Neo Nazies Swarm the GLOBE!

Tag : religious crafts

Court orders brain mapping, polygraph tests on Malegaon blastaccused
Press Trust of India - ? 3 hours ago ?
Fresh Ne...Nashik, Oct 29 (PTI) A court here today orderedbrain-mapping, narco and polygraphy tests of the two retired armyofficers arrested in connection with Malegaon bomb blast after itwas told by the police that one of them was in touch with sadhviPragya ...
Upadhyay, Kulkarni remanded to police custody till Nov 10 NDTV.com
Ex-armyman arrested in Malegaon blast case Times of India
'Ignore The Polls'
http://in.youtube.com/watch?v=xvRmgO60yyc
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After the fake Encounter now the Uttar Pradesh Migrant is Lynchedin Mumbai. Global ruling Class seems to be in Hurry to DisintegrateIndian nation once again!
Government railway police have registered a case of rioting andmurder against 10 to 12 unknown people a day after a 25-year-oldlabourer from Uttar Pradesh was lynched on a Mumbai local train.This is the result of Globalisation! This is the FACE REAL ofHINDUTVA so patriot and so National! Hindu superpower India, on theother hand,may become a major player in the emerging smallsatellite manufacturing industry. The country’s space agencyhas estimated a market potential of 50 satellites over the nextdecade, worth around $1.5 billion, says a space official.Keepingthis in mind, the Indian Space Research Organisation (ISRO) hasalready formed a special team to manufacture small satellites.Asglobal leaders engage themselves to grapple with the worst economiccrisis since 1929, WTO chief Pascal Lamy wants India, among other emerging economies, on board for a new financial world order.
Over 100 children were on Wednesday taken hostage by militants inPakistan's troubled northwest tribal region bordering Afghanistan. A group of 10 to 12 militants entered a state-run school in DarwazGai area of Mohmand tribal agency after a gun battle with securityforces and took over the premises. Some 100 children were insidethe school, TV channels reported.
The incident shows the Inhuminity as More than 160 people werekilled, scores injured and around 15,000 left homeless as apowerful earthquake jolted southwestern Pakistan ear ly todaydestroying hundreds of mud houses and sending people scurrying ontothe streets in panic! The death toll could mount as Dilawar Kakker,mayor of Ziarat warned as he said that hundreds more were buriedunder the rubble as the quake measuring 6.4 on the Richter scaletriggered landslides and rockfalls on the houses catching thepeople as they were asleep.

"As policy makers go about creating multilateral architecture inareas like international finance...no international agreement onfinance or climate change is possible today without China, India,Brazil and Indonesia on board...," Lamy said in a speech posted onthe WTO website.
While Europe and North America face an economic slowdown, theemerging economies of Brazil, India, Mexico, China, Egypt,Indonesia and South Africa continue to grow, in large measurebecause of trade, he said at Stanford University on Monday.
The fast growing economies are of special interest to the US whereexports are contributing significantly to GDP growth. On anannualised basis, the second quarter export growth and slowingimports were responsible for the US' GDP growth of 2.9 per cent.
meanwhile, the Reserve Bank of India said it will conduct a special14-day repo auction for Rs 11050 crores ($2.2 billion) onWednesday.

The reversal of Wednesday's auction will take place on November 12,it said in a statement. The auction was introduced on October 14,and is being held every day until an allocated 200 billion rupeeshas been used. ($1= 48.8 rupees)
Obama would be the first black president in U.S. history if hedefeats Republican John McCain in the November 4 election. Concernsabout Obama's safety led the Secret Service to provideround-the-clock protection from early in his campaign.About sixpercent of US voters are still undecided in the final sprint of theWhite House race, boosting Republican John McCain hopes he may yetpull off a last-minute election day upset.Obama had a lead of 50.4to 43.1 percent over McCain in RealClearPolitics' weekly average ofpolling data as of October 26 -- with 6.5 percent stilluncommitted.But the gap had tightened to 50.3 to 44.1 percent byOctober 27, with undecided numbers down to 5.5 percent.Last minutedeciders can influence the outcome most of all in toss-up states,where the race is tight.
The Undecided Voters are mostly white as well as Racial! Resurgenceof Nazism and PURE Blood adovocates, supported by Hindutva andZionist Black hatred may kill the lofty Dream of martin Luther Kingeven if US white system is honest enough to protect the life ofBarrack Hussein Obama!Those indecisive Americans are beingfervently wooed by both parties in the final days of a two-yearWhite House battle. What if a Gallup poll released Tuesday, Oct.28, reveals that around the world, Obama is the preferred candidatefor President of the United States! While 27 percent of globalrespondents support the Democratic candidate for president, only 7percent said they support the Republican candidate McCain.BarakObama seems to be especially popular in the the ancient fishingvillage of Obama, Japan. Japanese 'Obama Girls' shout "Yes we can!"during a rally to support Barack Obama.

