US keen on breaking China, Brazil, India agri trade barriers!GM food technology gets Montek Singh's endorsement!
Land acquisition for Posco continues peacefully
Meanwhile,India's high economic growth is leading to inflationary pressures, Finance Minister Pranab Mukherjee said in parliament on Wednesday.It is UNTRUTH as the First Econmomy USA and Second Econmoy Japan have no background of Inflation for years. On the other hand, Inflation and Budget Deficit hit most the Growth rate. The fainace Minister is misleading the Parliament as well as the Country!
Troubled Galaxy Destroyed Dreams, chapter 535
Palash Biswas
http://indianholocaustmyfatherslifeandtime.blogspot.com/
US keen on breaking China, Brazil, India agri trade barriers!Just see the maoist Menace and chidambaram`s corporate war in this dangerous all exposing Context!Emerging markets like India, China and Brazil need to make contributions commensurate with their position in the global economy, a top Obama Administration official told US lawmakers on Wednesday.
GM food technology gets Montek Singh's endorsement!
Land acquisition for Posco continues peacefully!
Land acquisition for the Rs 51,000 Posco steel project near here in Orissa''s Jagatsingpur district continued peacefully today. "We have acquired and demolished 82 betel vine plantations on ten acre in Gada Kujang area of the district so far.
The land acquisition was peaceful and smooth," Additional District Magistrate (Paradip) Saroj K Choudhury said. In all, 28 betel vine plantations were acquired during the day, while 54 were acquired yesterday, he said.
Some members of the United Action Committee, considered to be a pro-Posco outfit, protested the land acquisition demanding more compensation. Some who had broken away to form a separate group, Bhitamati Surakshya Manch opposed to the project, were welcomed by CPI-backed Posco Pratirodh Sangram Samiti (PPSS).
CPI leader and local MP Bibhu Tarai said acquisition without completion of socio-economic work and finalisation of the compensation package was improper. The land acquisition which was launched on July 27 had to be stopped for a few days due to opposition and road blockade by the villagers.
Posco-India, which had signed the MoU with Orissa government in June, 2005 for the 12 mtpa steel plant, required 4,004 acres for its greenfield project.
It is War against the Aboriginal Humanscape!media reports that a heavy gun battle is on between Maoist and security forces in the Gumiapal forests of Chhattisgarh's Dantewada district.it is calaimed that Around 60 Maoists attacked security personnel, comprising of state police and Special Task Force (STF) personnel on Wednesday morning.The Parliament is in the session. Kashmir situation is so Grim. Price rise debate eneded in a Consensus Resolution as expected as the Highlight of the Farce. Genetically Modified Seeds have to overtake second Green revolution to feed US Agricultural Farms. Budget deficit is hiked to enhance the Grafted Commonwealth Circus already Fat with Fund Diversion. I have been writing and warning against the Game Played by the Government of India to make space for tx Evasion and it is further exposed with Reliance saga yet to be unfolded. FIIs Rule India and Financial Bills have to be Guillotined. The Maoist Menace is being used to wipe out Aboriginal India which Coincides with All Round Destruction of the Himalayas under Military Rule!
Meanwhie,Planning Commission deputy chairman Montek Singh Ahluwalia on Saturday said he is not against genetically-modified food as India is not the first country to experiment with this technology. "Of course, when it comes to eatables, there is public concern about its introduction. But there are examples in other parts of the world like in the US and China where GM food has been tried out," he said while speaking at the Institute for Social and Economic Change on Saturday.
A proposal for a regulatory authority's oversight of tests in GM Foods like Bt brinjal is up for Cabinet approval and this would give statutory authority to carry out tests on GM," said Ahluwalia. The basic tenets of GM technology is being swept away due to controversies. Adequate data support and tests would help in setting things right, he said, adding that state governments are responsible for the failure to achieve four per cent agriculture growth under the 11th Plan. "State governments are not according the priority that they should to agriculture, which is the main constraint in achieving the targeted agriculture growth. They have to be much more proactive," said Ahluwalia. The country's average farm growth in the first three years of the 11th Five-Year Plan (2007-12) is only 2.2 per cent, while the target is 4 per cent for the entire period.
Ahluwalia said that in Karnataka, farm growth had remained stagnant at 0.1 per cent in 2009-10 and the contribution of agriculture to state GDP was 17 per cent. Food security, which is a major concern because of the increase in global food prices, cannot be tackled by ensuring equitable distribution. Production is an integral part of food security and India's food problem could be solved through "production-oriented solutions," he said.
"Agricultural productivity per hectare has to go up," said Ahluwalia. Compared to other countries, where pulse consumption was almost negligible, in India, pulse consumption has increased. With diversification of the food basket, the increase in food production has to be broad-based, he added.
GM food technology gets Montek Singh's endorsementDaily News & Analysis - Jul 31, 2010Planning Commission deputy chairman Montek Singh Ahluwalia on Saturday said he is not against genetically-modified food as India is not the first country to ... Govt open to GM food: MontekTimes of India - Jul 31, 2010BANGALORE: Planning Commission deputy chairman Montek Singh Ahluwalia has made it clear that the government is not against genetically modified (GM) food. ... Plan panel for 4% agri growth targetBusiness Standard - Jul 31, 2010Montek Singh Ahluwalia, deputy chairman of the Union planning commission, on Saturday held state governments responsible for failure to achieve an annual ... Inflation cannot be brought to crashing halt: MontekHindu Business Line - Jul 31, 2010Tackling price rise: Mr Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, and Dr BK Chandrashekhar, member of Bangalore Climate Change ... Montek: inflation can't be crash-haltedThe Hindu - Jul 31, 2010The Hindu CONCERNS: BK Chandrashekar, former Minister, greets Montek Singh Ahluwalia, Deputy Chairman of the Planning Chairman, in Bangalore on Saturday. ... Govt to set up regulatory authority for Biotech & GMIBNLive.com - Jul 31, 2010PTI Bangalore, Jul 31 (PTI) The government is in the process of setting up a regulatory authority for biotechnology and genetic modification, ... State govts responsible for not achieving agriculture growth: Montek SinghDaily News & Analysis - Jul 31, 2010Place: Bangalore | Agency: PTI Planning commission deputy chairman Montek Singh Ahluwalia today held state governments responsible for the failure to ... India to set up $10 billion infrastructure debt fundEconomic Times - Jul 30, 2010BANGALORE: India plans to set up a $10-billion infrastructure debt fund for long-term financing infrastructure projects across the country, ... Inflation will come down to 6 per cent by year-end: Plan PanelEconomic Times - Jul 30, 201031 Jul 2010, 0220 hrs IST, PTI BANGALORE: Amid a concerted Opposition attack on the government within and outside Parliament on rising prices, the Planning ... Inflation will come down to 6% by December, says MontekHindu Business Line - Jul 30, 2010Mr Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, and Dr Vinod K. Nowal, Vice-President, BCIC, at an interactive session organised by the ... All 15 related articles » | RelatedMontek Singh AhluwaliaBangalore Timeline of articles Number of sources covering this story
ImagesBusiness Standa...Hindu Business ... The Hindu Hindu Business ... The Hindu Deccan Herald All related images » |
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GM food technology gets Montek Singh's endorsement
Daily News & Analysis - 3 days ago
Planning Commission deputy chairman Montek Singh Ahluwalia on Saturday said he is not against genetically-modified food as India is not the first country to ...
Govt open to GM food: Montek - Times of India
Inflation cannot be brought to crashing halt: Montek - Hindu Business Line
Govt to set up regulatory authority for Biotech & GM - IBNLive.com
Mangalorean.com
all 59 news articles »
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The Hindu
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New GEAC role clouds future of GM crops
Hindustan Times - 2 days ago
Key UPA ministers have been sharply divided on GM food crops. Environment minister Jairam Ramesh has advocated caution, while farm minister Sharad Pawar has ...
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Food testing industry will grow as water contamination rises
Financial Express - 3 days ago
Growing awareness about the quality and safety of food has resulted in a thriving ... trends and his plans to test genetically modified food in the new lab. ...
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Monsanto believes GM foods will be accepted in India
Sify - 14 Jul 2010
'Yes, we know that some sections of the society are against GM food but we still support it. We are confident that GM foods will be widely accepted by the ...
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When we know so little, some eco-skepticism is in order
Daily News & Analysis - 52 minutes ago
India can't be fed through organic farming alone. Sure, GM crops may have their downside. ... on the organic food front — assuming it is at all possible. ...
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Parliamentary panel studies pros and cons of GM food
Economic Times - 15 Jul 2010
... genetically-modified food in India, with a panel of experts coming out in favour of setting up a regulatory mechanism to monitor their implications. ...
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Good for GM
Indian Express - 13 Jul 2010
Listen to Vandana Shiva, one of the greatest treasures of India. She can really show you the way. Don't give in to money! It's totally worthless GM FOOD IS ...
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This food is just fine
Ottawa Citizen - 5 days ago
Digging wells has been disastrous in India, where well-intentioned workers ... Technophobes who would rather starve than consume GM foods don't realize that ...
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After China gaffe, Jairam claws back into limelight
Times of India - Nitin Sethi - 24 Jul 2010
Sonia Gandhi's rejection of the ideas of the food ministry and the Planning Commission ... of GM food crops to clearances for roads and mining projects. ...
Hungry Will Remain Hungry - CounterCurrents.org
all 4 news articles »
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BioServe Develops Cost Effective PCR-Based GMO Screening Tests for ...
PR-USA.net (press release) - 5 days ago
BioServe is one of few GMO testing laboratories in India with a comprehensive GMO testing to meet the needs of manufacturers and exporters of food and feed. ...
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Top Maoist leader held in Ranchi
Ranchi, Aug 4 (PTI) A top Maoist leader carrying a reward of Rs five lakh on his head was today arrested from an apartment here, police said. "Rajesh alias Uday, who is a top Maoist leader operating in both Jharkhand and Chhattisgarh, has been arrested.He carried a reward of Rs 5 lakh on his head," a senior police officer said. A woman and a man who were along with him at the time of his arrest were being interrogated to ascertain whether they also belonged to the CPI (Maoist), he added.
TODAY - 05 August, 2010
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Saudi, RIM in last-ditch talks; India hardline
- Reutershe makers of the BlackBerry smartphone held last-ditch talks with Saudi Arabia to avert a threatened cut-off of a key service, while India took a tough line with the Canadian company....
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'Digitisation to bring a sea change in TV industry'The complete switchover of the Indian television industry from analog to digital will be a regulatory changeover and the biggest trigger in consolidating the fragmented LCO says a report from IDFC securities
- Interview: Broadcasters are missing the big picture
- Report: Crackdown on inactive TV licence-holders soon
LIVE BUSINESS NEWS
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- Tuesday August 3, 02:46 AM
- Source: Indian Express Finance
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Sebi showcause to Anil, ADAG execs
- By fe Bureaus
- The Securities and Exchange Board of India (Sebi) on Monday commenced hearings in the matter of dealings by Reliance Natural Resources (RNRL (RNRL.NS : 40.25 +0.8
- A Sebi order posted on its website said showcause notices had been issued to Satish Sheth, executive vice-chairman of Reliance Infrastructure, SC Gupta and JP Chalasani, both directors of Reliance Infrastructure and Lalit Jalan, whole-time director of Reliance Infrastructure.
- An ADAG spokesperson said: "The matter is sub-judice. Reliance Infrastructure, Reliance Natural Resources, and the concerned individual directors will comply with due process of Sebi, and are confident of suitable resolution of the matter, as legally advised."
- Although Sebi did not specify why it had sent the notices, it said the notices had been sent on June 7, 2010. Sebi added the concerned executives had been given an opportunity to inspect the documents and to furnish a reply to the notice by June 30, 2010. However, Sebi said on its website that neither did these executives inspect the documents and nor did they file any reply.
- The Sebi order said: "Though the two noticees were provided opportunities of inspection of documents and reply to the showcause notices, they did not avail of the same. They did not do so even after notice for personal hearing was issued. Seeking inspection of documents and postponement of hearing at the hearing delays the disposal of the proceedings," the Sebi order said.
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http://in.finance.yahoo.com/
| Tuesday August 3, 07:42 AM | Source: Hindustan Times |
Pranab says won't be super-regulator
New Delhi, Aug. 2 -- The Lok Sabha on Monday passed the Securities and Insurance Laws (Amendment) and Validation Bill, 2010 that would pave the way for setting up a joint mechanism to resolve differences among the various regulators in the financial sector. Once passed by the Rajya Sabha and then notified in the official Gazette it would replace the Ordinance that was promulgated last month, which provided IRDA the power to regulate "life insurance business," which includes hybrid insurance products like ULIPs.The Bill provides for setting up a joint body under the chairmanship of the finance minister, and with representations from the four financial sector regulators and the finance ministry.
Finance Minister Pranab Mukherjee said the committee will handle only disputes and efforts would first be made to solve these issues among the regulators themselves.
Will use power only when needed
What are ULIPs?
Unit linked insurance products (ULIPs) are products, where a tiny part of a policyholder's money is used for protection, with a large chunk being invested in equities. ULIPs account for more than half of the life insurance business.
What is the problem?
In April, stock market regulator, SEBI banned 14 life insurance firms from issuing fresh ULIP schemes.
Why?
SEBI said it should have the powers to regulate ULIP schemes as they operate through stock exchanges and invest in securities.
Insurance regulator IRDA retorted by asking the life insurers to ignore the SEBI order.
What did the finance ministry do?
In June it promulgated an Ordinance allowing IRDA to regulate ULIP schemes. The Bill that will replace the Ordinance, empowers the finance minister to be the final arbitrator to sort out all inter-regulatory conflicts.
What you should do
With the passage of the ULIP Bill in Lok Sabha, it is only a matter of time that it becomes law. With a lax IRDA looking on, insurers and their agents have turned ULIPs into an instrument of mass wealth destruction, with its 40 per cent first year upfront commission, churning every three years and product opacity.
Kashmir protests: Intifada comes to Kashmir
Kashmir protests in India have a way of turning violent, but hundreds of boys and young men have taken to throwing rocks as a solution to showing their frustration with India.
Masked Kashmiri protesters with stones gathered at an anti-India protest in Srinigar, India, on July 28. Violent protests have resulted in at least 19 civilian deaths since June 11.
Fayaz Kabli/Reuters
Additional reinforcements sent to Naxal-hit Dantewada!Heavy rain obstructed the arrival of reinforcements in morning.
Additional reinforcements have been sent to Naxal-hit Dantewada district of Chhattisgarh where an encounter between the police and Naxals has taken place.
Today, the incident occurred in the jungle near Gumiapal that falls under the Kirandool police station area.
Informing about the latest news from the place of incident, Inspector General of Police Bastar Division, T.J.Langkumer, has said that since the police parties have not yet returned from the site of the incident, nothing specific can be said at present.
"Due to heavy rains in the area, it is not being possible to establish communication links with the police personnel at the site," he informed on Wednesday evening.
Around 60 Maoists attacked security personnel, comprising of state police and Special Task Force (STF) personnel on Wednesday morning.
"Globally, USTR (US Trade Representative) remains committed to a balanced and ambitious Doha round," United States Trade Representative Ron Kirk said in his testimony before the Senate Committee on Agriculture.
"Success will depend particularly on engagement by emerging markets such as China, Brazil, and India, which must make contributions commensurate with their position in the global economy," he said.
Kirk said among his most pressing concerns on agricultural non-tariff measures are Chinese and Indian certification requirements for US dairy exports and unjustified barriers on beef, pork and poultry products in China, Japan, Taiwan and elsewhere.
