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IPL: The Dirty Picture

Posted by Admin on May 30, 2012

http://cricket.yahoo.com/news/ipl–the-dirty-picture-.html

By Bhavna Vij-Aurora, Dhiraj Nayyar and Shantanu Guha Ray | India Today – Mon 28 May, 2012 1:01 PM IST

By Bhavna Vij-Aurora, Dhiraj Nayyar and Shantanu Guha Ray

A late-night bust-up involving charges of molestation and assault at a hotel suite in Delhi booked in the name of Indian Premier League (IPL) franchise Deccan Chargers on May 18. An early morning Income Tax raid at the offices of Pune Warriors and Royal Challengers Bangalore on May 23 following a TV sting operation in which five fringe players were caught striking deals on spot-fixing and switching teams for more money. A brawl at Wankhede Stadium leading to a five-year ban by the Mumbai Cricket Association on Shah Rukh Khan on May 16. It was a week from hell for IPL. And the week promised to stretch into a long year.

Around 6.30 p.m. on May 22, Zohal Hamid, 27, was giving yet another live interview on her now famous charge of molestation by Royal Challengers Bangalore (RCB) player Luke Pomersbach. The incident acquired bizarre momentum, especially after her ‘fiance’ Sahil Peerzada, 33, was hit by Pomersbach and she turned out to be close to a defence agent. India Today was present at the plush farmhouse of her “rakhi” brother Abhishek Verma, an accused in the naval war room leak and under investigation for his suspected role in defence deals. Sahil made a dramatic entry while she was on camera. “How dare you speak to the media without my permission?” he asked. Zohal placated him and they then drove off in Verma’s Hyundai Sonata. Both she and Sahil then went incommunicado. Clearly, they had received instructions to go quiet. Some deal had been struck to cover up an intoxication-fuelled, unscripted drama that threatened to blow apart the nocturnal mix of sex and money that plays behind the televised scenes of IPL. Sahil and Zohal met their lawyer Rajneesh Chopra who had worked out a compromise with RCB owner Sidhartha Mallya, who had so charmingly described Zohal’s allegations against Pomerbasch as a “load of f…..g s..t” in a tweet. On May 22, Zohal agreed to withdraw her case against Pomersbach and drop the defamation threat against Mallya, who has not even deigned to remove the offending tweets from his account-another said “what this girl is doing is idiotic”. On May 23, though, he tweeted, “So glad all charges have been dropped and Luke can return Down Under a free man!”, followed by “Oh and btw, I know ppl can be cynical, so just so u know, the settlement wasn’t financial in any way!”

These shenanigans took TV cameras into the bedroom, the last thing IPL wanted as its oversold carnival becomes a sordid circus. The manufactured silence was designed to avoid some basic questions:

  • Why did Deccan Chargers book a Rs 20,000-a-day suite for Sahil at ITC Maurya?
  • What is Sahil’s connection, if any, with cricket and IPL?
  • What is Zohal’s real link with Sahil? She claims he is her “fiance”. Sahil is a trifle hesitant about the honour.
  • Why was Zohal sleeping in Sahil’s suite if she was not booked there?
  • Why were two men, Miraj and Moin, sleeping in Sahil’s room?
  • Why was RCB hosting an after-party despite an IPL ban on them in 2010?

The mystery became more mysterious with Verma’s involvement. His former New York-based business partner and lawyer C. Edmonds Allen claims that Zohal was an employee of Ganton Indian Private Limited, and that he recommended her for a visa to visit India on Verma’s request last year. Allen is the president of Ganton, which he claimed he set up to handle $205 million (Rs 1,127 crore) made by Verma through arms deals and lobbying for defence firms. Verma denies any link with Ganton and claims that Zohal too has nothing to do with Ganton. He says “my wife Anca Neacsu is best friends with Zohal” and recommended her for an Indian visa through Allen.

THE BOOKIE UNDERBELLY

Born in Afghanistan to an Afghan father and an Iranian mother, Zohal’s family migrated to US in the late 1980s. Now an American citizen, she works for a cosmetics company in New York as a sales manager. She did part of her schooling in India, where she picked up conversational though accented Hindi. She went to Rutgers University in New York. After watching her first IPL match on May 17, goes her story, she landed at the RCB party and in the room booked by Deccan Chargers at ITC Maurya. Every answer begs a further question.

But Rajiv Shukla, who took over as the IPL commissioner in September 2011 and is also a Union minister, has no answers, except an evasive one. “I am the IPL commissioner, not police commissioner. I have nothing to do with what is happening in the hotel room.” The fact that he mentioned “police commissioner” involuntarily speaks for itself. He believes media is exaggerating the problems of the league by highlighting stray off-field incidents. He does not deny knowing Sahil Peerzada. “He is the son of a Congressman,” he says. Sahil’s father, Peerzada Ghulam Mohammed, who died in 1994 at the age of 52, was a ticketing agent at the Sopore (J&K) bus stand in the 1970s, and went on to become a junior-level Congress leader. The family migrated to Mumbai in 1992.

Sahil’s brother, Feroze, says he has a real estate business in Mumbai, as well as two Kashmir handicrafts showrooms at the Leela in Bangalore and near Pavilion Mall in Kuala Lumpur. But Sahil’s reputation has been made in bedrooms rather than boardrooms. He is a serial dater of semi-famous women such as TV actors Shama Sikander and Gauhar Khan. Deccan Chargers is silent about why they rented such an expensive suite for him. Manjula Harpanahalli, media coordinator for Deccan Chargers, told India Today that they had no comments to offer. Repeated calls and text messages to E. Venkatram Reddy, director (operations), Deccan Chargers, went unanswered.

Investigating agencies are silent but taking a keen interest in the events. They have been busy. There has long been a suspicion that IPL is a breeding ground for bookies. Days before the start of the tournament, CID officers of Mumbai Police traced a conference of bookies from all over India huddled inside a five-star hotel room in Mumbai to plan their strategy: Essentially, to cooperate in the milking of those who like a flutter.

