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Our staff not involved in terror attacks: Oberoi - NDTV.com
Source: Google News India - Business | 29 Nov 2008 | 2:00 pm Esprit plans big for IndiaGlobal apparel retail brand esprit on Saturday said it would expand its Indian operations by more than doubling the number of its stores in the country to 100Source: Daily News & Analysis: Money News | 29 Nov 2008 | 12:42 pm Global spotlight on intelligence failure, politics of terror in IndiaThe 'India Rising' story, a favourite of papers around the world, may have taken a knock after the Nov 26 terror strike paralysed business capital Mumbai and killed more than 150 people as the international media turned a critical gaze on India's partisan politics and intelligence failure in dealing with terrorism.Source: IndiaeNews.com: Business News | 29 Nov 2008 | 12:32 pm Fiscal Deficit Would Increase In This Year - TopNews
Source: Google News India - Business | 29 Nov 2008 | 11:59 am TRAI for market determination of prices for 2G spectrum - TopNews
Source: Google News India - Business | 29 Nov 2008 | 11:53 am Air traffic hit in Mumbai in the wake of attack - TopNews
Source: Google News India - Business | 29 Nov 2008 | 11:49 am OPEC to defer new oil cut as divisions emergeCAIRO (Reuters) - OPEC on Saturday prepared to defer a decision on a new supply cut amid signs that Saudi Arabia and its Gulf allies are not happy with adherence to restraints agreed in the past two months.Source: Reuters: Money News | 29 Nov 2008 | 11:40 am 45% cast votes in DelhiNew Delhi: Polling in the Delhi Assembly elections picked up by noon with an estimated 45% of the 1.05 crore voters exercising their franchise during the first six-and-a-half hours of polling, which was peaceful. A minor scuffle was reported in a polling booth in Wazirpur between a polling agent and an election officer, which was contained by police before it escalated. “Around 45% of the voters have cast their votes till 2:30pm. The polling has so far been peaceful and there were no reports of any untoward incident,” officials at the Delhi Chief Electoral Office said. Initial reports suggested that polling in constituencies like Matiala, Najafgarh and Ghonda were brisk. Among the early voters were Vice President Hamid Ansari, Delhi Chief Minister Sheila Dikshit, Congress chief Sonia Gandhi, AICC General Secretary Rahul Gandhi and BJP’s chief ministerial candidate V K Malhotra. Belaying apprehensions that Mumbai terror attacks will cast a shadow on the polling, people were coming out enthusiastically, especially in North-West, South-West and Outer districts. There were reports of malfunctioning of electronic voting machines (EVMs) in some parts of the city but they were rectified, election officials said. In Narela and Bawana, some voters complained that their names have been struck out from the electoral rolls and they could not vote. Polling was smooth in Jamia Nagar, which was in news after Batla House encounter in which two suspected terrorists were killed. Elaborate security arrangements were made in the capital with the deployment of about 52,000 police personnel who kept a tight vigil. Source: Home - Livemint.com | 29 Nov 2008 | 11:21 am Mumbai Terror Attacks 'Most Horrific Tragedy': Nandan Nilekani - TopNews
Source: Google News India - Business | 29 Nov 2008 | 11:13 am Opec struggles to find balance in oil marketCairo: Oil ministers from the Arab oil producing countries started their meeting in Cairo on Saturday ahead of an emergency gathering of the more powerful Opec oil cartel in effort to stem plunging oil prices. The representatives of the Organization of Oil Exporting Countries face their third test in as many months to engineer a rebound in prices hammered by plummeting crude demand amid a global economic meltdown. This meeting will come down to what Saudi Arabia, the kingpin and traditional price dove in a group that supplies 40% of the world’s crude oil, wants, say experts. The Saudis have been quiet going into the meeting, not indicating whether they will agree to the production cut being pushed by more hawkish members of the group like Iran on Venezuela. On Saturday morning, however, an interview with Saudi King Abdallah appeared in the Kuwaiti daily Al-Seyassah in which he said oil should be price at $75 a barrel, far above its current rate. “We believe the fair price for oil is $75 a barrel,” he said, without elaborating on how this would be achieved. Whereas crude stood at about $147 a barrel in mid-July, it now hovers about $90 lower. On Friday, the US benchmark West Texas Intermediate crude for January delivery was trading at about $54 per barrel. The cartel, whose next scheduled meeting is on 17 December in Algeria, has already held one emergency meeting on 24 October in Vienna to try to halt the slide in prices with an announcement of a 1.5 million barrel per day drop. It failed to support prices, and the cartel hastily convened the Cairo gathering on the sidelines of the Organization of Arab Petroleum Exporting Countries’ meeting. The outcome of the meeting likely hinges on a key issue with which Opec has long had a checkered past: unity. And, down they have gone, in a financial avalanche triggered by demand destruction, itself sped along by a world financial meltdown that also threatens to cut deeply into Opec member states’ government budgets. But ministers arriving Friday in Cairo were reticent. The recent price drop has left price hawks Venezuela and Iran clamoring for further reductions of at least 1 million barrels a day. Both countries need crude of about $90 per barrel to meet current spending needs aimed in part at propping up domestically unpopular regimes. Unlike many of their fellow members, the Saudis are better positioned to cope with the drop in prices. The International Monetary Fund estimates Riyadh needs crude in the range of about $50 per barrel for 2008 fiscal accounts to break even. Also unclear, after two earlier cuts failed to push prices higher, is what the group can do without prolonging the global economic downturn. OPEC itself, along with the International Energy Agency, has significantly revised down its projections for demand growth in 2009. Source: Home - Livemint.com | 29 Nov 2008 | 10:37 am Commandos mop up last of Mumbai militantsMUMBAI (Reuters) - Commandos killed the last Islamist gunmen holed up at Mumbai's Taj Mahal hotel on Saturday, ending a three-day rampage and siege that killed at least 195 people and is already being described as India's 9/11.Source: Reuters: Money News | 29 Nov 2008 | 10:30 am Over Rs 4,000 cr loss incurred during terror attacksThe 60-hour terror ordeal that struck Mumbai caused a blow of nearly Rs 4,000 crore to the financial capital of the country, industry experts said Saturday.Source: Daily News & Analysis: Money News | 29 Nov 2008 | 10:30 am Rs4,000 cr loss incurred during Mumbai attacksMumbai: The 60-hour terror ordeal that struck Mumbai on Wednesday night caused a blow of nearly Rs4,000 crore to the financial capital of the country, industry experts said on Saturday. “It is an overall loss of the economy as hotels, shops and all businesses were closed. A minimum of Rs1,000 crore per day is lost when such a shut-down takes place,” Assocham Secretary D S Rawat said. On Thursday the Bombay Stock Exchange, National Stock Exchange and Commodity exchanges were shut and many of the corporate offices had reported skeletal staff presence as security forces tried to overcome terrorists, who struck at different parts of the city. Combined daily turnover of the BSE, NSE and the commodity exchanges is about Rs 32,710 crore. The attack on the city, which is also the entertainment hub of the country, has greatly affected the television and movie industry with a loss of about Rs10 crore, estimated during the last three days of terrorist attacks. According to a film producer, who did not wish to be named said the biggest hit was the theatre business losing about Rs eight crore due to closure of screens. “TV and film production business is anyway affected and has suffered a loss of about Rs two crore,” he added. Source: Home - Livemint.com | 29 Nov 2008 | 10:25 am Rs 22.8 cr earmarked for IT park worksA sum of Rs 22.80 crore has been earmarked to begin infrastructure works at the proposed information technology parks at Illanthaikulam and Vadapalanji.Source: Moneycontrol Top Headlines | 29 Nov 2008 | 10:16 am Bankers