Archive for the ‘majority’ tag

Tata Power in talks to buy majority stake in InterGen (Google News – Business)

British Pound Vulnerable As Risk Appetite Wanes on European Banking Concerns

[DailyFX] – The GBP/USD recovered a majority of its earlier losses after a better than expected U.S. initial jobless claims report added to prevailing optimism. Double dip recession concerns for the world’s largest economy have started to fade, helping curb bearish sterling sentiment, as risks trends continue to be the primary driver of price action for the pair with its correlation strengthening from 38% to 49%.

Italian priest says Islam will rule EU

London, Sept. 8: Christians in Europe must have more children or else the continent would become Islamised, said a Vatican official who predicted that Islam would sooner rather than later conquer the majority in Europe.

Italian Father Piero Gheddo said the poor birth rate among Europeans coupled with waves of Muslim immigrants could lead to Europe getting dominated by Islam.

“The challeng

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Cairn Energy to pay up to $1.1bn in taxes on Vedanta deal

While UK’s Vodafone Group fights its tax liability in courts, British firm Cairn Energy Plc said it will pay all taxes due, both in India and the UK, on the $8.48 billion sale of a majority stake in its Indian arm to Vedanta Resources.

Kuwaiti banks’ provisions totalled $2.6 billion during 2009; KFH tops

The financial turmoil has put most of the markets and firms across the globe under a test of endurance and buoyancy. The unforeseen crisis hit sectors harder than ever expected and thereby resulted in a deterioration of a majority of global economies…

Abu Dhabi healthcare facilities producing 12 tonnes of waste every day

United Arab Emirates: Experts have reported that around 12 tonnes of medical waste is produced every day by healthcare facilities in Abu Dhabi, the majority of which comes from the government-run hospitals and clinics, Khaleej Times has reported. The combined medical waste output of SEHA’s 12 hospitals and 62 clinics amounts to 9 tonnes per day, with its largest hospital, the Shaikh Khalifa Medical City (SKMC), producing a daily average of 1.9 tonnes, Yasin Ramahi, senior Health, Safety and Environment specialist at Abu Dhabi Health Services (SEHA) said. [AMEInfo.com]

India Inc upbeat on recruitment

The majority of employers in the country anticipate the creation of new jobs in the coming months of this year, according to a survey released on Tuesday.

Gillard back as Aussie PM

Australian Prime Minister Julia Gillard secured a wafer thin parliamentary majority on Tuesday, ending a political impasse but hardly cheering investors worried about the fragility of her government.

Kashmir imbroglio: A way out

Notwithstanding reports projecting that the spurt in street violence since mid-June this year in several parts of the Valley has acquired dangerous proportions, that the protests represent a popular uprising and that the nature and intensity of the current agitation are different from the past, the situation is far from being nearly as desperate as is sometimes painted to be.

A careful analysis of various factors indicates that though the situation has deteriorated as compared to last year, yet many of the conclusions are misconceived and are influenced by the propaganda of separatists and Pakistan. The following factors in this context merit attention-
"The protests are confined to only some parts of the Valley. Well researched figures available in the media reveal that the violent protests have been witnessed in seven out of ten districts of the Valley and more frequent protests have been noted only in the four districts- Baramulla, Srinagar, Anantnag and Pulwama.

*A section of stone throwers is receiving money to participate in these protests to target the security force personnel. Intelligence reports also reveal that the protesters include a large number of those persons who have taken up stone pelting as a lucrative business. CM Omar Abdullah had noted in April, "The industry of stone pelting is very much on our radar. We have in fact been able to identify a couple of big business houses, one in particular which has used its networks of dealers to route the money through."

*These protests are being organized by separatist leaders at the behest of Pak ISI which had been preparing for this strategy since 2006. The calendar of protests is prepared and issued by the separatists. The adherence to these calls by common people is mainly because of the muscle power of the miniscule separatists and not because of their own conviction. For example, the Lassipora Industrial Estate in Pulwama and Rangreth Industrial Estate were not affected by the protests in the beginning but after the visit of terrorists, the situation changed.