The Zionists, White Racists and the Hindutva injected life by NeoNazies won`t allow any CHANGE still in so muchdemand!Contradictorily, though the citizens of France, India,Germany and Georgia (the country) cannot vote in the U.S.presidential election, a new Gallup poll shows how they would voteif they could. If the world could vote for the U.S. president,Obama would win by a landslide--though turnout would be quite low.The enslaved balck Untouchable and Indigenous communities worldwidesupports Martin Luther King as well as Barrack Hussein Obama!
The American Neo -Nazi movement started in the streets in themiddle 1980's, in the U.S. The movement is an act to keep alive thebeliefs and actions of Adolf Hitler and his Nazi Regime. Believersand activist in the movement are known as Skinhead, or "Skins."Some are dresses like a lot like the original British movement,which was started by some rough looking teenagers in combat bootshanging out on the streets. The average Skinhead, wears combatboots or Doc Martens, thin red suspenders, and a bomber jacket. Thehair is completely shaven or closely cut to the head. The Skinswear many symbols supporting the movement, such as, swastikassupremacy slogans, and other white power emblems or tattoos.Neo-Nazis believe that to be white is to be right. That the Aryanrace, the whites, are the pure race and that there should be noother ethnic groups or races. Homosexuals, Jews, Hispanics andAfro-Americans are the main targets for this organization. Butthere are others. Any minority......
Ethnic nationalism
From Wikipedia, the free encyclopedia
Ethnic nationalism is a form of nationalism wherein the "nation" isdefined in terms of ethnicity. Whatever specific ethnicity isinvolved, ethnic nationalism always includes some element ofdescent from previous generations. It also includes ideas of aculture shared between members of the group, and with theirancestors, and usually a shared language; however it is differentfrom purely cultural definitions of "the nation" (which allowpeople to become members of a nation by cultural assimilation) anda purely linguistic definitions (which see "the nation" as allspeakers of a specific language).
The central political tenet of ethnic nationalism is that eachethnic group on earth is entitled to self-determination. Theoutcome of this right to self-determination may vary, from callsfor self-regulated administrative bodies within analready-established society, to an autonomous entity separate fromthat society, to a sovereign state removed from that society. Ininternational relations, it also leads to policies and movementsfor irredentism — to claim a common nation based uponethnicity.
In scholarly literature, ethnic nationalism is usually contrastedwith civic nationalism. Ethnic nationalism bases membership of thenation on descent or heredity - often articulated in terms ofcommon blood or kinship - rather than on political membership.Hence, nation-states with strong traditions of ethnic nationalismtend to define nationality or citizenship by jus sanguinis (the lawof blood - i.e. descent from a person of that nationality) whilecountries with strong traditions of civic nationalism tend todefine nationality or citizenship by jus soli (the law of soil -i.e. birth within the nation-state). Ethnic nationalism istherefore seen as exclusive, while civic nationalism tends to beinclusive. Rather than allegiance to common civic ideals, then,ethnic nationalism tends to emphasise shared narratives and commonculture. For example, Germany is often cited as an example ofethnic nationalism; German citizenship is open to "ethnic Germans"(e.g. descendents of Germans living in the former Soviet Union).
The theorist Anthony D. Smith uses the term 'ethnic nationalism'for non-Western concepts of nationalism as opposed to Western viewsof a nation defined by its geographical territory. Diaspora studiesscholars extend this non-geographically bound concept of "nation"among diasporic communities, at times using the term ethnonation orethnonationalism to describe a conceptual collective of dispersedethnics.[1]
A nation-state for the ethnic group derives political legitimacyfrom its status as homeland of that ethnic group, from itsprotective function against colonization, persecution or racism,and from its claim to facilitate the shared cultural and sociallife, which may not have been possible under the ethnic group'sprevious status as an ethnic minority.
Ethnic nationalism has sustained criticism because of its use byextremists to advocate racist agendas and genocide, such as thecase of Nazi Germany and its extermination of millions of Jews andother ethnic and cultural groups during the Holocaust. More recentacts of violence that used ethnic nationalism as a justificationinclude ethnic cleansing such as the Rwandan Genocide in 1994, theSrebrenica massacre in Bosnia and Herzegovina in 1995, andOperation Storm in Croatia in 1995.
http://en.wikipedia.org/wiki/Ethnic_nationalism
White nationalism
From Wikipedia, the free encyclopedia
Jump to: navigation, search
White nationalism is a political ideology which advocates a racialdefinition (or redefinition) of national identity for white people,in opposition to multiculturalism. The contemporary whitenationalist movement in the United States is a reaction to thedecline (based on US census projections) in white demographics,politics and culture.[1] According to Samuel Francis, a key whitenationalist writer, it is "a movement that rejects equality as anideal and insists on an enduring core of human nature transmittedby heredity."[2] Anti-racist organizations generally have arguedthat ideas such as white pride and white nationalism exist merelyto provide a sanitized public face for white supremacy.[3]
The goal of white nationalism is to appeal to a larger audience.Most are nonviolent groups working for separatism.[4]
Supporters see themselves defending the legitimate civil rights ofwhite people against society's alleged racial double standards.[5]Jared Taylor, another key writer in the movement, claims similarracial views were held by many mainstream American leaders beforethe 1950s.[6] Opponents accuse them of hatred, racial bigotry anddestructive identity politics.[1][7]
According to Samuel P. Huntington, the modern movement isincreasingly cultured, intellectual and academically trained.[8]Rather than espouse violence, they use statistics and socialscience data to argue for a self-conscious white identity.[9] Theysay a natural hierarchy should triumph over the "false promise ofegalitarianism"[10] and that the downfall of white dominance spellsdoom for representative government, the rule of law and freedom ofspeech.[11]
Supporters say they stand for racial self-preservation and claimculture itself is a product of race.[12] As a result, according toHuntington, they say the demographic shift in the US towardsnon-whites brings a new culture that is intellectually and morallyinferior.[13] With it comes affirmative action, immigrant ghettosand declining educational standards.[14] By challenging establishedpolicy on immigration, civil rights and racial integration, theyseek to build bridges with moderately conservative whitecitizens.[15]
White separatism and supremacism are two smaller subgroups withinwhite nationalism.[5] The former seek a separate whitenation-state, while the latter add ideas from social Darwinism andNazism to their ideology.[5] Some white nationalists deny they arein either category.[5] Both schools of thought generally avoid theterm "supremacy", saying it has negative connotations.[16]
http://en.wikipedia.org/wiki/White_nationalism
Black nationalism
From Wikipedia, the free encyclopedia
Black nationalism (BN) advocates a racial definition (orredefinition) of black national identity, as opposed tomulticulturalism. There are different black nationalistphilosophies but the principles of all black nationalist ideologiesare 1) black pride, and 2) black economic, political, social and/orcultural independence from white society. Marcus Garvey isconsidered to be the grandfather of black nationalism.
The origins of black nationalism lie in the 19th century withpeople like Henry McNeal Turner, Martin Delany, Henry HighlandGarnet, Edward Wilmot Blyden, Paul Cuffe, etc. The repatriation ofblack American slaves to Liberia or Sierra Leone was a common blacknationalist theme in the 19th century. Marcus Garvey's UniversalNegro Improvement Association of the 1910s and 1920s was the mostpowerful black nationalist movement to date, claiming 11 millionmembers. Although the future of Africa is seen as being central toblack nationalist ambitions, some adherents to black nationalismare intent on the eventual creation of a separate black Americannation in the U.S. or Western hemisphere.
According to Wilson Jeremiah Moses in his famous work ClassicalBlack Nationalism, black nationalism as a philosophy can beexamined from three different periods giving rise to variousideological perspectives for what we can today consider what blacknationalism really is.
The first being pre-Classical black nationalism beginning from thetime the Africans were brought ashore in the Americas to theRevolutionary period. After the Revolutionary War, a sizable numberof Africans in the colonies, particularly in New England andPennsylvania, were literate and had become disgusted with theirsocial conditions that had spawned from Enlightenment ideas. Wefind in such historical personalities as Prince Hall, RichardAllen, and Absalom Jones a need to found certain organizations asthe Free African Society, African Masonic lodges and ChurchInstitutions. These institutions would serve as early foundationsto developing independent and separate organizations. By the timeof Post-Reconstruction Era a new form of black nationalism wasemerging among various African-American clergy circles. Separatecircles had already been established and were accepted byAfrican-Americans because of the overt oppression that had been inexistence since the inception of the United States. This phenomenonled to the birth of modern black nationalism which stressed theneed to separate and build separate communities that promote strongracial pride and also to collectivize resources. This ideology hadbecome the philosophy of groups like the Moorish Science Temple andthe Nation of Islam and the latter Nation of Gods and Earths.Although, the Sixties brought on a heightened period of religious,cultural and political nationalism, black nationalism would laterinfluence afrocentricity .
http://en.wikipedia.org/wiki/Black_nationalism

Asia Pacific region is at a greater risk now as concerns have nowshifted from financial failure to worries about global economicslowdown
and with it the region will be hardest hit as exports are a majorcontributor to the regional output, say a latest Moody report.
"The Asia-Pacific region has escaped relatively unscathed from thefinancial effects of the credit crisis. But the region will notremain immune from its economic effects," Moody's Economy.Com, asubsidiary of Moody's Corporation said in its latest report.
Impact of the global economic slowdown would be so much that amajor slowdown in Asian exports is on the cards later this year andin early 2009, the report added.
"The greatest risk to Asia is not a financial crisis but aneconomic slowdown, considering that exports are such a majorcontributor to regional output," Moody's Economy.Com SeniorEconomist Daniel Melser said.
The recent tumble in global equity markets illustrates that theglobal credit crisis is entering a new phase, Moody's Economy.Comsaid adding that concerns about financial failure are starting toease, but worries about prospects for growth are mushrooming.
How the Ruling Hegemony creats Neo nazies promoting BlindNationalism!
ISRO will launch two such satellites in 2009 and 2010, both havingoverseas payloads!
The earth orbit of India's first lunar spacecraft will be raised to267,000 km on Wednesday, an official here said.