to beef up security after terror attacksNew Delhi: In the wake of the deadly terrorist attack in Mumbai the financial capital of India banks feel that security needs to be beefed up at select branches to deal with any emergency. “We will beef up security in our branches besides installing CCTV in the select branches to deal with any abnormal situation, including terrorist onslaught,” Oriental Bank of commerce executive director S C Sinha said. Although all the branches have security guards, the bank would motivate them to be extra vigilant and prepare them to deal with abnormal situation, he said. This would require coordinated efforts from all kind of agencies and authorities including government, he said. UCO Bank chairman and managing director S K Goel said, there is security in all the branches if need be it can be increased. Authorities have done what best could have been done in such a situation, he said, adding, there is no loss of confidence in the banking system due to this. Banking operation was hit only in a particular area, which was cordoned off by security forces, he said. Situation would be normal from Monday as normalcy has been restored, he added. On the impact of terror attack on the banking operation, Union Bank of India chairman and managing director M V Nair said, “I do not see any impact of terror attack on our bank,” Out of 120 UBI branches in the city, 118 operated normally, Nair said, adding, the impact is limited to Nariman Point area which is cordoned off by security forces. IDBI Bank deputy manging director O V Bundellu said the impact has been very limited and going forward it would not affect the banking operation. Asked whether people’s confidence has been shaken, he said it is absolutely incorrect. It would be business as usual from Monday. Even the branches in the areas that have been attacked would have normal operation, he added. During the seize, banks were having normal business including internal meeting other executive meeting, he said. According to HDFC Bank treasury head Sudhir Joshi the banking operations, except in the areas affected by terrorist attacks, remained largely unaffected. Source: LatestNews-Home - Livemint.com | 29 Nov 2008 | 10:15 am More than 20 firms line up for BSNLs WiMax projectAt least 20 companies have lined up to become a franchisee for rolling out WiMax based broadband services by Bharat Sanchar Nigam Ltd.Source: Moneycontrol Top Headlines | 29 Nov 2008 | 10:13 am Bankers beefing up securityNEW DELHI: In the wake of the deadly terrorist attack India banks feel that security needs to be beefed up at select branches to deal with any emergency.Source: Daily News & Analysis: Money News | 29 Nov 2008 | 10:13 am Will safety concerns weigh on auto investments?French automaker Renaults decision to keep its corporate offices in Mumbai temporarily closed following the terror attacks clearly showed that it was taking no chances with employee safety. The company also issued a directive to its staff in Chennai that they would not be allowed to fly out of the city in these troubled times.Source: Moneycontrol Top Headlines | 29 Nov 2008 | 10:10 am GDP sees a growth slip to 7.6% - TopNews
Source: Google News India - Business | 29 Nov 2008 | 10:09 am NSG commandos end Mumbai siegeMumbai: Indian commandos killed the last Islamist terrorist holed up at Mumbai’s Taj Mahal hotel on Saturday, ending a three-day battle at landmarks across India’s financial capital that killed at least 195 people. “Taj is under our control,” Mumbai police chief Hasan Gafoor told Reuters, shortly after the building was raked by heavy gunfire as flames leapt from windows. At least three terrorists and one trooper were killed after a running gunbattle through a maze of corridors, rooms and halls, the country’s commando chief, Jyoti Krishna Dutt, told reporters. Prime Minister Manmohan Singh calls all-party meet on Sunday to discuss situation arising out of Mumbai terror attacks, reports PTI Sniffer dogs were taken into the iconic 105-year-old hotel and ambulances arrived. Some commandos did a final sweep of the rooms, while others boarded buses to pull out, looking exhausted. Ratan Tata, the chairman of the Tata Group of companies which owns the hotel, arrived at the premises later in the morning. He may be shocked by what he finds when he is finally let inside. “The lobby is an absolute mess,” said Manish Mundra, a volunteer who was bringing food to security forces and had been inside the hotel. “The furniture is broken, there is water everywhere they are never going to be able to reuse any of that stuff.”  National Security Guard members discuss outside Taj Hotel after the operation in Mumbai on 29 November 2008. Reuters The Taj Mahal was the last battleground after three days of intense fighting in various parts of the city of 18 million. On Friday, an army general said the gunmen appeared to be “very, very familiar” with the layout of the hotel, giving them a crucial advantage over his men. They were also well trained. “At times we found them matching us in combat and movement,” one commando told the Hindustan Times. “They were either army regulars or have done a long stint of commando training.” DEATH TOLL The local disaster control room said at least 195 people had been killed, the death toll rising as bodies were collected from the luxury Taj and nearby Trident-Oberoi hotels, scene of another siege that ended on Friday. Well-dressed but haggard-looking guests were let back to their rooms in the Trident wing of the hotel on Saturday morning to collect their belongings. Staff said they would re-open that wing on Wednesday, but not the Oberoi wing which was badly hit by a long gunbattle. The Trident lobby was covered in broken glass, with bullet holes in the glass stair bannisters and in the doors leading into the Opium bar. A grand piano was left unscathed, but cars parked outside were also riddled with bullet holes. India blamed the strike on “elements” from Pakistan.  The Taj Mahal hotel is seen engulfed in smoke during a gun battle in Mumbai on 29 November 2008. Reuters But Islamabad backtracked from an earlier promise to send the chief of the Inter-Services Intelligence (ISI), a move unlikely to calm Indian tempers and raise fresh questions about who is in charge of the shadowy agency. The terrorists’ action has struck at the heart of a city that is the engine room of an economic boom that has made India a favourite emerging market. It is also home to the Bollywood film industry. An Indian state minister said one of the terrorists arrested was a Pakistani national and Prime Minister Manmohan Singh warned of “a cost” if India’s neighbours did not take action to stop their territory being used to launch attacks. The arrested man has confessed to being a member of the Pakistan-based Lashkar-e-Taiba terrorist group, which has long fought Indian forces in Kashmir and was blamed for an attack on India’s parliament in December 2001, newspapers said. But Pakistan’s Foreign Minister Shah Mehmood Qureshi struck a conciliatory note and promised full cooperation. “Whoever has done this is neither your friend nor our friend,” he told reporters in New Delhi. “We are not responsible for this, nor is it in our interest to get involved in something like this.” The attacks were carried out by at least 10 young men armed with rifles and grenades, some of whom arrived by sea, who fanned out across Mumbai on Wednesday night to attack sites popular with tourists and business executives. Of these nine had been killed, Indian police said. Authorities said 18 foreigners were among the dead. At least 283 people were wounded. Three Germans, five Americans, one Australian, a Briton, one Canadian, two French, an Israeli, an Italian, a Japanese, a Singaporean and a Thai, were among the dead, according to various governments. Source: Home - Livemint.com | 29 Nov 2008 | 9:41 am Wipro asks fresh recruits to join BPO - TopNews