*The cycle of violence suggests a set pattern indicating how carefully these protests are orchestrated. When the street rage begins to peter out in one area, protests erupt in some other region. Home Minister stated on August 4, 2010 that there was a reliable intelligence that at least one armed militant had mingled with the crowds and fired at the security forces. This suggests that the planners are deliberately creating situations in which the security forces are forced to fire.

*Some early signs of people in the Valley getting fed up with the growing number of calls for protests are now visible. On September 4, 2010 residents in Srinagar defied the call for protests and went about their business as usual. Shopkeepers and taxi drivers expressed that as they were suffering financially since mid June because of the frequent calls of protests, hence they decided to defy the separatists’ strike call. Towards the end of August, scores of parents and students marched to Srinagar from Ganderbal district carrying placards to protest against the closure of schools and colleges. A leading school in Srinagar was forced to shift its class XII students to New Delhi to salvage their academic year.

Though the separatists’ strategy and their Pak mentors’ guidance and support form the main cause of the current crisis, yet they do not provide the complete picture. Much blame should also come to the Kashmiri politicians whose lackluster performance and vote bank politics have significantly contributed to the deterioration of the situation in the J&K. Bureaucracy too is responsible for generating frustration among the common people. Corruption is rampant and there is clearly absence of visible development. The officials are not seen as paying due attention to the grievance of residents. Elements of good governance are missing.  This strengthens the perception that the administration in the State has collapsed.

The security forces too are not fully trained to deal with the situation that has arisen recently. The perception is growing that the security forces are not adhering to the principle of use of minimum force. Analysts have pointed out that the security forces are not adopting non lethal sophisticated methods for controlling the crowd. The continuing deaths in firings of the security forces strengthen this perception.

The National Conference, which obtained a sizable number of seats in the elections about two years ago, is fast losing its popularity. The PDP has been espousing the cause of separatists and is always looking for an opportunity to oust the present government. A deliberate effort is on to project that the present Chief Minister is not capable of handling the current crisis. Even those elements who are convinced of sincerity of Omar Abdullah, feel that he lacks maturity to deal with the opportunist political leaders in J&K. If violence continues, the ruling government would find it difficult to continue.

The moot question is how to deal with the current cycle of violence. SAS Geelani has stated that Kashmiris desire only azadi and nothing less than secession of J&K from India would satisfy them. This is not correct as majority of residents of the State do not desire this. It is wrong to presume that all Muslims of the State want azadi. The younger elements are not clear about the concept of azadi as was clear from their interaction with some politicians that was reported in the media. The political leaders both in J&K and in New Delhi stress the need for political solution and to start a dialogue with the separatists. PM has come out with the employment and economic development package. While these are to some extent needed, the policy makers need to accurately assess the causes behind the current violence and protests and the changing nature of demands to undertake appropriate steps to restore normalcy.

The immediate causes should be given priority rather than the long term measures. The present unrest stems out of the perception of "deliberate killings" in the police firings. This has allowed the separatists and the Pak agencies to create a perception that the present regime is supporting the security personnel who are indulging in ruthless human rights violations. Therefore as the first step the perception that the Government tends to bat for the errant elements in the security forces and not for the people of J&K needs to be removed by ordering a probe in all such cases. A judicial commission should be established at the earliest for this purpose. This may certainly adversely affect the morale of the security forces but this would go a long way to satisfy the protesters. The Government must make it clear that the guilty would be suitably punished.  The investigations may expose the manipulations by the separatists, which could nullify the allegations against the security forces. Alongside, a mechanism for prompt and satisfactory attention to the complaints of excessive use of force or violation of human rights should be established. There is a feeling among the residents of J&K that there is no effective mechanism to pay attention to their grievances.

