| Sensex joins global rout, hits year's low on recession fears Posted: 05 Aug 2011 01:24 AM PDT 
MUMBAI: The BSE Sensex touched its lowest level since June 2010 on Friday, joining a slide in Asian stocks, as fresh worries that the global economy is slipping back towards recession prompted investors to cut positions in risky assets. Shares in frontline financial and technology firms lost 3 to 4 per cent each on selling by foreign investors, while top-listed firm Reliance Industries slid to its lowest level since April 2009. By 11.50 am, the 30-share BSE index was down 3.2 per cent to 17,120.39 points, but had fallen to a near 14-month low of 17,208.83 at one stage. Only one of its components still traded in positive territory. "Basically, it's the global headwinds which are rubbing off, and right now there is risk aversion," said Ambareesh Baliga, chief operating officer at Way2Wealth Securities. "Export or interest rate- dependent sectors are seeing more weakness than others," he added. Asian markets tumbled on Friday after the overnight selloff on Wall Street, on fears the United States is staring at another recession and that Europe's sovereign debt crisis is swallowing two of its largest economies. By 0453 GMT, the MSCI's measure of Asian markets other than Japan was down 4.6 per cent, while Japan's Nikkei lost 3.7 per cent. Software stocks were among the worst hit, on worries the worsening situation in the United States and Europe – key markets for Indian software firms, could hurt growth prospects. Tata Consultancy Services fell 3.2 per cent, while smaller rivals Infosys and Wipro lost 3.3 per cent and 1.9 per cent, respectively. Financial stocks, already suffering after last week's larger-than-expected 50 basis point increase in key rates, slipped further as investors used the overall market situation as an opportunity to cut positions in the sector. Largest lender State Bank of India was down 1.9 per cent, while private sector rivals ICICI Bank lost 2.7 per cent and HDFC Bank fell 1.3 per cent. Energy major Reliance Industries touched a low of 786 rupees, its lowest level since April 2009. The stock has already lost a quarter of its value so far in 2011, mainly weighed down by worries of slowing production from its showcase gas fields off India's east coast. "The question we need to ask is whether as an economy India will be as affected as others, if there is a global downturn," Baliga said. "Based on that, I do expect that India would be one of the focus markets, once liquidity starts flowing again, after a couple of weeks," he said. Shares in Ranbaxy Laboratories, India's top drugmaker by sales, were down 1.4 per cent to 525.50 rupees ahead of its quarterly earnings. The firm, controlled by Japan's Daiichi Sankyo is expected to report a 40 per cent decline in quarterly profit. Shares in state-run Oil and Natural Gas Corp bucked the trend, up 1.4 per cent to 276.90 rupees, after US crude fell below $86 a barrel, heading for its biggest weekly drop since early May. The drop in benchmark crude prices would help ease the firm's subsidy burden, which it shares in the form of discounts to refiners, analysts said. The 50-share NSE index fell 2.4 per cent to 5,203.25 points. In the broader market, the negative trend was stark, with 1,329 declines compared to 84 advances, on heavy volume of about 232.65 million shares. TOP THREE BY VOLUME ON NSE * Lanco Infratech on 12.9 million shares * Jaiprakash Associates (JAIA.NS) on 8.3 million shares * Unitech on 8.1 million shares STOCKS ON THE MOVE * Shares of state-run oil marketing firms including Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp rose between 2 to 3 per cent each after crude oil prices headed for its biggest weekly drop since May. India imports 80 per cent of its crude oil requirements. * Mukand Ltd fell 2.8 per cent to 38.65 rupees, after the steel maker said on Thursday the mining ban has affected alloy steel production at its Hospet facility |
| US polygamist leader convicted of child sex abuse Posted: 04 Aug 2011 08:09 PM PDT 