Source: Google News India - Business | 29 Nov 2008 | 9:40 am No hint of staff involvement in terror attack: Indian HotelsIndian Hotels, the owners of the Taj Mahal Palace and Tower Hotel here, Saturday said there was no hint of any involvement of their staff members, regular or contractual, in the nearly 60-hour terror attack on the property.Source: IndiaeNews.com: Business News | 29 Nov 2008 | 9:30 am Take tough action against terror: IndiaIncIndia Inc exuded confidence on Saturday that business will be back to normal from Monday and heaved a sigh of relief as the 60-hour terror horrorSource: Daily News & Analysis: Money News | 29 Nov 2008 | 9:18 am Saudi targets return to $75 oil priceCAIRO (Reuters) - Saudi Arabia on Friday identified $75 a barrel as a fair price for oil, the first time in years the world's leading crude exporter has cited a price target.Source: Reuters: Money News | 29 Nov 2008 | 9:16 am BJP’s Malhotra confident of ousting Cong in DelhiNew Delhi: Exuding confidence that the party will come to power in the national capital after a ten-year gap, the BJP on Saturday said people will root out the Congress government for “failing” to tackle terrorism. Malhotra, who cast his vote at St Columba’s School in Gole Market here, said that the people were angry with the Congress government for failing to handle the terrorism issue and “will express their anger in today’s voting”. “The government has totally failed to combat terrorism which has made the country a soft target. Terrorists can strike at will at any place. People are angry with the government,” Malhotra, who was accompanied by Vijay Jolly, party candidate for New Delhi seat, said. “Besides, the Congress government has failed on all fronts and surely people want a change. BJP is sure of returning to power in Delhi,” the BJP leader said. He blamed the Congress for “politicising” the issue of terrorism. “Not the BJP but Congress is playing politics on the issue,” Malhotra said when asked whether the saffron party was using the recent terror attacks in Mumbai during the polls. “But, the Mumbai issue is surely going to help the BJP as people will come out in large numbers to vote against the government,” Malhotra claimed. Justifying BJP’s advertisement in Saturday’s papers that bears a veiled reference to the Mumbai terror strikes, the leader said, “There is nothing wrong in that.” The voting process at Gole Market that began at 8am also saw some arguments between police and media personnel after the latter was subjected to frisking while entering the polling booth. Later, DCP Anand Mohan asked the police officer involved in the incident to file a report to the election officials on the matter. Source: LatestNews-Home - Livemint.com | 29 Nov 2008 | 7:57 am Sales draw U.S. shoppers, Asian economies stumbleNEW YORK (Reuters) - U.S. shoppers awoke early for post-Thanksgiving sales on Friday in a key test of the country's ability to withstand economic turmoil as sharp production declines in Asia gave fresh evidence of the global crisis.Source: Reuters: Money News | 29 Nov 2008 | 7:46 am Equities end with gains despite terror attack - Hindu
Source: Google News India - Business | 29 Nov 2008 | 7:38 am Carborundum Universal's subsidiary to invest $50 m in Russia - Sify
Source: Google News India - Business | 29 Nov 2008 | 7:34 am Ratan Tata visits his terror-devastated Taj HotelMumbai: Tata Group Chief Ratan Tata on Saturday visited the Taj Hotel shortly after three terrorists were gunned down by the National Security Guards in the fresh gunbattle early on Saturday morning to take stock of the land-mark building. He was accompanied by senior officials of the Taj Hotel, including Krishna Kumar, and surveyed the complex that include a heritage block that was devastated by fires at many places set off during the gunbattle between ultras and the security guards. The 529-room Taj Hotel was the centre of deadly 60-hour long militant attack on the financial capital of India. After fire erupted from some portions of ground, first and second floors, at least three fire tenders were pushed in to douse the flames. Many prominent business personalities and corporate executives, including Yes Bank Chairman Ashok Kapur, Sunil Parekh and developer Pankaj Shah, were killed during the terrorist attack at many points at Taj and another luxury hotel Oberoi (Trident). When contacted, Taj spokesperson said “some representatives of hotel have been allowed to go in but Mr Tata is still outside”. “We must stand together, shoulder to shoulder as citizens of India, and rebuild what has been destroyed. We must show that we cannot be disabled or destroyed, but that such heinous act will only make us stronger,” he had said after the terrorists hit Mumbai. Source: Home - Livemint.com | 29 Nov 2008 | 7:22 am 'Restoring Taj hotel's glory may cost Rs.5 bn, take 12 months'The restoration of the century-old Taj Mahal Palace and Tower Hotel in downtown Mumbai that was considerably damaged during the terror siege could take as much as 12 months and cost about Rs.5 billion (Rs.500 crore/$100 million), experts on structural engineering and architecture say.Source: IndiaeNews.com: Business News | 29 Nov 2008 | 7:00 am Tata Chemicals appoints new MD designateMUMBAI (Reuters) - Tata Chemicals Ltd, the world's second-largest soda ash producer, has appointed R Mukundan as its managing director designate.Source: Reuters: Money News | 29 Nov 2008 | 6:50 am Pakistan backtracks on sending ISI chief to IndiaIslamabad: Pakistan on Saturday backtracked on sending ISI chief Shuja Pasha to India in connection with the probe into the terrorist attacks in Mumbai and instead deputed a representative of the spy agency for the task. The decision was taken within hours of Premier Yousuf Raza Gilani agreeing to Prime Minister Manmohan Singh’s demand to fly the ISI chief to Delhi. At a meeting here early on Saturday, President Asif Ali Zardari, Gilani and Army chief Ashfaq Parvez Kayani decided against sending Pasha to India which suspected involvement of Pakistani elements in the Mumbai terror attacks that left over 160 dead. The unscheduled meeting held at the presidency continued well past 1:30am. “A representative of the ISI will visit India, instead of its Director General Lt Gen Shuja Pasha, to help in investigating the Mumbai terrorism incident,” a spokesman for the Prime Minister’s House said here. Gilani had on agreed to send the ISI chief to New Delhi for sharing information on the coordinated terror attacks on Mumbai when spoke to Singh over phone. The Pakistan Prime Minister had telephoned Singh to condemn the attacks and offer Islamabad’s assistance in investigating the incident. Singh wanted the ISI chief to visit Delhi to put before him information about the possible involvement of Pakistani elements, including those belonging to militant outfit Lashkar-e-Taiba (LeT), in the terror strikes. Separate statements issued by the Prime Minister’s House and the Foreign Office had earlier said the ISI chief would travel to India in connection with the probe. The statement from the Prime Minister’s House had said the “ISI chief will visit India at the earliest” after modalities were worked out by both governments. Gilani’s decision was criticised by the opposition PML-(N), PML-(Q) and Jamaat-e-Islami. Analysts in India and Pakistan had also questioned whether the civilian government led by Gilani’s Pakistan People’s Party would be able to convince the powerful military to send the ISI chief to India. Talking to a private TV channel last night, Pakistani army spokesman Maj Gen Athar Abbas had been guarded when asked about the ISI chief’s proposed visit to India. Abbas said it was “unfortunate” that senior Indian military officers were “making speculative comments without even making a preliminary investigation” into the Mumbai attacks. External Affairs Minister Pranab Mukherjee said in Jodhpur on Friday that “some elements” based in Pakistan were responsible for the terror strikes in Mumbai. Mukherjee noted that Pakistan had assured not to allow territories under its control to be used for terrorism against India. Singh, indicating involvement of Pakistani elements in the Mumbai strikes, said on Thursday that India would not tolerate use of territories of its neighbours for launch of attacks against it and that “there would be a cost if suitable measures are not taken by them”. Source: Home - Livemint.com | 29 Nov 2008 | 6:33 am Equities end week with gains despite terror attackAfter shedding values for two consecutive weeks, Indian equities markets ended with gains the week Friday, with a key index up 1.99 percent over its value Friday the previous week.Source: IndiaeNews.com: Business News | 29 Nov 2008 | 6:30 am Dikshit confident of victory in Delhi pollsNew Delhi: Chief Minister Sheila Dikshit on Saturday enthused confidence that Delhiites will give Congress a record third consecutive term in power as she exercised