Today's Hot Stories - March 07, 2014
10 Headlines for Today
(1) Police foil Kejriwal plan to meet Modi
(2) BJP ties up with DMDK; Stalin rejects Chidambaram’s overtures
(3) Blizzard pummels northern Japan
(4) Supreme Court to hear Sahara Group proposal
(5) Baggage rules tightened to check gold import
(6) Japan: Bitcoin not a currency but taxable
(7) Five Indian boxers in AIBA top three
(8) Tennis: Cibulkova, Dimitrov win at Mexican Open
(9) Key changes for 2014 Formula One season
(10) Hubble captures giant asteroid’s disintegration
5 Stories for Today
(1) Sedition charge on Kashmiri students dropped
(2) US, EU step up pressure on Russia, Crimea
(3) Number of desi billionaires set to double in 10 years: Report
(4) China: No commercial production of GM staple food
(5) Ficci flays US bid to declare India 'Priority Foreign Country'
(1) Sedition charge on Kashmiri students dropped
Faced with outrage in Jammu and Kashmir and elsewhere, the Uttar Pradesh government on Thursday dropped within hours the sedition charge slapped against a group of Kashmiri students suspended for cheering Pakistan’s win against India in a cricket match.
The UP government informed the Union home ministry, which had sought a report, in the evening that after a review of the charges, it had decided to drop Section 124 A (sedition). The minimum punishment for a sedition offence is three years and the maximum life sentence.
Charges of promoting enmity between different groups and creating mischief, however, stay.
Sedition charge against the students of the Swami Vivekananda Subharti University, Meerut, had evoked sharp reactions in J&K, with chief minister Omar Abdullah going public with his displeasure. “Sedition charge against the Kashmiri students is an unacceptably harsh punishment that will ruin their future and further alienate them,” he tweeted.
What the students did was “wrong and misguided” but they didn’t deserve to be slapped with sedition charge, the CM said. He also spoke to his UP counterpart Akhilesh Yadav who assured that he would look onto the matter personally, Abdullah later tweeted.
The sedition charge was dropped after a preliminary inquiry by the district administration, UP principal secretary (home) Anil Kumar Gupta said. He, however, refused comment on Abdullah’s talk with Yadav.
The authorities had suspended for three days all the 67 Kashmiri students after a group of them cheered Pakistan’s victory over India while watching an Asia Cup match in the university’s community hall on March 2. Some allegedly also shouted “Pakistan Zindabad” while going back to their rooms, triggering tension on the campus.
The university authorities conducted a preliminary inquiry and when some refused to identify those involved in slogan-shouting and celebrations, it suspended all Kashmiri students, asking them to vacate the hostel.
The university said suspension was a “precautionary measure” as there was a lot of resentment against the students for raising pro-Pakistan slogans.
Abdullah, too, had said the university did what it had to control the situation, but insisted the UP government’s move was uncalled for and should be reversed.
The opposition People’s Democratic Party had also demanded that the charge be dropped, saying it exposed the discriminatory attitude against Kashmiri students.
The Aam Aadmi Party, which is set for its poll debut in the border state during the Lok Sabha elections, said it would write to Yadav to ensure that the students were not harassed.
Source: Hindustan Times
(2) US, EU step up pressure on Russia, Crimea
A move by the Crimean authorities to rejoin Russia and go ahead with a referendum on the issue next week was dismissed as illegitimate by the United States on Thursday as the crisis in Ukraine continued.
US President Barack Obama said the referendum scheduled for March 16 in Crimea would violate the Ukrainian constitution and international law.
“Any discussion about the future of Ukraine must include the legitimate government of Ukraine,” Mr. Obama said. “In 2014, we are well beyond the days when borders can be redrawn over the heads of democratic leaders.”
Mr. Obama later spoke with Mr. Putin by telephone for one hour, suggesting direct talks between the governments of Ukraine and Russia as a way to diplomatically resolve the situation, the White House said.
The talks would be facilitated by the international community, a White House statement said. Allowing international monitors into Ukraine and returning Russian forces to their bases would be part of the solution, Mr. Obama told Mr. Putin.
In Rome, Secretary of State John Kerry echoed Mr. Obama’s remarks about the referendum saying that under the Ukrainian constitution, all Ukrainians would have to participate in the referendum in order for it to be legitimate.
Mr. Kerry met with Russian Foreign Minister Sergei Lavrov in Rome, but no agreement was reached, notably on the formation of an international contact group for Ukraine.
Mr. Lavrov was quoted by the Interfax news agency as saying that US visa restrictions and financial sanctions against Russia were “unconstructive.”
Earlier, in Brussels, EU leaders suspended negotiations with Moscow on a new cooperation agreement and a much-desired easing of European visa requirements for Russians.
