Today's Hot Stories - December 17, 2012
10 Headlines for Today
(1) Pak never arrested Saeed for 26/11 attacks: Shinde
(2) Extortion bid case: Zee editors get bail
(3) Shinzo Abe to be Japan premier after party wins landslide
(4) Amway India unit to get uninterrupted power supply
(5) Marginal rise in advance tax payments by Mumbai firms
(6) GMR seeks $800 million in damages, Male insists on forensic audit
(7) England deserved to win: Dhoni
(8) Olympian Shanmugam is no more
(9) Tennis: Tipsarevic exudes confidence
(10) Scientists develop ‘rear-view mirror’ to spot bowel cancer
5 Stories for Today
(1) Steps on for early conviction of culprits in granite scam: Jayalalithaa
(2) Chavez allies sweep Venezuela gubernatorial vote
(3) Look at recruitment process outsourcing, India Inc told
(4) Suzlon wins 105 MW order in Canada
(5) Govt lowers growth projection for current fiscal to 5.7%
(1) Steps on for early conviction of culprits in granite scam: Jayalalithaa
Tamil Nadu Chief Minister Jayalalithaa on Monday said her government was taking steps for “early conviction of culprits” in the illegal granite quarrying scam, in which Union Minister M.K. Alagiri’s son Durai Dayanidhi is an accused.
The Chief Minister, whose government had acted against land grabbing complaints which saw many opposition DMK leaders including former Ministers being arrested, said over Rs. 830 crore worth land had been returned to the rightful owners during her 19-month rule.
“I am happy to inform you that so far 1,627 cases have been registered and properties worth Rs 835.94 crore have been returned to the rightful owners,” she said in her inaugural address at the Conference of District Collectors and Police officers in Chennai.
Ms. Jayalalithaa also promised proper action as regards the illegal granite quarrying case, in which connection Mr. Dayanidhi was given anticipatory bail last week.
“In a similar fashion, granite valued at Rs 4,000 crore, that was found to have been illegally mined is being confiscated. Further, in cases where granite was mined and sold off illegally, action is being pursued for attachment of properties equivalent to about Rs 9,783 crore and for securing an early conviction for the culprits,” she said.
The granite scam came to light following a report by former Madurai District Collector U Sagayam who submitted a report, after a probe, to the government, stating that illegal quarrying had cost the exchequer over Rs 16,000 crore loss.
Mr. Dayanidhi and 14 others got bail in the scam, in which owners of various granite firms, including Olympus Granites in which he is a partner, had been named as accused.
Ms. Jayalalithaa said police administration had been “freed from interference,” making it possible for them to unearth “many other cases of crime of a grave nature.”
On the vexed issue of attacks on Indian fishermen hailing from the state allegedly by the Sri Lankan navy, Ms. Jayalalithaa said they have come down following her government taking up the matter with the Centre.
“Attacks on our fishermen by the Sri Lankan Navy, still continue though they have been subdued greatly thanks to the persistent and powerful protests made to the Government of India by my Government. It is, however, a matter of great satisfaction that unlike in the past, when the precious lives of many fishermen were lost, not a single fishermen has died on account of this problem in 2012,” she said.
Same level of vigil and control should be maintained with regard to our territorial waters, the chief minister emphasised.
Ms. Jayalalithaa, who placed high priority on maintaining law and order in the state, asked officials to take recourse to the preventive sections of law to bring down the incidence of crime.
“The District Collectors and the Superintendents of Police should apply the relevant sections of the Criminal Procedure Code in a more effective manner than has historically been seen,” she said, adding, this will instil a greater sense of confidence and security in the minds of law abiding citizens and fear among those intending to “commit evil.”
She commended the overall law and order situation when she said there were no major issues threatening public stability even as she noted that Left-wing extremism and religious fundamentalism have not been allowed.
(2) Chavez allies sweep Venezuela gubernatorial vote
Allies of President Hugo Chavez won a sweeping victory in the country’s gubernatorial elections Sunday, capturing at least 19 of 23 states, the country’s electoral chief said.
Opposition leader Henrique Capriles held on for a re-election win in Miranda state, one of three opposition candidates who had won according to the preliminary results.
Going into the vote, the opposition had held the governorships in eight states, and it lost in five of those states according to the results announced by National Electoral Council President Tibisay Lucena.
Jorge Rodriguez, campaign manager for the pro-Chavez camp, hailed the victory saying it represented “the map painted red” the colour of Mr. Chavez’s socialist party.
