rakeshsharma: February 2013

Thursday, February 28, 2013

US, Europe move to expand role in Syrian conflict

This photo taken Feb. 27, 2013 shows Secretary of State John Kerry arriving at the Foreign Ministry in Paris. The U.S. is moving closer to direct involvement in Syria?s civil war with the delivery of non-lethal assistance directly to the rebels fighting President Bashar Assad?s regime. Officials say the decision to offer ready-made meals and medical supplies to the rebels may be a step toward eventual U.S. military aid, which the administration has so far resisted. (AP Photo/Jacquelyn Martin, Pool)

Estonian Foreign Minister Urmas Paet, left, Latvian Foreign Minister Edgars Rinkevics, U.S. Secretary of State John Kerry and Lithuanian Foreign Minister Linas Linkevicius, pose for a photograph before their meeting at the Hotel Excelsior in Rome on Wednesday, Feb. 27, 2013. Rome, where talks will Syria be held, is the fourth leg of Kerry's first official overseas trip, a hectic nine-day dash through Europe and the Middle East. (AP Photo/Jacquelyn Martin, Pool)

U.S. Secretary of State John Kerry embraces his long time friend, U.S. Ambassador to Italy David Thorne, left, as Kerry arrives at Ciampino Airport, in Rome on Wednesday, Feb. 27, 2013. where talks on Syria will be held. Rome is the fourth leg of Kerry's first official overseas trip, a hectic nine-day dash through Europe and the Middle East. (AP Photo/Jacquelyn Martin, Pool)

U.S. Secretary of State John Kerry disembarks at Ciampino military airport, in the outskirts of Rome, Wednesday, Feb. 27, 2013. Kerry will attend an international conference on Syria in Rome Thursday. The United States is looking for more tangible ways to support Syria's rebels and bolster a fledgling political movement that is struggling to deliver basic services after nearly two years of civil war, U.S. Secretary of State John Kerry said Wednesday. (AP Photo/Riccardo De Luca)

U.S. Secretary of State John Kerry shakes hands with Italian Foreign Minister Giulio Terzi, right, as he arrives at Villa Madama in Rome, Wednesday, Feb. 27, 2013. Kerry will attend an international conference on Syria in Rome Thursday. The United States is looking for more tangible ways to support Syria's rebels and bolster a fledgling political movement that is struggling to deliver basic services after nearly two years of civil war, Kerry said Wednesday. (AP Photo/Riccardo De Luca)

ROME (AP) ? The United States and some European allies are edging closer to direct involvement in Syria's civil war with plans to deliver meals, medical kits and other forms of nonlethal assistance to the rebels battling President Bashar Assad.

The U.S., Britain, France and Italy aren't planning to supply the Free Syrian Army with weapons or ammunition. But moves are afoot to significantly boost the size and scope of their aid to the political and military opposition. Such decisions could be announced as early as Thursday at an international conference on Syria in Rome.

Britain and France are keen to give the rebels the means to protect themselves from attacks by Assad's forces, including Scud missiles fired in recent days against the city of Aleppo, U.S. and European officials say.

Assistance could mean combat armor, vehicles and other equipment not deemed to be offensive, the officials said. It could include training in battlefield medical care and the protection of human rights, they said.

For now, the Obama administration is advancing more modestly. It is nearing a decision whether to give ready-made meals and medical supplies to the opposition fighters, who have not received direct U.S. assistance.

U.S. Secretary of State John Kerry was expected to announce the new contributions at the Rome conference, in addition to tens of millions of dollars intended for rule of law and governance programs.

The shifts in strategy are part of a step-by-step process that could lead to direct military aid to carefully screened members of the Free Syrian Army if the nearly 2-year conflict continues. Some 70,000 people have died in the fighting.

The European Union last week renewed an arms embargo against Syria for three months. But foreign ministers made clear that the decision could be reviewed while they look at ways to increase pressure on Assad to leave.

Washington has provided $385 million in humanitarian aid to Syria's war-weary population and $54 million in communications equipment, medical supplies and other nonlethal assistance to Syria's political opposition. The U.S. also has screen rebel groups for Turkey and American allies in the Arab world that have armed rebel fighters.

No U.S. dollars or provisions have gone directly to rebels. That decision reflects concerns about forces that have allied themselves with more radical Islamic elements since Assad's initial crackdown on peaceful protesters in March 2011.

Kerry said Wednesday in Paris that both the U.S. and Europe want a negotiated solution to the crisis and would speak to the leaders of the Syrian National Coalition about that. He also said the world must be prepared to do more to support the rebels and he accused Assad's government of engaging in "criminal behavior."

"We want their advice on how we can accelerate the prospects of a political solution because that is what we believe is the best path to peace, the best way to protect the interests of the Syrian people, the best way to end the killing and the violence," he said at a news conference with French Foreign Minister Laurent Fabius.

"That may require us to change President Assad's current calculation," Kerry said. "He needs to know that he can't shoot his way out of this. And so we need to convince him of that, and I think the opposition needs more help in order to be able to do that."

Fabius offered a similar assessment.

"The situation is unbearable and we need to find the means to a transition and for Assad's departure," he said. "We agree all of us on the fact that Mr. Bashar Assad has to quit."

Britain's Foreign Office also said it would increase its support for Syria's opposition.

The possibility of a sudden change in U.S. strategy comes as President Barack Obama begins a second term and Kerry succeeds Hillary Rodham Clinton as the top U.S. diplomat.

Freed from the constraints of a re-election campaign, administration officials say there is greater leeway now for new approaches than last year, when Obama rebuffed a plan by Clinton, then-CIA Director David Petraeus and then-Defense Secretary Leon Panetta to arm the Syrian rebels.