"The Chandrayaan spacecraft, orbiting at a distance of around165,000 km apogee (farthest point from earth) will be raisedWednesday to around 267,000 km. As of now, everything is normal andas per our expectations," Chandrayaan-1 project director M.Annadurai said.
The third orbit-raising was done Oct 26 and the spacecraft wasraised up to 164,600 km, instead of 199,277 km apogee as originallyannounced by the Indian Space Research Organisation (ISRO).
"The important date for us is Nov 3 when the final orbit manoeuvrewill happen. Between Oct 22 and Nov 3 we have the leeway to carryout the orbit raising activity," he said.
On Nov 3, the ISRO will take the spacecraft to 384,000 km apogee.
The subsequent firing of spacecraft motors will take it near thelunar orbit and it is expected to get into lunar orbit Nov 8.
The fact remains the same! Despite the Scientific and Technicalgimmicks , Indian geopolitics stills remains a homeland of SNAKES!
Neo nazies swarm the GLOBE. Not only the ZIONIST, not only theHINDUTVA, all forces of DARKNESS create complete Dark Moon for thesurvival of Human Civilisation on this planet.Reckless borrowingagainst Earth's exhausted bounty is driving the planet toward anecological "credit crunch", the World Wildlife Fund warned onWednesday. Growing demands on natural capital - such as forests,water, soil, air and biodiversity - already outstrip the world'scapacity to renew these resources by a third, according to theWWF's Living Planet Report.

Two white supremacist skinheads were arrested in Tennessee overplans to go on a killing spree and eventually shoot Democraticpresidential candidate Barack Obama, court documents showed onMonday.Daniel Cowart and Paul Schlesselman were charged in acriminal complaint with making threats against a presidentialcandidate, illegal possession of a sawed-off shotgun and conspiracyto rob a gun dealer.The plot did not appear to be very advanced orsophisticated, the court documents showed.The suspects met over theInternet about a month ago, said an affidavit filed by Brian Weaks,a special agent with the Bureau of Alcohol, Tobacco, Firearms andExplosives.
In India, Economic NAZIES led by Chettiar Gang of World bank IMFslaves with FINMIN and RBI continue to Divert National revenuebypassing Parliament and Constitution!
An empowered group of ministers is meeting here on Thursday to finda way of removing anomalies in calculation of tax benefits for ITspec
ial economic zones, which account for bulk of the SEZs approved.
"The issue (relating to Section 10 (AA) of the Income tax Act) willbe discussed by eGom. Ministers will take a decision," CommerceSecretary G K Pillai told reporters here on Wednesday.
Pillai said Section 10 (AA) needs to be amended so that the taxbenefits under the SEZ Act are given without any distortion.
The section provides exemption from income tax to the SEZ units onthe export income. For calculating the exemption, export turnoveris divided by the total turnover of the assessee. But an assesseemay have a unit outside the SEZ as well.
In the absence of change in the law, the IT SEZs promoted by mostof the big groups such as Wipro, TCS, Satyam and Infosys stand tolose. Of the 531 SEZs approved, 320 are IT and ITeS units.
At its last meeting on October 24, the eGom headed by ExternalAffairs Minister Pranab Mukherjee decided to clear Essar's steelSEZ in Hazira and Adani's port SEZ in Mundra. Both the Essar andAdani SEZs were facing objections from the Revenue Department ondifferent counts.
Now RBI relaxes forex derivatives accounting norms to save theMONEY Machine of Corporate imperialism and Brahaminical Hegemony!
The Reserve Bank on Wednesday relaxed the accounting guidelines forvaluing derivatives, a move that will help the Indian banks withoverseas
branches to post better financial results.
"It has now been decided to confine the applicability of theprinciple of borrower-wise asset classification to only theoverdues arising from forward contracts and plain vanilla swap andoptions", the central bank said, while modifying its earliernotification for off-balance sheet exposures of banks.
Under the borrower-wise classification norms, all other fundedfacilities given to a defaulting clients are required to be shownas non-performing assets (NPAs)
Earlier, the RBI had said borrower-wise classification norms willapply to all funded facilities of a client if the receivablesrepresenting mark-to-market value of a derivative contract remainsunpaid for over 90 days.
With the modification of the earlier circular, the unpaid amounttowards foreign exchange derivatives contract entered between April2007 and June 2008 will have to be parked in a separate account inthe same of client.
RBI further said that amount overdue for more than 90 days will notmake other funded facilities provided to the client as NPA as perthe borrower-wise asset classification principle.
Rising overnight interest rates are a matter of concern but theliquidity position in the money market is comfortable now, a seniorfinan ce ministry official said on Wednesday. The official, who didnot wish to be identified, also said short selling of stocks was nolonger a concern as the stock market regulator had taken steps onthe issue. Overnight cash rates rose to a two-week high of 12.75per cent on Wednesday as treasury bill auctions and expectations ofa bigger sale of government securities this week pushed up demandin a holiday-shortened week.
Largest public sector lender State Bank of India today saidinterest rates have peaked and now borrowers could see somesoftening of rates in the coming months mainly due to steps takenby the Reserve Bank and government to infuse liquidity.
Economic times reports:
The additional resources generated by the Union budget willdetermine just how much of the massive dues of fertilisercompanies’ will be
settled in bonds this year. With the financial climate worsening,indications are that any clarity on the bonds from the Centre canonly emerge by November end or even as late as December.
Recent back-of-the-envelope calculations by the fertiliserdepartment indicated that around Rs 14,000 crore of the pendingdues (against unpaid subsidies/concessions) could be settled inbonds in the current financial year while another Rs 31,000crore-odd could see a cash settlement. However, those plans depend,more than ever, on how well the government is able to manage itsfiscal deficit in 2008-09.