(3) Look at recruitment process outsourcing, India Inc told
Post 2007-08 global financial crisis, the context has changed. With it, the skills required of a HR professional too have changed. “We were not prepared to handle a downturn,” E. Balaji, Managing Director and CEO of Randstad, said. Dark clouds were still on the horizon, he said. “With such strong head winds, the need is to find out whether HR is equipped to handle the associated factors such as cost cutting, lay-off and demands of the CEO,” he said participating in a panel discussion at The Hindu Shine HR Conclave in Chennai on Friday.
Besides serving as a networking forum, the event turned the spotlight on a host of issues confronting professionals in the backdrop of the economic slowdown, growing demands of management and a never-before need to retain talent.
Cautioning against a cut and paste strategy as all corporates were not the same, Mr. Balaji said companies should consider recruitment process outsourcing (RPO). Though a large pool of talent was available, not many passed when put through a funnel, he pointed out. Rajeev Bhatnagar, Vice-President and Head-HR, Larsen & Toubro, said RPO should be looked at more as a tool for developing own competencies.
A major challenge for companies engaged in research and development work, according to Arokia Sagayaraj, Head-HR, Renault Nissan Technology & Business Centre India P Ltd., was talent acquisition, and it was only going to get bigger.
Moderating the discussion, Sandeep Bhushan, Vice-President, HT Media, said HR had come to be an important component of business. Lot had changed from one of lack of opportunities to lack of talent, and from IR (industrial relations) to employer branding. It was increasingly required to contribute to the bottom line in a direct manner, necessitating a shift from operation management to the challenging task of talent management.
(4) Suzlon wins 105 MW order in Canada
Suzlon Group subsidiary, REpower Systems SE, announced on Monday it has concluded a contract with wpd Europe GmbH, a subsidiary of project developer wpd AG, for the delivery of 51 wind turbines.
As part of this, a service and maintenance agreement (ISP) for a total of 15 years for the new projects was also concluded, the company said in a statement.
The REpower MM92 turbines, each with a rated power of 2.05 MW, are intended for six projects -- Whittington, Springwood, White Pines, Napier, Sumac Ridge and Fairview -- to be constructed and commissioned in 2014, it said.
In order to serve its growing business presence in Canada and to meet the 50 per cent domestic content requirement of the Green Energy Act, REpower also announced to set up a new rotor blade manufacturing facility in Southern Ontario.
Andreas Nauen, CEO of REpower Systems SE, said: “The 105-MW contract again shows that the cold climate version of our MM92 is very well suited to the conditions on the Canadian wind market. With our announcement of rotor blade production in Ontario, we are expanding our presence in Canada — a wind market with great potential -- even further.”
(5) Govt lowers growth projection for current fiscal to 5.7%
The government on Monday lowered the growth projection for the current financial year to 5.7-5.9 per cent from 7.6 per cent estimated earlier, while pitching for supportive monetary and fiscal policies to improve investor confidence.
“Given ...an emerging scenario, it should be possible for the economy to improve the overall growth rate of GDP to around 5.7 per cent to 5.9 per cent for the year 2012-13”, said the Mid-Year Economic Analysis tabled in Parliament.
The economy, it added, would have to record a growth rate of 6 per cent in second half of the current financial year to reach the desired growth rate. It grew by 5.4 per cent during April-September 2012-13.
The Economic Survey had pegged the growth rate at 7.6 per cent for this fiscal.
To achieve 5.7-5.9 per cent growth, the Analysis said, “both fiscal and monetary policy, however, would need to be supportive to sustain investor confidence. The government will also have to address the concerns relating to structural supply side bottlenecks“.
The economic growth rate during 2011-12 had slipped to the nine-year low of 6.5 per cent due to both domestic and global factors.
Earlier RBI had lowered the growth rate to 5.8 per cent for 2012-13.
Referring to inflation, it said, further moderation in price rise is likely to commence from the fourth quarter of the fiscal.
“Inflation at the end of March 2013 is expected to moderate to 6.8-7 per cent level”, it said.
As regards fiscal deficit, the Analysis said, the government would endeavour to restrict it to 5.3 per cent of GDP as against 5.1 per cent envisaged in the budget.
The Analysis said there “are reasons to believe” that the slowdown has bottomed out and the economy is headed towards higher growth in the second half of the fiscal.
It said agriculture is expected to improve because of better prospects with rabi crops benefiting from greater moisture content in the soil and dominance of irrigated wheat and rice crops.
The document further said that most services, particularly the trade, transport, communication and financial services, being largely driven by the performance of real sectors will also have a better growth.
The Parliament was informed that a fiscal consolidation road map announced by the government on October 29 has “considerably improved business expectations and perception of the domestic and global investors“.
Referring to trade deficit, the document said it is expected that the gap in the current year would not be significantly higher than what it was last year.
“Consequently, it is reasonable to expect that the current account deficit as a ratio of GDP would be lower than what it was in 2011-12,” the Analysis added.