The administration remains cautious, officials say, and is resisting European pressure to expand military aid to include the kind of items that Britain and France are considering.

Few Americans want to see their country dragged into another war of complicated loyalties and sectarian rivalries in the Muslim world, a little more than a year after leaving Iraq and with 66,000 U.S. combat troops still in Afghanistan.

Administration officials say they don't have enough assurances that rebel units under the sway of Islamic fundamentalists won't turn their weapons on Israel or other U.S. allies and fragile states in the region.

Lebanon is torn by some of the same internal sectarian divisions as Syria and Jordan is struggling with its political reform path.

Iraq's prime minister, Nouri al-Maliki, warned on Wednesday that a victory by Syrian rebels would lead to more fighting in Iraq and a new haven for al-Qaida.

Greater instability in any of Syria's neighbors would pose a whole new set of problems.

Still, officials said the U.S. was considering a gradually upgraded involvement in Syria to bolster moderate forces within the rebel ranks and help the fledgling political opposition win greater backing among Syrians, especially minority groups that have remained largely loyal to Assad and his government.

Debate within the administration on how best to accomplish these goals has increased in recent months as diplomatic efforts have failed to end the war. The Syrian opposition insists that only weapons, intelligence support and other forms of military aid truly can tip the balance.

U.S. Sen. Marco Rubio, a potential 2016 presidential candidate, urged the administration to consider lethal aid.

"We should want the best organized, the best equipped and most dominant groups in the opposition to be groups that are friendlier to our national interests," Rubio, a Florida Republican, said Wednesday at the Washington Institute for Near East Policy.

The position is similar to one Kerry held as a senator, and one he reminded reporters of this week when he proposed the creation of opposition safe zones and suggested providing rebels with U.S. weaponry.

But in his first month as secretary of state and on his first official trip overseas, the 2004 presidential candidate has been vaguer.

"We have a lot of ideas on the table, and some of them, I am confident, will come to maturity by time we meet in Rome," Kerry said this week. "Others may take a little more of a gestation period, but they're no less part of the mix and part of the discussion.

"What I can tell you is we are determined that the Syrian opposition is not going to be dangling in the wind wondering where the support is or if it's coming, and we are determined to change the calculation on the ground for President Assad."

Klapper reported from Washington. Associated Press writers Kenneth Thomas in Washington, Sylvia Hui in London, and Silvie Corbet in Paris contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/89ae8247abe8493fae24405546e9a1aa/Article_2013-02-27-EU-US-Syria/id-04ef2f4e811a4bf7a1c4367e0938c48b

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Budget Live: 'Taxes from rich will go to poor through social schemes ...

15:42 Facing the ire of rating agencies and investors alike, the finance minister delivered his promise of fiscal consolidation through a combination of a higher tax revenues and increased asset sales, but lacked expenditure control, said brokerage Nomura. Since, budgeted expenditure is set to rise by 16.4 percent in FY14 and food subsidies shooting up to Rs 90000 crore? a prelude to elections?? there is doubt on whether his growth numbers are achievable.

? Higher taxes are intended to redistribute income from the rich to the poor through the government?s social sector schemes, likely with an eye on elections. Fiscal consolidation ought to be attained through a combination of higher taxes and lower spending, but the budget uses only the higher revenue route.? Further, the delayed payment on FY13 subsides will mean the subsidy burden carries into FY14. As such, we believe slippage in the budgeted fiscal deficit of 4.8% of GDP may be unavoidable,? it said.

Mulayam, Mayawati, Karat agree Budget 2013 only for corporates

15:17 pm Samajwadi Party leader Mulayam Singh Yadav termed the budget as ?anti-poor? and ?anti-farmer? and vowed to oppose it in Parliament. ?This budget is only for 10 percent population of the country. What kind of budget is this which ignores 65 percent people who are engaged in farming,? he said.

BSP leader Mayawati, whose party has extended support to the UPA, criticised the budget saying it was drafted to ?confuse? the common man and there was nothing new in it. She said all the announcements seem lofty and ?in the air?.

?There is nothing new in this budget and there nothing for farmers, employees and the middle class,? she said, adding that the policies of the central government are not in the interest of the common man and are ?anti-people?.

Criticising the budget, CPI (M) leader Brinda Karat said ?this budget is really promoting that particular factor of growth which has marked the UPA regimes, which is the growth determined by the interests of the corporates.?

?It is a pro-corporate budget. It is a budget which once again is finding ways to give tax exemptions and also this budget shows manipulation of figures by Chidambaram in his presentation. If you look at the Revised Estimates, you will find there has been a huge cut in the expenditure, compared to what previous budget estimates are,? she said.

2:13 pm M&M bears brunt of SUV excise increase

The auto sector?s worst fear has come alive. The FM increased excise duty on sports utility vehicles, except those run as taxis, from 27 percent to 30 percent.

The fear was always there, ever since Jairam Ramesh, when he was Union environment minister, said using diesel-guzzling SUVs was ?criminal?. That was in 2010. And the auto sector always thought the government has something against the segment.

And with the latest move by Finance Minister P Chidambaram, it has become real.

?SUVs occupy greater road and parking space and ought to bear a higher tax. I propose to increase the excise duty on SUVs from 27 percent to 30 percent. However, the increase will not apply to SUVs registered as taxis,? Chidambaram said in the budget speech.

According to Deloitte Haskins & Sells, this would hit the passenger automobile sector on the fastest growing product portfolio which is SUV.

?Consequential price increase could be higher than 3 percent because of consequential implications of VAT and entry tax or octroi, it said. Further, this would discourage usage of diesel as most of SUVs run on diesel. However, the demand of the SUV sector is generally seen as price inelastic, it said.