Earlier this week, finance minister P Chidambaram admitted that thegovernment could overshoot its fiscal deficit targets for the yearin view of the ongoing financial turmoil and the overall economicdownturn. Well-placed government sources told ET, "Any clearperspective on what shape and size the fertiliser bonds for thecurrent year may take would continue to remain fuzzy, atleast foranother month."
Although input prices are now on the downslide, in consonance withcrude oil prices, phenomenally high global prices for thesematerials during the year’s first half meant that theindustry's working capital needs increased by four times over thatof 2007-08.
This made it im-possible for fertiliser makers to leverageadditional funds of that magnitude from financial institutions.Therefore, the government's fertiliser subsidy bill for the year isstill projected at well over Rs one lakh crore. Apprehensions ofthe declining rupee trend have also added to the woes.
The pending dues account for a substantial chunk of the projectedfertiliser subsidy bill of Rs 1, 20,000 crore. Budgetary provisionsfor the year, ironically and quite inexplicably, were only a paltryRs 31,000 crore, spelling a massive difference. That allocatedamount, infact, was enough to ensure fertiliser supplies only up toJune 2008.
Not surprisingly, fertiliser companies are aggressively pushing forsquaring up of all dues by the government urgently and in cash,while being deadset against the issuance of bonds. During 2007-08,Rs 7,500 crore, about 19% of the total subsidy for the year, wassettled in the form of bonds.
http://economictimes.indiatimes.com/News/Economy/Finance/Fiscal_deficit_to_decide_fate_of_Rs_45k_cr_fertiliser_dues/articleshow/3649448.cms
NBFCs can raise capital through perpetual debts: RBI
The Reserve Bank on Wednesday granted another window fornon-deposit taking NBFCs to raise capital by issuing perpetualdebts.

Considering the need for enhanced funds for increasing business andmeeting regulatory requirements, it has been decided thenon-deposit taking non-banking financial companies (NBFCs) mayaugment their capital funds by issue of perpetual debt, RBI said ina notification.
Such instruments would be considered as Tier I capital to theextent of 15 per cent of total Tier I capital as on March 31 of theprevious accounting year, it said.
It also said that the amount of excess perpetual debt overpermissible limit would qualify as Tier II capital within theeligible limit.
The minimum investment by single investor in such issue should notbe less than Rs 5 lakh, it said, adding, the rate of interestpayable to the investors may be either at a fixed rate or afloating rate referenced to market determined rupee interestbenchmark rate.
The instruments which will be perpetual in nature will be issued inIndian Rupee only subject to lock-in clause with regard to paymentof interest rates.
Commercial banks are allowed to raise capital by issuing perpetualdebt for meeting capital adequacy ratio.

"The individuals began discussing going on a 'killing spree' thatincluded killing 88 people and beheading 14 African Americans,"Weaks said in the affidavit.
ATF special agent in charge James Cavanaugh said "H" is the eighthletter of the alphabet and 88 stood for "Heil Hitler."
"The U.S. Secret Service takes all threats against presidentialcandidates seriously and is actively investigating theallegations," said Richard Harlow, special agent in charge of theSecret Service-Memphis Field Office. "The Secret Service does notcomment on this type of investigation."
Three-quarters of Americans now disapprove of President George W.Bush’s performance. Given this, and the fact that thepolicies and values of John McCain and his vice-presidentialnominee, Sarah Palin, are almost identical to those of Bush, youwould expect Obama to be leading in the polls by a wider marginthan he is.

The worldwide survey, conducted from May through October, alsomeasured the level of interest in the U.S. presidential electioncampaign among world citizens. The survey asked whether respondentsthought the election would make a difference in their country.


See, so caled Civil rights and trade union leaders in the UnitedStates are warning of last-minute efforts to deny victory toDemocratic candidate Barack Obama by preventing thousands of likelypro-Obama voters from casting ballots on November 4.Known as“vote suppression,” the tactic involves challenges toeligibility on a variety of grounds, including improper voterregistration and insufficient proof of US citizenship or place ofresidence.

Asking leaders from Bihar not to add ‘fuel to the fire’over the raging controversy on the anti-North Indian campaign, ShivSena leader Uddhav Thackeray said Railway Minister Lalu Prasadshould not meddle in Maharashtra's affairs.In a suspected attack aspart of the campaign against north Indians in Maharashtra, a25-year-old Uttar Pradesh migrant died after being beaten up in alocal train by fellow commuters, who allegedly picked up a fightwith him and his three friends, police said on Wednesday.
The Bihar leaders should ‘not add fuel to the fire’ bymaking statements over the condition of north Indians in Mumbai.
Reacting to Lalu Prasad's demand that Sena should be banned, Uddhavsaid the ‘real’ culprits of Bihar people are their ownleaders.
"Bihar leaders should ask themselves why people from their statehave to migrate to Mumbai to make a living," Uddhav said.
"I would advice Lalu not meddle in Maharashtra's affairs," he said.
Meanwhile, in the wake of killing of a youth hailing from UttarPradesh in Mumbai, Chief Minister Mayawati asked the Centre andMaharashtra government to take immediate action to stop attacks onNorth Indians, saying they have ‘failed’ to preventsuch incidents.
"The Centre and Maharashtra government should initiate immediatemeasures to check attack on North Indians in Maharashtra," Mayawatisaid in a letter shot off to the Union government and MaharashtraChief Minister.
Terming the attacks as ‘unfortunate’, the ChiefMinister said that both Centre and Maharashtra government havefailed to check such ‘unconstitutional acts’.
Communalism falred once again to subvert the issues related to lifeand death of Common man in India! Washington Italian government isin no mood to relax Hanging Rope to KILL! thus, the SUPERSLAVEGovernment is not considering reduction in prices of petrol, dieseland domestic LPG despite crude falling to its lowest-level in 15months as prices have to stablise at this level to wipe out thecurrent revenue losses on fuel sales, an oil ministry officialsaid. "There is no proposal to reduce fuel prices. We have to watch(the) situation for a few more weeks," said S Sundareshan,Additional Secretary in the Oil Ministry in New Delhi. The basketof crude India buys on Tuesday averaged at USD 56.72 per barrel, alevel at which state-run Bharat Petroleum, Indian Oil and HindustanPetroleum would break even if global prices were to stabilise for amonth

On the other hand, Indian firms are likely to lay off a quarter oftheir employees in the next 10 days, as part of steps to containcosts in the face of shrinking margins amidst the economic turmoil,an industry body said on Wednesday. Trade body Associated Chambersof Commerce and Industry of India (ASSOCHAM) said the job cutswould be across the steel, cement, construction, real estate,aviation, IT-enabled services and financial services sectors.
Expansion has slowed in Asia's third-largest economy in the lasttwo quarters, from the 8 per cent or more annual growth in the pastfour years, with high interest rates crimping demand and on theglobal financial crisis.
The central bank last week cut its forecast for growth in 2008/09to 7.5-8 per cent from its earlier view of 8 per cent. Thiscompares with the economy's 9 per cent growth in 2007/08.
"Employers have no other alternatives as part of their corporatestrategy ... for sustaining their operations with squeezed margins(even) after after drastic cost cutting measures," ASSOCHAM said ina statement.
Last week, realty firm Parsvnath Ltd said it would axe"non-performing" employees, as it was facing slowing sales.
Top private carrier Jet Airways had sacked 1,900 employeesmid-October, citing declining demand and high fuel costs, butreinstated them days later on protests and political pressure.