On May 17, when Chennai Super Kings was taking on Kings XI Punjab, Arun Chavan, head of Mumbai Police’s Property Cell, arrested two well-known bookies from a Lokhandwala flat. Devendra Kothari, 42, and Sonu Jalan, 30, were taking bets on the crucial match. Both were arrested immediately and 20 mobile handsets, a dozen SIM cards, two laptops, two voice recorders and an LCD T recovered. They led the police to another bookie, Mohammad Feroze Ansari, 38, from Nagpada in Mumbai. On May 19, the police arrested him too. The probe has now moved to Delhi. A team from Mumbai Police left for Delhi on May 21. Their goal: Check the truth in Kothari’s claim that he paid Rs 10 crore to a Sri Lankan cricketer to fix a one-day international match in 2006. “We cannot reveal the name of the Sri Lankan player. Investigations are still on,” said Mumbai Additional Commissioner of Police Vishwas Nangre-Patil.

In Delhi, the police confirmed that Kothari and Jalan were part of a global betting racket and among 170 suspects scheduled to visit Sri Lanka to fix matches. “There was to be a meeting in Colombo in anticipation of the fourth T20 World Cup which will take place in Sri Lanka. But it was cancelled,” says Brijesh Kumar Gupta, Delhi’s police commissioner. The police’s suspicions about a Colombo meeting were confirmed when a woman they picked up on May 19 from Delhi for possessing cocaine confessed to her involvement in the betting racket and said she was to travel to Colombo. On May 24, Delhi Police busted a betting racket in west Delhi, unearthing a mini-telephone exchange comprising 113 lines used for transmitting information about rates to over 300 betting syndicates across India.

India’s betting laws date back to the Public Gambling Act of 1867. Bail, therefore, is guaranteed for a paltry Rs 100 and allows bookies to get free within days of their arrest. No one has bothered to change this. “There’s very little time for questioning. And rarely are the big fish netted because the bookie chain is inordinately long,” says Gupta. This year alone, Delhi Police conducted more than 75 raids on bookies in Delhi and arrested over 100 people placing bets on IPL, the highest since the tournament started four years ago. The core problem hampering investigations is that there is no complaint, says Gupta.

ULTIMATE SECRET SOCIETY

Cricket is hardly the primary activity in IPL. The large, growing and dark circle around the field includes a secret society of franchise owners, pretty party girls and men of unknown means. Presiding over this is the Board of Control for Cricket in India (BCCI), which has ensured lack of transparency. BCCI is a registered society completely autonomous from the Government. It only started paying income tax in 2007 after authorities decided that it wasn’t simply a charitable organisation “promoting the sport of cricket”. In the effort to become successful, IPL has cut corners. Interpol wanted to investigate the bookie phenomenon and and asked for Rs 90 crore as expenses, just as it had asked FIFA when it set out to investigate football sleaze. FIFA paid. International Cricket Council (ICC) President Sharad Pawar refused. Very conveniently, ICC’s Anti Corruption Unit was hired. “If ICC had hired Interpol, cricket’s cleansing process would have begun. But that did not happen,” says Union Sports Minister Ajay Maken.

In 2011, IPL had hit a ratings low. A new model was sought to be created, as highlighted in broadcaster Set Max’s ads which encouraged viewers to watch the game on the ground. Rajiv Shukla says that the average gate receipts for the 2012 season will be Rs 30 crore for each franchise. He also argues that the decline in TAM TRP ratings, from an average of 4.81 in IPL-1 to 3.33 in IPL-5 so far, is misleading because the goalposts have changed. “The ratings of even the most popular entertainment programmes have fallen as a result. IPL is still doing very well on television,” he says. Shukla is also buoyant about overseas revenues.

EVADING THE TAX NET

All nine IPL franchises have been under the scanner of the Income Tax Department after a report of the Parliamentary Standing Committee of Finance in July 2011 instructed tax officials to scrutinise the accounts of all IPL teams. What aroused the suspicion of the Standing Committee was a wide discrepancy between the annual financial returns statements for the assessment year 2008-09 and the assessment year 2009-10. For the year 2008-09, also the first year of IPL, three of the eight franchises, Mumbai, Chennai and Deccan Chargers, showed nil loss. The remaining five showed minor losses-Rajasthan Rs 6 lakh, Punjab Rs 14 lakh, Kolkata Rs 50 lakh, Bangalore Rs 79 lakh and Delhi Rs 2.92 crore. In 2009-10, each franchise reported huge losses-Rajasthan Rs 35.5 crore, Punjab Rs 65.68 crore, Kolkata Rs 11.85 crore, Mumbai Rs 42.89 crore, Chennai Rs 19.3 crore, Bangalore Rs 5.58 crore, Deccan Rs 87.09 crore and Delhi Rs 47.11 crore.

There was no particular reason why losses should have mounted so steeply. The player auctions had been conducted before IPL-1. The cost of players would be the same for IPL-2. The revenue streams would have been greater-the success of IPL drew more advertisers and spectators to the second edition. The only reason for higher costs was the move to South Africa, but that alone could not explain the wide discrepancies. According to sources at the Income Tax Department, while the assessment is complete, investigation is ongoing and franchises have been asked to furnish details.

There are several other issues of apparent financial irregularities red-flagged in the report of the Standing Committee. At least four teams-Rajasthan Royals, Kolkata Knight Riders, Kings XI Punjab and Mumbai Indians- received investments from abroad from tax havens such as Mauritius, Bahamas and British Virgin Islands. BCCI, in its reply to the committee, put all the blame on former IPL commissioner Lalit Modi. Even if true, and that is not proven, how does this exonerate the franchise owners who got the money from questionable unnamed sources? The Enforcement Directorate (ED), charged with investigating these violations, said its investigations have not been completed.

Even BCCI and IPL are under investigation by ED and Reserve Bank of India for operating bank accounts along with Cricket South Africa during IPL-2 without permission. IPL Commissioner Shukla shrugs aside the allegations of financial irregularities, just as he dismisses anything in convention with his usual bluster.

PLAYERS DON’T HAVE LEVEL PLAYING FIELD

There are other problems, inbuilt into IPL, which have created irregular incentives for players. In 2010, all-rounder Ravindra Jadeja was banned from season 3 of IPL for trying to negotiate a contract in violation of league rules. Jadeja, who at the time had not played for the IndianTP Sudhindra national team, was entitled to a salary of Rs 25 lakh, not more, set by the IPL Governing Council. Already a rising star in his franchise, Rajasthan Royals, Jadeja believed he deserved more money. This perverse rule on pay caps for Indian players who have never represented the country has made them vulnerable to the lure of illegal negotiations with franchises and offers from bookies. Curiously, no such cap is applicable to foreign players who have not represented their countries.