The second step should be aimed at starting an interaction with the young men who are involved in the agitation. There has been a lot of pressure to start a dialogue with the separatists. This should be avoided in the present circumstances as under the shadow of protests and continuing violence, it is not likely to succeed. The Government should immediately appoint an interlocutor to start the process of interaction with the agitating youth. The person for this job should be carefully selected. It may be better to appoint a politician who understands the problems of all the sections of J&K. Appointment of a retired bureaucrat should be avoided as they are seen as following the established line. The interlocutor should talk to all sections. The migrants from the Valley should also be consulted and all efforts should be made to bring them back to the Valley.

The third step should be to put in place sophisticated methods of crowd control and avoid the use of lethal weapons. The security forces should keep in mind that increasing number of incidents of killings would make the situation intractable. They should also ensure that no one is ill treated. The PM has already stressed the need for non lethal mechanisms of crowd control. This would also require suitable training of security forces in such methods. The security forces must realize that in situations like this, the emphasis should be on winning over "hearts and minds of the people". Their involvement in providing necessary medical and educational facilities to people particularly in difficult areas would go a long way in earning of their goodwill. The rotation of units of security forces at suitable intervals is also necessary to ensure that the fatigue factor does not adversely affect their decision making capabilities.

The fourth step that the Central Government should take is to energize the Task Force for Psychological Campaign to counter the malicious propaganda of the separatists and the Pak agencies. This was established under the Home Secretary by the Group of Ministers in 2001. However it seldom meets. This should meet at regular intervals to provide necessary guidance to the concerned agencies. This institution can play a significant role in removing the wrong perceptions and media management, which are crucial at this juncture.  India has so far been silent as far as the happenings in PoK are concerned. Despite the fact that this area belongs to India, there has been no systematic effort made to project our concerns over denial of democratic rights to people there and deliberate change in the demography of the region by Pakistan that adversely affects the local people. If these facts are brought to the notice of the people in J&K, they would be able to clearly see the game plan of Pakistan. The fact that PoK is ruled like a colony of Pakistan needs to be placed before the people. The residents in Gilgit-Baltistan are already revolting against the Pak governance policy and it is India’s moral obligation to support the "freedom fighters" there.

The Hurriyat leaders are not the real leaders of the people of J&K. They have not faced elections. Of course their ability to create mischief is high, which is because of the support of terrorists and not because of their wide spread support. Therefore, they should be treated accordingly. Media has over projected the "willingness" of Geelani to support the dialogue process. He has placed his five pre conditions for talks which only support the Pak line. Any temptation to have a dialogue with the separatists should be avoided with these preconditions though this may receive a pat from the international community. Any dialogue under the shadow of protests and violence is unlikely to yield the desired results.

The political leaders should improve their performance. They must realize that if their performance remains unsatisfactory, people are bound to express their resentment against them. Most of the political leaders have stopped addressing rallies in the Valley since mid-June. The governance needs to be improved significantly. The official machinery should be sensitive to the problems of the people. It may be recalled that in 2006 in the Round Table Conference, the PM had announced people centric initiatives which had positive impact. Their implementation in letter and spirit needs to be pursued.

The proposal to lift the Armed Forces (Special Powers) Act should be taken after considering all the facts. This should not be done merely to placate the protesters. While the removal of this Act has become one of the demands of the protesters, it must be recognized that the current anger of the protesters is primarily against the deaths in the firings on the protesters. The infiltration continues and reports suggest that a sizeable number of foreign terrorists are present in J&K. The likely repercussions of the removal of the Act should be accurately assessed. Similarly the impact of reduction of the security forces should be analyzed in the light of the developing situation. However, the relocation of the security pickets in the civilian areas can be undertaken.

The larger question of political initiatives to satisfy the aspirations of the people of J&K should be seen in the wider context of Centre-State Relations. There are several other states which are governed by Special Acts like J&K. If J&K has Art 370, Nagaland has Art.371-A, Assam has Art 371-B, Manipur has Art-371-C, Andhra Pradesh has Art 371-D and there are special provisions for Sikkim, Mizoram, Arunachal Pradesh and Goa as well. If some concessions are to be given to J&K, similar demands would be made by other States. The Centre- State Commission has dealt with all such aspects in its report. Its recommendations need to be examined for implementation. The need for devolution of power to the lowest administrative unit is certainly desirable. The aspirations of people would be satisfied if they are involved in the decision making bodies at the local levels. This should be done in all the States.
 