They also threatened Moscow with asset freezes, travel bans and the cancellation of a June 3 EU-Russia summit if it does not start engaging with Ukrainian authorities.
“Such negotiations need to start within the next few days and produce results within a limited timeframe,” the 28 leaders said in a joint statement.
Source: The Economic Times
(3) Number of desi billionaires set to double in 10 years: Report
The number of ultra-high net worth individuals (UHNWI) in India is expected to double over the next 10 years, rising by 126% in Mumbai and around 118% in Delhi.
With 60 billionaires, India ranks sixth among the top 10 countries for billionaires in 2013. The number is expected to rise to 119 by 2023, according to the 8th edition of global consultancy firm Knight Frank's Wealth Report released on Thursday. Mumbai also retains its position as the 16th most expensive city in the luxury home sector. The survey was based on 600 interviews globally of private bankers and wealth advisers who represent 23,000 UHNWIs worth on an average $ 68 million each and with a combined wealth of over $ 1.5 trillion.
"By 2023, only three countries in the world, the US, China and Russia, will have more billionaires than India," said Samantak Das, chief economist and director research of Knight Frank India. "Wealth creation in India is expected to accelerate with the number of UHNWIs being forecast to nearly double over the next decade," said Shishir Baijal, chairman & MD of Knight Frank India.
The number of ultra-wealthy individuals globally rose by 3% last year despite continued economic turbulence. "The number of UHNWIs in 2023, who have $30 million or more in net assets is set to grow by nearly 30% over the next decade," it said.
New York will overtake London as the most important city for ultra-wealthy by 2024. Three of the top five important cities by that year will be in Asia: Hong Kong, Singapore and Shanghai. The top five global locations for UHNWIs in 2014 are London, New York, Singapore, Hong Kong and Geneva respectively. The report said the number of centa-millionaires (those with $100 million in disposable assets) in India is also projected to grow 99% to 761 in 2023 from 383 last year. The number of billionaires in Asia is also forecast to overtake the number in Europe over the next decade. Asian cities are also expected to see the fastest growth in the number of ultra-wealthy individuals over the next decade.
The latest results from the Wealth Report's prime international residential index show Asian markets led by Jakarta, experienced the biggest price growth in 2013, followed by Auckland, Bali, Christchurch and Dublin. The average price change (2012-2013) in Jakarta was 37.7%.
Source: The Times of India
(4) China: No commercial production of GM staple food
China has not approved commercial production of any genetically modified (GM) staple food, Chinese Minister of Agriculture Han Changfu has said.
“We have been cautious over GM food because we want to make sure that it is safe,” he said at a press conference on Thursday on the sidelines of the annual session of the National People’s Congress.
“The government has never allowed any other GM agricultural products to be planted except cotton and papaya,” Mr. Han said.
China granted bio safety certificates in 2009 to two pest-resistant GM rice varieties and one type of corn, the first country to allow field trials of GM staple foods.
Stating that the country’s GM safety regime remains strict, Mr. Han threatened severe punishment for any unauthorised GM crop sales, planting and field trials.
In China, 90 per cent of soybean oil is made from GM soybeans. Mr. Han said he himself consumes food containing GM ingredients.
“Whether GM food is safe or not should not be decided by departments or individuals, it should be decided by scientists following strict standards and procedures,” he said.
China has set up committees of experts to supervise GM crop safety management.
Source: The Hindu
(5) Ficci flays US bid to declare India 'Priority Foreign Country'
Industry body Ficci has voiced concerns against attempts being made by some American businesses to get India designated as a 'Priority Foreign Country', saying the country's intellectual property eco-system is robust and non-discriminatory.
"The effort being made to declare India as Priority Foreign Country is a unilateral action to create pressure on India to increase IPR protection beyond the TRIPS Agreement and aims to protect private corporate interests over national interests," Ficci said.
Ramping up their anti-India campaign, an influential section of American businesses, in particular those from the pharma and manufacturing sectors, last month urged the Barack Obama Administration to designate India as a Priority Foreign Country.
A Priority Foreign Country is a status reserved for those nations that are the most egregious violators of IP rights and have the most negative impact on US competitiveness.
"The fact that a number of cases are being appealed or being invalidated by the Indian courts only shows the robustness of the Indian intellectual property eco-system.
"There has been no concerted effort by the Indian system discriminating foreign companies and a number of Indian patents have also been invalidated," Ficci pointed out.
These corporates have alleged that India's trade practices are discriminatory and have failed to adequately protect and enforce intellectual property (IP).
Source: The Indian Express
Disclaimer: All news stories and content sourced from freely available material on the internet. All sources are acknowledged.