A recent TV sting operation on five Indian players who have never represented India revealed the dangerous consequences. The players- TP Sudhindra (Deccan Chargers), Shalabh Srivastava (Kings XI Punjab), Mohnish Mishra (Pune Warriors), Amit Yadav (Kings XI Punjab) and Abhinav Bali-were caught on camera either offering to indulge in spot-fixing or ready to negotiate with other franchises or admitting that their franchises paid them significantly more than the official figure, in cash. An underground economy is clearly thriving in IPL. Modi, the creator of IPL and commissioner in its first three editions, admits that not auctioning uncapped players was a mistake.

There are several possible reforms that can salvage the situation:

  • No player should be retained by a franchise without an auction. In 2008, for example, M.S. Dhoni was bought by Chennai Super Kings at the highest bid price of $1.5 million (Rs 7.5 crore). He was not put up for auction for the 2011 and 2012 seasons in which Gautam Gambhir came out on top with a bid price of $2.5 million (Rs 12.5 crore) from Kolkata Knight Riders. It would be unreasonable to expect Dhoni to have commanded anything less in an open auction.
  • The only players not subject to an auction in IPL-1 were the icon players-Sachin Tendulkar (Mumbai), Rahul Dravid (Bangalore), Sourav Ganguly (Kolkata), Yuvraj Singh (Punjab) and Virender Sehwag (Delhi). Each was, however, to be paid a 10 per cent premium on the highest bid paid out by their team in the open auction. There was some transparency then. Now, with the icon system being replaced by the system of retaining players (icons or not), no one knows how much players are being paid, whether by cheque or in cash. Says Modi, “No one should be allowed to be retained. If a player is important for the franchise, let them bid for him.” Rajiv Shukla also recognises the opacity of retaining players. “We will consider revising this in our next Governing Council meeting,” he says.
  • There should be an independent regulator for sports. “No one is being able to self-regulate. If not for anything else, let the regulator look into the alleged financial bungling of the state cricket associations,” says Ajay Maken. “Put rules in place, things will start moving,” says Bishen Singh Bedi. The former Indian captain says it’s time BCCI auctions each player every year. “Let there be transparency, let us see who is paying what for whom. Let the juniors get a price for themselves so that they do not take money under the table,” adds Bedi.

POLITICS OF CRICKET

IPL would not have survived its serious flaws were it not for a strong cross-party political alliance lending its weight. Shukla is a prominent minister. Arun Jaitley, leader of the Opposition in the Rajya Sabha, is on IPL’s Governing Council and heads its legal and disciplinary committee. The cricket establishment of BCCI and its regional components are packed with powerful politicians. Four are members of the Union Cabinet-Nationalist Congress Party chief Sharad Pawar (ICC president), Congressmen C.P. Joshi (president, Rajasthan Cricket Association) and Vilasrao Deshmukh (president, Mumbai Cricket Association), and Farooq Abdullah (president of the J&K Cricket Association) of the National Conference. The quartet has successfully stalled Maken’s attempts to legislate a sports bill that will force BCCI to be more accountable. “What can I do if no one wants to clean the dirt from cricket?” says Maken.

Shukla says there is no need for BCCI to be under the Government. “We don’t take a penny from the Government. And we have made a global name for ourselves,” he says. The cricket establishment can count on some support from outside the Government. Apart from Jaitley, Anurag Thakur, a BJP MP and son of Himachal Pradesh Chief Minister Prem Kumar Dhumal, is president of his state’s cricket association which hosts IPL games at its stadium in Dharamshala. His party colleague, Kirti Azad, is however a staunch opponent of IPL and went on dharna demanding the abolishing of the league after its string of recent scandals. Azad said that India’s image was being spoilt at an international level because of IPL debauchery and that he has written a letter to Finance Minister Pranab Mukherjee to take action against IPL.

Politics is a power game, and for now Maken and Azad are weak before a muscular establishment. But a poisonous worm is corroding the IPL apple from within, and all the might of Pawar, Shukla and friends will not stop this disease from spreading, if they do not use a sharp scalpel.

- With Kiran Tare and Nishat Bari

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Ancient shipwrecks unearthed in China

Posted by Admin on May 30, 2012

http://in.news.yahoo.com/ancient-shipwrecks-unearthed-china-120039966.html

By Indo Asian News Service | IANS India Private Limited – 9 hours ago

Beijing, May 29 (IANS) Archaeologists in China have unearthed two shipwrecks under an artificial waterway that remained buried forcenturies.

Over 600 artifacts have also been recovered from the site in Tianjin, the Tianjin Cultural Heritage Protection Centre said.

The wrecks, which date back to Ming Dynasty (1368-1644), first came to light in April, after workers dredged a section of the Grand Canal, said Mei Pengyun, centre director.

The 1,776 km-long Grand Canal passes through several provinces in northern and eastern China. The oldest sections of the canal were built 2,500 years ago, People’s Daily reported Tuesday.

The discovery will provide insights into construction of ships inancient China, archaeologists said.

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Is a Greek Exit from the Euro Inevitable?

Posted by Admin on May 22, 2012

http://business.time.com/2012/05/21/is-a-greek-exit-from-the-euro-inevitable/

Is a Greek Exit from the Euro Inevitable?

By Michael Schuman | @MichaelSchuman | May 21, 2012

Kostas Tsironis / AP

For 2½ years, the world has been watching and waiting to see if debt-laden Greece can remain in the euro zone. Many have been doubtful since the beginning of the debt crisis. Greece’s government debt is simply too burdensome, the fiscal adjustment imposed on Athens is too severe, the Greeks are too resistant to the tough reforms that are necessary and the rest of Europe is too bullheaded to change its approach to suit reality. But for 2½ years, Greece has nevertheless managed to scrape by and remain in the monetary union, thanks to two European Union–IMF bailouts (totaling $300 billion), which have kept Greece on life support, and repeated promises to reform by Greece’s major political parties.