It is necessary to note that there is no quick political solution for the problem. Indian policy makers should not take any political measure in a hurry that would create serious problems for our successive generations.                    

Bahrain steps up pressure on ‘plotters’

What began last month with the arrest of an opposition leader in Bahrain has mushroomed into a full-blown political offensive in the tiny Gulf nation with big fault lines: US-allied rulers against members of a majority being cast as coup plotters who could open the door to Iranian influence.

Mounting medical waste poses health risk in Capital

ABU DHABI – Healthcare facilities in the Abu Dhabi emirate produce around 12 tonnes of medical waste per day, majority of which are from the government-run hospitals and clinics, Khaleej Times has learnt.

UAE banks to stop transfers to Iran

Money transfers to Iran have been stopped by the majority of lenders in the UAE after the latest round of sanctions on the Islamic republic, AFP has reported, citing banking sources. “We stopped transfers to Iran in all currencies in July,” an executive from an international bank, who spoke on condition of anonymity, told the news service. “Transactions by Iranian clients are closely monitored,” the banker said.

Saudi to award more construction contracts in 2010

Saudi Arabia’s National Commercial Bank has issued a new report which forecasts that the kingdom will award more construction contracts through the year within its post-crisis fiscal expansion strategy, Emirates Business has reported. The second quarter of 2010 saw a consistent increase in the value of awarded contracts, with the total awarded deals during leaping to more than SR24.2bn from around SR8.8bn during the first quarter, the bank said in its Construction Index Survey. The sectors that contributed to the majority of the growth in awarded contracts during the first half of 2010 were power (SR11.7bn), residential real estate (SR5.9bn), roads (SR3.9bn), mixed-use real estate (SR2bn), and urban development (SR2bn), the survey showed.

‘Need better public transport facilities’

Denouncing civic policies, which favour the minority of motorists more than the overwhelming majority of pedestrians and cyclists, State Minister for Health & Environment, Suresh Shetty, on Friday joined experts and activists in asking for more pedestrian friendly facilities on the city’s roads.

Journalism in the Gulf is losing its appeal | Hussain Ahmad (Guardian)