The deceased, Dharam Dev, a resident of Faizabad in Uttar Pradesh,was onboard a Mumbai CST-bound local train from Khopoli along withthe three friends yesterday when incident occurred.
Dev, who works as a helper at a construction site, was occupyingthe window seat in the train, when a group of eight to tencommuters, who appeared to be local villagers, forced them tovacate the seat, police said.
The local group then asked Dev and his friends if they were'bhaiyyas' after which they started abusing them, they said.
According to the statement given by the victim's friends, the fourwere slapped and kicked, thus rendering Dev unconscious.
The local group got off the train at Karjat, while Dev and hisfriends remained in the train. The victim's friend then called upthe Railway Protection Force (RPF) control number, which isdisplayed in trains.
Officials from the RPF then boarded the train at Badlapur and Devwas rushed to a nearby hospital where he was declared dead.
A K Sharma, Commissioner of GRP, said, "As per our information, theperson died at the hospital. The information we have suggests thatthere were no external injuries on the victim's body. We arewaiting for the postmortem report".
"We have filed a case of rioting and murder against 10 to 12unknown persons at the Karjat railway police station," Sharma said.
"Some persons have been brought in for questioning at Karjat policestation but no arrests have been made yet in the case," he added.
Death of UP youth: Shivraj Patil speaks to Maha CM
New Delhi, October 29:
Union Home Minister Shivraj Patil talked to Maharashtra ChiefMinister Vilasrao Deshmukh in the wake of a youth from UttarPradesh being beaten up in a local train in Mumbai.
Patil spoke over telephone to the Chief Minister amidst suggestionsfrom the Centre that the state administration should remaincautious and alert in the wake of possibilities of linking thedeath of a weapon-wielding youth from Bihar in a police shootout toattacks on North Indians in the state.
Minister of State for Home Shakil Ahmed that since these are verysensitive times, Maharashtra should be extra careful.
He said Maharashtra government has informed the Centre that thedeath of the UP migrant was due to clash between two groups ofyoungsters on sitting arrangement in a local train.
A Home Ministry spokesman said details have been sought from thestate government about the incident, which came close on the heelsof the death of Rahul Raj, a youth from Patna, who was shot dead bythe police in a Mumbai bus on Monday.
Rahul had held a bus load of passengers hostage in Mumbai with acountry-made revolver.
Lynching of youth not 'hate crime': Patil
Mumbai, October 29:
Maharashtra Deputy Chief Minister R R Patil made it clear thatlynching of a person in a train was not a ‘hate crime’against North Indians and the government will pay a compensation ofRs 2 lakh to the family of the victim, who was beaten to death byfellow commuters.
"This is not a hate crime and we will give compensation of Rs 2lakh to the family of the victim," Patil said.
"The state government owns the responsibility of protectingmigrants from other states including Bihar and Uttar Pradesh," hesaid.
When asked whether the attackers were MNS activists, he said, "I donot have any confirmation of the report. But we will take strictaction against the offenders."
Paswan demands imposition of President's rule in Maharashtra
Patna, October 29:
Union Minister Ramvilas Paswan demanded dismissal of Congress-NCPgovernment in Maharashtra and trial of MNS leader Raj Thackeray andShiv Sena chief Bal Thackeray on charges of murder and sedition inview of MNS' anti-North Indian campaign.
'If a warning has not yet been issued to Maharashtra governmentunder Article 355, there is no need for it any more and VilasraoDeshmukh government must be dismissed forthwith,'' Paswan,president of Lok Janashakti Party (LJP), said.
Alleging that North-Indians were being attacked as part of 'deeprooted conspiracy', Paswan said Maharastra Navanirman Sena (MNS)leader Raj Thackeray and his uncle Shiv Sena chief Bal Thackeraymust be tried on charges of murder and sedition.
Pressing his point, Paswan said barely a day after a youth fromPatna Rahul Raj was shot dead by Maharashtra police, who werereluctant to pull the trigger against MNS mobs brutalising helplessBiharis, a youth from Uttar Pradesh Dharamdev Rai was beaten todeath in a train by 'divisive forces trying to reap politicalbenefit by fomenting regionalism'.
Paswan, who was speaking after visiting Rahul Raj's family here,said an all-party delegation had met Prime Minister Manmohan Singhand demanded a judicial inquiry into the killing by a sitting judgeof the Supreme Court or a High Court.
''It is unfortunate that the Maharashtra government is getting theincident probed by the chief secretary. The LJP rejects this probeand will settle for nothing less than a judicial inquiry,'' hesaid.
Lalu threatens to cancel train operation
New Delhi, October 29:
Against the backdrop of killing of a North Indian youth on a trainin a Mumbai suburb, Railway Minister Lalu Prasad threatened tosuspend train movement in states where rail passengers andproperties are repeatedly attacked.
"Railways are becoming soft target in many states these days. Ifrailway properties and passengers continued to be attacked we maythink of cancelling train operations in those areas," Prasad said.
The Minister, however, clarified that he did not mean anyparticular state.
Prasad also spoke to Prime Minister Manmohan Singh, UPA chief SoniaGandhi and Maharashtra Chief Minister Vilasrao Deshmukh andexpressed serious concern over the incident involving Dharam Dev,the youth hailing from Uttar Pradesh who was beaten to death byfellow commuters.
The Minister also announced compensation of Rs 3 lakh to the nextkith and kin of the deceased youth.
"Prime Minister and Soniaji have assured me that they wouldimmediately take up the matter with Maharashtra government," hesaid.
Seeking tough action against those involved in the train incident,Prasad requested the Prime Minister to ensure ‘fullsecurity’ to North Indians in Maharashtra during the Chhathfestival.
"I have told the Prime Minister to take stringent action againstthose behind the incident. I also spoke to Deshmukh for actionagainst the culprits," he said.
'Maha Govt treating Raj Thackeray as its son-in-law’
Linking the death of a migrant from Uttar Pradesh in Maharashtra tothe violation of the ‘honour’ of the state, SamajwadiParty leader Amar Singh asked Congress to ‘wake up’ andcheck such incidents before it faces the ire of voters in thecoming elections in Delhi, Bihar and Uttar Pradesh.
"The attack on the migrant from Sant Kabir Nagar in Uttar Pradeshwhich led to his death was in fact an attack on the honour of UttarPradesh and Bihar," Singh said.
Attacking the Maharashtra government, he alleged that the VilasraoDeshmukh dispensation was treating MNS chief Raj Thackeray as its‘son-in-law’ even as he continues attacks on NorthIndians.
The police force of Deshmukh, R R Patil and Sharad Pawar has failedto protect north Indians, he alleged.
"While they shot dead Rahul Raj (a gun-wielding youth who died onMonday), they have not used even a stick on Raj Thackeray," hesaid.
"Congress should wake up before it faces the ire of North Indiansin the Lok Sabha and assembly elections in Delhi, Bihar and UttarPradesh," he said, while condemning the lynching of a youth fromUttar Pradesh in a train in Maharashtra on Tuesday.