Now, however, the Greek debt crisis may finally be reaching the endgame. The likelihood of a Greek exit from the euro zone has been growing, and that has scary consequences for the rest of Europe as well as the global economy.

(PHOTOS: Protests in Athens)

The spiral toward disaster has been tipped off by Greek politics. A general election earlier this month eliminated what little hope remained that Athens could press through with the painful austerity measures and structural reforms demanded by the euro zone in return for bailout cash. The fractured result made it impossible for a government to form, and a new election has been called for June 17. But even if that poll brings some political stability, the odds that the bailout can go ahead as planned are practically zero. A vast majority of the votes in the last election went to parties that either want to renegotiate the terms of the bailout or ditch the agreement entirely. Whether the bailout scheme can continue will depend on the willingness of the rest of Europe to make concessions to Greece in a better, softer rescue agreement and the willingness of Athens’ politicians to agree to new terms. These are very open questions.

The problem is that without that rescue money, Greece will very likely have to exit the euro zone. The Greek government would quickly run out of money to function, leaving Athens no choice but to return to its national currency, the drachma. This scenario could unfold with surprising speed. Here are Bank of America/Merrill Lynch analysts on that score:

If no government is in place before June, when the next instalment from the EU/IMF is due, we estimate that Greece would run out of money sometime between the end of June and early July, at which point a return to the drachma seems to us inevitable.

Even if the Greek government gets its act together and the bailouts continue, there is another force steadily pushing Greece out of the euro zone. Greeks are removing their deposits from Greek banks. They have been doing this for a while, but the pace seems to have accelerated recently. In just one day last week, Greeks yanked some $900 million of deposits from the banks. This process is quaintly called a “bank jog,” but it is much more dangerous than a quiet run through a park. It is effectively a slow-motion run on banks, and a natural consequence of the uncertainty surrounding Greece’s tenuous position in the euro zone. If Greece is forced to ditch the euro and return to the drachma, Greeks know full well that their drachmas will be sharply devalued relative to the euro. So keeping their money in Greek banks now could result in a big hit to their welfare. Instead of facing that risk, Greeks are withdrawing money from banks to preserve their wealth.

(MORE: After the Fall: Greece’s Former Prime Minister Assesses the State of His Nation)

That makes sense from the standpoint of the Greek saver, but not for the banking sector. As Greek banks empty of euros, the financial system comes closer to failure. So far, the European Central Bank has been plugging the hole by acting as a lender of last resort to the Greek banking system. But there is a limit to how much financing the ECB might be willing to inject. Gavyn Davies of the Financial Times did a great job of explaining how this bank run is happening, and why the ECB could eventually fail to contain it:

The problem is that [ECB support for Greek banks] potentially exposes the ECB to much bigger losses than anything which has been contemplated so far by the core economies. Up to now, the ECB has been willing to inject liquidity to cover the financing needs of the periphery banks as the inter-bank market has dried up. If instead, they have to contemplate providing semi-permanent funds to cover large further withdrawals of bank deposits, the size and timescale of the injection becomes extraordinarily large.

If the ECB doesn’t continue to finance Greek banks, Athens could be forced to withdraw from the euro zone and restore its currency. That on its own would be destabilizing. But even more worrisome, the bank jog in Greece has the potential to become a euro zone–wide bank run. Seeing what’s going on in Greece, depositors in other weak euro-zone economies (Portugal, Spain, Italy) have the same incentive to yank money out of their banks. That could end with the total unraveling of the monetary union. The fears that this theoretical scenario will become reality are increasing in Europe. Here’s how economist Paul Krugman explained it in the New York Times:

Right now, Greece is experiencing what’s being called a “bank jog” — a somewhat slow-motion bank run, as more and more depositors pull out their cash in anticipation of a possible Greek exit from the euro. Europe’s central bank is, in effect, financing this bank run by lending Greece the necessary euros; if and (probably) when the central bank decides it can lend no more, Greece will be forced to abandon the euro and issue its own currency again. This demonstration that the euro is, in fact, reversible would lead, in turn, to runs on Spanish and Italian banks. Once again the European Central Bank would have to choose whether to provide open-ended financing; if it were to say no, the euro as a whole would blow up.

(MORE: Will Greece Need Another Election to Form a Government?)

How can the euro zone stop this from happening? It will require a degree of political commitment and policy flexibility so far absent from the zone’s approach to the debt crisis. When a national government confronts a run on banks, the way to solve it is to guarantee deposits and ensure that banks have enough cash to meet withdrawals. The problem with the euro is that individual national governments don’t have control over their own money. So the euro zone as a whole has to step in and back up the banks like a national government would. The euro zone likely requires some sort of guarantee scheme akin to the U.S.’s Federal Deposit Insurance Corp. But supporting the euro banking system is this way might demand yet more resources from stronger euro-zone economies like Germany. It would also probably entail more E.U.-level control over national banking sectors. Both steps would prove difficult.

More broadly, Europe can squelch the bank jog if it shows more commitment to the euro and keeping Greece in the union. The longer this period of uncertainty over Greece’s status drags on, the more deposits will flee Greece, and the more likely a euro exit becomes.

Clearly, a Greek exit from the euro zone would be traumatic for Greece and the rest of Europe, and send shock waves through global financial markets. But can a Greek exit from the monetary union really take down the euro itself? That’s a topic for another post …

MORE: Election of French President François Hollande Heralds End to Austerity

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US to invest in Bengal as ‘partner state’: Mamata

Posted by Admin on May 7, 2012

http://in.news.yahoo.com/us-to-invest-in-bengal-as–partner-state—mamata.html

IANS India Private Limited – 49 minutes ago

Kolkata, May 7: Describing her meeting with US Secretary of State Hillary Clinton as “positive, constructive and creative”, West Bengal Chief Minister Mamata Banerjee Monday said the former assured her of American investment in the state for its business and economic development, considering Bengal as a “partner state”.

Banerjee, however, said issues like Teesta water sharing with Bangladesh and foreign direct investment (FDI) in multi-brand retail were “never raised” in the talks.