Indian journalists have long formed the backbone of the media in the Gulf but it’s a decreasingly rewarding career moveRecently a friend of mine who wanted to start a magazine in a Gulf country asked a prominent journalist in India to look for an editor to work with him. My friend wanted someone with modest experience and the salary offered was decent. After two months came the reply: the search in India had turned up nothing and, more surprisingly, many young journalists who were contacted didn’t even bother to get the details of the offer.This is not unusual. Across the Gulf, an increasing number of newspapers and other publications are finding it difficult to recruit journalists from India, and some have to contend with a depleting staff. Also, many Indians who joined the Gulf media recently have returned home.This development marks a seismic change in the short history of English journalism in the Gulf. For decades, Indians have formed the backbone of the region’s English-language press and currently constitute around 70% of its journalists.So why is the Gulf losing its allure for Indian journalists? First, India is witnessing a media boom, which has resulted in an unprecedented surge in salaries. Television channels are proliferating, newspapers are on an expansion spree and new players are entering the market ? all of which have opened up an Eldorado of opportunities for local journalists. At the same time in the Gulf, salaries haven’t kept pace with galloping inflation due to the availability of cheap labour from a number of countries.Secondly, journalism in the Gulf is not held in high esteem by media professionals in India, and Gulf experience adds no value to one’s CV. Those who have had a long stint in the region admit it has been a drain on their creativity and a corrosive influence. There is no professional growth for a large majority, no freedom of expression and no competition, and journalism practised there is, at best, the PR variety.Investigation into sensitive issues is unheard of. The Gulf governments tend to have an aversion to public exposure of anything negative and detest controversies. Even the local population doesn’t expect foreigners to dig up anything murky, as it is seen as an intrusion. The lines are clearly drawn and foreign journalists should not cross them ? unless they are prepared for a one-way ticket home.In the Gulf, it’s not governments alone that influence news. Commenting on an article I wrote in Cif recently about migration to the Gulf from the Indian state of Kerala, a reader said Indian journalists in the Gulf should highlight the exploitation of workers by companies, especially those managed by Indians.He was perhaps alluding to the failure of Indian journalists to expose the violations committed by their own countrymen. This failure is a fact and is a rank example of both the helplessness and degeneration of Indian media workers. Businessmen are the biggest dispensers of gifts and favours to journalists, and the latter wouldn’t do anything to invite their displeasure. Even if a few want to expose their misdeeds, they may not succeed because businessmen, as advertisers, have immense influence over media owners. This doesn’t mean they routinely flout the laws, but that free and fair reporting is very tough.Indian journalists working in the Gulf miss the influence and social status they enjoy back home. India has a free media and journalists have easy access to all centres of power. Politicians, bureaucrats and celebrities court them, and vice versa. Steady, stunning exposés of corruption in high places, controversies involving celebrities, and a stream of sensational stories make their career exciting.For those who are used to such heady stuff, reporting on the routine activities of expatriate organisations and the inauguration of neighbourhood supermarkets in a Gulf country will appear not only utterly stupefying, but even outright trash.The English-language media in this region will continue to be dominated by foreigners, Indians or others, for a long time. Gulf citizens are a rare sight in the newsrooms. Despite the vigorous nationalisation of jobs being undertaken by governments, there is no talk of representation of Gulf nationals in the English-language media. The reason: this is a creative profession that requires both skills and experience to excel, and Gulf citizens who enter the field don’t have the patience to acquire both ? at least, not for the salaries they are paid.The new trend doesn’t mean that Indians will soon empty out of the newsrooms. India has a huge reservoir of manpower; so replacement will not be a problem. But quality will certainly be a casualty if managements don’t take corrective steps to retain and attract talent.While I was writing this, my mobile phone rang. I answered the call and my colleague broke the news: he has submitted his resignation.Middle East & the mediaIndiaMiddle EastNewspapers & magazinesHussain Ahmadguardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds

CorporateCommercial Lawyer 2-4 years PQE Abu Dhabi

AJP Our client is one of the worlds largest law firms with a presence spanning a majority of the major financial markets With a long established and successful presence in the UAE they have a broad and loyal client base providing high quality transactional work They now require a corporate lawyer who is likely to have trained (more) p JSU

Damas and Amwal reach settlement

Saudi private equity firm Amwal Alkhaleej has announced that it has resolved its $22m legal dispute with Damas Investments and the Abdullah Brothers. The brothers said they have transferring 20 million shares in Damas International to the private equity company as part of a settlement. Amwal AlKhaleej sued the brothers, who are majority shareholders of Damas International, after accusing the jewellery retailer of not paying for shares it acquired before the Dubai company went public in 2008.

Country Manager – Doha

My client are an American multi-national who specialise in providing logistics services cargo transportation and in-house support services for military and defence contractsThey have hubs in the majority of the Middle-Eastern countries and due to expansion they now have a Country Manager vacancy to be based in QatarYou will head up all operatio

Delhi policemen, armed but not dangerous

Thirty days from now, the Delhi Police will be on their biggest ‘mission’ — they will be the first line of defence against terrorists, Maoists and any other threat to the Commonwealth Games. A majority of senior officers haven’t been to the shooting range in years, reports Karan Choudhury. Firing blanks

Cytoplasmic p21 expression levels determine cisplatin resistance in human testicular cancer