"The Obama Administration is committed to trade policies that keep American farmers and ranchers supplying high quality food and fibre around the world," Kirk said.
In the Asia-Pacific, the USTR is leading negotiations on a new, high-standard, 21st century Trans-Pacific Partnership (TPP) Agreement that will ensure American farmers and ranchers access to the region's dynamic and growing markets for decades to come, Kirk said.
As a result of the steps taken by the Obama Administration, he said American farmers and ranchers now have greater access to world markets because long-standing disputes and barriers to US agricultural products have been resolved.
For instance, Kirk said the US succeeded in reopening markets in Russia, China, Ukraine, Korea, Honduras and Thailand to US pork and/or live hogs after the H1N1 influenza outbreak.
"Last year, we also took a huge step forward in a 20-year-long dispute with the EU over beef by securing significant additional access at zero duty for America's farmers and ranchers, resulting in $48 million in beef sales to the EU from the time the agreement went into force through May," he said.
"We are working with Russia on implementation of its June agreement to permit the resumption of US poultry exports to its market -- which is potentially worth hundreds of millions of dollars to our poultry farmers. We are also moving forward with a WTO case against Europe's ban on US poultry," he said.
Meanwhile,India's high economic growth is leading to inflationary pressures, Finance Minister Pranab Mukherjee said in parliament on Wednesday.It is UNTRUTH as the First Econmomy USA and Second Econmoy Japan have no background of Inflation for years. On the other hand, Inflation and Budget Deficit hit most the Growth rate. The fainace Minister is misleading the Parliament as well as the Country!
Asia's third largest economy is seen expanding 8.5 percent in the year to end-March 2011. Wholesale price inflation in June stood at 10.55 percent and Chief Statistician of India T.C.A. Anant said last month that July headline inflation could be around 11 percent.
India's central bank raised interest rates more forcefully than expected last week, signalling its urgency to stamp on inflation.
Mukherjee was replying to a parliamentary debate on price rise, a political hot potato that has given the opposition a handy tool to attack the government with and block proceedings in the house since its opening last week.
Exempt forex loans from withholding tax: Assocham
Industry body Assocham today demanded withdrawal of withholding tax on foreign currency loans to encourage corporates raise funds from abroad."Withholding tax on foreign currency loans (FCL) needs to be withdrawn immediately so as to make cost of such loans more competitive and reasonable," the chamber.
The industry body has submitted a representation in this regard to Finance Minister Pranab Mukherjee.
Withholding tax is a government requirement for the payer of an item of income to withhold or deduct tax from the payment, and pay that tax to the government.
It said interest on foreign currency loan works out to be over 26 per cent which used to be exempted until fiscal 2000. The Finance Act of 2001, however, withdrew this exemption under the Income Tax Act.
"Since then, industry has been demanding restoration of exemption in respect of interest paid on foreign currency loans but has been of no use," Assocham President Swati Piramal said.
She pointed out that withdrawal of this benefit has substantially increased cost of overseas funds since interest paid on such loans is subject to withholding tax at the effective tax rate of 26.77 per cent.
India-EU trade opening pact likely this year: Sharma
The India-European Union Free Trade Agreement, under negotiations for the last three years, is expected to be finalised by the end of this year, Commerce and Industry Minister Anand Sharma said today."In the last India-EU summit, a mandate was given that we should conclude it (FTA) this year. I am very optimistic that we — both me and the EU Trade Commissioner — will be able to report positively in the next summit," he said here.
Sharma said this while participating in a panel discussion, which included British Prime Minister David Cameron.
Negotiators from the two sides have held several rounds of talks and are trying to resolve certain issues, including the insistence of some EU members to include non-trade issues such as environmental concerns and child labour, in the pact.
However, India is opposed to this. India has been negotiating the market-opening pact with the EU, its largest trading partner, since June 2007. The India-EU bilateral trade was valued at USD 82 billion in the last fiscal.
The two sides want to remove trade barriers in goods and services and investments across all sectors of the economy.
According to a Ficci-Grant Thornton report, bilateral trade is expected to exceed Euro 70.7 billion (USD 91.4 billion) by 2010 and Euro 160.6 billion (USD 207.6 billion) by 2015.
India, Switzerland conclude talks to revise tax treaty
31 Jul 2010, 0839 hrs IST,ET BureauNEW DELHI: The government has concluded the renegotiation for widening the ambit of its tax treaty with Switzerland to access information on Swiss bank accounts, a big step towards tracing Indian money stashed away overseas.
The tax treaty has been amended on the lines of the OECD Model Tax Convention, which means it will not provide for roving enquiries, or fishing expeditions as they are commonly called.
The revised agreement is expected to be taken up by the Cabinet shortly, a senior official with the Central Board of Direct Taxes said.
The new treaty will be notified by India immediately after it is signed, but the Swiss authorities will be able to put the agreement into effect only after it is ratified by their Parliament.
India's income-tax authorities will be able to access information on Swiss bank accounts of Indians more easily, but only in specific cases where they have a prima facie evidence of wrongdoing.
For example, I-T sleuths can now source data on bank accounts used to acquire stakes in some Indian Premier League franchisees. The availability of information would help the I-T department in its investigation.
The Enforcement Directorate has already issued show cause notices to some Indian citizens for maintaining banks accounts in Switzerland and the government has initiated steps to elicit requisite information from Swiss authorities.
"The renegotiation of the double taxation avoidance agreement (DTAA) between India and Swiss Confederation has been concluded. The matter is being actively pursued for early entry into force of the amended DTAA," finance minister Pranab Mukherjee said on Friday in reply to a query in Lok Sabha.
The government had approached Switzerland in April 2009 to renegotiate the DTAA to get access to information on bank accounts.
Switzerland has also amended tax treaties with the US, France and Italy.
The issue of tainted money stashed away in Swiss bank accounts had taken centre stage during general elections in India last year and has again come to limelight after the US entered into a deal with leading Swiss bank UBS on information exchange on tax evaders.
The information exchange in this case was under a deferred prosecution agreement between UBS and the US department of justice and not US-Swiss DTAA.
India is pursuing the issue of exchange of information with other countries as well and would seek amendment in tax treaties with them. The move is in line with a decision taken at the G-20, which took up the issue of tax havens.
 * | True stress test yet to happen Treasury gains helped Indian banks come out of the global meltdown unscathed. But double standard restructured assets. |
Confused signals
The RBI's first-quarter review suggests a diffident central bank, one that is not sure of itself, and that is bad news for the economy.
Affordable green energy
Public scepticism about global warming may be growing, but the scientific consensus is as solid as ever.
http://economictimes.indiatimes.com/Opinion/opinionshome/897228639.cms
'Mimic' Advani steals show at BJP talent party
They have known L K Advani as the "loh purush" of the BJP, seen him catapulting the party into power and heard him talk passionately about issues of national importance. But some of the BJP MPs had a pleasant surprise this week when they heard their senior shedding his tough demeanor and imitating a yesteryear cricket commentator at an informal dinner.For, Advani rarely reveals his lighter side and when he opened up it was a surprise for even Sushma Swaraj, who has known him for years. The dinner was part of the Leader of the Opposition's initiative to help the lawmakers unwind and get them familiar with each other.
Ever since Swaraj took over as the Leader of the Opposition, she has been organising such informal get- togethers. The lawmakers are divided into groups of 10 - while the criteria was age during the Budget session it is 'talent' this time around - and members of each group are invited for dinner by the group leader.
The dinner sessions - titled 'pratibha chayan' - have got off to a great start. At one of the get-togethers this week, cricket buff Advani broke into a mimicking mode. He picked on a yesteryear commentator and imitated his style of commentary in the Bombay Pentagular cricket matches, Swaraj said. There was more surprise in store.
Advani, who is a regular in the blogosphere now, revealed his interest in movies and his ability to play flute and drums. "Advaniji said he used to teach singing at RSS shakhas although he believes he doesn't have a good voice," she said.
The dinner was hosted by Guwahati MP Bijoya Chakravarty for MPs from North-East, West Bengal and Himachal Pradesh.
So, how did Swaraj pick the theme of talent. "When I was on a visit to Raipur recently, I went to the house of Ramesh Bais (BJP chief whip in the Lok Sabha). I saw a magnificent statue of Ganeshji. Rameshji's wife told me that he sculpted that statue and he is now working on a six-feet tall statue of Ganeshji. I was surprised. Our MPs have many talents and skills that we don't know," she says.
More interesting facts tumbled out during the dinner. BJP's Deputy Leader in the Lok Sabha Gopinath Munde told fellow MPs that he was debating champion in his college days and it was during one such debating sessions that he met BJP leader Pramod Mahajan, whose sister he later married.
"Mundeji met Pramod during one of the debating sessions and then showed his talent by running away with Pramod's sister," Swaraj said in a lighter vein.
So, what talent did Swaraj reveal? She told her colleagues that she was a trained folk dancer. Besides she was a sergeant major in NCC and champion in elocution and debating. She also played badminton and kho-kho.
Govt moves Gujarat HC to cancel bail of Bajrangi in riot cases
The Special Investigating Team (SIT) probing afresh some of the 2002 post-Godhra riot cases and Gujarat government have sought cancellation of bail granted to former VHP leader and accused Babu Bajrangi. An application for cancellation of bail of Bajrangi, an accused in rioting at Naroda Patiya and Narod Gam here, was filed in the Gujarat High Court in the last week of July.When the plea came up for hearing today, Justice Z K Saiyad adjourned the matter till August 30. Special Public Prosecutor J M Panchal said the state government is seeking revocation of Bajrangi''s bail on the ground of his statements made during Tehelka web portal''s sting operation of 2007.
In the video tapes, Bajrangi is purportedly shown boasting about his heroics during the riots and how he had instigated mobs in attacking the minority community. He was arrested in 2002 and later granted bail by the High Court.
Meanwhile, the government and SIT have also challenged an order of the designated court, hearing the Naroda Gam case, disallowing SIT from taking voice samples of Bajrangi and former VHP leader Jaydeep Patel for the purpose of matching them with the voice contained in Tehelka tapes. Justice Akil Kureshi had issued notices early this week in this regard and fixed further hearing for August 30.
India M&A deals this year near $50-bn; treble from '09 level
India Inc seems to have regained its deal-making appetite with merger and acquisitions so far this year nearing the $50 billion level -- already over three times the total for entire 2009.There were M&A deals worth about $16 billion in 2009, down from close to $40 billion in 2008.
Indicating that deal valuations are also witnessing a revival in line with the recovery in stock markets and overall economy, the value of M&A deal has risen despite a decline in the number of transactions.
According to data compiled by research firm VCCEdge, the M&A deal value rose nearly five-times to $5.4 billion in July 2010 alone, from $1.1 billion in July 2009.
So far in 2010, that is between January and July, the cumulative M&A deal value has touched $49.7 billion, as compared to $16.3 billion in the whole of 2009, VCCEdge said in its monthly deal report.
There have been 411 M&A deals so far this year, down from 453 deals seen in 2009, the report noted. July also saw fewer deals at 42, as compared to 47 in July 2009.
However, when compared to June 2010, a substantial drop was seen in both the deal value and volume. The deal value fell by 62 per cent and the numbers went down by 34 per cent.
Indian companies had announced 64 M&A deals in June 2010 with a total value of nearly $14.1 billion. The biggest month in terms of M&A deals so far this year has been March, which saw 72 deals worth a total of $14.35 billion.
VCCEdge further pointed out that the number of domestic deals decreased from 26 in July 2009 to 21 in July 2010.
But the value of domestic deals went up to $2.03 billion last month, from $282 million in July 2009.
In terms of volume, the number of outbound deals fell from 12 in July 2009 to eight in July 2010, while there were eight inbound deals in each of the two months.
The value of inbound deals still rose sharply year-over- year to $2.01 billion in July 2010 from $744 million.
The average deal size also rose to $216 million last month, from $61 million in July 2009.
VCCEdge report noted that energy, healthcare and materials were the most targetted sectors in July 2010, with each witnessing deals worth over one billion dollars.
The month's biggest deal was Reliance Natural Resources Ltd's merger with another Anil Ambani group firm Reliance Power in an all-stock deal valued at $1.56 billion.
The top five deals alone accounted for 88 per cent of total M&A deal activity in July 2010, VCCEdge said.
These included sale of Fortis Healthcare's 25.37 per cent stake in Parkway Holdings for $1.12 billion; Japanese major JFE Steel's $1.03 billion purchase of 14.99 per cent stake in JSW Steel; ABB's $965 million buyout offer for ABB India and Piramal Diagnostic Services' $128 million sale to Super Religare Lab (SRL).
Indian manufacturers optimistic about biz growth: KPMG
Indian manufacturers are optimistic about growth in business activities in the year ahead, with output and new orders expected to see considerable increase, a survey by KPMG International said. As per the global business outlook survey, businesses are ready to start investing again as healthy optimism, which was recorded earlier in the year, holds firm. Manufacturers in India hold a more optimistic business outlook for the year ahead in the latest June survey, as compared to the February survey. "With net balances of 57.9, Indian manufacturing output and new orders are both set to rise markedly. Expectations for these variables are the highest since July 2008," the survey stated. The survey works on a net balance basis, with the percentage of respondents who are pessimistic about their company's outlook in 12 months' time getting deducted from the percentage that feels optimistic about the future. Revenues of manufacturers are forecast to grow sharply in the next 12 months, pursuant to the growth in manufacturing output and rise in new orders. "The latest Indian survey data is notable for the way in which confidence is oozing through the manufacturing sector. India has set its sights on becoming a global manufacturing hub and seems well on its way to achieving this aim," KPMG India Advisory Head Richard Rekhy said. "Productivity is improving, as is quality, with a large number of Indian manufacturers now holding their own in terms of quality comparisons with their Asian competitors," Rekhy added. However, with input costs expected to increase much faster than charges, companies anticipate a slower rise in profits (49.7) than revenues (61.9), the survey revealed. KPMG cautioned that inflation will be the watchword. "The growth which India is pursuing will very likely lead to a rise in inflation. Energy and wage costs are already increasing but it is food costs that most people worry about. As inflation hits food prices, this affects the poorest members of society the most," Rekhy added. The KPMG report stated that solid expansions in both R&D and capital spending are expected. Also, there is better forecast for business activity, and new orders have propelled expectations of higher employment and capacity utilisation, it added. |
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POSCO in joint venture with Indonesian steelmaker
SEOUL: South Korea's largest steelmaker POSCO said it signed an agreement Wednesday with Indonesia's Krakatau Steel to set up a joint venture in the Southeast Asian country.The steel mill will be built at Cilegon in West Java in two phases. When the first phase is completed by 2013, it will have an annual capacity of three million tons.
Completion of the second phase will double capacity but no timeframe for that has been set so far.
POSCO will own 70 percent of the venture. Krakatau will hold the remaining 30 percent but may increase its share to 45 percent later, POSCO said.
"We will actively consider investment in infrastructure, energy and various other projects in cooperation with PT Krakatau," POSCO chairman Chung Joon-Yang said at the signing ceremony in Jakarta.