10 Headlines for Today
(1) Police foil Kejriwal plan to meet Modi
(2) BJP ties up with DMDK; Stalin rejects Chidambaram’s overtures
(3) Blizzard pummels northern Japan
(4) Supreme Court to hear Sahara Group proposal
(5) Baggage rules tightened to check gold import
(6) Japan: Bitcoin not a currency but taxable
(7) Five Indian boxers in AIBA top three
(8) Tennis: Cibulkova, Dimitrov win at Mexican Open
(9) Key changes for 2014 Formula One season
(10) Hubble captures giant asteroid’s disintegration
5 Stories for Today
(1) Sedition charge on Kashmiri students dropped
(2) US, EU step up pressure on Russia, Crimea
(3) Number of desi billionaires set to double in 10 years: Report
(4) China: No commercial production of GM staple food
(5) Ficci flays US bid to declare India 'Priority Foreign Country'
(1) Sedition charge on Kashmiri students dropped
Faced with outrage in Jammu and Kashmir and elsewhere, the Uttar Pradesh government on Thursday dropped within hours the sedition charge slapped against a group of Kashmiri students suspended for cheering Pakistan’s win against India in a cricket match.
The UP government informed the Union home ministry, which had sought a report, in the evening that after a review of the charges, it had decided to drop Section 124 A (sedition). The minimum punishment for a sedition offence is three years and the maximum life sentence.
Charges of promoting enmity between different groups and creating mischief, however, stay.
Sedition charge against the students of the Swami Vivekananda Subharti University, Meerut, had evoked sharp reactions in J&K, with chief minister Omar Abdullah going public with his displeasure. “Sedition charge against the Kashmiri students is an unacceptably harsh punishment that will ruin their future and further alienate them,” he tweeted.
What the students did was “wrong and misguided” but they didn’t deserve to be slapped with sedition charge, the CM said. He also spoke to his UP counterpart Akhilesh Yadav who assured that he would look onto the matter personally, Abdullah later tweeted.
The sedition charge was dropped after a preliminary inquiry by the district administration, UP principal secretary (home) Anil Kumar Gupta said. He, however, refused comment on Abdullah’s talk with Yadav.
The authorities had suspended for three days all the 67 Kashmiri students after a group of them cheered Pakistan’s victory over India while watching an Asia Cup match in the university’s community hall on March 2. Some allegedly also shouted “Pakistan Zindabad” while going back to their rooms, triggering tension on the campus.
The university authorities conducted a preliminary inquiry and when some refused to identify those involved in slogan-shouting and celebrations, it suspended all Kashmiri students, asking them to vacate the hostel.
The university said suspension was a “precautionary measure” as there was a lot of resentment against the students for raising pro-Pakistan slogans.
Abdullah, too, had said the university did what it had to control the situation, but insisted the UP government’s move was uncalled for and should be reversed.
The opposition People’s Democratic Party had also demanded that the charge be dropped, saying it exposed the discriminatory attitude against Kashmiri students.
The Aam Aadmi Party, which is set for its poll debut in the border state during the Lok Sabha elections, said it would write to Yadav to ensure that the students were not harassed.
Source: Hindustan Times
(2) US, EU step up pressure on Russia, Crimea
A move by the Crimean authorities to rejoin Russia and go ahead with a referendum on the issue next week was dismissed as illegitimate by the United States on Thursday as the crisis in Ukraine continued.
US President Barack Obama said the referendum scheduled for March 16 in Crimea would violate the Ukrainian constitution and international law.
“Any discussion about the future of Ukraine must include the legitimate government of Ukraine,” Mr. Obama said. “In 2014, we are well beyond the days when borders can be redrawn over the heads of democratic leaders.”
Mr. Obama later spoke with Mr. Putin by telephone for one hour, suggesting direct talks between the governments of Ukraine and Russia as a way to diplomatically resolve the situation, the White House said.
The talks would be facilitated by the international community, a White House statement said. Allowing international monitors into Ukraine and returning Russian forces to their bases would be part of the solution, Mr. Obama told Mr. Putin.
In Rome, Secretary of State John Kerry echoed Mr. Obama’s remarks about the referendum saying that under the Ukrainian constitution, all Ukrainians would have to participate in the referendum in order for it to be legitimate.
Mr. Kerry met with Russian Foreign Minister Sergei Lavrov in Rome, but no agreement was reached, notably on the formation of an international contact group for Ukraine.
Mr. Lavrov was quoted by the Interfax news agency as saying that US visa restrictions and financial sanctions against Russia were “unconstructive.”
Earlier, in Brussels, EU leaders suspended negotiations with Moscow on a new cooperation agreement and a much-desired easing of European visa requirements for Russians.