SAN ANGELO, Texas: A Texas jury convicted polygamist sect leader Warren Jeffs of child sexual assault Thursday in a case stemming from two young followers he took as brides in what his church calls "spiritual marriages." The 55-year-old head of the Fundamentalist Church of Jesus Christ of Latter Day Saints stood stone-faced as the verdict was read. Jeffs, who acted as his own attorney, faces up to life in prison. The jury went immediately into sentencing proceedings. They had deliberated on a verdict for more than three hours. Police had raided the group's remote West Texas ranch in April 2008, finding women dressed in frontier-style dresses and hairdos from the 19th century as well as seeing underage girls who were clearly pregnant. The call to an abuse hotline that spurred the raid turned out to be a hoax, and more than 400 children who had been placed in protective custody were eventually returned to their families. But authorities brought charges against several men from the group, with Jeffs by far the highest-profile defendant. Prosecutors used DNA evidence to show Jeffs fathered a child with a 15-year-old girl and played an audio recording of what they said was him sexually assaulting a 12-year-old girl. They also played audio recordings in which Jeffs was heard instructing young women on how to please him sexually. Jeffs has claimed he was the victim of religious persecution. The FLDS, which has at least 10,000 members nationwide, is a radical offshoot of mainstream Mormonism. The church believes polygamy brings exaltation in heaven and that Jeffs is God's spokesman on earth. Jeffs stood mute and expressionless, staring at the floor, for all but a few seconds of the half hour he was allotted for a closing argument on Thursday. At one point he mumbled, "I am peace," and said no more. The only noise in the courtroom was the creaking of wooden benches brimming with spectators. Prosecutors said the case had nothing to do with his church or his beliefs. "You have heard the defendant make repeated arguments about religious freedoms," said lead prosecutor Eric Nichols. "Make no mistake, this case is not about any people, this case is not about any religion. It is about one individual, Warren Steed Jeffs, and his actions." Prosecutors relied heavily on information found during the raid on the compound and after a traffic stop in Nevada in 2006, when Jeffs was arrested. Much of the material was discovered in a vault at the end of a secret passageway in the temple and another vault in an annex building. "You might have asked yourselves," Nichols said, "a lot of people may ask, why would someone record sex? ... This individual considers himself to be the prophet. Everything he did, hour after hour, he was required to keep a record of that." On one of the tapes played at the trial, Jeffs made a reference to "drawing close" or "being close," which authorities testified is how church members refer to sex. Two female voices said "OK." "A good wife is trained for her husband and follows the spirit of peace," Jeffs was heard saying. Another audio tape included Jeffs and the younger girl from a recording made in August 2006 at the Texas compound, according to testimony from Nick Hanna, a Texas Ranger involved in the 2008 raid. Played in court, it was difficult to decipher, but Jeffs' and a female voice are heard. He says, "I perform this service in the name of Jesus Christ, Amen," then mentions the alleged victim by name. When she says something, he responds, "don't talk while praying." Several minutes of heavy breathing followed. The jury wore headphones to better hear the recording and also followed a transcript. One female juror covered her face with her hand as she listened. Jeffs represented himself after firing seven attorneys in the six months leading to the trial. He broke his courtroom silence with an objection marked by a nearly hourlong speech defending polygamy, and twice threatened the judge and the court with warnings of punishment from God. He refused to cross-examine the state's witnesses, and delayed giving an opening statement until he began presenting his own defense. In that statement, he evoked images of the civil rights movement and mentioned former Mormon leader Joseph Smith Jr. He also asked the jury to remember constitutional guarantees of religious freedom. The lone defense witness Jeffs called, church elder JD Roundy, spent about 10 minutes on the stand Thursday discussing FLDS history after 4{ hours of testimony Wednesday evening. Jeffs failed three times to remove state District Judge Barbara Walther from the case, the last rejection coming even without a hearing. He claimed Walther was biased because she issued the warrant for the original raid and was frequently updated as it progressed. Eleven other FLDS men were charged with crimes including sexual assault and bigamy. All seven of those who have been prosecuted were convicted, receiving prison sentences of between six and 75 years. |
| August -- month of mourning Posted: 04 Aug 2011 08:05 AM PDT 