Gunfight with Maoists over, missing Chhattisgarh cops safeHindustan Times - 3 hours agoSecurity forces fought a long-drawn gun battle with heavily armed Maoists in a forest in Chhattisgarh's Dantewada area that ended on Wednesday evening, a top police official said, adding that the 70 policemen earlier reported missing were found to be ...Maoist clash with Indian policeAljazeera.net - 3 hours agoIndian police and Maoist fighter have fought a fierce gun-battle deep in the rebels' jungle stronghold. The violence flared on Wednesday when a police patrol of about 70 men was ambushed by up to 200 Maoist fighters in the central state of Chhattisgarh ...70 Indian Police Missing After BattleWall Street Journal - Devin Banerjee - 4 hours agoNEW DELHI—Indian security forces clashed with 200 Maoist insurgents in the central Indian state of Chhattisgarh on Wednesday, resulting in a major gun battle in thick forest and heavy rain. No casualties have been reported, ...'Security personnel safe after Maoist attack in Bastar'Indian Express - 5 hours agoAmid growing worries over the safety of security personnel, who were caught in the Maoist ambush in the dense forests of Gumiyapal, Chhattisgarh police has claimed that all the members of state's Special Task Force (STF), Dantewada district police ...Security forces clash with Maoists in central IndiaAFP - 5 hours agoRAIPUR, India — Security forces fought a pitched jungle battle Wednesday with Maoist rebels in central India, officials said, with no casualties reported on the government side. The clash, involving 225 police and commandos and an unspecified number of ...Naxals spring another ambush in DantewadaFinancial Express - 36 minutes agoRaipur: Naxalites on Wednesday ambushed personnel of the Chhattisgarh police, Special Task Force and Koya Commandos in the forests of Gumiyapal in Dantewada. After a fierce gunbattle, police claimed their personnel were safe and had inflicted ...Chhattisgarh police refute reports on missing copsNagaland Post - 15 minutes agoIGP Bastar region TJ longkumer, IPS speaking to Nagaland Post Wednesday dismissed news reports by various agencies which reported that about 70 Chhattisgarh police personnel went missing after a fierce gun battle with Naxal in Gumiapal under Dantewada ...5-hr gunbattle with Maoists in DantewadaCentral Chronicle - 1 hour agoChhattisgarh Additional Director General of Police Ramniwas today said the state police had suffered no casualty in the five-hour gun battle with Maoists in the dense Guniyapal forest in Dantewada. The fiece encounter took place about 12 km away from ...80 Indian police in gunbattle with MaoistsCNN - Harmeet Shah Singh - 8 hours agoIndian troops on patrol in a jungle area known to be a Maoist stronghold earlier this year. New Delhi, India (CNN) -- Dozens of police officers were involved in a gunbattle with rebel Maoists in the rain-drenched forests of ...All 31 related articles » | RelatedDantewadaRaipur, ChhattisgarhImagesIndian ExpressAFPAFPStock Market To...CRIENGLISH.comTopNewsAll related images »VideosClash breaks out between Maoists and security forcesNewsX - 5 hours ago Watch video<div class="video-thumb thumbnail"><a class="js-link thumbnail-toggle" href="javascript:void(0);" onclick="return false;"><img src="http://i.ytimg.com/vi/qTYjlrVUlNY/default.jpg" alt="" class="thumbnail" width="120" height="90"> <div class="icon play-icon"></div></a></div> <div class="video-details"><a href="http://www.youtube.com/watch?v=qTYjlrVUlNY">Clash breaks out between Maoists and security forces</a> <span class="source">NewsX</span> - 5 hours ago <div class="icon video-icon"></div> <a href="http://www.youtube.com/watch?v=qTYjlrVUlNY">Watch video</a></div>
All relat |
Exposing Commonwealth Games' blunders & plunder
Daily News & Analysis - 48 minutes agoThe skeletons are tumbling out of the Organising Committee (OC) of the Commonwealth Games faster than one can count them. ...
Video: Congress distances itself from Kalmadi
Commonwealth Games: Congress steers clear of controversies The Hindu
Kiwi Olympic body chief dismisses fears over Delhi Commonwealth Games Times of India
NDTV.com - Deccan Herald
all 907 news articles »Email this story
NDTV.com
I'm confident to do well in Commonwealth Games: Saina
Times of India - 5 hours agoThe 20-year-old Hyderabadi is also one of the brand ambassador of the 2010 Commonwealth Games. Saina wished all the best to Dinaz, a prominent fitness ...
Man with golden gun sees red Calcutta Telegraph
Saina scores on cricket field Deccan Chronicle
Sports ,Saina Nehwal : 'It's hilarious to be on top', The Day After
all 21 news articles »Email this story
NDTV.com
India should not have bid for Commonwealth Games: Bhaichung
Sify - 3 hours agoIndian soccer captain Bhaichung Bhutia Wednesday asserted that the country should not have bid for the Commonwealth Games saying that the existing ...
Hosting CWG a bad idea, says Bhutia Hindustan Times
India shouldn't have become CWG host: Bhutia Times of India
India not prepared for CWG: Bhutia indiablooms
all 36 news articles »Email this story
Xinhua
Guangzhou says ready for Asian Games, while Delhi struggles with CWG
Economic Times - 58 minutes agoNEW DELHI: While New Delhi continues to face criticism over leaking stadia and lack of preparedness for the 2010 Commonwealth Games, the Chinese city of ...
Wants injury-free build-up to CWG, Asian Games: Poncha NDTV.com
all 23 news articles »Email this story
NDTV.com
Pravesh Rana to host Commonwealth Games curtain raiser
NDTV.com - 47 minutes agoPTI After his stint in Big Boss 3, model Pravesh Rana's career seems to be touching new heights as he has been roped in to present the Commonwealth Games ...
The Hindu
Railways to dump Commonwealth Games?
Oneindia - 14 hours agoNew Delhi, Aug 4: Trouble continues to pour in for the Delhi Commonwealth Games organisers as the Indian Railways, a key sponsor, is now in odds with the ...
Misuse of funds: Railways seek clarification from Games committee Hindustan Times
Aussie firm denies getting commission from Games Organising Committee Times of India
Commonwealth Games 2010 May Lose Its Lead Public Sector Sponsor Railways ABC Live
India Today - Zee News
all 50 news articles »Email this story
After Games row, number of RTI applications soars
Hindustan Times - 7 minutes agoThe layman's curiosity about Commonwealth Games related projects has reached a new high. People from across the country are filing applications under the ...
Auditor general should probe fund diversion: RTI activist Hindustan Times
all 10 news articles »Email this story
More Than The Games
Idowu commits to Commonwealth Games
Yahoo! Eurosport UK - 1 hour agoBut Idowu, who won Commonwealth Games gold in Melbourne four years ago, is adamant he will don the England vest in October. "I'm looking forward to going ...
HC declines to hear PIL on Commonwealth Games projects Economic Times
High court dismisses PIL on Commonwealth Games Sify
'Amount spent on C'wealth Games could have been used for better purposes' Rediff
RunnersWeb - The Gazette
all 20 news articles »
हिंदी मेंEmail this story
India Talkies
Australia readies dengue repellent for its CWG athletes
Hindustan Times - 3 hours agoPTI Fearing of a dengue outbreak in New Delhi during Commonwealth Games, Australian Commonwealth Games Association has already kept a container-load of ...
Australia sends container-load of mosquito repellents for CWG athletes Hindustan Times
MCD blames Games work for rise in dengue cases Times of India
Most Games projects to be over by August 20: MCD Times of India
Times of India - Indian Express
all 85 news articles »Email this story
We shouldn't have bid for the Commonwealth Games: Bhutia
Times of India - Nilesh Bhattacharya - 7 minutes agoKOLKATA: Baichung Bhutia on Wednesday added fuel to the Commonwealth Games fire, saying that the country should not have hosted the event in the first place ...
Reuters India
After corruption charges, CWG to buy treadmills, not hire them
Hindustan Times - 2 hours agoCommonwealth games Muscat shera meeting the students on the first day of filing form for admission... The Commonwealth Games Organising Committee (CGOC) on ...
20 Games contracts under scanner of intel agencies Asian Age
Need further CVC probe into CWG fund diversion: Expert Moneycontrol.com
Technical teams moved to games venues: Lalit Bhanot Sify
Yahoo! Eurosport UK - Indian Express
all 67 news articles »
हिंदी मेंEmail this story
Indian Express
CAG enters Commonwealth Games, but report not before March next
Economic Times - 19 hours agoNEW DELHI: The Comptroller and Auditor General of India (CAG) has started a detailed audit into finances of Commonwealth Games (CWG), days after the Central ...
Kalmadi says he's ready to face CAG scrutiny on alleged CWG scam Sify
Games panel aims for sky Hindustan Times
Manmohan ignored warning on impending CWG crisis India Today
india-server.com
all 69 news articles »Email this story
BBC News (blog)
Games theory
Times of India - Aug 3, 2010... officials who've been getting kickbacks and cutting corners at the expense of the country's reputation as it prepares to host the Commonwealth Games. ...
Video: Commonwealth: Crumbling Games?
Australian Games firm denies allegations Sydney Morning Herald
Commonwealth Games looting common Indian Oneindia
Mumbai Mirror - Hindustan Times
all 904 news articles »Email this story
Moneycontrol.com
Delhi will give India Games to be proud of Sheila Dikshit
Moneycontrol.com - 6 hours agoThe big question today though is will she manage to get this city state rise to the occasion and host the perfect CommonWealth Games in October or will ...
Video: Delhi CM denies diversion of funds for CWG
Delhi govt document shows funds meant for SCs diverted for Commonwealth Games Daily News & Analysis
BJP demands Dikshit's sacking Hindustan Times
IBNLive.com - NDTV.com
all 191 news articles »Email this story
Zee News
Did Commonwealth Games official ask AM Films to inflate taxi rates?
NDTV.com - 14 hours agoNew Delhi/London: The Organising Committee of the Commonwealth Games (CWG) has been inundated with allegations that it has awarded contracts to companies ...
Video: Ashish Patel banned by Resitrar of Companies till 2017
Did CWG inflate taxi rates? Times Now.tv
Ashish Patel banned till 2017 by Registrar of Companies Times of India
all 16 news articles »Email this story
Oneindia
CPI(M) seeks inquiry into Commonwealth Games costs
Oneindia - 16 hours agoNew Delhi, Aug 4: As the authorities behind the organisation of the Delhi Commonwealth Games have come under the scanner over allegations of corruption, ...
CPI(M) questions 'huge' spending on renovation of Commonwealth Games stadia Daily News & Analysis
CWG scam: New stadium costs Rs 84 cr, JLN renovation Rs 961 cr! Economic Times
Yechury questions huge spending on renovation The Hindu
Sify
all 5 news articles »Email this story
India Talkies
Cong-BJP slanging match in MCD over CWG corruption
Indian Express - 6 hours agoThe BJP and Congress in MCD today traded charges and counter-charges over alleged corruption in Commonwealth Games projects, with the ruling party hitting ...
CBI has over 300 complaints regarding Games works Indian Express
Blame game by Congress, BJP councillors on CWG graft Sify
'Streetlighting not under CWG work' Times of India
India Today - Asian Age
all 19 news articles »Email this story
Business Standard
Address corruption charges urgently, strongly: CGF chief
Hindustan Times - 6 hours agoCommonwealth Games Federation (CGF) chief Michael Fennell said on Wednesday that all allegations of irregularities into the Games projects should be dealt ...
Image of Games can't be damaged by corruption charges: Fennell Times of India
Q&A: Mike Hooper, CEO, Commonwealth Games Federation Business Standard
No back-ups if venues unusable: Games chief Sydney Morning Herald
AFP - NDTV.com
all 83 news articles »Email this story
PM asked to intercede to save Commonwealth Games
Sify - 10 hours agoPrime Minister Manmohan Singh has been asked to intercede to save the Commonwealth Games to protect the country's honour and prestige before the global ...
India Talkies
Court monitors camps for welfare of Games' workers
Sify - 3 hours ago... (DLSA) along with a panel of lawyers to hold camps for educating and registering workers employed at the Commonwealth Games construction sites. ...
Delhi HC asks Centre, city govt to act against erring contractors Hindustan Times
all 9 news articles »Email this story
India Talkies
M.S. Gill inaugurates Jamia Sports Complex in New Delhi
Sify - 4 hours agoBy giving it this infrastructure, it automatically becomes a games legacy for the Commonwealth Games because they will be used regularly," said Gill. ...
Gill inaugurates CWG venue, keeps mum on controversy Times of India
Govt will seriously deal with irregularities: Sports minister Hindustan Times
CWG venue inaugurated FV Current Waves
India Education Diary - indiablooms
all 52 news articles »
हिंदी मेंEmail this story
CWG lawn bowl turf overpriced nearly 6 times
IBNLive.com - 3 hours agoNew Delhi: The murky deals in preparing the Commonwealth Games venues seem never ending. In yet another scandal lawn bowling tracks to be used during the ...
SahilOnline
Uproar in Parliament over Belgaum, Commonwealth Games
Times of India - Aug 3, 2010... MPs disrupted proceedings over the Belgaum district dispute between Maharashtra and Karnataka and alleged diversion in Commonwealth Games funds. ...
Video: Sushma initiates price rise debate in LS
all 112 news articles »Email this story
Indian Express
Air India cancels $1.6 million brand makeover deal
Hindustan Times - 7 hours ago"Since National Aviation Company of India Limited (NACIL) has been designated as the official carrier for the Commonwealth Games, Cato Purnell Partners have ...
'Sick' AI planned 7.5cr makeover Times of India
Air India Hire consultants to prep up for the commonwealth games TopNews Singapore (press release)
AI orders $1.6-m revamp, Govt clueless, furious Indian Express
TopNews - Rediff
all 39 news articles »Email this story
Children's basic rights violated at CWG sites
Economic Times - 8 hours agoNEW DELHI: Yet another black mark against the Commonwealth Games organisers. Children of over 400000 construction workers at the Games sites are deprived of ...
Bowls veteran Willie Wood chosen for Commonwealth Games
BBC News - 6 hours agoVeteran bowls champion Willie Wood is set for a record eighth appearance at the Commonwealth Games after being chosen to represent Scotland in Delhi. ...
Transport body claims Games panel ignoring stakeholders
Indian Express - 16 hours agoThe tourist transport sector has lashed out at the Commonwealth Games Organising Committee (OC) for not using their services for the sporting event, ...
Suppliers hire treadmills for Rs 1 lakh, lease them to Games for Rs 10 lakh
Times of India - Josy Joseph - Aug 3, 2010NEW DELHI: The Commonwealth Games Organizing Committee isn't just executing shady deals but it is now telling blatant lies. The OC had surprised readers ...
For Games, OC hires treadmill at cost of Rs 9.7L Economic Times
all 13 news articles »Email this story
India Talkies
Maintenance work in 28 out of 46 selected monuments completed for C'Wealth Games
Daily News & Analysis - 3 hours agoPlace: New Delhi | Agency: PTI With just two months left for the Commonwealth Games, conservation and maintenance of only 28 out of the 46 selected ...
Over Rs.3 crore spent to maintain capital's monuments Sify
Facelift of Monuments Press Information Bureau (press release)
all 11 news articles »Email this story
India's rugby squad slogs without right diet
Times of India - 6 hours agoNEW DELHI: The Indian rugby squad for the Commonwealth Games is sweating it out in Pune without receiving the nutritional supplements and the computer ...
Exposing Commonwealth Games' blunders & plunder
Daily News & Analysis - 48 minutes agoThe skeletons are tumbling out of the Organising Committee (OC) of the Commonwealth Games faster than one can count them. ...
Video: Congress distances itself from Kalmadi
Commonwealth Games: Congress steers clear of controversies The Hindu
Kiwi Olympic body chief dismisses fears over Delhi Commonwealth Games Times of India
NDTV.com - Deccan Herald
all 907 news articles »Email this story
NDTV.com
I'm confident to do well in Commonwealth Games: Saina
Times of India - 5 hours agoThe 20-year-old Hyderabadi is also one of the brand ambassador of the 2010 Commonwealth Games. Saina wished all the best to Dinaz, a prominent fitness ...