Platinum-based chemotherapies such as cisplatin are used as first-line treatment for many cancers. Although there is often a high initial responsiveness, the majority of patients eventually relapse with platinum-resistant disease. For example, a subset of testicular cancer patients still die even though testicular cancer is considered a paradigm of cisplatin-sensitive solid tumors, but the mechanisms of chemoresistance remain elusive. Here, we have shown that one key determinant of cisplatin-resistance in testicular embryonal carcinoma (EC) is high cytoplasmic expression of the cyclin-dependent kinase (CDK) inhibitor p21. The EC component of the majority of refractory testicular cancer patients exhibited high cytoplasmic p21 expression, which protected EC cell lines against cisplatin-induced apoptosis via CDK2 inhibition. Localization of p21 in the cytoplasm was critical for cisplatin resistance, since relocalization of p21 to the nucleus by Akt inhibition sensitized EC cell lines to cisplatin. We also demonstrated in EC cell lines and human tumor tissue that high cytoplasmic p21 expression and cisplatin resistance of EC were inversely associated with the expression of Oct4 and miR-106b seed family members. Thus, targeting cytoplasmic p21, including by modulation of the Oct4/miR-106b/p21 pathway, may offer new strategies for the treatment of chemoresistant testicular and other types of cancer.

76% Delhiites feel CWG expense unjustified, 80% worry about tab

With a month left for Commonwealth Games, Delhiites are an angry lot. A TOI poll shows that a majority feel the Games have severely disrupted their lives while funds have been wasted and corruption has hurt India’s image.

New labour law just ink on paper: KBU chief

KUWAIT CITY, Aug 30: The Chairperson of Kuwait Banks Union (KBU) Mansour Ashour said the new labor law of the private sector is mere ink on paper, since the law hasn’t been properly implemented. He added the majority of banks are not committed to pr…

Cairn cannot sell stake to Vedanta without our consent: ONGC

State-owned Oil and Natural Gas Corp (ONGC) today said UK’s Cairn Energy Plc cannot sell a majority stake in Cairn India to Vedanta Resources without its consent.

Govt may not be able to scrap Cairn-Vedanta deal

With Cairn Energy Plc voluntarily offering to meet government conditions, the Oil Ministry may find it difficult to nix its deal to sell majority stake in Cairn India to Vedanta Resources.

Teenage girl killed in skinhead rampage at Russian festival (Guardian)

Over 100 men attack at Tornado festival in Miass, injuring up to 100 people in latest ultra-nationalist attack to hit countryA 14-year-old girl was killed and dozens of revellers injured yesterday when more than 100 bare-chested skinheads rampaged through a rock concert in central Russia attacking people with iron clubs.The teenager was among a crowd of around 3,000 people at the Tornado festival in Miass, 900 miles east of Moscow, when the attack happened.Many visitors were left bloodied and dazed after being hit with iron clubs and sticks, television and news agencies reported. One report, quoting a police source, suggested the teenage girl had suffered multiple stab wounds.State-owned Rossiya-24 TV saidup to 100 people were injured and 14 ambulances were called to the scene.Images on the local news website Chelnovosti.ru showed battered revellers and scores of skinheads congregating at the event, which featured Russia’s top rock acts.The motive for the assault was not known, and the ITAR-Tass news agency said local police had refused to comment.Witnesses told Russian journalists that the skinheads burst through security cordons, pushing police aside and in some cases grabbing their truncheons to attack visitors.The Ekho Moskvy radio station reported that around 15 attackers were detained, but the majority fled.Russia has an ingrained neo-Nazi skinhead movement and attacks on foreigners in Moscow and St Petersburg have been relatively common in recent years. The January 2009 murder of lawyer Stanislav Markelov and journalist Anastasiya Baburova prompted a Kremlin crackdown on ultra-nationalists, who were blamed for the killings.In April, a Moscow court banned the far-right Slavic Union, whose Russian acronym SS intentionally mimicked that used by the Nazis’ infamous paramilitaries. The group was declared extremist and shut down, but the group’s leader, Dmitry Demushkin, complained that it had tried to promote its far-right agenda legally and warned that the ban would enrage and embolden Russia’s most radical ultra-nationalists.Neo-Nazi and other ultra-nationalist groups thrived in Russia after the Soviet collapse in 1991. The influx of immigrant workers and two wars with Chechen separatists triggered xenophobia and a surge in hate crimes.Racially motivated attacks, often targeting people from Caucasus and Central Asia, peaked in 2008, when 110 people were killed and 487 wounded, an independent watchdog, Sova, said. The Moscow Bureau for Human Rights estimated that some 70,000 neo-Nazis were active in Russia compared with a just few thousand in the early 1990s.RussiaThe far rightDamien Pearseguardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds

Vedanta deal not against India’s interest: Cairn

Seeking to placate India’s concerns on its deal with Vedanta Resources, the UK’s Cairn Energy said it will comply with all contractual obligations in sale of its majority stake in Cairn India to the world’s fifth largest miner.

