Government proposes Kamal Nath's name to the President as Protem Speaker

Briefing reporters in New Delhi today, after assuming the charge of Parliamentary Affairs Ministry, Venkiah Naidu said that Congress leader Kamal Nath's name has been recommended as the Protem Speaker by the Government to President Pranab Mukherjee.

He said: "Senior Lok Sabha member and former parliamentary affairs minister, Kamal Nath will be the Protem Speaker to conduct the oath-taking ceremony of the newly elected MPs. Mr Nath will be assisted by four other senior members of the 16th Lok Sabha."

The Parliamentary Affairs Minister said that the Union Cabinet at its meeting this evening is likely to decide on the date for convening the opening session of Parliament...

Source: News in Hindi & News Videos Online

From aninews News

What is Russia's security plan for Sochi Olympics? (+video)

From toothpaste bomb warnings to ‘black widows,’ the run-up to the Sochi Olympics has been fraught with more security concerns than any other Games in recent memory.

The 22nd Winter Games also have the largest security operation in Olympic history, with Russian authorities pledging that threats from its restive Caucasus region will not disrupt the world’s premier sporting event.

When the International Olympic Committee awarded the Games to Russia seven years ago, separatist groups in the Caucasus appeared to be under control and the committee was dazzled by President Vladimir Putin’s personal pledge for a safe and well-funded Winter Olympics. The event would be the first Winter Games the nation had hosted and a symbol of the new Russia.

Fast-forward to today, and threats against the Games by Islamic separatist groups from the Caucasus, two suicide bombings in Volgograd last month, and security warnings from the US Department of Homeland Security and the State Department have some athletes, parents, and fans feeling jittery. Russian officials counter that security concerns are overhyped – saying the most restive areas are at least 400 miles away – and will start to dissipate as competition begins.

Here’s a look at just what kind of security Russia has put in place, from “alpha” anti-terrorist squads to sonar equipment and drones.

Source: News in Hindi

From Csmonitor News

Vatican slammed in scathing UN report over child sex abuse

Vatican city: In a scalding critique of Vatican, a UN panel report has condemned the church policies which allowed the clergymen to indulge in sexual abuse of children and called for immediate dismissal of all those priests who had committed or were suspected of the crime.

Lambasting the Holy See for its “code of silence”, the UN committee has also recommended the Vatican to investigate all the sex abuse claims by opening the archive of files on those who had concealed their crimes.

The report by the UN watchdog for children rights - United Nations Committee on the Rights of the Child (CRC) has also slammed the Vatican's views on homosexuality, gender equality and contraception, and abortion.

“The Holy See has not acknowledged the extent of the crimes committed, has not taken the necessary measures to address cases of child sexual abuse and to protect children, and has adopted policies and practices which have led to the continuation of the abuse by, and the impunity of, the perpetrators,” reads the UN report.

Slamming the church for giving more priority to protecting the priests rather than children's safety, the UN has urged the Vatican to “immediately abide by the committee’s recommendations, hand over all its records and immediately put in place a policy of mandatory reporting of sexual crimes”.

Responding to the report, the Vatican said that it would go through the report and that it was committed to defending and protecting children’s rights.

However, on the UN committee’s criticism of the church's ideological views, the Vatican said that the agency was trying to interfer with its teachings and that it was “not negotiable”.

The damning report comes after the Vatican had refused a request by the UN Committee on the Rights of the Child (CRC) for data on abuse.

The Vatican had then said that it could release such information only if requested to do so by another country as part of legal proceedings.

In December last year, Pope Francis had set up announced setting up of a Vatican committee to investigate sexual abuse of children.

Source: News in Hindi

From Z News

Syria misses chemical arms deadline

 Syria has given up "less than 5%" of its chemical weapons arsenal, missing yesterday's (Wednesday's) deadline for destroying stock and provoking accusations from Britain and the US that it was deliberately spinning out the process.

  
Syria has given up "less than 5%" of its chemical weapons arsenal, missing yesterday's (Wednesday's) deadline for destroying stock and provoking accusations from Britain and the US that it was deliberately spinning out the process.

David Cameron warned Damascus against dragging its heels. The Prime Minister told Parliament: "There do seem to be now indications that the programme is slowing and that not all the information necessary is forthcoming. Britain will continue to put pressure on all parties to make sure the chemical weapons are produced and destroyed."

Syria agreed to the US-Russia brokered deal to give up its chemical weapons arsenal as a deterrent to American military intervention after a suspected sarin gas attack killed more than 1,000 people in Damascus last August.

According to the agreement, Syria was required to turn its "category two", lower grade chemicals to the Organisation for the Prohibition of Chemical Weapons (OPCW), the international watchdog, for destruction by yesterday. However, it has failed to do so and is six to eight weeks behind schedule for the removal of its entire arsenal. Almost 1,200 tons of chemicals were scheduled to have been removed by ship by yesterday, with the entire stockpile of about 1,300 tons of toxic agents removed by the end of June.

Only a fraction of that has been removed, in the form of two shipments this month from Latakia port, that makes up only 4.1% of the total, according to the US State Department.