(1) Pak never arrested Saeed for 26/11 attacks: Shinde
(2) Extortion bid case: Zee editors get bail
(3) Shinzo Abe to be Japan premier after party wins landslide
(4) Amway India unit to get uninterrupted power supply
(5) Marginal rise in advance tax payments by Mumbai firms
(6) GMR seeks $800 million in damages, Male insists on forensic audit
(7) England deserved to win: Dhoni
(8) Olympian Shanmugam is no more
(9) Tennis: Tipsarevic exudes confidence
(10) Scientists develop ‘rear-view mirror’ to spot bowel cancer
5 Stories for Today
(1) Steps on for early conviction of culprits in granite scam: Jayalalithaa
(2) Chavez allies sweep Venezuela gubernatorial vote
(3) Look at recruitment process outsourcing, India Inc told
(4) Suzlon wins 105 MW order in Canada
(5) Govt lowers growth projection for current fiscal to 5.7%
(1) Steps on for early conviction of culprits in granite scam: Jayalalithaa
Tamil Nadu Chief Minister Jayalalithaa on Monday said her government was taking steps for “early conviction of culprits” in the illegal granite quarrying scam, in which Union Minister M.K. Alagiri’s son Durai Dayanidhi is an accused.
The Chief Minister, whose government had acted against land grabbing complaints which saw many opposition DMK leaders including former Ministers being arrested, said over Rs. 830 crore worth land had been returned to the rightful owners during her 19-month rule.
“I am happy to inform you that so far 1,627 cases have been registered and properties worth Rs 835.94 crore have been returned to the rightful owners,” she said in her inaugural address at the Conference of District Collectors and Police officers in Chennai.
Ms. Jayalalithaa also promised proper action as regards the illegal granite quarrying case, in which connection Mr. Dayanidhi was given anticipatory bail last week.
“In a similar fashion, granite valued at Rs 4,000 crore, that was found to have been illegally mined is being confiscated. Further, in cases where granite was mined and sold off illegally, action is being pursued for attachment of properties equivalent to about Rs 9,783 crore and for securing an early conviction for the culprits,” she said.
The granite scam came to light following a report by former Madurai District Collector U Sagayam who submitted a report, after a probe, to the government, stating that illegal quarrying had cost the exchequer over Rs 16,000 crore loss.
Mr. Dayanidhi and 14 others got bail in the scam, in which owners of various granite firms, including Olympus Granites in which he is a partner, had been named as accused.
Ms. Jayalalithaa said police administration had been “freed from interference,” making it possible for them to unearth “many other cases of crime of a grave nature.”
On the vexed issue of attacks on Indian fishermen hailing from the state allegedly by the Sri Lankan navy, Ms. Jayalalithaa said they have come down following her government taking up the matter with the Centre.
“Attacks on our fishermen by the Sri Lankan Navy, still continue though they have been subdued greatly thanks to the persistent and powerful protests made to the Government of India by my Government. It is, however, a matter of great satisfaction that unlike in the past, when the precious lives of many fishermen were lost, not a single fishermen has died on account of this problem in 2012,” she said.
Same level of vigil and control should be maintained with regard to our territorial waters, the chief minister emphasised.
Ms. Jayalalithaa, who placed high priority on maintaining law and order in the state, asked officials to take recourse to the preventive sections of law to bring down the incidence of crime.
“The District Collectors and the Superintendents of Police should apply the relevant sections of the Criminal Procedure Code in a more effective manner than has historically been seen,” she said, adding, this will instil a greater sense of confidence and security in the minds of law abiding citizens and fear among those intending to “commit evil.”
She commended the overall law and order situation when she said there were no major issues threatening public stability even as she noted that Left-wing extremism and religious fundamentalism have not been allowed.
(2) Chavez allies sweep Venezuela gubernatorial vote
Allies of President Hugo Chavez won a sweeping victory in the country’s gubernatorial elections Sunday, capturing at least 19 of 23 states, the country’s electoral chief said.
Opposition leader Henrique Capriles held on for a re-election win in Miranda state, one of three opposition candidates who had won according to the preliminary results.
Going into the vote, the opposition had held the governorships in eight states, and it lost in five of those states according to the results announced by National Electoral Council President Tibisay Lucena.
Jorge Rodriguez, campaign manager for the pro-Chavez camp, hailed the victory saying it represented “the map painted red” the colour of Mr. Chavez’s socialist party.