Man with golden gun sees red Calcutta Telegraph
Saina scores on cricket field Deccan Chronicle
Sports ,Saina Nehwal : 'It's hilarious to be on top', The Day After
all 21 news articles »Email this story
NDTV.com
India should not have bid for Commonwealth Games: Bhaichung
Sify - 3 hours agoIndian soccer captain Bhaichung Bhutia Wednesday asserted that the country should not have bid for the Commonwealth Games saying that the existing ...
Hosting CWG a bad idea, says Bhutia Hindustan Times
India shouldn't have become CWG host: Bhutia Times of India
India not prepared for CWG: Bhutia indiablooms
all 36 news articles »Email this story
Xinhua
Guangzhou says ready for Asian Games, while Delhi struggles with CWG
Economic Times - 58 minutes agoNEW DELHI: While New Delhi continues to face criticism over leaking stadia and lack of preparedness for the 2010 Commonwealth Games, the Chinese city of ...
Wants injury-free build-up to CWG, Asian Games: Poncha NDTV.com
all 23 news articles »Email this story
NDTV.com
Pravesh Rana to host Commonwealth Games curtain raiser
NDTV.com - 47 minutes agoPTI After his stint in Big Boss 3, model Pravesh Rana's career seems to be touching new heights as he has been roped in to present the Commonwealth Games ...
The Hindu
Railways to dump Commonwealth Games?
Oneindia - 14 hours agoNew Delhi, Aug 4: Trouble continues to pour in for the Delhi Commonwealth Games organisers as the Indian Railways, a key sponsor, is now in odds with the ...
Misuse of funds: Railways seek clarification from Games committee Hindustan Times
Aussie firm denies getting commission from Games Organising Committee Times of India
Commonwealth Games 2010 May Lose Its Lead Public Sector Sponsor Railways ABC Live
India Today - Zee News
all 50 news articles »Email this story
After Games row, number of RTI applications soars
Hindustan Times - 7 minutes agoThe layman's curiosity about Commonwealth Games related projects has reached a new high. People from across the country are filing applications under the ...
Auditor general should probe fund diversion: RTI activist Hindustan Times
all 10 news articles »Email this story
More Than The Games
Idowu commits to Commonwealth Games
Yahoo! Eurosport UK - 1 hour agoBut Idowu, who won Commonwealth Games gold in Melbourne four years ago, is adamant he will don the England vest in October. "I'm looking forward to going ...
HC declines to hear PIL on Commonwealth Games projects Economic Times
High court dismisses PIL on Commonwealth Games Sify
'Amount spent on C'wealth Games could have been used for better purposes' Rediff
RunnersWeb - The Gazette
all 20 news articles »
हिंदी मेंEmail this story
India Talkies
Australia readies dengue repellent for its CWG athletes
Hindustan Times - 3 hours agoPTI Fearing of a dengue outbreak in New Delhi during Commonwealth Games, Australian Commonwealth Games Association has already kept a container-load of ...
Australia sends container-load of mosquito repellents for CWG athletes Hindustan Times
MCD blames Games work for rise in dengue cases Times of India
Most Games projects to be over by August 20: MCD Times of India
Times of India - Indian Express
all 85 news articles »Email this story
We shouldn't have bid for the Commonwealth Games: Bhutia
Times of India - Nilesh Bhattacharya - 7 minutes agoKOLKATA: Baichung Bhutia on Wednesday added fuel to the Commonwealth Games fire, saying that the country should not have hosted the event in the first place ...
Reuters India
After corruption charges, CWG to buy treadmills, not hire them
Hindustan Times - 2 hours agoCommonwealth games Muscat shera meeting the students on the first day of filing form for admission... The Commonwealth Games Organising Committee (CGOC) on ...
20 Games contracts under scanner of intel agencies Asian Age
Need further CVC probe into CWG fund diversion: Expert Moneycontrol.com
Technical teams moved to games venues: Lalit Bhanot Sify
Yahoo! Eurosport UK - Indian Express
all 67 news articles »
हिंदी मेंEmail this story
Indian Express
CAG enters Commonwealth Games, but report not before March next
Economic Times - 19 hours agoNEW DELHI: The Comptroller and Auditor General of India (CAG) has started a detailed audit into finances of Commonwealth Games (CWG), days after the Central ...
Kalmadi says he's ready to face CAG scrutiny on alleged CWG scam Sify
Games panel aims for sky Hindustan Times
Manmohan ignored warning on impending CWG crisis India Today
india-server.com
all 69 news articles »Email this story
BBC News (blog)
Games theory
Times of India - Aug 3, 2010... officials who've been getting kickbacks and cutting corners at the expense of the country's reputation as it prepares to host the Commonwealth Games. ...
Video: Commonwealth: Crumbling Games?
Australian Games firm denies allegations Sydney Morning Herald
Commonwealth Games looting common Indian Oneindia
Mumbai Mirror - Hindustan Times
all 904 news articles »Email this story
Moneycontrol.com
Delhi will give India Games to be proud of Sheila Dikshit
Moneycontrol.com - 6 hours agoThe big question today though is will she manage to get this city state rise to the occasion and host the perfect CommonWealth Games in October or will ...
Video: Delhi CM denies diversion of funds for CWG
Delhi govt document shows funds meant for SCs diverted for Commonwealth Games Daily News & Analysis
BJP demands Dikshit's sacking Hindustan Times
IBNLive.com - NDTV.com
all 191 news articles »Email this story
Zee News
Did Commonwealth Games official ask AM Films to inflate taxi rates?
NDTV.com - 14 hours agoNew Delhi/London: The Organising Committee of the Commonwealth Games (CWG) has been inundated with allegations that it has awarded contracts to companies ...
Video: Ashish Patel banned by Resitrar of Companies till 2017
Did CWG inflate taxi rates? Times Now.tv
Ashish Patel banned till 2017 by Registrar of Companies Times of India
all 16 news articles »Email this story
Oneindia
CPI(M) seeks inquiry into Commonwealth Games costs
Oneindia - 16 hours agoNew Delhi, Aug 4: As the authorities behind the organisation of the Delhi Commonwealth Games have come under the scanner over allegations of corruption, ...
CPI(M) questions 'huge' spending on renovation of Commonwealth Games stadia Daily News & Analysis
CWG scam: New stadium costs Rs 84 cr, JLN renovation Rs 961 cr! Economic Times
Yechury questions huge spending on renovation The Hindu
Sify
all 5 news articles »Email this story
India Talkies
Cong-BJP slanging match in MCD over CWG corruption
Indian Express - 6 hours agoThe BJP and Congress in MCD today traded charges and counter-charges over alleged corruption in Commonwealth Games projects, with the ruling party hitting ...
CBI has over 300 complaints regarding Games works Indian Express
Blame game by Congress, BJP councillors on CWG graft Sify
'Streetlighting not under CWG work' Times of India
India Today - Asian Age
all 19 news articles »Email this story
Business Standard
Address corruption charges urgently, strongly: CGF chief
Hindustan Times - 6 hours agoCommonwealth Games Federation (CGF) chief Michael Fennell said on Wednesday that all allegations of irregularities into the Games projects should be dealt ...
Image of Games can't be damaged by corruption charges: Fennell Times of India
Q&A: Mike Hooper, CEO, Commonwealth Games Federation Business Standard
No back-ups if venues unusable: Games chief Sydney Morning Herald
AFP - NDTV.com
all 83 news articles »Email this story
PM asked to intercede to save Commonwealth Games
Sify - 10 hours agoPrime Minister Manmohan Singh has been asked to intercede to save the Commonwealth Games to protect the country's honour and prestige before the global ...
India Talkies
Court monitors camps for welfare of Games' workers
Sify - 3 hours ago... (DLSA) along with a panel of lawyers to hold camps for educating and registering workers employed at the Commonwealth Games construction sites. ...
Delhi HC asks Centre, city govt to act against erring contractors Hindustan Times
all 9 news articles »Email this story
India Talkies
M.S. Gill inaugurates Jamia Sports Complex in New Delhi
Sify - 4 hours agoBy giving it this infrastructure, it automatically becomes a games legacy for the Commonwealth Games because they will be used regularly," said Gill. ...
Gill inaugurates CWG venue, keeps mum on controversy Times of India
Govt will seriously deal with irregularities: Sports minister Hindustan Times
CWG venue inaugurated FV Current Waves
India Education Diary - indiablooms
all 52 news articles »
हिंदी मेंEmail this story
CWG lawn bowl turf overpriced nearly 6 times
IBNLive.com - 3 hours agoNew Delhi: The murky deals in preparing the Commonwealth Games venues seem never ending. In yet another scandal lawn bowling tracks to be used during the ...
SahilOnline
Uproar in Parliament over Belgaum, Commonwealth Games
Times of India - Aug 3, 2010... MPs disrupted proceedings over the Belgaum district dispute between Maharashtra and Karnataka and alleged diversion in Commonwealth Games funds. ...
Video: Sushma initiates price rise debate in LS
all 112 news articles »Email this story
Indian Express
Air India cancels $1.6 million brand makeover deal
Hindustan Times - 7 hours ago"Since National Aviation Company of India Limited (NACIL) has been designated as the official carrier for the Commonwealth Games, Cato Purnell Partners have ...
'Sick' AI planned 7.5cr makeover Times of India
Air India Hire consultants to prep up for the commonwealth games TopNews Singapore (press release)
AI orders $1.6-m revamp, Govt clueless, furious Indian Express
TopNews - Rediff
all 39 news articles »Email this story
Children's basic rights violated at CWG sites
Economic Times - 8 hours agoNEW DELHI: Yet another black mark against the Commonwealth Games organisers. Children of over 400000 construction workers at the Games sites are deprived of ...
Bowls veteran Willie Wood chosen for Commonwealth Games
BBC News - 6 hours agoVeteran bowls champion Willie Wood is set for a record eighth appearance at the Commonwealth Games after being chosen to represent Scotland in Delhi. ...
Transport body claims Games panel ignoring stakeholders
Indian Express - 16 hours agoThe tourist transport sector has lashed out at the Commonwealth Games Organising Committee (OC) for not using their services for the sporting event, ...
Suppliers hire treadmills for Rs 1 lakh, lease them to Games for Rs 10 lakh
Times of India - Josy Joseph - Aug 3, 2010NEW DELHI: The Commonwealth Games Organizing Committee isn't just executing shady deals but it is now telling blatant lies. The OC had surprised readers ...
For Games, OC hires treadmill at cost of Rs 9.7L Economic Times
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India Talkies
Maintenance work in 28 out of 46 selected monuments completed for C'Wealth Games
Daily News & Analysis - 3 hours agoPlace: New Delhi | Agency: PTI With just two months left for the Commonwealth Games, conservation and maintenance of only 28 out of the 46 selected ...
Over Rs.3 crore spent to maintain capital's monuments Sify
Facelift of Monuments Press Information Bureau (press release)
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India's rugby squad slogs without right diet
Times of India - 6 hours agoNEW DELHI: The Indian rugby squad for the Commonwealth Games is sweating it out in Pune without receiving the nutritional supplements and the computer ...
"in meeting our own people" ... "I have been meeting those from different shades of opinion. Prime Minister Minister Manmohan Singh"
Jul 30, 2010 Hindustan Times (15 occurrences)
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msnbc.com
Heed voices of reason, desist from violence, P Chidambaram tells Kashmir
Daily News & Analysis - 22 minutes agoUrging the people of Kashmir to desist from violent protests, home minister P Chidambaram on Wednesday promised to reactivate dialogue to address their ...
Chidambaram backs Omar, appeals for peace in Kashmir Times of India
Have faith in Omar govt, appeals Chidambaram IBNLive.com
Chidambaram appeals people to end violence in J-K Sify
Financial Express
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Calcutta Telegraph
No foreign money coming to Maoists: Chidambaram
Economic Times - 8 hours agoOn the issue of Naga blockage, Chidambaram said: "The security has been heightened along the blocked National Highway-39 in Manipur, after Naga groups ...
Action plan for Naxal-hit districts soon: Chidambaram Times of India
No foreign money coming to Maoists: Chidambaram Sify
Action plan to go beyond worst-affected districts Hindustan Times
Wall Street Journal (blog) - India Today
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Kerala to probe forged letters sent to Chidambaram
Sify - 5 hours agoThe forged letters sent last week in the name of Chief Minister VS Achuthanandan and Balakrishnan asked Chidambaram not to consider giving the Indian Police ...
VS govt to probe forged letter Indian Express
Kerala police starts probe on forged letter Hindustan Times
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Oneindia
Key highway in northeast open: Chidambaram
Sify - 9 hours agoEven as the Naga groups threaten another blockade of a key national highway leading to Manipur, Home Minister P. Chidambaram Wednesday informed the Rajya ...
Video: Fresh blockade in Manipur
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Financial Times
Singapore Foreign Minister Yeo meets Chidambaram
Sify - 12 hours agoBoth leaders discussed a wide range of bilateral issues with the intention of furthering mutual interests and friendship. Yeo, who is currently on a ...
Up to $10m could be raised by S'poreans for cultural university in India Channel News Asia
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Chidambaram to make a statement on Kashmir tomorrow
Hindustan Times - Aug 3, 2010PTI Home Minister P Chidambaram will make a statement in the Lok Sabha on Wednesday on the troubled situation in Kashmir, government sources said on Tuesday ...
Moneycontrol.com
Chidambaram calls Kashmir situation `serious'
Times of India - Aug 2, 2010NEW DELHI: The volatile Kashmir situation had its reverberations in the Lok Sabha on Monday with home minister P Chidambaram terming it as `serious' ...
Video: Kashmir: 4 killed, Centre to send more forces
Situation has taken a serious turn: Chidambaram The Hindu
Kashmir on the boil: Omar to meet Chidambaram, PM in Delhi Hindustan Times
Daily News & Analysis - Sify
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Oneindia
Delhi govt paid Rs 154 cr to anti-Sikh riot victims, says home minister
Daily News & Analysis - 10 hours agoChidambaram said riot-related claims in Bihar, Chhattisgarh, Haryana, Jammu and Kashmir, Jharkhand, Madhya Pradesh, Maharashtra, Orissa, Punjab, Uttrakhand, ...
Center advices States to grant liberal assistance to 84'anti sikh riots victims Samachar Today (blog)
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The Hindu
Sangam era characters come alive on Chidambaram flyover parapet walls
The Hindu - Aug 3, 2010The Hindu ARTISTIC MAKEOVER: The parapet walls of a flyover at Chidambaram being adorned by paintings of characters from Tamil Literature. ...
NDTV.com
Mamata asks Chidambaram to look into illegal arms stockpile
IBNLive.com - Aug 2, 2010... Trinamool Congress chief Mamata Banerjee today requested Union Home Minister P Chidambaram to look into the matter and take action. ...
Mamata proposes meeting in Lalgarh Central Chronicle
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Gunfight with Maoists over, missing Chhattisgarh cops safe
Hindustan Times - 3 hours ago... presence of a unit headed by Communist Party of India-Maoist (CPI-Maoist) commander Ganesh Uike, state police spokesperson Rajesh Mishra told reporters. ...
Video: Clash breaks out between Maoists and security forces
Security forces clash with Maoists in central India AFP
India police hit by Maoist ambush BBC News
RTT News - The Canadian Press
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Kalta Mines come to halt due to Maoist threat
Economic Times - 1 hour ago... the Steel Authority of India's Kalta iron ore mines in Sundergarh district came to a grinding halt on Wednesday after the Maoists threatened retaliatory ...