And naturally, the stock market has not taken it lightly.

Shares of Mahindra & Mahindra, the biggest player in the utility vehicles segment, are down 2 percent and that of Maruti Suzuki 3.3 percent. Tata Motors was flat. While Pawan Goenka? of M&M is happy that the government did not introduce a diesel tax, the excise duty on SUVs was a sure dampener.

RBI happy with government?s efforts to reduce subsidies

The Reserve Bank too seemed impressed with the government?s efforts to reduce subsidies. ?Budget creates fiscal space for private borrowing and has set the stage for lowering the twin deficits, ? it said in a statement.

The central bank also felt inflation-indexed bonds will increase options for savers.

1:50 pm Budget 2013 is a disappointed for women, children and the poor.

Terming the Budget as a disappointed, BJP said women children and the poor have been neglected.

There were no avenues for creating employment opportunities for the youth , while women were given only a ?cosmetic promise of an all-women?s bank, while the poor for also neglected, said senior BJP leader Sushma Swaraj.

Even? Leader of Opposition in Rajya Sabha Arun Jaitley said the Budget is verbose but on substance is it is low.

According to Jaitley, finance minister P Chidambaram had very little elbow room to bring about significant reforms given the mess the economy is in, which is why he only ?made cosmetic changes in different heads of expenditure and direct taxes.? He added that the minister had indulged in a ?little bit of jugglery, by marginally increasing taxes in certain ministries and substantially reduces expenditure?.

Jaitley said the budget contained little to offer a boost to agriculture or manufacturing sectors, which are vital for sustainable growth.

While no meaningful changes were made to taxes, expenditure was reduced substantially so that optically the high target of fiscal deficit remains.

1:42 pm Budget has done a great job of addressing the nation?s priorities: Chanda Kocchar

Despite banking stocks tanking post the Budget announcement, Chanda Kocchar, MD at ICICI Bank felt that the budget had done a great job of addressing the nation?s priorities of fiscal consolidation and bringing back investment.

Even Naina Lal Kidwali praised the Budget for not being a populist, pre-election budget. While expenditure allocations have gone up, the level of populism has not been that significant.

Meanwhile, C Rangarajan says Budget focuses on investor confidence

Budget should bee seen in context of measures taken since September. The focus of the Budget is clearly on inviting more investment, said C Rangarajan, chairman of the Prime Minister?s Economic Advisory. Rangarajan termed it as a balanced budget as it aims at fiscal consolidation and the expenditure pattern of the current budget was aimed at stimulating investment.

1:36 pm 1% TDS will curb speculation, undervaluation of property deals

?Anuj Puri, Chairman & Country Head, of real estate firm Jones Lang LaSalle India, termed the Budget as realistic but said it did not have any implications for real estate.

?This was a moderately encouraging Budget in general, but tepid for the Indian real estate sector,? said Puri.

The TDS of 1% to be charged on the transfer of immovable property is an obvious move to curb speculation and bring about improved reporting and accountability in high-value immovable property transactions. Considering that the TDS is to be charged on the gross transaction value rather than net gains, sellers will have a cash-flow impact in situations where the sales are at a loss or at zero/negligible gains.

The rate of abatement on homes and flats of above 2000 square feet or costing Rs. 1 crore and above has been reduced from 75% to 70%. Effectively, this translates into an increase in service tax outflow, which means that luxury housing will now become even more expensive.

For Chandrajit Banderjee, Director General CII, the budget managed to address critical issues even though no big bang reforms were announced. ?We are looking at controlling the fiscal deficit and promoting SMEs,? said Banerjee.

Rahid Bilimoria, CEO BlueFin said the Budget was populist because of the overall increase in subsidies, including food subsidies.

?Disappointment at the 5-10 percent surcharge on local companies with income above 10 crores that will not be growth spurring.? However there were positive elements around widening participation in financial markets including proposed cut in STT?.

1:31 pm There?s not one thing we can fault the finance minister for: Adi Godrej

Adi Godrej, President CII and Chairman, Godrej Group welcomed the Budget and said the finance minister has done a good job by suggesting tax administrative reforms that GAAR will be made law.

?There?s not one thing we can fault the finance minister for. We welcome his budget and feel that it will add to growth ? the GDP will be better the next year. I congratulate him, as he was in a very difficult conditions,? said Godrej.

S Gopalakrishnan, Executive co-chairman, Infosys said the budget was good for the IT sector as it encourages innovators, incubators and creation of companies. ?His being specific that GAAR will be implemented are all very good,? said Gopalakrishnan.

10 mn jobs need to be created to achieve 8% GDP growth, says PM

1:12: Prime Minister Manmohan Singh too congratulated the finance minister for presenting a ? commendable job? by? containing deficit while simultaneously addressing the growth imperatives. He, however, cautioned that an 8 percent growth cannot be achieved in one year and will take at least two to three years.

?We need to create 10 million jobs a year for the duration of the 12th Plan which can be achieved only if we reach 8% GDP growth level,? the PM said.

On allocations for various ministries, PM said that Budget 2013 has provided plenty for every ministry. ?It is upto the collective wisdom of? my ministers to convert challenges into opportunities to make growth more inclusive and sustainable.?

He also said that India needs to get its act together and get on the growth path of 8 percent.

He lauded the finance minister for charting out the path to reign in fiscal deficit and create a better climate for investment and moderation inflation.

? If fiscal deficit is under control we can moderate the pace of inflation,? said Singh.

1:10 pm Budget 2013 is a classic Chidambaram Budget

MS Unnikrishnan, MD and CEO Thermax, also felt that Union Budget 2013 was balanced, and a classic Chidambaram budget.