RSS attacks Chidambaram’s ‘saffron terror’ remarks

The “saffron terror” remark made by Home Minister P Chidambaram has come under attack from the RSS, which has dubbed it as an attempt to put the majority community in the dock.

Taqa becomes majority owner of Dh2.8b project

ABU DHABI – Abu Dhabi National Energy Company, or Taqa, has become the majority stakeholder of the Bergermeer Gas Storage project, the largest such venture to be built in Europe, after it acquired 24 per cent shares in the venture from two energy firms – Dyas B.V and Petro-Canada Netherlands B.V.

Half of Web Users See the Google Logo Every 9 Minutes

The majority of web users see the Google logo every nine minutes during the working day, says MyVoucherCodes.

Taqa shares gain on Dutch Gas project majority

The Abu Dhabi stock market index ADX General dipped 0.28% at 2,495.80 points. UAE heavyweights Aldar Properties (off 0.90% at Dhs2.20) and Etisalat (down half a percent at Dhs10.00) weighed on the sentiment. Shares of Abu Dhabi National Energy Co. (up 0.84% at Dhs1.19) gained against the trend. The UAE’s largest oil and gas firm, dubbed Taqa, announced today that it has signed an agreement for the transfer of a 24% stake in the Bergermeer Gas Storage project previously owned by Dyas B. and Petro-Canada Netherlands to Taqa. In case the government in The Hague approves, Taqa’s equity in the project will in increase from 36% to 60%.

Chiru to hardsell social justice plank

The first-ever two-day plenary of Prajarajyam gets underway in the port city of Visakhapatnam on Wednesday even as its president K Chiranjeevi scouts for answers to convince the majority backward classes in his party of the ‘social justice’ (Samajika nyayam) plank on which the party was launched two years back.

US under 50,000 – Iraqis ‘down’ on drawdown

BAGHDAD, Aug 24, (Agencies): A majority of Iraqis believe it was the wrong time for a major withdrawal of US combat troops, a poll said on Tuesday, with more than half also warning that it would have negative consequences.

When asked if it was …

No takers for MCA course

Hyderabad, Aug. 23: A major crisis is looming in MCA colleges in the state with few takers for MCA course in the ongoing Icet-2010 counselling. Officials expect several MCA colleges to close down this year due to the poor response from students.

Icet-qualified students are eligible to opt for the MBA and MCA courses and a majority of the 1.63 lakh qualified students this year are opting for th

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Aussie dollar recovers as euro falters (at Financial Times)

The Australian dollar recovered from early losses on Monday as traders shrugged off news that neither of Australia s leading parties won an overall majority in the weekend s general election.

ONGC-OIL-GAIL may bid to counter Vedanta’s offer for Cairn

State-owned ONGC, OIL and GAIL may make a joint bid to counter Vedanta Resources’ $ 8.48 billion offer for majority stake in Cairn India, and have already got $ 10 billion in loan commitments from international banks for the move.

Thefts bad, police’s attitude worse, say victims

Most victims of chain snatchers claim they find it difficult to lodge a complaint with the police. A majority of the women said instead of making any efforts to catch the culprits, the police scare complainants away.

Govt wants ONGC to take a bite of Cairn India pie

London-based Vedanta Resources’ proposed acquisition of a majority stake in Cairn India may be scuppered by India’s petroleum ministry, which wants state-owned Oil and Natural Gas Corp a chance to buy the holding, the Mint newspaper reported on Monday.
 