The Syrian government has said it needs further support, in the form of armoured vehicles and communications equipment, to complete the task.

Source: Latest Hindi News

From DNA News

Rwandan war crimes finally on trial in France

The first Rwandan genocide war crime trial to be judged in France is finally under way. Twenty years on, former intelligence chief Pascal Simbikangwa, now aged 54, is accused of inciting, organising and aiding massacres, supplying arms and giving instructions to militia who were killing Tutsi men, women and children. Simbikangwa denies the charges against him.

Jean Simon, a civil plaintiff lawyer with the NGO activist group ‘Survie’ said: “Our only regret is that this comes 20 years afterwards. On the other hand, it will make a difference, even now, because we think this has to be talked about, so those acts are never forgotten, so they are never passed over.”

The roughly three-month genocide in 1994 followed mounting tensions between the ethnic Tutsi minority and the majority Hutus, after the Rwandan President Juvenal Habyarimana, a Hutu, was killed when his plane was shot down.

It served as a trigger. Civil parties today say Simbikangwa urged reprisals. Estimates of the number slaughtered range between 500,000 and one million people — this organised by the government, across the country. International troops escorted Europeans out while Tutsis were being executed and were left unprotected. Moderate Hutus were also caught in the violence. France, with close military ties, was accused of failing to rein in the Rwandan regime.

The European Court of Human Rights fined France ten years ago for dragging its heels on war crime cases filed since 1995. Just two years ago, France created a special genocide investigation unit. It has studied some 20 legal complaints against alleged perpetrators.

The United Nations International Criminal Tribunal for Rwanda has also investigated the systematic rape of Tutsi women among the some 100 cases of crimes against humanity judged. Among its 65 convictions, one was of Rwanda’s prime minister in 1994. In Simbikangwa’s trial, the prosecution is expected to call more than 50 people to give evidence in Paris.

After a freeze, French President François Hollande wants to normalise ties with Rwanda, viewed as crucial for maintaining stability in the region. Today, a Rwandan peacekeeping force is deployed in the Central African Republic, which also risks rising sectarian violence.

Source: Hindi News

From Euro News

Sensex down 196 points after Fed’s decision

Extending losses for the fifth straight session, the benchmark BSE Sensex on Thursday fell over 196 points in early trade on sustained selling by funds after the US Federal Reserve decided to further taper its monetary stimulus programme.

Besides, monthly expiry in the derivatives segment also weighed on the sentiment.

The 30-share barometer, which had lost over 726 points in the past four sessions, fell further by 196.27 points, or 0.95 per cent, to 20,451.03.

All the sectoral indices were trading in negative zone, led by consumer durables, realty and banking.

Similarly, the wide-based National Stock Exchange index Nifty fell by 52.50 points, or 0.86 per cent, to 6,067.50.

Brokers said a weak trend in Asian trade sparked by emerging markets turmoil coupled with the Federal Reserve deciding to further cut its monetary stimulus by $ 10 billion to $ 65 billion dampened the trading sentiment here.

They said participants adopted a cautious approach keeping in view the monthly expiry in the derivatives segments.

In the Asian region, Japan’s Nikkei Index tumbled 3.33 per cent, while Hong Kong’s Hang Seng index shed 1.22 per cent in early trade.

The US Dow Jones Industrial Average ended 1.19 per cent down in Wednesday’s trade.  

Source: Latest Business News

From TH News

In Bernanke's final act, Fed cuts stimulus despite market turmoil

The Federal Reserve on Wednesday decided to trim its bond purchases by another $10 billion as it stuck to a plan to wind down its extraordinary economic stimulus despite recent turmoil in emerging markets.

The action was widely expected, although some investors had speculated that the U.S. central bank might put its plans on hold given the jitters overseas.

Fed Chairman Ben Bernanke, who hands the Fed's reins to Vice Chair Janet Yellen on Friday, managed to adjourn his last policy-setting meeting without any dissents from his colleagues. It was the first meeting without a dissent since June 2011 - a sign of how tumultuous Bernanke's tenure has been.

In addition to proceeding with plans to scale back its bond buying, the Fed made no changes to its other main policy plank: its pledge to keep interest rates low for some time to come.

The decision suggests that it would take a serious threat to the U.S. economy before the Fed backs down from a resolve to shelve the asset-purchase program later this year.

Indeed, it offered a somewhat rosier assessment of the U.S. economy's prospects than it did last month, saying "economic activity picked up in recent quarters." It also largely shook off surprisingly soft jobs growth in December. "Labor market indicators were mixed but on balance showed further improvement," it said.

"They really want to move to the sidelines here and get out of the (bond buying) business," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago.

All 17 top Wall Street economists polled by Reuters on Wednesday expect the Fed to wind the program down by year's end, and nearly all believe the Fed won't raise rates until at least the third quarter of 2015.

Major U.S. stock indexes closed down more than 1 percent, while yields on the benchmark 10-year Treasury note hit the lowest level since late October. The dollar rose against the euro but was little changed against a broad basket of currencies. Read more..

Source: Business News India

From BS News

Rupee strengthens further against dollar, up 37 paise

The Indian rupee strengthened further by 37 paise to 62.14 against the American currency in the late morning trade on persistent selling of dollars by banks and exporters.