?I don?t think the economy is going to tank after the budget. His emphasis on addressing CAD is a very positive move. Chidambaram has understood the difficult scenario and has allocated specific funds where it is most needed,? he said.

FM takes easy way out with super-rich tax, says Deepak Parekh

1:pm Even though markets declined post the Union Budget, HDFC?s Deepak Parekh however seemed optimistic and termed the budget as a realistic one and also congratulated finance minister P Chidambaram for achieving the fiscal deficit target of 5.2 percent.

While he said the surcharge on the super rich and corporates is a deterrent , he said it must be accepted as it is only a marginal surcharge. As compared to other countries, ?tax rates in India are one of the lowest globally.?

He also said that by this marginal 10 percent surcharge the government has taken an easier way out as he has not introduced regressive taxes like an inheritance tax, estate duties etc.

And rather than worrying about these taxes, large investors can now kickstart the growth process by investing in infrastructure.

He also praised Chidambaram for being brutally honest about the current account deficit being the biggest worry, even bigger than the fiscal deficit. ? The only way to correct this is through FII, FDI and ECB, and Chidambaram has acknowledged that,? said Parekh in an interview with CNBC-TV19.

Parekh, however, did express his disappointment with the FM not announcing any sops for retail investors since the absence of domestic investors implies Indian markets will continue to remain hostage to FIIs.

1oo : pm ?S. Sandilya, Chairman, Eicher Motors? too felt Chidambaram has done a good job.

? It is an extremely positive budget and taxing the super rich was important. He made a request in good faith and considering that it?s only for one year, I?m sure people will not mind.?

RC Bhargava, Chairman, Maruti Suzuki, however was disappointed since there was nothing for the auto sector.

?There is nothing about the auto sector that has made me happy or unhappy. Stability is a good thing and so I?m happy.?

As expected, ITC gets an excise rise of 18% in Budget 2013

12:44 pm ?Shares of cigarette-hotels major ITC extended the decline to 1.12 percent after the finance minister increased SED on cigarettes by 18 percent.

TDS of 1 percent imposed on value of property (other than land) exceeding Rs 50 lakhs is likely to be negative for the real estate sector, said Deloitte.

Further, extension of sunset clause for profit-linked incentive by one year is likely to be a positive for the power sector, it said.

12:29 pm The disappointment of the market was clear. Even a cut in Securities Transaction Tax failed to enthuse the investors.

The finance minister?s proposal to increase the surcharge for foreign companies from 2 percent to 5 percent and that for Indian companies from 5 percent to 10 percent is a negative for the corporate sector, Deloitte said.

The benchmark indices Sensex and Nifty were down 0.4 percent.

12:07 pm: The benchmark indices further came off highs and were as up just 0.16 percent as the unfolding Budget 2013 had nothing much for the stock markets or the economy in general.

Pre-budget, there were hopes that the finance minister will do nothing to damage the applecart of stock market on which he is hugely dependent on for divestment revenue.

But all may not be all lost, as FM is yet to start tax proposals. If he indeed cuts or even do away with the STT, it will be a windfall

11:57 am A Rs 14,000 crore recapitalisation proposal failed to enthuse public sector bank shares. The stocks were largely unmoved after the proposal.

Recapitalisation is a given for PSBs. Investor sentiment for banks will change only if the government announces steps to boost the economy in general.

11:47 am Capital goods index held on to gains after the govenrment unveiled a few steps to increase credit flow into the sector.

Regulatory authority for road construction sector may not be viewed positively by small and medium enterprises?..as it could be perceived as ?license raj??.however, it may be good for large sectorial players, Deloitte said.

The proposal to revival of investment in the manufacturing sector by removing bottlenecks, is positive for the sector.

Shares of L&T was up 1.4 percent, IRB Infra was up 3 percent, GMR 2 percent.

11:38 am The benchmark indices came off even as the finance minister continued wooing voters with more sops.

Increase, if any, in minimum purchase price for food / crop for farmers could fuel food inflation rate which is already alarming and worrisome, Deloitte said.

Positive proposals on Food security could boost the logistics sector, companies invovled in storage, warehousing and transportation, Deloitte said.

However, this is liekly to increase the government spending for subsidies.

?11:26 am:? Education related ?shares rose afger the finance minister proposed a 17 percent increase in allocation to the sector to Rs 65,877 crore.

Huge thrust to education is positve for the sector, Deloitte said. Rs 27,258 crore has been allocated to Sarva Siksha Abhiyan. Allocations to provide scholarships was Rs 5284 crores

Aptech was up 6 percent, Treehouse 3 percent, NIIT ?2 percent.

Aptech was up 6 percent, Treehouse 3 percent, NIIT 2 percent. Reuters

11:20 am: The benchmark indices held the grounds and remained stable after the finance minster started the budget speech. The Sensex and Nifty were both up 0.6 percent.

Finance Minister has proposed a total budget estimate for FY14 at Rs 16.55 lakh crore. Plan expenditure for the year has been estiamted 29.4% hihger than that of FY13.

According to Deloitte Haskins & Sells the finance minsiter is creating the right sentiment.

10:56 am:? The BSE Realty Index and the Capital Goods Index were top giners among sectoral indices on expctation that the govenrment is likely to propose measures to boost invetment in these these sectors.

Both the indeces were up 1.8 percent. There is wide expectation that the finance minister is liekly to accord infratructure status to affordable housing. This is will big boost to the much-battered real estate sector.

Infrastructure status will boost the affordable housing segment as such a move will help developers get clearances and finance santions easier, Axis Capital had said in a pre-budget note.

As far as capital goods sector is concerned, the govenrment likely to announce concrete steps to boost invesmtents in the infrastructure sector.