her franchise during the polling for the Delhi Assembly elections. Dikshit also said that the Mumbai terror attacks is not likely to have any impact on Delhi voters and asked not to politicise the issue. She drove to the polling booth at Nirman Bhavan here around 9:30am and cast her vote. Flashing a “V” sign, she said, “Obviously people will vote for the Congress which has provided better infrastructure and development to the city.” On BJP raising the issue of Mumbai attacks, Dikshit said, “I think people of Delhi like those in other parts, including Mumbai, know how it happened. We have to defend our sovereignty. “Look at the number of people who died. Our heart goes out for them. This is not a political matter. Don’t trivialise and politicise the issue,” she said. Source: LatestNews-Home - Livemint.com | 29 Nov 2008 | 5:59 am NRIs shocked but will invest!Wealthy Indians living overseas were shocked by the latest attacks on Mumbai.Source: Zee News : Business | 29 Nov 2008 | 12:50 am OPEC considers third supply cut to defend oil !OPEC prepared on Friday to consider its third output cut in as many months to defend oil prices.Source: Zee News : Business | 29 Nov 2008 | 12:50 am Suzuki to lay off 1,200 people at Hungarian plant!Japanese car manufacturer Suzuki announced on Friday that it would lay off 1,200 people, or almost a fifth of its workforce, at its plant in Esztergom, northwest of Budapest.Source: Zee News : Business | 29 Nov 2008 | 12:50 am `Terror attacks are to frighten economy`!The recent attacks on Mumbai that have left 132 dead and over 300 injured hinted at the emergence of a new dimension of terrorism.Source: Zee News : Business | 29 Nov 2008 | 12:50 am Telecom in India likely to touch revenue of $54 bn by 2012!Driven by growth in rural telephony and introduction of 3G services, the telecom industry is likely to touch a revenue of USD 54 billion by 2012, a report has said.Source: Zee News : Business | 29 Nov 2008 | 12:50 am IT stocks in green amid weakening rupee!Information technology scrips on Friday traded in the green gave on the benchmark bourse.Source: Zee News : Business | 29 Nov 2008 | 12:50 am Mumbai attacks `great tragedy`: Nilekani!Infosys Technologies Co-Chairman Nandan Nilekani termed it as the "very great tragedy".Source: Zee News : Business | 29 Nov 2008 | 12:50 am Market forces should have determined 2G license fee: TRAI!TRAI on Friday said that market forces should have determined the price of a licence.Source: Zee News : Business | 29 Nov 2008 | 12:50 am Wall St Week Ahead: U.S. stocks face dour jobs, retail dataNEW YORK (Reuters) - Wall Street may struggle to build on its best week in almost 30 years next week, as investors grapple with a raft of economic data, including the November jobs report, that will likely provide more evidence of a deep economic downturn.Source: Reuters: Money News | 29 Nov 2008 | 12:35 am U.S. shoppers seek deals, buy less on Black FridaySAN FRANCISCO/NEW YORK (Reuters) - Shoppers lured by money-saving deals filled U.S stores on Friday, but the annual kick-off to holiday shopping appeared weaker this year as worries about a deep recession kept purchases down.Source: Reuters: Money News | 29 Nov 2008 | 12:33 am Cyclone Nisha’s remnant proves a soakerThiruvananthapuram, Nov. 28 A remnant of Tropical Cyclone Nisha spun across the peninsula overnight and glided into the southeast Arabian Sea where it was traced as a feeble low-pressure area off the Kerala and south Karnataka coasts on Friday.Source: Business Line - Home Page | 29 Nov 2008 | 12:00 am Check out from hotel, airline stocksChennai, Nov. 28 Hospitality and airline stocks witnessed immediate slide following the terrorist attacks in Mumbai’s prestigious hotels.Source: Business Line - Home Page | 29 Nov 2008 | 12:00 am Trident Oberoi securedMumbai, Nov. 28 The terror siege at three different locations in Mumbai seemed never ending as the Taj hotel and Nariman House continued to be riven by explosions and gunfire right throughSource: Business Line - Home Page | 29 Nov 2008 | 12:00 am More than 20 firms line up for BSNL’s WiMax projectNew Delhi, Nov. 28 At least 20 companies have lined up to become a franchisee for rolling out WiMax based broadband services by Bharat Sanchar Nigam Ltd.Source: Business Line - Home Page | 29 Nov 2008 | 12:00 am Insurance cos bracing for large claimsBangalore, Nov. 28 Insurance companies are bracing themselves for large claims from Tata-owned Indian Hotels Ltd and the Oberoi- owned East India Hotels Ltd following the terror attacks on Taj and Trident-Oberoi hotels inSource: Business Line - Home Page | 29 Nov 2008 | 12:00 am GDP grows at 7.6% in July-SeptNew Delhi, Nov. 28 The Indian economy grew by only 7.6 per cent during July-September, down from the 9.3 per cent for the corresponding quarter of 2007-08.Source: Business Line - Home Page | 29 Nov 2008 | 12:00 am Market volatile; sentiment hitMumbai, Nov. 28 The stock indices ended flat on Friday as the market sentiment was hit by terrorist attacks in the country’s financial centre.Source: Business Line - Home Page | 29 Nov 2008 | 12:00 am Will safety concerns weigh on auto investments?Mumbai, Nov. 28 French automaker Renault’s decision to keep its corporate offices in Mumbai temporarily closed following the terror attacks clearly showed that it was taking no chances with employee safety. The company also issued aSource: Business Line - Home Page | 29 Nov 2008 | 12:00 am Platinum prices may decline to $700/ozChennai, Nov. 28 If the current crisis in the commodity market continues, platinum prices could drop to as low as $700 an ounce in the coming months as investors would prefer to cash to other investments, according to Johnson Matthey, anSource: Business Line - Home Page | 29 Nov 2008 | 12:00 am YES Bank’s Ashok Kapur killed in terror attackMumbai, Nov. 28 Mr Ashok Kapur, Non-Executive Chairman of YES Bank, fell to the bullets of terrorists who had laid siege to Hotel Oberoi in south Mumbai for over 40 hours beginning Wednesday evening.Source: Business Line - Home Page | 29 Nov 2008 | 12:00 am I didn’t announce price cut: Deora - Hindu
Source: Google News India - Business | 28 Nov 2008 | 10:33 pm Slowdown syndrome hits homeThe average rate of economic expansion during the first half of 2008-09 was only 7.8% compared with over 9% during the same period of the previous fiscal.Source: Daily News & Analysis: Money News | 28 Nov 2008 | 10:13 pm Asarco deal gets tricky for SterliteThe current market situation is making Sterlite Industries' planned acquisition of Asarco a tricky issue.Source: Daily News & Analysis: Money News | 28 Nov 2008 | 10:12 pm Security management in focusThe Mumbai siege has brought to the fore one of the deadliest threats to corporate houses, and one they can ill afford - lack of security.Source: Daily News & Analysis: Money News | 28 Nov 2008 | 10:11 pm Terrorism will not change insurance structureAs an aftermath of the terrorist attacks, many people have been rushing to insurance brokers demanding cover against such crises.Source: Daily News & Analysis: Money News | 28 Nov 2008 | 10:09 pm NBFCs face 'killer' NPA testNon-banking finance companies (NBFCs), already under pressure due to a shortage of funds and decline in revenuesSource: Daily News & Analysis: Money News | 28 Nov 2008 | 10:09 pm Government to open up FM radioLive broadcast of commentaries, information regarding sporting events, traffic and weather can be treated as non-news and non-current affairs programmesSource: Daily News & Analysis: Money News | 28 Nov 2008 | 10:08 pm The new boat peopleIt is just before dawn in the Strait of Hormuz. Through the pale mist, the mountains of Oman show up as shadowed silhouettes. Stars still light the sky above, while diamond sprays of water droplets fly off the brow of the Silver Whisper. In the peace of the sea, the only sounds come from the wooden boats hugging the Iranian coast and the dolphin shoals that abound the waters.  Set sail: (clockwise from top left) Beginning the day on a healthy note in the Panorama Lounge; Rodricks and his partner Jerome Marrel (extreme right) with Captain Pontillo; the Silver Whisper at port. Photo / Wendell Rodricks This is a great way to travel. We fly to Dubai on a Jet Airways flight and, minutes later, are at the cruise terminal. The first few hours on the ship are a joy, spent discovering this magnificent palace on the sea that will be home for 10 days. We wander through the open decks, past the pool, the shops, the casino (shut at ports) and vast gourmet restaurants. The suite is stocked with champagne and chocolates each day. Fresh flowers and Bulgari toiletries add to the glamour. Though sailors advise a suite mid-ship, as it makes for a smoother ride in rough weather, that is a non-issue on this cruise where the Arabian Sea is like a sheet of glass.  