Singh would soon meet UPA chairperson Sonia Gandhi to urge her toprevent repetition of such incidents.
Amar asks Lalu, Paswan to quit UPA
The Samajwadi Party asked Union ministers from Bihar Lalu Prasadand Ram Vilas Paswan to resign from the Cabinet in the wake ofattacks on north Indians in Maharashtra in an apparent bid to putpressure on the UPA government to prevent such incidents in thatstate.
Talking to reporters in New Delhi, SP leader Amar Singh said LaluPrasad and Paswan should take a serious view of the attacks onnorth Indians in Maharashtra and resign from the Cabinet as aprotest.
"Had I been in the Cabinet, I would have resigned as the VilasraoDeshmukh government is not taking steps to prevent attacks despitethe Prime Minister's intervention...I request Lalu Prasad andPaswan to resign from the Cabinet," Singh said.
He said he would not support the demand for imposition ofPresident's Rule in Maharashtra as "fortunately or unfortunately weare supporting the UPA".
"The attack on a migrant from Sant Kabir Nagar in Uttar Pradeshwhich led to his death was in fact an attack on the honour of UttarPradesh and Bihar," he said.
He also asked Congress to "wake up" and check such incidents beforeit faces the ire of voters in the coming elections in Delhi, Biharand Uttar Pradesh.
"Congress should wake up before it faces the ire of north Indiansin the Lok Sabha and assembly elections in Delhi, Bihar and UttarPradesh," he said, while condemning the lynching of the youth in atrain on Tuesday. Singh said he would soon meet UPA chairpersonSonia Gandhi to urge her to prevent repetition of such incidents.
US groups warn of moves to deny Obama victory
“This year has brought heightened efforts to disenfranchiseand intimidate voters,” Wade Henderson, director of theLeadership Conference on Civil Rights, declared recently.“These are targeted and insidious attempts to suppress thevote, particularly in communities of colour.”
John Sweeney, the head of the largest US trade union confederation,charges that groups favouring John McCain are responsible forvote-suppression campaigns in some key states.
Mr Sweeney said the labour movement “strongly condemns thecoordinated national effort by the Republican Party and alliedpolitical operatives to suppress voter turnout and deny ballots tonewly registered voters, particularly young people, the poor andpeople of colour.”
Tens of thousands of individuals in six swing states have beenpurged from voter rolls or have been prevented from registering tovote, The New York Times reported earlier this month. Many of thesemoves by state election officials appear to be in violation offederal law, the Times added.
The newspaper also said, however, that the purges and denials ofeligibility do not seem to be coordinated by any political party.
CBS News reported this week that there is so far no indication ofwidespread voter suppression in states where balloting is permittedto take place weeks in advance of Election Day. Based on surveys itconducted in 17 of those states, the US television network foundthat charges of vote fraud or vote suppression “are far morerhetoric than reality.”
Some voting-rights activists have also warned that the machinesused to count ballots at thousands of polling places are vulnerableto “hacking.” Computer experts could rig these machinesto record inaccurate vote totals, these monitors say.
Even if broadly conducted and highly effectively, vote suppressionand hacking of voting machines would probably not alter the outcomeof this year's presidential election. Nearly all reputable pollsshow Senator Obama with a substantial lead that may be impossibleto erase through such tactics.
Still, the Obama campaign plans to deploy armies of attorneys atpolling places around the country on November 4 to monitor votingprocedures and to initiate urgent legal action in response tocomplaints of vote suppression. The McCain camp is preparing asimilar, though smaller, effort.
Millions of names are removed from voter rolls every year in theUnited States in response to deaths or changes in residency. Butother factors may also be involved in some states. And that leadsWendy Weiser, an elections expert at New York University, todescribe the culling process as “secret, prone to error andvulnerable to manipulation.”
“Lots and lots of eligible voters could get knocked off thevoter rolls without any notice and, in many cases, without anyopportunity to correct if before Election Day.”
Conversely, Senator McCain's campaign has voiced fears aboutefforts to inflate voter rolls by adding invalid registrations inneighbourhoods likely to support Senator Obama by wide margins.Senator McCain has pointed in particular to a group that organisesin low-income urban communities. It was recently revealed that 30percent of 1.3 million voter registrations submitted by the groupwere faulty.
Obama around the world
Outside the United States, Obama-mania continues to capture heartsand minds. A ‘Japanese Obama ’, Noyomus Sato, hasattracted attention on his comedy show and in Chicago, where he gotan ‘Obama cut’ from Obama’s real-life barber,Zariff
Since he started impersonating Obama, his website has gone fromreceiving 200 hits per day to 100,000: a clear sign that he shouldfocus his comedy routines on the Democratic candidate forpresident.
Meanwhile, in Kenya in early October, author of the Obama-skepticalbook The Obama Nation: Leftist Politics and the Cult of PersonalityJerome Corsi was deported due to apparent visa difficulties. He wasdetained for 4 ½ hours before being released.
Though immigration officials said he was not in possession of therequisite work permit, his publicist Tim Guehler told Time Magazinethat they had been assured in advance that their papers were inorder. Could Corsi’s critical (and“factually-challenged”, according to Time) portrayal ofObama been at issue?
US Judge rejects Obama-born-in-Kenya claim!
A US federal judge on Friday rejected a lawsuit claiming SenatorBarack Obama is ineligible to seek the presidency because he waseither born in Kenya or is a citizen of Indonesia.
The US Constitution requires that a person be born in the UnitedStates and be a citizen of the country in order to be eligible toserve as president.
Judge Richard Barclay Surrick ruled that Philip Berg, an attorneyin the state of Pennsylvania, lacked standing to bring such a suit.
The claim filed by Mr Berg, a supporter of Hillary Clinton'spresidential campaign, is one of several desperate attempts bySenator Obama's opponents to block what appears to be hisincreasingly likely victory at the polls on November 4.
Segments of the US right wing will be disappointed by the courtdecision thwarting this move to depict Senator Obama as less thanan authentic American.
Many of the same extremists have sought to link Senator Obamaclosely to Prime Minister Raila Odinga, who is portrayed byObama-haters as both a communist and a supporter of radical Islam.
Senator Obama has posted on his campaign Website a birthcertificate showing that he was born in the state of Hawaii in 1961to Ann Dunham, an American woman, and Barack Obama Snr, a Kenyanwho was studying at the University of Hawaii at the time. Followingtheir divorce, Ms Dunham married an Indonesian man.
"I am totally disappointed by Judge Surrick's decision and, for allcitizens of the United States, I am immediately appealing to the USSupreme Court," Mr Berg said in a statement following Friday'sruling.
It is not clear whether the Supreme Court will review Mr Berg'splea for a hearing prior to the November 4 election.