10:32 am Shares of Jet Airways extended gains and rose more than 6 percent on expectation that the company is now nearing a deal with Abudhabi-based Etihad Ariways.

Etihad said on Wednesday that the company has bought Jet Airways? slots in the Heathrow Airport for $70 million and also that it is in discussions for making further investment in the Indian company.

Investors see Etihad?s move as a positive step towards the closure of the equity deal.

10:11 am Tax expert HP Ranina told CNBC TV18 that securites transaction tax may be reduced and the govenrment?s thrust on creating the right environment for investor. He also expects the finance minister to tinker with the sort-term capitla gains tax. The marklet is anyways not doing any great, so this is a viable thing he could do, Ranina said.
As far as the roll-out of the Goods and Services Tax is concerned, Chidambaram is liekly to only reiterate the earlier stance that the govenrment is on course to inctroduce it in after the election, said Dinesh Kanabar of KPMG.

The sensex, meanwhile, was stable with a 0.5 percent rise.

9:42 am Of the 30 Sensex consituents, 28 advanced and 2 declined.? ONGC, up 2.6 percent, and Coal India up 2.2 percent were the top gainers The BSE Midcap Index, which was on a roallercoster ride over the last few days, was up 0.5 percent. Of the 250 constituents, 170 advanced, 43 declined, one remained unchanged and 36 were not traded, accordign to the data on the BSE website.

Pankaj Vaish of Citibank told CNBC TV18 that the slowdown is major worry and the need of the hour is a revival in the investment. The only way out for the government is to add capacity massively, he said. He expects the market To consolidate around current levels for now and hit new high before 2014 general elections. The government should also look at providing domestic investors options besides gold.

9:19 am Sensex opens at 19290.32 , up 0.72 percent and the Nifty opened at 5836.45, up 0.68 percent, triggered by positive global cues as Asian shares and other risk assets rose? as sentiment improved after US Federal Reserve Chairman Ben Bernanke reaffirmed his commitment to strong stimulus, while a smooth debt sale calmed fears over Italy?s political turmoil.

The Indian equity markets are likely to open flat with a positive bias as investors await the Budget for taking positions, while global cues provide support.

Asian shares and other risk assets rose on Thursday as sentiment improved after US Federal Reserve Chairman Ben Bernanke reaffirmed his commitment to strong stimulus, a Reuters report said.

Worries about the eco-political situation in Italy also receded after a debt sale there sailed through, it said. AFP

Worries about the eco-political situation in Italy also receded after a debt sale there sailed through, it said.

The yen was defensive, with Japanese Prime Minister Shinzo Abe nominating Asian Development Bank President Haruhiko Kuroda as Bank of Japan governor, and academic Kikuo Iwata as one of the two deputy governors. Both are seen by markets to support Abe?s call for unconventional reflationary stimulus measures, and that view has underpinned yen selling, the report said.

Domestically, investors are pinning hopes on a budget that will be prudential and responsible, with proposals to cut unproductive expenditures, which will help the government rein in its fiscal deficit.

They also hope Finance Minister P Chidambaram will not resort to steps that will damage the prevailing positive sentiment in the market.

However, there have been reports that the finance minister is likely to introduce new taxes in order to increase its revenue. Any increase in taxes or introduction of new tax is likely to the impact the market sentiment negatively.

On the positive side, any concrete measure to push investment in the infrastructure sector is likely to be a big boost for the market.

Investors have also been gunning for a cut or complete repeal of the securities transaction tax, which they think has been a big drag on the trading volumes on the bourses.

If the FM manages to do this, it will be a windfall for the markets.

Source: http://www.firstpost.com/investing/live-as-expected-itc-gets-an-excise-rise-of-18-in-budget-2013-642856.html

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Tinyview Debuts New iOS App To Be Your One Stop Shop For All Mobile Shopping

Tinyview, a startup that wants to be the "mobile browser" for product search and shopping, is expanding its functionality. Today the company has updated its iPhone app and adding a web presence for users.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/vFcRFWj3rAQ/

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Wednesday, February 27, 2013

If Fear Were Not a Factor, What Would You Do Today? | Jackie's ...

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Parties may struggle to form government in Italy

Democratic Party leader Pierluigi Bersani leaves after a press conference in Rome, Tuesday Feb. 26, 2013. Italy emerged from elections Tuesday with no clear winner, driving markets around the world markedly lower as investors worried that one of Europe's biggest economies would be unable to build a governing coalition that can stay the course on unpopular austerity measures. A day after polling ended, a few seats in Parliament based on Italians' voting abroad still remained to be decided, but their numbers won't ease the gridlock. (AP Photo/Alessandra Tarantino)

ROME (AP) ? A center-left group of parties appears to have the best shot at forming a coalition government in Italy after an inconclusive national election, but the challenge is steep and comes amid public anger over austerity measures.

If Italian parties fail to form a governing coalition, new elections would be required, causing more uncertainty and a leadership vacuum, and that possibility has rattled financial markets across Europe.

Pier Luigi Bersani and his center-left allies appeared on Tuesday to have won a narrow victory in the lower house of parliament, while the Senate looks split with no party in control. Silvio Berlusconi, the former Italian premier whose center-right coalition did better than expected, is a key player since his coalition is now the second-biggest bloc in the upper chamber.

Comic-turned-political leader Beppe Grillo, whose 5 Star Movement capitalized on a wave of voter disgust with the ruling political class, had a surprisingly strong showing. His bloc of seats in Parliament could prove crucial in making any coalition government viable.