(3) Look at recruitment process outsourcing, India Inc told
Post 2007-08 global financial crisis, the context has changed. With it, the skills required of a HR professional too have changed. “We were not prepared to handle a downturn,” E. Balaji, Managing Director and CEO of Randstad, said. Dark clouds were still on the horizon, he said. “With such strong head winds, the need is to find out whether HR is equipped to handle the associated factors such as cost cutting, lay-off and demands of the CEO,” he said participating in a panel discussion at The Hindu Shine HR Conclave in Chennai on Friday.
Besides serving as a networking forum, the event turned the spotlight on a host of issues confronting professionals in the backdrop of the economic slowdown, growing demands of management and a never-before need to retain talent.
Cautioning against a cut and paste strategy as all corporates were not the same, Mr. Balaji said companies should consider recruitment process outsourcing (RPO). Though a large pool of talent was available, not many passed when put through a funnel, he pointed out. Rajeev Bhatnagar, Vice-President and Head-HR, Larsen & Toubro, said RPO should be looked at more as a tool for developing own competencies.
A major challenge for companies engaged in research and development work, according to Arokia Sagayaraj, Head-HR, Renault Nissan Technology & Business Centre India P Ltd., was talent acquisition, and it was only going to get bigger.
Moderating the discussion, Sandeep Bhushan, Vice-President, HT Media, said HR had come to be an important component of business. Lot had changed from one of lack of opportunities to lack of talent, and from IR (industrial relations) to employer branding. It was increasingly required to contribute to the bottom line in a direct manner, necessitating a shift from operation management to the challenging task of talent management.
(4) Suzlon wins 105 MW order in Canada
Suzlon Group subsidiary, REpower Systems SE, announced on Monday it has concluded a contract with wpd Europe GmbH, a subsidiary of project developer wpd AG, for the delivery of 51 wind turbines.
As part of this, a service and maintenance agreement (ISP) for a total of 15 years for the new projects was also concluded, the company said in a statement.
The REpower MM92 turbines, each with a rated power of 2.05 MW, are intended for six projects -- Whittington, Springwood, White Pines, Napier, Sumac Ridge and Fairview -- to be constructed and commissioned in 2014, it said.
In order to serve its growing business presence in Canada and to meet the 50 per cent domestic content requirement of the Green Energy Act, REpower also announced to set up a new rotor blade manufacturing facility in Southern Ontario.
Andreas Nauen, CEO of REpower Systems SE, said: “The 105-MW contract again shows that the cold climate version of our MM92 is very well suited to the conditions on the Canadian wind market. With our announcement of rotor blade production in Ontario, we are expanding our presence in Canada — a wind market with great potential -- even further.”
(5) Govt lowers growth projection for current fiscal to 5.7%
The government on Monday lowered the growth projection for the current financial year to 5.7-5.9 per cent from 7.6 per cent estimated earlier, while pitching for supportive monetary and fiscal policies to improve investor confidence.
“Given ...an emerging scenario, it should be possible for the economy to improve the overall growth rate of GDP to around 5.7 per cent to 5.9 per cent for the year 2012-13”, said the Mid-Year Economic Analysis tabled in Parliament.
The economy, it added, would have to record a growth rate of 6 per cent in second half of the current financial year to reach the desired growth rate. It grew by 5.4 per cent during April-September 2012-13.
The Economic Survey had pegged the growth rate at 7.6 per cent for this fiscal.
To achieve 5.7-5.9 per cent growth, the Analysis said, “both fiscal and monetary policy, however, would need to be supportive to sustain investor confidence. The government will also have to address the concerns relating to structural supply side bottlenecks“.
The economic growth rate during 2011-12 had slipped to the nine-year low of 6.5 per cent due to both domestic and global factors.
Earlier RBI had lowered the growth rate to 5.8 per cent for 2012-13.
Referring to inflation, it said, further moderation in price rise is likely to commence from the fourth quarter of the fiscal.
“Inflation at the end of March 2013 is expected to moderate to 6.8-7 per cent level”, it said.
As regards fiscal deficit, the Analysis said, the government would endeavour to restrict it to 5.3 per cent of GDP as against 5.1 per cent envisaged in the budget.
The Analysis said there “are reasons to believe” that the slowdown has bottomed out and the economy is headed towards higher growth in the second half of the fiscal.
It said agriculture is expected to improve because of better prospects with rabi crops benefiting from greater moisture content in the soil and dominance of irrigated wheat and rice crops.
The document further said that most services, particularly the trade, transport, communication and financial services, being largely driven by the performance of real sectors will also have a better growth.
The Parliament was informed that a fiscal consolidation road map announced by the government on October 29 has “considerably improved business expectations and perception of the domestic and global investors“.
Referring to trade deficit, the document said it is expected that the gap in the current year would not be significantly higher than what it was last year.
“Consequently, it is reasonable to expect that the current account deficit as a ratio of GDP would be lower than what it was in 2011-12,” the Analysis added.
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