Old link: The Telegraph Island, from where a telegraph cable under the Indian Ocean ran all the way to Mumbai at one time. Photo / Wendell Rodricks After a heady Captain’s Welcome Party, where everyone looks as if they were dressed on The Poseidon Adventure film set, we dock early morning at our first port of call: Khasab. Often called the Norway of the East, Oman’s Musandam region—of which Khasab is the capital—must be one of the last untouched areas on earth, with rugged mountains leading into a sea so clear we can spot fish as if in an aquarium. We take a dhow to Telegraph Island (from where a submarine cable carried telegraphy once all the way to Mumbai), while some others opt for a safari to Harim mountain. We sail out into the sunset, after an Omani song and dance troupe waves us goodbye. The wonderful thing about cruises is that you sleep in one city and wake up in another. And so we find ourselves at Fujairah, in the UAE, the next morning. A vast port city with not much to do except a dune drive or a trip to the Ras al Khaimah mountains, where the landscape seems straight out of the Bible. You feel Charlton Heston will appear any moment from behind a rock with the Ten Commandments. If the modernity of Dubai and the dramatic landscape of Musandam leave you asking for more, Muscat certainly delivers it. Nestled in the mountains, in a cove where the sea is as blue as tanzanite, Muscat must be the most precious treasure in all of the Persian Gulf. The bustling bazaar is a veritable Alladin’s cave of delights. I purchase a 17th century Arabic mariner’s astrolabe, mapping the stars in turquoise stones studded in antique brass. I also splurge on silver headwear worn by women from the Dhofari tribes. These are serious museum pieces. To best enjoy Oman’s capital city, walk. In the old walled city, sand-coloured homes are stacked like toys. At the centre is the fabulous palace of the Sultan of Oman. At one time, he controlled all the waters from here till Africa and, in the 16th-18th centuries, the slave trade as well. It was from these regions that the Magi, the three wise men, carried gold, frankincense and myrrh to baby Jesus. Frankincense has a sweet but musky aroma that is quite unique and it’s an absolute must-buy in Muscat. In Muscat’s old walled city, sand-coloured homes are stacked like toys. At the centre is the Sultan’s fabulous palace After Muscat, we spend three days at sea: time to enjoy the ship, the crew, the passengers and the epicurean delights. Over the 10 days, the tables groan under 70kg of smoked salmon, 90kg of lobster tail, 180kg of cheese, 450kg of butter, 30kg of foie gras and 6kg of caviar. As for the wine and bar stock, let’s just stay it was premium all the way. The best part of Silversea Cruises (www.silversea.com), the high-end line that operates Silver Whisper, is their all-inclusive rate. There were no hidden extras, no tips and no bills (even for private parties you may wish to host on board). When we reach Mumbai, I throw a party for 30 and it’s a blast. The perfect gift to yourself is a cruise that begins in a foreign land and brings you home in the best style possible. Wendell Rodricks is a Goa-based fashion designer. Write to lounge@livemint.com Source: LatestNews-Home - Livemint.com | 28 Nov 2008 | 7:51 pm Luxury Notes | Boutique bonanzaThe Spot Mihir Garh Half-hour drive from Jodhpur; opens in February  The cost Minimum stay of two nights at around Rs37,000 a night per suite. Includes all meals, drinks (excluding imported alcohol), riding and excursions. The Spot Casa Colvale North-east of Anjuna Beach, north Goa The buzz Forgoing the beach for the backwaters, Casa Colvale offers a Goan experience off the beaten track. Each of the 12 luxury rooms overlooks the river Colvale, where guests can watch for buffalo and crocodiles. Beach bums can take heart, however—there are speedboats to ferry guests to the beach, as well as traditional Goan houseboats for more languorous jaunts. The cost Rooms start at Rs10,000, excluding taxes, during the high season from January to March. The cost includes breakfast. The Spot Ri Kynjai Twenty kilometres from Shillong, Meghalaya The buzz Nestled in the side of a cliff, Ri Kynjai, or “Serenity by the Lake”, looks out over Umiam Lake. It spans 45 acres of lush mountainous land near the base of the eastern Himalayas. All 11 rooms and five private cottages have huge balconies with scenic views. With a spa offering treatments based on the traditions of the Khasi and a nearby golf course, the emphasis here is firmly on relaxation. The cost Rooms start at Rs5,000, excluding taxes. Breakfast is included in the price. The Spot Neeleshwar Hermitage North Kerala; the resort is around 2 hours from Mangalore International Airport The buzz Twelve cottages with thatched roofs dot the coastline at this picturesque resort dedicated to health and spiritual well-being. In addition to a large Ayurvedic spa and daily meditation sessions, the resort avers by a strict eco-policy: Rainwater harvesting, solar panels and recycling are some of its eco-friendly initiatives. Less gentle are the bans on spirits and smoking. The cost Rooms start at Rs11,500, excluding taxes, during the high season of October-March. Source: LatestNews-Home - Livemint.com | 28 Nov 2008 | 7:45 pm Govt asks TV channels to show restraintNew Delhi: The government on Friday told news channels that they should have shown restraint in broadcasting live the movement of security personnel and commando operations that are currently underway following the terrorist attacks in Mumbai. The government put forth this view at a meeting convened by Anand Sharma, the minister of state for external affairs who currently holds the additional charge of information and broadcasting, and attended by representatives of various television channels. Officials representing the department of internal security and the ministry of defence at the meeting expressed concern that terrorists had access to television and Internet and could have benefited from the strategic information that they gathered from the live broadcast of operations, said a person who attended the meeting but did not want to be named. Responding to this, the broadcasters said everyone (the news channels) had initially underestimated the magnitude of the operations and that the local administration, too, did not impose any restriction on the television crew placing cameras at vantage points, considered too close to the scene of the attacks. “However, the channels had on Thursday evening complied with a directive that asked them to move the cameras a little distance away,” the person said. “We issued an advisory yesterday and everyone complied,” said Sushma Singh, secretary, ministry of information and broadcasting. The meeting concluded with both sides agreeing to work closer with each other in similar situations in the future, the person who was present at the meeting, said. Source: LatestNews-Home - Livemint.com | 28 Nov 2008 | 7:33 pm Govt, hotels want tighter security, hiring normsNew Delhi: In the wake of the terrorist strikes in Mumbai, the hospitality industry and the government administration that runs policies for the business are working to strengthen security in an age of urban terror. At least 74 guests at the prime properties— the Taj Mahal run by Indian Hotels Co. Ltd and the Trident-Oberoi complex owned by EIH Ltd—were killed in the attacks, the worst terrorist-inflicted casualty involving hotels in India. Click here to watch video The Union ministry of tourism on Friday said it will review basic mandatory safety and security norms it lays down for hotels applying for government-approved star classification. The last time the norms were reviewed was in 2003. “Basic standards on security have to be revised and norms have to be updated. Just like terrorists keep updating themselves, our standards need to too,” said Sudhir Sibal, vice-president (hotels) at India Tourism Development Corp. Ltd, or ITDC. The state-run firm is installing closed circuit television in the