The Hindu
Maoists await Shyam Saran visit with mixed feelings
Sify - 11 hours agoHowever, Poudel's chances of winning Friday's election are slim even if backed by India since he needs the support of both the communists and the Terai bloc ...
Shyam Saran in Nepal to help defuse political crisis Daily News & Analysis
India's New Mr. Fixit for Nepal Wall Street Journal (blog)
Postcard From Nepal CounterPunch
AFP - The Hindu
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Maoists destroy trucks carrying bauxite in Jharkhand
Sify - 1 hour ago"The supporters of the MCC (Maoist Communist Centre of India) burnt the trucks carrying bauxite mineral, which were plying on roads on the day when shutdown ...
Business Standard
India clamps down on Maoists to woo mining investors
Economic Times - Aug 2, 2010NEW DELHI: India's growing Maoist violence is worrying investors, forcing authorities to fight back aggressively in hopes of luring up to $7 billion in ...
India digs deep to outflank Maoists Asia Times Online
FACTBOX-What it takes to mine in India's Maoist lands Reuters Africa
India offers Maoist rebels cash for weapons National
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Maoists cause coal production loss: Coal minister
Daily News & Analysis - 4 hours agoCCL is a unit of the state-run Coal India Ltd, the country's monopoly coal producer. In the 2009-10 fiscal year, India produced 531 million tonnes of coal, ...
India Today
The propaganda battlefront
Livemint - Sudeep Chakravarti - 2 hours agoSimilarly, to completely withdraw paramilitary from tribal regions of India would cede the advantage to Maoists; while from the human rights perspective, ...
Govt sabotaged talks with Maoists: Swami Agnivesh India Today
Demand for judicial probe into killing of Azad, Pandey Indian Express
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Calcutta Telegraph
Action plan to go beyond worst-affected districts
Hindustan Times - 53 minutes agoThe final draft of the Integrated Action Plan (IAP) for development of Maoist-hit districts will be ready in the next few days, Home Minister P Chidambaram ...
Not a Moment Too Soon on Naxal Plan Wall Street Journal (blog)
No Foreign Money Coming to Maoists: Chidambaram Daijiworld.com
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Oneindia
Don't agree with India's policy on Myanmar: Amartya
Indian Express - 22 hours agoSen also noted how Maoist violence was causing "disruption" of school education and how this was completely in contrast with the thinking and vision of ...
Prime Minister : full Literacy in the Country and Elimination of Gender bias ... Press Information Bureau (press release)
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Maoist shutdown hits road links in Ranchi
Sify - 5 hours agoPrime Minister Manmohan Singh has called the Maoists India's gravest internal security threat. Last year was the worst ever for casualties at more than 1000 ...
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Obama tells young African leaders to follow Mahatma Gandhi
US President Barack Obama, who sees Mahatma Gandhi as an inspiration, has asked young African leaders to follow the legendary Indian icon to bring the changes they want in their continent.
"One of the things that I think everybody here has to really internalise is the notion that, you know, I think it was (Mahatma) Gandhi who once said, you have to be the change that you seek," Obama said.
He was responding to a question after addressing a meeting of Young African Leaders Forum, which he had convened bringing in young leaders from nearly 50 African countries to the White House.
In his speech at the event, the first of its kind organised by the US for African leaders, Obama said Africa's future belongs to its young people.
"We are going to keep helping empower African youth, supporting education, increasing educational exchanges like the one that brought my father from Kenya, in the days when Kenyans were throwing off colonial rule and reaching for a new future," Obama said.
"We are helping to strengthen grassroots networks of young people who believe, as they are saying in Kenya today, yes, youth can."
"You represent the Africa that so often is overlooked: the great progress that many Africans have achieved, and the unlimited potential that you've got going forward into the 21st century," he added.
"I see Africa as a fundamental part of our interconnected world... we have to have a strong, self-reliant and prosperous Africa," he said.
"So the world needs your talents and your creativity. We need young Africans who are standing up and making thing happen, not only in their own countries but around the world. And the US wants to be your partner," Obama said.
Security agencies not buying RIM's arguments on BlackBerry
4 Aug 2010, 0737 hrs IST,Bharti Jain,ET BureauNEW DELHI: India's security establishment has taken a hard-line view on Canadian smartphone maker Research In Motion's stance that it does not possess a "master key" to intercept data traffic on its BlackBerry devices and has warned that services that cannot be monitored will be shut down.
"We are very clear that any BlackBerry service that cannot be fully intercepted by our agencies must be discontinued. Offering access to data is part of the telecom licensing guidelines and has to be adhered to," a top security official told ET.
But a compromise solution offered by RIM last week, which would allow security agencies to track emails without sharing encryption details, is currently being tested by the Intelligence Bureau, said the senior official. If these tests allow interception of services, a standoff will be averted.
While India has demanded that RIM share encryption keys to track all BlackBerry services, the Canadian company on Tuesday expressed its inability, saying even it could not read encrypted information. "RIM does not possess a master key nor does any back door exist in the system that would allow RIM or any third party to gain an unauthorised access to the key or corporate data," the company said in a bid to assure corporates about the confidentiality of their sensitive data transmitted using its phones.
The firm is keen to avert a standoff with agencies in India, one of its fastest growing markets and already home to more than a million BlackBerry phones. BlackBerry is known to offer better security features than other smartphones, a major reason for its allure among corporates.
The growing pressure on RIM in India comes as the company faces its first major international ban. The UAE government on Sunday said it would bar BlackBerry services from October 11 due to security risks. Saudi Arabia is now expected to follow suit.
RIM said the security architecture for business customers was based on a so-called 'symmetric key system' under which only users can access the keys they create.
As part of a compromise solution offered to the government last week, the Canadian firm offered a way out for security agencies to track corporate email without sharing encryption details. It told the telecom department that it would provide user details on BlackBerry enterprise servers located at corporate premises that store emails in decrypted form and said security agencies could approach the companies and retrieve the information.
The BlackBerry maker also said it would work with mobile phone firms to open up access to all consumer emails within 15 days, adding that it would be developing tools in six to eight months to allow monitoring of its popular Blackberry Messenger chat service.
But the security agencies see this as only partly addressing their concerns as key services like business email would still remain indecipherable due to strong encryption. The Intelligence Bureau is testing "decompression solutions" offered by BlackBerry to help it track messaging and e-mail services.
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StanChart says India its biggest market with PBT at $624 mn
Global banking giant Standard Chartered's Indian operations registered a 19 per cent rise in pre-tax profit in H1 of 2010 at $624-million from the year-ago's $526-million, making India its biggest market world-wide."The economic fundamentals are very strong in India and we consider it to be our core market. We have grown both in the consumer as well as wholesale banking here," Standard Chartered's chief executive, India and South Asia, Neeraj Swaroop, told reporters in Mumbai on Wednesday.
At the group level, Standard Chartered PLC's profit before tax stood at $3.12-billion, up 10 per cent from $2.83-billion recorded in the corresponding period last year. The global net profit stood at $2.15-billion.
The lender, which listed on the Indian bourses by issuing Indian Depository Receipts (IDR) in June--the first by any company in India--saw net interest margins (NIM) firming up to 3.8 per cent in India while loan growth rose 24 per cent, Swaroop said.
However, the bank did not disclose its net profit figures for its Indian operations, as the half-yearly results computation is done on a global level every six months, Swaroop said.
Its deposits in India went up 30 per cent to $13.1-billion while advances increased to $10.2-billion in the first-half of 2010, Swaroop said.
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HSBC says subject of US money laundering probe
4 Aug 2010, 2030 hrs IST,REUTERSLONDON: American authorities are investigating the US division of global banking group HSBC over its compliance with anti-money laundering procedures, according to a regulatory filing. Governments around the world have put banks under intense scrutiny in the wake of the credit crisis, with UBS targeted in a US tax evasion probe last year while Royal Bank of Scotland was fined 5.6 million pounds ($8.94 million) this week for lax controls.
In the filing to the US Securities & Exchange Commission (SEC), which was posted on Monday, HSBC USA Inc stated it has received subpoenas and other requests for information as part of the probe. HSBC said in the filing that it was the subject of ongoing examinations by the Office of the Comptroller of the Currency, the Federal Reserve Bank of Chicago, the US Attorney's Office and the US Department of Justice.
"These examinations and inquiries pertain to, among other matters, our global banknotes business and our foreign correspondent banking business, and our compliance with the Bank Secrecy Act, Anti-Money Laundering and Office of Foreign Assets Control requirements," the filing said.
"In response to these matters, we have taken several initial steps to address the concerns of our regulators by enhancing risk management and strengthening processes and the supporting infrastructure in our Bank Secrecy Act and Anti-Money Laundering functions," it added.
An HSBC spokesman in London reiterated the company's comments in the SEC filing that HSBC was fully co-operating with the U.S authorities on the matter. HSBC has already drawn the attention of US authorities. The Department of Justice has opened a criminal investigation into whether some HSBC clients may have failed to disclose offshore accounts, lawyers familiar with the probe told Reuters last month.
In February, US Senator Carl Levin said he planned to refer HSBC to its US bank regulator in connection with questionable accounts it provided for senior Angolan officials.
HSBC has said it fully supports government moves for appropriate disclosure by its citizens and does not condone or assist tax evasion.
Global economic recovery loses some momentum: PMI
4 Aug 2010, 2124 hrs IST,REUTERSLONDON: Growth in the private sector slowed in July as the global economic recovery lost some momentum, a survey showed on Wednesday.
The Global Total Output index, produced by JPMorgan with research and supply management organisations, fell to 54.6 in July from 55.4 in June, although still above the 50 mark that divides growth from contraction.
"The global recovery continued to moderate into midyear. However, the boom in manufacturing output over the past year has yet to spill over into the service sector," said Joseph Lupton at JPMorgan.
The Global Services index eased to 54.3 in July from 54.9 in June, its lowest reading in five months but marking a year above the break-even point. However, total employment rose for the fifth month, with the workforce increasing in both the manufacturing and service sectors.
"A further move up in the employment component in the PMI is an encouraging sign that labour income will be providing additional fuel for the recovery as fiscal stimulus begins to wane," Lupton said.
Data released earlier on Wednesday showed the euro zone's dominant service sector picked up speed last month, but strong growth in Germany and France masked weakness in southern Europe.
The US services sector grew slightly more than expected in July, with new orders and employment rising in the latest month, according to an industry report released on Wednesday. The index combines survey data from countries including the United States, Japan, Germany, France, Britain, China and Russia.
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RCom has under-reported revenues: DoT report
The internal committee of DoT, studying a special auditor's report on RCom, is understood to have concluded that the Anil Ambani Group firm has under-reported revenues, which may have caused losses to the government. The committee has accepted most of the findings of the special auditor, including the observation that RCom should have included certain heads while arriving at the adjusted gross revenue (AGR). The DoT has also suggested that a legal opinion should be obtained before a decision is taken. When contacted, the RCom spokesperson declined to comment. However, the company had earlier termed the special auditor's report factually incorrect and misleading. Telcos pay a certain percentage of their adjusted gross revenue as spectrum usage charges and licence fee to DoT, and a lower AGR calculation would mean lesser payout to the government. Earlier, government-appointed special auditor Parakh and Co had said that RCom evaded licence and spectrum fees to the tune of Rs 315 crore, a charge that was refuted by the telecom company. The DoT committee said that the issue may have two dimensions -- date from which revenues have to be accounted for and whether the revenue from non-telecom activities can be taken into account for levying licence fee. "We may agree with the special auditor regarding the appointed date being applicable. As far as non-telecom revenues are concerned, final decision of the Supreme Court on TDSAT judgement may have to be awaited." Early last year, DoT had ordered a special audit of RCom's accounts following reports that the company was under-reporting revenues. DoT had also ordered audits of Bharti Airtel, Vodafone Essar, Idea Cellular and Tata Teleservices. These reports have also been submitted to DoT, and are under evaluation. The committee has, however, suggested that in case the issue requires an amendment in the licence condition, it should be done only after examining the special audit report of other operators. |
BSNL to provide free 2G, 3G sim to Cellone customers
JAIPUR: To celebrate the Independence Day, BSNL-Rajasthan on Wednesday announced to provide free of cost sim card of 2G and 3G to its Cellone customers, an official said here.The scheme would be opened till August 31, and any existing Cellone mobile user could get free of cost sim card after filing desired papers, BSNL-Rajasthan GM Marketing Sanjay Kumar said in a statement here.
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Football: Indian tycoon targets Blackburn takeover
LONDON: Blackburn Rovers could be the latest English club set for a takeover after Indian entrepreneur Ahasan Ali Syed made a formal approach to the club's advisors, it was reported on Wednesday.Owned by the trustees of the late Jack Walker, Blackburn currently have debts of around 20 million pounds (32 million US dollars) and are among several clubs involved in an annual battle for a place in the top half of the Premier League table.
According to the Daily Telegraph Syed, 36, the head of Bahrain-Swiss based investment firm Western Gulf Advisory, is proposing wiping out Blackburn's debts and investing heavily in the club to help turn around its fortunes.
Syed is reported to have approached Blackburn's advisers, Rothschild, and is set to launch a 300 million pounds takeover bid that would lift the club back towards their title-winning status of 1995.
WGA have a non-disclosure agreement about the talks but a company spokeswoman told The Sport Briefing: "I can confirm that we made a formal approach to buy Blackburn Rovers."
Blackburn declined to comment on any potential takeover, saying the matter was in the hands of Rothschilds, although the report added the club was "interested in the approach".
Blackburn meanwhile have said they were in talks with a "number of interested parties" about a possible takeover, according to chairman John Williams.
"There have been a number of interested parties for some time and discussions are ongoing," said Williams.
In June it was reported that another Indian entrepreneur, Saurin Shah, was preparing to bid for the club.
Currently, nine English Premier League clubs are in foreign hands -- Arsenal, Aston Villa, Birmingham, Chelsea, Fulham, Liverpool, Manchester United, Manchester City and Sunderland.
Liverpool have been on sale since April by US owners Tom Hicks and George Gillett, leading to reports on Monday they could be bought by a Chinese business tycoon, Kenny Huang, within days.
Dollar pares losses vs yen after ADP job report
4 Aug 2010, 1829 hrs IST,REUTERSNEW YORK: The dollar pared losses against the yen on Wednesday after data showed U.S. private employers hired 42,000 people in July, a bit more than economists expected.
Guangzhou says ready for Asian Games, while Delhi struggles with CWG
While New Delhi continues to face criticism over leaking stadia and lack of preparedness for the 2010 Commonwealth Games, the Chinese city of Guangzhou is leaving no stone unturned to pitch the message that it is ready to host the 16th Asian Games from November 12 to 27.While Delhi has 60 days left to get the games on anvil, Guangzhou, which is expected to be seen by over three million spectators, is ready 100 days in advance.
Over 14,000 athletes, trainers and coaches from 45 countries and regions are expected to compete in a total of 476 events in 42 sports.
A major televised event from Tianhe Gymnasium to mark the 100-day Countdown Ceremony entitled 'Dream About This Momenta' featured four parts and lasted for 100 minutes.
On the other hand, with less than two months to go, the 2010 CWG is mired in controversy over financial irregularities, missed deadlines and substandard construction.
Speaking about the forthcoming Games, Executive Deputy Secretary General of the Guangzhou Asian Games Organizing Committee (GAGOC) and Vice Mayor of Guangzhou Xu Ruisheng said: "The 16th Asian Games will leave rich legacies and benefit local residents."