Gillard confident of forming new government; approaches independents

With none of the major parties securing simple majority in the cliffhanger Australian general election, the Prime Minister, Ms Julia Gillard, on Sunday sought to assure countrymen that she would deliver “stable and effective” government, amid hectic efforts to cobble up a coalition.

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ENRC buys majority of Kolwezi, Congo assets

LONDON – Kazakh mining group ENRC has agreed to pay $175 million for a majority stake in a company that has licences for copper assets in Congo, including a permit revoked from Canada’s First Quantum Minerals.

Australian officials tip hung parliament in knife-edge polls

Australia was on Saturday facing the prospect of its first hung parliament in 70 years, party offcials said, as Prime Minister Julia Gillard edged ahead in vote counting for knife-edge polls. With 76 seats needed for victory, Gillard’s Labor party had secured 71 against 66 for Tony Abbott’s conservative Liberal/National coalition, after 58 percent of votes had been counted, according to public broadcaster ABC.

But officials on both sides said a hung parliament — Australia’s first since 1940 — was looking “likely” with neither side appearing set for an outright majority in the 150-seat lower house. “I think a hung parliament is looking more and more likely,” Liberal Senator Nick Minchin told ABC, as results poured in from across the nation. “I can’t yet find the 17 (seat swing) needed by the Coalition. I’ve got a net gain of 15 for the Liberal Party at the moment.” The sentiment was endorsed by both Foreign Minister Stephen Smith and Shadow Treasurer Joe Hockey, who called a hung parliament the “most likely result”.

The Australian Electoral Commission’s tally, which lagged behind the state broadcaster, put the government ahead 59 seats to 49 with 55 percent of the vote counted. Two separate television exit polls conducted before polling closed predicted Gillard’s party would win by 51 or 52 percent of the vote to the coalition’s 48 or 49, but indicated dangerous swings against Labor in key marginal seats. Early results indeed showed swings against Labor in the battleground states of Queensland and New South Wales, but stronger support for the Greens, which favours the ruling party under Australia’s complex preferences system.

Gillard, Australia’s first woman prime minister, ran a campaign riddled with problems and overshadowed by anger over her shock ousting of elected leader Kevin Rudd in June, with the backing of factional chiefs. “This is a tough, tight, close contest, but I’m exercising my own vote,” Gillard said earlier as she cast her ballot in Melbourne.

Around 14 million electors took part in a mandatory vote for the lower house and half the 76-seat Senate, with experts and opinion polls saying the outcome was too close to call.

Gillard, 48, a red-headed former lawyer who was born in Wales, has pledged better education and healthcare and played up Labor’s role in helping Australia shrug off the financial crisis, as well as a planned national broadband scheme.

Abbott, a 52-year-old religious conservative who has doubts about mankind’s role in climate change, has targeted fears over illegal immigration and questioned Labor’s spending record, as well as Gillard’s knifing of Rudd. “This is a big day for our country,” Liberal/National coalition leader Abbott said as he cast his vote in Sydney.

“It’s a day when we can vote out a bad government.” The right-leaning coalition needs a uniform swing of 2.3 percent to return to power less than three years after Rudd ousted 11.5-year prime minister John Howard, pledging action on climate change and impoverished Aborigines.

Victory for Abbott would make Labor the first one-term government since 1932, when the party’s James Scullin lost power during turmoil caused by the Great Depression.

Such a defeat would be an ironic end to a government that won international praise for its handling of the global financial crisis, from which Australia emerged stronger than any other Western economy. Both sides are targeting marginal seats in resource-rich Queensland — Rudd’s home state — and western Sydney, where rapid population growth has put pressure on services and raised concerns about immigration. But Labor’s tenure could be saved by Australia’s complex proportional representation electoral system that allows voters to pick their party and also list their second and subsequent choices in order of preference.

If voters disillusioned with Labor trump for the Greens, as many analysts expect, but preference Labor, those votes may be redistributed to the ruling party under a deal between the parties, possibly nudging it over the line.

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