Addressing a press conference after a meeting with Clinton at the state secretariat, the chief minister said: “They (the US) will invest in West Bengal as a partner state. For a long time, there has not been any US investment in the state. After the change in political scenario, they said that the US would favour investment in Bengal.”

Banerjee said Clinton has expressed the US’ desire to invest in West Bengal as the state has witnessed a change in its “political scenario” after decades. She said she also urged Clinton to consider American investments in the state’s software, IT and manufacturing, health and education sectors.

Banerjee said state Chief Secretary Samar Ghosh and US Ambassador to India Nancy Powell would coordinate between themselves and jointly monitor the projects, which would be set up under public-private-partnership (PPP) mode.

“We have formed a small group. Ghosh and Powell will coordinate between themselves and monitor the implementation of the projects,” she said.

Banerjee, the Trinamool Congress chief, stressed issues like Teesta water sharing dispute and FDI did not come up in the talks with Clinton as was speculated in the media.

“We only discussed developmental issues. Strategic issues we did not discuss. Teesta and FDI did not come up in the meeting. There issues were never raised,” she stated.

There was speculations in the political circles that Teesta water sharing with Bangladesh and FDI in multi-brand retail would be discussed in the Clinton-Banerjee meet. The Trinamool is strictly opposing foreign investment in retail, while the chief minister had opted out of Prime Minister Manmohan Singh‘s Dhaka trip last year, leading to the agreement on water sharing being dropped.

After the meeting, the chief minister said she was “very delighted” as the talks with Clinton had been “positive, constructive, creative and concrete”.

Informing that the secretary of state appreciated her for implementation of different development programmes after coming to power in the state, the chief minister said she has assured her of US government’s support in the business and economic development of the state, which was facing a severe debt crisis.

“She hailed us for coming to power in the state with huge support and changing the political scenario. She also appreciated our implementation of programmes in mission mode,” Banerjee said.

Banerjee’s Trinamool Congress, joining hands with the Congress, ousted the left Front, which had been in power for 34 years, last May.

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Clinton pitches for FDI in multibrand retail

Posted by Admin on May 7, 2012

http://in.finance.yahoo.com/news/clinton-pitches-fdi-multibrand-retail-090131043.html

Note from Admin : – As usual one of the biggest most insidiously jobful bitches of the West is as usual again at it, doing what she does best, fulfilling the geo-political strategical wishes of her servant manor masters of the 13 messed up royalty banking bloodlines by coming over to the east, to my country and poking her disgusting dirty little nose into the local politics of local states in my nation.

How the hell is it even allowed to happen by all who notice this. Why the hell would a Secretary of State of the most gluttonous country in the world come over to talk politics with local chief ministers of my country. We are sovereign and independent and we don’t need any form of outside interference and/or assistance with how we should run our nation. Please F**K OFF!!

Bringing in the NCTC Act and FDI Retail Investments from the likes of Wal-Mart and others will wreck the SMBs and Cottage/Rural industries in my nation. They get mowed down by your wicked and greedy MNCs.

One of the prime opposers to this move is the Bengal Chief Minister and top political leader Mamata Bannerjee and so she is right now being coaxed to do the unthinkable and actually listen to the wonderful advice given my Ms. Hillary Rodham Clinton.

Great news for the NWO as it rumbles on in full gear forward. Either that peaks in 4 years from now or I am leaving this planet for so many other reasons.

Kolkata, May 7 (IANS) Making a strong pitch for further opening up of the Indian economy, especially with regard to foreign direct investment (FDI) in multibrand retail, US Secretary of State Hillary Clinton Monday said it would raise the standard of living in India.

“I come with certainly a belief that India can compete with anybody, anywhere. And the more open India becomes over time, the greater is the rise in the standard of living and (the more) the opportunity for the broader number of people,” Clinton said during an interaction at the La Martiniere school for girls here.

“But I also understand politics. And I understand how lots of these decisions are difficult,” she said.

Referring to the US desire to try to open the (Indian) market to multibrand retail, she said the primary reason for this was the “enormous amount of experience that has been brought to India by supply chain management in developing relationships with producers” so that their produce was easily and abundantly available and of larger quantity.

In this connection, she mentioned the factory of Fritolay India, the snack food division of Pepsico, in West Bengal, and said: “There are a lot of benefits that may not be immediately perceived.”

With her visit taking place in the backdrop of speculation that she would raise the India-Bangladesh Teesta treaty with Chief Minister Mamata Banerjee, Clinton said: “Water is an issue about the world that will be increasingly contentious.”

“We have to do a better job of trying to find a win-win solution for everybody because the alternative will be perhaps worst than conflict, leading up to dislocation, destabilisation, refugee flows, famine and other kinds of problems that we are seeing in places like north Africa.”

“We have to work together in the international community,” she said.

Clinton clarified that the US does not have any interest on how water issues are resolved. “But we know from working on our own projections what will be the hard issues in future unless water issues are properly dealt with,” she added.

Besides FDI, she also said the US wants “greater debate” on civil nuclear cooperation.

“We want to have far greater debate and dialogue on FDI and civil nuclear cooperation. US was in conversation with Indian government on those issues for a long time,” she said.

Replying to a question on the Indian Civil Liability for Nuclear Damage Act passed by parliament last August, Clinton said: “We have made it clear to the government that under the legislation that was passed, it would be difficult for US companies to participate.”

“We’re still discussing this and hoping there’s a way to work it out,” she said.

The US has objected to some provisions of the Indian nuclear liability bill which allows citizens to file tort claims for damages and the nuclear plant operator’s right of recourse against nuclear suppliers.

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Italian police seize $6 trillion of fake U.S. bonds

Posted by Admin on February 18, 2012

http://news.yahoo.com/italy-police-seize-6-trillion-fake-u-t-144806353.html;_ylt=AvhtJn.ZeMbZWHHPr6Q6RHSs0NUE;_ylu=X3oDMTNsc2wwYWgwBG1pdANUb3BTdG9yeSBGUARwa2cDYTI3Njg2ZDgtOGFjOC0zM2EwLWE3MGEtYzgxMWU5N2IxMDFlBHBvcwMzBHNlYwN0b3Bfc3RvcnkEdmVyAzAyNmExNzYwLTU5YjctMTFlMS1iZWVmLTcyMjdlOWE3MGZkNg–;_ylg=X3oDMTFvdnRqYzJoBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25zBHRlc3QD;_ylv=3

By Elisa Forte and Gavin Jones | Reuters – 14 hrs ago

POTENZA, Italy (Reuters) - Italian police said on Friday they had seized about $6 trillion worth of fake U.S. Treasury bonds and other securities in Switzerland, and arrested eight Italians accused of international fraud and other financial crimes.