The two-day election on Sunday and Monday also was a clear rejection of the previous technocratic government led by Mario Monti. That government enacted wide-ranging reforms to the budget and the economy. Though its borrowing rates have fallen in financial markets, the cost to Italians has been high, with Italy mired in recession and unemployment on the rise.

Berlusconi has already ruled out an alliance with Monti, his predecessor, whom he blamed for driving Italy deeper into recession.

On Tuesday, a few seats in Parliament based on Italians' voting abroad still remained to be decided, but their numbers won't ease the gridlock. European leaders pleaded with politicians in Italy to quickly form a government to continue to enact reforms to lower Italy's critically high debt and spare Europe another spike in its four-year financial crisis.

Bersani said he was not opening talks with any potential partners until he submits his program to Italy's president, who taps a candidate to form a government.

Stinging from a loss of some 4 million votes compared to the last election in 2008, Bersani hasn't yet identified who he could try to form alliances with. But top officials in his Democratic Left (PD) party were quick to rule out any deal with Berlusconi.

"As far as I go, absolutely not," Stefano Fassina, a PD official, said of a possible Bersani-Berlusconi alliance.

Italy's FTSE MIB index closed trading Tuesday 4.89 percent lower at 15,731, having earlier been nearly 5 percent down. Some of its banking stocks were briefly suspended after precipitous falls at the bell.

Whether Tuesday's negative market reaction extends further into the week may hinge on how quickly a solution is reached in Italy.

Berlusconi insisted that a government can be formed and called on Italians to ignore the "crazy" markets.

"Markets go their own way. They are independent and also a little crazy," Berlusconi said, adding that a government can be cobbled together, if rival politicians are willing to "make some sacrifices."

Grillo said his forces would seek to thwart any Bersani-Berlusconi deal. Raising the specter of early elections, he predicted any such coalition will "last seven, eight months. The economy won't let them escape."

Bersani himself later made subtle overture toward Grillo's forces, conceding that the center-left campaign had not gone deep enough for change. "We finished first, without winning," he conceded.

Italy is hugely important for the future of the euro, and its apparent stability over the past six months has been one of the reasons that concerns over the currency have eased. Of the 17 European Union countries that use the euro, Italy has the second-highest debt burden as a proportion of its gross domestic product, at 127 percent.

Only Greece's is higher. Italy has to spend around ?80 billion a year just to service its debt.

The worry across financial markets is that Italy's appetite for reform may wane and its debt situation may deteriorate.

Though Italy's annual borrowing ? its budget deficit ? is relatively small compared with other euro countries at 3 percent of its annual gross domestic product, its overall debt stands at a colossal ?2 trillion.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2013-02-27-Italy-Politics/id-12fb49c6bceb421abd6f164ff253c66a

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Source: http://crew.valkry.com/blog/89449/consider-these-tn-requin-cher-great-self-help-tips-if-you-039-re-experienci/

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One In Four Mobile Users Keep Dirty Pics Or Vids On Their Smartphone, And We All Know It?s You

A new survey from software security company AVG announced today reveals that a full 25 percent of mobile users keep "intimate photos or videos" on their smartphones or tablet devices, a surprisingly high number given that only 36 percent said they would be comfortable checking their bank balances from a smartphone screen. AVG surveyed 5,107 smartphone users in the U.K., U.S., France, Germany and Brazil to get a broad look at how pervy we all are.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/4RgMwSxbODk/

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Shirley Bassey Performs "Goldfinger," Brings Oscars Crowd to Its Feet

Source: http://www.thehollywoodgossip.com/2013/02/shirley-bassey-performs-goldfinger-brings-oscars-crowd-to-its-fe/

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Monday, February 25, 2013

Join the Engadget HD Podcast live on Ustream at 8:30PM ET

Two in a row, that was a good run, but it's over as once again we are off our regularly scheduled time for the Engadget HD podcast. Hopefully this later time still works for you, as we don't know how we can go on recording without you at at 8:30PM tonight. If it does still work for you go ahead and get ready by reviewing the list of topics after the break, then you'll be ready to participate in the live chat.

Filed under: HD

Comments

Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/2TQEEAe31mU/

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Source: http://www.nachi.org/forum/f11/can-get-little-love-here-please-79339/

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Sunday, February 24, 2013

India's secret executions raise concerns

NEW DELHI (AP) ? For 11 years the family of a convicted terrorist waited and wondered about his fate as he sat on death row. Two weeks ago they found out ? from television. Mohammad Afzal Guru had been hanged in secrecy in a faraway jail in New Delhi. A government letter informing them of the imminent hanging arrived at their home in Kashmir two days after he was dead.

"No words can describe the pain. It was like a bolt from the sky. Our whole family is still locked in that moment. We're still struggling to reconcile with that moment," said Yasin Guru, the dead man's cousin.

India has hanged two men in the past three months, its first executions in eight years. In a departure from past practice, both were done in secrecy. Rights activists worry the government has set a precedent that could impact the nearly 500 people on death row in India, including four men whose mercy pleas ? their last hope of life ? were rejected by India's president last week.

"The new practice of executing in secret without prior notification to relatives is deeply worrying," said G. Ananthapadmanabhan, who heads the India chapter of Amnesty International.

Three months earlier, Mohammad Ajmal Kasab, the lone surviving gunman of a 2008 terror attack in Mumbai, was hanged in equal secrecy. His execution was announced several hours later.

Many believe that the government wanted to avoid violent protests in Kashmir ? where a separatist campaign has just begun to wane ? that would have erupted had Guru's hanging been announced beforehand.

But that's no consolation to his family or relevant to human rights activists and lawyers who see the two secret hangings as an assault on the values of democratic India.

Guru was convicted in the 2001 attack on India's Parliament that killed 14 people when five heavily armed gunmen entered the high-security parliament complex and opened fire. Eight police personnel were killed before the five attackers were shot and killed. A gardener also died.

