting the couple, the Oslo District Court had ruled that couple had "deliberately burned their son's leg with a hot spoon or similar object with the result that the child had burn marks measuring approximately 3 x 5 centimetres." The court had said it had been proven that on one occasion the parents had even threatened to brand their son's tongue with a hot spoon. PTI PYK SAP


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Wall Street flat, volatile; fiscal talks, Apple in focus

By Rodrigo Campos

NEW YORK (Reuters) - U.S. stocks were little changed in choppy morning trading on Thursday as upbeat guidance from Broadcom partially offset weakness in Apple shares, while traders kept an eye on fiscal negotiations in Washington.

Extending Wednesday's 6.4 percent decline, Apple was trading down 0.7 percent at $535 early on Thursday, after falling as much as 3.7 percent at the open, which brought the market capitalization of the world's largest publicly traded company down to below $500 billion briefly. In September, it was capitalized at a record $663 billion.

Broadcom shares led the advance in chip makers with a 2.1 percent gain, one day after it forecast for fourth-quarter revenue at the high end of its target range, citing slightly better-than-expected sales in its mobile business.

The PHLX semiconductor index rose 0.4 percent.

Budget discussions continued to be a key focus for investors. President Barack Obama said there could be a quick deal to avert the "fiscal cliff" - tax hikes and spending cuts set to begin next year, possibly driving the U.S. economy back into recession - if Republican leaders agree to raise tax rates for those making more than $250,000 a year.

While Republican leaders in the House of Representatives insist that raising tax rates on the rich is a no-go, some GOP lawmakers now see it as inevitable to avoid the fiscal cliff.

"There are no real triggers here. It is just positioning going on for year-end, and this big decision" on the fiscal cliff, said Rick Meckler, president of hedge fund LibertyView Capital Management LLC in Jersey City, New Jersey.

He said Apple's weakness was taking a toll on the market and expects equities to continue trading choppily through the day.

The Dow Jones industrial average fell 17.89 points, or 0.14 percent, to 13,016.60. The S&P 500 dropped 1.78 points, or 0.13 percent, to 1,407.50. The Nasdaq Composite Index gained 2.89 points, or 0.10 percent, to 2,976.59.

Apple Inc's rank in China's smartphone market fell to No.6 in the third quarter as it faces tougher competition from Chinese brands, research firm IDC said Thursday. Apple's 6.4 percent drop on Wednesday was its worst daily performance since December 2008 and dragged down the Nasdaq Composite.

Shares of Apple were down 0.7 percent at $535, after earlier falling more than 3 percent.

Sirius XM Radio shares rose 2.2 percent to $2.83 after its board approved a $2 billion stock repurchase and issued a special dividend, giving a big payout to its largest shareholder, Liberty Media.

Without action from Congress in coming weeks, tax cuts on capital gains and dividends will expire at the end of 2012.

Garmin shares rose 5 percent to $41.71 after Standard & Poor's said it would add the navigation device maker to its S&P 500 index. Garmin will replace R.R. Donnelley & Sons after the close of trading on December 11.

Several European equity benchmark indexes hit 2012 highs, boosted by hopes a U.S. budget deal will be reached before the year-end, and that the worst of Europe's debt crisis might be over.

(Additional reporting by Herbert Lash; Editing by Bernadette Baum)



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