 Awami Swechchhasebak League began its mourning day programme through a procession of light one minute past midnight at the first hour of 15 August from 32 No Road Dhanmondi to Bangabandhu Memorial Museum. Mourning processions would be brought in all district headquarters across the country on August 2 demanding the execution of the absconding killers of Bangabandhu by bringing them back home from abroad. Meanwhile, the government has chalked out various programmes to observe the 36th martyrdom anniversary of Father of the Nation Bangabandhu Sheikh Mujibur Rahman and National Mourning Day on August 15 in a befitting manner. As per the programmes, the national flag would be hoisted at half-mast as the sun rises on August 15 at government, semigovernment and autonomous organizations, educational institutions and private buildings. The national flag would also be hoisted at half-mast and discussion meetings held at Bangladesh Missions abroad. The President and the Prime Minister will place wreaths at the portrait of Bangabandhu at Dhanmondi Bangabandhu Memorial Museum at 6:30 am on the day. The armed forces will present a guard of honour, and a special 'munajat' will be offered. The Prime Minister will place wreaths at the graves of family members of the Father of the Nation and other martyrs at Banani Graveyard at 7:30 am. She will place wreaths at the grave of Father of the Nation at Tungipara at 10 am. The armed forces will present a guard of honour and a special munajat will be offered. Sheikh Hasina will address a discussion as the chief guest at Bangabandhu International Conference Centre at 3 pm on August 16. Bangladesh Awami League will arrange the discussion. Milad mahfils and munajats after Zohr prayers will be held at mosques, while prayers will be held at temples, churches and other places of worship on the day. Bangladesh Betar, Bangladesh Television and private TV channels and radio stations will air special programmes and newspapers will publish special supplements marking the day. Besides, posters will be distributed, and documentary on Bangabandhu will be screened in different areas. The cultural affairs ministry and other ministries, departments and agencies would observe their respective programmes. District and upazila administrations will observe the day through discussion meetings, milad mahfils and other programmes in conformity with the national programmes. Different educational institutions will hold discussion meetings, recitation programmes, painting and essay competitions and haamd, naat and milad mahfils. Awami League has also drawn up an elaborate programme on the occasion of the 21st August Grenade Attack Day. The programme includes placing of wreaths at the makeshift memorial in front of AL Central Office on Bangabandhu Avenue and a discussion at Bangabandhu International Conference Centre. Prime Minister Sheikh Hasina will address the discussion as the chief guest. The injured and family members of the victims, who were killed in the August 21 grenade attack, would meet the Prime Minister at Ganabhaban in the evening and take part in iftar. In a statement on Sunday, AL general secretary Syed Ashraful Islam urged all to observe National Mourning Day in a befitting manner. [ Back ] President's Corner Prime Minister Sheikh Hasina has been elected NAM vice-chairman Godfathers running in polls on BNP tickets : Sheikh Hasina Speech of the President Message of the President Article of the President Prime Minister Speech Click here Sheikh Hasina talks on caretaker govt. system at Awami League meeting. Click here to read the speech of Prime Minister Sheikh Hasina to the nation on 2nd year completion of her govt. Click here to read the speech of Prime Minister Sheikh Hasina to the nation on 1st year completion of her govt. Click here for the speech delivered by prime minister when first session of the ninth parliament was prorogued. Interview with David Frost To read the interview with Sheikh Hasina, please click here . Who's Online We have 1 guest online Party News Update Stronger EC needed |
| Hema donates KBC prize money Posted: 04 Aug 2011 07:59 AM PDT 
Hema Malini is known for her social work and recently she got an opportunity to give donation to a charitable organisation through a quiz show. The actress recently participated in Bhojpuri Kaun Baega Crorepati hosted by one of her best friends and ex colleague Shatrughan Sinha. The actress won big amount which she donated to a charitable organisation. It is believed that the actress enjoyed chatting with friend Shatrughan Sinha on the sets of KBC. The duo shared lot of sweet memories with their fans. "I enjoyed myself on the sets of KBC (Bhojpuri) with Shatrughan Sinha who is a dear friend. I am glad he asked me questions which I could answer. I'll be donating the prize money to a charitable organisation." She concluded |
| What is your luck today Posted: 04 Aug 2011 04:04 AM PDT |
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