Gang unleashes terror in City Centre
A shop assistant was killed and a businessman seriously injuredwhen gangsters unleashed terror in Nairobi City Centre on Tuesdayafternoon.

Six gangsters robbed shops on Nairobi's Kaunda Street and KenyattaAvenue. They fired their guns as they dashed through Wabera Street,Banda, Kimathi and later Biashara streets before escaping.
On Tuesday, three premises were raided and a police officer muggedin two hours.
Ran in circles
Some gang members walked towards Tom Mboya Street as police ran incircles searching for them.
After the robbery at Kant’s shop on Kaunda Street, thegangsters walked a block away to an electronics shop next to TheStanley Hotel where they shot dead a shop attendant before robbingthe shop and walking away.
However, as the gang was escaping from Kenyatta Avenue, they bumpedinto police officers on patrol on Banda Street and ran in differentdirections.
One of them was seen tucking his gun in his trousers on KimathiStreet before disappearing towards Biashara Street.
On Biashara Street, the gangsters are said to have shot and killeda shop attendant as they engaged police in a shoot-out for 30minutes.
A witness said the robber who killed the worker intimidated threepolice officers who were pursuing him as they had pistols while hehad an AK- 47 rifle.
The victim is said to have been a worker at Kashmir Crafts, whichthe gang wanted to rob.
“He tried to run away after he realised thugs had stormed theshop and a thug who was keeping vigil outside killed him. I triedto alert a watchman to no avail as he walked confidently downMuindi Mbingu Street,” a witness said.
He said the gangster wore a short-sleeved white shirt and carriedhimself confidently.
The afternoon incident affected businesses and operations on MuindiMbingu, Banda, Kimathi and Biashara streets and Kenyatta Avenue.
Pedestrians scampered for safety and hid under vehicles and inbuildings as gunfire rent the air. Some people were injured in themelee.
Another witness said a middle-aged gangster drew a gun when herealised he was being trailed by police officers.
“He shot in the air three times before he disappeared,”he said, adding: “We did not know what was going on.Everything happened so fast.”
Meanwhile, a suspected mugger was arrested on Muindi Mbingu Streetafter he and his accomplices robbed a police officer of Sh300,000.

Are insurance firms fair to the fairer sex?
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Agencies
Posted: Oct 29, 2008 at 1225 hrs IST
New Delhi, October 29: They have conquered many a male bastionwhether it is driving an Auto-Rickshaw or playing a role in thearmed forces. Women, in India, however have little option when itcomes to taking an insurance cover.
As a matter of fact, in a country where there are 930womenper 1000men, Bajaj Allianz is the only company which offers insurancepolicies exclusively designed for women.
Recently, Life Insurance Corporation (LIC) withdrew Jeevan Bharathi1, a policy for women. "The policy wasn't popular. It didn't sellenough. So we withdrew it. We'll bring out a new policy soon", saysDevraj Kashyap, Development officer at LIC.
However, Vinit Vidyarthi, Principal Officer at Almondz Insurancebrokers Ltd, says, "Jeevan Bharthi didn't do well because it wasnot pushed well by LIC."
A Commonwealth Fund report 'Women and Health Coverage: TheAffordability Gap', by researchers at the National Woman's LawCentre, says that women are at a disadvantage because they havegreater health care needs and lower incomes than men.
"Yes, We don't have policies that are exclusively for women. But weunderstand that Women are equally at risk due to modern urbanlifestyle," Says Soumi Rao, Manager of Public Relations at ICICIPrudential Life Insurance.
"While most of the health risks women face are similar to men andhence the coverage required is similar, they are at higher risk forcancer and hence could look at buying cancer protection," he adds.

I’m too old to play a prostitute: Julia Roberts
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ANI
Posted: Oct 29, 2008 at 1536 hrs IST
Washington, October 29: One of Hollywood’s greatest actressesJulia Roberts has laughed off reports of a sequel to her hit movie‘Pretty Woman’, insisting that she’s too old toplay a prostitute.
The now 41-year-old played the role of a ‘hooker with a heartof gold’ in the 1990 movie, which also starred Richard Gere.
While telling TV show Extra at a charity event in California onOctober 27, the actress made it clear she had no plans of returningto the streets of Los Angeles.
"No one wants to see an old hooker! Do they?" Contactmusic quotedher, as saying.
Malaysia likely to issue Fatwa against Yoga
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Agencies
Posted: Oct 28, 2008 at 1354 hrs IST
Kuala Lumpur, October 29: Yoga may soon be outlawed in Malaysia, ifa prominent body of clerics which is planning to issue a fatwa onthe practice, has its way.
Malaysia’s National Fatwa Council is going to impose Fatwa onYoga after Zakaria Stapa, a lecturer of University ofKebangsaan’s Islamic Studies Centre, on Tuesday advisedMuslims who have taken up Yoga to stop practising it fearing thatit could deviate their belief, local news reports said in KualaLumpur on Tuesday.
“A ruling would be made by the council’s Chairman,Abdul Shukor Husin, in this regard,” Deputy Director-Generalof the Department of Islamic Development Malaysia, Othman Mustapha,quoted as saying by New Straits Times online edition

RBI must try to keep systemic liquidity ‘positive’

29 Oct, 2008, 0022 hrs IST,JAYESH MEHTA,
The first policy announced by the new Reserve Bank of Indiagovernor was intentionally devoid of any bells and whistles andsignals a clear intent t
o be vigilant, intercede regularly and act swiftly for effectivemanagement of liquidity.
Basically, they showed that they are ready to manage the trinity offinancial stability, price stability and growth. A key focus forRBI is to ensure the global credit crises has limited impact on theIndian markets and banking system.
The global environment has had its influence in India throughdifferent channels and markets are looking to RBI to see how bestIndia’s strong banking system can remain reasonablyinsulated.
The announcement impact had been diluted in advance after RBI cutthe CRR by 250 bps in multiple stages and the repo rate by 100 bpsover the past few weeks.
Markets were looking at the policy to get news on whether RBI willkeep liquidity easy and whether there would be more measures tospur credit growth. RBI signalled intent to provide liquidity whenrequired without going the whole hog and is clearly not willing tocompromise on credit quality.
The key thing to watch out is how RBI responds to exchange-ratemovements if the dollar strengthening story continues. Theliquidity angle has been complicated, given RBI’s foreignexchange intervention wherein the dollar sales would have had anadverse impact on rupee liquidity. As the offshore capital marketsare kind of shut down from raising money point of view, the burdenhas got shifted to the banking system. This has put an extra stresson domestic liquidity.
RBI has shown its intent to provide liquidity as and when requiredby both conventional and non-conventional route. Another key thing,which has come out very clearly from the policy, is the fact thatRBI is looking at SLR from prudence point of view (and not justliquidity tool). They see SLR as a source of strength in thecurrent financial scenario and future liquidity interventions willbe managed through more CRRs, OMOs and LAFs for marketintervention.
The markets were expecting a rollback in some of counter-cyclicalmeasures on “Risk Weights” and “CapitalAdequacy” which they had initiated over the past few years,as those concerns have receded somewhat.
We think that this will give some boost to relevant sectors, as thescenarios have reversed. It is very clear that we have entered intoa slowdown phase in economy though we may all have different viewson the extent of it. Inflation is a lagging indicator and the paceof deceleration is going to increase.
To give a boost to the economy, we believe that RBI will continueto rely on conventional tools like CRR, repo, reverse repo ratecuts and other unconventional moves like providing moreaccommodation in SLR.
In short, given the current environment, RBI should try and keepsystemic liquidity from ‘negative to positive’, and inorder to assure markets, can continue with the measures announcedin the past fortnight for the medium term at the very least, ratherthan keeping it as a temporary measure. This will definitely go along way in bringing much-needed stability in the Indian financialmarkets.
(The author is MD & head of FICC, DSP Merrill Lynch)
http://economictimes.indiatimes.com/News/Economy/Policy/RBI_must_try_to_keep_systemic_liquidity_positive/articleshow/3649295.cms
More firms ban execs from ill-gotten pay