"The Games will prove to be a highly engaging sport and cultural gala. Guangzhou has built substantial venues for the Games, including the futuristic Asian Games Gymnasium located at Asian Games Town," he added thanking Guangzhou citizens for their constant support of and involvement in the preparations for the 16th Asian Games.
Built at a cost of nearly US dollar118 million, the ultramodern Asian Games Gymnasium comprises stadiums for gymnasium, billiard sports and squash and an exhibition hall featuring the history of the Asian Games in Guangzhou.
Following reports of corruption, many institutions have pulled out of giving financial aid to the Commonwealth Games Organising Committee. The Board of Cricket Control in India has refused to give Rs 100 crore as aid to the Commonwealth Games Organising Committee (CGOC)
The Indian Railways has withheld its contribution of Rs 100 crore asking the CGOC to give in writing that no amount would go to any outside agency as commission. There was an uproar in the ongoing session of Parliament, with the opposition demanding Kalmadi's resignation.
The media is coming out with negative reports about the CGOC, with claims of access to various reports and documents, citing irregularities.
FM hits out at states for not doing enough to check inflation
Under attack from Opposition on the issue of rising prices, the Finance Minister today hit out at states for not taking appropriate steps to check hoarding and said that the Centre is "sensitive" to the problem.Listing out a series of efforts by the government to ameliorate the sufferings of the poor, Finance Minister Pranab Mukherjee said in the Lok Sabha that both the states as well as the Centre would have to collectively address the issue and take concrete steps including revamping the public distribution system (PDS).
The general inflation was 10.55 per cent in June, though the food inflation slipped to single digit at 9.67 per cent in week ended July 17.
Amid exchange of barbs during the reply to the debate of government action on inflation, Mukherjee said: "I am from a village... I studied under a kerosene lamp till my 10th class...commuted to school by walking, in today's terminology, 10 km everyday. Don't ridicule my sensitivity... sensitivity should not be a temporary thing...".
The government, he said, has kept the selling prices of foodgrains at PDS for the poor unchanged since 2002.
Hitting back at the opposition BJP, whose members constantly interrupted his reply, Mukherjee said that "when Petroleum Minister and I sat together and decided to increase prices of kerosene I was sensitive to the sufferings of poor... But what happened when NDA government (led by BJP) increased the kerosene price from Rs two to Rs 9 (a litre). We have increased only from Rs 9 to 12...
"Mere rhetorics can't locate petroleum sources... the priority is also to ensure the availability of products," he said, reminding that oil marketing PSUs were given a subsidy of Rs 1.03 lakh crore in 2008-09 to ensure that petro products were available at affordable prices.
Holding states also responsible for price rise, Mukherjee said, "They have (powers under) the Essential Commodities... take hoarding and de-hoarding operations. ESMA (Essential Services Maintenance Act) is with states...I will not pass on the buck to them alone."
He also sought support from all the political parties for immediate finalisation of Goods and Services Tax to enable the government to introduce bill for constitutional amendment for ushering in the major tax reform.
Such a tax reform would help check price variations and would be a win-win situation for all, he said adding that the states should also remember that 34 per cent of their tax kitty was coming out of the levies imposed by these on petro products to collect a total of Rs 72,000 crore.
FDI plunges by 45 per cent to $1.41 billion in June
Foreign direct investment in the country declined by about 45 per cent to $1.41 billion in June this year, an official said.The FDI inflows in June 2009 were $2.58 billion. The sectors which attracted foreign investment, include services, telecommunication, construction activities and computer software and hardware, the official added.
Crisil chief economist DK Joshi said that there was no specific reason for this decline as the foreign inflows fluctuates every month.
Foreign investment in May 2010 was at $2.2 billion. "In the coming months, the inflows are likely to be in healthy state...there could be some volatility given the global scenario, particularly the European events," Joshi said.
Meanwhile, Parliament was on Wednesday informed that FDI during the first quarter of 2010-11 was at $5.80 billion. During April-June 2009-10, FDI inflows were $7.01 billion.
The government has been taking measures to streamline the procedures for foreign investors.
"The government is making sustained efforts to make the FDI policy regime increasingly attractive and investor friendly, with a view to attract investments from all major investing countries," Minister of State for Commerce and Industry Jyotiraditya Scindia said in a written reply to the Rajya Sabha.
The FDI for 2009-10 at $25.88 billion was lower by five per cent from $27.33 billion in the previous fiscal.
The dollar rose to 85.65 yen from around 85.50 yen before the data. It remained about 0.2 percent lower on the day and was near a 15-year low beneath 85 yen.
The euro was steady around $1.3210, down about 0.1 percent on the day.
| Thursday August 5, 12:00 AM |  * |
INTERVIEW - SPX CEO says stepping up presence in India
By Scott MaloneBOSTON (Reuters) - SPX Corp plans to boost its presence in India because the potential for growth there is approaching China's, where the U.S. manufacturer notched a 50 percent rise in second-quarter revenue.
The diversified company, which makes products ranging from cooling towers for power plants to tools used by professional car mechanics, currently has a small presence in the world's second-most populous country, primarily through a joint venture with Indian engineering company Thermax Ltd .
"Our growth in China has been pretty steady and consistent. We're moving into India in a bigger way," SPX chief executive Chris Kearney said in an interview.
"We're really now just getting a toehold with respect to energy infrastructure."
The region is becoming an increasingly critical market for Charlotte, North Carolina-based SPX. In the second quarter, the company's sales to the Asia-Pacific market rose 37 percent, almost offsetting sales declines in the United States and Europe and contributing to a sharply better-than-expected second-quarter profit.
China's rapid build-out of its electric grid has stoked demand for SPX's cooling towers and transformers and the company now has 13 factories and some 3,000 employees working in China.
India is poised for similar investment, although Kearney regards it as a harder market to crack.
"When you have a central government, as you do in China, that is mandating plans for growth, it's a much more focused approach," Kearney said. "In India, you've got a more provincial structure, with local provinces controlling more of the planning and pace of that development. It makes it a little more complex to get through."
SPX is in the process of recruiting its first managing director for India. That person's first task will be building out the company's local sales force, after which SPX will look for acquisitions and joint ventures, such as its air pollution control systems business with Thermax.
The company currently has about 200 staffers in India.
SPX last year generated less than 3 percent of its $4.85 billion in revenue in India, Kearney said. Chinese revenue topped $288 million -- about 6 percent of the corporate total, making it SPX's third-largest market after the United States and Germany, according to a filing with the U.S. Securities and Exchange Commission.
"Over the medium to long term, you'll continue to see India revenue grow as a percentage of the company's total revenue," Kearney added.
(Reporting by Scott Malone; editing by Andre Grenon)
| Wednesday August 4, 12:30 PM | Source: Indian Express Finance |
Licence winners sleep over scarce air waves
By Anandita Singh MankotiaMost 2G allottees of '08 yet to start ops, breaching rollout obligations
Out of eight applicants who received telecom licences in January, 2008, only two have rolled out services, that too only in some of the circles for which they received the licence. This disproves the claim of telecom minister A Raja that he broke the cartel of incumbent telecom operators with the licences and helped bring down tariffs.
An FE status check found that as of January, 2010, only two operators-Unitech Wireless and S Tel -had launched operations. Telenor of Norway has a 67.25% stake in Unitech Wireless, which has launched services in 8 out of 22 circles. S Tel has launched services in three out of six circles.
This is when the new licensees are required to cover at least 10% of the district headquarters by the end of the first year of being given the licences. Under the licence conditions, Department of Telecommunications has the powers to imposed a fine of Rs 5 lakh a week for the first 13 weeks of delay, Rs 10 lakh for the next 13 weeks and thereafter at the rate of Rs 20 lakh for delays up to 26 weeks. If any operator fails to fulfill the obligation even after 52 weeks of delay, then DoT has the power to cancel the licence.
We have taken January, 2010 as the cut-off date, since this is when the two-year period is completed and the government data, submitted to the Parliament is available till then. Some companies began launches later. Loop Telecom, which holds licences for 21 circles claims to have launched services in five, Videocon (VIDEOIND.NS : 228.65 -1
Industry sources and DoT officials explained the discrepancy between government data and claims made by companies like Etisalat. "There's a technical launch wherein a company puts in place a skeletal network and shows on record that its services have been launched. This kind of launch is different from commercial launches where customers can actually go can buy the connections".
Even if one accepts these launch claims, there's little to boast about. For instance, GSM operators added a total of 12.29 million subscribers in June. Of this, the share of Uninor, Videocon and Etisalat put together was a paltry 1.6 million. If the April-June quarter is taken out of the total addition of around 37.5 million GSM users, the share of Uninor, Etisalat and Videocon put together was only 3.7 million.
However, tariffs have certainly dropped in the last two years, but as analysts point out, it is due to competition among the incumbents-whose "cartel" Raja had supposedly broken-rather than any new operator.
No wonder the Prime Minister's Office in a recent communication to DoT expressed its concern on the poor rollout of launches by the new operators. It has sought an explanation from DoT. Why are operators not launching services and paying fines? Explained a DoT official: "Raja helped new operators by changing the criteria of levying the fine. Earlier, it was computed from the date of the grant of licences; Raja made it from the date of allocation of spectrum. Since spectrum has been granted on different dates, the fines get staggered."
| Wednesday August 4, 04:00 PM |  * |
RBI policy mopping excess liquidity - Mukherjee
 * |
| Click to enlarge photo |
By Manoj Kumar and C.J. Kuncheria
NEW DELHI (Reuters) - The Reserve Bank of India's (RBI) "appropriate monetary policy" is absorbing excess liquidity and helping efforts to tame inflation, the finance minister told parliament on Wednesday.
Pranab Mukherjee, responding to an opposition-sponsored debate on inflation, also said rising prices were a cost of rapid expansion of Asia's third-largest economy.
"If I want to compromise with growth rate of 5 percent, or 5.5 percent, if I want to compromise with my export growth, if I want to do that, I can surely control the inflation," he said.
Wholesale price index, India's most closely watched inflation measure, have risen more than 10 percent from a year earlier for the past five months. The index rose 10.55 percent in June and is expected to record a double-digit rise in July.
Spiralling prices have led to street protests against the Congress party-led government, and the opposition parties have accused it of not doing enough to control prices.
The Reserve Bank of India (RBI), which tightened monetary policy more forcefully than expected last week at its quarterly policy review, has adopted an increasingly hawkish stance, saying the balance has moved towards containing inflation and inflationary expectations.
"Appropriate monetary policy is mopping up excess liquidity," Mukherjee said. "We have ensured the excess liquidity in the market has been mopped ... The Reserve Bank is keeping its eye constantly on that."
The RBI has said it will manage liquidity to ensure an excess does not prevent policy signals from being transmitted to the monetary system.
Since March, it has raised its main lending rate four times by a total of 100 basis points to 5.75 percent and the borrowing rate by 125 basis points to 4.50 percent.
The cash reserve ratio, the proportion of deposits that banks must keep with the RBI as cash, is 6 percent, up from 5 percent in mid-January.
Analysts expect aggressive tightening ahead, especially after a senior RBI official said current interest rates were not adequate enough to tame inflation that is in double digits.
Prime Minister Manmohan Singh expects headline inflation easing to 6 percent by December, but the RBI sees this level only by end-March.
Mukherjee said plans to wind-down stimulus measures instituted in the wake of the global economic crisis in 2008 would also help, but said this had to be gradual to keep the economy buoyant.
The Indian economy is seen expanding 8.5 percent in the fiscal year to end-March 2011 and at 9 percent in the year after.
The country needs to match the double-digit growth of peer China to pull out of poverty the hundreds of millions of citizens who live on under $1.25 a day.
(Editing by Malini Menon)
By Ben Arnoldy, Staff writer / August 4, 2010
Srinagar, India
Since witnessing the beating of two men in the street last month by paramilitaries, one young Kashmiri, at work on a science doctorate, has joined the ranks of a new rock-throwing youth uprising.
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"I felt proud that I did not remain silent like our elders," he says.
This summer, hundreds of "rock pelters" ages 6 to 30 have clashed with security forces across Indian-controlled Kashmir.
These young men are determined to be the generation that wins self-determination for Kashmiris.
Heavy-handed police tactics have turned youths into rock throwers and devoted adherents of a once-fading Kashmiri separatist movement.
What they're fighting for
After more than 60 years of separatist conflict in the disputed region of Kashmir, where India, Pakistan, China, and the Muslim-majority people of Kashmir wrestle for control, it's clear to these youths that guns aren't the way. Instead, they have turned to rocks and nonviolent protests in an effort to send a message to India that Kashmiris are serious about autonomy."We know what India did in the '90s. We had an armed struggle going on in Kashmir. That was quite unproductive for us," says the doctoral student. "Why is there stone throwing all around Kashmir? We have no other way. We cannot hold any demonstrations."
Police say they must stop rallies before they turn into rock-pelting mobs, while the rock pelters say they throw stones because they cannot rally and, when they do, innocents are killed by the police.
Kasmir Valley in lockdown
For the past two months, the Kashmir Valley has been in lockdown after this cycle of violence left some 46 dead. Among them: a 9-year-old boy and a 17-year-old girl. Over the weekend, the protests and police response grew more intense. Despite the announced dispatch of more paramilitary police to the Valley, and warnings to residents that they would be shot on sight if they defied curfews, tens of thousands of Kashmiris have taken to the streets.Parts of Srinagar feel like a prison, with shops shuttered, residents peering out of windows, and groups of security forces clustered on street corners. Residents who do venture out mostly go solo, so as not to attract attention. The two men beaten in the street after curfew, says the doctoral student, had special passes. But paramilitaries forced them back indoors.
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Don't ridicule my sensitivity: PranabSify - 4 hours agoFinance Minister Pranab Mukherjee Wednesday hit back at the opposition which accused the government of being insensitive to the problems faced by the people owing to high prices of essential commodities. Mukherjee shot back when some members of the Lok ... Pranab apologises to Lok Sabha for losing temperHindustan Times - 7 hours agoPTI Finance Minister Pranab Mukherjee today apologised to the Lok Sabha for losing his temper when a TDP member made some remarks while protesting the construction of Babhli barrage. "Madam Speaker, first of all I would like to express my regret and ... LS asks govt to tackle inflation, adopts resolutionBusiness Standard - 6 hours agoPTI / New Delhi August 04, 2010, 17:58 IST The Lok Sabha today adopted a compromise resolution asking government to contain inflation at the end of a fiery debate on price rise which Finance Minister Pranab Mukherjee said can be tackled only by a ... Lok Sabha adopts resolution asking Govt. to contain inflationNetIndian - 1 hour agoThe Lok Sabha today adopted a resolution asking the Government to take steps to contain inflation after a debate on rising prices during whic Finance Minister Pranab Mukherjee put up a spirited defence of the steps taken by the Government to address ... India says overly aggressive rate hikes could hurt recoveryAFP - 2 hours agoNEW DELHI — India's government said Wednesday overly aggressive interest rate hikes to check double-digit inflation could derail economic recovery as it promised Wednesday to do all it could to tame prices. The pledge came as the lower house of ... Lok Sabha urges Centre to control inflationLivemint - 7 hours agoPTI New Delhi: Taking note of concerns over rising prices, the Lok Sabha on Wednesday adopted a motion urging the government to take further effective actions to contain adverse impact of inflation on common man. The motion was adopted after a marathon ... Prices to come down in 2nd half: Pranabindiablooms - 1 hour agoNew Delhi, Aug 4 (IBNS): Union Finance Minister Pranab Mukherjee on Wednesday assured the Indian Parliament that even as the first half saw turbulent price rises, the second half of 2010 is likely to see some softening. Mukherjee's statements came in ... All 108 related articles » | RelatedPranab MukherjeeLok Sabha Bharatiya Janata Party Timeline of articles Number of sources covering this story
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Genetically modified food controversies
The genetically modified foods controversy is a dispute over the relative advantages and disadvantages of genetically modified (GM) food crops and other uses of genetically-modified organisms in food production. The dispute involves biotechnology companies, governmental regulators, non-governmental organizations and scientists. The dispute is most intense in Japan and Europe, where public concern about GM food is higher than in other parts of the world such as the United States. In the United States GM crops are more widely grown and the introduction of these products has been less controversial.