The operation, co-ordinated by prosecutors from the southern Italian city of Potenza, was carried out by Italian, Swiss and U.S. authorities after a year-long investigation, an Italian police source said.

It began as a investigation into mafia loan-sharking, but gradually expanded as prosecutors used telephone and computer intercepts to unearth evidence of illegal activity surrounding Treasury bonds.

The fake securities, worth more than a third of U.S. national debt, were seized in January from a Swiss trust company where they were held in three large trunks.

The U.S. Embassy in Rome thanked the Italian authorities and said the forgeries were “an attempt to defraud several Swiss banks”. It said U.S. experts had helped to identify the bonds as fakes.

Potenza’s prosecutor Giovanni Colangelo said an international network “in many countries” was behind the forgeries.

Italian daily Corriere della Sera said on its website that the criminal network was believed to be interested in acquiring plutonium, citing sources at the prosecutors’ office.

VERSAILLES

Police videos showed images of the trunks, with “Federal Reserve System, Treaty of Versailles” stamped on the side in large, golden letters.

Bond certificates marked “Chicago, Illinois, Federal Reserve Bank” and other securities, some for one billion dollars, were also shown.

U.S. bond traders took a light-hearted view of the news.

“If there’s that much less supply now, Treasuries should be rallying,” joked Kevin Flanagan, fixed-income strategist at Morgan Stanley Smith Barney.

A trader at Citigroup said he had swapped jokes with colleagues about the seizure, which would not move markets.

“It’s kind of like fake inflation I guess, if you take it to the max, but I don’t think it means that much.”

Prosecutors said the forgers had hoped to use the fake bonds as collateral to secure loans.

The eight men arrested are accused of counterfeiting bonds, credit card forgery, and loan-sharking in the Italian regions of Lombardy, Piedmont, Lazio and Basilicata, police said.

The Swiss Federal Prosecutor’s office said Zurich state prosecutors had worked on the investigation at the request of the Italian prosecutor. The Swiss handed over their findings in July last year.

In 2009, Italian financial police seized $742 billion of fake U.S. bearer bonds in the of Chiasso, on the Swiss-Italian border.

(Additional reporting by Steve Scherer and Emily Flitter; Editing by Andrew Roche)

(In 11th paragraph, corrects company name of strategist to Morgan Stanley Smith Barney, instead ofMorgan Stanley)

Fake U.S. Treasury bonds are displayed during a news conference in the southern Italian city of Potenza

  1. Fake U.S. Treasury bonds are displayed during a news conference in the southern Italian city of Potenza February 17, 2012. REUTERS/Tony Vece

Chief prosecutor of Potenza Colangelo talks during a news conference in the southern Italian city of Potenza

  1. Chief prosecutor of Potenza Giovanni Colangelo (C) talks during a news conference in the southern Italian city of Potenza February 17, 2012. Italian police said on Friday they had seized about $6 trillion of fake U.S. Treasury bonds in Switzerland, and issued arrest warrants for eight people accused of international fraud and other financial crimes. The operation, co-ordinated by prosecutors from the southern Italian city of Potenza, was carried out by Italian and Swiss authorities after a year-long investigation, an Italian police source said. REUTERS/Tony Veceless 

A trunk containing fake U.S. Treasury bonds is displayed during a news conference in the southern Italian city of Potenza

  1. A trunk containing fake U.S. Treasury bonds is displayed during a news conference in the southern Italian city of Potenza February 17, 2012. REUTERS/Tony Vece

Italian Carabinieri display fake U.S. Treasury bonds during a news conference in the southern Italian city of Potenza

  1. Italian Carabinieri display fake U.S. Treasury bonds during a news conference in the southern Italian city of Potenza February 17, 2012. REUTERS/Tony Vece
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Loader found dead in container; Suffocation suspected

Posted by Admin on February 14, 2012

http://www.emirates247.com/news/emirates/loader-found-dead-in-container-suffocation-suspected-2012-02-12-1.442629

Taxi driver found hanging in Ras Al Khaimah

By VM Sathish
Published Sunday, February 12, 2012
An onion loader at the Al Awir Fruits and Vegetable market. A co-worker of his was found dead in a container (File)

A 55-year-old Indian porter found dead inside a massive onion container is likely to have died of suffocation because of the onion odour, the chief of Dubai’s criminal investigation was reported on Monday as saying.

Brigadier Khalil Al Mansoori said the body of worker at Al Awir vegetable market had been handed to the coroner to determine the precise cause of death.

“It was noticed that the dead man had blue signs on the face and lips, which indicate his dead was caused by suffocation because of low oxygen levels,” he said, quoted by the Sharjah-based Arabic language daily ‘Al Khaleej’.

“According to forensic experts, onion inhales oxygen and exhales carbon dioxide, which leads to asphyxia and eventually death.”

Mansoori urged shipping firms not to allow their workers to sleep in loaded containers, adding that he had instructed Rashidiya police to mount an awareness drive for porters to alert them about the risks of sleeping inside containers and other places which lack ventilation.

“We are now awaiting a final forensic report about the exact cause of death of that Indian loader…details will be released later,” he said.

The worker from Tamil Nadu state was found dead inside an onion container on Sunday morning. He had worked till night loading onions in a 40-feet container and decided to sleep inside the container because of the cold weather.

EARLIER STORY:

An Indian worker from Tamil Nadu at the Al Awir Fruits and Vegetables Market was found dead inside an onion container on Sunday morning.

The worker, in his 50s, worked till night loading onions in a 40-feet container. Because of the cold weather, he chose to sleep inside the container, partially filled with onions.

According to Dubai Police, the dead man was found on Sunday morning and the cause of death is being investigated. Preliminary reports suggest that he died of carbon dioxide inhalation from the container. His body has been moved to the police morgue.