hotels “Once this (Mumbai situation) is over, we can sit down and work out plans and proposals with the hotel industry to review and improve the norms on security,” said a senior ministry official, requesting anonymity. Hotel chains said they were reacting immediately. Other security measures included increasing the number of security guards. “No one can be trained to deal with terrorists. A 24-hour cover at the key entrances is mandatory,” said Sarovar Hotels Pvt. Ltd executive director Ajay Bakaya. Sarovar, which has some 700 security personnel employed at at least 30 properties, plans to contact security consulting firms in India to help utilize such staff better, Bakaya said. Other than these immediate changes directly linked to security, recruitments, too, will see a rehaul, hotel industry executives and hiring consultants said, in light of reports that some of the attackers might have been hotel employees or had links with them, or at the very least knew the hotel layouts well. The hospitality industry has generally relied on references when recruiting new staff, and doesn’t have a history of doing security background checks before making any new hires. The largest employment screening firm in India, First Advantage Corp., said few among its around 1,000 clients are in the hospitality business. Audit and consultancy firm KPMG Advisory Services Pvt. Ltd, that also runs background verification checks, said that of its 70 clients, none are hotels. Hotels often rely on outside contractors to handle tasks from pruning the shrubs to fixing the plumbing. There are at least 30 workers on a five-star hotel’s premises on a given day, a manager at the New Delhi property said, who aren’t vetted by hotel management. The manager did not want his and his employer’s name taken. While most multinational firms operating in India, as well as many large Indian technology service companies, contract security firms to screen new hires before they are brought on board, the practice has yet to catch on for many smaller Indian companies, says Ashish Dehade, First Advantage’s managing director, West Asia. regina.a@livemint.com Source: Home - Livemint.com | 28 Nov 2008 | 7:29 pm Commandos free nearly 200 after attacksMumbai: Commandos freed more than 200 hostages from the Trident hotel complex on Friday and were attempting to root out as many as six terrorists still in the Taj Mahal Palace and Tower hotel. As night fell, an operation to secure hostages held in a Jewish centre was still in its final stages, police officer Hassan Ghafoor said, although commandos emerged from the building with their rifles raised in an apparent gesture of victory. Also See 40 hours later (PDF) Attacks on two hotel complexes and several other locations in the country’s commercial centre late on Wednesday left 124 people, including 15 policemen, dead and 370 injured in 36 hours of fighting. Nine terrorists were killed and one, a Pakistani, was arrested, said R.R. Patil, deputy chief minister of Maharashtra. “We are in the final stages of operations,” army Lieutenant General N. Thamburaj told reporters. Thirty bodies were recovered from a hall in the Taj. Bodies and blood were everywhere in the hotel, navy commandos said. Eight foreigners were among those killed in the coordinated shootings and explosions across India’s financial hub two days ago. The targeting of Westerners marks a shift in tactics for Islamic militants in India as they strike the international links that have helped the country’s economy grow at 9% or more for each of the past three years. “According to preliminary information, some elements in Pakistan are responsible for Mumbai terror attacks,” external affairs minister Pranab Mukherjee told reporters in Jodhpur. “Proof cannot be disclosed at this time,” he said, adding that Pakistan had assured New Delhi it would not allow its territory to be used for attacks against India. Earlier on Friday, Pakistan’s defence minister Ahmed Mukhtar, in Islamabad, denied the involvement of his country: “I will say in very categoric terms that Pakistan is not involved in these gory incidents.” The attacks, the worst in the country’s financial capital since train blasts in July 2006 that killed 187 people and injured more than 800, began with explosions and gunfire ringing out across the city. On Friday, two large explosions were heard at the Taj hotel, where six hostages were freed. One National Security Guard (NSG) commando was killed at the hotel, where a fire broke out after a further explosion. At the Trident complex, rescued guests, many clutching passports and bags, were loaded into buses and cars by authorities. Fifteen Air France staff members were freed from one of the hotels, the airline said. The Trident complex was cleared of assailants and 24 bodies were recovered, an NSG officer said on television.Two terrorists were killed at the Trident, where guests were receiving first aid. Twenty-two foreign nationals were among those injured in the attacks, according to Mumbai police. Commandos emerged from a besieged Jewish centre, the Nariman House, with rifles raised in an apparent sign of victory after a daylong siege that saw a team rappel from helicopters and a series of explosions and fire rock the building and blow gaping holes in the wall. As many as four gunmen held six Israelis hostage at the centre, officials said. One commando died. All four terrorists were also killed, CNN-IBN channel said. In Jerusalem, the Israeli rescue service said five hostages and two gunmen were killed at the centre. The building is home to the Chabad-Lubavitch Centre, a Brooklyn-based Hassidic group. A rabbi, his wife and several other people were being held hostage, Menachem Brod, a spokesman for Chabad, said in a telephone interview. feedback@livemint.com Source: Home - Livemint.com | 28 Nov 2008 | 7:22 pm Markets dull but Oberoi co scrip gainsStock and commodity traders preferred to stay away from the markets that opened after an interval of a day after the terrorist impasse in Mumbai continued for the third day.Source: Business Standard | Front Page Headlines | 28 Nov 2008 | 7:04 pm Yes Bank Chairman Ashok Kapur killedAshok Kapur, the non-executive chairman of private sector lender Yes Bank, has been killed by terrorists in the Trident-Oberoi hotel complex in Mumbai.Source: Business Standard | Front Page Headlines | 28 Nov 2008 | 7:02 pm Q2 growth betters estimates, economists unmovedThe Indian economy grew at a better than expected rate of 7.6 per cent in the second quarter ending September, though economists continue to predict growth below 7 per cent for the fullSource: Business Standard | Front Page Headlines | 28 Nov 2008 | 7:02 pm Endgame in sightMumbai inched closer to win its latest battle against terror, with the National Security Guard (NSG) taking control of the Oberoi Trident Complex and Nariman House, an office building that houses aSource: Business Standard | Front Page Headlines | 28 Nov 2008 | 7:01 pm India’s 9/11, but is instant knowledge desirable?It was like any other evening. The television was on and the anchors were haranguing us and their studio guests, inevitable, given the huge pressure that prime time television news bulletins face, especially towards the end of the week, from all the so-called most-watched reality shows on entertainment channels.  