The five key areas of controversy related to genetically engineered food are food safety, the effect on natural ecosystems, gene flow into non GE crops, moral/religious concerns, and corporate control of the food supply.
Safety is a major issue in this controversy. The contentious concept of substantial equivalence has been established to address that. "Substantial equivalence embodies the concept that if a new food or food component is found to be substantially equivalent to an existing food or food component, it can be treated in the same manner with respect to safety (i.e., the food or food component can be concluded to be as safe as the conventional food or food component)" (Joint FAO/WHO Biotechnology and Food Safety Report, 1996, p. 4) Adverse health effects need to be screened for, because health effects are dependent upon the modifications made.[1]:8 The need for screening and testing increases as more changes are made, and "second-generation" GMs will require more testing.[2] To date no adverse health effects caused by products approved for sale have been documented, although two products failed initial safety testing and were discontinued, due to allergic reactions. Most feeding trials have observed no toxic effects and saw that GM foods were equivalent in nutrition to unmodified foods, although a few reports attribute physiological changes to GM food. However, some scientists[3] and advocacy groups such as Greenpeace and World Wildlife Fund consider that the available data do not prove that GM food does not pose risks to health, and call for additional and more rigorous testing before marketing genetically engineered food.[4]
Another area of controversy is what effect pest and herbicide-resistant crops have on ecosystems, by for example reducing the numbers of pest insects in farmland and impacting biodiversity, or by decreasing the use of insecticides. Attempts have been made to measure these effects by farm-scale trials of GM crops, although the interpretation of the results of these trials has been controversial. The risk and effects of horizontal gene transfer have also been cited as concerns, with the possibility that genes might spread from modified crops to wild relatives.
Contents[hide] |
[edit] Health risks and benefits
[edit] Present knowledge on GM food safety
Worldwide, there are a range of perspectives within non-governmental organizations on the safety of GM foods. For example, the US pro-GM group AgBioWorld has argued that GM foods have been proven safe,[5] while other pressure groups and consumer rights groups, such as the Organic Consumers Association,[6] and Greenpeace[7] claim the long term health risks which GM could pose, or the environmental risks associated with GM, have not yet been adequately investigated. In Japan, Consumers Union of Japan are opposed to GMO foods. They also claim that truly independent research in these areas is systematically blocked by the GM corporations which own the GM seeds and reference materials.
A 2008 review published by the Royal Society of Medicine noted that GM foods have been eaten by millions of people worldwide for over 15 years, with no reports of ill effects.[8] Similarly a 2004 report from the US National Academies of Sciences stated: "To date, no adverse health effects attributed to genetic engineering have been documented in the human population."[1] A 2004 review of feeding trials in the Italian Journal of Animal Science found no differences among animals eating genetically modified plants.[9] A 2005 review in Archives of Animal Nutrition concluded that first-generation genetically modified foods had been found to be similar in nutrition and safety to non-GM foods, but noted that second-generation foods with "significant changes in constituents" would be more difficult to test, and would require further animal studies.[2] However, a 2009 review in Nutrition Reviews found that although most studies concluded that GM foods do not differ in nutrition or cause any detectable toxic effects in animals, some studies did report adverse changes at a cellular level caused by some GM foods, concluding that "More scientific effort and investigation is needed to ensure that consumption of GM foods is not likely to provoke any form of health problem".[10]
[edit] Safety assessments
The starting point for the safety assessment of genetically engineered food products is to assess if the food is "substantially equivalent" to its natural counterpart.[11] To decide if a modified product is substantially equivalent, the product is tested by the manufacturer for unexpected changes in a limited set of components such as toxins, nutrients or allergens that are present in the unmodified food. If these tests show no significant difference between the modified and unmodified products, then no further food safety testing is required. The manufacturers data is then assessed by an independent regulatory body, such as the Food and Drug Administration.
However, if the product has no natural equivalent, or shows significant differences from the unmodified food, then further safety testing is carried out.[11] A 2003 review in Trends in Biotechnology identified 7 main parts of a standard safety test:[12]
- Study of the introduced DNA and the new proteins or metabolites that it produces;
- Analysis of the chemical composition of the relevant plant parts, measuring nutrients, anti-nutrients as well as any natural toxins or known allergens;
- Assess the risk of gene transfer from the food to microorganisms in the human gut;
- Study the possibility that any new components in the food might be allergens;
- Estimate how much of a normal diet the food will make up;
- Estimate any toxicological or nutritional problems revealed by this data;
- Additional animal toxicity tests if there is the possibility that the food might pose a risk.
This process was examined further in a review published by Kuiper et al. 2002 in the journal Toxicology, which stated that substantial equivalence does not itself measure risks, but instead identifies differences between existing products and new foods, which might pose dangers to health. If differences do exist, identifying these differences is a starting point for a full safety assessment, rather than an end point.[13] The authors concluded that "The concept of substantial equivalence is an adequate tool in order to identify safety issues related to genetically modified products that have a traditional counterpart". However, the review also noted difficulties in applying this standard in practice, including the fact that traditional foods contain many chemicals that have toxic or carcinogenic effects and that our existing diets therefore have not been proven to be safe. This lack of knowledge on unmodified food poses a problem, as GM foods may have differences in anti-nutrients and natural toxins that have never been identified in the original plant, raising the possibility that harmful changes could be missed.[13]
The application of substantial equivalence has also been more strongly criticized. For example, in a speech in 1999, Andrew Chesson of the University of Aberdeen, stated that substantial equivalence testing "could be flawed in some cases" and that some current safety tests could allow harmful substances to enter the human food chain.[14] In a commentary in Nature Millstone et al. argued that all GM foods should have extensive biological, toxicological and immunological tests and that the concept of substantial equivalence based solely on chemical analyzes of the components of a food should be abandoned.[15] They stated that this is necessary since it is currently impossible to predict the biological properties of a substance only from knowledge of its chemistry. This commentary was controversial and was criticized for misleading presentation of data[16] and presenting an over-simplified version of safety assessments.[17] For example, Kuiper et al. responded to this criticism by noting that equivalency testing does involve more than chemical tests and may include toxicity testing.[13]
The value of current independent studies is problematic as, due to restrictive End-user agreements, researchers are forbidden by law from publishing independent research in peer reviewed journals without the approval of the agritech companies. Cornell University's Elson Shields, the spokeperson for a group of scientists who oppose this practice, submitted a statement to the EPA protesting that "as a result of restrictive access, no truly independent research can be legally conducted on many critical questions regarding the technology". Scientific American noted that several studies that were initially approved by seed companies were later blocked from publication when they returned "unflattering" results. While recognising that seed companies intellectual property rights need to be protected, Scientific American calls the practice dangerous and has called for the restrictions on research in the End-user agreements to be lifted immediately and for the EPA to require, as a condition of approval, that independent researchers have unfettered access to GM products for testing.[18]
The Welsh pressure group GM Free Cymru argues that governments should use independent studies rather than industry studies to assess crop safety.[19] GM Free Cymru has also stated that independently funded researcher, Professor Bela Darvas of Debrecen University was refused Mon 863 Bt corn to use in his studies[19] after previously publishing that a different variety of Monsanto corn was lethal to two Hungarian protected insect species and an insect classified as a rare.[20][21]
[edit] Allergenicity
Worldwide, reports of allergies to all kinds of foods, particularly nuts, fish and shellfish, seem to be increasing, but it is not known if this reflects a genuine change in the risk of allergy, or an increased awareness of food allergies by the public.[22] Some environmental organizations, such as the European Green Party and Greenpeace, have suggested that GM food might trigger food allergies, although other environmentalists have implicated causes as diverse as the greenhouse effect increasing pollen levels, greater exposure to synthetic chemicals, cleaner lifestyles, or more mold in buildings.[23] A 2005 review in the journal Allergy of the results from allergen testing of current GM foods stated that "no biotech proteins in foods have been documented to cause allergic reactions".[24]
A well-known case of a GM plant that did not reach the market due to it producing an allergic reaction was a new form of soybean intended for animal feed. The allergen was transferred unintentionally from the Brazil nut into genetically engineered soybeans, in a bid to improve soybean nutritional quality for animal feed use. This new protein increased the levels in the GM soybean of the natural essential amino acid methionine, which is commonly added to poultry feed. Investigation of the GM soybeans revealed that they produced immune reactions in people with Brazil nut allergies, since the methionine rich protein chosen by Pioneer Hi-Bred happened to be a major source of Brazil nut allergy.[25] Although this soybean strain was not developed as a human food, Pioneer Hi-Bred discontinued further development of the GM soybean, due to the difficulty in ensuring that none of these soybeans entered the human food chain.[26]
In November 2005 a pest-resistant field pea developed by the Australian CSIRO for use as a pasture crop was shown to cause an allergic reaction in mice.[27] Work on this variety was immediately halted. The protein added to the pea did not cause the reaction in humans or mice in isolation, but when it was expressed in the pea, it exhibited a subtly different structure which may have caused the allergic reaction. The immunologist who tested the pea noted that crops need to be evaluated case-by-case, and a Greenpeace activist commented that to his knowledge, no countries required feeding studies for approval of genetically modified foods.[27]
Plant scientist Maarten J Chrispeels has made these comments about this example:
The recent Prescott et al. paper in JFAC contains a very interesting study on the immunogenicity of amylase [starch digestion enzyme] inhibitor in its native form (isolated from beans) and expressed as a transgene in peas. First of all, amylase inhibitor is a food protein, but also a "toxic" protein because it inhibits our digestive amylases. This is one of the reasons you have to cook your beans! (The other toxic bean protein is phytohemagglutinin and it is much more toxic).This particular amylase inhibitor is found in the common bean (other species have other amylase inhibitors). Even though it is a food protein, it is unlikely ever to be used for genetic engineering of human foods because it inhibits our amylases. What the results show is that the protein, when synthesized in pea cotyledons has a different immunogenicity than when it is isolated from bean cotyledons (the native form). This is somewhat surprising but may be related to the presence of slightly different carbohydrate chains.[28]
These cases of products that failed safety testing can either be viewed as evidence that genetic modification can produce unexpected and dangerous changes in foods, or alternatively that the current tests are effective at identifying any safety problems before foods come on the market.[8]
Genetic modification can also be used to remove allergens from foods, which may, for example, allow the production of soy products that would pose a smaller risk of food allergies than standard soybeans.[29] A hypo-allergenic strain of soybean was tested in 2003 and shown to lack the major allergen that is found in the beans.[30] A similar approach has been tried in ryegrass, which produces pollen that is a major cause of hayfever: here a fertile GM grass was produced that lacked the main pollen allergen, demonstrating that the production of hypoallergenic grass is also possible.[31]
[edit] Environmental risks and benefits
The large scale growth of GM plants may have both positive and negative effects on the environment.[32][33] These may be both direct effects, on organisms that feed on or interact with the crops, or wider effects on food chains produced by increases or decreases in the numbers of other organisms. As an example of benefits, insect-resistant Bt-expressing crops will reduce the number of pest insects feeding on these plants, but as there are fewer pests, farmers do not have to apply as much insecticide, which in turn tends to increase the number of non-pest insects in these fields.[34][35] However, a 2009 study published by the Organic Center stated that the use of genetically engineered corn, soybean, and cotton increased the use of herbicides by 383 million pounds, and pesticide use by 318.4 million pounds. [36] As an example of environmental risk, the case of the monarch butterfly has been subject to much concern in the USA, given toxic effects of Bt-corn pollen.[37] Other possible effects might come from the spread of genes from modified plants to unmodified relatives, which might produce species of weeds resistant to herbicides.[32] In some areas of the US "superweeds" have evolved naturally, these weeds are resistant to herbicides and have forced farmers to return to traditional crop management practices.[38]
There has been controversy over the results of a farm-scale trial in the United Kingdom comparing the impact of GM crops and conventional crops on farmland biodiversity. Some claimed that the results showed that GM crops had a significant negative impact on wildlife. They pointed out that the studies showed that using herbicide resistant GM crops allowed better weed control and that under such conditions there were fewer weeds and fewer weed seeds. This result was then extrapolated to suggest that GM crops would have significant impact on the wildlife that might rely on farm weeds.[39] The President of the Royal Society, the body that had carried out the trials, stated that "To generalise and declare 'all GM is bad' or 'all GM is good' for the environment as a result of these experiments is a gross over-simplification", arguing that although the trials showed that the combination of some GM crops with long-lasting herbicides were bad for biodiversity, using other GM crops without these herbicides increased biodiversity.[40]
In July 2005 British scientists showed that transfer of a herbicide-resistance gene from GM oilseed rape to a wild cousin, charlock, and wild turnips was possible.[41]
Many agricultural scientists and food policy specialists view GM crops as an important element in sustainable food security and environmental management.[42] This point of view is summarized in the ABIC Manifesto:
On our planet, 18% of the land mass is used for agricultural production. This fraction cannot be increased substantially. It is absolutely essential that the yield per unit of land increases beyond current levels given that: The human population is still growing, and will reach about nine billion by 2040;70,000 km² of agricultural land (equivalent to 60% of the German agricultural area) are lost annually to growth of cities and other non-agricultural uses; Consumer diets in developing countries are increasingly changing from plant-based proteins to animal protein, a trend that requires a greater amount of crop-based feeds.[43]
Other scientists, such as Dr. Charles Benbrook, argue that improvement of global food security is hardly being addressed by genetic research and that a lack of yield is often not caused by insufficient genetic resources.[44] Regarding the issues of intellectual property and patent law, an international report from the year 2000 states:
If the rights to these tools are strongly and universally enforced - and not extensively licensed or provided pro bono in the developing world - then the potential applications of GM technologies described previously are unlikely to benefit the less developed nations of the world for a long time (ie until after the restrictions conveyed by these rights have expired).[45]
[edit] Issues with Bt maize
A well publicized claim associated with Bt crops (or transgenic maize) was the concern that pollen from Bt maize might kill the monarch butterfly.[46] This report was puzzling because the pollen from most maize hybrids contains much lower levels of Bt than the rest of the plant[47] and led to multiple follow-up studies. One possible issue revealed in these studies is the possibility that the initial study was flawed; based on the way the pollen was collected, in that they collected and fed non-toxic pollen that was mixed with anther walls that did contain Bt toxin.[48] A collaborative research exercise was carried out over two years by several groups of scientists in the US and Canada, looking at the effects of Bt pollen in both the field and the laboratory. This resulted in a risk assessment that concluded that any risk posed by the corn to butterfly populations under real-world conditions was negligible.[49] The USDA has stated that the weight of the evidence is that Bt crops do not pose a risk to the monarch butterfly.[50] An independent 2002 review of the scientific literature concluded that "the commercial large-scale cultivation of current Bt–maize hybrids did not pose a significant risk to the monarch population" and noted that despite large-scale planting of GM crops, the butterfly's population is increasing.[51]
In 2007 Andreas Lang, Éva Lauber and Béla Darvas criticized these studies, arguing that there can be a great difference in the effects between the acute exposure tested for and chronic exposure. Moreover, they stated that the "worst case conditions" performed were not in fact worst case scenarios, as laboratory conditions with ample food supply and a favorable climate ensure healthy subjects. They instead believe that in the wild, low temperatures, rain and parasites and disease might exacerbate a Bt effect on butterfly larvae. Their own experiments suggested that some butterfly species were negatively affected by such chronic exposure. Jörg Romeis, who conducted the original studies, replied that if species of Butterfly are affected as Darvas claims that a "more comprehensive assessment will be needed and, depending on the degree and nature of concern, this may extend to field testing".[21]
A 2001 report in Nature presented evidence that Bt maize was cross-breeding with unmodified maize in Mexico,[52] although the data in this paper was later described as originating from an artifact and Nature stated that "the evidence available is not sufficient to justify the publication of the original paper".[53] A subsequent large-scale study, in 2005, failed to find any evidence of contamination in Oaxaca.[54] However, other authors have stated that they also found evidence of cross-breeding between natural maize and transgenic maize.[55]
There is also a risk that for example, transgenic maize will crossbreed with wild grass variants, and that the Bt-gene will end up in a natural environment, retaining its toxicity. An event like this would have ecological implications. However, there is no evidence of crossbreeding between maize and wild grasses.