“Because of the cold weather, many workers who usually sleep on the pavements and under the trees have shifted to containers, which are warmer. It is not known whether the  man died of suffocation after someone closed the container without knowing that someone was sleeping inside,“ said a trader at the vegetable market. “He could have died of carbon dioxide produced by the onions in the locked container,” sources said.

The worker, who lives in the Hor Al Anz area, chose to sleep in the container rather than travel back to his accommodation and return to work early next morning.

“There are no fixed timings for workers in the fruit and vegetable market. After the market was shifted from Deira to Al Awir. Many workers continued to stay in their old accommodation. They have to work at odd hours, sleep wherever they find temporary shelter and resume work. It is common to see workers sleeping under the trees, on pavements and containers. During the cold season, many workers find it convenient to sleep in containers,” said an Asian worker.

According to sources in the vegetable market, containers with Advanced Fresh Air Management systems allow low levels of oxygen as onions can tolerate up to 10 per cent carbon dioxide which helps reducing sprouting, root growth and decay of the vegetable. By increasing the carbon dioxide level and minimising the ventilation openings, such containers can minimise water loss from onions and build up carbon dioxide levels, which can help to preserve onions.

Taxi driver found dead in RAK

Meanwhile, a 40- year-old Indian taxi driver was found dead on Sunday morning.

Manikuttan, a Keralite from Thiruvananthapuram, was found hanging from the celing at his accommodation in Al Julan area of Ras Al Khaimah.

According to his friends, Manikuttan, who is survived by two children and wife, returned from work and reportedly committed suicide.

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Justice Department indictment of MegaUpload

Posted by Admin on February 10, 2012

http://documents.latimes.com/justice-department-indictment-file-sharing-site-megaupload/

Justice Department indictment of MegaUpload

The U.S. De­part­ment of Justice shut down MegaUp­load.com, one of the world’s largest file-shar­ing web­sites, on Thursday after char­ging the site and its ex­ec­ut­ives with vi­ol­a­tion of pir­acy and copy­right laws.

In an in­dict­ment, the Justice De­part­ment al­leged that MegaUp­load was a “mega con­spir­acy” and a glob­al crim­in­al or­gan­iz­a­tion “whose mem­bers en­gaged in crim­in­al copy­right in­fringe­ment and money laun­der­ing on a massive scale.”

The De­part­ment also said that MegaUp­load, which had about 150 mil­lion users, tal­lied up an es­tim­ated harm to copy­right hold­ers in ex­cess of $500-mil­lion by al­low­ing users to il­leg­ally share movies, mu­sic and oth­er files. In ad­di­tion, pro­sec­utors also said in the in­dict­ment that those who op­er­ated the site racked in an in­come from that topped $175-mil­lion.

— Nathan Olivarez-Giles (Jan. 19, 2012)
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MegaUpload file sharing site shut down for piracy by Feds

Posted by Admin on February 10, 2012

http://latimesblogs.latimes.com/entertainmentnewsbuzz/2012/01/file-sharing-megaupload-shut-down-for-piracy-by-feds.html

January 19, 2012 |  2:39 pm

The homepage of Megaupload.com

This post has been updated. See note below.

The Department of Justice announced Thursday that it has conducted a major action to shut down MegaUpload, a popular file-sharing site widely used for free downloads of movies and television shows.

Justice Department indictment of MegaUpload

After receiving indictments from a grand jury in Virginia for racketeering conspiracy, conspiracy to commit copyright infringement and other charges on Jan. 5, federal authorities on Thursday arrested four people and executed more than 20 search warrants in the U.S. and eight foreign countries, seizing 18 domain names and an estimated $50 million in assets, including servers run in Virginia and Washington, D.C.

MegaUpload is a “digital locker” that allows users to store files that can then be streamed or downloaded by others. Its subsidiary site MegaVideo became very popular for the unauthorized downloads of movies and TV shows. Users whose uploaded content proved particularly popular were paid for their participation.

DOCUMENT: Read the indictment against MegaUpload

In a joint statement, the Justice Department and FBI called the action “among the largest criminal copyright cases ever brought by the United States.”

Ira Rothken, an attorney for MegaUpload, said in an interview that he only learned of the actions in a press release this morning and had not yet read the entire indictment. “Our initial impression is that the allegations are without merit and MegaUpload is going to vigorously contest them,” he said. “We have deep concerns over due process and assets being taken without the opportunity for a hearing.”

According to the indictment, the operators of MegaUpload earned more than $175 million in illegal profits and caused an estimated $500 million in harm to copyright holders.

The site is advertised as having more than 50 million daily visitors, according to federal authorities.

Four of MegaUpload’s operators have been arrested in New Zealand, while three more remain at large. The seven each face a maximum of 55 years in prison.

Not listed on the indictment is rapper Swizz Beatz — real name Kasseem Dean – who, according to a report in the New York Post, is the CEO of MegaUpload. Beatz is married to pop singer Alicia Keys.

Rothken said that Beatz had not been running the site but that recently there had been “a transition period going on.”

The news is sure to be welcome in the entertainment industry, whose leaders have faced a recent setback in their push for the Stop Online Piracy Act and Protect Intellectual Property Act. The proposed bills, if passed, would make it easier for U.S. courts to go after piracy sites that, unlike MegaUpload, operate entirely overseas.

Critics who believe the bills are heavy-handed and don’t adequately protect civil liberties conducted a U.S. Internet “blackout.” As many as 10,000 websites went black Wednesday, among them Wikipedia, Craigslist and Reddit. The protest helped to pressure lawmakers to oppose SOPA and PIPA.

The Obama administration announced its opposition to the bills in their current forms Saturday.

[Update, 2:55 p.m.: The websites of the Justice department and Universal Music Group, which had been involved in litigation with MegaUpload, were down on Thursday. The sites were attacked by members of the hacker group Anonymous in response to the actions against MegaUpload, according to a report on CNET News.]