Guru's wife, 13-year-old son and other family members were stunned when they heard on television news that he had been executed, said Yasin Guru, the cousin. Convicts facing imminent execution are normally allowed a last meeting with their families.

"The world's biggest democracy did not even have the courtesy to inform us," he said, adding the family was now demanding that the government hand over his body, which has been buried in Tihar jail in New Delhi, where he was executed Feb. 9.

The government says it sent a letter, dated Feb. 6, informing Guru's family of the execution. But it was mailed Feb. 8, one day before his execution and reached his family in Sopore in Kashmir on Feb. 11, two days after Guru was hanged.

"The most distressing failure of official compassion and public decency was in denying Afzal Guru's wife and teenage son the chance to meet him for the last time before his execution," activist Harsh Mander wrote in the Hindustan Times newspaper.

T.R. Andhyarujina, a former solicitor general of India, called Guru's execution "an inhumane act" that serves as "the most callous death sentence carried out by the government of India."

Kasab, the convict in the Mumbai terror attack, was a Pakistani. India said it informed Pakistan about the imminent execution and asked Islamabad to inform his family. Kasab's family did not claim his body.

There was little outcry over his execution, partly because of the deep revulsion that his actions evoked in India. The two and a half day attack by Kasab and his comrades in November 2008 left 166 people dead and is seared in the memory of most Indians. Because Kasab was a foreigner with no local ties, family or support, his execution did not cause the same kind of blowback that Guru's did.

Most of that anger was evident in Kashmir which erupted into violence after the news of Guru's hanging came out. Many Kashmiris also believe that he did not receive a fair trial.

Even Kashmir's chief minister, Omar Abdullah, an ally of the Indian government, said it was unacceptable that the family was not told of the execution and allowed to say goodbye.

"If we are going to inform someone by post that his family member is going to be hanged, there is something seriously wrong with the system," he said.

The secrecy goes against the humanitarian values the Indian state professes to uphold, said Rebecca John, a Supreme Court lawyer.

"The fact that the family was not informed, it reflects not only a weak state, but a brutal state; a state that does not believe in basic human rights," she said.

The use of the death penalty, on the books since 1860, has been unheard of recently. In 1982, the Supreme Court ruled that it should be given only in the "rarest of rare" cases. The executions of Kasab and Guru were the first time in eight years India had put anyone to death.

According to the government, 476 people were on death row in 2012. With most appealing for clemency through India's slow-moving judicial system, few will likely end up facing execution.

Rights activists point to the irrevocable nature of the death penalty and the rise in cases where DNA evidence has overturned convictions. They fear executions shrouded in secrecy deprive defendants of any last-minute legal recourse.

Attention is now focused on the four men on death row in the southern Indian state of Tamil Nadu whose mercy pleas were rejected by President Pranab Mukherjee last week, nine years after they filed them.

They were convicted in 1993 of involvement in a land mine blast that killed 22 people, including several police, who were on their way to arrest a notorious smuggler.

On Wednesday, they earned a short reprieve when the Supreme Court gave them six weeks to pursue a last bid for clemency.

Another case is that of Balwant Singh Rajoana, convicted in the 1995 killing of a former chief minister of India's Punjab state. Last year, the present chief minister, Prakash Singh Badal, took the lead in getting Rajoana's execution postponed while he filed another appeal in the Supreme Court.

Political experts say that Guru was hanged within days of Mukherjee turning down his clemency plea, which is unusual in India. They feel it was done with an eye on upcoming general elections expected next year.

The quick and quiet executions will allow the government to claim it is being tough on terror, without angering any major constituency, and perhaps winning accolades from the majority Hindus.

"This secret hanging is a clear message to Kashmiris that Indian laws are only meant to protect the state and its officials," said Khurram Parvez, a Kashmiri human rights activist.

___

Associated Press writer Aijaz Hussain in Srinagar, India, contributed to this report.

Source: http://news.yahoo.com/indias-secret-executions-raise-concerns-094556538.html

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PFT: 306-pound tackle runs jaw-dropping 40

Notre Dame linebacker Manti Te?o wasn?t the only high-profile college star creating as many questions as he answered Saturday.

LSU defensive end Sam Montgomery detailed hundreds of dollars worth of bets with teammate Barkevious Mingo while they were in college, and a $5,000 bet on which one is drafted higher (which he?s almost certainly going to lose).

But the thing NFL teams will want to know about was his admission that he took plays and games off while at LSU.

?You know, some weeks when we didn?t have to play the harder teams, there were some times when effort was not needed,? Montgomery said. ?But when we had the big boys coming in, the ?Bamas or the South Carolinas, I grabbed close to those guys and went all out.

?Of course, this is a new league, the NFL and there are no small teams, small divisions, it is all Alabamas and LSUs every week. It?s definitely something I have to get adjusted to, but I?m sure with the right coaching I will be fine.?

Asked if NFL teams might be concerned about his ability to flip the switch from not trying all the time, Montgomery said he has matured in the months since he left LSU.

?When you are a young, you do things as a boy, but when you grow, you do things as a man,? he said. ?From a maturing standpoint, and from everything going into this league that I have learned so far, I was a boy in college, and now that I am going

into the league, I?ve become a man.?

Montgomery said he and Mingo (who many expect to be a top-10 pick, while Montgomery is projected as a late-first) had a $500 bet on who had more sacks in the final game, $1,000 on season sacks along with the big wager on draft status.

?Here?s the thing: Hard work, and betting like that, pushes greatness,? Montgomery said. ?That?s actually motivating me and Mingo. It?s not about the money, it?s about pushing us, at the combine and the drills in between. That?s what is pushing us to be the best.