29 Oct, 2008, 2020 hrs IST, REUTERS
NEW YORK: Nearly two-thirds of big U.S. companies have banned theirleaders from keeping hefty bonuses when there are questions overexecutive condu
ct or the accuracy of financial results, a policy the government isalso demanding from firms selling shares to the Treasury Departmentas part of the bailout plan.
A new study to be released on Thursday finds that these bigcorporations have voluntarily adopted so-called "clawback" policiesthat allow them to recoup portions of executive pay in the event offinancial restatements, unethical conduct or other reasons. Anearly copy was provided to Reuters.
Many investors say such rules should be standard practice atcompanies, saying it's outrageous for executives to be able to keepill-gotten pay. The Treasury Department, in compensation rules laiddown as part of the financial rescue, has also latched onto the hottopic and demanded that companies selling equity stakes to thegovernment agree to adopt clawback policies.
Overall, 64.2 percent of the largest 95 publicly held companies inthe Fortune 100 had disclosed clawback policies as of this year, upfrom 42.1 percent in 2007 and 17.6 percent in 2006, according tothe study from pay research firm Equilar Inc.
"We're switching from a situation from where it was a toss-up as towhether a company would have a clawback policy to now, there is aclear consensus that clawbacks are a good corporate governancepolicy," said Alexander Cwirko-Godycki, a research manager atEquilar and one of the study's authors.
Lockheed Martin Corp, Motorola Inc and Hess Corp are among thecompanies that have disclosed clawback policies this year,according to Redwood Shores, California-based Equilar.
The provisions vary from company to company. The study found thatoverall, clawback policies are becoming broader, applying to moretypes of conduct and covering more kinds of compensation thatexecutives receive.
The policies generally do not require CEOs and others to forfeitall their compensation. Instead, they target things like cashbonuses as well as stock options, restricted shares and sharesgranted for meeting various performance goals, Equilar said.
A handful of companies, including PepsiCo Inc. also have extendedclawback provisions to apply to outside directors on the board, notjust company executives, the study found.
The clawback concept is not new. The 2002 Sarbanes-Oxley corporatereform law included a provision requiring the CEO or chieffinancial officer of a public company to repay compensation ifthere were to be an accounting restatement as a result ofmisconduct.
That has led to pressure for companies to enact their own policies.The primary driver for boards of directors, according to Equilar,is to deter corporate managers from taking actions that couldpotentially harm the company's financial position.
The recent Treasury Department requirements also go further thanSarbanes-Oxley, expanding the provisions to the top five officersat a company, for example. The Treasury rules only cover financialinstitutions selling equity stakes to the government.
Michael Melbinger, a partner at law firm Winston & Strawn LLPin Chicago who advises boards of directors on compensation matters,said the clawback concept is gaining more acceptance among boards,as well as among corporate executives.
"They feel like they want to be part of good governance and theydon't think they are going to do anything that leads to a clawback,so they are amenable to it," he said.
IMF announces 20-bn-euro rescue package for Hungary

29 Oct, 2008, 1526 hrs IST, AGENCIES
WASHINGTON: A group of donors led by the International MonetaryFund announced they would loan 20 billion euros (25 billiondollars) to Hungary, whi
ch has been hit hard by the global financial crisis.
Out of the total, 12.5 billion euros has been pledged by the IMF,6.5 billion from the European Union and a billion by the WorldBank, the IMF said in a statement late Tuesday.
"An IMF staff mission and the Hungary authorities have todayreached agreement... on an economic program supported by an12.5-billion-euro loan under a 17-month stand-by arrangement," IMFchief Dominique Strauss-Kahn said.
"The EU stands ready to provide a loan of 6.5 billion euros and theWorld Bank has agreed to provide 1.0 billion euros."
The IMF loan is subject to approval from the IMF executive board,expected in early November.
As the fallout from the financial crisis ripples around the world,a number of countries have found themselves needing assistance fromthe IMF, a lender of last resort to cash-strapped nations.
Iceland has also agreed a loan and Belarus and Pakistan haveappealed for assistance.
The European Union confirmed on Wednesday that it was prepared togrant the 6.5-billion-euro loan to Hungary.

Falling market makes stocks cheaper than Diwali snack

28 Oct, 2008, 0830 hrs IST, ET Bureau
MUMBAI: In yet another attempt to salvage a sinking stock market,market regulator SEBI has made it easier for promoters with over55% stake in companies to increase their holdings through creepingacquisition. However, though stock prices are at their extremelows, it’s unclear how many promoters would use thisopportunity, given the liquidity crunch and turmoil in financialmarkets.
SEBI has now allowed promoters to buy up to 5% stake every year toincrease their holdings up to 75%. In order to ensure that suchbuying is reflected in the stock prices and provides an opportunityfor retail investors to exit, the regulator said that such sharepurchases should be in the open market. “This is aimed atbringing in the promoters as natural buyers. In the absence ofbuyers, even a small offloading by FIIs is difficult for the marketto absorb,” said a senior investment banker.
Also, promoters are automatically exempt from SEBI regulations fora 5% increase in stake annually as a result of a buyback by thecompany. This again will make it easier for companies to carry outstock buyback.

SEBI announced the relaxation on Monday, when the Sensex broke yetanother psychological level, slipping below the 8,000-markintra-day before recouping a major portion of losses. The rupeedipped below Rs 50 a dollar intra-day, but closed higher followingRBI intervention and dollar selling by a large US bank. The Sensexplunged to a three-year low of 7,697.39, before bouncing back toclose the day at 8,509.56, down 191.51 points, or 2%, from theprevious close.
The 50-share Nifty closed at 2524.20, down 59.80 points, or 2.3%,from the previous close. Bears were clearly unruffled by reportsthat the regulator was analysing data to find out attempts tohammer down prices. It is also becoming obvious by now that the banon overseas lending of Indian shares by FIIs is not having thedesired impact. As per provisional data, FIIs pulled out a net Rs1,027 crore on Monday. However, the only silver lining is thatdomestic institutions still appear to be flush with funds: theybought shares worth Rs 916 crore net on Monday.
Aishwarya most bankable Bollywood star

29 Oct, 2008, 2008 hrs IST,