Every minute the news channels updated us on the “terror attack” that by now engulfed virtually all of south Mumbai. While the citadels of power and clout were under siege, the attack also targeted the “common man”—railway stations, hospitals, random firing on the street—and even acted with impunity against the combined force of the state apparatus. The attackers had achieved what they set out to do: create panic, challenge the power of the system and wipe out the cream of the leadership, the men in charge of the combat operation against terrorism. By midnight, the whole situation was terrifying, to say the very least, and certainly not making any sense to us. Yet, most of us found it difficult to switch off the news or wait till morning for some coherent explanations. We were not interested in explanations, we were witnessing something mind-boggling with visuals that we usually associate with fiction, CGI and reconstructed drama. While some part of us was trying to be rational and trying to treat the event like any other news report, it soon became clear that this was a situation beyond our comprehension. Our overwrought imagination took over and the need to witness the end of this terrible and mindless violence reached a feverish pitch. The rescue operation was comforting and when we saw people coming out of the places under siege or being helped out, the agony lessened and the night seemed less frightening. The powerful image of the commandos was very reassuring. Despite all this, we continue to wonder whether the entire media spectacle is necessary or not. Does it make a difference? As a nation are we ready for such candid and minute-by-minute coverage? Can we say with utmost confidence that all this imagery will not add to the existing rancour, deepen the social polarization and distrust, sharpen the “us and them” feeling and justify emotions of retaliation and revenge? What better way to react than to adopt the same “Rambo” methods and use firearms to mow “them” down? In all fairness, this time around, the media is trying very hard to not romanticize the situation, to a great extent reporting officially confirmed news and also allaying the anxiety of people by constantly reminding viewers that this is a complex operation. We are being told incessantly that what we are witnessing is the best in terms of combat and rescue operations because what the National Security Guard and the Armed Forces are dealing with is not conventional warfare but the most devious form of subterfuge and a nefarious design to destabilize the nation by striking at its commercial capital, terrorizing foreign investors and friends and testing the resilience of the people of the city. 11/26 has been declared India’s version of 9/11 and the media expect that this time around the nation will not tolerate any compromises with forces of “terrorism”. Politicians will have to bury their hatchets and work for a national agenda. But will we take this debate forward without adding to the fury and initiating a blame game? Will the media stay the issue and draw the right lessons from this entire episode? At the end of the day, the question that needs to be asked is whether it was necessary to see the entire event in minute progression? Even if we think the event was of great urgency for the viewing public, was it necessary to show all the imagery around it, including the pandemonium on the streets? Are we not in some sense doing what we have done all along, and precisely what we did with the unforgettable hijack of Indian Airlines’ IC184? We raised that issue to a feverish pitch, tracked the incident from minute to minute and when it finally ended we were all greatly relieved and, of course, as a nation decided to move on, but we were certainly not any wiser or more unified on the issue. Till today, politicians use that incident and the others that followed it to lob accusations and counter-accusations on who is more serious about fighting terrorism. Akhila Sivadas is executive director of the Centre for Advocacy and Research in New Delhi. Write to us at feedback@livemint.com Source: LatestNews-Home - Livemint.com | 28 Nov 2008 | 6:56 pm Luxury Notes | Kings of the jungleIf there’s one name that wildlife junkies and conscientious tourism promoters quote with respect in the context of travel to Africa, it is CC Africa. In India, under its new name &Beyond, they have tied up with Taj Safaris to launch two new properties in Madhya Pradesh—after Mahua Kothi in Bandhavgarh, and Baghvan in Pench—at Banjaar Tola in Kanha, and Pashan Garh in Panna.  Dusk: The Taj property at Banjaar Tola has nine tented suites. DookPhoto Despite the minimally invasive construction, each suite has its own private deck, tribal-influenced décor and what they call eco-friendly air conditioning. At Pashan Garh, guests stay in 12 cottages atop a small hill which have been inspired by the local dry-stone construction technique. Each cottage has magnificent views of the forests and a nearby watering hole. Khajuraho is an hour away. At both lodges, you can expect the services of &Beyond-trained naturalists, travel in specially designed 4x4 safari vehicles, watch birds and a rich diversity of wildlife. Prices during the high season (till 15 April) are Rs30,000 per person per night on a sharing basis; in low season (16 April-30 June), they drop to Rs18,000. The rates cover accommodation, all scheduled safaris and meals, alcohol, laundry, emergency medical evacuation and park fees and government taxes. Visit www.tajsafaris.com for more information. Source: LatestNews-Home - Livemint.com | 28 Nov 2008 | 6:39 pm Luxury Notes | Water of lifeCome January, hundreds of whisky lovers, business heads and CEOs will congregate in New Delhi. The occasion? Whisky Live, the premier platform for whisky connoisseurs, where more than 150 variants of the best whisky brands from Scotland, Ireland, Japan, US and Canada will be on offer. More importantly, it will give whisky lovers in India a chance to mingle, while sampling—if you can manage it—every one of those 150 varieties (at least 20,000 glasses are used at most events).  Keep drinking: Attendees can choose from 150 varieties of whisky. The man responsible, Sandeep Arora, is a long-time whisky aficionado, having introduced to India rare whiskies such as the Glenfiddich 50 (a single peg of which costs about Rs70,000), as well as representing Whisky Magazine in the country. “Imagine entering the venue as someone who may or may not know much about whisky. You’ll have the best resources around you. Stalls set up by the biggest brands, informed tastings by them, so much to see and learn, all under one roof,” Arora says. Entry is by invitation only, and the guest list for the 31 January event at Leela Kempinski, Gurgaon, includes names such as Vijay Mallya, who was named Whisky Ambassador at the Whisky Awards earlier this year, Damian Riley Smith, publisher, Whisky Magazine, and Gavin Hewitt, CEO, Scotch Whisky Association. In addition to schmoozing with like-minded souls, guests can attend master classes, tastings, learn about whisky cocktails and, more importantly, how to pair it with coffee, chocolate and food. It will be a revelation for those who want to “go beyond Black Label and butter chicken”, Arora says. Visit www.whiskylive.com for more information. Source: LatestNews-Home - Livemint.com | 28 Nov 2008 | 6:37 pm Under cover1. Mang zari quilt: At all Fabindia outlets, Rs2,170 (queen-size). 2. Milan off-white duvet: At Address Home, Khan Market and Hauz Khas Village, New Delhi; and Raghuvanshi Mills Compound, Senapati Bapat Marg, Mumbai, Rs12,000 (king-size). Also See: PDF 3. HMS Jr quilt: At Good Earth, Khan Market, and Select Citywalk mall, Saket, New Delhi; and Raghuvanshi Mills Compound, Senapati Bapat Marg, Mumbai, Rs2,250 (single). 4. Iznik red duvet: Marco Polo Collection by Maishaa at Maishaa, Square One mall, New Delhi, Rs19,195 (king-size). 5. Quilt with zig-zag embroidery: At Maspar stores in New Delhi, Mumbai, Bangalore and Pune, Rs3,695 (queen-size). 6. Summer natural duvet: At Whites of London, Mega Mall, DLF Golf Course Road, DLF Phase 1, Gurgaon; City Square Mall, Rajouri Garden, New Delhi, Rs10,000 (king-size). 7. Mosaic art quilt: At Maspar stores in Delhi, Mumbai, Bangalore, and Pune, Rs7,495 (queen-size). 8. Capri duvet: At Whites of London, Mega Mall, DLF Golf Course Road, DLF Phase 1, Gurgaon; City Square Mall, Rajouri Garden, New Delhi, Rs9,580 (king-size). 9. Razai: At Anokhi, 9, Khan Market, New Delhi; and Govind Dham, 210, Waterfield Road, Bandra West, Mumbai, Rs1,550 (single). 10. Square-pattern duvet: At Address Home, Khan Market and Hauz Khas Village, New Delhi; and Raghuvanshi Mills Compound, Senapati Bapat Marg, Mumbai, Rs11,000 (king-size). 