?It?s always been competitive for me and Mingo and it makes us better in the end. He?s a fast defensive end, I?m more physical. We have to switch over in those realms, so putting big stakes on it makes us more dominant players in the end.?

Setting aside the friendly bets, teams are going to wonder what they have to do to motivate Montgomery once they?re the ones paying him.

Source: http://profootballtalk.nbcsports.com/2013/02/23/terron-armstead-a-306-pound-tackle-runs-a-jaw-dropping-40/related/

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Baseball fans brave winter conditions for Brewers tickets

MILWAUKEE (WITI) ? Dedicated Brewers fans braved winter weather conditions Friday morning, February 22nd ahead of the Milwaukee Brewers seventh annual Arctic Tailgate party at Miller Park on Saturday, February 23rd.

Fans have been lined up and camped out in order to be the first to get their hands on Brewers tickets ? which fans can receive Saturday morning.

?It was like a hurricane. We had an inch of snow in our tent,? says camper David Barriere. Barriere claims the strong winds even broke the pole to their tent.

Dedicated Brewers fan, Paul Killian was first in line ? setting up camp around 9:00 Wednesday night. ?It Feels terrific. It?s nice to see all these people behind you ? and know you are going to be the first ones in. The first ones to get our tickets. And the first ones to be outta here.?

At this time, the National Weather Service has issued a winter weather advisory for all of southeast Wisconsin until 6:00 p.m. Friday.

This first push of early morning snow left an average of 2-4? of snow in many areas. An additional 1-2? is expected to fall Friday evening for storm totals around 5? in most areas.

Source: http://northshore.fox6now.com/news/news/170930-baseball-fans-brave-winter-conditions-brewers-tickets

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Saturday, February 23, 2013

Social Media Welcome To Reality On the internet | CulturaPopulara.ro

While others may possibly feel you are merely enjoying the a number of facets of social networking, the truth of your interest may likely be tinged with a organization focus.

What that doesnt imply is that you post simply to leave a traceab?

The use of social media encompasses a broad range of on the web media sorts. Whilst some may possibly only feel of a social network like MySpace there are truly several social media formats that contain substantial marketing and advertising potential for online organization.

Whilst other individuals could believe you are simply enjoying the numerous aspects of social networking, the truth of your interest might probably be tinged with a organization focus.

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Social media can be presented in numerous distinct types. Lets take a peak at a handful of of them.

YouTube and other related video websites These videos can be funny, serious, off the cuff and at times political in nature. You can show your organization in a humorous light and enable men and women to be curious about you and your business.

MySpace and other social networks This type of social media is common due to the fact it draws together multiple elements of social advertising and marketing and makes them accessible to the masses of folks that might view social networking as an online version of reality television.

Blogs This is a type of social media if only because it does let interactive exchanges in between the blogger and the reader.

Forums This can enable you to have an person voice prepared to go over topics of interest to the majority. As with all social media you can give a link to your site. If you are viewed as a trusted source you will likely find forum members following you to your web site to understand a lot more.

Podcasting This is an audio stream that can allow a visitor to hear a private message from you. This can have a pronounced effect in social advertising and marketing.

This isnt an exhaustive list, but it does give one thing for you to think about as an addition to other advertising and marketing techniques you may have in spot. Social media enables you to take your message to the folks and have fun although you share your message.

I cant tension adequate how important it is to be actual. The whole Internet community has a low tolerance for supposed spam so make confident you dont use social media as basically one more type of on-line marketing.Jett Media Group
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Source: http://culturapopulara.ro/?p=24469

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India Faces Ultimate Lesser-of-Two-Evils Choice: Vote Hitler? Or Vote Frankenstein?

In this file photo taken on January 29, 2013, former miner Sharan Rai, 17, (L) walks towards young men still working in the mines in Mulang village in the Indian northeastern state of Meghalaya.

Photo by Roberto Schmidt/AFP/Getty Images

The Associated Press has a fun story this morning out of Meghalaya, a tiny state in northeast India where the ballot for this weekend's state elections offers some eye-catching names among the 345 candidates running for state assembly. The ballot has something for everyone: lovers of the stage and screen can pick between Frankenstein Momin, Billykid Sangma and Romeo Rani. Those who favor U.S. history can opt for Kenedy Marak, Kennedy Cornelius Khyriem or Jhim Carter Sangma. And if none of those catch your fancy, there's always Hitler:

This 54-year-old father of three has won three elections to the state assembly with little controversy over being named after the Nazi dictator. His father had worked with the British army, but apparently developed enough of a fascination with Great Britain's archenemy to name his son Adolf Hitler ? though he also gave him the middle name Lu, Hitler said.

"I am aware at one point of time Adolf Hitler was the most hated person on Earth for the genocide of the Jews. But my father added 'Lu' in between, naming me Adolf Lu Hitler, and that's why I am different," Hitler told The Associated Press from the small village of Mansingre, 200 kilometers (125 miles) west of Gauhati, the capital of the nearby state of Assam.

The AP explains that such unusual names are rather commonplace in Meghalaya, although the report doesn't really explain why, except by noting that locals have a "special fascination for interesting and sometimes controversial names." Full story here. For something a little more meaty on India and democracy, check out Ann Applebaum's examination of whether the country?s political institutions are up to the task of defeating corruption.

[Note on the headline: Yes, I am aware that Frankenstein was the creator's name, not the monster's.]

***Follow?@JoshVoorhees?and the rest of the?@slatest?team on Twitter.***

Source: http://www.slate.com/blogs/the_slatest/2013/02/22/hitler_frankenstein_among_choices_on_indian_ballot.html

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