In 2009 it was reported that 82,000 hectares (200,000 acres) of Bt corn in South Africa failed to produce seeds. Monsanto offered compensation and claims that the corn varieties affected were "insufficiently fertilised in the laboratory". Marian Mayet an environmental activitist and director of the Africa-centre for biosecurity in Johannesburg called for a government investigation and asserts that the biotechnology is at fault, "You cannot make a 'mistake' with three different varieties of corn".[56]
As of 2007, a phenomenon called Colony Collapse Disorder (CCD) was noticed in bee hives all over North America, and elsewhere. Although it is not certain if this is a new phenomenon, initial ideas on the possible causes ranged from poor nutrition, infections, parasites and pesticide use.[57] More unusual speculations included radio waves from cellphone base stations, climate change, and the use of transgenic crops containing Bt.[58][59] The Mid-Atlantic Apiculture Research and Extension Consortium published a report on 2007-03-27 that found no evidence that pollen from Bt crops is adversely affecting bees. Several researchers in the US have since attributed CCD to the spread of a new virus called Israeli acute paralysis virus,[58] although other parasites have also been implicated.[60]
[edit] Legal issues in the US
[edit] Alfalfa
On 21 June, 2010, the US Supreme Court in Monsanto v. Geertson Seed Farms issued its first ruling about GM crops. This case relates to Roundup Ready alfalfa[61] and dates back to 2006, when a coalition of groups led by the Center for Food Safety raised concerns about environmental impacts that the United States Department of Agriculture (USDA) allegedly failed to address before approving the planting of Roundup Ready alfalfa. In response, in 2007, Judge Charles Breyer of the California Northern District Court ruled that USDA was in error when it approved the planting of Roundup Ready alfalfa.
In June of 2009, a divided three-judge panel on the 9th U.S. Circuit Court of Appeals upheld Judge Charles Breyer's decision, and Monsanto appealed to the Supreme Court.[62]
The impact of the current US Supreme Court ruling is somewhat unclear, with both sides appearing to claim victory.[63][64]
[edit] Sugar beets
There is also a somewhat similar case involving sugar beets before the same California Northern District Court. This is a case involving Monsanto's breed of pesticide-resistant sugar beets.[65] While Judge Jeffrey White allowed the planting of GM sugar beets to continue in 2010, he also warned that this may be blocked in the future while an environmental review is taking place.
[edit] Control of the market
 | This section requires expansion. |
Patent holder companies use their control of their own GMO to corner the market and gain profit. However, other companies often compete for the little market share available to GM foods worldwide.[66] Detractors such as Greenpeace say that patent rights give corporations a dangerous amount of control over their product[67] while corporations claim that they need product control in order to prevent seed piracy, fulfill financial obligations to shareholders and invest in further GM development.[68]
[edit] Controversial cases
[edit] Pusztai potato controversy
A large media event occurred in 1998 when scientist Árpád Pusztai, who "was considered a world expert on plant lectins",[69] reported in a television interview that he had found that rats fed potatoes genetically modified by the English biotech company Cambridge Agricultural Genetics to contain lectin, a natural insecticide in snowdrop plants, had stunted growth and immune system damage.[70] Initially the Rowett Institute's director, Philip James, congratulated Pusztai after the interview, but his attitude changed after confusion arose over whether the lectin was from a jackbean or a snowdrop (the jackbean lectin is poisonous to the intestines).[69] A press release from the Rowett Institute stated that the lectin had come from a jackbean, but no experiments were made using lectins from the jackbean; in the confusion, it was alleged that Pusztai hadn't actually carried out the experiments.[69][71] James suspended Pusztai and used misconduct procedures to seize the data. His annual contract was not renewed and both Pusztai and his wife were banned from speaking publicly.[69] In October 1998 the Rowett Institute published an audit criticizing Pusztai's results, which, along with Pusztai's raw data, was sent to six anonymous reviewers who criticized Pusztai's work. Puzstai responded that the raw data was "never intended for publication under intense scrutiny".[69] Pusztai sent the audit report and his rebuttal to scientists who requested it, and in February 1999, twenty-one European and American scientists released a memo supporting Pusztai.[71] Stanley Ewen, who worked with Pusztai, conducted a followup study supporting Pusztai's work and presented the work to a lectin meeting in Sweden.[71]
In October 1999 Pusztai's research was published in the journal The Lancet.[72] Because of the controversial nature of his research the data in this paper, co-authored by Stanley Ewen, was seen by a total of six reviewers when presented for peer review; five of these reviewers judged the work acceptable, although one of the five "deemed the study flawed but favored publication to avoid suspicions of a conspiracy against Pusztai and to give colleagues a chance to see the data for themselves".[70] The paper did not mention stunted growth or immunity issues, but reported that rats fed on potatoes genetically modified with the snowdrop lectin had "thickening in the mucosal lining of their colon and their jejunum" when compared with rats fed on non modified potatoes.[70] Three Dutch scientists criticized the study on the grounds that the unmodified potatoes were not a fair control diet, and that any rats fed only on potatoes will suffer from a protein deficiency; Pusztai responded to these criticisms by stating that the protein and energy were comparable, and that "a sample size of six is perfectly normal in studies like this".[70]
The genetically modified potatoes were later destroyed by Cambridge Agricultural Genetics as were all details of their modification.[73]
[edit] Bioequivalence study of a corn cultivar
A controversy arose around biotech company Monsanto's data on a 90-Day Rat Feeding Study on the MON863 strain of GM corn.[74] In May 2005, critics of GM foods pointed to differences in kidney size and blood composition found in this study, suggesting that the observed differences raises questions about the regulatory concept of substantial equivalence. Anti-GM campaigner Jeffrey M. Smith, writing in Biophile Magazine, has stated that nutritional studies typically use young, fast-growing animals with starting weights not varying by more than 2% from the average whereas Monsanto's research design used a mix of young and old animals with starting weights ranging from 198.4 to 259.8 grams.[75][76]
The raising of this issue prompted the European Food Safety Authority (EFSA) to reexamine the safety data on this strain of corn. The EFSA concluded that the observed small numerical decrease in rat kidney weights were not biologically meaningful, and the weights were well within the normal range of kidney weights for control animals. There were no corresponding microscopic findings in the relevant organ systems, and they stated that all blood chemistry and organ weight values fell within the "normal range of historical control values" for rats.[77] In addition the EFSA review stated that the statistical methods used by Séralini et al. in the analysis of the data were incorrect.[78][79] The European Commission has approved the ΜΟΝ863 corn for animal and human consumption.[80]
Greenpeace have stated in a press release that Séralini et al. have now completed a similar analysis of the NK603 strain of corn and have come to similar conclusions as they did in their previous study.[81]
[edit] Contamination Issues
In the 1990s genetically modified Flax tolerant to herbicide residues in soil was developed by the Crop Development Centre (CDC) at the University of Saskatchewan in Canada. Named Flax variety FP967, but commonly called CDC Triffid, research was controversially halted following protests from Canadian farmers who stood to lose up to 70% of their traditional export markets if it was introduced. GM Flax was deregistered, its sale was criminalized and in 2001 all modified seeds were destroyed. No modified crops had been planted and no seed had been sold but GM industry proponent Alan McHughen controversially passed out sample packets of seeds at presentations. In early September 2009, Flax imported into Germany was found to be contaminated with CDC Triffid causing the price of Canadian Flax to fall 32 percent. By mid November 35 countries reported contamination of imported Canadian Flax which has now been banned by the European Union. Canadian farmers are expected to be responsible for the cost of the cleanup and testing of future crops.[82][83]
[edit] Public perception
Research by the Pew Initiative on Food and Biotechnology has shown that in 2005 Americans' knowledge of genetically modified foods and animals continues to remain low, and their opinions reflect that they are particularly uncomfortable with animal cloning. In one instance of consumer confusion, DNA Plant Technology's Fish tomato transgenic organism was conflated with Calgene's Flavr Savr transgenic food product.[84] The Pew survey also showed that despite continuing concerns about GM foods, American consumers do not support banning new uses of the technology, but rather seek an active role from regulators to ensure that new products are safe.[85]
Only 2% of Britons are said to be "happy to eat GM foods", and more than half of Britons are against GM foods being available to the public, according to a 2003 study.[86]
In Australia, multiple surveys have shown that while 45% of the public will accept GM foods, some 93% demand genetically modified foods be labelled as such. Labelling legislation has been introduced and rejected several times since 1996 on the grounds of "restraint of trade" due to the cost of labelling.[87] The controversy erupted again in 2009 when Graincorp, the nations largest grain handler, announced it would mix GM Canola with its unmodified grain. Traditional growers, who largely rely on GM-free markets, have been told they will now need to pay to have their produce certified GM free. Critics such as Greenpeace and the Gene Ethics Network have renewed calls for labelling.[88]
Opponents of genetically modified food often refer to it as "Frankenfood", after Mary Shelley's character Frankenstein and the monster he creates, in her novel of the same name. The term was coined in 1992 by Paul Lewis, an English professor at Boston College who used the word in a letter he wrote to the New York Times in response to the decision of the US Food and Drug Administration to allow companies to market genetically modified food. The term "Frankenfood" has become a battle cry of the European side in the US-EU agricultural trade war.[89]
Critics have protested in regards to the appointment of pro GM lobbyists to senior positions in the FDA. Michael Taylor has been appointed as a senior adviser to the FDA on food safety and Dennis Wolff is expected to take up the position of Under-Secretary of the newly created Agriculture for Food Safety. Taylor is a former Monsanto lobbyist credited as being responsible for the implementation of "substantial equivalence" in place of food safety studies and for his advocacy that resulted in the Delaney clause that prohibited the inclusion of "any chemical additive found to induce cancer in man.. or animals" in processed foods being amended in 1996 to allow the inclusion of pesticides in GMOs. Wolff is the Pennsylvania Secretary of Agriculture who successfully lobbied to ban organic farmers from labeling their products as being GM free and was a proponent of the "ACRE" initiative which gave the Pennsylvania state attorney general's office the authority to sue municipalities that banned GMOs. Several anti-GMO organisations have organised petitions demanding Taylor's resignation and opposing Wolff's appointment and also conducted letter writing campaigns protesting the conflict of interest.[90]
[edit] Religious issues
As of yet, no GM foods have been designated as unacceptable by religious authorities.[91]
[edit] See also
- International trade of genetically modified foods
- Environmental issues with agriculture
- Ice-minus bacteria
- Corngate
- Arpad Pusztai
- Nayakrishi
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- ^ Ewen SW, Pusztai A (October 1999). "Effect of diets containing genetically modified potatoes expressing Galanthus nivalis lectin on rat small intestine". Lancet 354 (9187): 1353–4. doi:10.1016/S0140-6736(98)05860-7. PMID 10533866.
- ^ Rowell, Andrew (2003). Don't worry, it's safe to eat: the true story of GM food, BSE, & Foot and Mouth. Earthscan. ISBN 1853839329.
- ^ Monsanto, 2002. 13-Week Dietary Subchronic Comparison Study with MON 863 Corn in Rats Preceded by a 1-Week Baseline Food Consumption Determination with PMI Certified Rodent Diet #5002 [1]
- ^ Jeffrey Smith Study reveals GM threats
- ^ Séralini, G.E., Cellier, D., de Vendomois, J.,S., 2007. New analysis of a rat feeding study with a genetically modified maize reveals signs of hepatorenal toxicity. Arch. Environ. Contam. Toxicol., 52, 596-602.
- ^ Rat study, European Food Safety Authority.
- ^ EFSA review of statistical analyses conducted for the assessment of the MON 863 90-day rat feeding study
- ^ EFSA ::. EFSA review of statistical analyses conducted for the assessment of the MON 863 90-day rat feeding study
- ^ Opinion of the Scientific Panel on Genetically Modified Organisms on a request from the Commission related to the Notification (Reference C/DE/02/9) for the placing on the market of insect-protected genetically modified maize MON 863 and MON 863 x MON 810, for import and processing, under Part C of Directive 2001/18/EC from Monsanto, The EFSA Journal (2004) 49, 1-25 [2]
- ^ Greenpeace - Europe Press Release
- ^ Contaminated Canadian flax barred from Europe Grain.org January 2010
- ^ Flax industry, CGC race to trace GMO source Manitoba Cooperator October 1, 2009
- ^ [3][Pandora's Picnic Basket]
- ^ Public Sentiments About Genetically Modified Food, The Pew Initiative.
- ^ "Most Britons 'oppose GM crops'". BBC News. 2003-09-24. http://news.bbc.co.uk/2/hi/science/nature/3134278.stm. Retrieved 2010-01-04.
- ^ Hansard Legislative Council July 12, 2000
- ^ The Advertiser GM grain in everyday foods. May 3, 2009 Pg 17.
- ^ Julia A. Moore and Gilbert Winham (2002-12-20). "Let's not escalate the 'Frankenfood' war". Christian Science Monitor. http://www.csmonitor.com/2002/1220/p13s02-coop.html. "The European public calls GM products "Frankenstein food." They're afraid it could pose a health threat, or create an environmental disaster where genes jump from GM crops to wild plants and reduce biodiversity or create superweeds."
- ^ Don't Let Obama Put GMO Boosters in Charge of Food Safety! Organic Consumers Association July 22, 2009
- ^ Food Biotechnology in the United States: Science, Regulation, and Issues Congressional Research Service: The Library of Congress 2001
[edit] Additional resources
- Engdahl, F. Wm. (2007). Seeds of Destruction: The Hidden Agenda of Genetic Manipulation. Montreal: Global Research. pp. 360. ISBN 0-973714-72-7.
- Garcia, Deborah Koons (Director). 2004. The Future of Food film
- Robin, Marie-Monique, The World According to Monsanto film documentary (2008) Review
- Velimirov A, Binter C and Zentek J. (2008) Biological effects of transgenic maize NK603xMON810 fed in long term reproduction studies in mice. Report, Forschungsberichte der Sektion IV, Band 3. Institut für Ernährung, and Forschungsinttitut für biologischen Landbau, Vienna, Austria, November 2008.
[edit] External links
- Opponents
- Advocates
- Governmental
- German Federal Ministry of Education and Research
- US Biotechnology Regulators
- UK Food Standards Agency
- European Food Safety Authority
- Government of Canada BioPortal
- Medical and scientific
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