RELATED:

Photos: Sites that went dark to protest SOPA

SOPA, PIPA backlash could hurt Obama in Hollywood

Hollywood unions blast Google and urge Senate support for PIPA

– Ben Fritz

Photo: The homepage of Megaupload.com. Photo: Associated Press

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Victoria tribunal says will not treat Indian origin woman’s sacking as a racism issue

Posted by Admin on January 21, 2012

http://in.news.yahoo.com/victoria-tribunal-says-not-treat-indian-origin-womans-084626057.html

By ANI | ANI – Thu, Jan 19, 2012

Melbourne, Jan.18 (ANI): A tribunal here has said that claims by a woman that she was sacked because of her Indian heritage, will not be treated as a racism issue.

Renu Misra claimed that she was offended when a colleague told her that she had “Michael Jackson” hair.

According to the Herald Sun, Misra, an English citizen of Indian descent, told the Victorian Civil and Administrative Tribunal she was humiliated by the remark about her curly black hair, and claimed she was subject to other racist remarks at work.

But her colleague Jean-Noel Jarnet, from data technology company ESRI Australia, said he meant the hair comment as a compliment because he was a big fan of Jackson, documents show.

VCAT found that the comments did not constitute race discrimination “in this context”. Whether it was a compliment “may be a matter of opinion”.

The tribunal heard of other allegations of racial discrimination but dismissed her complaint late last year.

Misra’s business development manager role with ESRI was terminated on December 9, 2009, after eight months.he claimed Jarnet had influenced the decision.

VCAT found no evidence that she was fired based on racial discrimination or that Jarnet had a role in her sacking. (ANI)

 

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Violent sex crimes by U.S. Army soldiers rise -report

Posted by Admin on January 21, 2012

http://in.news.yahoo.com/violent-sex-crimes-u-army-soldiers-rise-report-011449493.html

By Mary Slosson | Reuters – Fri, Jan 20, 2012

=====================================================================================================================================================================

Note by the Admin of this Blog – To all the readers of this article, most of whom are sadly anglo saxon caucasians not even indigenous in terms of evolution to this world, this article is just one of the many reasons why the rest of the world and coloured people hate you so much, including me!

Remember we shall never forgive you for all the atrocities your forefathers and you, their offspring have committed upon our sacred lands of culture, value and tradition through the conquests of colonialism and imperialism.

2012 or not do not even for a moment think rapture or a second coming of your anointed one of your false bible who never died on a cross upon calvary and who fled to India for the second time to raise his offspring with his wife Mary Magdalene and whose tomb to this day stands in a public building at a busy intersection in a well known city in the Jammu and Kashmir state of India can do anything about it for he himself was nothing more than a descended disciple of the teachings of the Gautama Buddha.

This also includes your NESARA/GESARA prosperity funds to redeem each of you financially to live your capitalistic and materialistic sickening and virus minded lives to continuously plague the beautiful and bountiful lands of Dear Mother Earth whom so many of us hold so dear and upon whom your masters have wrecked destruction callously. So do the ETs have a part in all this for they were the progenitors of your race from the Pleaides/Plejaran constellations and other systems of Aldebaran and Antares. They only wish to serve yet another agenda of enslavement and deceit in the coming of a golden age with help and manipulation from the skies.

The real true good ETs would never mean something they say and try doing another for then what good would choice and free will be?

Remember a golden age does not come into being just by forgetting the past and moving on. That is utter bullshit you all have conditioned the rest of the world to believe in knowing fully well your unspeakable acts and atrocities can never be redeemed any way whatsoever.

It will be fought for in a quiet and just way and I will be one to do so anyway, for though we may hide in obscurity, never for a moment consider that your acts and thoughts have gone unnoticed and you can yet again pull over all of us a veil of delusion stating it is you who will be the forerunners to bring about civility to this world just as you did so when the first of your maritime vessels reached our shores a few centuries ago.

Hypocrisy abounds and so will the cataclysmic downfall of all intellect based civilizations that rot in the vermin of their own filth. May it be for in no other way can a just and sincere utopia be accepted for otherwise it would be not.

Remember these words and remember that no date and alignment can help you if you cannot help yourself get rid of your own inner dirt for what good is an object made to shine on the outside that carries shit inside it.

Also I must appreciate all those souls who migrated to take birth upon your continents to effect the true Renaissance and also to those ever so few genuine members of your race who have always remained steadfast and noble in the brilliance and light of the Most radiant Ones that we always are. Thank you for keeping the balance.

=====================================================================================================================================================================

What this article actually hides is the true horror of such acts committed by white boys to Iraqi girls and women. Curse all of you for continuing this…

(Reuters) – Violent sex crimes committed by active U.S. Army soldiers have almost doubled over the past five years, due in part to the trauma of war, according to an Army report released on Thursday.

Reported violent sex crimes increased by 90 percent over the five-year period from 2006 to 2011. There were 2,811 violent felonies in 2011, nearly half of which were violent felony sex crimes. Most were committed in the United States.

One violent sex crime was committed by a soldier every six hours and 40 minutes in 2011, the Army said, serving as the main driver for an overall increase in violent felony crimes.

Higher rates of violent sex crimes are “likely outcomes” of intentional misconduct, lax discipline, post-combat adrenaline, high levels of stress and behavioral health issues, the report said.

“While we have made tremendous strides over the past decade, there is still much work to be done,” Army Vice Chief of Staff General Peter Chiarelli said in a statement.

“Many of our biggest challenges lie ahead after our soldiers return home and begin the process of reintegrating back into their units, families and communities,” Chiarelli said.

Violent sex crimes committed by U.S. Army troops increased at a rate that consistently outpaced the national trend, a gap that is expected to continue to grow, the Army said.

The top five violent felony offenses committed by soldiers in 2011 were aggravated assault, rape, aggravated sexual assault, forcible sodomy and child pornography.

Soldiers suffering from issues such as Post-Traumatic Stress Disorder (PTSD), traumatic brain injury, and depression have been shown to have higher incidences of partner abuse, according to the report.

Soldiers with PTSD are up to three times more likely to be aggressive with their female partners than those without such trauma, the report said.

The report also said that family abuse cases are typically underreported.

As the largest branch of the U.S. armed forces, the Army has done the bulk of the fighting in Iraq and Afghanistan, including years of extended duty and repeated deployments. The rate of suicides among Army soldiers was steady in 2011 after years of rising, the report said.

(Editing by Greg McCune and Cynthia Osterman)

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