They also threatened Moscow with asset freezes, travel bans and the cancellation of a June 3 EU-Russia summit if it does not start engaging with Ukrainian authorities.
“Such negotiations need to start within the next few days and produce results within a limited timeframe,” the 28 leaders said in a joint statement.
Source: The Economic Times
(3) Number of desi billionaires set to double in 10 years: Report
The number of ultra-high net worth individuals (UHNWI) in India is expected to double over the next 10 years, rising by 126% in Mumbai and around 118% in Delhi.
With 60 billionaires, India ranks sixth among the top 10 countries for billionaires in 2013. The number is expected to rise to 119 by 2023, according to the 8th edition of global consultancy firm Knight Frank's Wealth Report released on Thursday. Mumbai also retains its position as the 16th most expensive city in the luxury home sector. The survey was based on 600 interviews globally of private bankers and wealth advisers who represent 23,000 UHNWIs worth on an average $ 68 million each and with a combined wealth of over $ 1.5 trillion.
"By 2023, only three countries in the world, the US, China and Russia, will have more billionaires than India," said Samantak Das, chief economist and director research of Knight Frank India. "Wealth creation in India is expected to accelerate with the number of UHNWIs being forecast to nearly double over the next decade," said Shishir Baijal, chairman & MD of Knight Frank India.
The number of ultra-wealthy individuals globally rose by 3% last year despite continued economic turbulence. "The number of UHNWIs in 2023, who have $30 million or more in net assets is set to grow by nearly 30% over the next decade," it said.
New York will overtake London as the most important city for ultra-wealthy by 2024. Three of the top five important cities by that year will be in Asia: Hong Kong, Singapore and Shanghai. The top five global locations for UHNWIs in 2014 are London, New York, Singapore, Hong Kong and Geneva respectively. The report said the number of centa-millionaires (those with $100 million in disposable assets) in India is also projected to grow 99% to 761 in 2023 from 383 last year. The number of billionaires in Asia is also forecast to overtake the number in Europe over the next decade. Asian cities are also expected to see the fastest growth in the number of ultra-wealthy individuals over the next decade.
The latest results from the Wealth Report's prime international residential index show Asian markets led by Jakarta, experienced the biggest price growth in 2013, followed by Auckland, Bali, Christchurch and Dublin. The average price change (2012-2013) in Jakarta was 37.7%.
Source: The Times of India
(4) China: No commercial production of GM staple food
China has not approved commercial production of any genetically modified (GM) staple food, Chinese Minister of Agriculture Han Changfu has said.
“We have been cautious over GM food because we want to make sure that it is safe,” he said at a press conference on Thursday on the sidelines of the annual session of the National People’s Congress.
“The government has never allowed any other GM agricultural products to be planted except cotton and papaya,” Mr. Han said.
China granted bio safety certificates in 2009 to two pest-resistant GM rice varieties and one type of corn, the first country to allow field trials of GM staple foods.
Stating that the country’s GM safety regime remains strict, Mr. Han threatened severe punishment for any unauthorised GM crop sales, planting and field trials.
In China, 90 per cent of soybean oil is made from GM soybeans. Mr. Han said he himself consumes food containing GM ingredients.
“Whether GM food is safe or not should not be decided by departments or individuals, it should be decided by scientists following strict standards and procedures,” he said.
China has set up committees of experts to supervise GM crop safety management.
Source: The Hindu
(5) Ficci flays US bid to declare India 'Priority Foreign Country'
Industry body Ficci has voiced concerns against attempts being made by some American businesses to get India designated as a 'Priority Foreign Country', saying the country's intellectual property eco-system is robust and non-discriminatory.
"The effort being made to declare India as Priority Foreign Country is a unilateral action to create pressure on India to increase IPR protection beyond the TRIPS Agreement and aims to protect private corporate interests over national interests," Ficci said.
Ramping up their anti-India campaign, an influential section of American businesses, in particular those from the pharma and manufacturing sectors, last month urged the Barack Obama Administration to designate India as a Priority Foreign Country.
A Priority Foreign Country is a status reserved for those nations that are the most egregious violators of IP rights and have the most negative impact on US competitiveness.
"The fact that a number of cases are being appealed or being invalidated by the Indian courts only shows the robustness of the Indian intellectual property eco-system.
"There has been no concerted effort by the Indian system discriminating foreign companies and a number of Indian patents have also been invalidated," Ficci pointed out.
These corporates have alleged that India's trade practices are discriminatory and have failed to adequately protect and enforce intellectual property (IP).
Source: The Indian Express
Disclaimer: All news stories and content sourced from freely available material on the internet. All sources are acknowledged.
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