11. Snooze comforter: At Bombay Dyeing stores countrywide, Rs1,549 (queen-size). Photographs by Ramesh Pathania / Mint Source: LatestNews-Home - Livemint.com | 28 Nov 2008 | 6:34 pm Channels go off, on again in MumbaiMumbai: News channels here went off the air for a little more than two hours on Friday after the city’s police department asked cable firms to block channels, and came back on air only after the Union home ministry’s intervention in what is perhaps the first instance of the police using the provisions of a legislation that regulates the cable television business to pull channels off air. Shortly before noon, Sheela Sail, the deputy commissioner of police (enforcement), Mumbai, sent a letter to some cable operators asking them to block news channels, citing the impact on the people of their coverage of the ongoing terror attacks in the city and claiming that this coverage was also giving terrorists prior information of police action. The move came after certain news channels ran unconfirmed reports about fresh terror attacks in Mumbai. On Thursday, industry body News Broadcasters Association (NBA) took a stab at self-regulation and said its members, almost all news channels in India, would not air coverage that threatened to impede police action or create panic among the viewers. Annie Joseph, the secretary of NBA, said the body had sent an advisory to this effect late Thursday evening to member channels. Most cable firms complied with the police directive and news channels went off air in several parts of Mumbai, including central Mumbai where the Mint office is located. When contacted at the time, Ashok Mansukhani, president, Multi Systems Operators Alliance, a trade body representing cable firms, said no news channels had been blacked out. The home ministry revoked the ban at around 2pm. Jagjit Kohli, MD and CEO of cable firm Digicable Network (India) Pvt. Ltd, said the directive that forced major operators to take channels off air was reminiscent of the time when cable operators were held liable for movie channels showing adult films. Raj Nayak, CEO of NDTV Media Ltd, said that most news channels were displaying restraint in coverage and were not airing live operations being conducted by security forces on ground. “Any kind of a blackout of news channels will only give rise to rumours amongst audiences,” he added. That and the fact that the directive sought to curtail freedom of expression would appear to be the reason most broadcasters reacted negatively to the Mumbai police order. Most news channels did not run ads on Friday, and they ran none on Thursday. “Yesterday, most English channels did not go into ad-breaks, and continued with uninterrupted coverage, which, in fact,was the right thing to do,” said Sam Balsara, chairman and MD of Mumbai-based media agency Madison Communications Pvt. Ltd. Last year, ad revenues across media in India touched Rs17,356 crore with 8-10% of this amount going to news channels, said a media buyer on condition of anonymity. A legal expert said freedom of press is not an “absolute” right and that the state could enact laws to impose “reasonable restrictions” on the exercise of the right to freedom of speech and expression. The imposition of Rule 6 of the Cable Television Networks Rules, 1994, to stop the media from relaying information on police operations against terrorist attacks in Mumbai is a “necessary restraint”, said senior counsel P.P. Rao. Rule 6 provides a list of restrictions on the nature of the content relayed by cable services. Another legal expert said he didn’t think self-regulation would work for media. “Waiting for the media to regulate itself has become an endless process. Also, since the recommendations of the Press Commission to add some teeth to the Press Council have not been implemented, it is high time the executive stepped in,” said Supreme Court advocate Gopal Sankaranaryanan. Still, self-regulation is better than arbitrary decisions imposed by others, said Abraham Thomas, COO, Red FM Digital Radio Broadcasting Ltd. “Whether self regulation can work for the media depends on whether the code is real, enforced, uniform and evolved. Also, if everyone abides by it, and there are no ambiguities in the interpretation. In cases where self-regulation has not worked, it could be because there’s something wrong with the code.” Malathi Nayak contributed to this story. Source: Home - Livemint.com | 28 Nov 2008 | 6:24 pm India has to show it is safe for businessIndia’s terrorist attacks are a watershed moment in the subcontinent’s fragile history—and perhaps for global markets. It doesn’t look like the Mumbai massacre—which has killed more than 100 people and injured nearly 300—will cause the Indian stock market to collapse, but the extremists have targeted tourists and the financial district critical to India’s growth and international standing. Click here for breakingviews.com  But security is often a weak point in developing countries—and the fear of violence can derail otherwise sound economies. The Mumbai attacks add more than political instability to the investment equation. They will make foreigners think four or five times before visiting India. Traders can work from anywhere, but international banks and businesses need people on the ground. Visiting bigwigs will now be less willing to stay at high-end business hotels like the Oberoi and Taj Mahal, which were at the heart of the attacks.  Investment equation: Firefighters battle a blaze at the historic Taj Mahal Palace and Tower hotel in Mumbai on Thursday. Ruth Fremson / NYT International investors and businessmen can’t expect the Indian government to create perfect religious harmony, but they will want to see that the authorities are fighting back with some success. India has its work cut out to demonstrate that it’s still an attractive place to do business. Source: Home - Livemint.com | 28 Nov 2008 | 5:33 pm Isro delays switching on of 2 Chandrayaan instrumentsBangalore: The Indian Space Research Organisation, or Isro, has delayed until January, the switching on of two instruments on board its unmanned lunar spacecraft ‘Chandrayaan-1’ due to the onset of summer on the moon when temperature on its sunlit side rises to as high as 100 degrees Celsius.  Protective measures: A file photo of Chandrayaan-1 taking off at the Satish Dhawan Space Centre in Sriharikota. AP Isro, however, said other instruments on ‘Chandrayaan-1’ will continue to work. “Our thermal systems control the (internal) temperature to less than 50 degrees (Celcius),” said M. Annadurai, project director of the mission at Isro. “It is safer to switch it (the two instruments) on after summer.” The moon has its summer between November and January, a period when temperature rises to 100 degrees Celsius on the sunlit side of the earth’s satellite, while temperature drops to minus 100 degrees Celsius on the darker side of the moon. Space scientists are getting data and images from the seven instruments on the probe since it reached its orbit of 100km above the moon’s surface on 12 November. The mission was launched on 22 October. “We knew about the high temperature variations on the moon. It is not a surprise,” said Annadurai. Source: Tech News - Livemint.com | 28 Nov 2008 | 5:31 pm RBI extends scope of liquidity measuresMUMBAI (Reuters) - The Reserve Bank of India (RBI) said on Friday it will extend a special refinance facility for banks until June 30, 2009, and will also make available concessional credit to exporters for a longer period of time.Source: Reuters: Money News | 28 Nov 2008 | 5:27 pm 250 brands to participate in Franchise India-2008Over 250 Indian and global brands will likely participate in Franchise India-2008, a two-day international event on franchise, retail and licensing industry beginning here Saturday, organisers said.Source: IndiaeNews.com: Business News | 28 Nov 2008 | 3:01 pm Hospitality, travel sectors will suffer in short term: IndustryThe meltdown-hit travel trade and hospitality industry will have to weather another storm, thanks to the terrorists's siege of two hotels in Mumbai since Wednesday night. But industry watchers and captains predict that it will only be a short-term assault on business.Source: IndiaeNews.com: Business News | 28 Nov 2008 | 3:01 pm Government ignored suggestion for auctioning 2G spectrum: WatchdogIndia's telecom watchdog Friday said the government ignored its suggestion that the second generation (2G) radio waves be auctioned, which would have generated higher revenue.Source: IndiaeNews.com: Business News | 28 Nov 2008 | 2:30 pm Court asks insurance companies to be consumer friendlyA consumer court Friday reprimanded insurance companies for rejecting claims on flimsy grounds and asked them to be consumer friendly.Source: IndiaeNews.com: Business News | 28 Nov 2008 | 2:00 pm Carborundum Universal's subsidiary to invest $50 mn in RussiaCity-based Carborundum Universal Ltd (CUMI), a leader in the abrasives and ceramics market, Friday said its Russian subsidiary Volzhsky Abrasive Works (VAW) will invest $50 million to build a new plant in that country.Source: IndiaeNews.com: Business News | 28 Nov 2008 | 2:00 pm
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