This was on hopes of resumption of foreign capital inflows in view of firm equity market amid lower dollar overseas.

The rupee resumed higher at 62.28 per dollar as against the last closing level of 62.51 per dollar at the Interbank Foreign Exchange (Forex) Market and firmed up further to a high of 62.11 before quoting at 62.14 per dollar at 1045 hrs.

Source: Latest Business News

From TOI News

India's ICICI Bank posts slowest quarterly growth in four years

India's ICICI Bank Ltd posted its slowest quarterly profit growth in four years as the ability of corporate borrowers to repay loans declined and the amount of funds set aside for bad debt almost doubled.

India's biggest private sector lender, like rivals Yes Bank Ltd, HDFC Bank Ltd and IndusInd Bank Ltd , has had to contend with a wave of defaults by companies struggling to make ends meet as India's economy grows at its slowest pace in a decade.

As a result, banks have increased the proportion of funds they extend to consumers from whom demand for home and car loans in particular has picked up as banks open branches in new territories.

That shift helped ICICI on Wednesday report net profit of 25.3 billion rupees ($404.12 million) in October-December from 22.5 billion a year earlier. That compared with the 24.6 billion rupee mean estimate of 23 analysts polled by Thomson Reuters I/B/E/S.

Net interest income, or the difference between interest earned and paid, rose about 22 percent to 42.6 billion rupees.

Tax expense rose 45 percent to 12.1 billion rupees, hurting profit growth.Read more..

Source: Business News Hindi

From Reuters News

3,000kg of gold being smuggled in a month: Chidambaram

 

Finance minister P Chidambaram on Monday acknowledged a spurt in gold smuggling in the wake of higher duties and other curbs on the import of the yellow metal into the country. While estimating illegal shipments of up to 3,000kg in certain months — a record by all accounts — the minister justified the restrictions, citing high current account deficit (CAD) but indicated that some of the tightening may be eased in the next few months.

The government had increased customs duty on gold to 10 per cent and later RBI imposed import restriction by linking it to exports in an attempt to lower the ballooning CAD which was $88 billion last fiscal. This year, the government hopes to contain CAD at around $50 billion by bringing down gold imports.

The finance minister, who was speaking at the international customs day function here, said a review on the decision to lower duties or remove other restrictions was possible only after March even as he said monthly smuggling of gold was 1-3 tonnes after imposition of the restrictions.

The finance minister, who was speaking at the international customs day function here, said a review on the decision to lower duties or remove other restrictions was possible only after March even as he said monthly smuggling of gold was 1-3 tonnes after imposition of the restrictions. Read more..

Source: Latest Business News

From ET News

Opto Circuits soars 14% on reports that Goldman may buy stake

Opto Circuits surged as much as 14 per cent on Monday on reports that global investment bank Goldman Sachs may acquire a 26 per cent stake in the Bangalore-based company, which manufactures medical equipment maker. According to media reports the deal is valued at Rs. 300 crore.

As of 09.55 a.m., Opto Circuits shares traded 11.8 per cent higher at Rs. 34.60 on the BSE. The stock had earlier hit a high of Rs. 35.25. It was the most traded stock on the BSE 500 benchmark. (Track stock)

In contrast, the broader Sensex traded down 1.4 per cent or 296 points at 20,837 amid a global selloff in equities and currencies.  Read more..

Source: Latest Business News

From NDTV News

Indian economy projected to grow at 5.35% in 2014: UN

India's economy is projected to grow at a slower-than-expected rate of 5.3 per cent this year, according to a United Nations report which said the country's slowdown may have bottomed out.

The UN World Economic Situation and Prospects 2014 (WESP) report said a mild recovery in investment as well as stronger export growth will help in the gradual GDP pick-up.

It said the Indian economy, which accounts for over 70 per cent of total output in South Asia, slowed further in 2013.

The growth was held back by weak household consumption and sluggish investment, the report added.

Full-year growth decelerated to 4.8 per cent in 2013 from 5.1 per cent in the calendar year 2012.

It said external conditions continued to be challenging as the Indian economy experienced significant capital outflows, which led to a sharp depreciation of the rupee. Read more..

Source: Business News India

From NDTV News

Srinivasan misses BCCI emergent meet after mother passes away

BCCI President N Srinivasan will not attend the Board's Emergent Meeting today after his mother, Jayalakshmi Narayanaswamy, passed away here.

She was 92 and breathed her last while asleep in the wee hours this morning, family sources said.

The development has forced Srinivasan to skip the BCCI Emergent Meeting, which was to be chaired by him.

In Srinivasan's absence, BCCI vice-president Shivlal Yadav will chair the meeting, the agenda of which was unknown to all the affiliated units of the board.

Even though the agenda is not clear, there is speculation that the meeting might have been called to discuss the scheduling of the seventh Indian Premier League the dates of which haven't been announced.

The IPL clashes with the country's general elections are still not out and there are chances that a few of the matches might be held in neighbouring Sri Lanka.  Read more..

Source: News in Hindi

From BS News